RATE Group | No, CME Did Not Shut Down Bitcoin Derivatives Market
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No, CME Did Not Shut Down Bitcoin Derivatives Market

12 Mar No, CME Did Not Shut Down Bitcoin Derivatives Market

Posted at 10:46h in Bitcoin News by

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No, CME Did Not Shut Down Bitcoin Derivatives Market 101
Source: iStock/artisticco

Following an announcement from CME Group yesterday, some might get confused that the major derivatives market would shut down trading in bitcoin (BTC) futures & options, along with trading in other assets. Fortunately, this is not the case.

What CME really said was that their “Chicago trading floor” would close for business as a precaution to prevent the spread of Coronavirus. However, it also added that “all products will continue to trade on CME Globex as they do today.”

CME Globex is CME’s electronic trading system where futures and options on all assets offered by the exchange are traded on a daily basis by the majority of market participants.

The only thing that is closing, is, in other words, the floor where old-school floor trading takes place. In practice, this only represents a tiny share of the total trading activity nowadays, although it used to be where all trading happened before the digital age. CME is one of just a few…

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