Bitcoin rebounds after United States regulator approves futures

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While CBOE is now under regulatory approval and review, CME has set to launch its bitcoin futures in less than three weeks on Monday, December 18, 2017.

At the same time, the Commodity Futures Trading Commission (CFTC) also announced that Cboe Futures Exchange (CFE) has self-certified new contracts for Bitcoin futures products, and that the Cantor Exchange (Cantor) has self-certified a new contract for Bitcoin binary options.

The futures exchanges must coordinate to help spot market manipulation, flash rallies, trading outages and other problems on the unregulated exchanges where bitcoin is traded, as they could affect futures prices, he said in a statement.

"We are pleased to bring Bitcoin futures to market after working closely with the CFTC and market participants to design a regulated offering that will provide investors with transparency, price discovery, and risk transfer capabilities", said Terry Duffy, CME Group Chairman and Chief Executive Officer.

The new contract will be accessible to traders via the CME Globex electronic trading platform, and for submission for clearing via CME ClearPort.

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For more on CME's views on its forthcoming product, view our interview with managing director of equity products, Tim McCourt, below.

The exchanges assured the CFTC that the new products complied with the rules under a process of self-certification. CME and CBOE have also agreed to enter into information-sharing agreements and to send the CFTC data on the settlement process so the regulator can conduct its own surveillance.

Cboe said they are "operational ready".

Cantor Fitzgerald LP has an interest in the exchanges because it is planning to create a derivative of the cyrptocurrency.

Bitcoin soared above $11,000 for the first time this week, up tenfold year-to-date and prompting multiple warnings of a bubble.

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