$BRL / $BRZ futures are live on FTX, as well as BRL bank deposits and withdrawals!
ftx.com/trade/BRZ-PERP
Conversation
Replying to
Yeah, FWIW we have the inverted prices in brackets next to the other ones.
(Didn't want to have BRL settled futures :P )
1
3
but why not invert it so that the quantities would just be USD terms and price still USDBRL ? ppl dont find it that counterintuitive in bitcoin terms where their long profit is less than short profit in btc terms, would be same for USD used in USDBRL market (i think?)
1
Replying to
I definitely find it counterintuitive :P
More I just think it'd be confusing given that everything else on FTX is non-inverted.
1
i suppose either choice has a form of inconsistence: yes, in context of the existing linear /USD products it's more consistent. but just inconsistent with what entire market trades BRL as :)
2
1
this is how CME futures trade, right?
1
2
i stand corrected!
i trade fx forwards otc and its always like USDBRL and USDTRY for those EM pairs
1
1
threw me off at first as well! outside of futures, i've definitely seen it USD/BRL 99% of the time in both the US and Brazil
1
2
Yeah US exchanges show BRL/USD, Brazilian ones show USD/BRL, others are a mix. But most people interested in BRL use USD/BRL.
Fun fact: the international standards were set based on which fiat currencies were worth > $1 USD at a particular point in time.
1
2
Thus EUR, GBP, CAD, etc. are quoted over, whereas most other currencies are quoted under.