Mercury Digital Assets Partners With Bit.com to Enable Bitcoin Options and Perpetual Swaps Trading

Partnership allows traders using Mercury’s BEACON platform and API to trade bitcoin options and perpetual swaps on Bit.com’s crypto derivatives exchange

Mercury Digital Assets (“Mercury”), a technology provider for digital asset markets, announced today its partnership with Bit.com, a secure, high-performance crypto derivatives exchange launched by Matrixport. This partnership enhances trading capabilities for both parties’ customers at a time of growing interest in crypto derivatives.

With the integration of the firms’ systems, Mercury customers can now trade directly in Bit.com’s order book using Mercury’s BEACON platform’s set of professional-grade trading tools or connect via Mercury’s set of robust APIs to automate workflows and interconnect systems.

“Cryptocurrencies are not a ‘niche’ asset anymore. We field inquiries from all types of traditional derivatives market participants who want exposure to cryptocurrencies and appreciate our track record of building state-of-the-art trading technology,” said Tony Saliba, Founder of Mercury. “We’ve watched Bit.com build substantial market share in a brief period of time and with our capital markets expertise, we know we can help grow Bit.com’s presence outside of Asia and continue its global expansion through Mercury’s offerings.”

“At Bit.com, we continue to focus intently on building out our derivatives product offering and liquidity. Professional players entering the crypto space demand high-performance institutional-grade trading experiences, greater market depth, and better capital efficiency,” said Daniel Yan, COO and Founding Partner at Matrixport and Bit.com. “With Mercury’s capabilities added to our platform, and vice versa, our clients can access vast pools of liquidity with an even more advanced toolkit in hand.”

As more participants from traditional markets direct their attention to digital assets, venues like Bit.com and technology providers like Mercury will continue to foster competition that fuels product innovation and outsized growth.

For more information, please contact Mercury here.

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Asana jumps 10% in trading debut after opening at $4.2 billion valuation

NYSE trader


  • Asana jumped as much as 10% in its first day of trading on Wednesday.
  • The stock opened at $27 per share, 29% above its reference price of $21. The ensuing climb marked a 10% increase from the opening price.
  • With 155 million shares outstanding, Asana sported a valuation of $4.6 billion at its peak after opening at $4.2 billion.
  • Visit Business Insider’s homepage for more stories.

Asana jumped as much as 10% in its first day of trading on Wednesday, hitting a high of $29.79.

Asana is a work management software company based out of San Francisco. The firm went public via a direct listing rather than the traditional IPO route.

With a reference price of $21 per share, Asana opened at $27 per share in the first minute of trade, giving it a valuation of $4.2 billion. At its peak on Wednesday, Asana sported a valuation of $4.6 billion, based on about 155 million shares outstanding.

Asana was founded in 2008 and markets a web and mobile application designed to help teams organize, track, and manage their work. The firm counts other software based companies like SmartSheet and Atlassian as its competitors. 

Read more: BANK OF AMERICA: Buy these 29 high-quality value stocks primed to cash in on the economic recovery

According to its S-1 filing, Asana  reported fiscal year 2020 revenue of $142.6 million, representing year-over-year growth of 86%. Net loss in fiscal year 2020 was $118.6 million, more than double from the prior year’s loss of $50.9 million. 

As of January 31, the company had over 1.2 million paid users.

A direct listing differs from a traditional IPO in that a direct listing does not raise any money for the company going public. Instead, a direct listing allows employees and shareholders to

Tokyo stock trading halted for day by computer glitch

Trading in Tokyo’s stock markets, which are among the world’s biggest, was halted for the whole day Thursday after the system was hit by one of its worst ever glitches.

A technical problem involving the delivery of market information was flagged to the operator of the Tokyo Stock Exchange operator and business was stopped less than half an hour before the opening bell.

The decision not to open for the rest of the day was taken around noon, with Japan Exchange Group giving no further details on the cause.

“TSE has decided to halt all listed stocks for all of today. When trade will resume has not yet been decided,” it said in a statement, which added that a decision on whether to resume Friday will be announced later.

