CME Group to Launch Spot-Quoted Futures, Providing Innovative New Trading Opportunities for Retail Investors
CME Group has announced the launch of Spot-Quoted futures on June 30, 2025, pending regulatory review. These innovative contracts will allow investors to trade futures positions in spot-market terms across bitcoin, ether, and major U.S. equity indices including S&P 500, Nasdaq-100, Russell 2000, and Dow Jones Industrial Average.
The new smaller-sized contracts feature extended holding periods of up to five years without rolling requirements, making them particularly attractive for retail investors. The products offer capital-efficient trading opportunities with similar features to perpetual contracts, allowing traders to maintain long-term positions or easily trade in and out without frequent position rolling.
Major industry players including Interactive Brokers, NinjaTrader, and Marex have expressed support for the initiative, highlighting the benefits of spot-level trading combined with futures contract margin advantages.
CME Group ha annunciato il lancio dei contratti futures quotati sul mercato spot il 30 giugno 2025, in attesa di revisione normativa. Questi contratti innovativi permetteranno agli investitori di negoziare posizioni futures in termini di mercato spot su bitcoin, ether e principali indici azionari statunitensi, inclusi S&P 500, Nasdaq-100, Russell 2000 e Dow Jones Industrial Average.
I nuovi contratti di dimensioni più piccole presentano periodi di detenzione estesi fino a cinque anni senza requisiti di rollover, rendendoli particolarmente attraenti per gli investitori al dettaglio. I prodotti offrono opportunità di trading efficienti in termini di capitale con caratteristiche simili ai contratti perpetui, consentendo ai trader di mantenere posizioni a lungo termine o di negoziare facilmente senza frequenti rollover delle posizioni.
Principali attori del settore, tra cui Interactive Brokers, NinjaTrader e Marex, hanno espresso supporto per l'iniziativa, evidenziando i vantaggi del trading a livello spot combinato con i vantaggi del margine dei contratti futures.
CME Group ha anunciado el lanzamiento de futuros cotizados al contado el 30 de junio de 2025, sujeto a revisión regulatoria. Estos contratos innovadores permitirán a los inversores negociar posiciones de futuros en términos de mercado al contado en bitcoin, ether e índices de acciones estadounidenses importantes, incluidos el S&P 500, Nasdaq-100, Russell 2000 y el Promedio Industrial Dow Jones.
Los nuevos contratos de menor tamaño cuentan con períodos de tenencia extendidos de hasta cinco años sin requisitos de rollover, lo que los hace particularmente atractivos para los inversores minoristas. Los productos ofrecen oportunidades de trading eficientes en capital con características similares a los contratos perpetuos, permitiendo a los traders mantener posiciones a largo plazo o negociar fácilmente sin frecuentes rollovers de posiciones.
Principales actores de la industria, incluidos Interactive Brokers, NinjaTrader y Marex, han expresado su apoyo a la iniciativa, destacando los beneficios del trading a nivel spot combinado con las ventajas de margen de los contratos de futuros.
CME Group는 2025년 6월 30일 현물 인용 선물의 출시를 발표했으며, 규제 검토를 기다리고 있습니다. 이 혁신적인 계약은 투자자들이 비트코인, 이더, 주요 미국 주식 지수 (S&P 500, 나스닥-100, 러셀 2000, 다우 존스 산업 평균 포함)에서 현물 시장 조건으로 선물 포지션을 거래할 수 있도록 합니다.
새로운 소형 계약은 롤오버 요구 사항 없이 최대 5년의 연장된 보유 기간을 특징으로 하여 소매 투자자들에게 특히 매력적입니다. 이 제품들은 자본 효율적인 거래 기회를 제공하며, 영구 계약과 유사한 기능을 가지고 있어 트레이더가 장기 포지션을 유지하거나 잦은 포지션 롤오버 없이 쉽게 거래할 수 있습니다.
Interactive Brokers, NinjaTrader, Marex 등 주요 업계 선수들이 이 이니셔티브를 지지하며, 선물 계약 마진 이점과 결합된 현물 수준 거래의 이점을 강조했습니다.
CME Group a annoncé le lancement de futures cotés au comptant le 30 juin 2025, sous réserve d'une révision réglementaire. Ces contrats innovants permettront aux investisseurs de négocier des positions de futures en termes de marché au comptant sur bitcoin, ether et principaux indices boursiers américains, y compris le S&P 500, le Nasdaq-100, le Russell 2000 et le Dow Jones Industrial Average.
Les nouveaux contrats de taille réduite présentent des périodes de détention prolongées allant jusqu'à cinq ans sans exigences de rollover, ce qui les rend particulièrement attrayants pour les investisseurs de détail. Les produits offrent des opportunités de trading efficaces en capital avec des caractéristiques similaires à celles des contrats perpétuels, permettant aux traders de maintenir des positions à long terme ou de négocier facilement sans avoir à effectuer fréquemment des rollover de position.
Des acteurs majeurs de l'industrie, notamment Interactive Brokers, NinjaTrader et Marex, ont exprimé leur soutien à l'initiative, soulignant les avantages du trading au niveau spot combinés aux avantages de marge des contrats à terme.
CME Group hat die Einführung von Spot-Quotierten Futures für den 30. Juni 2025 angekündigt, vorbehaltlich der regulatorischen Überprüfung. Diese innovativen Verträge ermöglichen es Investoren, Futures-Positionen zu Marktbedingungen im Spotbereich für Bitcoin, Ether und wichtige US-Aktienindizes wie S&P 500, Nasdaq-100, Russell 2000 und Dow Jones Industrial Average zu handeln.
