Bitcoin Futures to Launch Dec. 18

02 December, 2017, 01:09 | Author: Gladys Mathis
  • Bitcoin Price Pushes Above $10500 on US Futures Listings

The announcement by the Commodity Futures Trading Commission (CFTC) paves the way for CME and CBOE to become the first traditional US regulated exchanges to launch trading in bitcoin-related financial contracts, a watershed moment for the cryptocurrency that could lead to greater regulatory scrutiny.

In addition, the Cantor Exchange has approved a new contract for binary options on bitcoin.

Bitcoin recovered back from its 20 percent plummet on Thursday back to $10,500, as it is now up 5.6 percent on Friday morning.

The unique products will start trading on Monday, December 18, 2017, and offer investors the chance to bet on the price direction of bitcoin without needing physical access to the cryptocurrency.

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Derivatives marketplace operator CME Group will launch a bitcoin futures product on December 18, ending speculation as to when the much-anticipated offering would be available on the USA markets. Market data from bitcoin exchanges Bitstamp, GDAX, itBit, and Kraken will be used to calculate CME's once-a-day Bitcoin Reference Rate (BBR). The impending launch date of Cboe bitcoin futures, which will trade on CFE under the ticker symbol 'XBT, ' will be announced shortly. CBOE has not yet set a launch date but has said it plans its listing by year-end.

Bitcoin futures are going to start trading later this month and InvestorPlace have a few things to know about the matter.

In order to regulate trading, all three exchanges and the Commission will be heavily regulating trading, as well providing the Commission with additional surveillance information regarding the futures.

Following the news of the bitcoin futures, the online currency is up in price. The activities will include monitoring and analyzing the size and development of the market, positions and change in positions over time, open interest, initial margin requirements, and variation margin payments.

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