17 SEPTEMBER 2019

Cboe Global Markets, Inc. (Cboe: CBOE | Nasdaq: CBOE), one of the world's largest exchange holding companies, today announced the settlement of January expiry Cboe bitcoin (XBT) future.

CBOE conducts first settlement of bitcoin futures

January 18, 2018

Cboe Global Markets, Inc. (Cboe: CBOE | Nasdaq: CBOE), one of the world's largest exchange holding companies, today announced the settlement of January expiry Cboe bitcoin (XBT) future.

The settlement price was $10,900.00, as determined by the 4:00 p.m. ET Gemini1 Exchange bitcoin auction.

Cboe XBT futures, the first regulated futures of their kind, launched on December 10, 2017, and a total of over 124,000 contracts have traded across expiries since, representing a notional value of over $1.5 billion. The contracts, which are cash-settled, were specifically designed to allow participants to implement straightforward trading strategies through settlement to a single, tradable auction price as calculated by Gemini.

Ed Tilly, Chairman and Chief Executive Officer of Cboe Global Markets, said: "Our regulated market experienced a smooth operational close and the settlement process worked as designed. This is an encouraging initial milestone, and we look forward to working with customers to power the growth of this nascent market."

Source: Cboe