After the launch of bitcoin futures at CBOE last week the worlds largest derivatives marketplace, CME Group, launched futures for the digital currency yesterday; some believe the launch of futures on both marketplaces has helped to drove the price to record levels; CME bitcoin futures are based on the CME CF Bitcoin Reference Rate which aggregates trading across major exchanges. Source.
Bitcoin futures debuted on Wall Street Sunday by the CBOE and some of the biggest banks are unsure whether or not to offer them to clients; JPMorgan Chase and Citigroup are playing a wait and see game; some firms are excited to get started though they are hesitant to open discuss it as they risk potentially contradicting previous statements by their CEOs; the volatility is the biggest concern for banks as they just are not comfortable with the wild swings. Source.
CBOE CEO Edward Tilly told the Financial News that recent criticism about bitcoin futures was “uncalled for”; “I think letters like that and cheap shots to our regulator, the CFTC, are uncalled for to make it seem this was an overnight self-certification without the proper amount of CFTC involvement,” explained Mr. Tilly; he explained that the Options Clearing Corporation clears the contracts for the CBOE and was comfortable with their decision of bitcoin. Source.