CHICAGO, May 26, 2021 /PRNewswire/ -- CME Group, the
world's leading and most diverse derivatives marketplace, announced
that Micro Bitcoin futures volume surpassed 500,000 contracts
on Monday, May 24.
"We are pleased with the strong uptake and support we have seen
for this new contract so early on in its first month," said
Tim McCourt, CME Group Global Head
of Equity Index and Alternative Investment Products. "At
one-fiftieth the size of our larger Bitcoin futures, this new,
smaller contract allows traders of all sizes to better manage their
bitcoin price risk in an efficient, cost-effective way."
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.
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SOURCE CME Group