The investment instruments based on the Bitcoin Index already operated on the Matba Rofex futures market but, as of April 22, it will be extended to investors in general.
Bitcoin: futures contracts in Argentina can now be operated by any investor
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Starting April 22, Any investor will be able to buy and sell Bitcoin future contracts through an ALyC. This was confirmed this afternoon from Matba-Rofex based on the completion of the initial stage that was ordered by the National Securities Commission (CNV). Until now only qualified investors could participate.
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Each BTC future contract represents 0.01 Bitcoin. In other words, if 1 Bitcoin is quoted in pesos at $72,000,000. By purchasing a contract, you participate in the profit or loss on 0.01 Bitcoin, which represents a value of $720,000.
Bitcoin futures: this is how they work
Future contracts take the underlying as a reference, which is the index that Matba Rofex built based on the Bitcoin quotes in pesos contributed by 11 taxpayers, who are the main local exchanges (selected according to the eligibility conditions established in the Index Methodology).
In this way, as the underlying is the index, there is never delivery or receipt of Bitcoin. And, on the other hand, these contracts have a limit on the open position like the rest of the futures contracts that have a maximum per client, a margin of approximately 40% of the value of the Bitcoin.
This is data determined by the central counterparty chamber of the futures market, which is called Cirsa, and adjusts it based on the volatility of the product. Likewise, it is important to clarify that this index It is calculated every minute, seven days a week. and, to this end, the data is captured automatically through queries to the API-Rest of each Price Provider.
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Source: Ambito
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