The Chicago Board Options Exchange, or Cboe, is the first U.S. options exchange to offer standardized, listed options. It is also known as the first exchange in the traditional financial space to offer bitcoin futures, using the symbol XBT. This process was overseen by Terrence A. Duffy.
Cboe entered into an agreement in the summer of 2017 with Cameron and Tyler Winklevoss (aka the Winklevoss twins) to use bitcoin market data generated by their virtual-currency exchange Gemini, paving the way for Cboe to list derivatives on bitcoin. Cboe launched the first bitcoin futures on December 10, 2017, trading a reported 4,127 contracts in their first day of trading, with nearly 20 trading firms participating. Cboe waived transaction fees on XBT throughout that month.
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