Gemini joins the team of the former chief of information of the New York Stock Exchange – DiarioBitcoin

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The former official will take over the leadership of the technology department of the exchange platform, so he will bring all his experience to improve the operation and experience of the users in the & 9 [[[[[[[[[[[[[[[[[useoftheservice

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The exchange platform led by investors brothers Cameron and Tyler Winklevoss, Gemini, yesterday announced the incorporation of the old chief of the information area of ​​the New York Stock Exchange (NYSE) Robert Cornish.

According to a statement issued by the company, Cornish would occupy the post of director of technology at Gemini, so that he is in charge of developing solutions, operational support and strategic planning for the platform of exchange.

Among the duties of Cornish will also badume the direction of service SMARTS Market Surveillance of [194590] 13] Nasdaq, which is a solution designed to track markets in real time. This project will allow Gemini to closely monitor all of its order and auction portfolios, a set of data serving as a benchmark for establishing the settlement price of contracts <a href = "https: // www.diariobitcoin.com/index.php/glossary/futuros/" data-cmtooltip = "

Certain future contracts may require that the product mentioned in the contract be delivered, other contracts simply ask for the equivalent amount to be paid in cash Example
Imagine an oil producing country that plans to produce 1 million barrels a day to be delivered in exactly 365 days Assuming the current price of a barrel is 50 USD, the producer could bet, produce oil, and sell it at market price one year from today. Given the volatility of oil prices, the market price could be at any level. Instead of taking risks, the producer could obtain a sale price by entering into a futures contract.
Mathematical models are used to badign prices to futures contracts, the current price is taken into account, risk-free rate of return, time to mature the contract (in this case 365 days), storage costs , the dividends.
Assuming that the producer decides that his contracts will be $ 53 per barrel, the producer is obliged to deliver 1 million barrels of oil and you are badured of receiving $ 53,000,000.00 USD, regardless of the price of oil on the market the day the deliveries are made.

Speculation and Coverage

Future contracts are used by two categories of participants in the market. Speculators and Covers
Producers or purchasers of a product hedge or guarantee the price at which the product is sold or purchased, while portfolio or broker managers may wager or speculate on price movements by means of futures contracts. 19659008] Futures Speculators
Futures contracts are used to manage potential movements in the prices of traded commodities. If market participants anticipate an increase in the price of the product in the future, they may realize potential profits by buying the product with a future market and selling it later on the market at a higher price or by obtaining market-friendly price differentials.
However, they may lose if the price of the product is ultimately lower than the purchase price specified in the future contract.
Conversely, if the price of the product should be autumn, they can sell the product on a futures market and then buy it at a lower price in the market.

Futures Covers

The purpose of the cover is not to enjoy favorable movements, the idea is to avoid losses due to adverse price changes, and maintain a predetermined financial result based on current market conditions.

To make a hedge, unlike speculators, there must be entities whose business is to use the product negotiated in the contract. When there is a gain in a futures contract, there is always a loss in the market price, or vice versa.

"clbad =" glossaryLink "> future Bitcoin marketed in CBOE Future Exchange, LLC .

In the press release, the CEO of Gemini ]] Tyler Winklevoss, explained:

Robert Cornish is a great addition to our team, his efforts will ensure that Gemini continues to provide the best possible experience for our users in platform management, setting the standards for # 39; excellence serve as a reference for participants in the cryptocurrency industry. "

This news follows the announcement made by the managers of the platform, in which they reported that 39 they received the corresponding regulatory approval of the city of New York to incorporate ZCash in its list of digital currencies activated for commercial activities

It is important to note that Gemini is a trading company of one of the most reputable trading platforms in the United States, which operates under the banking statutes managed by the State of New York and in accordance with the principles established by BitLicense. [19659004] Source: CoinDesk

Version By Angel Di Matteo / DiarioBitcoin

Image from Pixabay

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