CME CEO: Bitcoin Futures Could Begin Trading As Soon As December

CME CEO Terry Duffy: 'Bitcoin Futures Will Be Out for Listing in the Second Week in December'

Duffy announced on October 31 that CME was going to list bitcoin futures in the fourth quarter of the year, pending regulatory review.

However, Duffy downplayed these concerns and assured skeptics that CME will implement restrictions created to contain the inherent volatility of the bitcoin markets. Speaking with CNBC, Duffy revealed that CME plans to launch bitcoin futures trading during the second week of December.

Among Duffy's notable comments in the interview: insight into how CME would handle major fluctuations in the price.

"I should not be trying to predict the price of products". The creation and launch of such a product boosted the confidence in investors and while cryptocurrencies may face the harsh reality of regulation and bureaucracy from governments and central banks, the financial industry is being disrupted. "But what I want to do is give it a place for other people to lay out that risk".

Bitcoin was highly volatile this weekend.

Mahindra Scorpio launched in India; prices start at Rs 9.97 lakh
The new Mahindra Scorpio now comes with an enhanced mHawk engine to deliver higher power of 103 kW (140 bhp) and torque of 320 Nm. The Scorpio would take on the likes of Tata Safari Storme, Hyundai Creta and Renault Duster.

"With regulated futures of a certain asset class like a bitcoin, you do have an opportunity to introduce ETFs and over time we do envision ETFs coming to market."
So there's only one way it can go. The digital currency then almost recovered all those losses to hit a high of $6,770.37 Monday, before trading near $6,360.

"I think sometime in the second week of December you'll see our contract out for listing."

"I'm going to implement something". However, the price has recovered then, rising to about $6,400. The price settlement will be cash-settled according to the CME CF Bitcoin Reference Rate (BRR), which tracks several bitcoin trading platforms. Institutional investors who may be prohibited from directly purchasing bitcoin will be able to use the futures as a way to buy into the digital currency trend.

CME's venture into the cryptocurrency space also brings about something new - shorting Bitcoin.

Related:

  • After three appeals, NCAA clears State guard Braxton Beverly

    After three appeals, NCAA clears State guard Braxton Beverly

    He should contribute off the bench at NC State because of his outside shooting and ability to create coming off ball screens. But " based on additional information ", the NCAA reconsidered and made the smart, obvious decision.
    NBC Fires Executive Accused of Sexual Harassment

    NBC Fires Executive Accused of Sexual Harassment

    Zimmerman had been with NBC since 2004 and worked mostly on the Today Show. "As a result he has been dismissed", NBC News said in a statement .
    San Marcos Investigating Death Of Texas State Student

    San Marcos Investigating Death Of Texas State Student

    Trauth said she was "deeply saddened" by Ellis' death and was suspending all fraternity and sorority activities at the school. KENS 5 has reached out to local and national representatives for the fraternity, but have not received a response.
  • The Crescent Point Energy Corp (CPG) Price Target Raised to C$21.00

    It has underperformed by 16.70% the S&P500.The move comes after 9 months positive chart setup for the $117.75 million company. Shares of Crescent Point Energy Corporation (CPG) traded down $0.18 during mid-day trading on Monday, hitting $8.41.

    Parametric Portfolio Associates LLC Increases Position in First Potomac Realty Trust (FPO)

    Following the completion of the sale, the director now owns 917,530 shares in the company, valued at approximately $28,902,195. The real estate investment trust reported $0.41 EPS for the quarter, topping the Zacks' consensus estimate of $0.16 by $0.25.
    Taylor Swift's 'Reputation' sells a million copies in four days

    Taylor Swift's 'Reputation' sells a million copies in four days

    Swift reportedly kept " Reputation " off streaming services like Apple Music and Spotify for the first week of release. The singer's long-awaited sixth album arrived just before midnight and naturally it's been all the buzz.
  • Stock Buzz: BB&T Corporation (BBT)

    The insurance provider reported $0.78 earnings per share for the quarter, meeting the Zacks' consensus estimate of $0.78. The value of the investment in BB&T Corp went from $151,665,000 to $152,035,000 a change of 0.2% quarter to quarter.
    'It' Writer Tackling 'Are You Afraid of the Dark?' Movie for Paramount

    'It' Writer Tackling 'Are You Afraid of the Dark?' Movie for Paramount

    The show centered on a (fictional) group called "The Midnight Society", who told spooky stories around a campfire. And like all good '90s childhood nostalgia, it must be adapted into a film.

