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ARTICLE · 09 NOVEMBER 2017

Possible Launch Of Bitcoin Futures By CME Group

Pryor Cashman LLP
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Building on its work in calculating and publishing the CME CF Bitcoin Reference Rate (BRR), CME Group has announced that it plans to launch a new cash-settled bitcoin contract ...

United StatesTechnology
Bertrand C. Fry
Bertrand C. Fry
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Building on its work in calculating and publishing the CME CF Bitcoin Reference Rate (BRR), CME Group has announced that it plans to launch a new cash-settled bitcoin contract that will allow bitcoin futures to be listed on and traded subject to the rules of the CME. The launch remains subject to all relevant regulatory reviews. In its formal press release, CME Group states that it aims to complete the launch by the end of 2017. 

Previously, in July 2017, the U.S. Commodity Futures Trading Commission (CFTC) voted unanimously to grant Ledger X, LLC status as a registered derivatives clearing organization and a registered swap execution facility under the U.S. Commodity Exchange Act (CEA). Those orders authorized LedgerX to provide clearing services for fully collateralized digital currency swaps and for bitcoin options. If CME Group obtains the requisite approvals for bitcoin futures, the path for trading swaps, options, and futures on bitcoin will have been cleared.

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