Regulation

Disclosures and Disclaimers Related to Cboe Options and Futures Products

• Digital asset futures are offered through Cboe Digital Exchange, LLC (“Cboe Digital Exchange”) and Cboe Clear U.S., LLC (“Cboe Clear US”), “(Cboe Digital Exchange and Cboe Clear US, collectively, referred to as “Cboe Digital”), which are both Cboe companies. Cboe Digital Exchange is registered with the Commodity Futures Trading Commission (“CFTC”) as a Designated Contract Market (“DCM”) and Cboe Clear US is registered with the CFTC as a Derivatives Clearing Organization (“DCO”).

• Trading in futures trading is not suitable for all market participants and involves the risk of loss, which can be substantial and can exceed the amount of money deposited for a futures position. You should, therefore, carefully consider whether futures trading is suitable for you in light of your circumstances and financial resources. You should put at risk only funds that you can afford to lose without affecting your lifestyle.
• For additional information regarding the risks associated with trading futures, see the Risk Disclosure Statement referenced in CFTC Letter 16-82.

The volatility and unpredictability of the price of digital assets relative to fiat currency may result in significant loss in digital asset futures over a short period of time. Certain digital assets have experienced extreme daily price volatility. 

There are material risks associated with the clearing of digital asset futures contracts, including but not limited to theft, loss, or hack of the underlying digital asset. 

Legislative and regulatory changes or actions at the state, federal, or international level may adversely affect the use, transfer, exchange, and value of digital assets. 

The value of digital asset futures may be derived from the continued willingness of market participants to exchange fiat currency for digital assets, which may result in the potential for permanent and total loss of value of a particular digital asset should the market for that digital asset diminish or disappear. 

The nature of digital assets may lead to an increased risk of fraud or a cybersecurity event. A cybersecurity event could result in a substantial, immediate, and irreversible loss for market participants that invest in digital asset futures. Even a minor cybersecurity event in a digital asset is likely to result in downward price pressure on that digital asset and related digital asset futures and potentially other digital assets and digital asset futures. 

The ability to participate in forks could also have implications. For example, if you hold digital asset futures positions through Cboe Digital, you may be adversely impacted if those digital asset futures do not reflect a fork that creates a new digital asset. 

FinCEN MSB Registration Number: 31000125259142).  Cboe Clear US no longer conducts money transmission or related activity.

Questions? Please contact us at [email protected]

If you wish to place a complaint with the Cboe Digital Market Regulation Department, please send an email to [email protected] and include the following information:

• Your first and last name
• Your phone number
• Whether your complaint involves an individual, a firm, or market activity generally
• The date and time of the incident
• The contract(s) or product(s) involved in the incident
• Any other information you can provide that will help the Market Regulation Department investigate the incident.

The information obtained from a complaint is confidential and will generally not be shared outside of the Market Regulation Department. Subject to the Exchange rules, and state and federal regulations, information related to the complaint may be shared with the CFTC or state regulatory agencies.

If you wish to place a complaint anonymously, please contact Cboe Digital and request to speak with the Market Regulation Department.

• Cboe Digital communicates with participants electronically through the Client Member Portal, email, and/or the Cboe Digital website. It is your responsibility to check the Client Member Portal, your email, and the Cboe Digital website regularly. In particular, confirmations, receipts, and statements related to all deposits, withdrawals, trades, transactions, and other activities within your clearing account will be posted to your Client Member Portal.
• Confirmations of activities posted to the Client Member Portal shall be conclusive and final. You must notify Cboe Digital of any error within 24 hours of Cboe Digital posting the confirmation.

• No Cboe Global Markets, Inc. (“CGM”) Company is an investment adviser or tax advisor, and no representation is made regarding the advisability or tax consequences of investing in, holding, or selling any digital asset or financial product. A decision to invest in, hold, or sell any digital asset or financial product should not be made in reliance on any of the statements or information provided. Market participants are advised to make an investment in, hold, or sell any digital asset or financial product only after carefully considering the associated risks and tax consequences, including information detailed in any offering memorandum or similar document prepared by or on behalf of the issuer of a financial product, with the advice of a qualified professional investment adviser and tax advisor.
• Under section 1256 of the Tax Code, profit and loss on transactions in certain exchange-traded futures are entitled to be taxed at a rate equal to 60% long-term and 40% short-term capital gain or loss, provided that the market participants involved and the strategy employed satisfy the criteria of the Tax Code. Market participants should consult with their tax advisors to determine how the profit and loss on any particular futures strategy will be taxed. Tax laws and regulations change from time to time and may be subject to varying interpretations.

See our statement on privacy here.

By accessing, viewing, or using this website or any services of either Cboe Clear US or Cboe Digital Exchange, you indicate your acknowledgement and acceptance of these Terms of Use. See our statement on Terms of Use here.

To help ensure the integrity of our markets, all participants and all market activity are subject to the rules of Cboe Clear U.S., LLC and Cboe Digital Exchange LLC. Among other things, these rules prohibit manipulative and fraudulent activity, and provide remedies to Cboe Digital Exchange or Cboe Clear US and other participants in the event of violative conduct

• Cboe^®, Cboe Global Markets^®, Cboe Digital^®, Cboe Digital Exchange^®, and Cboe Clear℠ are registered trademarks or service marks of CGM and its subsidiaries

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