Gate Launches US Stock Options Trading for Nine Names Including Tesla, Nvidia
Summary
- Global cryptocurrency exchange Gate said it has launched a US stock options trading service.
- The exchange said the options products will settle transaction amounts and profit and loss in Tether (USDT), with no physical delivery of the underlying shares.
- It said it will not charge platform fees or options brokerage commissions at the initial stage of the service, though third-party charges imposed by the SEC and FINRA will still apply.
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Global cryptocurrency exchange Gate has launched a US stock options trading service.
Gate began offering trading in US stock options on September 2, according to Odaily and other outlets. The initial lineup covers nine stocks: Nvidia, Tesla, Apple, Meta, AMD, Micron, Amazon, Alphabet Class A and Broadcom.
The products are settled in Tether's USDT rather than through delivery of the underlying US shares. Even when an option is exercised, the stock is not physically delivered.
During the initial rollout, Gate does not plan to charge separate fees such as platform fees or options brokerage commissions. Third-party charges imposed by regulators and clearing organizations, including the US Securities and Exchange Commission and the Financial Industry Regulatory Authority, will still apply.
At launch, trading will be available only during regular US market hours. Users also will not need to open a separate brokerage or margin account.
