CHICAGO, Feb. 8, 2021 /PRNewswire/ -- CME Group, the
world's leading and most diverse derivatives marketplace, today
launched Ether futures, further expanding its crypto derivatives
offerings in this emerging asset class.
"As institutional demand for transparent, exchange-listed crypto
derivatives continues to increase, we are pleased to launch our new
Ether futures contract," said Tim
McCourt, CME Group Global Head of Equity Index and
Alternative Investment Products. "The addition of Ether, along with
our liquid Bitcoin futures and options, will create new
opportunities for a broad array of clients, whether they are
looking to hedge ether positions in the spot market or gain
exposure to this cryptocurrency on a regulated derivatives
marketplace."
"Just like in other capital markets, derivatives have become the
avenue of choice for institutions to access cryptocurrencies," said
Sui Chung, CEO of CF Benchmarks.
"Our status as a U.K. FCA regulated benchmark provider, whose
compliance is regularly audited by Deloitte, gives institutions
further confidence to enter the cryptocurrency space via the CME
Ether futures contact based on our CME CF Ether-Dollar Reference
Rate. For the first time, investors can gain exposure to the
second-largest cryptocurrency by market cap via a U.S.-regulated
futures contract. Just as Bitcoin futures paved the way for
institutions to enter the crypto market in 2017, so CME Ether
futures will allow CME Group clients to gain even greater exposure
to the asset class."
"CME Group has been an integral participant in the continued
institutionalization of this asset class, and the launch of Ether
futures is yet another milestone," said Michael Moro, CEO of Genesis Global Trading Inc.
"Genesis is excited to continue to work closely with CME in this
effort."
"The launch of CME Ether futures is an exciting addition to the
digital assets ecosystem as it evidences the ongoing maturation of
the asset class as a whole," said Michael
Sonnenshein, CEO of Grayscale Investments. "At Grayscale
Investments, we've seen enormous growth in investor interest for
Ethereum and we're excited to see the growing list of financial
product offerings expanding access to digital currencies."
CME Ether futures are 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. Ether futures are
listed on and subject to the rules of CME.
For more information on this product, please
visit www.cmegroup.com/etherfutures.
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.
Media
Contacts
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Investor
Contact
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Chris Grams,
312.930.3435
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John Peschier,
312.930.8491
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Matt Southerlan,
312.622.8951
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CME-G
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www.cmegroup.mediaroom.com
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SOURCE CME Group