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CME Group named the launch date of futures for Bitcoin Index

The Chicago Mercantile Exchange (CME Group) officially named the date of launch of futures trading on the bitcoin index.

As stated in the Exchange statement , this will happen on Monday, December 18, 2017 after the successful self-certification of the listing.

"We are pleased to offer bitcoin futures and work closely with the Commodity Futures Trading Commission (CFTC) and market participants to create a regulated offer that will give investors transparency, opening prices and transferring risk, " said CME Group CEO Terry Duffy .
He also noted that, although the stock exchange did a long and deep work with the CFTC to offer traders this tool, bitcoin remains a new and little-known market that will continue to develop. This process, according to Duffy, will require further cooperation with the Commission and the clients of the exchange.

The new contracts will be launched on the CME Globex platform on a cash settlement basis and will be based on the CME CF Bitcoin Reference Rate (BRR), the reference bitcoin against the US dollar compiled by the CME Group on Bitstamp, GDAX, itBit and Kraken.

At the initial stage, futures contracts will be associated with various risk management instruments, including an initial margin of 35%, limits on positions and intraday prices, noted Terry Duffy.

Previously, the head of CME Group said that the decision to launch trading in bitcoin futures is in no way connected with the sharply increased this year at the price of the first crypto currency.

Today's news has already led to a new round of bitcoin price growth, which in a short period of time rose close to the $ 10,700 mark.