Nasdaq is considering the possibilities to launch its own Bitcoin futures different from already existing products of CBOE and CME, Nasdaq CEO Adena Friedman said in the interview with CNBC.
“We continue to look at the risk management around that, making sure we are putting the right protocols in place, making sure there’s proper demand, and that the contract is different from what’s already out there”, Friedman emphasized.
The main difference from its competitors will be how the asset price will be formed. According to Nasdaq, its product may track a spot rate rather than a current or future price, as CBOE and CME do.
“We will have to see whether it makes sense at the end of the day, proper client demand, and on a risk-management side ‘do we feel confident?,’ in which case we would look to go to the CFTC”, Friedman stated.
Earlier, Wall Street announced Nasdaq plans to launch bitcoin futures and even gave its timeline, early 2018. However, Adena Friedman, neither confirmed nor denied that information, stating that all the plans for bitcoin are are still in the initial, “exploratory phase”.