The race between two of the US’s largest futures markets to launch bitcoin futures last month has sparked a backlash from clearing banks, which are calling for changes to the self-certification process for listing new derivatives contracts.
“We weren’t terribly excited about the self-certification process. It did feel like an arms race between the Chicago Board Options Exchange and Chicago Mercantile Exchange to get the product out. That was a little concerning to us,” says the head of
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