B2C2 Adds Crypto Options Trading
Posted by Colin Lambert. Last updated: October 4, 2021
B2C2 has rounded out its market making suite of products with the launch of crypto options. The firm will initially offer vanilla options with bespoke expiry dates and strikes to institutional counterparties in Bitcoin and Ethereum.
The firmn says the new product, which joins the firm’s integrated spot and Delta one derivatives offering, is designed to meet heightened demand for sophisticated alpha generation and hedging instruments. Rather than mirroring expiries on options exchanges, B2C2’s bespoke options contracts offer any strike and any expiry out to three months, enabling users to more precisely meet their hedging and investment needs, it adds.
The options trading business will be run by Brad Nagela, global head of options trading, who is based in Chicago and Johannes Woolard, head of options trading in Europe, who is based in London.
“This is an exciting time for us at B2C2,” says Nagela. “We believe that we’re uniquely positioned to provide counterparts with the products they need, backed by deep pools of liquidity. Product innovation, excellence in risk management and efficient trade execution and settlement are a winning combination for us and we look forward to building out a full suite of derivative products, much like those you’d find at an investment bank.”
The launch comes weeks after the firm unveiled a new pricing methodology allowing its to price larger block trades electronically.