International derivatives marketplace CME Group today announced that Micro Ether futures volume surpassed 100,000 contracts in the new contract’s first two weeks of trading.
“Participation in our Micro Ether futures contract has grown rapidly since its launch two weeks ago, and we are encouraged by the strong customer adoption and support thus far,” said Tim McCourt, CME Group Global Head of Equity Index and Alternative Investment Products. “At 1/500th the size or our larger Ether futures, this new, smaller contract allows traders of all sizes to better manage their Ether price risk in an efficient, cost-effective way.”
CME Micro Ether futures are cash-settled, 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. Micro Ether futures are listed on and subject to the rules of CME.
As FX News Group has reported, CME launched Micro Ether futures on December 6, 2021, further expanding its suite of cryptocurrency derivatives offerings. Sized at one-tenth of one Ether, Micro Ether futures provide an efficient, cost-effective way for a range of market participants – from institutions to sophisticated, active, individual traders – to hedge their spot Ether price risk or more nimbly execute Ether trading strategies, all while retaining the features and benefits of CME Group’s larger-sized Ether futures.