With the futures marketplace warming quickly to Bitcoin, CME Group and CBOE Markets have both jumped out of the gates as early leaders. For its part, IG Group already holds approximately 20 percent of the Bitcoin positions offered by CME Group, per a Bloomberg report.
“The futures market has a number of open contracts, and if you look at the CME contract, we hold 20 percent of the open interest. We don’t want any more,” noted IG Group’s Chief Executive Officer Peter Hetherington in a recent company briefing.
The share makes IG Group one of the largest holders of Bitcoin futures after nearly one month of being available. CME Group had launched Bitcoin futures on December 18, 2017, with margin requirements set at 35 percent. IG Group does not yet have any position via CBOE as of yet, though it is looking to do so this month.
According to Mr. Hetherington: “We would love to use Cboe as well, we can’t at the moment, because we don’t have a clearer yet. We will have a clearer at the end of the week.” The decision would effectively allow even more individuals to trade Bitcoin and other cryptos on IG Group’s platform.
At the present, IG Group hedges its exposure to Bitcoin as well as five other cryptos via futures. As such, these positions are held from network connections in secure locations to prevent any sort of hack, theft, or abuse. For IG Group, the finite amount of Bitcoin traded on its network represents a key threshold given its hedging.
IG Group is not the only venue that sees a bright future for Bitcoin futures contracts. Mr. Hetherington also sees grounds for banks beginning to utilize Bitcoin contracts on these exchanges as they mature – such a trend would strongly increase the demand for these instruments with both CME Group and CBOE strategically positioned.
Bitcoin’s price has been unable to test new highs since last month, when it nearly made a run for $20,000 during which CME introduced its Bitcoin futures offering. At the time of writing, Bitcoin is trading at $13,861 with a market cap of $232.8 billion.
With the futures marketplace warming quickly to Bitcoin, CME Group and CBOE Markets have both jumped out of the gates as early leaders. For its part, IG Group already holds approximately 20 percent of the Bitcoin positions offered by CME Group, per a Bloomberg report.
“The futures market has a number of open contracts, and if you look at the CME contract, we hold 20 percent of the open interest. We don’t want any more,” noted IG Group’s Chief Executive Officer Peter Hetherington in a recent company briefing.
The share makes IG Group one of the largest holders of Bitcoin futures after nearly one month of being available. CME Group had launched Bitcoin futures on December 18, 2017, with margin requirements set at 35 percent. IG Group does not yet have any position via CBOE as of yet, though it is looking to do so this month.
According to Mr. Hetherington: “We would love to use Cboe as well, we can’t at the moment, because we don’t have a clearer yet. We will have a clearer at the end of the week.” The decision would effectively allow even more individuals to trade Bitcoin and other cryptos on IG Group’s platform.
At the present, IG Group hedges its exposure to Bitcoin as well as five other cryptos via futures. As such, these positions are held from network connections in secure locations to prevent any sort of hack, theft, or abuse. For IG Group, the finite amount of Bitcoin traded on its network represents a key threshold given its hedging.
IG Group is not the only venue that sees a bright future for Bitcoin futures contracts. Mr. Hetherington also sees grounds for banks beginning to utilize Bitcoin contracts on these exchanges as they mature – such a trend would strongly increase the demand for these instruments with both CME Group and CBOE strategically positioned.
Bitcoin’s price has been unable to test new highs since last month, when it nearly made a run for $20,000 during which CME introduced its Bitcoin futures offering. At the time of writing, Bitcoin is trading at $13,861 with a market cap of $232.8 billion.
Lebowa Capital's Jimmy Moyaha at an FMLS:24 panel discussion
Lebowa Capital's Jimmy Moyaha at an FMLS:24 panel discussion
Lebowa Capital's Jimmy Moyaha at an FMLS:24 panel discussion
Lebowa Capital's Jimmy Moyaha at an FMLS:24 panel discussion
Lebowa Capital's Jimmy Moyaha at an FMLS:24 panel discussion
Lebowa Capital's Jimmy Moyaha at an FMLS:24 panel discussion
Lebowa Capital's Jimmy Moyaha at an FMLS:24 panel discussion explaining the impact of news on trading.
Lebowa Capital's Jimmy Moyaha at an FMLS:24 panel discussion explaining the impact of news on trading.
Lebowa Capital's Jimmy Moyaha at an FMLS:24 panel discussion explaining the impact of news on trading.
Lebowa Capital's Jimmy Moyaha at an FMLS:24 panel discussion explaining the impact of news on trading.
Lebowa Capital's Jimmy Moyaha at an FMLS:24 panel discussion explaining the impact of news on trading.
Lebowa Capital's Jimmy Moyaha at an FMLS:24 panel discussion explaining the impact of news on trading.
Doo Prime's Fraser Nelson is explaining the challenges of liquidity in different markets.
Doo Prime's Fraser Nelson is explaining the challenges of liquidity in different markets.
Doo Prime's Fraser Nelson is explaining the challenges of liquidity in different markets.
Doo Prime's Fraser Nelson is explaining the challenges of liquidity in different markets.
Doo Prime's Fraser Nelson is explaining the challenges of liquidity in different markets.
Doo Prime's Fraser Nelson is explaining the challenges of liquidity in different markets.
Doo Prime's Fraser Nelson is explaining the challenges of liquidity in different markets while participating in a panel discussion on "How to Trade the News."
Doo Prime's Fraser Nelson is explaining the challenges of liquidity in different markets while participating in a panel discussion on "How to Trade the News."
Doo Prime's Fraser Nelson is explaining the challenges of liquidity in different markets while participating in a panel discussion on "How to Trade the News."
Doo Prime's Fraser Nelson is explaining the challenges of liquidity in different markets while participating in a panel discussion on "How to Trade the News."
Doo Prime's Fraser Nelson is explaining the challenges of liquidity in different markets while participating in a panel discussion on "How to Trade the News."
Doo Prime's Fraser Nelson is explaining the challenges of liquidity in different markets while participating in a panel discussion on "How to Trade the News."
FMLS:24 exhibition venue is crowded on the second day.
FMLS:24 exhibition venue is crowded on the second day.
FMLS:24 exhibition venue is crowded on the second day.
FMLS:24 exhibition venue is crowded on the second day.
FMLS:24 exhibition venue is crowded on the second day.
FMLS:24 exhibition venue is crowded on the second day.
Panel Discussion on "Regulation, Trust, and the Future of Trading in Africa"
Panel Discussion on "Regulation, Trust, and the Future of Trading in Africa"
Panel Discussion on "Regulation, Trust, and the Future of Trading in Africa"
Panel Discussion on "Regulation, Trust, and the Future of Trading in Africa"
Panel Discussion on "Regulation, Trust, and the Future of Trading in Africa"
Panel Discussion on "Regulation, Trust, and the Future of Trading in Africa"
Experts discuss the topic "Regulation, Trust, and the Future of Trading in Africa" at FMLS:24
Experts discuss the topic "Regulation, Trust, and the Future of Trading in Africa" at FMLS:24
Experts discuss the topic "Regulation, Trust, and the Future of Trading in Africa" at FMLS:24
Experts discuss the topic "Regulation, Trust, and the Future of Trading in Africa" at FMLS:24
Experts discuss the topic "Regulation, Trust, and the Future of Trading in Africa" at FMLS:24
Experts discuss the topic "Regulation, Trust, and the Future of Trading in Africa" at FMLS:24