This brings many benefits to traders, including transparency, efficient price discovery, deep liquidity and centralized clearing. XBTSM futures provides a centralized marketplace for participants to trade based on their view of bitcoin prices, gain exposure to bitcoin prices or bitcoin quote api their existing bitcoin positions. XBT futures are cash-settled contracts based on the Gemini’s auction price for bitcoin, denominated in U. 2014 that allows customers to buy, sell, and store digital assets such as bitcoin, and is subject to fiduciary obligations, capital reserve requirements, and banking compliance standards of the New York State Department of Financial Services.
XBT futures provides a way for you to buy and sell bitcoin futures in a highly regulated marketplace nearly 24 hours a day, five days per week. This gives you the flexibility to invest and divest at the optimal time for your specific trading strategy. XBT futures provides investors with the opportunity to buy, sell and trade bitcoin futures or implement your trading strategies without having to pay for the actual currency. Learn how Gemini runs a bitcoin exchange. XBT futures is a cash-settled contract that settles to a single, tradeable auction price. In designing XBT futures, Cboe leveraged its significant product development expertise to design an instrument that allows participants to implement trading strategies in a manner to which they are accustomed.
The single price settlement process gives participants the option of using XBT futures to hedge their exposure in underlying bitcoin or gain exposure to traded bitcoin prices without holding bitcoin. Where Can I Trade XBT Futures? Bitcoin futures based on the Gemini auction prices are traded exclusively at Cboe Futures Exchange. The brokers below are confirmed to offer trading in XBT futures. Contact your brokerage firm to find out how to trade XBT futures at Cboe Futures Exchange. CFE security futures contracts may be held in either a futures account or a securities account.
It is not an endorsement of the firms listed, and no significance should be attached to a firm’s inclusion or omission. CFE has not investigated the background or disciplinary history of any of the firms listed or of any individual broker in connection with providing this list. The selection of an FCM, broker, or clearing firm involves matters of personal preference. This list may not be exhaustive since the list only includes those firms that have requested to be included on the list.
The information on this website is provided solely for general education and information purposes and therefore should not be considered complete, precise, or current. Many of the matters discussed are subject to detailed rules, regulations, and statutory provisions which should be referred to for additional detail and are subject to changes that may not be reflected in the website information. Cboe XBT Newsletter form has been submitted successfully. Ask the Experts form has been submitted successfully.
Futures trading is not suitable for all investors and involves the risk of loss. The risk of loss in futures can be substantial. You should, therefore, carefully consider whether such trading is suitable for you in light of your circumstances and financial resources. Gemini auction price for bitcoin in U. The contract multiplier for the XBT futures contract is 1 bitcoin. The trading hours for an expiring XBT futures contract end at 2:45 p. Market Orders for XBT futures contracts will not be accepted.
Any Market Orders for XBT futures contracts received by the Exchange will be automatically rejected or canceled back to the sender. Stop Limit Orders are permitted during regular and extended trading hours for the XBT futures contract. All times referenced are Chicago time. The individual legs and net prices of spreads in XBT futures may be in increments of 0.
Prices are stated in decimal format. The eligible size for an original Order that may be entered for a cross trade with one or more other original Orders pursuant to Rule 407 is one Contract. Orders that it intends to cross. The Order Exposure Period under Policy and Procedure IV before an Order may be entered to take the other side of another Order with respect to which there has been pre-execution discussions is five seconds after the first Order was entered into the CFE System. Any ECRP transaction must satisfy the requirements of CFE Rule 414.
For any ECRP transaction in which the related position is bitcoin, the related position portion of the transaction must be consummated through the facilities of Gemini. The minimum price increment for an ECRP transaction involving the XBT futures contract is 0. Block Trades are permitted in XBT futures. The minimum Block Trade quantity for the XBT futures contract is 50 contracts if there is only one leg involved in the trade. If the Block Trade is executed as a transaction with legs in multiple contract expirations, each leg must meet the minimum Block Trade quantity for the XBT futures contract. Any Block Trade must satisfy the requirements of CFE Rule 415.