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Are there systemic risks in clearing bitcoin?

Thomas Peterffy, founder, chairman, and CEO of Interactive Brokers Group, has sent a letter to CME and OCC Clearing Members expressing concerns about the exchanges’s decision to begin offering Bitcoin futures in December.Dated November 27, 2017, the letter notes:This letter is to request that you urge the CFTC, CME, CBOE Futures Exchange (CFE) and OCC not toallow clearing of bitcoin products through registered derivatives clearing organizations (DCOs) that alsoclear non-bitcoin futures until the CFTC has examined the risks to the clearing organizations, theirmembers and the financial markets as a whole; and after considering public comment and the views ofother interested agencies such as the SEC and the Federal Reserve Board.(Full letter:

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Thomas Peterffy, founder,...

Izabella Kaminska
Izabella Kaminska joined FT Alphaville in October 2008, which was, perhaps, the best time in the world to become a financial blogger. Before that she worked as a producer at CNBC, a natural gas reporter at Platts and an associate editor of BP’s internal magazine. She has also worked as a reporter on English language business papers in Poland and Azerbaijan and was a Reuters graduate trainee in 2004.

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