The prominent derivatives exchange Chicago Mercantile Exchange (CME) Group has announced the addition of daily expiries for Bitcoin (BTC) and Ether (ETH) futures options contracts. Pending regulatory review, the two new additions will have expirations from Monday to Friday.
Bitcoin and Ether daily expirations
According to the official press release, CME Group will offer new expirations for options on Bitcoin and Ether futures, with expirations available every day of the business week starting May 22.
Additionally, micro-sized Bitcoin and Ether futures-based contracts will add Tuesday and Thursday expiries to the existing Monday, Wednesday, and Friday.
The company said that the new offerings will complement the existing monthly and quarterly expiries available on all Bitcoin and Ether options in futures contracts.
Commenting on the expansion of its suite of cryptocurrency options, CME Group Global Head of Cryptocurrency Products Giovanni Vicioso stated:
“We are pleased to offer these new options contracts to provide market participants with greater precision and versatility in managing short-term bitcoin and ether price risk. Against a backdrop of increased market volatility in the digital asset sector, we continue to see clients turn to a trusted and regulated venue like CME Group for reliable and efficient cryptocurrency risk management products.”
CME in 2022 and 2023
Despite the fact that the crypto winter was devastating for many participants, CME witnessed a surge in its crypto derivatives products since November. Its president and CEO, Terrence A. Duffy, recently said that the platform had a notable uptick in trading activity around November and December.
CME Group’s Bitcoin and Ether futures and options complex posted a notional daily average of over $3 billion during the first quarter of 2023. This essentially signaled an increase in client demand for bespoke liquid hedging tools. that the market in general entered a recovery mode.
During the same period, the complex achieved 11,500 contracts and open interest, with a record average of 24,094 Bitcoin futures and options contracts. The latest statistics also revealed that 2,357 Bitcoin options contracts were traded on March 22, while the OI reached 14,700 contracts on March 31.
Additionally, more than 4,600 Ether options contracts have been traded since its introduction last September. It reached another milestone on February 22 when 311 Ether options contracts were traded, in addition to a record OI of 1,800 contracts on March 24.
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This post Hungry for Bitcoin and Ether Trading, CME Group Expands Derivatives Offerings
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