CHICAGO, Feb. 20,
2024 /PRNewswire/ -- CME Group, the world's leading
derivatives marketplace, today announced it plans to further expand
its cryptocurrency derivatives offering with the
addition of Micro Bitcoin Euro and Micro Ether Euro
futures on March 18, pending
regulatory review.
"Global investors have sought more precise tools to manage their
risk as interest for bitcoin and ether grows. As such,
we have seen a four-fold increase in volume in our USD-denominated
Micro Bitcoin and Micro Ether futures," said
Giovanni Vicioso, Global Head of
Cryptocurrency Products at CME Group. "The launch of
these new Micro Euro-denominated contracts will provide clients
with additional products to more efficiently hedge
bitcoin and ether exposure in the second-highest
traded fiat behind U.S. dollar-based contracts. Year-to-date, 24%
of Bitcoin and Ether futures volume at CME Group has
been transacted from the EMEA region, and we continue to develop
additional tools for clients there to hedge their
crypto portfolios and express or take a view on
potential market moves."
Designed to match their U.S. dollar-denominated counterparts,
Micro Bitcoin Euro and Micro Ether Euro futures
contracts will be sized at one-tenth of their respective underlying
cryptocurrencies. These new futures contracts will be
listed on and subject to the rules of CME.
"TP ICAP will support this market-defining
crypto derivative from CME Group by providing block
facilitation services to this product. Our global Digital Assets
business has been providing price discovery and execution services
on CME Group's suite of crypto derivatives since the
start of 2020, leveraging TP ICAP's strengths in connecting market
participants as the foundation for our Digital Assets proposition,"
said Sam Newman, Digital Assets Head
of Broking at TP ICAP. "Interest in crypto derivatives
has seen huge worldwide growth in recent years and these new
euro-denominated micro futures contracts will help further expand
the accessibility and utility of crypto derivatives,
particularly within Europe."
CME Group's Cryptocurrency product suite continues
to provide consistent liquidity, volume, and open interest for
clients seeking to hedge their risk or gain exposure to the asset
class. January was a record month in terms of average daily volume
(71K contracts) across all
Cryptocurrency products. In addition, average daily
open interest for Bitcoin and Ether futures reached
all-time highs for the month (23.5K
contracts and 6K contracts,
respectively). Micro Bitcoin and Micro Ether futures
also saw a trading surge, with average daily volumes growing 43%
versus December 2023.
For more information on this product, please visit
www.cmegroup.com/microeuro.
As the world's leading 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.
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 is a trademark of
BrokerTec Americas LLC and EBS is a trademark of EBS Group LTD. The
S&P 500 Index is a product of S&P Dow Jones Indices LLC
("S&P DJI"). "S&P®", "S&P 500®", "SPY®", "SPX®", US 500
and The 500 are trademarks of Standard & Poor's Financial
Services LLC; Dow Jones®, DJIA® and Dow Jones Industrial Average
are service and/or trademarks of Dow Jones Trademark Holdings LLC.
These trademarks have been licensed for use by Chicago Mercantile
Exchange Inc. Futures contracts based on the S&P 500 Index are
not sponsored, endorsed, marketed, or promoted by S&P DJI, and
S&P DJI makes no representation regarding the advisability of
investing in such products. All other trademarks are the property
of their respective owners.
CME-G
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SOURCE CME Group