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PRODUCT
DEC 08, 2017
Cboe and Gemini to Launch First-Ever Bitcoin Futures Contract — Ticker: XBT
Gemini is excited to announce that Bitcoin (USD) Futures Contracts will begin trading on the Cboe Futures Exchange, LLC (CFE) starting at 6:00 p.m. EST on Sunday December 10th, 2017 under the ticker symbol “XBT” (contract specifications | fact sheet). Monday, December 11th, will be the first full day of trading, and there will be no trading fees for XBT futures in the month of December.
XBT futures are cash-settled contracts based on Gemini’s auction price for bitcoin, denominated in U.S. dollars. XBT futures are specifically designed to allow participants to implement straightforward trading strategies, through settlement to a single, tradeable auction price.
- XBT futures will cash-settle on the Wednesday prior to the third Friday of the month
- Final settlement value (XBTS) will reflect the Gemini 4:00 p.m. ET daily bitcoin auction price
- XBT futures will enable investors to take a directional view on the price of bitcoin (both long and short), gain exposure to bitcoin prices, or hedge their existing bitcoin positions
- XBT futures will bring benefits to traders, including transparency, efficient price discovery, deep liquidity and centralized clearing
- CFE is regulated by the Commodity Futures Trading Commission (CFTC)
- Gemini is a New York trust company regulated by the New York Department of Financial Services (NYSDFS)
- Gemini and CFE have cross-market surveillance and information-sharing agreements in place
Visit our website to learn more about Gemini auctions, accessing our APIs and consuming Gemini market data, and our institutional offering as well as cross-connects to our matching engine. Visit Cboe’s website to learn more about XBT futures and Quote Vendor Symbols.
Onward and Upward!
Team Gemini
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