Deribit, a new bitcoin options and futures exchange, has opened for trading last week. At this moment it is the only platform in the world where it is possible to trade both plain vanilla options on bitcoin as well as futures with margin.
Some key features of Deribit trading platform:
Trade plain vanilla European style cash settled options on the Deribit BTC index, with margin.
Trade BTC futures that settle on the Deribit BTC index, with up to 20x leverage.
The platform can handle hundreds of trades per second from each account, which makes it possible for market makers to quote on all options available on the platform.
All data on the platform is streamed in real time, through websockets, to client browsers.
The platform is built on the ERLANG/OTP stack. (same technology has been used for Whatsapp). Prepared for a huge amount of concurrent users, ultra low latency and updates without downtime.
The platform allows placing volatility orders, where the Deribit price engine continuously updates the price of the order as to keep the implied volatility of the order fixed. With this feature basic market making is already possible for any trader that opens an account.
Lowest trading fees in the industry: 0.01% fees for orders that take liquidity, and 0% fees for orders that add liquidity.
Real-time risk management with incremental auto-liquidation: If an account has a maintenance margin higher than its equity, the Deribit risk engine will liquidate its position in small steps,
providing maximal protection for all parties involved. Liquidations are small and instantaneous, again ensuring fairness for everyone.
Starting with a 100BTC insurance fund to cover bankruptcies. Any bankruptcies are published in real time on the platform. Deribit aims to never have socialized losses. Our risk management system is built such way that its extremely difficult to go bankrupt even if one would try to do so.
Trade via REST, Websockets API or FIX bridge. High performance API that can handle even hundreds of requests per second from a single account.
