CME Group, a number one derivatives market, right this moment introduced its plans to broaden additional its cryptocurrency derivatives providing with the introduction of Bitcoin Euro and Ether Euro futures on Monday, August twenty ninth, pending regulatory evaluate.
Designed to match their U.S. dollar-denominated counterparts, Bitcoin Euro and Ether Euro futures contracts will likely be sized at 5 bitcoin and 50 ether per contract.
These new contracts will likely be cash-settled, based mostly on the CME CF Bitcoin-Euro Reference Fee and CME CF Ether-Euro Reference Fee, which function once-a-day reference charges of the euro-denominated value of bitcoin and ether. These new futures contracts will likely be listed on and topic to the foundations of CME.
“Euro-denominated cryptocurrencies are the second highest traded fiat behind the U.S. greenback. Yr-to-date, the EMEA area represents 28% of complete Bitcoin and Ether futures contracts traded, up greater than 5% versus 2021.”
– Tim McCourt, Global Head of Equity and FX Products, CME Group
CME Group’s cryptocurrency product suite continues to offer constant liquidity, quantity, and open curiosity for shoppers in search of to hedge their danger or acquire publicity to the asset class. Q2 was a file quarter of common day by day open curiosity (106.2K contracts).
It was the second highest quarter ever in common day by day quantity (57.4K contracts) throughout all cryptocurrency merchandise. As well as, Ether futures achieved a file common day by day quantity of 6.6K contracts in Q2, up greater than 27% versus Q1.
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