CBOT BTC delivery
Publish: 2021-04-27 03:54:37
1.
On December 7, the price of bitcoin continued to soar on Wednesday, breaking through $14000 on an exchange at a shocking rate, less than 24 hours from breaking through $12000
As a matter of fact, the price of bitcoin has accelerated since it reached a record high on Tuesday night. According to instry data, today's market value of bitcoin is less than $230 billion. According to this data, the market value of bitcoin can be ranked among the top 20 companies in the standard & Poor's 500 indexlast week, the price of bitcoin fell by about 20%, but on Tuesday, it rose to more than $12000. The latest record is less than 24 hours away from $12000
at the beginning of this year, the price of bitcoin was less than $1000, but as investors became more and more interested in the cryptocurrency, its price also soared. It is said that CBOE global market in Chicago plans to launch bitcoin futures on Sunday. Meanwhile, the Chicago Mercantile Exchange (CME), the world's largest futures exchange, will launch bitcoin related futures procts in the next few weeks. The increase of bitcoin futures trading in these two exchanges marks an important step on the road to legal assets for digital cryptocurrency
2. 1. CME
CME & reg CME is the largest futures exchange in the United States and the second largest exchange in the world for trading futures and futures option contracts. The Chicago Mercantile Exchange provides investors with a number of financial and agricultural transactions. Since its establishment in 1898, the Chicago Mercantile Exchange has continued to provide a market with risk management tools to protect investors from the risks brought about by changes in the prices of financial procts and tangible commodities, and to give them the opportunity to profit from trading
in December 2002, the holding company of Chicago Mercantile Exchange (CME) was officially listed on the New York Stock Exchange (NYSE), which transformed CME from a non-profit organization with membership system into a profit-making company
engaging in futures trading on the Chicago Mercantile Exchange
the mass media often express the trading activities of the Chicago Mercantile Exchange as a colorful, visual and dynamic scene: traders shout orders and wave their arms wildly in the field. Although this kind of "open outcry" trading is still going on, in recent years, the Chicago Mercantile Exchange is innovating to enhance electronic trading. At present, electronic trading volume has accounted for half of the total trading volume of the exchange
because electronic trading enables indivials to directly connect with various markets of the Chicago Mercantile Exchange at home or on the company's computer at any time, its Globex & reg; The trading volume of electronic trading platform continues to occupy a high proportion in the total trading volume. This trading mode helps to attract more market participants, eventually increase the trading volume of the exchange, enhance the market liquidity, and make the market conct a large number of transactions quickly and effectively
the Chicago Mercantile Exchange owns and operates its own clearing house, through which all transactions are cleared and orderly concted. This can rece the risk of the trader's failure to fulfill the futures or futures option trading responsibilities
the Chicago Mercantile Exchange has the largest number of open positions in futures and futures options in the world. Open position contract refers to the number of contracts that have not been cleared at the end of a trading day. It is the most important indicator of liquidity. Liquidity is a key component to ensure market success and attract investors and customers
pension funds, investment advisers, portfolio managers, corporate financiers, commercial and investment banks, brokers / dealers and indivials from all over the world trade on the Chicago Mercantile Exchange, and these transactions form part of their financial management strategy<
CME procts
CME offers investors a variety of procts, including futures and futures option contracts:
stock or stock index procts, including e-mini & reg; S&P 500®、 NASDAQ-100®、 E-mini Russell 2000® And Nikkei & reg; 225
interest rate procts - procts based on short-term interest rates, including Eurodollar and LIBOR
FX - procts include Australian dollar, euro, British pound, Japanese yen and Swiss franc
Agricultural Procts - including cattle, dairy procts, wood, pork and weather contracts< CBOT: CBOT is the largest and most representative agricultural procts exchange in the world. In the early 19th century, Chicago was the largest grain distribution center in the United States. With the continuous concentration of grain trading and the development of forward trading methods, the Chicago futures exchange was founded in 1848 by 82 grain traders. After the establishment of the exchange, the trading rules were constantly improved, and the forward contract was replaced by standard futures contract in 1865, And the system of deposit was carried out. In addition to corn, soybean, wheat and other agricultural procts, the Chicago Futures Exchange also provides futures markets for medium and long-term U.S. government bonds, stock index, municipal bond index, gold and silver, and options trading of agricultural procts, finance and metals. The futures prices of corn, soybean, wheat and other varieties on the Chicago Futures Exchange have not only become an important reference price for agricultural proction in the United States, but also become an authoritative price in international agricultural trade.
