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CME Group announces the launch of new options on Ether futures, which is particularly well-timed to provide the crypto community with another essential tool to gain access to and manage exposure to Ether. https://twitter.com/CMEGroup/status/1569449986760536064
"Genesis is proud to consistently provide day-one support of CME Group's ever-expanding suite of crypto derivatives and offer the newest derivatives products to our institutional clients," said Leon Marshall, Global Head of Sales at Genesis
CME Group's Ether Futures
The new options contracts will additionally support CME Group's Ether futures, whose average daily volume has increased by 43% yearly. The product supports a solid infrastructure for trading and clearing, and CME Group is eager to offer liquidity immediately. We anticipate strong demand for this Ether options contract as Ether moves through the anticipated Merge this week. Tim McCourt, Global Head of Equity and FX Products, CME Group, said,
"As market participants anticipate the upcoming Ethereum Merge, a potentially game-changing update of one of the largest cryptocurrency networks, interest in Ether derivatives is surging."
Based on the CME CF Ether-Dollar Reference Rate, which serves as a once-daily reference rate of the U.S. dollar price of Ether, these new contracts deliver one Ether futures, scaled at 50 Ether per contract.
Global Benchmark Products
CME Group exchanges offer the most comprehensive range of global benchmark products across all major asset classes based on interest rates, equity indexes, foreign exchange, energy, agricultural products, and metals. As the world's leading derivatives marketplace, CME Group enables clients to trade futures, options, cash, and OTC markets, optimize portfolios and analyze data. It empowers market participants worldwide to manage risk and capture opportunities efficiently. The business provides trading in futures and options on futures through the CME Globex® platform, trading in fixed income through BrokerTec, and trading in foreign exchange through the EBS platform. Additionally, it runs CME Clearing, one of the world's top central counterparty clearing companies.