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” ( | ). 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 , accessing our , and our as well as cross-connects to our matching engine. Visit Cboe’s website to learn more about and .

Onward and Upward!

Team Gemini