22 February 2018
Visit www.capgemini.com/worldreports

CBOE beats rival CME to punch for bitcoin futures trading

04 December 2017  |  1847 views  |  0 Source: CBOE

Cboe Global Markets, Inc. (Cboe: CBOE | Nasdaq: CBOE), one of the world's largest exchange holding companies, today announced that Cboe Futures Exchange (CFE), 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.

Monday, December 11, will be the first full day of trading, and trading will be free[1] through December.

Cboe's bitcoin futures will trade on CFE under the ticker symbol 'XBT.' XBTSM futures are cash-settled contracts based on Gemini's auction price for bitcoin, denominated in U.S. dollars. Gemini Trust Company, LLC (Gemini) is a digital asset exchange and custodian that allows customers to buy, sell, and store digital assets such as bitcoin. XBT futures are specifically designed to allow participants to implement straightforward trading strategies, through settlement to a single, tradeable auction price.

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. We are committed to encouraging fairness and liquidity in the bitcoin market. To promote this, we will initially offer XBT futures trading for free."

Tyler Winklevoss, Chief Executive Officer of Gemini, said: "Developing a regulated derivatives market is the next logical and crucial step towards advancing the broader digital asset market. We have been working for years to build infrastructure to grow the digital asset market and today's news marks a significant milestone."

On Friday, December 1, Cboe announced that CFE had filed a product certification with the Commodity Futures Trading Commission (CFTC) to offer bitcoin futures trading[2]. More information on XBT futures is available at www.cboe.com/xbt.

Over the last five years, the total value of all bitcoin outstanding (i.e., "market capitalization") has grown from less than $1 billion to over $183 billion[3] with daily notional turnover over $10 billion. The total value of all cryptocurrency tokens outstanding is now approximately $332 billion.

[1] This fee waiver applies to all CFE transaction fees for XBT futures in December 2017.
[2] The product certification does not constitute CFTC endorsement of the use or value of virtual currency products or derivatives.
[3] All data given as of December 1, 2017, source: https://coinmarketcap.com/

Comments: (0)

Comment on this story (membership required)

Related company news

 

Related blogs

Create a blog about this story (membership required)
visit www.capgemini.com/worldreportsvisit www.nextgenbanking.co.ukVisit www.vasco.com

Top topics

Most viewed Most shared
ABN Amro moves escrow accounts to the blockchainABN Amro moves escrow accounts to the bloc...
10329 views comments | 15 tweets | 13 linkedin
Coinbase and Visa at loggerheads over erroneous charges on customer crypto accountsCoinbase and Visa at loggerheads over erro...
8577 views comments | 13 tweets | 12 linkedin
Ripple makes new connections to emerging marketsRipple makes new connections to emerging m...
8306 views comments | 13 tweets | 6 linkedin
hands typing furiouslySome Interesting Applications Of The Inter...
7365 views 3 | 7 tweets | 1 linkedin
BBVA-backed digital banking startup targets gig economy workersBBVA-backed digital banking startup target...
7307 views comments | 8 tweets | 12 linkedin

Featured job

Competitive base + commission + benefits
New York City, NY - USA

Find your next job