CBOE plans to reduce the price of a bitcoin futures

CBOE plans to reduce the price of a bitcoin futures

Chicago Board options exchange (CBOE) decided to change their methods of pricing of futures contracts on the Bitcoin.

In a recently published letter to the Commission on trade commodity futures (CFTC) dated 17 April, managing Director, CBOE Future Exchange (CFEE) Matthew Mcfarland announced changes in regulations that will reduce the minimum step of futures contracts with 10 points ($10 USD) to 5 points ($5) after may 1.

This decision will have a “positive impact on the market XBT-futures” — says Mcfarland.

The change will only affect those traders who trade in the same direction. Sredovye transaction in which an investor buys and sells two different contract at the same time, will not change — currently, the minimum step is 0.01 points ($0.01), and reads the letter.

The decision on this amendment was made based on data collected by the company since the launch of trade futures contracts in December 2017.

The company intends to continue to evaluate the XBT trading experience-futures and can make the decision on the implementation of the new changes that are associated with XBT-futures, in the light of that experience

Mcfarland continued:

“CBOE believes that the amendment will have a positive impact on the community and participants of the market.”

Such comments coincide with the positive views of the company management expressed in public discussion on the topic of their crypto products. For example, last month in a letter sent to the Commission on securities and exchange Commission (SEC), senior managing Director CBOE Global Markets argued that the market will support the investment open a bitcoin Fund (ETF).

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