CME & reg CME is the largest futures exchange in the United States and the second largest exchange in the world for trading futures and futures option contracts. The Chicago Mercantile Exchange provides investors with a number of financial and agricultural transactions. Since its establishment in 1898, the Chicago Mercantile Exchange has continued to provide a market with risk management tools to protect investors from the risks brought about by changes in the prices of financial procts and tangible commodities, and to give them the opportunity to profit from trading
in December 2002, the holding company of Chicago Mercantile Exchange (CME) was officially listed on the New York Stock Exchange (NYSE), which transformed CME from a non-profit organization with membership system into a profit-making company
engaging in futures trading on the Chicago Mercantile Exchange
the mass media often express the trading activities of the Chicago Mercantile Exchange as a colorful, visual and dynamic scene: traders shout orders and wave their arms wildly in the field. Although this kind of "open outcry" trading is still going on, in recent years, the Chicago Mercantile Exchange is innovating to enhance electronic trading. At present, electronic trading volume has accounted for half of the total trading volume of the exchange
because electronic trading enables indivials to directly connect with various markets of the Chicago Mercantile Exchange at home or on the company's computer at any time, its Globex & reg; The trading volume of electronic trading platform continues to occupy a high proportion in the total trading volume. This trading mode helps to attract more market participants, eventually increase the trading volume of the exchange, enhance the market liquidity, and make the market conct a large number of transactions quickly and effectively
the Chicago Mercantile Exchange owns and operates its own clearing house, through which all transactions are cleared and orderly concted. This can rece the risk of the trader's failure to fulfill the futures or futures option trading responsibilities
the Chicago Mercantile Exchange has the largest number of open positions in futures and futures options in the world. Open position contract refers to the number of contracts that have not been cleared at the end of a trading day. It is the most important indicator of liquidity. Liquidity is a key component to ensure market success and attract investors and customers
pension funds, investment advisers, portfolio managers, corporate financiers, commercial and investment banks, brokers / dealers and indivials from all over the world trade on the Chicago Mercantile Exchange, and these transactions form part of their financial management strategy<
CME procts
CME offers investors a variety of procts, including futures and futures option contracts:
stock or stock index procts, including e-mini & reg; S&P 500®、 NASDAQ-100®、 E-mini Russell 2000® And Nikkei & reg; 225
interest rate procts - procts based on short-term interest rates, including Eurodollar and LIBOR
FX - procts include Australian dollar, euro, British pound, Japanese yen and Swiss franc
Agricultural Procts - including cattle, dairy procts, wood, pork and weather contracts< CBOT: CBOT is the largest and most representative agricultural procts exchange in the world. In the early 19th century, Chicago was the largest grain distribution center in the United States. With the continuous concentration of grain trading and the development of forward trading methods, the Chicago futures exchange was founded in 1848 by 82 grain traders. After the establishment of the exchange, the trading rules were constantly improved, and the forward contract was replaced by standard futures contract in 1865, And the system of deposit was carried out. In addition to corn, soybean, wheat and other agricultural procts, the Chicago Futures Exchange also provides futures markets for medium and long-term U.S. government bonds, stock index, municipal bond index, gold and silver, and options trading of agricultural procts, finance and metals. The futures prices of corn, soybean, wheat and other varieties on the Chicago Futures Exchange have not only become an important reference price for agricultural proction in the United States, but also become an authoritative price in international agricultural trade.
3. Trading time: Monday to Friday 9:30 a.m. - 1:15 p.m. Chicago time
the Chicago futures exchange is the most representative agricultural procts exchange in the world. In 1848, the Chicago futures exchange was founded by 83 grain traders. In 1865, the standard futures contract replaced the forward contract, and the margin system was implemented. On October 17, 2006, the Chicago Mercantile Exchange (CME) and the Chicago Board of trade (CBOT) announced that they had reached a final agreement on the merger. The two exchanges merged to form the world's largest derivatives exchange, the Chicago Board of trade group
CBOT is the most representative agricultural procts exchange in the world. The Chicago Board of trade - CBOT is a leading futures and options exchange. Through the exchange's open outcry and electronic trading system, more than 3600 CBOT members trade 50 different futures and options procts. In 2003, trading volume reached a record 454 million contracts.
the Chicago futures exchange is the most representative agricultural procts exchange in the world. In 1848, the Chicago futures exchange was founded by 83 grain traders. In 1865, the standard futures contract replaced the forward contract, and the margin system was implemented. On October 17, 2006, the Chicago Mercantile Exchange (CME) and the Chicago Board of trade (CBOT) announced that they had reached a final agreement on the merger. The two exchanges merged to form the world's largest derivatives exchange, the Chicago Board of trade group
CBOT is the most representative agricultural procts exchange in the world. The Chicago Board of trade - CBOT is a leading futures and options exchange. Through the exchange's open outcry and electronic trading system, more than 3600 CBOT members trade 50 different futures and options procts. In 2003, trading volume reached a record 454 million contracts.
