One Trading, formerly known as Bitpanda Pro, announced it has secured an organized trading facility (OTF) license from the Dutch Authority for the Financial Markets (AFM).
The license establishes One Trading as a Markets in Financial Instruments Directive II (MiFID II) trading venue, allowing the firm to trade digital assets and derivatives.
First Cash-Settled Perpetuals Platform in Europe
The OTF license gives One Trading several critical capabilities. It also allows the firm to operate as a perpetual futures trading venue in the EU. The firm claims it is the first cash-settled perpetuals platform in Europe, including the UK.
This approval makes One Trading the first regulated derivatives exchange in Europe that is accessible to retail clients. The approval is a significant shift in the landscape of crypto and derivatives trading within Europe.
With this new license, One Trading said it aims to revolutionize the trading of derivatives by bringing crypto futures onshore in the EU.
The firm’s approach includes onshoring crypto derivatives as “traded on a trading venue” instruments promising greater regulatory oversight and customer protection.
One Trading said its products are positioned as a “modern alternative” to traditional futures products provided by venues such as the CME or Eurex.
These new products will be simpler and more capital-efficient than traditionally cleared derivatives like dated futures, said the exchange.
“The long-term vision of the company is to enable all customer types to go long or short on any asset, use any asset as collateral, settle everything instantly, and perpetually roll contracts,” said Joshua Barraclough, founder and CEO of One Trading.
One Trading to Launch New ‘Regulated’ Products
Barraclough, a former JPMorgan executive, said with this license, One Trading is well-positioned to launch new regulated products and offer institutional-grade solutions to all customer types, starting with BTC and ETH products.
