CHICAGO, June 6, 2023
/PRNewswire/ -- Cboe Clear Digital announced it has received
the necessary approval from the Commodity Futures Trading
Commission (CFTC) to expand its product offering to include
margined futures contracts. The initial product launch will include
physically and financially settled Bitcoin and Ether
contracts in the second half of 2023. Cboe Digital is the first
U.S. regulated crypto native exchange and
clearinghouse combination platform to offer leveraged derivatives
products. Cboe Digital's vision to bring trust and transparency to
crypto spot and derivatives markets is an
intermediary-inclusive model.
Cboe Digital to date has offered trading and clearing of
Bitcoin and Ether futures on a fully collateralized
basis, which require customers to outlay the full amount of a
futures contract upfront. The new margin model will require only a
percentage of the total posted as collateral, enabling customers to
trade futures in a less capital-intensive way. Trades will be
executed and cleared through an approved set of member Futures
Commission Merchants (FCMs) with Cboe Digital's clearinghouse
acting as the central counterparty.
"We are grateful to the CFTC for working with us as we continue
to build out our vision for a transparent, U.S. regulated
crypto marketplace that welcomes intermediaries," said
John Palmer, President of Cboe
Digital. "Derivatives are a time-tested and valuable tool that
enable investors to gain market exposure and manage their
risk."
Cboe Digital has the unique ability to trade spot and margin
futures on the same platform, which fills a key gap in the US
landscape, and brings greater cost and operational efficiencies to
enhance customers' trading experience. In addition to margin
futures, Cboe Digital's spot market supports trading in
Bitcoin, Bitcoin Cash, Ether,
Litecoin and USDC. Cboe Digital's unified spot and
derivatives markets are underpinned by responsible innovation.
About Cboe Global Markets, Inc.
Cboe Global Markets (Cboe: CBOE), a leading provider of market
infrastructure and tradable products, delivers cutting-edge
trading, clearing and investment solutions to market participants
around the world. The company is committed to operating a trusted,
inclusive global marketplace, providing leading products,
technology and data solutions that enable participants to define a
sustainable financial future. Cboe provides trading solutions and
products in multiple asset classes, including equities,
derivatives, FX, and digital assets, across North America, Europe and Asia
Pacific. To learn more, visit www.cboe.com.
About Cboe Digital
Cboe Digital offers individuals and institutions a single,
innovative platform to access crypto spot and futures
markets. By combining professional tools, advanced technology,
sophisticated regulatory oversight, and a diverse product set, Cboe
Digital offers compliant, capital markets friendly workflows to
digital market participants. Backed by some of the world's largest
trading firms and financial institutions, Cboe Digital brings
transparency and reliability to the digital asset class.
Cboe Digital Futures are offered through Cboe Digital Exchange,
LLC, a CFTC registered DCM and Cboe Clear Digital, LLC, a CFTC
registered DCO. The CFTC does not have regulatory oversight
authority over virtual currency products including spot market
trading of virtual currencies. Cboe Digital's Spot Market is not
licensed, approved or registered with the CFTC and transactions on
the Cboe Digital Spot Market are not subject to CFTC rules,
regulations or regulatory oversight. Cboe Digital Spot Market is
subject to certain state licensing requirements and operates in NY
pursuant to Cboe Clear Digital's license to engage in virtual
currency business activity by the New
York State Department of Financial Services. Cboe Digital
and the Cboe Digital logo are trademarks of the Cboe Global Markets
Group of companies. To learn more, visit
www.cboedigital.com.
Cboe Media Contacts
|
Cboe Analyst Contact
|
Angela Tu
|
Jessica Darmoni
|
Kenneth Hill, CFA
|
+1-646-856-8734
|
+1-312-756-8716
|
+1-312-786-7559
|
atu@cboe.com
|
jdarmoni@cboe.com
|
khill@cboe.com
|
CBOE-C
CBOE-OE
Cboe® and Cboe Global Markets® are registered trademarks and
Cboe Digital TM and Cboe Clear Digital TM are
service marks of Cboe Global Markets, Inc. and its
subsidiaries. All other trademarks and service marks are the
property of their respective owners.
View original content to download
multimedia:https://www.prnewswire.com/news-releases/cboe-digital-receives-approval-to-launch-margin-futures-on-bitcoin-and-ether-301843287.html
SOURCE Cboe Global Markets, Inc.