Middle East Trading Firm adds Bitcoin Cash, Ripple, Litecoin

According to the latest news from ADS Securities, OREX users can trade Ripple, Litecoin and Bitcoin Cash in addition to Bitcoin and Ethereum
05 April 2018   394

Abu Dhabi-based ADS Securities is the largest brokerage by volume in the Middle East and one of the fastest growing forex and investment companies globally. It provides sophisticated forex, bullion and commodities trading solutions to institutional and private investors. 

ADS Securities is a leading multi-market institutional FX brokerage, and currently it offers four trading solutions for institutional clients:

  • OREX Optim: new generation platform for FX and derivatives trading
  • OREX Pro: specialist institutional platform for FX trading
  • OREX Direct: FIX solutions across all platforms
  • OREX Match: liquidity matching solution

ADS Securities has been expressing interest in cryptocurrency market and trading, and previously it allowed Bitcoin and Ethereum currencies on the platform. According to the latest news from the firm, OREX users can now also trade Ripple, Litecoin and Bitcoin Cash.

Cryptocurrencies have been making waves for some time, however now that understanding of the market is growing, we believe it is the right time to introduce more coins on to our OREX Platform.
 

Jason Hughes

Head of Retail Sales, ADS Securities

TheHead of Retail Sales at ADS Securities stated that flexibility of CFDs allow users to take long or short positions, helping their management of exposures and positioning during the current volatility in these markets. Traders do not have to setup crypto wallets or deal with exchanges which makes their lives a bit easier.

SEC to Need More Info on BTC ETF

SEC is gathering more input from the public – to date, according to the agency, more than 1,400 comments have been submitted
21 September 2018   134

The US Securities and Exchange Commission (SEC) announced the beginning of a formal process for considering the application for the creation of bitcoin-ETF from the New York companies VanEck and SolidX. Nevertheless, the agency appealed to the community for more information. This is stated in the document published on the SEC website.

Institution of such proceedings is appropriate at this time in view of the legal and policy issues raised by the proposed rule change. Institution of proceedings does not indicate that the Commission has reached any conclusions with respect to any of the issues involved. Rather, as described below, the Commission seeks and encourages interested persons to provide comments on the proposed rule change.
 

The US Securities and Exchange Commission

At the moment, the SEC received about 1,400 comments.

According to the document, the Chicago Board Options Exchange (CBOE) has signed an agreement on the exchange of data on bitcoin transactions, trading and the state of the market with the cryptocurrency trading platform with Gemini.

The agency asked commentators to clarify the position of Gemini in the digital currency market and assess the likelihood of increased volatility at this site in connection with possible trades of bitcoin-ETF.

So, before September 30, the department had to decide on whether to approve, deny or initiate the proceedings. The SEC chose the latter, which is likely to delay the process until the next year.