Canadian stock exchange operator TMX plans to launch first cryptocurrency futures product

Canada's largest stock exchange operator TMX Group said on Tuesday it plans to launch its first cryptocurrency futures product to meet institutional investors' desire to offset the risks of trading in the relatively new asset class.

TMX, operator of the Toronto Stock Exchange and Montreal Derivatives Exchange, launched the world's first bitcoin ETF nearly a year ago.

At the end of last year, the group had 17 cryptocurrency ETFs listed on the Toronto Stock Exchange. The company’s CEO, John McKinsey, said it plans to launch its first cryptocurrency futures product on the Montreal exchange this year.