The Russian Brokerage company “Finam”, in partnership with Chicago Board Options Exchange (CBOE), announced bitcoin futures to start trading, according to Finam’s website.

Bitcoin futures will be available only to qualified investors, holding a bitcoin unit or more on their accounts. The number of individual investors’ transactions is also limited to 50 one per day. The validity period of one contract is one month, its minimum value – 1 bitcoin. Brokerage fee will be $1.5 per transaction, with further $20 to $30 deduced as CBOE’s commission fee. The instrument code is XBTC.

“The demand for the service stems from the absence of safe ways of working with cryptocurrencies. This service will reduce uncontrolled risks of loss or non-return of the invested funds,” company representative has noted.

В “Finam” has specified that the futures are non-deliverable, which means that investors will get a value, not the cryptocurrency itself

“We are neither speculating on the prospects of cryptocurrency market here, nor trying to predict when it all will collapse. We are just having a product here that is in our clients’ interest. Before its emergence, if one wanted to invest into cryptocurrency, one had to address some dubious organizations, oftentimes devoid of any details. But now the investor may use the services of a brokerage company, that possesses all the necessary licenses and is supervised by monitoring bodies, to his full advantage,” – Yaroslav DuSuchet, the Head “Finam”’s Retail Customers Department commented.

In addition to partnership with CBOE, “Finam” plans to launch bitcoin futures trade on the platform  of the second largest exchange, CME soon

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