Cboe launching Bitcoin Future earlier than CME

Cboe announces bitcoin futures to start trading Sunday

Cboe announces bitcoin futures to start trading Sunday

On Friday a U.S. federal regulator gave the go ahead to the CME Group to start trading bitcoin futures later this month, the first time the digital currency will be traded on a Wall Street exchange and subject to federal oversight.

Bitcoin has taken another step toward the financial mainstream, after a United States regulator said it would let two traditional exchanges begin trading in Bitcoin-related financial contracts.

The Chicago Mercantile Exchange also said Friday that it will start offering bitcoin futures trading on December 18.

To view the full article, register now. Its price has jumped more than tenfold this year. It is now worth more than $11,000. "To promote this, we will initially offer XBT futures trading for free." said Ed Tilly, Chairman and Chief Executive Officer of Cboe Global Markets.

The launch of the first bitcoin futures contracts on a regulated USA exchange is expected to be a watershed moment for the cryptocurrency industry.

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CME, which owns various derivative trading platforms such as the Chicago Mercantile Exchange, said in a statement on Friday that there will be risk-management measures in place as bitcoin is a "new, uncharted market".

Bitcoin futures will trade under the "XBT" ticker and will trade for 23 hours.

The new contract will be listed on, and subject to the rules of, CME. But there are a couple of differences between bitcoin futures trading at the two exchanges.

The CEO is optimistic about bitcoin futures trading at CME as he stressed that they have worked closely with CFTC and interested parties to come up with a system that will provide investors with transparency, price discovery and risk transfer capabilities. Bitstamp, GDAX, itBit and Kraken are the constituent exchanges that now contribute the pricing data for calculating the BRR.

Bitcoin has been a hot commodity for investors.

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