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CME will begin bitcoin futures trading

U.S. financial companies CME Group, CBOE and Cantor Fitzgerald have shown today they will list financial products offering access to cryptocurrencies since December 18.

01.Dec.17 1:49 PM
By Daria Zaytseva


CME will begin bitcoin futures trading

First published in a statement by the U.S. Commodity Futures Trading Commission (CFTC), the regulator said that all three companies will conduct a self- certified initial listing, after working with the agency to establish a standard for the offerings.

Disclosure occurs a few weeks after CME indicated through its website that it would launch the product on December 11, before postponing the comments, and a few months after CBOE reported it, would also seek to launch a futures product.

Both CME and CBOE will offer cash contracts that will find investors buying exposure to various reference rates that will not require the storage of assets. CME will use a customized reference rate created with partner Crypto Facilities, while CBOE intends to use data from the New York-based cryptocurrency exchange Gemini.

Cantor Exchange, a subsidiary of Cantor Fitzgerald, will offer binary options of bitcoin, starting from that date.

However, CFTC Commissioner J. Christopher Giancarlo quickly warned that the products would be regulated under its complete control, noting its "limited statutory ability" to oversee the main cash markets for bitcoin trading.

The regulator also indicated that it would closely monitor the developing market for financial products related to bitcoin.

Despite warnings those that listing the products expressed optimism about their release.

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