The Chicago Board Options Exchange (Cboe) published the bitcoin derivative contract for investors. The base ticker will be called “XBT” and settlement values of the contract will be in XBTS. This products will have multiple contracts with several expiry cycles and also four serial expirations. As well, Cboe will be offering expanded trading hours for this bitcoin futures. Everything will be cash-settled based on the Gemini auction price for bitcoin in U.S. dollars.
The contract multiplier will be 1 so if a contract is trading at parity with bitcoin it will be worth about $7,900 based on current pricing — The minimum tick for a directional, non-spread trade is 10 points or $10, and a spread trade will have a much smaller tick of 0.01 bitcoin or $0.01.
Russell Rhoads, Cboe’s CFA
They are going to launch its bitcoin futures products in Q4. Cboe are going to create futures contracts jointly with Gemini Trust Company, LLC. Also Cboe is going to join the other firms to create a bitcoin futures environment (for example LedgerX and CME Group).
Cboe exchanges over $2B in annual contract volumes of the trading, and offers products for 2,200 companies, 140 ETFs, and 22 indices of the stock. May be Cboe should could offer crypto-derivatives options before its first competitor CME.