"Cboe Plans December 10 Launch of Bitcoin Futures Trading" https://www.prnewswire.com/news-rel...nch-of-bitcoin-futures-trading-300565666.html https://seekingalpha.com/news/33159...-launch-dec-10-hedge-funds-prepping-big-short https://www.bloomberg.com/news/arti...-hedge-funds-prepare-to-trade-against-bitcoin .
CBOE Bitcoin margin requirements: https://www.elitetrader.com/et/thre...oin-is-unregulated.315686/page-2#post-4558969 44% of the daily settlement price according to the above thread. .
"Cboe Plans December 10 Launch of Bitcoin Futures Trading" https://www.prnewswire.com/news-rel...nch-of-bitcoin-futures-trading-300565666.html "Cboe Global Markets, Inc. (Cboe: CBOE | Nasdaq: CBOE), one of the world's largest exchange holding companies, today announced that Cboe Futures Exchange (CFE), plans to offer trading in bitcoin futures beginning at 5:00 p.m. CT on Sunday, December 10, 2017, at the start of Global Trading Hours. " .
From the contract specifications: http://cfe.cboe.com/cfe-products/xbt-cboe-bitcoin-futures/contract-specifications "Description: Cboe Bitcoin (USD) futures are cash-settled futures contracts that are based on the Gemini auction price for bitcoin in U.S. dollars." "Final Settlement Value: The Final Settlement Value of an expiring XBT futures contract shall be the official auction price for bitcoin in U.S. dollars determined at 4:00 p.m. Eastern Time on the Final Settlement Date by the Gemini Exchange (the "Gemini Exchange Auction"). If the Gemini Exchange Auction price is not within Gemini's parameters for a Gemini Exchange Auction price, the Final Settlement Value is otherwise not available, or the normal settlement procedure cannot be utilized due to a trading disruption or other unusual circumstance, the process detailed in the Contingencies section below will be utilized." https://gemini.com/ https://www.cryptocompare.com/coins/btc/markets/USD .
I thought trading was set to commence at 5pm Chicago / 6pm ET ? "Cboe Global Markets, Inc. (Cboe: CBOE | Nasdaq: CBOE), one of the world's largest exchange holding companies, today announced that Cboe Futures Exchange (CFE), plans to offer trading in bitcoin futures beginning at 5:00 p.m. CT on Sunday, December 10, 2017, at the start of Global Trading Hours. " .
I wonder how they came to pick Gemini as the settlement price quote? I mean Winklevoss twins? really? And its like the 7th most active exchange to boot.
Initial observation: Gemini price: $15,380 (approx) CFE futures Jan 2018: $15,750 x $15,800 So the Gemini price is at least $370 higher than the underlying Gemini price, which in turn is about $550 higher than the price at Bitstamp. .