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 43% increase
in average daily volume year over year."
"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.
CME-G
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SOURCE CME Group