Sunday, 17 December, 2017

Cboe to Launch Bitcoin Futures Trading on Sunday

Cboe announces bitcoin futures to start trading Sunday CBOE to Begin Bitcoin Futures Trading on December 10
Jo Caldwell | 05 December, 2017, 02:11

The futures will be launched under Cboe Futures Exchange (CFE) under the ticker "XBT".

The CME Group, which owns the Chicago Mercantile Exchange, will start trading bitcoin futures December 18, the company said.

Cboe Global Markets has announced that Cboe Futures Exchange plans to offer trading in bitcoin futures beginning at 5:00 p.m. CT on Sunday, December 10, 2017, at the start of Global Trading Hours. While CME's announcement sent bitcoin's price hurtling past the $11,000 mark for the second time last week, CBOE's release hasn't had the same effect. One bitcoin was worth just a fraction of a penny when it started trading in 2010, and by the start of this year was worth $1,000.

Cboe announces bitcoin futures to start trading Sunday

Naeem Aslam, Think Markets analyst, said that the reports Britain wants to hike regulation of bitcoin and other digital currencies.

Ed Tilly, Chairman and Chief Executive Officer of Cboe Global Markets, said: "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". Due to its volatility, bitcoin futures will be subject higher margin levels and intraday price limits, the CME said. Consequently, Cboe will become the first USA exchange to support trading for a cryptocurrency-derived futures product. The futures will be cash-settled contracts based on Gemini's auction price for bitcoin, denominated in US dollars. Market data from bitcoin exchanges Bitstamp, GDAX, itBit, and Kraken will be used to calculate CME's once-a-day Bitcoin Reference Rate (BBR). 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.

Bitcoin has been a hot commodity for investors.

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