Perps extend the menu to tempt TradFi diners
Expiry-less futures are spreading from bitcoin into gold, equities and FX. Institutions are watching, not buying
A bank is said to have run the numbers on a gold spot versus futures basis trade. Not on a dated future, but on a perpetual future – the expiry-less contract that crypto venues have traded offshore for years and that US regulators only blessed this summer.
It weighed initial margin and carry, clearing broker fees, exchange and clearing house fees and the bid/offer crossed on every roll against the
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