    Sirius XM Holdings Inc. (NASDAQ:SIRI) Undervalued by 8

    Sirius Xm Hldgs Inc (Put) now has $24.54B valuation. (SIRI) analysts on average have given a price target of $35.76 on SIRI stock. Sirius XM Holdings Inc.'s Average Earnings Estimate for the current quarter is $0.05, according to consensus of 14 analysts.
  • Reese Witherspoon & Zendaya Are Teaming Up on New Film 'A White Lie'

    Reese Witherspoon & Zendaya Are Teaming Up on New Film 'A White Lie'

    This isn't Zendaya's first time taking on the double role of both actress and executive producer. She will also reprise her role as Michelle Jones in the Spider-Man sequel opposite Tom Holland .
    Uber Hit With Another Sexual Assault Lawsuit

    Uber Hit With Another Sexual Assault Lawsuit

    It further says that Uber targets intoxicated passengers as a safe ride for riders who have been drinking. District Court in Northern California, Jane Doe 1 and Jane Doe 2 describe being raped by Uber drivers.
    Global Broadcasters Implicated in FIFA Corruption at Trial

    Global Broadcasters Implicated in FIFA Corruption at Trial

    Televisa spokesman Olmos Cruz Alejandro said the company could not comment without knowing more about the trial testimony. Shares of Twenty First Century Fox were down 2.3 percent at $27.88 in afternoon NYSE trading.

Comments

Latest news

Hot On The Charts: Arrowhead Pharmaceuticals, Inc. (ARWR), Cisco Systems, Inc. (CSCO)
In the most updated research from a number of analysts on Wall Street, the company gets 18 Buys and 0 Sell among 27 analysts. Carlton Hofferkamp And Jenks Wealth Mgmt Limited Liability invested 0.22% of its portfolio in Cisco Systems, Inc .

Unbiased Equity Research: Big Lots, Inc. (BIG), Chesapeake Energy Corporation (CHK)
Kennedy Capital Management Inc. lifted its position in shares of Chesapeake Utilities Corporation by 61.7% during the 2nd quarter. The company's net income for the quarter ended September30 was $6.8 million, compared to$4.4 millionfor the same quarter of 2016.

Dearborn Partners LLC Purchases 9520 Shares of Automatic Data Processing (NYSE:ADP)
The average twelve-month target price among brokers that have updated their coverage on the stock in the previous year is $110.39. The firm has "Buy" rating by Canaccord Genuity given on Friday, June 16. (NYSE:PEP) on Thursday, July 6 with "Buy" rating.

(PYDS) Reaches $2.73 After 8.00% Up Move; Ycg Raised Nike (NKE) Holding
Moreover, State Of Wisconsin Investment Board has 0% invested in New Residential Investment Corp (NYSE:NRZ) for 61,190 shares. According to their observations and findings, the stock could provide a high EPS of $0.58/share and a low EPS of $0.35/share.

Food could be left to rot and massive queues
A government spokesman said the CDS would be able to cope with a "significant increase" in customs declarations at the UK's border.

Ford Motor Company (F) Holdings Trimmed by Brookstone Capital Management
Following the completion of the transaction, the insider now owns 16,230 shares of the company's stock, valued at $586,227.60. The value of the investment in Ford Motor Company went from $89,005,000 to $91,000,000 a change of 2.2% quarter to quarter.

Swiss HSBC settles French tax fraud dispute
HSBC's Swiss private bank said it is ending a long-running French investigation over offshore accounts by paying a fine. It also said that two former directors of HSBC's Swiss private bank remained subject to possible legal action.

Beazer Homes USA Inc 2017 Q2 Institutional Investor Sentiment Better Than Expected
ValuEngine cut shares of Beazer Homes USA from a "buy" rating to a "hold" rating in a report on Friday, September 1st. (NYSE:BZH). As of September 30, 2016, the Company had operations in 13 states within over three geographic regions in the United States.

Trump's approval rating is near his personal low
The latest figures include 28% who Strongly Approve of the way Trump is performing and 45% who Strongly Disapprove. The Rasmussen Reports daily Presidential Tracking Poll for Tuesday shows that 44% of Likely U.S.

The Game Awards gears up for show with nominees list
In 2017, " Super Mario Odyssey " and "Zelda: Breath of the Wild" have been welcomed as two of the best games of all time. The full list of nominations can be found here , along with instructions on how to vote for your favourite.

Rose McGowan Arrested Over Felony Cocaine Warrant
The Metropolitan Washington Airports Authority Police Department obtained the arrest warrant on February 1. Police say they had attempted to contact McGowan so she can appear in a Loudoun County, Virginia, court.

Include Bharat-22 ETF in your satellite portfolio
The new ETF has 22 companies spread across six sectors compared to just 10 stocks spread across five sectors in the CPSE ETF. The ETF will help the government meet its ambitious Rs72,500 crore disinvestment target for the current fiscal.

Panthers rookie wide receiver Curtis Samuel out for the season
Samuel left Monday's game in the third quarter after a Dolphins defensive back fell on Samuel's leg and rolled on his ankle. The Panthers later confirmed the news that Samuel was set to have season-ending surgery.

Eriksen hits hatrick to sink Ireland
The icing on the Danish pastry came right on the blow of full time, a penalty from substitute Niklas Bendtner to turn dream into nightmare for Ireland.

Jack Sock wins at ATP World Tour Finals despite 4am fire alarm
Federer and German third seed Alexander Zverev meet in Tuesday's second match in the Boris Becker Group. "It was probably one of the most annoying noises I've ever heard in my entire life", Sock said.

Other news