Bitcoin futures $18,000 on CBOE debut
The bitcoin price traded at US$16,356 or 9 percent from the previous day in the CoinDesk index tracking prices from Bitstamp, Coinbase and Bitfinex. As trading started at 7:00 pm Hong Kong time on Monday, the CBOE website briefly dropped.
Under the CBOE rules, a 10 percent price move triggered a two-minute halt, while a 20 percent move triggered a five-minute halt. CBOE is the world's first traditional stock exchange that launches bitcoin futures trading using Gemini Trust prices.
One futures contract will be worth one bitcoin available 24 hours a day for 5 days a week. The CBOE website provides only the offer price and relevant information where all future trades should be made through the broker.
The Chicago Mercantile Exchange (CME) Group will also launch bitcoin futures trading on December 18. The CME contract is based on an index of four bitcoin exchanges are Bitstamp, GDAX, itBit and Kraken.
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