CHICAGO, June 25, 2021 /PRNewswire/ -- CME Group, the
world's leading and most diverse derivatives marketplace, announced
that Micro Bitcoin futures volume surpassed 1
million contracts on Friday, June
25.
"We continue to see strong customer demand and rapid uptake in
our new Micro Bitcoin futures contract since their introduction a
little more than a month ago," said Tim
McCourt, CME Group Global Head of Equity Index and
Alternative Investment Products. "At one-tenth of one bitcoin, this
micro-sized contact is designed to provide market participants –
from institutions to smaller, sophisticated, active traders – with
another tool to hedge their spot bitcoin price risk or execute
bitcoin trading strategies in an efficient, cost-effective and
easily accessible way.
"This is a tremendous achievement for a contract that was just
launched seven weeks ago," said Brooks
Dudley, Global Head of Digital Assets at ED&F Man
Capital Markets. "We've seen more institutional volume than we
anticipated, which shows that the timing was right for a smaller
bitcoin contract."
"The addition of Micro Bitcoin futures has further opened the
door for active retail traders across asset classes to enter the
futures marketplace," said Martin
Franchi, CEO of NinjaTrader Group, LLC. "We have seen the
fast rise in popularity of this new micro contract among the
NinjaTrader user community correlate with growing demand from
cryptocurrency traders interested in the opportunity to diversify
and leverage professional tools in their trading."
Micro Bitcoin futures are cash-settled to the CME CF Bitcoin
Reference Rate, which serves as a once-a-day reference rate of the
U.S. dollar price of bitcoin. Micro Bitcoin futures are listed on
and subject to the rules of CME.
For more information on this product, please see
www.cmegroup.com/microbitcoin.
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.
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CME-G
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SOURCE CME Group