The Nasdaq technology index would be preparing to launch its future bitcoin contracts for the first quarter of 2019. The New York Stock Exchange maintains its plans despite the collapse of the encryption market, according to a report released on Tuesday, November 27 , by Bloomberg.
The information suggests that Nasdaq has been working to doubts or concerns that they would have the United States Commodity Futures Trading Commission (CFTC), an independent government agency whose mission is to regulate futures and options markets.
Two people, who would be familiar with stock exchange plans, said there is still interest in opening that market for next year. The collapse in cryptographic prices would not affect the creation of the market somewhere between January and March 2019.
At this point, it is important to mention that exactly one year ago, press reports indicated that both NASDAQ and Cantor Fitzgerald would launch bitcoin futures in 2018. In November last year, it was announced that the market would open in the middle of this year. However, nothing happened.
Two months later, in January 2018, Adena Friedman, Nasdaq CEO, said he was rethinking his plans for bitcoin futures. At that time, the executive indicated that they continued to "investigate the idea of the future of cryptomidea with a partner, and we continue analyzing risk management in this regard, making sure that we are implementing the correct protocols, that there is adequate demand and that the contract is different from those that already exist. "
Trading of Bitcoin futures
While the Nasdaq interest in bitcoin futures seems to be taking shape, it's not the only one that's watching them. In fact, the CME Group and Cboe Global Markets have already sold them to investors since December last year. After the two companies listed their futures, the CFTC announced an improved review process for exchanges that would seek to list derivatives of crypto derivatives.
In January 2019, the Bakkt futures will also be listed, an alliance between Microsoft, Starbucks and the New York Stock Exchange (NYSE), which means that the world's largest stock market will also have a closer relationship with bitcoin futures. This approach to the Nasdaq and NYSE, with future contracts based on bitcoins, is presented despite the fact that both have kept their distance from crypto-coins in the past.
In CriptoNoticias, we define the future contracts of bitcoin as follows: "they are contracts stipulated between two parties that agree to the exchange of an asset, in this case bitcoin (called underlying asset), fixing its price at the time of the contract. at a predetermined future date. In this type of contract, two positions are played: a long position and a short position ".
At the time of writing, the price of bitcoin is $ 3,712, according to the CoinMarketCap portal.
Featured picture of bfishadow / Creative Commons 2.0