The glitch hit the country’s top Nikkei 225 and Topix indexes as well as exchanges in Nagoya, Sapporo and Fukuoka that operate through Tokyo’s system. The Osaka exchange was functioning normally, though, the operator said.

The trading halt closed one of the few major markets that was due to be open in Asia on Thursday, with bourses in Hong Kong, Shanghai, South Korea and Taipei all closed for holidays.

It is the first significant glitch to hit Tokyo since 2018, when a trading system problem left some securities firms unable to execute orders but that only had what was described as a limited effect on overall market activity for the day.

The last time all stock trading was suspended because of a system glitch was on November 1, 2005, when the entire morning session was suspended.

The news raised concerns of a possible cyber attack after the New Zealand Exchange was hit in August, forcing trading halts over several days, though officials said there was no indication so far of foul

Palantir insiders locked out of trading due to software glitch

  • Palantir insiders were temporarily unable to sell shares Wednesday due to an issue with Morgan Stanley’s trading software, CNBC first reported and Morgan Stanley confirmed to Business Insider.
  • The data-mining company went public Wednesday morning via a direct listing at $10 per share, but took a page from the traditional IPO process by having a “lock-up” period for existing investors.
  • Palantir still allowed those investors to sell up to 20% of their shares during the lock-up, but according to CNBC, some initially couldn’t take advantage of it because of a software glitch.
  • A Morgan Stanley spokesperson told Business Insider the company “experienced slowness that may have resulted in delayed logins into our system” but that its call centers were able to execute trades “at all times.”
  • Palantir’s stock jumped as much as 14% per share in early hours, but dropped again later in the day.
  • Visit Business Insider’s homepage for more stories.

Palantir went public on Wednesday, giving existing investors a chance to offload some of their shares. But some were temporarily unable to do via Morgan Stanley’s trading platform because of a software glitch, CNBC first reported and Morgan Stanley confirmed to Business Insider.

While Palantir used a direct listing process (DLP) instead of a traditional initial public offering (IPO), it took a page from the IPO process by setting a “lock-up” period for existing investors such as employees, founders, and venture capitalists to limit some volatility.

Still, it allowed those insiders to sell up to 20% of their shares immediately upon the stock’s debut Wednesday morning.

But according to CNBC, some current and former employees couldn’t get in on the initial action because Morgan Stanley’s Shareworks trading platform, through which they were supposed to be able to sell shares, wasn’t functioning properly.

“We experienced slowness that may have

Palantir officially begins trading through a direct listing

  • Shares of the big data company Palantir began trading on Wednesday via a direct listing.
  • The New York Stock Exchange established a reference price of $7.25 per share, valuing the company at about $16 billion ahead of its official debut.
  • Palantir has yet to become profitable, raising questions from investors.
  • Palantir also has faced criticism from activists for its work with Immigration and Customs Enforcement, which the company has acknowledged poses a risk to its business — partially because yielding to the criticism might endanger its business with government clients.
  • Visit Business Insider’s homepage for more stories.

Palantir, the secretive and often-controversial big data company founded by Peter Thiel, made its public markets debut on Wednesday with a splash, as investors bid up shares and gave the company a roughly $19 billion market capitalization.

Shares of Palantir began trading on the New York Stock Exchange on Wednesday through a direct listing. The stock opened at $10 per share, 38% above the hypothetical “reference price” set by the company. Palantir shares rose 14% to $11.40 within the first hour of trading, but then lost momentum and dipped to as low as $9.77.

The reception on Wall Street is a vote of confidence in a company that has never turned a profit in its 17 years of existence, and whose business model has been viewed with skepticism by some observers. In its S-1, Palantir revealed nearly $580 million in losses in 2019, and it warned that it may never become profitable. 

The company is known for its work with government agencies and law enforcement around the world, using its data analysis tools to track and prevent terrorism and other forms of crime.

Palantir acknowledged in its S-1 filing that criticism from “political and social activists” and “unfavorable coverage in the media” could