CBOE will start trading ETH-futures this year

[Paha87]

CBOE Global Markets is one of the world's largest exchange holding companies, which owns the Chicago options exchange (CBOE) plans to launch futures on Ethereum (ETH).

Sources familiar with the situation told Business Insider that Global Markets CBOE intends to launch ETH-futures by the end of 2018. It is reported that CBOE as the basis for its ETH futures, uses the Gemini market; as before, CBOE has launched bitcoin futures based on the same new York crypto-exchange of the Winklevoss twins.

CBOE launched bitcoin futures in December last year. Futures are an agreement to buy and sell an asset on a certain date in the future at a certain price and allow investors to speculate on the price of BTC without actually having bitcoins.

A person familiar with the matter has informed Business Insider that CBOE is currently awaiting a decision by the commodity futures trading Commission (CFTC) to launch the project ahead of its official launch.

Another major financial regulator from the US, the securities and exchange Commission (SEC), said in June that Ethereum "is not collateral" for the creation of derivative financial instruments. CBOE global Markets President Chris Concannon said:"This announcement contains a stumbling block to creating Ether futures (ETH), a case we've been considering since the launch of the first bitcoin futures in December 2017."

Last month Chicago Mercantile exchange (CME) released a report on average daily volume of futures trading to BTC, saying that "in the second quarter compared to the first quarter of 2018, it increased by 93 percent." CME also said that "the open interest rate or number of open futures contracts on BTC exceeded 2'400, which is 58% more than in the first quarter."

CME began trading of bitcoin futures on December 17, a few days after the launch of BTC-futures on the CBOE. Later in July, CME CEO Terry Duffy said that "the company will not be adding cryptocurrency futures in the near future," citing its volatility as the main reason for such a decision.

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