The United States announced that CFTC will allow the Chicago and CBOE launched bitcoin futures
The Commodity Futures Trading Commission (CFTC) said on Friday that will allow the Chicago (CME.O) and CBOEGlobalMarkets (CBOE.O) launched bitcoin futures, because the two companies have proved that contracts and trading arrangements are in line with plans to launch the necessary regulations.
The CFTC announced for Chicago and the Chicago Board Options Exchange (CBOE) became the first launch of bitcoin related financial contracts are regulated by the traditional exchanges pave the way, this will be a watershed in the history of the development of bitcoin on, should lead to greater regulatory review.
An CFTC official said, the Chicago CBOE transactions with bitcoin futures contracts will be launched before the end of the year. Bitcoin futures pricing will bitcoin spot market as a benchmark, and settlement in the spot market.
Bitcoin this week for the first time this year is $11000, up more than 10 times, attracted a lot of bubble warning.
In order to prevent sharp fluctuations in Chicago, and CBOE will implement more stringent risk management mechanism than in the past, including the initial margin ratio of 35-40%.
The two exchanges also agreed to develop information sharing agreement, and the settlement program data to the CFTC, the CFTC is capable of self supervision.