Derivative Exchange Giant CME Group is introduced to Micro Ethereum Futures - Finance
Derivative Exchange Giant CME Group is introduced to Micro Ethereum Futures - Finance
On Tuesday, the world's largest financial derivative exchange, the Chicago Mercantile Exchange (CME) Group, announced the upcoming introduction of etheric-based micro-futures that are to be noted on December 6th 100,000 micro-bitcoin futures were traded in the first six days after the introduction.
CME brings Micro ther futures to the market with the outstanding official approval
The CME Group announced on Tuesday that the company is planning that on 6th according to the CME announcement, each share will make up a tenth of an ether.
"Micro ether-futures will offer a number of market participants-from institutes to sophisticated, active retailers-an efficient and inexpensive way to secure their spot ether price risk or carry out more ether strategies of agile, while the functions are retained. And advantages of the larger Ether Futures of the CME" in the announcement.
For some time the appointment exchange Bitcoin (btc) and Ethereum (eth) Futures, which make up larger quantities of each crypto assets. With regard to open interests (OI), the Ether Futures of the CME Group make 8.83 % of all derivate exchange oi.
Small contracts make investment products "accessible to a wider group of participants"
Six months ago the CME Group Micro-Bitcoin-Futures and the stock exchange 100,000 Micro-bitcoin futures were traded in the first six days after the introduction. By the end of June, the microphone of the CME Group btc Futures had reached 1 million contracts exchanged.
"Since the introduction of Ether Futures in February in these contracts, we have determined the growth of liquidity, especially at institutional dealers," said Tim McCourt, Global Head of Equity Index and Alternative Investment Products from the CME Group. "At the same time, the price for Ether has more than doubled since the introduction of these contracts, which increases the demand for a contract in microgrenses in order to make this market even more accessible for a broader spectrum of participants," added McCourt.
The board of the CME Group continued:
micro ther futures offer even more selection and precision in transparent, regulated and efficient trade with ether futures at the CME Group.
In November, 2.7 million contracts have been traded with the Micro-Bitcoin futures of the CME Group since May. With regard to Ether Futures, 675,500 Ethereum-Futures-Contracts were handled on CME, which corresponds to about 33.8 million Ethereum (eth) . The CME Group states that it has offered more than 20 micro products and has been handled over 1 billion contracts since its foundation.
After the CME Group announced the micro-futures product, Ethereum (eth) reached a new all-time high (ATH) on Tuesday. Ethereum has a market assessment of around $ 529 billion at the time of writing.
What do you think of the introduction of micro ether futures through the CME Group? Let us know your opinion on this topic in the comments below.
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