Just a year ago it would have been unthinkable for even the most enthusiastic crypto advocate that the cryptocurrency industry would be so welcomed into mainstream financial institutions as it has been this past year. Currently, two of the world's largest mainstream exchange platforms, CME Group and Cboe, are racing to be the first traditional investment platform to offer its clients the opportunity to finally participate in the booming market, albeit in a safer and more regulated forum.
Earlier today Cboe announced that they will launch their Cboe Futures Exchange (CFE) initiative as early as December 10th. This initiative will allow Cboe clients to partake in speculative bitcoin trading and is planned for launch over a week before their competitor CME Group intends to launch their bitcoin futures exchange. While this is likely to attract a host of more traditional investors, Cboe has added another interesting incentive; the first month of trading will be free for all users during the month of December.
According to Cboe Global Markets CEO and Chairman, Ed Tilly, the high demand for bitcoin among their clientele finally urged the firm to introduce bitcoin futures on their platform. Tilly added that the firm is dedicated to providing its users with enough trading tools to enhance their experience, while also providing them with a safer environment, allowing them to participate in the bitcoin market more comfortably. The chairman noted that their bitcoin futures feature will be free of charge for the first month in order to encourage liquidity and fairness.
The latest feature will be traded on the CFE under the symbol XBT. All trading tools available for Bitcoin futures will be contract-based on the exchange and Gemini’s price for bitcoin. Futures contracts will be settled in cash of US dollar denominations.
According to Cboe, their XBT futures option has been designed in such a way to expose its users to the market while also providing them with user-friendly trading strategies and a simple to understand user interface.
The firm previously announced that they intend to provide several contracts with various expires cycles, including four serial expirations. The firm has also previously hinted that they intend to add a futures trading option for Bitcoin Cash in the future, a move which is likely to give them a competitive edge over CME Group.
Earlier today Cboe announced that they will launch their Cboe Futures Exchange (CFE) initiative as early as December 10th. This initiative will allow Cboe clients to partake in speculative bitcoin trading and is planned for launch over a week before their competitor CME Group intends to launch their bitcoin futures exchange. While this is likely to attract a host of more traditional investors, Cboe has added another interesting incentive; the first month of trading will be free for all users during the month of December.
According to Cboe Global Markets CEO and Chairman, Ed Tilly, the high demand for bitcoin among their clientele finally urged the firm to introduce bitcoin futures on their platform. Tilly added that the firm is dedicated to providing its users with enough trading tools to enhance their experience, while also providing them with a safer environment, allowing them to participate in the bitcoin market more comfortably. The chairman noted that their bitcoin futures feature will be free of charge for the first month in order to encourage liquidity and fairness.
The latest feature will be traded on the CFE under the symbol XBT. All trading tools available for Bitcoin futures will be contract-based on the exchange and Gemini’s price for bitcoin. Futures contracts will be settled in cash of US dollar denominations.
According to Cboe, their XBT futures option has been designed in such a way to expose its users to the market while also providing them with user-friendly trading strategies and a simple to understand user interface.
The firm previously announced that they intend to provide several contracts with various expires cycles, including four serial expirations. The firm has also previously hinted that they intend to add a futures trading option for Bitcoin Cash in the future, a move which is likely to give them a competitive edge over CME Group.