According to Coinspeaker, the last Bitcoin futures contract will be closed on June 19 at the Chicago Board Options Exchange (CBOE). Upon expiration of the last contract, the trade in crypto derivatives will be officially stopped. For the first time, the closure of the exchange futures market CBOE was announced in March 2019.
CBOE was the first American exchange to add bitcoin futures to its platform. The launch of the tool was announced a year and a half ago. Then Chris Concannon, ex-president of CBOE Global Markets, said that derivative tools are designed to revolutionize the traditional sphere of finance through the adoption of cryptocurrency.
The Chicago Mercantile Exchange (CME) followed in the footsteps of the CBOE, but at the moment is not going to announce a delay of crypto derivatives trading. On the contrary, the exchange has recently achieved much greater success than ever before. Moreover, on May 13, CME Group reached a record volume of 33,700 contracts, having processed more than one billion dollars in one day.
The reason for this advantage over CBOE could be the CME asset valuation method. If CBOE relied only on a Gemini listing, CME collected data from several platforms, which could affect the level of traders’ confidence in the exchange.
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