CFTC Warns on Bitcoin Futures as Exchanges Ready Contracts
Market participants express concern over potential risks these contracts could pose to clearinghouses, as exchanges self-certify contracts for trading.
The US Commodity Futures Trading Commission (CFTC) made the unusually guarded statement as the Chicago Mercantile Exchange Group (CME) announced that it had self-certified its futures contract for trading, starting December 18. It added that it had not given its approval to the instrument yet.
The CME contract will have an initial margin rate of 35 percent, the exchange group said, following intensive discussions with CFTC staff over the past several months. It will be a fully cash-settled
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