CHICAGO, Nov. 2, 2021 /PRNewswire/ -- CME
Group, the world's leading and most diverse derivatives
marketplace, today announced it will expand its crypto derivatives
offerings with the introduction of Micro Ether futures on
December 6, pending regulatory
review.
Sized at one-tenth of one ether, Micro Ether futures will
provide an efficient, cost-effective way for a range of market
participants – from institutions to sophisticated, active,
individual traders – to hedge their spot ether price risk or more
nimbly execute ether trading strategies, all while retaining the
features and benefits of CME Group's larger-sized Ether
futures.
"Since the launch of Ether futures in February, we have seen
steady growth in liquidity in these contracts, especially among
institutional traders," said Tim
McCourt, CME Group Global Head of Equity Index and
Alternative Investment Products. "At the same time, the price of
ether has more than doubled since these contracts were introduced,
creating demand for a micro-sized contract to make this market even
more accessible to a broader range of participants. Micro Ether
futures will offer even more choice and precision in how they trade
Ether futures in a transparent, regulated and efficient manner at
CME Group."
Micro Ether futures will join CME Group's growing suite of
cryptocurrency derivatives, including recently launched Micro
Bitcoin futures which have traded more than 2.7 million
contracts since launched in May. Launch-to-date, more than 675,500
Ether futures contracts (equivalent to about 33.8 million
ether) have traded.
In addition, Micro Ether futures will complement CME Group's
diverse slate of more than 20 Micro products, which, together, have
traded more than 1 billion contracts since their introduction.
The new contract will be cash-settled, based on the CME CF
Ether-Dollar Reference Rate, which serves as a once-a-day reference
rate of the U.S. dollar price of ether. Micro Ether futures will be
listed on and subject to the rules of CME.
For more information on this product, please see:
www.cmegroup.com/microether.
As the world's leading and most diverse 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. With a range
of pre- and post-trade products and services underpinning the
entire lifecycle of a trade, CME Group also offers optimization and
reconciliation services through TriOptima, and trade processing
services through Traiana.
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, EBS, TriOptima,
and Traiana are trademarks of BrokerTec Europe LTD, EBS Group LTD,
TriOptima AB, and Traiana, Inc., 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