Option exchange giant CBOE may launch earlier than CME bitcoin futures
In the past two weeks, many bitcoin supporters have been focused on the upcoming year last quarter bitcoin futures market. This week, the Chicago Board Options Exchange (CBOE) announced the company bitcoin derivatives contracts, investors are very interested in the new trading tools. CBOE CFARussellRhoads “futures standard” said the authors, he really do not know how the futures prices affect bitcoin spot market price.
CBOE reveals that the bitcoin futures transaction size behind the stock is “XBT”.
The largest U.S. options exchange CBOE is planning to launch its bitcoin futures products in the fourth quarter of this year, at the same time, the Chicago Mercantile Exchange, CME also recently announced the launch of currency futures. The Chicago Board Options Exchange annual contract volume of more than $2 billion, providing derivatives of 2200 companies, 140 ETF and 22 stock index. Now, CBOE is the bitcoin exchange Gemini trust company (bitcoinexchange) cooperation, create a futures contract, will be involved in the field of bitcoin transactions. Two weeks ago, CBOE CEO Chris Buchanan Kang? (ChrisConcannon) and chief operating officer explained that the company is crypto currency “believers”.
Bitcoin futures specification details of CBOE to illustrate the potential of the stock will be called “XBT”, the contract settlement value will be XBTS. The company explained that the product will have a number of contracts, a contract period expires, there are several, four series of products expire.
CBOE CFARussellRhoads said: “the contract multiplier is 1, so if the contract transactions with bitcoin, according to the current price of about $7900, the lowest price for 10 non directional trading points or $10, arbitrage will result in a more than 0.01 bitcoin or $0.01 in a much smaller scale.”
CBOE CFA do not know how the futures price and spot price associated with bitcoin
American Options Exchange on Sunday night between 5 to 3:15 in the afternoon on Friday trading. The Chicago Board Options Exchange will provide a longer time for the bitcoin trading futures, all transactions will be encrypted currency “Gemini coins” auction price based, in dollars. Rhoads also explained that he often asked the question: “what is the relationship between the futures price and spot price of bitcoin?” CBOEe CFA revealed that he does not know what will happen, he said:
“I can give the best (and most honest) the answer is, ‘I don’t know, I did research in the past released new products, and these products in the new market hypothesis is usually not correct.”
Rhoads said: “I have heard about the futures trading point of view, whether it is at a premium or discount, I personally think that the best strategy is to look at the market tell us what time bitcoin futures trading.”
CBOE will soon join the other companies, such as LedgerX and CME group to create a bitcoin futures environment. The Chicago Board Options Exchange announced bitcoin futures in Chicago commodity exchange is the disclosure of the error after the release date announced in the company’s futures. CBOE at the Chicago Mercantile Exchange before the launch of its competitors encryption derivatives.