Tokyo Financial Exchange Plans to Launch Bitcoin Futures Contracts in 2018

Source : Tokyo Financial Exchange Plans to Launch Bitcoin Futures Contracts in 2018
Source
One of Japan’s leading financial exchanges is preparing launching bitcoin derivatives. It will happen as soon as possible once frameworks are in place.
The Tokyo Financial Exchange, one of Japan’s leading financial exchanges that counts the likes of Chase among its trading participants, is planning to create a working party for studying cryptocurrencies in January. This step is typically the first toward drafting legislation in Japan. After that the institution will list bitcoin futures trading contracts. 
Shozo Ohta, the Tokyo Financial Exchange’s CEO, said: “Once the Financial Instruments and Exchange Act recognizes cryptocurrencies as financial products, we will list the futures as quickly as possible”. He added: “To achieve that, we will launch this working group to study various aspects, including bitcoin’s present status, its outlook, and what form it will take root in Japan’s society.”
The listing, which would become Japan’s first bitcoin-based financial product, requires changes to the country’s securities laws.
As for the bitcoin, from April this year it is recognized as a legal means of exchange and a method of payment in Japan which became one of the fastest-moving countries to roll out laws for cryptocurrencies. Japan is among the world’s largest bitcoin trading markets boosted by friendly regulation.  Recently the financial regulator of the country issued 11 licenses for bitcoin exchanges to operate. Japanese exchanges by some estimates account for roughly half of global bitcoin trading volume, boosted by an unusual business model that doesn’t charge trading fees.
Using and even actively promoting consumer appetites for cryptocurrency has meanwhile seen Japan come to the forefront of trading and business activity this year. As of press time Tuesday, Japan held an over 50% global Bitcoin trading share. The country now sports a plethora of licensed Bitcoin exchanges.
The Tokyo Financial Exchange’s foray into planning its bitcoin product offering comes on the heels of Chicago-based  confirming the launch of its bitcoin futures contracts on Sunday, December 10. So, bitcoin futures product will begin trading, that will be free through the end of December.
Ed Tilly, ’s chairman and CEO, said in a statement: “Given the unprecedented interest in bitcoin, it’s vital we provide clients the trading tools to help them express their views and hedge their exposure. We are committed to encouraging fairness and liquidity in the bitcoin market. To promote this, we will initially offer XBT futures trading for free.”
Bitcoin has gained millions of percent since it started trading in 2010. An investment of $1 at the beginning would now be valued at more than $1.4 million. The bitcoin value is growing, and today it has reached its another maximum — $11,931.
The post Tokyo Financial Exchange Plans to Launch Bitcoin Futures Contracts in 2018 appeared first on CoinSpeaker.

Follow :
Do NOT follow this link or you will be banned from the site!