Bayse Launches Perpetual Futures, Bringing Stock Derivatives to Nigeria
A licensed prediction market, Bayse, has introduced a product called Perpetual Futures, giving traders a single venue for derivatives on stocks, major indices, commodities, cryptocurrencies and foreign exchange.
With the rollout, the company moves past outcome-based prediction markets into derivatives and futures trading. It also becomes the first platform to offer perpetual futures on stocks in Nigeria.
The company linked the launch to its ongoing bid to secure a licence from FSGRN, describing the step as part of its plan to be fully regulated in both prediction markets and derivatives trading.
Through the Bayse app, Nigerian users can open leveraged, continuous positions on global companies including Apple, Amazon, Google and Tesla. They can also trade indices such as the S&P 500 and Nasdaq 100.
Each position may be opened in either direction, so it can appreciate whether the underlying price goes up or down. There is no fixed expiry date, which means a trader can keep a view open for as long as needed instead of closing or rolling it over on a set timetable.
Bayse said crypto and finance-focused traders already account for most of its trading activity. This group has contributed a significant portion of platform volume since the company's early days, and Perpetuals was created with them in mind, giving them a direct route to apply the same approach they use in prediction markets to a broader range of assets.
Bayse describes itself as Africa's largest prediction market, offering Nigerians a regulated venue to trade on the outcome of future events, and now Perpetuals futures contracts.
Stock derivatives can be traded from today on Bayse.market, and the Bayse app is available for download.
to like, bookmark, and comment.
Comments
Join the conversation:
No comments yet. Be the first to share your thoughts.