CME Group, the world’s main derivatives market, introduced it plans to additional develop its cryptocurrency derivatives providing with the introduction of Bitcoin Euro and Ether Euro futures on August 29, pending regulatory evaluation.
Designed to match their U.S. dollar-denominated counterparts, Bitcoin Euro and Ether Euro futures contracts might be sized at 5 bitcoin and 50 ether per contract. These new contracts might be cash-settled, based mostly on the CME CF Bitcoin-Euro Reference Charge and CME CF Ether-Euro Reference Charge, which function once-a-day reference charges of the euro-denominated worth of bitcoin and ether. These new futures contracts might be listed on and topic to the principles of CME.
Tim McCourt
“Ongoing uncertainty in cryptocurrency markets, together with the sturdy development and deep liquidity of our current Bitcoin and Ether futures, is creating elevated demand for threat administration options by institutional buyers exterior the U.S. Our Bitcoin Euro and Ether Euro futures contracts will present shoppers with extra exact instruments to commerce and hedge publicity to the 2 largest cryptocurrencies by market cap,”
stated Tim McCourt, World Head of Fairness and FX Merchandise, CME Group.
CME Group’s Cryptocurrency product suite continues to supply constant liquidity, quantity, and open curiosity for shoppers looking for to hedge their threat or acquire publicity to the asset class. Q2 was a report quarter when it comes to common every day open curiosity (106.2K contracts) and was the second highest quarter ever when it comes to common every day quantity (57.4K contracts) throughout all Cryptocurrency merchandise. As well as, Ether futures achieved a report common every day quantity of 6.6K contracts in Q2, up greater than 27% versus Q1.
This text first appeared on fintechnews.am
Featured picture credit score: Edited from rawpixels
