CHICAGO, Might 26, 2021 /PRNewswire/ — CME Group, the world’s main and most various derivatives market, introduced that Micro Bitcoin futures quantity surpassed 500,000 contracts on Monday, Might 24.
“We’re happy with the sturdy uptake and help now we have seen for this new contract so early on in its first month,” mentioned Tim McCourt, CME Group World Head of Fairness Index and Various Funding Merchandise. “At one-fiftieth the dimensions of our bigger Bitcoin futures, this new, smaller contract permits merchants of all sizes to raised handle their bitcoin worth danger in an environment friendly, cost-effective means.”
Micro Bitcoin futures are cash-settled to the CME CF Bitcoin Reference Rate, which serves as a once-a-day reference fee of the U.S. greenback worth of bitcoin. Micro Bitcoin futures are listed on and topic to the principles of CME.
For extra data on this product, please see www.cmegroup.com/microbitcoin.
Because the world’s main and most various derivatives market, CME Group (www.cmegroup.com) permits purchasers to commerce futures, choices, money and OTC markets, optimize portfolios, and analyze knowledge – empowering market contributors worldwide to effectively handle danger and seize alternatives. CME Group exchanges provide the widest vary of world benchmark merchandise throughout all main asset lessons primarily based on interest rates, equity indexes, foreign exchange, energy, agricultural products and metals. The corporate gives futures and choices on futures buying and selling by way of the CME Globex® platform, fastened earnings buying and selling by way of BrokerTec and overseas alternate buying and selling on the EBS platform. As well as, it operates one of many world’s main central counterparty clearing suppliers, CME Clearing. With a spread of pre- and post-trade services underpinning the complete lifecycle of a commerce, CME Group additionally gives optimization and reconciliation companies by way of TriOptima, and commerce processing companies by way of Traiana.
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SOURCE CME Group