Did the stock markets rush to launch these financial products? CEO Terry Duffy said in a recent interview that the decision was taken to bring to the financial market a proven innovative technology.
Answering the questions of Bloomberg presenter Scarlet Fu, the executive assured that the efforts of other major players, such as Goldman Sachs, to try to undermine Bitcoin were not enough. "We spend a lot of time talking to our customers about our products and educating them. The self-certification process is one of the reasons we put digital currency into the market quickly, "said Duffy.
Questions about self-certification have surfaced in recent weeks given the drop in the price of crypto-coins.
According to him, the product "CME's Bitcoin futures contracts" did not need to undergo a six-month review. Duffy also pointed out that the stock exchange does not have the same operating model as the Securities and Exchange Commission declaring: "We are different. We work in collaboration with the regulatory agency because of the unique nature of this product. "
CBOE was the first to list Bitcoin futures contracts, but launched its financial product the following week, a fact that was considered a kind of validation of the legitimacy of the digital currency.
Duffy still defended the future contracts of Bitcoin:
"This product has existed for nine years, that is, it did not come up yesterday. in traditional markets has been low. And what does not have low volatility? Bitcoin . People want something more volatile. Everyone is talking about Bitcoin , "he said.
The executive also stated that is not in this business to raise market risks but rather to help its clients manage it.
Will you go or not?
The CEO of believes that the key is to be patient and analyze all points of the product before launching and this was done in the case of the bag that he commands. Growth (in the value of products and Bitcoin ) must come, however in a measured way and without rushing to make exponential profits.
Duffy continues to bet on Bitcoin futures and other technology related to it, but will institutional investors wait patiently for the return of the positive wave?