Cryptocurrency exchange Kraken has expanded its traditional Derivative portfolio from CME – including Futures Contract on stock indices, energy, metals and foreign exchange.
US users can trade these products directly through Kraken Derivatives US – Kraken’s regulated brokerage arm. CME is the world’s largest Derivative exchange.
The move puts Kraken in competition with platforms like Robinhood, which has been expanding into traditional assets like gold and oil, and both are also racing to expand into crypto stocks outside the U.S.
Kraken is reportedly preparing for an IPO with a valuation of around $20 billion. It previously acquired retail Derivative platform NinjaTrader for $1.5 billion – the largest combination of crypto and traditional finance to date.
Kraken listed BTC and ETH Futures Contract on CME over the summer. Now, the exchange continues to expand into other contract types such as commodities, forex, fixed income, and indices.
Users can trade Futures Contract such as S&P 500, NASDAQ, Dow Jones; gold, oil, silver, agricultural products; and major currency pairs such as EUR, JPY, GBP, AUD… in just one platform. Kraken also supports CME sub-exchanges such as CBOT, NYMEX, COMEX.
These products are aimed at professional investors, with very competitive trading fees – just 0.005%. Kraken also offers market data to both retail and institutional investors.
It is unclear whether Kraken will follow traditional trading hours (May 24) or be open all week (24/7). Last week, CME CEO said they would launch 24/7 crypto trading – XEM as a stepping stone to non-stop trading across the financial markets.
In the third quarter, CME crypto Derivative volume Medium 340,000 contracts per day, equivalent to $14.1 billion in notional value. CME plans to launch options contracts for Solana and XRP on October 16.
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