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Future of Bitcoin Futures: CME Gives Details, Regulator Pushes Back

 

CME Gives Precious Bitcoin Futures Detail

Lily Katz reports CME’s head of equity products, Tim McCourt, detailing of coming bitcoin futures. Mr. McCourt “said the exchange has put safeguards such as higher margin levels and limits on positions and prices in place to curb risks on the bitcoin futures it plans to offer,” she noted.

Bitcoiners the world over anticipate the entrance of CME to the ecosystem. Chicago Merc was founded just prior to the turn of the 20th century, and rests comfortably now as the largest futures exchange in the world some one hundred and twenty years later.

 

CEO of Bit Go Mike Bleshe, however, is quoted as saying he’s “skeptical they’ll launch this year,” as legacy business might “not be comfortable with bitcoin futures yet,” Ms. Katz paraphrases him predicting.

CME plans normal daily settlement for bitcoin futures will be “based on trading activity on CME Globex between 15:59:00 and 16:00:00 London time.” In three tiers, the company outlined trades (1), market data (2), and the absence of two-sided markets (3).

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