4. There are the following three situations in the exercise of options
1. Both the buyer and the seller can exercise their options by hedging
2. The buyer can also convert the option into a futures contract (obtain a corresponding futures position at the strike price level specified in the option contract)
3. Any option will automatically lapse if it is not used when it matures. If the option is null and void, the buyer will not exercise the option until it expires. In this way, the buyer of the option will lose the premium at most
option premium
as mentioned earlier, option premium is the price at which an option contract is purchased or sold. For the option buyer, he must pay a premium to the option seller in exchange for certain rights given by the option; For the option seller, he has to fulfill the obligation of the option contract by selling the option, so he receives a premium as reward. As the royalty is borne by the buyer, it is the maximum amount of loss that the buyer needs to bear when the most unfavorable change occurs, so the royalty is also called & quot; Insurance money
principle of option trading
if you buy a call option with a fixed price, you can enjoy the right to buy related futures after paying a small amount of premium. Once the price really rises, they will exercise the call option to obtain the long futures at a low price, and then sell the relevant futures contracts at a high price according to the rising price level to obtain the profit margin, which will make up for the premium paid. If the price does not rise but falls, the call option can be abandoned or transferred at a low price, and the maximum loss is the royalty. The reason why the buyer of the call option buys the call option is that through the analysis of the price change of the relevant futures market, he believes that the price of the relevant futures market is likely to rise by a large margin. Therefore, he buys the call option and pays a certain amount of royalty. Once the market price rises substantially, he will make a greater profit by buying futures at a lower price, which is greater than the amount of premium paid by his call option. He can also sell the option contract at a higher premium price in the market to hedge his profit. On the one hand, if the market price only rises slightly, the buyer can perform or hedge to obtain a little profit and make up for the loss of the premium; On the other hand, if the market price falls, the buyer fails to perform, and the biggest loss is the amount of royalty paid
the relationship between option trading and futures trading
there are differences and connections between option trading and futures trading. The connection is as follows: firstly, both of them are transactions characterized by standardized forward contracts; Secondly, in terms of price relationship, the futures market price has an impact on the strike price and royalty determination of option trading contract. Generally speaking, the fixed price of option trading is based on the delivery price of the same kind of goods in forward trading determined by the futures contract, and the difference between the two prices is an important basis for determining the royalty; Third, futures trading is the basis of option trading, and the content of trading is generally the right to buy and sell a certain number of futures contracts. The more developed the futures trading is, the more basic the option trading is. Therefore, the mature futures market and complete rules create conditions for the emergence and development of option trading. The emergence and development of option trading provide more alternative tools for hedgers and speculators to carry out futures trading, thus expanding and enriching the trading content of futures market; Fourth, futures trading can be long and short, and traders do not necessarily carry out physical settlement. Option trading can also do long and short, the buyer does not have to exercise this right, as long as it is favorable, it can also transfer this right. The seller does not have to perform, but can buy the same option before the buyer exercises his right; Fifthly, because the subject matter of an option is a futures contract, the buyer and the seller will get the corresponding futures positions when the option is executed.
