Digital Assets Report

Newsletter

Like this article?

Sign up to our free newsletter

Interactive Brokers launches bitcoin futures trading

Related Topics

Interactive Brokers Group is now offering clients the ability to trade bitcoin futures on the Cboe Futures Exchange (CFE).

In addition to the CFE futures which are available under the ticker symbol GXBT, the company plans to offer bitcoin futures from the Chicago Mercantile Exchange (CME) at the scheduled start of trading 18 December using the symbol BRR.
 
“Interactive Brokers was on the buy side of the low print of 14,710,” says Thomas Peterffy, founder, Chairman and CEO of Interactive Brokers. “A Registered Investment Advisor on the Interactive Brokers platform purchased two March contracts in the first minute of trading.”
 
As of 9:15am ET on Monday, the company said that 201 of its accounts had placed 1,240 trades in bitcoin futures totaling 1,429 contracts representing approximately 50 per cent of exchange recorded volume. The recorded value of all futures trades at Cboe exceeds USD50 million.
 
The all-in commission rate, including exchange and regulatory fees, for bitcoin futures will be US USD5.01 per contract for the Cboe product and US USD15.01 per contract for the CME product. The CFE contract size is for one bitcoin, and the CME contract size is for five bitcoins. Old and new clients can learn more about trading bitcoin futures with IBKR and sign up for “Crypto” trading permission here.
 
Due to the extreme volatility of cryptocurrencies, clients will be unable to assume a short position. In addition, only limit orders will be accepted. IBKR’s margin requirement on long positions will be at least 50 per cent. The company will continue to monitor concerns surrounding the market’s ability to process bitcoin futures risk.
 
Clients can subscribe to live quotes for both Cboe and CME bitcoin futures.
 

Like this article? Sign up to our free newsletter

Most Popular

Further Reading

Featured