CBOE Bitcoin USD Futures

From the contract specifications:

http://cfe.cboe.com/cfe-products/xbt-cboe-bitcoin-futures/contract-specifications

"Description: Cboe Bitcoin (USD) futures are cash-settled futures contracts that are based on the Gemini auction price for bitcoin in U.S. dollars."

"Final Settlement Value:
The Final Settlement Value of an expiring XBT futures contract shall be the official auction price for bitcoin in U.S. dollars determined at 4:00 p.m. Eastern Time on the Final Settlement Date by the Gemini Exchange (the "Gemini Exchange Auction"). If the Gemini Exchange Auction price is not within Gemini's parameters for a Gemini Exchange Auction price, the Final Settlement Value is otherwise not available, or the normal settlement procedure cannot be utilized due to a trading disruption or other unusual circumstance, the process detailed in the Contingencies section below will be utilized."

https://gemini.com/
https://www.cryptocompare.com/coins/btc/markets/USD

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maxinger said:
well. 3 contracts are open for trading :

XBT F18-CF
XBT G18-CF
XBT H18-CF
More...

I thought trading was set to commence at 5pm Chicago / 6pm ET ?

"Cboe Global Markets, Inc. (Cboe: CBOE | Nasdaq: CBOE), one of the world's largest exchange holding companies, today announced that Cboe Futures Exchange (CFE), plans to offer trading in bitcoin futures beginning at 5:00 p.m. CT on Sunday, December 10, 2017, at the start of Global Trading Hours. "

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m22au said:
I thought trading was set to commence at 5pm Chicago / 6pm ET ?

"Cboe Global Markets, Inc. (Cboe: CBOE | Nasdaq: CBOE), one of the world's largest exchange holding companies, today announced that Cboe Futures Exchange (CFE), plans to offer trading in bitcoin futures beginning at 5:00 p.m. CT on Sunday, December 10, 2017, at the start of Global Trading Hours. "

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More...

you are right.
 
m22au said:
From the contract specifications:

http://cfe.cboe.com/cfe-products/xbt-cboe-bitcoin-futures/contract-specifications

"Description: Cboe Bitcoin (USD) futures are cash-settled futures contracts that are based on the Gemini auction price for bitcoin in U.S. dollars."

"Final Settlement Value:
The Final Settlement Value of an expiring XBT futures contract shall be the official auction price for bitcoin in U.S. dollars determined at 4:00 p.m. Eastern Time on the Final Settlement Date by the Gemini Exchange (the "Gemini Exchange Auction"). If the Gemini Exchange Auction price is not within Gemini's parameters for a Gemini Exchange Auction price, the Final Settlement Value is otherwise not available, or the normal settlement procedure cannot be utilized due to a trading disruption or other unusual circumstance, the process detailed in the Contingencies section below will be utilized."

https://gemini.com/
https://www.cryptocompare.com/coins/btc/markets/USD

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More...
I wonder how they came to pick Gemini as the settlement price quote? I mean Winklevoss twins? really?

And its like the 7th most active exchange to boot.
 
Initial observation:

Gemini price: $15,380 (approx)
CFE futures Jan 2018: $15,750 x $15,800

So the Gemini price is at least $370 higher than the underlying Gemini price, which in turn is about $550 higher than the price at Bitstamp.

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