1. Both the buyer and the seller can exercise their options by hedging
2. The buyer can also convert the option into a futures contract (obtain a corresponding futures position at the strike price level specified in the option contract)
3. Any option will automatically lapse if it is not used when it matures. If the option is null and void, the buyer will not exercise the option until it expires. In this way, the buyer of the option will lose the premium at most
option premium
as mentioned earlier, option premium is the price at which an option contract is purchased or sold. For the option buyer, he must pay a premium to the option seller in exchange for certain rights given by the option; For the option seller, he has to fulfill the obligation of the option contract by selling the option, so he receives a premium as reward. As the royalty is borne by the buyer, it is the maximum amount of loss that the buyer needs to bear when the most unfavorable change occurs, so the royalty is also called & quot; Insurance money
principle of option trading
if you buy a call option with a fixed price, you can enjoy the right to buy related futures after paying a small amount of premium. Once the price really rises, they will exercise the call option to obtain the long futures at a low price, and then sell the relevant futures contracts at a high price according to the rising price level to obtain the profit margin, which will make up for the premium paid. If the price does not rise but falls, the call option can be abandoned or transferred at a low price, and the maximum loss is the royalty. The reason why the buyer of the call option buys the call option is that through the analysis of the price change of the relevant futures market, he believes that the price of the relevant futures market is likely to rise by a large margin. Therefore, he buys the call option and pays a certain amount of royalty. Once the market price rises substantially, he will make a greater profit by buying futures at a lower price, which is greater than the amount of premium paid by his call option. He can also sell the option contract at a higher premium price in the market to hedge his profit. On the one hand, if the market price only rises slightly, the buyer can perform or hedge to obtain a little profit and make up for the loss of the premium; On the other hand, if the market price falls, the buyer fails to perform, and the biggest loss is the amount of royalty paid
the relationship between option trading and futures trading
there are differences and connections between option trading and futures trading. The connection is as follows: firstly, both of them are transactions characterized by standardized forward contracts; Secondly, in terms of price relationship, the futures market price has an impact on the strike price and royalty determination of option trading contract. Generally speaking, the fixed price of option trading is based on the delivery price of the same kind of goods in forward trading determined by the futures contract, and the difference between the two prices is an important basis for determining the royalty; Third, futures trading is the basis of option trading, and the content of trading is generally the right to buy and sell a certain number of futures contracts. The more developed the futures trading is, the more basic the option trading is. Therefore, the mature futures market and complete rules create conditions for the emergence and development of option trading. The emergence and development of option trading provide more alternative tools for hedgers and speculators to carry out futures trading, thus expanding and enriching the trading content of futures market; Fourth, futures trading can be long and short, and traders do not necessarily carry out physical settlement. Option trading can also do long and short, the buyer does not have to exercise this right, as long as it is favorable, it can also transfer this right. The seller does not have to perform, but can buy the same option before the buyer exercises his right; Fifthly, because the subject matter of an option is a futures contract, the buyer and the seller will get the corresponding futures positions when the option is executed.
5.
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>
6. Domestic go first, want to see 21 outside plate will be 21 night until 22 am
7.
Average daily volume (ADV) reached a record 19.2 million contracts, up 18% year on year
All in all, CME's average daily total options volume (ADV) fell 14% year-on-year to 3436806 transactions a day, compared with 4005997 last year Futures trading corresponding to spot trading has become a modern trading mode. A systematic understanding of the characteristics of futures trading is an effective way and key to a deep understanding of futures marketthe spot corresponding to a futures contract can be a commodity, such as copper or crude oil, a financial instrument, such as foreign exchange or bonds, or a financial indicator, such as three-month interbank offered rate or stock index. Futures trading is the inevitable outcome of the development of market economy to a certain stage
extended materials:
precautions:
1. Make good use of financial budget and avoid using necessary funds as capital -- gamblers' psychological characteristics: people who are worried about gain and loss, unrestrained and excessively nervous should avoid using living funds as trading capital. Excessive capital pressure will mislead investment strategy and increase trading risk, leading to greater mistakes
Make good use of free simulated accounts and learn futures trading -- patience of investors: when the yield is positive, beginners should be patient and learn step by step, instead of rushing to open real trading accounts, they can try simulated accounts first. There are applications for free mock accounts, which new investors can experience If there is no fixed way of trading, the profit is likely to be very random, that is, it depends on luck. This profit cannot last long8. In the early 19th century, Chicago was the largest grain distribution center in the United States. With the continuous concentration of grain trading and the development of forward trading methods, in 1848, the Chicago futures exchange was founded by 82 grain traders
9. If you buy a contract in June, it will be settled around December
10. In 1883, the clearing association was established to provide hedging tools for members of the Chicago Board of trade. However, the clearing association was not well organized at that time. Until 1925, after the establishment of the clearing company of the Chicago futures exchange, all transactions of the Chicago futures exchange had to be settled by the clearing company. From then on, the modern settlement organization appeared
combine the fifth and sixth editions! According to China's examination system, teaching materials are king, other publishing houses are floating clouds! So 1925 is the standard answer!
combine the fifth and sixth editions! According to China's examination system, teaching materials are king, other publishing houses are floating clouds! So 1925 is the standard answer!
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