CME Group to Introduce Euro-Dominated ETH & BTC Futures

The leading marketplace of derivatives across the globe, CME Group, today introduced Ether Euro and Bitcoin Euro futures. Global Head of Equity and FX Products at CME Group, Tim McCourt, stated that the release of these latest futures contracts is based on the resilient advancement as well as deep liquidity witnessed by them in their present futures contracts of Ether and Bitcoin that were dominated by the United States dollar.

CME Group Introduces Euro-Dominated Ether and Bitcoin Futures

The executive added that their exclusive Ether Euro and Bitcoin Euro futures are to offer organizational consumers (whether they are inside or external to the United States) more specific as well as regulated instruments for trading and hedging exposure to the above-mentioned two biggest crypto tokens in terms of their market capitalization.

Ether Euro and Bitcoin Euro futures contracts are to be containing 5 Bitcoin as well as 50 Ether in every contract. The nature of the respective unique contracts will be cash-settled, in line with the CME CF Ether-Euro Reference Rate and CME CF Bitcoin-Euro Reference Rate, which provide Euro-dominated Ether and Bitcoin’s reference rates once a day. The respective futures contracts are to be registered as well as subject to CME’s rules.

Platform Provides Additional Trading Options to the Clients

CME Group noted that the consumers will be able to do futures trading, optimize their portfolios, analyze the data, as well as access the OTC and cash markets. This would reportedly empower market members throughout the world to effectively organize risk as well as grasp new opportunities. CME Group-based exchanges provide a considerably broad list of worldwide benchmark goods in the entirety of the prominent asset classes that are based on metals, agricultural products, energy, foreign exchange, equity indexes, or interest rates.

The firm provides options and futures to be traded via the CME Globex venue. BrokerTec is for the trading of fixed income however the EBS venue is specified for trading with foreign exchanges. Apart from that, it runs CME Clearing (one of the prominent clearing service providers for central counterparty).

Formerly, during the 2nd quarter of this year, the top average regular open interest was recorded by CME Group at up to 106,200 contracts. With this, the average regular volume of the platform reached 57,400 contracts throughout the entirety of the crypto goods.