CME Group to Expand Bitcoin and Ether Options Expiries on May 22
CME Group, a leading derivatives marketplace, announced an expansion of its cryptocurrency options, adding new expiries for Bitcoin and Ether contracts starting May 22, 2023, pending regulatory review. This move aims to enhance market participants' ability to manage short-term price risks amid ongoing market volatility. New contracts will be offered for both standard and micro-sized options with Monday through Friday expiry options. The initiative responds to an increased demand for liquid hedging tools, as evidenced by a record daily average notional of over $3 billion in Q1 2023 for Bitcoin and Ether futures and options. Additionally, trading highlights include exceeding 11,500 contracts in Bitcoin futures and options and achieving record open interest levels.
- Expansion of cryptocurrency options increases trading flexibility for clients.
- New daily expirations enhance risk management options for market participants.
- Record daily average notional of over $3 billion for Bitcoin and Ether futures and options in Q1 2023.
- Increased trading volumes and open interest reflect strong client demand.
- None.
CHICAGO, April 17, 2023 /PRNewswire/ -- CME Group, the world's leading derivatives marketplace, today announced plans to expand its suite of cryptocurrency options across its standard- and micro-sized Bitcoin and Ether contracts beginning on May 22, pending regulatory review. With these new contracts, expiries will be available every day of the business week, Monday through Friday.
"We are pleased to offer these new options contracts to provide market participants with greater precision and versatility in managing short-term bitcoin and ether price risk," said Giovanni Vicioso, CME Group Global Head of Cryptocurrency Products. "Against a backdrop of heightened market volatility in the digital asset sector, we continue to see clients turn to a trusted, regulated venue like CME Group for reliable and efficient cryptocurrency risk management products."
New expiries for options on Bitcoin and Ether futures will be offered with Monday, Tuesday, Wednesday, Thursday, and Friday expirations. Options on micro-sized Bitcoin and Ether futures will add Tuesday and Thursday expiries to their existing Monday, Wednesday and Friday contracts. All of these new offerings will complement the existing monthly and quarterly expiries available across all Bitcoin and Ether options on futures contracts.
"CME Group continues to innovate and lead in the institutional crypto options on futures market," said Paul Eisma, Head of Options Trading at XBTO. "By completing the short end of the implied volatility surface with the addition of the new Tuesday, Thursday Micro options contracts and weekly standard size contracts, institutional market makers such as XBTO can deliver precise liquidity to market participants of all sizes who trade and hedge cryptocurrency exposures spanning every business day of the upcoming week for the first time."
Through Q1 2023, CME Group's Bitcoin and Ether futures and options complex has achieved a record daily average notional of more than
- Bitcoin futures and options Q1 2023 ADV exceeded 11,500 contracts and open interest (OI) averaged a record 24,094 contracts.
- A record 2,357 Bitcoin options contracts were traded on March 22, and OI reached a record 14,700 contracts on March 31.
- More than 4,600 Ether options contracts have traded since their September 2022 launch. A record 311 Ether options contracts traded on Feb. 22, and a record OI of 1,800 contracts was reached on March 24.
For more information on cryptocurrency options, please visit: www.cmegroup.com/cryptooptionsfaq.
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. The S&P 500 Index is a product of S&P Dow Jones Indices LLC ("S&P DJI"). "S&P®", "S&P 500®", "SPY®", "SPX®", US 500 and The 500 are trademarks of Standard & Poor's Financial Services LLC; Dow Jones®, DJIA® and Dow Jones Industrial Average are service and/or trademarks of Dow Jones Trademark Holdings LLC. These trademarks have been licensed for use by Chicago Mercantile Exchange Inc. Futures contracts based on the S&P 500 Index are not sponsored, endorsed, marketed, or promoted by S&P DJI, and S&P DJI makes no representation regarding the advisability of investing in such products. All other trademarks are the property of their respective owners.
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SOURCE CME Group
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