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Default Post No. 329108

The second major financial derivative based on bitcoin is starting out to trade on the Chicago Mercantile Exchange.
The CHICAGO MERCANTILE EXCHANGE Group, one of the nation's most significant exchanges of options and futures ,started out bitcoin options contracts for trading at 6 p.m. EST Sunday. The initial price for bitcoin futures was $20,650, and the electronic currency was trading at $20,135 at 6:08 p.m. EST.
The digital currency has exploded in popularity and profit this year whilst drawing challenges regarding its volatility.
The CME bitcoin options contracts, like the bitcoin futures that now trade on the Chicago Board Options Exchange, do not contain actual bitcoin. They will mirror an index of bitcoin price. Each contract will be for 5 bitcoin.


This is article No. 7710103, please modify or add main body content.


Bitcoin futures trading on the Cboe Futures Exchange slumped on Wednesday, even forcing a trading halt in the afternoon when they fell 10%.
The tick size - the minimum amount by which the value of the futures contract can change - is 5 USD per BTC, therefore 25 USD per CME Bitcoin futures contract. The Commodity Futures Trading Commission and the National Futures Association regulate the futures markets. Indeed, the average daily trading volume the month after the CME issued futures was approximately six times larger than when only the CBOE offered these derivatives.

They agree to pay the difference between the opening price and closing price of a particular market or asset.
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