financemagnates.com
The global derivatives marketplace CME Group plans to expand its cryptocurrency derivatives suite with Bitcoin and Ether futures. Dubbed Micro Bitcoin Euro and Micro Ether Euro futures, the products will be launched on March 18, pending regulatory approval.
Giovanni Vicioso, the Global Head of Cryptocurrency Products at CME Group, mentioned: "The launch of these new Micro Euro-denominated contracts will provide clients with additional products to more efficiently hedge bitcoin and ether exposure in the second-highest traded fiat behind U.S. dollar-based contracts."
"Year-to-date, 24% of Bitcoin and Ether futures volume at CME Group has been transacted from the EMEA region, and we continue to develop additional tools for clients there to hedge their crypto portfolios and express or take a view on potential market moves."