The Winklevoss twins put an official start to their crypto exchange – Gemini. Speaking of, this exchange adopts a different model and names itself “The Next Generation Digital Asset Exchange” for businesses and investors. The platform allows buying, selling and storing Bitcoin and Ether with superior trading features, security as well as regulatory oversight.
Starting April 12th, Gemini will offer cryptocurrency block trading outside of its regular order books – according to the press release written on the exchange’s blog.
Investors interested in trading on the Gemini Block Trading marketplace will be able to buy and sell large amounts of cryptocurrencies. The minimum trade will be 10 Bitcoin (BTC) and 100 Ethereum (ETH) and the trade information will be published 10 minutes after the trade’s execution. This is all in order to prevent affecting price and market volatility.
In the press release, the Winklevoss twins also explain how a customer will place a block order. There will be four main variations here:
- buy/sell
- quantity
- minimum required fill quantity
- price limit (an indication of interest)
However, the market makers will be mostly focused on the “quantity, minimum quantity and collar price.”
Therefore, once a market maker decides to “make a market” fitting within the indication of interest – the block order will be executed.
Aside from the crypto exchange novelties, Gemini has also been involved in bringing the traditional market systems into the crypto sphere. In December 2017, the Chicago Board Options Exchange (CBOE) partnered with them to launch their Bitcoin futures.
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