CHICAGO, Jan. 12,
2024 /PRNewswire/ -- Cboe Digital announced it
successfully launched margined Bitcoin and Ether
futures and completed its first margined Bitcoin
futures trade. With support from Blockfills, DV Trading LLC, Jump
Trading Group, Marex, Toa Capital Partners and Wedbush in executing
these trades, Cboe Digital becomes the first U.S. regulated
crypto native exchange and clearinghouse to offer both
spot and leveraged derivatives trading on a single platform.
"As an exchange and clearinghouse, this is a significant
milestone for Cboe Digital and its vision to unify the
crypto spot and futures market," said John Palmer, President of Cboe Digital. "The
future of crypto is at an exciting juncture and as
more investors look to participate in this asset class, we expect
to see greater demand for derivatives to help manage their
crypto exposures, hedge risk and enhance capital and
operational efficiencies. We are grateful for the hard work from
our intermediaries, partners and team members that got us here and
look forward to continuing working with them to help drive the
market's growth."
"We believe transparent and U.S. regulated markets drive
customer demand for these products and Marex was keen to support
its customers from the outset," said Thomas
Texier, Head of Clearing at Marex. "Cboe Digital's margin
futures launch will help bring competitive technology and
innovative solutions to the crypto spot and leveraged
derivatives markets."
"As a market maker with industry leading risk controls, we are
pleased to be working with a high-quality exchange such as Cboe
Digital whose focus is to enable broader institutional
participation and adoption of cryptocurrencies," said
Jake Moore of Toa Capital Group.
"Cboe Digital's offer in providing secure access to regulated
futures markets is key to maturing this nascent asset class."
"Cboe Digital has been influential in helping facilitate the
creation of a transparent well-regulated crypto spot
and derivatives market," said Bob
Fitzsimmons at Wedbush Securities. "We look forward to
continued collaboration in this market and congratulate Cboe
Digital on this exciting next step."
Following its launch of financially settled margined contracts
on Bitcoin and Ether, Cboe Digital plans to
expand its product suite to include physically delivered products,
pending regulatory approval. Significantly, Cboe Digital's unified
spot and derivatives trading platform is designed to allow
customers to easily access both markets. Operating this integral
exchange and clearinghouse model also enables Cboe Digital to
potentially bring more unique and groundbreaking offerings to the
crypto markets.
For more information about the new margined Bitcoin
and Ether futures, visit Cboe Digital's website here.
About Cboe Global Markets, Inc.
Cboe Global Markets (Cboe: CBOE), the world's leading
derivatives and securities exchange network, delivers cutting-edge
trading, clearing and investment solutions to people around the
world. Cboe provides trading solutions and products in multiple
asset classes, including equities, derivatives, FX, and digital
assets, across North America,
Europe and Asia Pacific. Above all, we are committed to
building a trusted, inclusive global marketplace that enables
people to pursue a sustainable financial future. To learn more
about the Exchange for the World Stage, visit www.cboe.com.
About Cboe Digital
Cboe Digital offers individuals and institutions a single,
innovative platform to access crypto spot and futures
markets. By combining professional tools, advanced technology,
sophisticated regulatory oversight, and a diverse product set, Cboe
Digital offers compliant, capital markets friendly workflows to
digital market participants. Backed by some of the world's largest
trading firms and financial institutions, Cboe Digital brings
transparency and reliability to the digital asset class.
Cboe Digital Futures are offered through Cboe Digital Exchange,
LLC, a CFTC registered DCM and Cboe Clear Digital, LLC, a CFTC
registered DCO. The CFTC does not have regulatory oversight
authority over certain virtual currency products including spot
market trading of virtual currencies. Cboe Digital's Spot Market is
not licensed, approved or registered with the CFTC and transactions
on the Cboe Digital Spot Market are not subject to CFTC rules,
regulations or regulatory oversight. The Cboe Digital Spot Market
may be subject to certain state licensing requirements and operates
in NY pursuant to Cboe Clear Digital license ("BitLicense") to
engage in virtual currency business activity by the New York State Department of Financial
Services. Cboe Digital and the Cboe Digital logo are trademarks of
the Cboe Global Markets Group of companies. To learn more, visit
www.cboedigital.com.
Cboe Media Contacts
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Cboe Analyst Contact
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Angela Tu
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Jessica Darmoni
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Kenneth Hill, CFA
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+1-646-856-8734
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+1-312-756-8716
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+1-312-786-7559
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atu@cboe.com
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jdarmoni@cboe.com
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khill@cboe.com
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CBOE-C
CBOE-OE
Cboe®, Cboe Global Markets®, and Cboe
Clear® are registered trademarks and Cboe DigitalTM is a
service mark of Cboe Global Markets, Inc. and its
subsidiaries. All other trademarks and service marks are the
property of their respective owners.
Cboe Global Markets, Inc. and its affiliates do not recommend
or make any representation as to possible benefits from any
securities, futures, virtual currencies or investments, or
third-party products or services. Cboe Global Markets, Inc. is not
affiliated with BlockFills, DV Trading LLC, Marex, Toa Capital
Partners, and Wedbush.1 Investors should undertake
their own due diligence regarding their securities, futures,
virtual currencies and investment practices. This press release
speaks only as of this date. Cboe disclaims any duty to update the
information herein.
