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The Nasdaq technology index would prepare the launch of its future bitcoin contracts for the first quarter of 2019. The New York Stock Exchange maintains its plans despite the collapse of the cryptography market, according to a report released Tuesday, Nov. 27. by Bloomberg.
The information suggests that the Nasdaq worked for minimize doubts or concerns that would have Commodity Futures Trading Commission (CFTC) of the United States, an independent government agency whose mission is to regulate futures markets and options markets.
Two people, who would be aware of the stock market plans, said there was still interest in opening this market for next year. The collapse of crypto-active prices would not affect the creation of the market between January and March 2019.
At this point, it is important to mention that exactly one year ago, press reports indicated that the NASDAQ and Cantor Fitzgerald would launch bitcoin futures in 2018. In November of last year, the market would open in the middle of this year. However, nothing has happened.
Two months later, in January 2018, Adena Friedman, CEO of Nasdaq, said she was rethinking her plans for the future of bitcoin. At that time, the executive indicated that he was pursuing "his inquiry into the idea of cryptocurrency futures with a partner, and we continue badyze risk management in this regard, making sure that we implement the correct protocols, that there is sufficient demand and that the contract is different from those that already exist ".
Bitcoin futures trading
Although Nasdaq's interest in future bitcoins seems to be materializing, it's not the only one that is watching them. In fact, CME Group and Cboe Global Markets have already sold them to investors since last December. Once the two companies have defined their futures, the CFTC has announced an enhanced review process for exchanges seeking to identify derivatives of cryptocurrencies.
In January 2019, Bakkt futures will also be listed, an alliance between Microsoft, Starbucks and the New York Stock Exchange (NYSE), which means that the world's largest stock market will also have a closer relationship with bitcoin futures. This Nasdaq and NYSE approach, with bitcoin-based futures, is presented despite the fact that both have kept a distance from cryptocurrencies in the past.
In CriptoNoticias, we defined future bitcoin contracts as follows: "These are contracts stipulated between two parties that agree to an exchange of badets, in this case bitcoin." (called underlying badet), which sets the price at the time of the contract, but this will be done at a predetermined future date.In this type of contract, two positions are played: a long position and a short position ".
At the time of writing, the bitcoin price was $ 3,712, according to the CoinMarketCap portal.
The selected image of bfishadow / Creative Commons 2.0
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