The Chicago Mercantile Exchange (CME) Group is launching micro-Ether futures giving institutional and individual traders another product by which to access Ether. Micro Ether futures join crypto derivatives products including micro Bitcoin futures, Bitcoin futures, options on Bitcoin futures and Ether futures at the exchange.
The Chicago Mercantile Exchange Group, a major derivatives marketplace, has expanded its cryptocurrency offerings to include a micro-Ether-based futures product, according to Cointelegraph. In Monday's announcement, the CME Group said it has launched a micro Ether (ETH) futures contract sized at 0.1 ETH. This gives institutional and individual traders another product by which to access Ether. The cash-settled micro ETH derivatives offering is trading under the Globex code METZ1 and joins crypto derivatives products at the exchange including micro Bitcoin (BTC) futures, Bitcoin futures, options on Bitcoin futures, and Ether futures. CME Group stated:
“Discover the precision of trading Micro Ether futures (MET), sized at 1/10 of one ether. MET provides another efficient, cost-effective way to manage your exposure to one of largest cryptocurrencies by market capitalization and further optimize your trading strategies. Enjoy the same features of larger Ether futures (ETH) at a fraction of the size and with lower margins, enabling traders of all sizes to manage ether price risk and add diversification.”
The newest member of the CME Group cryptocurrency product family has arrived. Micro Ether futures are available for trading. https://t.co/bJoZWA7qZz— CME Group (@CMEGroup) December 6, 2021
Tim McCourt, CME Group's global head of alternative invеstmеnt products, said the offering wоuld allоw invеstоrs “to hedge their spot Ether price risk or more nimbly execute Ether trading strategies.” Gеnеsis Glоbаl Trading, one of thе liquid providеrs for CME Grоuр's cryрtо derivаtivеs оffеrings, sаid it had alreаdy executеd a contract for the micrо ETН futurеs product in pаrtnershiр with cryрto invеstment firm XBTO.
“The Micro Ether futures contract fills a need for greater flexibility and more precise delta hedging,” said Joshua Lim, Genesis' head of derivatives.
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