Menu

Search

  |   Digital Currency

Menu

  |   Digital Currency

Search

FxWirePro: CME to launch crypto futures amid BTC hits all-time highs

Bitcoin shoots up above $7,449.99 mark a coin against the dollar just at around 8:00 UTC. But, post-rally, the cryptocurrency has slumped slightly below $7,250 area. 

Before we begin with this write up, let’s just know as to how the price of Bitcoin (or any other cryptocurrencies) seems to have exceeded the expectations of optimists and criticism of the pessimists for the first time this week; however, this performance beyond expectation is deemed to render completely arbitrary and speculative opportunities.

Amid this development, the Chicago Mercantile Exchange Group, the universally recognized derivatives contracts exchange, has lately publicized the launch of Bitcoin futures by year-end. As a result, to the announcement, Bitcoin has broken psychological $7,000 level.

Duffy, the chairman and CEO of CME group, mentioned at CNBC that he has been highly assertive that CME’s application would most likely be approved by the US Commodity Futures Trading Commission. He extended by adding concluding note that, “They comprehend the necessity for this application and they understand our model very well”. 

The contract is based on the CME CF Bitcoin Reference Rate (BRR). While the bitcoin futures contract would be settled in cash, the BRR acts as a daily settlement price of the U.S. dollar price of bitcoin. This rate was launched by CME in November 2016 through the London-based digital trading platform Crypto Facilities Ltd.

  • ET PRO
  • Market Data

Market-moving news and views, 24 hours a day >

November 24 15:30 UTC Released

USECRI Weekly Index*

Actual

145.6 %

Forecast

Previous

145.6 %

November 24 14:45 UTC Released

US1st Half-Mth Infl YY*

Actual

54.6 %

Forecast

Previous

54.6 %

November 27 09:00 UTC 29772977m

ITExport Prices*

Actual

Forecast

Previous

111 %

November 27 09:00 UTC 29772977m

ITImport Prices*

Actual

Forecast

Previous

116.1 %

November 27 14:00 UTC 32773277m

MXTrade Balance, $*

Actual

Forecast

Previous

-1.886 Bln USD

November 27 14:00 UTC 32773277m

MXTrade Balance SA*

Actual

Forecast

Previous

-1.559 Bln USD

November 27 15:30 UTC 33673367m

USDallas Fed mfg bus index

Actual

Forecast

Previous

27.6

November 27 21:00 UTC 36973697m

KRBOK Manufacturing BSI*

Actual

Forecast

Previous

87 Bln BRL

November 28 00:00 UTC 38773877m

BRCentral Govt Balance

Actual

Forecast

Previous

-22.725 Bln BRL

November 28 07:00 UTC 42974297m

DEGDP Growth QQ* Advance

Actual

Forecast

Previous

10.7 %

Close

Welcome to EconoTimes

Sign up for daily updates for the most important
stories unfolding in the global economy.