Nothing in this announcement should be considered a
solicitation to buy or an offer to sell any futures or virtual
currencies in any jurisdiction where the offer or solicitation
would be unlawful under the laws of such jurisdiction.
Nothing contained in this communication constitutes tax, legal or
investment advice. Investors must consult their tax adviser or
legal counsel for advice and information concerning their
particular situation.
Cboe Global Markets, Inc. and its affiliates, to the maximum
extent permitted by applicable law, make no warranty, expressed or
implied, including, without limitation, any warranties as of
merchantability, fitness for a particular purpose, accuracy,
completeness or timeliness, the results to be obtained
by recipients of the products and services described
herein.
The Cboe Digital business is supported by a group of minority
investors who represent a broad and diverse range of market
participants including leading retail and institutional
intermediaries, liquidity providers and brokers. They consist of
B2C2, DRW, Galaxy Digital, GSR, Hidden Road, IMC, Interactive
Brokers, Jane Street, Jump Trading
Group, Robinhood, Susquehanna International Group, tastyworks and
Virtu Financial.
Cautionary Statements Regarding Forward-Looking
Information
This press release contains forward-looking statements within
the meaning of the Private Securities Litigation Reform Act of 1995
that involve a number of risks and uncertainties. You can identify
these statements by forward-looking words such as "may," "might,"
"should," "expect," "plan," "anticipate," "believe," "estimate,"
"predict," "potential" or "continue," and the negative of these
terms and other comparable terminology. All statements that reflect
our expectations, assumptions or projections about the future other
than statements of historical fact are forward-looking statements.
These forward-looking statements, which are subject to known and
unknown risks, uncertainties and assumptions about us, may include
projections of our future financial performance based on our growth
strategies and anticipated trends in our business. These statements
are only predictions based on our current expectations and
projections about future events. There are important factors that
could cause our actual results, level of activity, performance or
achievements to differ materially from those expressed or implied
by the forward-looking statements.
We operate in a very competitive and rapidly changing
environment. New risks and uncertainties emerge from time to time,
and it is not possible to predict all risks and uncertainties, nor
can we assess the impact of all factors on our business or the
extent to which any factor, or combination of factors, may cause
actual results to differ materially from those contained in any
forward-looking statements.
Some factors that could cause actual results to differ
include: the loss of our right to exclusively list and trade
certain index options and futures products; economic, political and
market conditions; compliance with legal and regulatory
obligations; price competition and consolidation in our industry;
decreases in trading or clearing volumes, market data fees or a
shift in the mix of products traded on our exchanges; legislative
or regulatory changes or changes in tax regimes; our ability to
protect our systems and communication networks from security
vulnerabilities and breaches; our ability to attract and retain
skilled management and other personnel, including compensation
inflation; increasing competition by foreign and domestic entities;
our dependence on and exposure to risk from third parties; global
expansion of operations; factors that impact the quality and
integrity of our indices; our ability to manage our growth and
strategic acquisitions or alliances effectively; our ability
to operate our business without violating the intellectual property
rights of others and the costs associated with protecting our
intellectual property rights; our ability to minimize the risks,
including our credit, counterparty, investment, and default risks,
associated with operating a European clearinghouse; our ability to
accommodate trading and clearing volume and transaction traffic,
including significant increases, without failure or degradation of
performance of our systems; misconduct by those who use our markets
or our products or for whom we clear transactions; challenges to
our use of open source software code; our ability to meet our
compliance obligations, including managing potential conflicts
between our regulatory responsibilities and our for-profit status;
our ability to maintain BIDS Trading as an independently managed
and operated trading venue, separate from and not integrated with
our registered national securities exchanges; damage to our
reputation; the ability of our compliance and risk management
methods to effectively monitor and manage our risks; restrictions
imposed by our debt obligations and our ability to make payments on
or refinance our debt obligations; our ability to maintain an
investment grade credit rating; impairment of our goodwill,
long-lived assets, investments or intangible assets; the impacts of
pandemics; the accuracy of our estimates and expectations;
litigation risks and other liabilities; and operating a digital
asset business and clearinghouse, including the expected benefits
of our Cboe Digital acquisition, cybercrime, changes in digital
asset regulation, losses due to digital asset custody, and
fluctuations in digital asset prices. More detailed information
about factors that may affect our actual results to differ may be
found in our filings with the SEC, including in our Annual Report
on Form 10-K for the year ended December 31,
2022 and other filings made from time to time with the
SEC.
We do not undertake, and we expressly disclaim, any duty to
update any forward-looking statement whether as a result of new
information, future events or otherwise, except as required by law.
Readers are cautioned not to place undue reliance on these
forward-looking statements, which speak only as of the date
hereof.
1 Jump Trading Group is a minority investor in Cboe
Digital.
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SOURCE Cboe Global Markets, Inc.