New Cryptocurrency Derivatives Platform approved by CFTC, Bitnomial allows Regulated Bitcoin Futures
The Bitcoin derivatives trading platform is approved by the US Commodity Futures Trading Commission (CFTC). A record of margined and physically delivered bitcoin futures and options, maintained by Bitnomial Exchange. Moreover, the CFTC in order to offer bitcoin derivatives trading has approved other platforms such as CME, Cboe, and Bakkt.
New Bitcoin Derivatives Exchange, Approved by CFTC
Monday effected, CFTC to declare, that it has granted an order granting Chicago-based Bitnomial Exchange importance as a designated contract market (DCM), beneficial for a day. The U.S. top derivatives regulator clarified that after evaluating Bitnomial’s application and associated exhibits:
“The CFTC determined that Bitnomial Exchange demonstrated its ability to comply with the requirements of the CEA (Commodity Exchange Act) and the CFTC’s regulations applicable to DCMs”
According to the CFTC, established contract markets “are exchanges that may list for trading futures or options contracts based on all types of commodities and that may allow access to their facilities by all types of traders, including retail customers.”
Monday’s approval affected Bitnomial Exchange to acknowledge all requirements issued by the Commodity Exchange Act, the CFTC’s provisions, and representations it accepted in the form of its application for designation as a contract market.
Report of Margined and Physically Delivered Bitcoin Futures and Options, Maintained by Binomial
Binomial, a bitcoin derivatives exchange established its origin in 2014. In order to govern an exchange for deliverable cryptocurrency derivatives in 2016 company filed an application with CFTC. 2018 resulted to put forward Series funding from investors, like Jump Capital, Coinbase Ventures, Digital Currency Group, and RRE Ventures.
According to the Binomial, the CFTC has approved its exchange “for U.S. bitcoin futures and options trading with margin and physical delivery.” Three bitcoin derivative products are named on Bitnomial’s website: Bitcoin U.S. Dollar Futures, Deci Bitcoin U.S. Dollar Futures, and Bitcoin U.S. Dollar Options. The company added:
“Binomial will list margined and physically delivered bitcoin futures and options, the first and only startup exchange to achieve these capabilities.”
In order to allow Bitcoin derivatives products the CFTC, date barely approved few trading platforms likewise CME, CBOE, Bakkt, Erisx, and Ledgerx Cboe interrupted allowing bitcoin chances a late year.
