A Bright Start for CME Futures

20 December, 2017, 01:26 | Author: Sheri Evans
  • Bitcoin Continues To See Unprecedented Growth

Bitcoin futures received a lukewarm reception at its launch on the CME Group on Sunday, although market experts believe a recent rally in the cryptocurrency has further to go.

Trading volume for the CME futures has been light, with less than 650 contracts changing hands in the first eight hours of trading, compared with nearly 2,500 over the same time frame during Cboe's debut. The website's Bitcoin Price Index had it priced at $19,400 at the time CME launched the contracts.

Giant CME exchange launches bitcoin futures to muted response
Bitcoin futures on the world's biggest derivatives exchange signal the boom isn't over yet

Current eligible and newly funded TradeStation futures account holders can trade on both the CFE and CME Bitcoin futures contracts. CME is a much bigger player in futures, so many traders expect it to make a bigger splash in the nascent space.

"The launch should increase buy-side pressure and potentially be the catalyst that pushes bitcoin above US$20,000,"said fund manager Shane Chanel of ASR Wealth Advisers in Melbourne". On its debut on December 10, the Cboe traded almost 4,000 contracts during the full session. However, this morning it opened at $19,086, and fell as low as $18,831, 1.3 per cent lower. But two days later Cboe Global Markets said it was launching its own futures contract on December 10, a week before CME. The margin for an S&P 500 futures contract, by contrast, is just 5 per cent, analysts said.

United Kingdom to vote against Trump's Jerusalem decision
Rycroft said his country believes Jerusalem is a final-status issue and should be a shared capital of Israelis and Palestinians. Echoed by Abbas, he said that the USA "destroyed" the two state solution and "undermined all peace efforts".

The derivatives exchange was one of the first to move from the open outcry, "pit-style", form of trading common in the nineties, to a full-fledged electronic trading platform.

Are Bitcoin futures good or bad for the crypto market? The order book was pretty thin and "the orders that are there are very small". "We have had a lot of customer interest, and we have spent a lot of time educating them as to the differences between the two products". The company will not offer CME contracts until it demonstrates sufficient liquidity. Goldman Sachs Group Inc. demanded some clients set aside collateral equal to 100 percent of the value of their trades, people familiar with the investments said last week.

#ANC54: KZN, FS and Bojanala branches will not vote
He said the NEC decided the provincial executive committees (PECs) of KwaZulu-Natal and the Free State would not be allowed to vote on any matter.

CME Group and Crypto Facilities will involve in the calculation and publication of BRR, which combines the trade flow of major Bitcoin spot exchanges during a calculation window into the US dollar price of one Bitcoin.

Weather Forecast: Light snow tonight
See some tips on staying warm here and call 911 or head to an emergency room if you start to see any symptoms . It should taper off betwen 7 and 9 p.m.in New York City and about midnight on the east end of Long Island.

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