CHICAGO, Aug. 4, 2022
/PRNewswire/ -- CME Group, the world's leading
derivatives marketplace, today announced it plans to further expand
its cryptocurrency derivatives offering with the introduction of
Bitcoin Euro and Ether Euro futures on August 29, pending regulatory review.
Designed to match their U.S. dollar-denominated counterparts,
Bitcoin Euro and Ether Euro futures contracts will be sized at five
bitcoin and 50 ether per contract. These new contracts will be
cash-settled, based on the CME CF Bitcoin-Euro Reference Rate
and CME CF Ether-Euro Reference Rate, which serve as once-a-day
reference rates of the euro-denominated price of bitcoin
and ether. These new futures contracts will be listed on and
subject to the rules of CME.
"Ongoing uncertainty in cryptocurrency markets, along with the
robust growth and deep liquidity of our existing Bitcoin and Ether
futures, is creating increased demand for risk management solutions
by institutional investors outside the U.S. Our Bitcoin Euro and
Ether Euro futures contracts will provide clients with more precise
tools to trade and hedge exposure to the two largest
cryptocurrencies by market cap," said Tim
McCourt, Global Head of Equity and FX Products, CME Group.
"Euro-denominated cryptocurrencies are the second highest traded
fiat behind the U.S. dollar. Year-to-date, the EMEA region
represents 28% of total Bitcoin and Ether futures contracts traded,
up more than 5% versus 2021."
"The launch of euro-denominated Bitcoin and Ether futures from
CME Group will help meet the growing demand for regulated and
robust, non-USD crypto derivatives," said Edmond Goh, Head of Trading at B2C2. "As
the premier OTC counterparty, we look forward to continuing to
provide liquid markets in this important asset class."
"TP ICAP is excited to support another market-defining
cryptoasset product from CME Group. Our Digital Assets business has
been operational and brokering CME Group cryptoassets since the
start of 2020, originally in London, followed by expansion to the U.S.
in 2021 and, most recently, in APAC via Hong Kong and Singapore," said Sam
Newman, Digital Assets Head of Brokering at TP ICAP.
"Interest in cryptoassets has seen huge growth, and these new
euro-denominated futures contracts will help further expand the
accessibility and utility of cryptoasset derivatives, particularly
within Europe."
CME Group's Cryptocurrency product suite continues to provide
consistent liquidity, volume, and open interest for clients seeking
to hedge their risk or gain exposure to the asset class. Q2 was a
record quarter in terms of average daily open interest
(106.2K contracts) and was the second
highest quarter ever in terms of average daily volume
(57.4K contracts) across all Cryptocurrency products. In
addition, Ether futures achieved a record average daily
volume of 6.6K contracts in Q2, up
more than 27% versus Q1.
For more information on this product, please visit
https://www.cmegroup.com/cryptocurrencies#explore-our-cryptocurrency-products.
As the world's leading derivatives marketplace, CME Group
(www.cmegroup.com) enables clients to trade futures, options, cash
and OTC markets, optimize portfolios, and analyze data – empowering
market participants worldwide to efficiently manage risk and
capture opportunities. CME Group exchanges offer the widest range
of global benchmark products across all major asset classes based
on interest rates, equity indexes, foreign
exchange, energy, agricultural
products and metals. The company offers futures and
options on futures trading through the CME Globex® platform, fixed
income trading via BrokerTec and foreign exchange trading on the
EBS platform. In addition, it operates one of the world's
leading central counterparty clearing providers, CME
Clearing.
CME Group, the Globe logo, CME, Chicago Mercantile Exchange,
Globex, and, E-mini are trademarks of Chicago Mercantile
Exchange Inc. CBOT and Chicago Board of Trade are trademarks of Board
of Trade of the City of Chicago,
Inc. NYMEX, New York Mercantile Exchange and ClearPort are
trademarks of New York Mercantile Exchange, Inc. COMEX is a
trademark of Commodity Exchange, Inc. BrokerTec and EBS are
trademarks of BrokerTec Europe LTD and EBS Group LTD,
respectively. Dow Jones, Dow Jones Industrial Average, S&P
500 and S&P are service and/or trademarks of Dow Jones
Trademark Holdings LLC, Standard & Poor's Financial Services
LLC and S&P/Dow Jones Indices LLC, as the case may be, and have
been licensed for use by Chicago Mercantile Exchange Inc. All
other trademarks are the property of their respective owners.
CME-G
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SOURCE CME Group