The Chicago Mercantile Exchange (CME) will launch micro-futures based on Ethereum, according to a press release.
Trading of new derivatives will begin on December 6th. Each contract will be one-tenth of ETH.
Tim McCourt, CME Group Global Head of Equity Index and Alternative Investment Products said:
“Since the launch of Ether futures in February, we have seen steady growth in liquidity in these contracts, especially among institutional traders, 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.”
The new contract will be 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. Micro Ether futures will be listed on and subject to the rules of CME.
As a reminder, in May, CME began trading micro futures for bitcoin which traded more than 2.7 million contracts Since May.
Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic’s opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
-Advertisement-
