As Germany’s first regulated trading venue for digital assets, Boerse Stuttgart Digital Exchange (BSDEX) allows to trade the Bitcoin-Euro pair, offering a transparent and reliable environment for experienced investors, the exchange announced today.
BDSEX explains that in addition to market and limit orders, investors can now also use stop orders. If the Bitcoin price reaches the defined stop mark, an order is placed in the BSDEX order book, either with or without a limit. Orders are executed directly against each other.
Additional tradable cryptocurrencies are planned to be the next new feature, according to BSDEX.
To connect directly to BSDEX, users must hold a German bank account, be at least 18 years old, resident in Germany and a national of a country in the European Economic Area (EEA).
BSDEX meets the regulatory requirements in accordance with section 2, paragraph 12 of the German Banking Act (Kreditwesengesetz) and is operated as a multilateral trading facility by Baden-Wuerttembergische Wertpapierboerse GmbH, which also is the operating company for the public stock exchange in Stuttgart.
The technical operator of BSDEX is Boerse Stuttgart Digital Exchange GmbH, a joint venture of Boerse Stuttgart GmbH, Axel Springer and finanzen.net.
“Stop orders are particularly important in the current volatile market phase. They enable investors to react automatically to price volatility and to pursue a momentum strategy. The introduction of this order type is therefore a logical step in the continuous development of BSDEX,” says Dr. Dirk Sturz, CEO of Boerse Stuttgart Digital Exchange GmbH.
Trading at BSDEX
Trading at BSDEX is almost 24 hours on days where the markets are open. Open order books provide information about existing orders and the current market situation.
In addition, financial services provider EUWAX AG, a subsidiary of Boerse Stuttgart GmbH, increases liquidity by providing buying and selling prices. At BSDEX, there are transaction fees based on the type of order, according to the exchange.
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