“The first financial instrument tied to bitcoin has launched following approval from the US government. TeraExchange, a swap execution facility based in Summit, New Jersey, is marketing the bitcoin derivative to large institutions looking for a way to reduce the volatility and risk associated with traditional types of bitcoin exposure. TeraExchange began working on the product earlier this year, and only just received approval from the US Commodities Futures Trading Commission (CFTC), the government agency that regulates futures and options markets. The bitcoin swap enables parties to hedge against fluctuations in the digital currency’s value.”
http://www.coindesk.com/teraexchange-bitcoin-derivative-cftc/
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