8 August 2022
CME Group, the world’s main derivatives market, introduced it plans to additional broaden its cryptocurrency derivatives providing with the introduction of Bitcoin Euro and Ether Euro futures on August 29, pending regulatory evaluate.
Designed to match their U.S. dollar-denominated counterparts, Bitcoin Euro and Ether Euro futures contracts will probably be sized at 5 bitcoin and 50 ether per contract. These new contracts will probably be cash-settled, based mostly on the CME CF Bitcoin-Euro Reference Price and CME CF Ether-Euro Reference Price, which function once-a-day reference charges of the euro-denominated worth of bitcoin and ether. These new futures contracts will probably be listed on and topic to the principles of CME.
Tim McCourt
“Ongoing uncertainty in cryptocurrency markets, together with the sturdy progress and deep liquidity of our present Bitcoin and Ether futures, is creating elevated demand for danger administration options by institutional buyers outdoors the U.S. Our Bitcoin Euro and Ether Euro futures contracts will present purchasers with extra exact instruments to commerce and hedge publicity to the 2 largest cryptocurrencies by market cap,”
stated Tim McCourt, International Head of Fairness and FX Merchandise, CME Group.
CME Group’s Cryptocurrency product suite continues to offer constant liquidity, quantity, and open curiosity for purchasers in search of to hedge their danger or achieve publicity to the asset class. Q2 was a document quarter when it comes to common day by day open curiosity (106.2K contracts) and was the second highest quarter ever when it comes to common day by day quantity (57.4K contracts) throughout all Cryptocurrency merchandise. As well as, Ether futures achieved a document common day by day quantity of 6.6K contracts in Q2, up greater than 27% versus Q1.
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