Exchanges Set To Launch Bitcoin Futures Trading

05 December, 2017, 01:48 | Author: Darnell Patrick
  • Exchanges Set To Launch Bitcoin Futures Trading

CME's bitcoin futures will be based on a "Bitcoin Reference Rate", which will be a "a once-a-day reference rate" based on the US-dollar price of the coins.

Bitcoin's rapid rise from less than US$800 in December previous year to more than US$11,000 this week on Coindesk has stoked fears that it is a pricing bubble that could leave recent investors worse-off.

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

CME is not the only USA exchange that is going to add bitcoin futures to their product offerings.

Official trading and full day trading of the futures will begin on December 11, and trading will be free through December.


The bitcoin mania doesn't seem to be losing steam, despite repeated regulatory blows - especially in China - and growing more than tenfold in value from the beginning of this year. At 19:54 UTC on Monday, bitcoin was trading at $11,237.19, unchanged in the last 24 hours.

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.

"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". Bitcoin itself is now bought and sold on platforms that are virtually unregulated, which has made some money managers uncomfortable with the market even as prices soar.

Bitcoin has been a hot commodity for investors.

This also led to the migration of a few miners and investors to other markets like bitcoin cash and ethereum and once again, it looked as though the bitcoin prices would crash a lot more. 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 US exchanges during the first half of 2018.

Recommended:



Popular

Jak II, Jak 3, Jak X: Combat Racing hit PS4 Next Week
However, the online multiplayer that was originally present in Jak X: Combat Racing won't be operational on the PS4. Together, the entirety of Naughty Dog's Jak and Daxter installments will be playable on the current Sony platform.

Senate Passes Historic Republican Tax Overhaul Bill
Trump administration officials and many Republicans have insisted the bill would pay for itself by stimulating the economy. The tax cuts for individuals would expire in 2026 while the corporate tax cuts would be permanent.

Missing teen out of Columbia County located safe in NY
Police were investigating the "blossoming of a potential relationship" between Frisina and Rodriguez. Columbia County deputies say Rodriquez is now charged with interference in child custody.

Actor James Woods witnessed poker cage robbery in Vegas
Metro Captian John Pelletier said that they are "comfortable and confident" that they have enough to apprehend the man. Las Vegas police are investigating a robbery that occurred at the Bellagio hotel-casino around 3:37 p.m.

San Francisco 49ers name Jimmy Garoppolo starting QB
Beathard threw three touchdown passes compared to five interceptions in his five starts, during which the Niners went 1-4. The one-win San Francisco 49ers will be changing things up to try and get another "W" against the Chicago Bears .

London civil claim lodged against Weinstein
Kadian Noble , 31, said Weinstein groomed her in London by promising a role in a film before attacking her in the French city. The suit argues that based on the aforementioned events, that Harvey Weinstein was in violation of sex trafficking laws.

Ashley Young haunts Watford as Man United hold on to win
Watford made it a nervy finish for the Red Devils at the death after second-half goals from Troy Deeney and Abdoulaye Doucoure. Doucoure was booked for fouling Paul Pogba and Young clinically dispatched a 25-yard free-kick with unerring accuracy.

Tennesseans react to potential head coach shift to Greg Schiano
Schiano developed a relationship with Currie when he was out of coaching for two seasons following his short tenure in Tampa. After he was sacked , he latched on with Ohio State, where he has served as defensive coordinator the past two seasons.

Partridge Family Star David Cassidy Dies at 67
Between 2010 and 2014, he was arrested several times on charges related to drunk driving, and entered rehab multiple times. Cassidy rose to prominence playing wholesome Keith Partridge on the ABC television series " The Partridge Family ".

India outraged at release of Hafiz Saeed
The US treasury department had designated Saeed as a specially-designated global terrorist under executive order 13224 in 2008. In an interview with the BBC , Saeed said the court's decision was proof of his innocence with regard to the Mumbai attacks.