THELOGICALINDIAN - Investors in Thailand can now barter bitcoin futures listed on the Chicago Mercantile Exchange and the Chicago Board Options Exchange The countrys banking authorities say that these instruments should be offered in Thailand and one aggregation is already alms them to their customers
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Bitcoin Futures Trading Available Now
Phillip Securities Thailand Ltd. appear on Monday the barrage of its bitcoin futures trading casework for investors absent to advance in bitcoin futures listed on the Chicago Board Options Exchange (CBOE) and the Chicago Mercantile Exchange (CME), bounded publications reported.
Apisak Vongvanij, arch of all-around markets at Phillip Securities Thailand, explained that barter “must administer for the company’s all-around derivatives service,” the Bangkok Post detailed. This service, launched 6 years ago, allows them to barter futures on 15 all-around futures markets, including CBOE and CME, Vongvanij continued, abacus that “Thais are apparent as analytic alive investors.”
Prices are quoted in US dollars and investors accept to put money bottomward to awning their advance margin, he noted. “In principle, investors should adapt money as a absorber for amount movement about 20-30% aloft the margin.”
Regulators’ Responses
In its advertisement, Phillip Securities “claims to be the aboriginal and alone allowance aggregation in Thailand to action bitcoin futures trading in the CBOE and CME,” the Nation reported.
In acknowledgment to the company’s claim, the abettor governor of the Bank of Thailand (BOT), Chantavarn Sucharitakul, bidding her concern. “This account ability mislead investors into assertive that its account has gotten approval from the BOT. The BOT has never legalised bitcoin as a bill for banking transactions,” she clarified.
However, she additionally said that the axial coffer allows “Thai investors to advance in adopted banking assets,” but “they should be acquainted of the aerial risks associated with agenda currencies”
The admiral of the Stock Exchange of Thailand (SET), Kesara Manchusree, concurred about the risks but believes that “since Phillip Securities is a affiliate of the CBOE and CME markets, which action bitcoin trading, it could accommodate the bitcoin advance account to Thai investors.”
Citing that both the CME and CBOE are beneath the administration of the US Commodity Futures Trading Commission, the abettor secretary-general of the Thai Securities and Exchange Commission (SEC), Paralee Sukonthaman, said:
A account from the Thai SEC acquired by the Bangkok Post reads, “Since this artefact is beneath the administration of a standardised authoritative body, a point of concern, in this case, is not about artifice or money laundering, but rather how this artefact has aerial risks.”
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