than the price they purchased the contract for, it would not be surprising if the whales pumped up Bitcoin price in the days leading. Similar to the cboe contract, the CME futures are cash settled, and after reviewing the initial margin requirement ahead of launch the CME raised it this week from 35 to 47 for speculative accounts, modestly higher than the cboes 44 initial margin requirement. If whales went long and colluded to pump up Bitcoin price, they would not have the opportunity to buy back coins at a discounted price-this does not seem like a logical position for an experienced investor to be in nine days before CME Groups first. CMEs BTC will trade on CME Globex and CME ClearPort Sunday to Friday from.m. Dollars, allowing exposure to the bitcoin without actually having to hold any of the cryptocurrency. Third, there may be some investors who have been unable or unwilling to buy bitcoins on unregulated exchanges that are more willing to use regulated futures exchanges (though.g. Monday through to 9:30.m. In the days shortly after the first futures contracts expire, it would not be surprising to see the whales who took short positions use their profits from trading on exchanges and the futures market to buy back Bitcoin at the discounted price that they might. There are a number of potential factors that could put upward pressure on this convenience yield, keeping the futures contracts trading above spot prices.
Bitcoin Futures"s - CME Group
Bitcoin Futures - CME Group
CME Bitcoin Futures expire date
Bitcoin Futures Cme Date - Oct 19, 2018 - Bitcoin Price
Bitcoin (BTC) - CME Bitcoin Futures Expiration - 23 Feb
Contract unit, the Cboe Bitcoin Futures Contract will use the ticker XBT and will equal one bitcoin. Cboes contract will be priced off of a single auction at.m. Trading Hours, cME Globex and CME ClearPort: 5:00.m. Contract expirations, cboe said it may list up to four weekly contracts, three near-term serial months, and three months on the March quarterly cycle. The settlement price of the CME futures will be based on a weighted average of prices from several exchanges (including Bitstamp, gdax, itBit and Kraken rather than a single exchange. Pending regulatory review and certification, view Rulebook Details. It is possible that the whales took a short position in their contracts, meaning they believe the price of the Bitcoin futures contract will be below the contracts purchase price at the date of expiration. As CME Bitcoin futures begin trading today, there will be competition between the two exchanges to attract volumes.
In addition, some participants might prefer to have the option of taking physical delivery of Bitcoins, similar to how commodity futures have traditionally been settled, rather than delivery in cash that then has to be converted to Bitcoin separately. CME said it will list monthly contracts for the nearest two months in the March quarterly cycle (March, June, Sept., Dec.) plus the nearest two serial months not in the March quarterly cycle. Cboe will halt trading in its contract for 2 minutes if the best bid in the XBT futures contract closest to expiration is 10 percent or more above or below the daily settlement price of that contract on the prior business day. The guidelines are inclusive of other margin requirements such as Options Clearing Corp. Maybe nothing will happen at all and Im over thinking how the market will react, maybe Jan.17 and 26 will not be significant dates for the Bitcoin economy.
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