CME Group, one of many world’s main and most numerous derivatives marketplaces, right now introduced it should develop its crypto derivatives choices with the introduction of Micro Ether futures on December sixth.
Sized at one-tenth of 1 ether, Micro Ether futures will present an environment friendly, cost-effective approach for a spread of market contributors – from establishments to stylish, lively, particular person merchants – to hedge their spot ether value danger or extra nimbly execute ether buying and selling methods, all whereas retaining the options and advantages of CME Group’s larger-sized Ether futures.
Micro Ether futures will be a part of CME Group’s rising suite of cryptocurrency derivatives, together with just lately launched Micro Bitcoin futures which have traded greater than 2.7 million contracts since launched in Might.
Launch-to-date, greater than 675,500 Ether futures contracts (equal to about 33.8 million ETH) have traded. The brand new contract will likely be cash-settled, based mostly on the CME CF Ether-Dollar Reference Rate, which serves as a once-a-day reference price of the U.S. greenback value of ether.
“For the reason that launch of Ether futures in February, we have now seen regular progress in liquidity in these contracts, particularly amongst institutional merchants,” mentioned Tim McCourt, CME Group World Head of Fairness Index and Different Funding Merchandise. “On the similar time, the value of ether has greater than doubled since these contracts have been launched, creating demand for a micro-sized contract to make this market much more accessible to a broader vary of contributors. Micro Ether futures will provide much more selection and precision in how they commerce Ether futures in a clear, regulated, and environment friendly method at CME Group.”
For extra info on Micro Ether futures (MET), click here.