Bitcoin Launches on CBOE, Next Week on CME : A new chapter has begun for cryptocurrencies as Bitcoin launches on the US futures markets. The Chicago Board of Options Exchange (CBOE) started trading on Sunday, December 10th using the ticker symbol ($XBT).
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It will base the value of one (1) Bitcoin which will be determined by the settlement or last trade at 4:00 PM (ET)by the Gemini cryptocurrency exchange. Trading hours start at 6:00 PM Sunday night. Regular trading hours will be from 9:30 AM Monday through 4:30 PM Friday. Margin Requirement is based on a 30% rate.
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Although, how they determine this will be interesting based on recent value fluctuations. But this is not all. Next week, the Chicago Mercantile Exchange (CME) will start trading on its contract on December 17th using the symbol ($BTC). It will base the contract size on five (5) times the value of one (1) Bitcoin using a combined market value derived from four cryptocurrency exchanges, Bitstamp, GDAX, itBit, and Kraken. Initially, it will have a 35% margin requirement with the two front-month calendar contracts and then quarterly months (Dec. March, June, and September.)
Under this set-up starting next Sunday night, the contracts listed for trading will be January, February, March, June, September, and December contracts. Trading hours will start Sunday night on the GLOBEX open at 6:00 PM and trade through Monday until 5:00 PM (ET) and will reopen at 6:00 PM (ET) giving a one hour break.
USD/JPY pair confirmed above the daily Ichimoku cloud
Financial markets look set for fireworks as the Federal Reserve, the European Central Bank and the Bank of England deliver monetary policy announcements in the week ahead. The USD/JPY pair confirmed above the daily Ichimoku cloud during today’s Asian session on speculations that Federal Reserve will project a more aggressive 2018 interest rate hike outlook than what is already priced into financial markets later during the week. The pair’s resistance level is set at 114.29.
On the economic calendar…
On the economic calendar today, we have Japan’s Machine Tool Orders (YoY) (NOV P) at 6 AM GMT. Later during the New York session, we have some low-risk data out of the US including the JOLTS Job Openings (OCT) at 3 PM GMT.