CME Group Announces Launch of Ether Options
CME Group has launched options on Ether futures, coinciding with the expected Ethereum Merge. This strategic move aims to meet the growing interest in Ether derivatives, which have seen a 43% increase in average daily volume year-on-year. Tim McCourt, Global Head of Equity and FX Products, highlighted that these new contracts will provide market participants with essential tools for managing Ether exposure. The options are sized at 50 ether per contract and are based on the CME CF Ether-Dollar Reference Rate.
- Launch of Ether options aligns with increased demand due to Ethereum Merge.
- Ether futures average daily volume up 43% year-over-year.
- Options provide institutional clients with risk management and trading flexibility.
- None.
CHICAGO, Sept. 12, 2022 /PRNewswire/ -- CME Group, the world's leading derivatives marketplace, today announced the launch of options on Ether futures.
"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," said Tim McCourt, Global Head of Equity and FX Products, CME Group. "The launch of our new Ether options contracts is particularly well-timed to provide the crypto community with another important tool to gain access to and manage exposure to ether. Our new options contracts will also complement CME Group's Ether futures which have seen a
"Options are an essential part of the trading strategy deployed by Cumberland's institutional counterparties, whether that's to hedge risk or gain exposure to the asset class without having it on their balance sheets," said Rob Strebel, Head of Relationship Management for DRW. "CME Group has proven trading and clearing infrastructure backing the product and we're excited to provide liquidity on day one. As ether transitions through the anticipated merge this week, we expect we'll continue to see strong demand for this Ether options contract."
"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. "The launch of the new Ether options contract ahead of the highly anticipated Ethereum Merge provides our clients with greater flexibility to trade and hedge their Ether price risk."
These new contracts deliver one Ether futures, sized at 50 ether per contract, and based on the CME CF Ether-Dollar Reference Rate, which serves as a once-a-day reference rate of the U.S. dollar price of ether.
For more information on this product, please visit www.cmegroup.com/ether.
As the world's leading derivatives marketplace, CME Group (www.cmegroup.com) enables clients to trade futures, options, cash and OTC markets, optimize portfolios, and analyze data – empowering market participants worldwide to efficiently manage risk and capture opportunities. CME Group exchanges offer the widest range of global benchmark products across all major asset classes based on interest rates, equity indexes, foreign exchange, energy, agricultural products and metals. The company offers futures and options on futures trading through the CME Globex® platform, fixed income trading via BrokerTec and foreign exchange trading on the EBS platform. In addition, it operates one of the world's leading central counterparty clearing providers, CME Clearing.
CME Group, the Globe logo, CME, Chicago Mercantile Exchange, Globex, and, E-mini are trademarks of Chicago Mercantile Exchange Inc. CBOT and Chicago Board of Trade are trademarks of Board of Trade of the City of Chicago, Inc. NYMEX, New York Mercantile Exchange and ClearPort are trademarks of New York Mercantile Exchange, Inc. COMEX is a trademark of Commodity Exchange, Inc. BrokerTec and EBS are trademarks of BrokerTec Europe LTD and EBS Group LTD, respectively. Dow Jones, Dow Jones Industrial Average, S&P 500 and S&P are service and/or trademarks of Dow Jones Trademark Holdings LLC, Standard & Poor's Financial Services LLC and S&P/Dow Jones Indices LLC, as the case may be, and have been licensed for use by Chicago Mercantile Exchange Inc. All other trademarks are the property of their respective owners.
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SOURCE CME Group
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