Cboe plans December 10 launch of Bitcoin futures trading

05 December, 2017, 02:10 | Author: Valerie Burke
  • Cboe announces bitcoin futures to start trading Sunday

Bitcoin hit a record above US$11,400 last Wednesday, but then lost 20% of its value in the following 24 hours. The popular digital currency market cap rose to $189 billion.

CBOE Global Markets Inc. said Monday that it will launch trading of bitcoin futures on Sunday, Dec. 10.

CME on Friday announced the launch of its bitcoin futures contract on December 18, available for trading on the CME Globex electronic trading platform. XBTSM futures are cash-settled contracts based on Gemini's auction price for bitcoin.

Chicago-based CBOE said trading will start on its CBOE Futures Exchange at 5 p.m Central Time on Sunday, the beginning of global trading hours, with December 11 being the first full day. "Given the unprecedented interest in bitcoin, it's vital we provide clients the trading tools to help them express their views and hedge their exposure", said CBOE Chief Executive Ed Tilly.

Cboe announces bitcoin futures to start trading Sunday

The fact that this price was achieved much before the end of the year and that the prices overshot this region to move beyond the $11,000 region during the month was a sample of how strong this bull run has been during the month of November. CBOE has already expressed its desire to list these products, and - just this week - The Wall Street Journal reported Nasdaq Inc. hopes to list bitcoin futures on one of its USA exchanges during the first half of 2018.

According to the official release, CME Group has self-certified the initial listing of its Bitcoin futures contract, which will be listed on and subject to the rules of CME. It will also open up bitcoin trading to a larger group of investors and traders, who have been reluctant to purchase the virtual currency on the private exchanges.

The announcement from the Commodity Futures Trading Commission (CFTC) that it will allow the futures to be traded was seen as a watershed moment for the currency.

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