2017-12-16

Tech Review | Bitcoin Futures Start Trading On CME Globex Monday

graphic "Tech Review" ©2017 DomainMondo.com
Tech Review (TR 2017-12-16)--Domain Mondo's weekly review of tech news with commentary, analysis and opinion: Features • 1)  Bitcoin Futures Start Trading On CME Globex Monday, 2) Antitrust & Tech, 3) Investing: The Week, Investing Notes: China, EU, US Stocks vs Gold, The Swamp, 4) ICYMI Tech News.

1) Bitcoin Futures Start Trading On CME Globex Monday Dec 18

Bitcoin futures surged more than 20% on their Cboe debut this week, forcing a major US derivatives exchange to halt trading twice as Wall Street seeks to ride a wave of interest in the controversial digital currency. A second bitcoin futures market launches Monday (Dec 18) on CME Globex. Financial Times (ft.com) video above published Dec 11, 2017.

CME Group Self-Certifies Bitcoin Futures to Launch Dec. 18 | cmegroup.com: "The new contract will be listed on and subject to the rules of CME. It will be available for trading on the CME Globex electronic trading platform, and for submission for clearing via CME ClearPort, effective on Sunday, December 17, 2017 for a trade date of December 18. CME Group's Bitcoin futures will be cash-settled, based on the CME CF Bitcoin Reference Rate (BRR) which serves as a once-a-day reference rate of the U.S. dollar price of bitcoin. Since November 2016, CME Group and Crypto Facilities Ltd. have calculated and published the BRR, which aggregates the trade flow of major bitcoin spot exchanges during a calculation window into the U.S. Dollar price of one bitcoin as of 4:00 p.m. London time. The BRR is designed around the IOSCO Principles for Financial Benchmarks. Bitstamp, GDAX, itBit and Kraken are the constituent exchanges that currently contribute the pricing data for calculating the BRR." For more info: cmegroup.com/bitcoinfutures.

CME Globex | cmegroup.com/globex: "CME Globex is the premier electronic trading system providing global connectivity to the broadest array of futures and options across all asset classes. CME Group technology facilitates electronic trading, providing users across the globe with virtually 24-hour access to global markets ..."

CME Group Inc.(Chicago Mercantile Exchange & Chicago Board of Trade) is a U.S. based financial market company operating an options and futures exchange. It owns and operates large derivatives and futures exchanges in Chicago, New York City, and exchange facilities in London, using online trading platforms. It also owns the Dow Jones stock and financial indexes, and CME Clearing Services, which provides settlement and clearing of exchange trades. The exchange-traded derivative contracts include futures and options based on interest rates, equity indexes, foreign exchange, energy, agricultural commodities, rare and precious metals, weather, and real estate. Corporate headquarters are in Chicago in The Loop.
But also read:

2) Antitrust & Tech: 
  • Antitrust should be used to break up partisan tech giants like Facebook, Google | TheHill.com: "How much face time will your news story get on Facebook? How many eyes will ogle it on Google? Too often, this is apparently determined not by whether the story is “fake” news or newsworthy, but by whether it’s politically correct. And it’s time to break up the Internet’s left-wing, information-conduit oligopoly." 
  • U.S. Senator Richard Blumenthal's letter (pdf) to the U.S. Department of Justice Antitrust Division re: Comcast-NBC merger--Senator Blumenthal asked the Trump administration's top antitrust prosecutor, Makan Delrahim, to revisit the deal and to try to keep in place conditions set to expire next year. "Given your responsibilities as head of the Antitrust Division to enforce our nation’s antitrust laws, it is incumbent on you to continue to ensure that Comcast’s acquisition of NBCU does not undermine free and fair competition," Blumenthal wrote. The Connecticut Democrat also asked Delrahim to consider splitting up the two companies if he finds that their merger has dampened competition.
  • US Senator Elizabeth Warren (D-MA) backs Trump's DOJ over AT&T-Time Warner merger | TheHill.com: "While DOJ’s action on the AT&T-Time Warner merger is a good step, one case alone does not prove that DOJ will be the strong antitrust enforcer that America needs."--Senator Elizabeth Warren.

3) Investing
graphic: "INVESTING"  ©2017 DomainMondo.com
The Week:  Stocks Hit Records With GOP Set to Unveil Tax Bill: Markets Wrap | Bloomberg.com:  U.S. Dollar (USD) advances with gold and crude, Treasuries steady, S&P 500, Dow Industrials, Nasdaq indexes all reach fresh highs.

Investing Notes:

4) ICYMI Tech News:
graphic: "ICYMI Tech News" ©2017 DomainMondo.com
  • Tech Hub London: London's Housing Market Is Still a Money Machine--Bloomberg.com.
  • Cord Cutters--ZeroHedge.com: New Study Says 40% Of American Households Will 'Cut The Cord' By 2030. 
  • Is Alibaba [$BABA] Eating JD.com's (NASDAQ:JD) Lunch? | SeekingAlpha.com
  • Alibaba to buy 30% of India's online grocer BigBasket for $300M, with $80M of the investment used to buy shares from existing shareholders--indiatimes.com.
  • Baidu (NASDAQ:BIDU) (domain: baidu.com) has a dominant position in China's search market with a 76% share of online search and an 82.5% share of China's mobile search market. China is the largest online market in the world with roughly 730 million users, a penetration rate of only 52%, and an annual ad spending growth rate of 32%--SeekingAlpha.com.
  • Life is Short | paulgraham.com: "As I've written before, one byproduct of technical progress is that things we like tend to become more addictive. Which means we will increasingly have to make a conscious effort to avoid addictions—to stand outside ourselves and ask "is this how I want to be spending my time?" As well as avoiding bullshit one should actively seek out things that matter ... But most people start out with a life that's a mix of things that matter and things that don't, and only gradually learn to distinguish between them."

-- John Poole, Editor, Domain Mondo  

feedback & comments via twitter @DomainMondo


DISCLAIMER

Domain Mondo posts: