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Blockchain & Bitcoin Conference Cyprus
November2018

Another one: CME Group has started trading bitcoin futures

Another one: CME Group has started trading bitcoin futures

On December 18, at local midnight time, CME Group in Chicago launched trading bitcoin futures. It is the second exchange producing bitcoin futures. The pioneer is CBOE that started the same operations on December 10, also located in Chicago.

Bitcoin futures sales are effected on a platform CME Globex. As conditions of tender, the exchange directory has chosen CME CF Bitcoin Reference Rate between the bitcoin and the dollar. When agreeing upon the rate, the specialists at CME Group learn the data provided by such services as Bitstamp, Kraken, GDAX, and itBit.

Right after the launch, bitcoin futures produced in January by CME Group soared to $20 065. However, the price went down, and in about three hours, the contracts cost $18 800. It should be noted that after the launch, traders purchased 200 futures in an hour, and 630 – in five hours. Moreover, February futures also were traded for $20 000, as well as March and June – for $20 030 and $20 040 correspondingly.

Other exchanges also show interest in contracts for bitcoin futures. For example, the largest European trading platform Deutsche Boerse is investigating the possibility of the bitcoin futures launching though the exact date is not specified now. Meanwhile, Tokyo Financial Exchange promises to announce the launch as soon as the needed amendments are presented in the legislation.

 

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Valeriy Gordyna

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