TD Ameritrade Will Start Offering Cboe Bitcoin Futures on Monday
Only clients with $25,000 in their accounts will gain access.
(Bloomberg) -- TD Ameritrade Holding Corp. will let its brokerage clients trade bitcoin futures starting on Monday, a week after they debuted.
Customers will gain access to the contracts offered by Cboe Global Markets Inc. To trade, they must have a minimum account balance of $25,000 and post margin -- or collateral -- that’s one and a half times higher than Cboe requires, according to a statement emailed Friday.
CME Group Inc. is introducing its own bitcoin futures on Dec. 17, but TD Ameritrade customers won’t immediately be able to trade those, the company said.
“Right now we are taking the same approach we did with the Cboe product, to wait and see how it goes,” said JB Mackenzie, managing director for futures trading at TD Ameritrade. “We want to watch that market open and become an orderly marketplace and see who the participants are in that marketplace. This is the same process we use with any new product. We want to see how the market reacts.”
To contact the reporter on this story: Rob Urban in New York at robprag@bloomberg.net.
To contact the editors responsible for this story: Nick Baker at nbaker7@bloomberg.net, Dave Liedtka
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