CME Group chairman and CEO Terry Duffy has said that the derivatives exchange operator could list a planned bitcoin futures product as early as next month.

The firm made waves in October when it revealed that it was seeking regulatory approval to list its first bitcoin-related product. At the time, CME said that the futures would be tied to its existing price index, launched in 2016, and be settled via cash.

Speaking to CNBC today, Duffy said that trading could begin as early as the second week of December.

"I think sometime in the second week of December you'll see our contract out for listing," he told the network.

Among Duffy's notable comments in the interview: insight into how CME would handle major fluctuations in the price. He suggested that CME could move to halt trading in the event of significant swings, and that existing rules would be called upon in the event of a catastrophic price decline.

"Listen, when someone says to me, the price is going to zero, what are you going to do, I'm not going to let it go to zero," he explained. "I'm going to implement something. If the market drops precipitously, we'll stop trading, and if we think a product is going away, we have the longs, we have the shorts, we'll match them up at a price and that's the way our rules read today."

Disclosure: CME Group is an investor in Digital Currency Group, CoinDesk's parent company.

Original content copied from https://www.coindesk.com/cme-ceo-bitcoin-futures-begin-trading-soon-december/

The below video and above News has been released less than 6 hours ago.

A recording of Duffy's interview can be found below:

What is CME group:

CME Group is the world's leading and most diverse derivatives marketplace, handling 3 billion contracts worth approximately $1 quadrillion annually (on average). The company provides a marketplace for buyers and sellers, bringing together individuals, companies and institutions that need to manage risk or that want to profit by accepting risk.

Their Current Exchanges : CME, CBOT, NYMEX and COMEX -
http://www.cmegroup.com/company/

Do you guys understand the impact this company will have alone on bitcoins? Allowing bitcoins on such major exchanges will incredibly increase the use and demand of bitcoins, and further impact the price into a major increase!

I think they will be dealing with bitcoins only and not bitcoin cash, so the first impact would be on bitcoins, however if they approve bitcoin cash as well, I am confident bitcoin cash will replace bitcoin on a fast pace and become the worlds leading coin and even bypass bitcoin's current price in its such short life history!

What do you guys think the impact of CME to including bitcoin as a payment procedure in their platforms, will it effect other coins? do u think they will include other coins as well or stick to bitcoins?
What other major companies will come and announce acceptance of bitcoin following CME's group decision?

I am confident this is MAJOR good news for us crypto users .