What everyone is missing is when the world's largest futures exchange decides to track something -- it usually means they intend to create trading products around it.
This index is just the first step. I bet you over the coming year we'll hear announcements about how they will be listing futures and options - gutting the volume at any of the clowncar exchanges that purport to have "real" futures. (They aren't, they socialize their losses, which is ridiculous.)
This is the largest exchange in the world positioning their incisor teeth over the jugular of smaller exchanges.
I can't wait.
Topic: [2016-11-15]CME Group Seeks to Track the Bitcoin Price (Read 425 times)
Quote
CME has been one of the year’s leading innovators in the field of cryptocurrency.
Is tracking the Bitcoin price a sign of innovation???
Come on find something better CME.
I can't believe this.
It's indeed not of much relevance since basically people with some sort of coding skills can create a simple ticker that pulls its information from various exchanges if they so wish. However, it's the news sites that pick up these kind of articles. It shows how desperate they are to keep their website filled with articles that they can place their ads in, etc. It's annoying how at every page you are forced to click X to close the ad pop up.
Quote
CME has been one of the year’s leading innovators in the field of cryptocurrency.
Is tracking the Bitcoin price a sign of innovation???
Come on find something better CME.
I can't believe this.
If Bloomberg can have an index and give its users the latest price, there is no reason for others not to do so.
Crypto trading is done by many financial professionals and tracking its price is natural.
Crypto trading is done by many financial professionals and tracking its price is natural.
CME Group Seeks to Track the Bitcoin Price
The world’s largest futures exchange CME Group has launched two indexes for tracking bitcoin’s price, setting the digital currency on a course of well-deserved (and mainstream) publicity.
Chief investment officer at Global Advisors Daniel Masters explained:
“There is tremendous, pent-up demand in the U.S. for bitcoin exposure that doesn’t require an investor to select one of the current bitcoin exchanges in order to invest.”
CME has been one of the year’s leading innovators in the field of cryptocurrency. When banks and finance institutions are studying the blockchain and creating their own currencies and related items in the sparks of a growing digital age, CME Group is no exception. The company made headlines last May when it joined hands with London-based bitcoin services firm Crypto Facilities Limited to develop “new cryptocurrency-based products.”
http://www.newsbtc.com/2016/11/15/36952/
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