Bitcoin rebounds after USA regulator approves futures

Barron's On Why Bitcoin Has Stormed Wall Street

Bitcoin futures trading is coming to the Chicago Mercantile Exchange and the CBOE Futures Exchange, the first traditional exchanges to wade into the cryptocurrency market, after a federal regulator said it had discussions with the exchanges to protect customers.

The U.S. derivatives regulator said on Friday it would allow CME Group Inc and CBOE Global Markets Inc to list bitcoin futures, after the rival bourses showed their proposed contracts and trading arrangements met necessary requirements.

While CBOE is now under regulatory approval and review, CME has set to launch its bitcoin futures in less than three weeks on Monday, December 18, 2017.

Cboe said they are "operational ready". Bitcoin prices have surged more than tenfold this year and earlier this week moved past $11,000 before dropping.

Argentine navy calls off search for survivors from missing submarine
More than a dozen countries are still searching for the submarine which went missing on the South Atlantic on a patrol. Navy spokesperson Enrique Balbi said the mission had "extended for more than twice what is estimated for a rescue".

Bitcoin, which had been trading at around $10,150 U.S. on the Luxembourg-based Bitstamp exchange before the news, jumped following the news, leaving it up more than six per cent on the day. While CFTC approval isn't required, the regulatory body could have halted the CME's plans if it wasn't satisfied with the self-certification.

CFTC Chairman Christopher Giancarlo warned investors, however, that the nascent underlying bitcoin cash markets remained largely unregulated and mostly beyond the commission's purview. We expect that the futures exchanges, through information sharing agreements, will be monitoring the trading activity on the relevant cash platforms for potential impacts on the futures contracts' price discovery process, including potential market manipulation and market dislocations due to flash rallies and crashes and trading outages. "Nevertheless, investors should be aware of the potentially high level of volatility and risk in trading these contracts", Giancarlo adds.

The agency said the exchanges agreed to modify the derivatives contracts and promised to coordinate with the CFTC and each other to guard against market manipulation and other irregularities.

Still, at launch, Duffy explained the bitcoin futures product will be subject to risk management tools, including a margin of 35 percent, position and intraday price limits.

Related news:

Hot News

isis-killer-beheading-video-story-top Kroger Co Stock Soars on Impressive Holiday Outlook
Dec 02, 2017 - 00:08
Capital Investment Counsel Inc's holdings in Kroger Company (The) were worth $552,000 at the end of the most recent quarter. Analysts are also projecting an Average Revenue Estimate for The Kroger Co .as $27.46 Million in the Current Quarter.

isis-killer-beheading-video-story-top Here's when you can expect rain Thursday — TIMELINE
Dec 01, 2017 - 06:41
Clear skies will stick around this morning and early afternoon, but more clouds will move back into the area this evening. So Saturday and Sunday will feature more sunshine and comfortable afternoon temperatures for this time of the year.

isis-killer-beheading-video-story-top 5 militants killed in two separate encounters in Kashmir
Dec 01, 2017 - 06:39
In a separate ongoing encounter, a militant was killed and a paratrooper injured in Sagipora village of Sopore in north Kashmir. He added that the protesters torched a private pickup van which was being used by the security forces in the operation.

isis-killer-beheading-video-story-top Rick Pitino Sues Louisville ... You Owe Me $38 MILLION!!
Dec 01, 2017 - 06:38
By dismissing him "for cause", the school maintains it owes the coach none of the more than $40 million in compensation left on his contract.

isis-killer-beheading-video-story-top Tax reform proposal has some area college students anxious
Dec 01, 2017 - 06:38
So, we set out to consider a variety of scenarios using real tuition and income to bring possible taxation changes into focus. With some programs lasting up to a decade, the tax law will make a PhD financially impossible for many of them.

isis-killer-beheading-video-story-top Everton hire Sam Allardyce as manager on 18-month deal
Dec 01, 2017 - 06:38
Earlier on in the season they tweeted a congratulations message to Arsenal after a 5-2 victory against the Toffees . Everton , who are now 13th in the league and face Huddersfield on Saturday, are yet to confirm his appointment.

isis-killer-beheading-video-story-top Christmas parade set Monday, 100 entries expected downtown
Dec 01, 2017 - 06:36
Decatur's "Christmas in Toyland" parade will roll through downtown's Second Avenue and Bank Street on Monday at 6 p.m. The parade starts at 6 p.m. on Saturday and will be followed by a tree lighting ceremony and band performance.

isis-killer-beheading-video-story-top Rains hit south Tamil Nadu, Kerala as cyclone Ochki heads to Lakshadweep
Dec 01, 2017 - 06:36
It asked officials to shelter people living in low lying areas in the southern districts in multi-purpose evacuation centres. Thiruvananthapuram MP Shashi Tharoor tweeted; "Some 450 Kerala fishermen on 80 boats missing at sea since last night".

isis-killer-beheading-video-story-top Teenager 'goes too far' in quest to look like Angelina Jolie
Dec 01, 2017 - 06:36
Brazilian Rodrigo Alves is well known for his body transformation as part of a quest to become a Human Ken Doll. Featured recently in Belgium's Sud Info , Sahar said her goal in life is to look like the Hollywood actress.

isis-killer-beheading-video-story-top Why the flu shot this year may not protect you
Dec 01, 2017 - 06:35
H3N2 is also a particularly nasty strain, Fauci said. "Unfortunately, this is an example of how serious flu can be", said Dr. That's why it's important to remember the most important item on your holiday checklist: the flu vaccine .

isis-killer-beheading-video-story-top Conor McGregor's Late Arrival to Court Leads to Arrest Threat
Dec 01, 2017 - 06:34
McGregor had pleaded guilty to a charge of driving at 158kph (98mph) in a 100kph (62mph) zone on March 31st previous year . On that date, Judge Walsh said McGregor must either appear in court himself - or send a legal representative.

isis-killer-beheading-video-story-top How to watch the only visible "supermoon" of 2017 this weekend
Dec 01, 2017 - 06:25
Do I need special glasses to watch the supermoon? When the moon is both full and closest to us, we get a big , bright supermoon. The moon's average distance from the Earth is approximately 238,000 miles. "The moon's orbit is not a ideal circle".

isis-killer-beheading-video-story-top Jury: Mexican man not guilty in San Francisco pier killing
Dec 01, 2017 - 06:24
Attorney General Jeff Sessions condemned San Francisco's sanctuary city policy in the wake of a not-guilty verdict. Such cities often do not use municipal funds or resources to enforce federal immigration laws.

isis-killer-beheading-video-story-top IFFI 2017: Cinema is poetic justice in three hours, says Amitabh Bachchan
Nov 30, 2017 - 14:03
Big B received the award at the recently concluded International Film Festival of India in Goa. Superstar Akshay Kumar touched the feet of Amitabh Bachchan for his blessing on the stage.

isis-killer-beheading-video-story-top Here's the Newly Redesigned Snapchat
Nov 30, 2017 - 14:03
Instead, rival services have managed to copy Snapchat's most popular features and make them available to a broader audience. Before, Snapchat mixed photo and video stories from friends with content from publishers.