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Chicago Mercantile Exchange (CME) Group, a leading derivative exchange, has released a statement announcing plans to launch options on Ether futures on 12 September while it awaits regulatory review.
New option to offer clients more flexibility
Tim McCourt, Global Head of Equity and FX Products, at CME group stated that the new addition of ETH futures will increase growth and liquidity already seen in the existing Ether futures which has traded over 1.8 million contracts till date
As we approach the highly anticipated Ethereum Merge next month, we continue to see market participants turn to CME Group to manage ether price risk. Our new Ether options will offer a wide array of clients greater flexibility and added precision to manage their ether exposure ahead of market moving events, Said McCourt
Ahead of Ethereum’s merge slated for 15 September, CME group has signed new contracts that will include ETH futures trading options and will also ‘expand CME Group’s existing suite of Cryptocurrency options contracts, which include Bitcoin options, as well as micro-sized Bitcoin and Ether options.’
The Ether futures to launch in September is weighed at 50 ether per contract 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 ETH.
