Tuesday, December 12, 2017
TradeStation, a Monex Group company and award-winning* online broker-dealer and futures commission merchant, reported that eligible futures clients began trading the new Bitcoin futures contract offered by the Cboe Futures Exchange (CFE) at the launch of trading, 5:00 p.m. CT on Sunday, December 10.
During the first trading session, 65 TradeStation accounts placed a total of 1,083 orders for Bitcoin futures, with 326 orders filled, accounting for approximately 12 percent of the CFE’s total volume in Bitcoin futures in that session.
“TradeStation clients were able to trade the first Bitcoin futures contract offered by a major U.S. exchange from the very onset of trading on Sunday,” said John Bartleman, President of TradeStation Group, Inc., the parent company of TradeStation. “TradeStation’s operations and risk managers closely monitored the trading activity and reported no issues with trading during the first trading session. We look forward to supporting trading in the new Bitcoin futures contract that is expected to be offered by the Chicago Mercantile Exchange (CME) upon the launch of trading on December 18.”
The CFE Bitcoin future contract (XBT) is a cash-settled futures contract based on the Gemini auction price for Bitcoin in U.S. dollars. TradeStation has established strict risk management requirements, accepting limit and stop limit orders only, with initial margin set at 66 percent of the CFE daily settlement price and maintenance margin at 60 percent of the CFE daily settlement price.
To speak with an account executive to learn more about TradeStation or to open an account, call 1-800-808-9336, or visit TradeStation.com.
TradeStation Group, Inc., through its principal operating subsidiary, TradeStation Securities, Inc. (TradeStation), offers the TradeStation analysis and trading platform to the active trader and certain institutional trader markets. The TradeStation platform offers electronic order execution and enables clients to design, test, optimize, monitor and automate their own custom equities, options and futures trading strategies. TradeStation Group is a wholly owned subsidiary of Monex Group, Inc., one of the largest online financial services providers in Japan.
TradeStation Securities, Inc. (Member NYSE, FINRA, SIPC, NSCC, DTC, OCC & CME) is a licensed securities broker-dealer and a registered futures commission merchant (FCM), and a member of major stock, options and futures exchanges in the United States. Margins are subject to change and/or revision at any time without prior notice. The company’s technology subsidiary, TradeStation Technologies, Inc., develops and offers strategy trading software tools and subscription services, and hosts the TradingApp® Store.
* Visit TradeStation.com/Awards for more information.