Day: 17 January 2018

First CBOE Bitcoin Futures Reaches Settlement

Cboe Global Markets (Cboe) announced the settlement of January expiry Cboe bitcoin (XBT) futures.

The settlement price was $10,900.00, as determined by the 4:00 p.m. ET Gemini1 Exchange bitcoin auction.

Cboe XBT futures, launched on December 10, 2017, and a total of over 124,000 contracts have traded across expiries since, representing a notional value of over $1.5 billion. The contracts, which are cash-settled, were specifically designed to allow participants to implement straightforward trading strategies through settlement to a single, tradable auction price as calculated by Gemini.

Former Barclays FX Head in NYC Charged for Front Running

Robert Bogucki, the former head of Barclays’ New York FX operation was charged yesterday in an indictment for his alleged role in a scheme to front run client orders.

Bogucki has been charged in an indictment filed in the Northern District of California on January 16, with one count of conspiracy to commit wire fraud and six counts of wire fraud. He was due to make his initial appearance on January 17, at 2:00pm in Brooklyn, New York, before US Magistrate Judge Cheryl Pollak of the Eastern District of New York.

According to the indictment, in September and October 2011, Bogucki is alleged to have misused information provided to him by Hewlett Packard (HP), which had hired Barclays to execute an FX transaction related to the planned acquisition of a UK-based company. 

Blockchain Companies Propose Merger

Long Blockchain, a firm that is focused on developing and investing in globally scalable blockchain technology solutions, has entered into a letter-of-intent contemplating an all-stock transaction for Stater Blockchain (Stater).

Under the terms of the letter, Long Blockchain would form a wholly owned subsidiary, which would then merge with and into Stater.

As part of the proposed deal, Long Blockchain would also get Stater’s wholly owned subsidiary, Stater Global Markets, a Financial Conduct Authority (FCA) regulated brokerage that facilitates market access across multiple instruments including spot FX, digital currency futures and contracts for difference (CFDs).

Philip Thomas, CEO of Long Blockchain, comments, “We are excited to announce this potential milestone event for the company. Stater has been making investments to build its cryptocurrency platform and blockchain solutions, and we look forward to combining our efforts in this transformational partnership.