Die neuen, kleiner dimensionierten Verträge bieten verlängerte Haltefristen von bis zu fünf Jahren ohne Rollanforderungen, was sie besonders attraktiv für Privatanleger macht. Die Produkte bieten kapitaleffiziente Handelsmöglichkeiten mit ähnlichen Merkmalen wie unbefristete Verträge, die es Händlern ermöglichen, langfristige Positionen zu halten oder ohne häufige Positionsrollovers leicht ein- und auszutreten.
Wichtige Akteure der Branche, darunter Interactive Brokers, NinjaTrader und Marex, haben ihre Unterstützung für die Initiative zum Ausdruck gebracht und die Vorteile des Handels auf Spot-Ebene in Verbindung mit den Margin-Vorteilen von Futures-Kontrakten hervorgehoben.
- Introduction of retail-friendly smaller contract sizes
- Extended holding period of up to 5 years without rolling requirements
- Expansion into both crypto and equity index markets
- Enhanced capital efficiency through futures margin benefits
- Strong institutional support from major brokers
- Launch still pending regulatory review
- to only two cryptocurrencies initially
Insights
CME Group's launch of Spot-Quoted futures represents a strategic expansion targeting the growing retail trading segment while bridging traditional futures markets with cryptocurrency and equity index spot pricing. This innovation addresses two key market friction points: the complexity barrier for retail traders and the operational burden of contract rollovers.
The product design is particularly clever - by quoting prices in familiar spot terms while maintaining the capital efficiency of futures contracts through smaller sizing, CME creates an onramp for retail traders who previously found futures contracts intimidating or capital-intensive. The five-year duration without rolling eliminates a significant operational headache that institutional traders handle routinely but retail traders find cumbersome.
From a competitive standpoint, this positions CME to capture market share from both crypto-native exchanges and equity brokerages by offering a regulated alternative with margin benefits. The strategic partnerships with Interactive Brokers, NinjaTrader, and Marex ensure distribution channels are ready at launch.
This product notably expands CME's addressable market at a time when retail participation has remained elevated post-pandemic. While the revenue impact won't be immediate, the long-term potential is significant as they're essentially creating a new derivative category that blends characteristics of perpetual futures (popular in crypto markets) with traditional futures contracts.
CME's Spot-Quoted futures represent a significant development for retail traders seeking efficient crypto and equity index exposure. By designing contracts that trade at spot prices rather than futures premiums, CME eliminates one of the most confusing aspects of futures for non-professional traders.
The elimination of frequent contract rollovers addresses a major pain point for long-term retail investors. Traditional futures require quarterly rollovers, which incur transaction costs and create tax complications. The five-year duration effectively transforms these into more user-friendly instruments resembling ETFs but with the leverage and capital efficiency of futures.
For cryptocurrency traders, these products offer regulatory certainty and eliminated counterparty risk through CME Clearing - addressing concerns that have plagued unregulated crypto platforms. For equity index traders, the smaller contract sizes reduce the capital barrier to entry while maintaining the tax advantages futures offer.
The involvement of retail-focused brokers like Interactive Brokers and trading platform NinjaTrader signals strong distribution channels into the retail segment. This product effectively democratizes access to sophisticated trading instruments previously utilized primarily by professionals, while the familiar spot pricing makes the learning curve less steep.
- Smaller-sized, longer-dated contracts will create new trading opportunities across the leading cryptocurrency and equity index markets
Spot-Quoted futures will allow investors to trade futures positions in spot-market terms (i.e., the price quoted on screen on financial media and investment sites). Contracts will be available for the two leading cryptocurrencies, bitcoin and ether, as well as across the four major
"Market participants will now be able to trade benchmark cryptocurrency and equity index futures at spot prices, making these instruments more accessible and easier to use than ever before," said Tim McCourt, Global Head of Equities, FX and Alternative Products at CME Group. "In response to growing retail demand for smaller-sized, longer-duration products, these capital-efficient contracts – designed with similar features of perpetual contracts – will provide greater precision and market accessibility to clients. Spot-Quoted futures will provide retail traders more flexibility by allowing them to either maintain the position in accordance with their longer-term view, or to more easily trade in and out of positions, without having to roll positions frequently."
"CME Group continues to deliver products that meet the evolving needs of active traders," said Steve Sanders, EVP of Marketing and Product Development at Interactive Brokers. "With Spot-Quoted futures, investors can trade directly at the spot level while gaining the capital efficiency and margin benefits of a futures contract. It is a smart solution for traders looking to optimize both execution and cost."
"The introduction of Spot-Quoted futures is another example of innovation by CME Group in bringing futures to active traders," said Martin Franchi, CEO of NinjaTrader. "The smaller size and longer-dated nature of these new products will allow investors to gain access to the leading cryptocurrencies and equity index markets in a capital-efficient way. We look forward to continuing to work with CME Group to provide our clients with access to these new products."
"The launch of these new contracts further diversifies our product offering to best serve our clients' needs," said Thomas Texier, Head of Clearing at Marex. "At Marex we are always excited to be part of innovation and support the development of new products where there is demand. This is an exciting step for CME Group, and Marex is pleased to be clearing these Spot-Quoted futures for our clients at launch."
Spot-Quoted futures are listed on and subject to the rules of CME and CBOT. For more information on these products, please visit: www.cmegroup.com/spotquoted.
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
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SOURCE CME Group
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