tl;dr

U.S.-based crypto exchange Kraken has launched a new suite of crypto derivatives products for Australian wholesale clients, aligning with regulatory standards after a recent legal challenge. The licensed broker offering allows institutional clients to trade futures derivatives without holding the un...

Kraken, a U.S.-based crypto exchange, has introduced a new suite of crypto derivatives products for Australian wholesale clients to comply with regulatory standards after facing a recent legal challenge. This offering enables institutional clients to trade futures derivatives without holding the underlying assets, supporting over 200 tradable assets and providing a robust custodial solution. The move comes in response to the increasing demand for compliant, high-security trading options and aims to cater to institutional demand in the evolving Australian market.


The launch of these derivatives products follows a court case in which Kraken's domestic operator failed to meet regulatory standards, emphasizing the need for crypto products to meet stringent compliance measures to avoid potential consumer risks. This offering, available for over 200 tradable assets, includes multi-collateral support—fiat, stablecoins, and crypto—held within what Kraken describes as “one of the most robust custodial solutions.”


To qualify for this service, Australian wholesale clients must meet specific financial criteria, with net assets exceeding $2.5 million and a gross annual income exceeding $250,000 for the last two financial years. Kraken’s General Manager for Australia, Jonathon Miller, stated that the derivatives broker offering is a response to the increasing demand from institutional clients for compliant, high-security trading options.


Australian wholesale clients can explore this new offering via Kraken’s support page, and existing clients can confirm their eligibility through the Kraken Pro app. This launch aims to maintain Kraken’s presence in the Australian market, marking a strategic effort to cater to evolving regulatory landscapes and institutional demand, while distinguishing itself from rival exchanges offering similar products.

More about United States Steel Corporation

United States Steel Corporation produces and sells tubular and flat rolled steel products primarily in North America and Europe. The company is headquartered in Pittsburgh, Pennsylvania.

Industry: MANUFACTURING

Sector: STEEL WORKS, BLAST FURNACES & ROLLING MILLS (COKE OVENS)

Market Cap: 8,698,357,000

Current Price: $24.45

Change: $0.2

Change (%): 1.58%

52 Week Range: $17.48 - $29.67

Earnings per Share (EPS): $0.0241

Shares Outstanding: 162,750,000,000

Price to Earnings (P/E) Ratio: 41.59

Forward Price to Earnings (P/E) Ratio: -0.598

Dividend Yield: -0.13

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 22 Nov 24
 22 Nov 24
 22 Nov 24