New Bitcoin-based security bounces in trading debut on CME

NEW YORK (AP) — A brand new security based mostly on the worth of the digital foreign money bitcoin is trading decrease after its debut on the Chicago Mercantile Exchange, per week after one other such security launched on a rival trade.
The CME Group, which owns the Chicago Mercantile Exchange, opened up futures of bitcoin, which has soared in worth and volatility this yr, for trading on Sunday night. By 2:20 a.m. EST (0720 GMT) Monday the futures contract that expires in January was at $19,405.00 after opening greater at $20,650.
The CME futures, like those that CME competitor the Cboe began trading final week, don’t contain precise bitcoin. The CME’s futures will monitor an index of bitcoin costs pulled from a number of personal exchanges.

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