Bitcoin Cash: Pre-Fork Uncertainty Forces OKEx to Close Futures Market Early
News – CCN
bitcoin Cash: Pre-Fork Uncertainty Forces OKEx to Close Futures Market Early
Facing significant price instability ahead of tomorrow’s contentious bitcoin Cash hard fork, major crypto exchange OKEx abruptly closed its BCH futures markets ahead of their scheduled expiration dates and provided early delivery to customers. bitcoin Cash Fork Leads to Premature Futures Delivery The Malta-based OKEx announced the early BCH futures delivery on Wednesday, stating that …
The famous cryptocurrency exchange platform, Gemini, agreed to sell its bitcoin market data to the Chicago Board Options Exchange, Incorporated (CBOE).
The cryptocurrency exchange, , was founded in 2016 by the famous Winklevoss twins. In October of that same year, the exchange officially received permission from the New York State Department of Financial Services to operate in 31 states. Gemini’s major focus had originally centered around bitcoin trading, however, with the popularity and value of Ethereum rising exponentially, the exchange added Ethereum trading in May of 2016. Currently, the exchange has a daily transaction volume of $52 million.
An Agreement with the CBOE
According to an official , Gemini and the Chicago Board Options Exchange (CBOE) entered into an agreement to exclusively use Gemini’s bitcoin market data. The details of the agreement state that CBOE will have an exclusive global multi-year license to use the exchange’s market data.
The cryptocurrency exchange’s market data will help the CBOE to create bitcoin derivatives products for listing and trading. Currently, the CBOE is awaiting regulatory approval from the , in order to launch its cash-settled bitcoin futures. The report suggests that cash-settled bitcoin futures will be available for trading on the CBOE Futures Exchange in the fourth quarter of 2017 or early 2018.
Ed Tilly, Chairman and Chief Executive Officer of CBOE Holdings, said:
Gemini has demonstrated time and again its foresight and expertise in this area of finance. The team’s focus and determination to grow the bitcoin market and secure appropriate regulatory oversight as a New Yorktrust company makes them ideal for this venture. We are incredibly proud of this agreement and look forward to all that we can achieve together.
Gemini’s Chief Executive Officer of Gemini Tyler Winklevoss also added:
Gemini’s key concerns in the cryptocurrency ecosystem have always been security, compliance, and regulatory oversight. By working with the team at CBOE, we are helping to make bitcoin and other cryptocurrencies increasingly accessible to both retail and institutional investors.
bitcoin users believe that bitcoin based futures will enable Wall Street traders and investors to get into the bitcoin ‘game’ without affecting their ordinary portfolios.
What are your thoughts on the agreement between CBOE and Gemini? Do you think that bitcoin futures will succeed? Let us know in the comments below!
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