CME Will Not Introduce Altcoin Futures at Anytime

CME Will Not Introduce Altcoin Futures at Anytime

The Chicago Mercantile exchange won’t introduce futures on cryptocurrencies nonetheless bitcoin within the close to future, CME CEO(Terry Duffy) disclosed an interview with Bloomberg July 26. Terry Duffy express that the corporate ought to develop and assess an approach for bitcoin.

Duffy emphasized that the Altcoin futures contract cannot be launched immediately because they are “highly volatile and new”, and the company cannot list products for business just to see where they are going. “Duffy said,” I’ll wait and see the approach with bitcoin right now. ” ”

The CEO said earlier this year that it would be “slightly irresponsible” to list the other crypto, reiterating the company’s previous position on the launch of altcoin futures.

CME, one of the most important exchanges worldwide, launched bitcoin futures business on December 17, every week when BTC  futures were introduced by the largest U.S. choices exchange.

CME has tried to be careful to start Altcoin futures, while its main competitor CBOE is “definitely monitoring other markets, “ CBOE director Dennis O’Callaghan for product development has an interview. O’Callaghan said, “… we are definitely monitoring other markets to ensure that the infrastructure and everything is in place if we want to move forward to other cryptocurrencies.”

Last week, CME  said that the BTC futures average daily volume has increased by 93 % in the second quarter of the first quarter of 2018, whereas the number of open contracts on Bitcoin futures has increased by more than 2,400, which is 58% increase has been Q1.

 

 

About The Author

Related posts

Leave a Reply

Your email address will not be published. Required fields are marked *