As we have already two weeks ago reported, the Chicago stock exchange CME to create a regulated trading platform for Bitcoin. To the Financial Times, Terry Duffy, CEO of the Chicago-based CME, said the exchange was preparing for the introduction of a Bitcoin Futures product until the second week of December.
The aim of the CME, it is according to the Interview, especially the new, young attract customers, one of which is an increased demand for Bitcoins go out.
By the end of October, the CME has issued a press release, as a target for the output of Bitcoin Futures, the end of the year was specified. The necessary regulatory approvals have been applied for. Although the CME is confident that you will receive an approval by the Supervisory authorities, sure, but this is. There are numerous adversary that consider the plans of the CME critical.
Thomas Peterffy, Chairman of the “Interactive Brokers”, the largest electronic brokerage firms in the United States, published on Wednesday an article in the Wall Street Journal, in which he stressed the dangers for the traditional capital markets, the plans of the CME and Bitcoin. Because of the extreme volatility of Bitcoin is a danger for other Future products was, according to Peterffy. The market could result in lasting damage.
An indication that a permit is not safe, can also be in April of this year failed launch of the Winkelvoss Bitcoin ETFs. At that time, the U.S. securities and exchange Commission SEC refused to grant the consent due to the extreme rate fluctuations.
To avoid these extreme price fluctuations, to take account of the CME, according to Duffy wild price fluctuations. The CME would like to calculate the price using the “CME CF the Bitcoin Reference Rate (BRR)” and a limit for the trade price is above or below 20 per cent compared to the previous day’s insertion.
Investors can then bets in this framework, on rising and on falling prices. In addition, traders to place 30 percent of the collateral in the event of loss. Whom is interested in the topic, which is also a more detailed info on the website of the CME.
A positive decision by the us Supervisory authorities should give from our point of view, the Bitcoin exchange rate anyway, a strong boost.
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