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CME is ceding territory to its rival CBOE who are located a little more than half a mile away in downtown Chicago. CBOE plans to introduce bitcoin futures in the 4th quarter of 2017 or early next year.
Futures could draw in professional market makers -- though probably not JPMorgan Chase & Co. traders after Chief Executive Officer Jamie Dimon said he’d fire any employee trading bitcoin for being “stupid” -- to the cryptocurrency realm, providing much-needed liquidity. Such traders need derivatives so they can hedge their positions.
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