CME Group announces Bitcoin options contract
A few days ago the company Bakkt announced the launch of its next Bitcoin options contracts. The announcement was taken with great optimism and is believed to have been one of the fundamentals that boosted the price in the last week.
Today, October 30, 2019, Bakkt's competing company, CME Group announced that they will also launch their own Bitcoin options contracts. Like Bakkt's contracts, its option contracts will be based on one of CME's bitcoin futures contracts and will operate from 5:00 p.m. central time of OGingo until 4:00 p.m. central time on Friday.
The exact release date is not yet decided, however CME has already announced that the contracts will be launched within the first three months of the year 2020, while working on all the necessary regulatory apparatus.
The head of CME, Tim McCurt said: “In the process we are in, we have carried out a thorough validation with the members and, after this announcement, we will continue to interact with market participants who have opinions on how the design should be designed. product and ... We will continue to make sure it meets your needs.”
This news officially starts a new competitive career by giving customers the necessary tools to meet their demands. Clearly, this is good news for the markets as these types of instruments will attract even more investors to the market and it is expected that the price of Bitcoin will begin to resume the upward trend that has been taking a few months ago.