RATE Group | CME Takes Its Bitcoin Options Live, Competing With ICE’s Bakkt
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CME Takes Its Bitcoin Options Live, Competing With ICE’s Bakkt

13 Jan CME Takes Its Bitcoin Options Live, Competing With ICE’s Bakkt

Posted at 17:47h in Bitcoin News by

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Chicago exchange CME Group has announced its highly anticipated bitcoin options are now open for trading.

Options on CME’s bitcoin futures contracts launched on the CME Globex around 15:00 UTC Monday. Each contract, quoted in U.S. dollars, represents five bitcoin and is cleared centrally to avoid counterparty risk. CME relies on trade flow data from several of the large bitcoin exchanges to accurately track bitcoin’s price.

Bitcoin derivatives have been available on multiple cryptocurrency exchanges since at least 2014, but CME was one of the first platforms to offer investors regulated products when it first launched its cash-settled bitcoin futures in December 2017.

Bitcoin options had a strong start to 2019. Last week, daily volumes surged to surpass $90 million by Friday, according to data collected from analytics firm Skew. Approximately 95 percent of all trades last year took place on the Dutch-based exchange Deribit, which announced Thursday it was moving its operations to…

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