Chicago Board options exchange (CBOE) intends to change the method of calculating prices of futures contracts on bitcoin. This is stated in a recently published letter sent by the company to the Commission on trade commodity futures (CFTC).
It managing Director CBOE Matthew Mac-Farlend reports that the proposed exchange, the change will reduce the minimum step size for futures contracts with 10 points ($10) to 5 points ($5). The new rule proposes to approve the may 1 or after that date.
The decision will have “a positive impact on the market XBT futures,” writes Mac Farlend.
The change will affect only those traders who play one way. Sredovye transaction in which an investor buys and sells two different contract at the same time, will not change – currently, the minimum step is 0.01 points ($0.01), and reads the letter.
Mak-Farlend argues that his proposal is supported by the data, which were collected the stock exchange since the launch of futures in December.
“The company intends to continue to evaluate the XBT trading experience-futures and can make the decision on the implementation of the new changes that are associated with XBT-futures, in the light of that experience,” he writes. “The company believes that the change will have a positive impact on the public and market participants”.
At the end of March CBOE asked the Commission on securities and stock exchanges of the USA to proceed to the approval of other exchange-traded products tied to the bitcoins.
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