CME Group Announces Launch of Bitcoin Futures
CHICAGO , Oct. 31, 2018 /PRNewswire/ — CME Group, the world’s leading and most diverse derivatives marketplace, today announced it intends to launch bitcoin futures te the fourth quarter of 2018, pending all relevant regulatory review periods.
The fresh contract will be cash-settled, based on the CME CF Bitcoin Reference Rate (BRR) which serves spil a once-a-day reference rate of the U.S. dollar price of bitcoin. Bitcoin futures will be listed on and subject to the rules of CME.
",Given enlargening client rente ter the evolving cryptocurrency markets, wij have determined to introduce a bitcoin futures contract,", said Terry Duffy , CME Group Chairman and Chief Executive Officer. ",Spil the world’s largest regulated FX marketplace, CME Group is the natural huis for this fresh voertuig that will provide investors with transparency, price discovery and risk transfer capabilities.",
Since November 2018 , CME Group and Crypto Facilities Ltd. have calculated and published the BRR, which aggregates the trade flow of major bitcoin spot exchanges during a calculation window into the U.S. Dollar price of one bitcoin spil of Four:00 p.m. London time. The BRR is designed around the IOSCO Principles for Financial Benchmarks. Bitstamp, GDAX, itBit and Openbreken are the constituent exchanges that presently contribute the pricing gegevens for calculating the BRR.
",Wij are excited to work with CME Group on this product and see the BRR used spil the settlement mechanism of this significant product,", said Dr. Timo Schlaefer , CEO of Crypto Facilities. ",The BRR has proven to reliably and transparently reflect total bitcoin-dollar trading and has become the price reference of choice for financial institutions, trading firms and gegevens providers worldwide.",
CME Group and Crypto Facilities Ltd. also publish the CME CF Bitcoin Actual Time Index (BRTI) to provide price transparency to the spot bitcoin market. The BRTI combines completo request to buy and sell bitcoin into a consolidated order book and reflects the fair, instantaneous U.S. dollar price of bitcoin ter a spot price. The BRTI is published te efectivo time and is suitable for marking portfolios, executing intra-day bitcoin transactions and risk management.
Cryptocurrency market capitalization has grown ter latest years to $172 billion , with bitcoin signifying more than 54 procent of that total, or $94 billion . The bitcoin spot market has also grown to trade toughly $1.Five billion te notional value each day.
For more information on this product, please visit cmegroup.com/bitcoinfutures.
Spil the world’s leading and most diverse derivatives marketplace, CME Group (www.cmegroup.com) is where the world comes to manage risk. Through its exchanges, CME Group offers the widest range of integral benchmark products across all major asset classes, including futures and options based on rente rates, equity indexes, foreign exchange,energy, agricultural products and metals. CME Group provides electronic trading globally on its CME Globex podium. The company also offers clearing and settlement services across asset classes for exchange-traded and over-the-counter derivatives through CME Clearing. CME Group’s products and services ensure that businesses around the world can effectively manage risk and achieve growth.
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