The largest platform in commercial futures contracts CME Group on Tuesday announced its plans to launched futures for Bitcoin.
According to the CME Group report, a financial tool will appear in the fourth quarter of 2017. It will be calculated (non-deliverable) and be based on the CME CF Bitcoin Reference Rate (BRR).
BRR is a standardized operator reference rate based on the data of an array of Bitcoin exchanges and showing the cost of the cryptocurrency in US dollars.
Noted in the CME Group report is the growing interests clients have in digital currencies. Thus, Bitcoin will obtain official registration on the futures market, having received a status in this vein that is similar to oil or gold.We will note that this is not the first such initiative. In August, the main competitor of CME Group was CBOE Global Holdings, also informed of its plans in launching Bitcoin futures. In this instance, this also means time periods until the end of 2017.We will note that for the time being operations with Bitcoin by way of traditional financial markets are possible via Bitcoin Investment Trust (GBTC) securities and video card producer shares for mining, for instance, Nvidia.