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Author Topic: [2017-11-08]CME Group Published A Specification For Bitcoin Futures Contracts  (Read 1433 times)
Vialaia
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November 08, 2017, 03:00:07 PM
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The group of the Chicago Mercantile Exchange (CME Group) has published a specification of bitcoin futures contracts, the launch of which is expected in the last quarter of the current year.

As noted on the website of the exchange, one futures contract will contain five bitcoins, and calculations after expiration will be made based on Bitcoin Reference Rate (BRR). The latest is the reference bitcoin against the US dollar, compiled by the CME Group according to the data Bitstamp, GDAX, itBit and Kraken.

Read more https://bit.news/eng/cme-group-published-specification-bitcoin-futures-contracts/
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November 08, 2017, 03:35:19 PM
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Do they have to go through the same shit that the Winklevoss twins had to go through to get a Bitcoin ETF approved or can

they just launch such a service? I am quite exited to see how this is going to work and if it would have any impact on the BTC

price or if it has already been factored in.  Huh This might be the first official door to open for people that do not want to dirty

their hands in technical details and rather trade with what they know.  Grin

 
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November 08, 2017, 04:47:13 PM
 #3

Do they have to go through the same shit that the Winklevoss twins had to go through to get a Bitcoin ETF approved or can they just launch such a service?

It has to be approved by US regulators, so no matter how great and exciting this news is, it only holds value at the time this type of financial product is approved. In easy terms, their expectations of launching in Q4 of this year might turn out to be way off -- everything is basically in the hands of US regulators. It however is a major difference that this is coming from a well known player in the financial world, and not from eccentric entities such as the Winklevoss twins. Chances for an approval are way higher than ever before, but I prefer to remain conservative till it becomes reality. I add value to actions, not to words.
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