Moody's rating agency believes that the launch of futures for Bitcoin by the CME and CBOE is unlikely to affect their credit rating.
Moody's report was approximately two months after the launch of derivatives. In the 11-page document, the agency states that the measures taken by the two trading floors to minimize risks, combined with the early stage of market development, do not allow to consider these risks serious.
To date, the volume of trading in bitcoin futures is small, but CME and Cboe expect to play on the interest of the investment community to the underlying asset. The price of bitcoin is highly volatile, but we do not think that the risks of this market will affect the credit rating of CME and Cboe, given the small volume and strong risk management system used by central counterparties.
The report provides an overview of the formation of the futures market, as well as the problems that, according to Moody's, restrain its development, including the volatility of the bitcoin price.
Moody's suggests that the requirements of CME and Cboe can be changed along with the growth of bitcoin volatility, while brokers, in particular TD Ameritrade and E * Trade, will have nothing else to do but follow the vector set by the trading floors.