18 February 2018
visit www.nextgenbanking.co.uk/

CBOE inks bitcoin market data licensing deal with Gemini

02 August 2017  |  3624 views  |  0 Source: CBOE

CBOE Holdings, Inc. (BATS: CBOE | NASDAQ: CBOE) and Gemini Trust Company, LLC (Gemini) today announced an agreement that provides Chicago Board Options Exchange, Incorporated (CBOE) and its affiliates with an exclusive global license to use Gemini’s bitcoin market data for bitcoin derivatives and indices.

Gemini is a digital asset exchange and custodian that allows customers to buy, sell, and store digital assets such as bitcoin and ether. Gemini is a New York trust company that is subject to fiduciary obligations, capital reserve requirements, and banking compliance standards of the New York State Department of Financial Services.

Under the terms of the agreement, CBOE will have a multi-year exclusive global license permitting it to use Gemini’s market data, including Gemini daily bitcoin auction values, in the creation of bitcoin derivatives products for listing and trading. Pending regulatory review[1] by the U.S. Commodity Futures Trading Commission (CFTC), cash-settled bitcoin futures are planned to be made available for trading on CFE by the fourth quarter of 2017. Moreover, CBOE will retain exclusive rights to use Gemini market data for the creation of new indexes, as well as rights to distribute Gemini market data over CBOE’s market data feeds.

Ed Tilly, CBOE Holdings Chairman and Chief Executive Officer, said: “CBOE is not only a home to options, derivatives and the VIX but also ETF innovations and foreign exchange. This makes us the natural choice for the development and trading of bitcoin futures. We very much look forward to responding to the growing interest in cryptocurrencies through the creation of bitcoin futures traded on a regulated derivatives exchange, with the many expected benefits that this brings, including transparency, price discovery, deep liquidity and centralized clearing.”

Mr. Tilly continued: “Gemini has demonstrated time and again its foresight and expertise in this area of finance. The team’s focus and determination to grow the bitcoin market and secure appropriate regulatory oversight as a New York trust company makes them ideal for this venture. We are incredibly proud of this agreement and look forward to all that we can achieve together.”

Added Tyler Winklevoss, Chief Executive Officer of Gemini: “Gemini’s key concerns in the cryptocurrency ecosystem have always been security, compliance, and regulatory oversight. By working with the team at CBOE, we are helping to make bitcoin and other cryptocurrencies increasingly accessible to both retail and institutional investors.”

Over the last five years, the total value of all bitcoin outstanding (i.e., “market capitalization”) has grown from less than $1 billion to nearly $50 billion. The total value of all cryptocurrency tokens outstanding is now approximately $100 billion. 

Comments: (0)

Comment on this story (membership required)

Related company news

 

Related blogs

Create a blog about this story (membership required)
visit www.swift.com/your-needs/instant-paymentsvisit www.nextgenbanking.co.ukvisit http://info.nice.com

Who is commenting?

Top topics

Most viewed Most shared
Saudi central bank provides sandbox for banks to try out Ripple techSaudi central bank provides sandbox for ba...
10789 views comments | 16 tweets | 11 linkedin
Aussie real-time payments platform goes liveAussie real-time payments platform goes li...
8442 views comments | 15 tweets | 42 linkedin
ECB launches staunch defence of cashECB launches staunch defence of cash
8180 views 10 comments | 21 tweets | 26 linkedin
hands typing furiouslyHow can Blockchain Help with AML KYC
7894 views 3 | 9 tweets | 6 linkedin

Featured job

Competitive base + commission + benefits
UK or Germany

Find your next job