Micro Bitcoin Futures Surpass 100,000 Contracts Traded
CME Group announced that its new Micro Bitcoin futures surpassed 100,000 contracts traded within the first six days. This strong customer adoption indicates a robust demand for smaller contract sizes, enhancing trading strategies for various clients, from institutions to active traders. At 1/10th of a bitcoin, these cash-settled contracts provide a cost-effective solution for managing bitcoin price risks, while continuing to leverage the CME's established Bitcoin futures.
- Micro Bitcoin futures successfully surpassed 100,000 contracts within the first six days.
- Strong customer adoption signals robust demand for the new contract size.
- The smaller contract size enhances trading strategies for various client types.
- None.
CHICAGO, May 11, 2021 /PRNewswire/ -- CME Group, the world's leading and most diverse derivatives marketplace, today announced that Micro Bitcoin futures volume surpassed 100,000 contracts in the new contract's first six days of trading.
"We are pleased to see strong customer adoption and support for our new Micro Bitcoin futures contract early on," said Tim McCourt, CME Group Global Head of Equity Index and Alternative Investment Products. "Together with our existing, full-sized Bitcoin futures, this new, smaller contract further strengthens our ability to help a broad array of clients – from institutions to sophisticated, active traders – to manage their bitcoin price risk."
At 1/10th of one bitcoin in size, Micro Bitcoin futures provide an efficient, cost-effective way for traders to fine-tune their bitcoin exposure and enhance their trading strategies, all while retaining the benefits of CME Group's existing Bitcoin futures contract.
Micro Bitcoin futures are cash-settled to the CME CF Bitcoin Reference Rate, which serves as a once-a-day reference rate of the U.S. dollar price of bitcoin. Micro Bitcoin futures are listed on and subject to the rules of CME.
For more information on this product, please see www.cmegroup.com/microbitcoin.
As the world's leading and most diverse 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. With a range of pre- and post-trade products and services underpinning the entire lifecycle of a trade, CME Group also offers optimization and reconciliation services through TriOptima, and trade processing services through Traiana.
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, EBS, TriOptima, and Traiana are trademarks of BrokerTec Europe LTD, EBS Group LTD, TriOptima AB, and Traiana, Inc., 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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