NYSE Owner on Bitcoin Futures: “We May Be Stupid for Not Being First”

Hydrogen

legendary

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Quote from: richfund_Pe on December 08, 2017, 05:03:14 PM

Do you think it is a mistake for the NYSE not to launch bitcoin futures contracts?

I think its a huge mistake on their part. That had a chance to be 1st which could give them a key position in the market. Now they're too late and they've lost out on what was a big opportunity.

It could be inevitable that crypto futures and a crypto ETF will happen someday. Being first and getting a jump on the competition could make a huge difference.

Of course if bitcoin futures turns out to be a massive catastrophic event, like some are predicting, I'm going to be 100% wrong on all of this so we will have to see.

lucifochrome

full member

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To be honest i think this was a good move by NYSE, From what i have my understood in bitcoin futures is that you will be paying say an X amount of money in advance. Like if you have predicted that bitcoin in a month or two will be at 30K USD, you will paid in advance but for a lower amount maybe 25K USD and now you are on a contract. If in a month or two it did not reach the 30K mark then good for you but if it exceeds it i guess that is bad since you were only paid 25K, with this being said and judging on how volatile the market is they will be at a loss.

richfund_Pe

newbie

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The chief executive of the owner of the New York Stock Exchange (NYSE), Intercontinental Exchange Inc (ICE), has discussed the company’s decision not to launch bitcoin futures markets. Jeff Sprecher of ICE described the opacity of the bitcoin markets as a driving factor behind the company’s decision.

Speaking at a financial services conference hosted by Goldman Sachs earlier this week, ICE’s chief executive, Jeff Sprecher, stated “I don’t know what to make of cryptocurrencies,” adding “We didn’t think it was obvious to rush out a product and be first and settle against an index on a lot of exchanges that are not particularly transparent.”

Mr. Sprecher conceded that “We may be stupid for not being first” to launch bitcoin futures, but reaffirmed the company’s wary position regarding cryptocurrencies. “To short that would mean that they have decided to exit and through a legitimate, high-standing, regulated venue, they are exiting, and I look at that and just say, is that going to work out well for me as a venue?”

Do you think it is a mistake for the NYSE not to launch bitcoin futures contracts?

Topic: NYSE Owner on Bitcoin Futures: “We May Be Stupid for Not Being First” (Read 187 times)