CME head says bitcoin futures will consider the coin's wild volatility and attract young people

pulse

November 16, 2017 2:22 PM

CME, the exchange group, is preparing to launch a bitcoin futures product by the second week of December.

Terry Duffy, the head of exchange giant CME, told
take into consideration bitcoin's wild price swings.
Duffy said the product is a "
The exchange is preparing to launch a bitcoin futures product by the second week of December.

Terry Duffy, the head of exchange giant CME, is defending a new bitcoin futures product the firm is preparing to launch by the end of the year.

The exchange operator told the Financial Times that the new product, which will allow traders to bet on the future price of the cryptocurrency, will take into consideration the extreme price swings of bitcoin.

“Listen, it’s no mystery, this is a different product,” Duffy told the FT. “We want to get out something that’s safe.”

Thomas Peterffy, the chairman of Interactive Brokers, the largest electronic brokerage firm in the US took out a full page ad in The Wall Street Journal Wednesday to warn regulators about the dangers bitcoin futures could present to traditional capital markets.

Read the full report at the FT >>

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