According to a Moody's report released on February 14, two months after CME and CBOE began operating, the launch of futures will likely not affect their credit ratings. Representatives of the rating agency are confident that the measures taken by trading platforms to minimize credit rating risks give every reason to classify the risks as frivolous.
According to Moody’s experts, at the moment futures trading does not have record volumes. At the same time, CME and CBOE plan to play on investor interest in the underlying asset. Although the price of Bitcoin is characterized by its high volatility, the credit rating of the sites will not be affected, since they are small in volume.
In addition to this, companies are doing serious work on their risk management system. In particular, the sites have high margin limits for Bitcoin futures transactions, which helps protect partners from bankruptcy. In the future, restrictions will increase, according to data that was submitted to regulators.
In the rating agency's 11-page report, you can see an overview of the problems that, according to Moody's, are holding back the formation and development of the futures market. They include the volatility of Bitcoin among these problems.
Moody’s experts also believe that if the volatility of digital currencies increases, the requirements of the CME and CBOE may change, which will force brokers such as TD Ameritrade and E*Trade to follow the direction set by the sites.
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