CME Group, among the world’s leading and most varied derivatives markets, today revealed it will broaden its crypto derivatives offerings with the intro of Micro Ether futures on December sixth.
Sized at one-tenth of one ether, Micro Ether futures will offer an effective, cost-efficient method for a series of market individuals – from organizations to advanced, active, private traders – to hedge their area ether rate danger or more nimbly perform ether trading methods, all while maintaining the functions and advantages of CME Group’s larger-sized Ether futures.
Micro Ether futures will sign up with CME Group’s growing suite of cryptocurrency derivatives, consisting of just recently released Micro Bitcoin futures which have actually traded more than 2.7 million agreements because released in May.
Launch-to-date, more than 675,500 Ether futures agreements (equivalent to about 33.8 million ETH) have actually traded. The brand-new agreement will be cash-settled, based upon the CME CF Ether-Dollar Reference Rate, which acts as a once-a-day recommendation rate of the U.S. dollar rate of ether.
“Since the launch of Ether futures in February, we have seen steady growth in liquidity in these contracts, especially among institutional traders,” stated 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.”
For more details on Micro Ether futures (MET), click here.