CME Plans to Double the Limit of Open Positions for Bitcoin Futures
The Chicago Exchange is making grand plans for Bitcoin futures. CME wants crypto traders to hold more open positions at the same time. The exchange management has already sent a letter to CFTC, where it expressed a desire to increase the limit of spot positions for Bitcoin futures. This will increase the number of transactions for a crypto investor from 1 to 2 thousand. Given that each transaction is meant for 5 BTC, the maximum risk for traders will increase from 5 thousand Bitcoins, which is equivalent to 50 million dollars, to 2 thousand contracts. This is 10 thousand Bitcoin, that is, 100 million dollars. Note that at the moment only a small part of crypto traders has such a number of open positions. A record high was registered in mid-summer - 6.1 thousand contracts. The exchange sees prospects, therefore seeks to increase the limits on Bitcoin futures contracts. If the regulator approves the proposal, it will come into force from the end of September 2019.