Russian company started trading bitcoin futures

Inspired by the success of the US stock exchanges the FINAM brokerage company started trading bitcoin futures for Russian traders. The company cooperates with the largest US stock exchange CBOE, which first...

Inspired by the success of the US stock exchanges the FINAM brokerage company started trading bitcoin futures for Russian traders.

The company cooperates with the largest US stock exchange CBOE, which first launched trading bitcoin futures. A new investment tool with the XBTC code will be available only for qualified traders. Term of contract performance is one month. At the same time the minimum contract volume is 1 bitcoin. The company will take from $ 1.5 per transaction in addition to the commission of the $ 15 CBOE exchange. In a day it will be possible to make up to 50 transactions.

In the near future FINAM will provide customers with the opportunity to trade bitcoin futures on another major site, the CME Group. Conditions differ in the minimum volume of the contract (they start from 5 bitcoins) and larger exchange fees which are $ 20-30 per transaction. The tool code is BTC.

Future contracts allow you to conclude a deal to buy an asset at a certain price and at a certain time. CBOE and CME launched such financial instruments to buy bitcoin lately in 2017.

FINAM believes that the provision of a new controlled and less risky service will attract professional investors. FINAM will not be engaged in the analysis of cryptomarket, but will simply enable an investment  in a licensed and legal product to its customers.

Cryptocurrencies do not have an official status in Russia yet, but draft regulations have already been proposed by the Ministry of Finance, the Central Bank and the Russian Association of Cryptocurrency and Blockchsin (RACIB).