First specifications are out:
http://www.cmegroup.com/trading/bitcoin-futures.htmlI think they are going to make a mistake by setting tick value this high ($25/tick/contract). It shouldn't be more than $12.5. I think Because of the huge volatility the size should be something about $5/tick.
Anyway this contract is a VERY much expected product and will create a whole new asset class into industry. In future when big players and market makers will enter into these contracts you really can expect very tight spreads making this product very efficient to trade when comparing to OTC services currently available.
Transparent markets are allways a good thing for the traders and this is what futures will offer for you. Bid/Ask games can of course be played but there is no middle man messing around with your orders.
So everybody who are not familar with the futures I'll give you this advice go and figure out what they are. It really is worth !
