CME futures BTC line
Now the popular digital currency futures is bitcoin futures. On December 11, 2017, Beijing time, CBOE launched the bitcoin futures XBT, and the market reaction was hot, triggering the circuit breaker mechanism many times. CME of Chicago Mercantile Exchange launched bitcoin futures BTC on December 18, 2017, which brought about great fluctuation
the two major bitcoin futures procts have the following similarities and differences, which are worth noting:
1. XBT unit is 1 bitcoin, BTC is 5 bitcoins
The minimum price change: XBT is $10 / bitcoin, BTC is $5 / bitcoin XBT trading time is from 7:00 on Monday to 6:00 on Saturday, Beijing time; BCT trading time is from 7:00 on Monday to 4:15 on Saturday, Beijing time4. The position limit was 5000
Price circuit breaker mechanism: XBT price fluctuates more than 10% of the previous day's closing price, trading is suspended for 2 minutes, more than 20%, trading is suspended for 5 minutes; The BTC price fluctuates more than 7% or 13% of the closing price of the previous day, triggering the circuit breaker mechanism. The specific suspension time has not been disclosed. If it exceeds 20%, the trading will stop XBT requires 44% initial margin, which is about 2 times leverage; BTC Requires 35% of the initial margin, which is about 3 times the leverage. It is worth noting that both exchanges have indicated that the margin amount can be adjusted according to the actual situationBitcoin is no stranger to a person who loves to invest. In 2008, bitcoin still appeared in our view at a very low price. But 18 years later, the price of bitcoin began to soar, and soon broke through the 10000 yuan mark. Now, bitcoin has exceeded 100000 yuan each, and bitcoin is not a real capital or material property, but a virtual currency. In the Internet, the value of such a virtual currency has been speculation above 100000 yuan. What is behind such madness
Some people also take advantage of this loophole to buy virtual currency abroad in the way of RMB, and finally cash out through trading, which is also a violation of China's foreign exchange system. Such a practice will undoubtedly lead to fire and even prison. Of course, the price of bitcoin is so high nowadays that most of the people who can afford to buy bitcoin are economic tycoons, and there will be no retail investors taking over< br />The delivery date of CME bitcoin futures is the last Friday of the e month, 4:00 p.m. London time. In case of holidays, one day in advance
2. The delivery date of CBOE bitcoin futures is the first two trading days of the third Friday of the maturity month, 2:45 p.m. Chicago time
extended information:
bitcoin trading scam:
1. At the end of October 2013, Hong Kong GBL platform absconded with money, with more than 20 million yuan missing. The program of this trading website is very poor. It doesn't use SSL security protocol, and even the user name is stored in clear text. They don't have some basic programming knowledge. GBL relies on the broker to develop the new customer's "quasi MLM" mode
On October 22, 2013, looking at the market of bitcoin, Mr. Qiao, a citizen of Dongyang, searched GBL company, a bitcoin trading platform, on the Internet, and recharged 90000 yuan to buy and sell bitcoin through a third-party payment. On October 26, 2013, it was found that the staff of the online trading platform were not online, and some normal trading proceres could not be implemented. It was found that the registered address of the company was false after a check, and a total of 90000 yuan was cheated3 and Western economists have a lot of worries about the current economic bubble phenomenon of bitcoin. Australian Economist John Quiggin called bitcoin "the purest example of the economic bubble." p>
initial margin basic deposit; Down payment deposit; First margin
day margin; Immediate deposit
(2) Comex gold futures contract
trading unit: 100 ounces
quotation unit: US dollars / ounces
trading time (New York time)
daily floor trading time: 8:20 am to 1:30 pm in New York
trading through Globex, the electronic trading platform of Chicago Mercantile Exchange (CME), starts from 6:00 pm every Sunday in New York time Until 5:15 p.m. next Friday, there is a 45 minute rest time between 5:15 p.m. and 6:00 p.m.
the trading month is month, the next two calendar months, and all February, April, August, and October within 23 months, All June and December within 60 months
minimum price change
10 cents / ounce (10 US dollars / hand).
last trading day the third trading day before the last working day of the spot month
delivery period the first working day to the last working day of the delivery month
the purity of quality requirements shall not be less than 99.5%
position limit the net holding of contracts in all months No more than 6000 positions, i.e. no more than 3000 monthly contracts
margin is required to be paid only for open positions, which is US $2500 / hand for members and hedging customers, and US $3375 / hand for non members
transaction code GC
On December 11, 2017, Beijing time, CBOE of Chicago Board Options Exchange launched the XBT of bitcoin futures. The market reaction was hot and the circuit breaker mechanism was triggered many times. CME of Chicago Mercantile Exchange launched BTC of bitcoin futures on December 18, 2017, which brought about great fluctuation