One of the most significant events for Bitcoin in 2017 just a few hours. At 17:00 Central us time (UTC-6) 10 Dec (02:00 December 11, Moscow time), the largest options exchange in the United States, the Chicago Board Options Exchange (CBOE), plans to start trading cryptocurrency derivatives. Futures on bitcoin will be traded under the Ticker XBT. Many wonder how this will affect current markets and the Economics of cryptocurrencies in General.
In anticipation of the launch of bitcoin futures for the third day is in a correction rally from its record of 3-4 thousand dollars (at most exchanges, the pullback stopped at around $13,000). At the time of publication, the price rose slightly, although the overall downward correction and many believe that this is due to the upcoming auction, as many players in traditional markets are critical to bitcoins and can start playing against him. At the moment nobody can predict how the derivatives markets affect spot markets, so many people prefer to «sit on the fence» and go in Fiat currency to ride out the storm in them.
Exchange contracts on the CBOE are not related to real bitcoins, all trades are bound to cash in US dollars at the time of the calculations. However, the size of the contracts is equal to «one bitcoin» and is based on the rate of BTC crypto-currency exchange Gemini.
Currently, there are no restrictions on price, but during the trading sessions, the most volatile moments, the markets CBOE bitcoin can be suspended.
With investors who decide to invest in futures products CBOE will apply the main retail tariff of $ 1 per contract, but for the whole December, the firm refused a Commission from the fee. For the purchase of contracts XBT, people or organizations will have to contact your brokerage firm.
However, at the moment, many financial institutions are not ready to take on the task of selling these tools. Institutional customers can purchase the XBT from the more well-known brokerage firms such as Goldman Sachs and JP Morgan. But while these companies are offer futures on bitcoin only a certain group of customers.