CBOE Future Exchange decides to lower its Bitcoin futures prices

The Cboe wants to change the way it prices bitcoin futures contracts.

In its published letter to the Commodity Futures Trading Commission (CFTC) dated April 17, CBOE Future Exchange (CFE) managing director Matthew McFarland announced a proposed rule amendment that would lower the minimum increment on its futures contracts from 10 points (worth $10) to 5 points (worth $5) sometime on or after May 1.

According to the letter, the change would apply to single leg transactions, meaning those involving only one contract, and not spread trades, which require an investor to buy and sell two different contracts simultaneously. Spread trades currently have a minimum increment of 0,01 points ($0,01).

The decision to make this change was supported by data the company collected since its futures contracts launched in December.

«CFE intends to continue to evaluate its experience with the trading in XBT futures and may determine to make future changes relating to XBT futures in light of that experience», – wrote McFarland in his letter.

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