Peterffy (IB) takes out ad in WSJ to warn against BTC futures
- Thread starter JackRab
- Start date
You can check their website for more details about their auto deleveraging algo . They even readjusted the closing price for some . It can be done it's not rocket science even if the price jumps 100% .
CME can have it's own daily settlement/adjustment procedure .
Socialized loss systems... hmm
What if I have a futures position hedged with underlying, making money on the futures and losing on the spot... and then the "socialize loss sytem" will liquidate my position in the futures because I'm making money on that and some nitwit is losing his shirt... that leaves me exposed since the other side of the hedge is still open...
What's the point of the hedge just don't make a bet in the first place .
Anyway this thing is a bubble and a scam the cftc shouldn't approve btc futures . Anyone who wants to buy a real btc that's fine but a futures market for it that's a bit much .
Hope the cme goes under and bankrupt from this .
TradeStation Announces Plans to Support CME Group, Inc. and Cboe Global Markets, Inc. Bitcoin Futures Trading Immediately Upon Launch
Once available, CME and CFE Bitcoin contracts can be traded by current and newly funded TradeStation futures account holders. The moves by CME Group and Cboe Global Markets come amid burgeoning global interest in Bitcoin and other cryptocurrency markets. The company’s technology subsidiary, TradeStation Technologies, Inc., develops and offers strategy trading software tools and subscription services, and hosts the TradingApp® Store. The TradeStation platform offers electronic order execution and enables clients to design, test, optimize, monitor and automate their own custom equities, options and futures trading strategies.
Once available, CME and CFE Bitcoin contracts can be traded by current and newly funded TradeStation futures account holders. The moves by CME Group and Cboe Global Markets come amid burgeoning global interest in Bitcoin and other cryptocurrency markets. The company’s technology subsidiary, TradeStation Technologies, Inc., develops and offers strategy trading software tools and subscription services, and hosts the TradingApp® Store. The TradeStation platform offers electronic order execution and enables clients to design, test, optimize, monitor and automate their own custom equities, options and futures trading strategies.
Do CME have the power to settle/delist a contract whenever they want?
I mean if there is a 1000% move at the weekend.
They could just settle the contract early based on the Friday closing price.
Problem solved.
Yes this would cheat the Longs of profits but better than blowing everything up.
(And if the whole financial system is going to crash anyway the Longs were never going to be able to withdraw those profits).
I mean if there is a 1000% move at the weekend.
They could just settle the contract early based on the Friday closing price.
Problem solved.
Yes this would cheat the Longs of profits but better than blowing everything up.
(And if the whole financial system is going to crash anyway the Longs were never going to be able to withdraw those profits).
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The point is that futures trading will only be efficient if there's an active hedging possibility.... initially futures are a hedging tool.... not a betting tool....
And if you hope the CME goes under and bankrupt you probably shouldn't even be here on this site because no active trader would ever want that to happen....
The CME (CBOT) opened it's doors in 1848. 1848! Based on one simple rule that every member is required to live by: my word is my bond. They would NEVER reneg on a contract...EVER!
Its called force majeure . Its not a big deal they could specify their settlement/readjustment/auto-deleveraging procedure before hand in the contract specifications from day one , that way they wont be breaking their own fuc@@g "word" .
They are a casino anyway so i wont put much in their so called "word/bond" .
They are a casino anyway so i wont put much in their so called "word/bond" .
Why would i leave ? Many exchanges are out there . I said i want that because they are so greedy to get into this bubble shi@ .First they said we want to support it then btc dropped to 3000 that was a few months ago then they said we wont be supporting it , then BTC went ATH again then CME said we will support it . They are greedy as s$$$t they deserve to go under from BTC .