Bitcoin Heads to Bigger Wall Street Stage as CME Debuts Futures
The world's largest stock exchange is included in the Bitcoin Revolution
Futures Bitcoin CME Group Inc., a week after the CBOE Global Markets, the rival of Chicago, has introduced equitable derivatives volatile cryptocurrency to start Sunday night business on the site.
The CME version can make a big difference because the company is a more important player in futures delivery in the form of CBOE, approximately 55 times in the first nine months of 2017, according to the Futures Industry Association.
COBE has traded about 10,000 contracts of about $ 180 million for Bitcoin so far, data compiled by Bloomberg Gateet CE, Chief Executive Officer of the DP Chain Encryption Company, said that many brokers could not use this contract because some brokers did not offer them immediately.
"Bitcoin contract CME is probably not the first, but they are more important And we look forward to our customers to exchange their products on Sunday night, "said Dudley Brooks, Vice President of Risk in New York. An Email" Everyone in the market is not able to sell COE bitcoin less, we have Your customers are allowed to take long or short positions to take advantage of the clutter between the futures and the underlying spot market. .
The future of CME is another step in the mainstream financial world for the assets built after government's financial crisis in 2008 as an alternative to banks and currencies issued by the government. Contracts, which are settled in dollars and do business on regulated markets, can be bought by institutional investors, which Bidcoins are not allowed to purchase directly in irregular markets. "The biggest problem of institutional investing in digital assets is that banks and big institutions can not have an irregular means in their balance sheets, and futures contract is possible," said Digital Director Gabor Guberbeck, with the futures " You do not catch physical bitcoins, which solve the problem of custodial and counterparty risks with these low regulated stock exchanges.
In order to avoid fluctuations in unexpected prices, CME will abruptly suspend trading if contracts rise or fall by 7% or 13%, and prices can not exceed up to 20% COBE also prevents instability , Which began in the first hour of business a week ago, and its January contract increased to 26 percent on the first day.