– First OTF licence granted by Dutch regulators bringing crypto futures trading onshore in the EU
– First MiFID II trading venue for perpetual futures in EU
– First to offer product creation, trading, custody, and real-time settlement for crypto derivatives in one regulated venue without the need for external clearing
– First regulated derivatives exchange in Europe accessible to retail clients
One Trading, a leading European crypto-asset exchange, has been granted an Organised Trading Facility (OTF) License by the Dutch financial market regulator. This license establishes One Trading as a MiFID II trading venue and marks a significant milestone in the company’s multi-year journey with the Dutch Financial Markets Authority (AFM) and the Dutch Central Bank (DNB) to revolutionize the trading of derivatives and bring crypto futures onshore in the EU.
Transforming Derivatives Trading in Europe
With the new license, One Trading becomes the only perpetual futures trading venue in the EU and the first cash-settled perpetuals platform in Europe, including the UK. This approval establishes One Trading as the first regulated derivatives exchange in Europe accessible to retail clients.
In addition, One Trading is onshoring crypto derivatives as “traded on a trading venue” instruments, further enhancing the regulatory framework and security for European customers. The products that One Trading is rolling out are the modern alternative to products provided by traditional futures venues such as the CME or Eurex, but are simpler, more precise, and far more capital efficient than traditionally cleared derivatives such as dated futures.
Innovative and Proprietary Technology
One Trading’s technical implementation of perpetual futures sets it apart as the first trading venue in the world to offer real-time (<1-minute tick level) settlement of all derivatives positions, 24/7 on all markets. This groundbreaking capability complements the proprietary technology already developed to provide the fastest and most scalable spot trading venue globally. One Trading’s technology seamlessly integrates custody and settlement on DLT, making it the first EU venue to allow the use of crypto-assets as collateral for trading regulated financial instruments.
Comprehensive and Integrated Clearing and Settlement
As the only regulated exchange that integrates derivatives product creation and trading without the need for external clearing, One Trading offers an unmatched suite of services which are all directly available to professional and retail clients. With DLT infrastructure mobilising collateral t+0 and 24/7, One Trading challenges existing financial market infrastructure as the first to eliminate costly post-trade processes in favour of a clear, safe, and robust structure focused on helping all clients get the exposures they want – and nothing more. This integrated approach is brought to life in a highly regulated environment by use of leading technology, making it a unique and hard-to-replicate model within MiFID II.
Joshua Barraclough, Founder and CEO of One Trading commented, “We are thrilled to have achieved this milestone, which represents the culmination of years of hard work and innovation. The long-term vision of the company is to enable all customer types to go long or short on any asset, use any asset as collateral, settle everything instantly, and perpetually roll contracts. Our team has been dedicated to developing a platform that not only meets but exceeds the highest regulatory standards. With this licence, we are well positioned to introduce new regulated products and offer institutional-grade solutions to all customer types starting with BTC and ETH products where no onshore EU regulated venue currently exists. This is just the beginning of our journey to redefine the landscape of digital asset and traditional security trading.”
A Significant Achievement in Regulatory Approvals
Receiving the first new Organised Trading Facility license granted in the EU in the past three years underscores the rigorous standards One Trading achieved. This reflects the company’s innovative approach and trusted leadership, as well as its dedication to reshaping how regulated financial instruments are traded in the digital age.
General Counsel Mario Hoessl-Neumann added: “It has been a great experience working very closely with the Dutch regulators throughout much of this process, and we appreciate their vision and foresight to bring a new market structure for regulated derivatives trading to the EU. By launching a novel form of financial instruments with purpose-built tech and the seamless integration of DLT-based assets on the One Trading platform, we are not just providing European clients with the first onshore alternative to unregulated exchanges. More fundamentally, we are complementing – and in some important ways replacing – traditional structures for how regulated derivatives such as futures are traded. It has always been a core value to us to maintain equal capabilities for professional and retail clients, and it is great to see that we are now first in Europe to bring to life a trading venue that truly works for all.”
One Trading has been advised on its license application by A&O Shearman (Alexander Behrens) and Freshfields Bruckhaus Deringer (Daphne van der Houwen and Stephan Pachinger).
About One Trading
One Trading is a European digital asset exchange headquartered in the Netherlands. The company is committed to providing a secure, fast, and scalable platform for trading crypto-assets and derivatives. With a focus on innovation and regulatory compliance, One Trading aims to set new standards in the industry and offer unparalleled services to its customers. For more information, please visit our website.
