Eu watchdog eyes crackdown on bitcoin trading as crytocurrency worries growbitcoin news
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This section was produced by the editorial department. The client was not given the opportunity to put restrictions on the content or review it prior to publication. December 8, With just a few days left until Cboe Global Markets Inc. In interviews, some executives and traders said their desks are eager to get in on the action — but most sounded cautionary notes, ticking off concerns and unanswered questions.
These are a few of their top concerns:. Now, what will it look like if firms help clients into investments that blow up? How might internal commentary over the futures sound if it ever spills into legal cases? Enthusiasts say bitcoin is a currency. So does Goldman Sachs Group Inc. So it may seem natural for trading desks in those markets to handle the new contracts.
Bitcoin is like a volatile stock, and futures, at least in some ways, are like the options that track it. Help a customer buy or sell an asset, and then take some time to find another client who wants to take an opposite position. So banks will try to clear the new contracts, matching one investor with another. That can be tough. A few traders, for example, said many clients are only interested in shorting. That can make for a pretty hard day at the office: Without longs, the trades may be costly and hard to set up.
That could sting firms that clear the contracts. A person close to Goldman Sachs said on Thursday it will initially clear bitcoin contracts for certain clients on a case-by-case basis.
Bank of America Corp. And at some other firms, executives said they may enter when ready. But will a small presence from big players give an advantage to nimbler, risk-friendly firms that embrace the new market out of the gate?
Bitcoin's violent price swings this week have made the new market look all the more dangerous. These are a few of their top concerns: The sale serves the dual purpose of shedding one of its dirtiest assets, while reducing debt. Canada's telecom industry is now competitive enough that there's no need for regulatory attempts to force down consumer prices, study says. Premier John Horgan's pension. Find Financial Post on Facebook.