DRW calls for physical settlement of bitcoin futures
Prop shop’s head of market structure says underlying spot exchanges are not transparent enough
The head of market structure at Chicago-based trading firm DRW Holdings has warned the current settlement mechanism for bitcoin futures could disrupt the market and he calls for the contracts to be physically settled.
“We continue to have concerns that the way these futures contracts are pegged to these cash markets, which are less transparent, could result in dislocations in the future,” Richard Gorelick said at a meeting of the Commodity Futures Trading Commission’s technology advisory
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