Connamara Systems, LLC (Connamara) today announced BCause LLC, (BCause), a privately held exchange operator that will create a market for trading futures and options on crypto-currencies, has selected Connamara as the technology platform provider for a new exchange based and regulated in the US.
Currently pending approval from the Commodity Futures Trading Commission (CFTC) as a fully regulated Designated Contract Market (DCM), BCause plans to be the first exchange to legally offer a variety of derivatives in the US for retail customers based on Bitcoin and other crypto-currencies.
Michael Adolphi, CEO at BCause, said "The crypto-currency eco-system desperately needs financial products that allow the investor to hedge risk. Our products combined with Connamara's extensive experience and success in providing technology in the regulated exchange space really differentiated them from the competition and made our decision easy. We particularly appreciate their flexibility in meeting our unique requirements and aggressive timelines,"
Jim Downs, CEO of Connamara, said, "We're delighted to be working with BCause on this exciting new venture. We look forward to a long and mutually beneficial relationship.”
Connamara will be working closely with BCause’s staff on design, testing, and implementation with a targeted production launch coinciding with CFTC approval expected later this year.