Leading Derivatives Market, Chicago Mercantile Exchange [CME] took their interest in Ethereum seriously, as they announced they were expanding their crypto derivative offerings to include Micro Ether futures.
According to an official statement by the derivatives provider, this series will launch on 6th December. Micro Ether futures are valued at one tenth of an Ether according to CME and will provide an efficient and profitable medium for users.
Tim McCourt, CME Group Global Head of Equity Index and Alternative Investment Products noted,
“Since the launch of Ether futures in February, we have seen steady growth in the liquidity of these contracts, especially among institutional traders.”
He added,
“At the same time, the price of ether has more than doubled since these contracts were introduced, creating demand for a micro-sized contract to make this market even more accessible to a broader range of participants. Micro Ether Futures will provide even more choice and precision in how they trade Ether Futures in a transparent, regulated and efficient manner within the CME Group. “
This Micro Ether futures offering will be joining CME’s list of other crypto derivatives including Micro Bitcoin futures. According to the platform, more than 27 million contracts have been traded for Micro Bitcoin futures since its launch in May. Meanwhile, over 675,500 Ether [equivalent to 33. million ether] futures contracts have traded.
It should be noted that these Micro Ether futures are cash settled and use CF Benchmarks.
