First bitcoin futures traded

For the first time, forward contracts, so-called futures, have been traded on a regulated exchange for different asset classes. The demand turned out to be so great that the limits set to prevent volatility had to be put into practice immediately.

While recently CME was the first to announce its intention to launch bitcoin futures, Cboe eventually appears to have won the race. The contracts were launched last night, where CME is only the eighteenth to market the bitcoin product.

Like CME, Cboe has also set limits to limit price fluctuations. Cboe does not apply a price limit, but temporarily suspend trading when the price deviates from the opening price by 10 and 20 percent. To create peace of mind, it is then not possible to buy and sell contracts for a few minutes.

Shortly after the launch of the futures, it turned out that these limits had to be called. Within hours, contracts had passed both 10 and 20 percent, halting trading twice. The contracts traded for January 17 at a price of $17840, the February 14 contracts for $17730 and the March 14 contracts for $18260.

Cboe itself also seemed surprised by the interest. The website became very slow due to the many visitors and was sometimes not accessible at all.

Due to heavy traffic on our website, visitors to may find that it is performing slower than usual and may at times be temporarily unavailable. All trading systems are operating normally.

?????ǥ Cboe (@CBOE) December 10, 2017

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