Cboe has beaten CME, Will be Launching Bitcoin Futures on December 10
December 5, 2017 7:22 am
Cboe Global Markets (Nasdaq: CBOE) has announced today that, its Cboe Futures Exchange (CFE) subsidiary is planning to offer the trading in bitcoin futures beginning on Sunday, December 10, just after a week before the CME planned the launch. Trying to attract the investors to its venue over CME’s, the Cboe head also announced that trading will be free through the December.
“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.”
The Cboe’s bitcoin futures will be traded on CFE under the ticker symbol ‘XBT’. The new instruments are cash-settled contracts which are based on the Gemini exchange’s auction price for the bitcoin, Controlling the U.S dollars.
The company explains that its XBT futures are specially designed to allow the participants to implement straightforward trading methods, by setting into a single, traceable price.
Before itself, the company had said that they will have the multiple contracts with several expiry cycles and also four serial expirations, among other details as well. It has even proposed that in the future Cboe may add futures trading on the bitcoin cash to differentiate its offering from the larger CME