CHICAGO, Jan. 25, 2022 /PRNewswire/ -- CME Group, the world's leading and most diverse derivatives marketplace, today announced that Micro Ether futures volume surpassed 500,000 contracts on January 24.
"The arrival of micro-sized contracts for both Bitcoin and Ether futures in 2021 has taken our cryptocurrency product offering to the next level," said Tim McCourt, CME Group Global Head of Equity Index and Alternative Investment Products. "We're pleased with the early adoption and rapid growth of Micro Ether futures since their launch on December 6. These contracts are providing one more way for both financial institutions and sophisticated, active retail traders to gain exposure to digital assets through our liquid and trusted cryptocurrency derivatives markets."
Additionally, Micro Ether futures reached a new daily volume high of 51,450 contracts on January 24, with open interest of nearly 75,000 contracts.
CME Micro Ether futures are 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 are listed on and subject to the rules of CME.
For more information on this product, please see: www.cmegroup.com/microether.
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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SOURCE CME Group