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Alternative Market Briefing

Interactive Brokers Group reverses stance on bitcoin to offer futures trading on CME platform

Wednesday, December 13, 2017

Komfie Manalo, Opalesque Asia:

Fresh from a successful offering of bitcoin futures trade for the Cboe Futures Exchange (CFE) since Sunday night of December 10, global electronic brokerage firm Interactive Brokers Group, Inc., said it would also launch a bitcoin futures from the Chicago Mercantile Exchange (CME) at the scheduled start of trading December 18th using the symbol BRR. Interactive Brokers' bitcoin futures trade from the CFE is under the ticker symbol GXBT.

Interactive Brokers Founder, Chairman and CEO Thomas Peterffy, commented, "Interactive Brokers was on the buy side of the low print of 14,710. A Registered Investment Advisor on the Interactive Brokers platform purchased two March contracts in the first minute of trading."

The company said that at least 201 of its accounts had placed 1,240 trades in bitcoin futures totaling 1,429 contracts representing approximately 50% of exchange recorded volume on Monday. The recorded value of all futures trades at Cboe exceeds $50m.

Peterffy previously warned that bitcoin futures could impair 'real economy'

In an ironic twist, Peterffy previously ran a full page ad in The Wall Street Journal warning regulators about the possible dangers posed by bitcoin futures to the traditional capital market. Peterffy said in the open letter addressed to Commodity Futures Trading Commission (CFTC) Chairman J. Christopher Giancarlo,......................

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