CME Group roll out bitcoin contract on December 18th

Chicago Mercantile Exchange (CME) Group officially held bitcoin futures on December 18th. The world's largest exchange has announced the product of bitcoin futures contracts will be launched on Monday, December 18, 2017 and the exchange has announced the initial listing of bitcoin-based certificates.

"We are delighted to bring the future of bitcoin to the market after working with CFTC and market participants to design offers that will give investors an idea of transparency, price discovery and risk transfer capabilities," said CME Group Inc. CEO Terrence Duffy.

Tinuku CME Group roll out bitcoin contract on December 18th

Cryptocurrency as a futuristic currency is further expanding in the financial revolution in which large corporations have sought to adopt just like any other traditional business. CBOE Global Markets Inc. and Nasdaq Inc have also announced bitcoin future contract.

CME Group bitcoin products will be available for trading on CME Globex platform. Futures contracts will be repaid with reference to CME CF Bitcoin Reference Rate (BRR). The rate is based on daily rates that utilize the USD price in some spot exchange.

"When launched, our new bitcoin futures contract will be subject to various risk management tools, including an initial margin of 35 percent, stock and intraday price limits, and a host of other risk and credit controls offered by CME Group on all products," Duffy said.

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