Enero 24, 2018

Interactive Brokers launches bitcoin futures trading (IBKR, CBOE)

11 Diciembre 2017, 10:12 | Azura Castelo

Interactive Brokers launches bitcoin futures trading (IBKR, CBOE)

Interactive Brokers launches bitcoin futures trading (IBKR, CBOE)

"CBOE's is the first to be traded on a major regulated exchange in the U.S., and it's set to be followed next week by CME Group, which has announced that it will launch its own products on Dec. 18".

The start of trading is a first in the history of trading as unlike commodities, bitcoins aren't physical assets and unlike traditional currencies there is no central bank that backs the currency.

Bitcoin has seen good results from the activity in the Chicago exchange.

Paul Donovan, the Global Chief Economist of UBS Wealth Management, put it simply: "UBS believes cryptocurrencies are a bubble... ignoring a bubble is the best course of action".

Three more fund managers are proposing bitcoin funds that would use futures to gain access to the market instead of investing directly in them, filings showed on Monday.

Despite the increasing interest in the cryptocurrency market following the approval from the CFTC, the Futures Industry Association (FIA) has sent a letter to the CFTC criticising the move, arguing that not enough attention has been paid to the risks involved. They triggered not one but two trading halts as it marched to overnight gains of more than 25% on the CBOE. That opening was marked by a near-simultaneous spike in the price of bitcoin and loss of connectivity on the exchange operator's website. "As most investors have bought bitcoin at much lower prices, the relevant losses would arguably be smaller".

This Sunday, the CBOE will launch futures and options on Bitcoin, which may lead to another wave of corrections over the weekend. The exchange also halted trading twice Sunday to stem volatility.

A futures contract is a financial product that allows investors to bet on whether the currency's price will rise or fall.

So far, bitcoin is a hit on Wall Street. Although businesses as a whole are slow to adopt Bitcoin, they are beginning to understand that - to quote Bob Dylan - the times, they are a-changin'. Both circuit breakers in the futures contract were triggered during the extended hours trading session in Asian and early European hours.

The price of a bitcoin has soared since beginning the year below $1,000, hitting a peak of more than $16,858 Dec. 7 on the bitcoin exchange Coindesk.

Down under, the ASX 200 tacked on 0.29 percent to 5,995 at midday.

2,812 contracts have traded for the January settlement date as of press time, 14 for February, and 50 for March. One in European law from University of Trento and the second master's degree in Intellectual Property law from Suffolk University. Since ETNs are a type of debt security, investors will have to watch out for the credit worthiness of the issuing bank.

Bitcoin is stealing gold's thunder as the holiday season approaches.

According to the report, 1,000 people own roughly 40% of the entire Bitcoin market. They are basically lines of computer code that are digitally signed each time they are traded.

What can you say about Bitcoin futures?

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