CBOE Website Crashes As XBT Trading Begins, First Trading Halt As Bitcoin Price Surges


from Zero Hedge:

Update: At precisely 8:31pm ET, the CBOE instituted the first ever XBT trading halt, which lasted for two minutes according to a notice on Cboe’s website. XBT contracts have since resumed trading. As a reminder, the Cboe can halt trading for 2 minutes after 10% swings, and 5 minutes at 20%, an attempt to prevent wild swings.

Notably earlier in the evenig they exercised discretion and decided nto to halt the XBT trading as the first opening spike occurred…

The CBOE’s website crashed within minutes of the CBOE open on Sunday – which also marked the launch of the first bitcoin futures to trade on a major exchange… 

… while the price of a bitcoin spiked 10% in five minutes as the new contract with the ticker XBT fluctuated wildly.

The embarrassing crash happened as the entire financial world was closely watching the first historic institutionalization of bitcoin:

Shortly after the initial snafu, the CBOE tweeted that “visitors to cboe.com may find site is performing slower than usual and may at times be temporarily unavailable” due to heavy traffic adding that “all trading systems are operating normally.”

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