One Trading, formerly known as Bitpanda Pro, announced that it has obtained an organized trading facility (OTF) license from the Dutch Financial Markets Authority (AFM).
The license establishes One Trading as a trading platform under the Markets in Financial Instruments Directive II (MiFID II), allowing the company to trade digital assets and derivatives.
First cash-settled futures platform in Europe
The OTF license provides One Trading with several key capabilities. It also allows the company to operate as a futures trading platform in the EU. The company claims to be the first cash-settled futures platform in Europe, including the UK.
With this approval, One Trading is the first regulated derivatives exchange in Europe to be available to retail customers. This approval represents a significant change in the landscape of cryptocurrency and derivatives trading in Europe.
With this new license, One Trading has stated that it intends to revolutionize derivatives trading by bringing cryptocurrency futures to the EU market.
The company’s approach includes onshoring cryptocurrency derivatives as instruments “traded on a trading platform,” which promises greater regulatory oversight and customer protection.
One Trading said its products are positioned as a “modern alternative” to traditional futures products offered by platforms such as CME and Eurex. These new products will be simpler and more capital efficient than traditionally cleared derivatives such as dated futures, the exchange said.
“The company’s long-term vision is to allow all types of customers to take long or short positions on any asset, use any asset as collateral, settle everything instantly and roll contracts continuously,” – Joshua Barraclough, founder and CEO of One Trading, said.
Barraclough, a former JPMorgan director, said that with this license, One Trading is well positioned to introduce new regulated products and offer institutional-grade solutions to all types of clients, starting with BTC and ETH products.
