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On Monday, the Chicago Mercantile Exchange (CME) announced its plans to expand its cryptocurrency product line by introducing daily expirations for futures options contracts on bitcoin (BTC) and ether (ETH). According to a press release issued by the company, this move is aimed at meeting the growing demand from investors for more flexible and responsive trading options in the crypto derivatives market.
Starting from May 22, Bitcoin and Ether futures options contracts will have daily expirations from Mondays to Fridays. In addition to the current expiration dates on Mondays, Wednesdays, and Fridays, contracts based on micro-sized bitcoin and ether futures will also have expirations on Tuesdays and Thursdays. It's worth noting that these daily expirations are offered in addition to the existing monthly and quarterly expiration options.
“Against a backdrop of heightened market volatility in the digital-asset sector, we continue to see clients turn to a trusted, regulated venue like CME Group for reliable and efficient cryptocurrency risk-management products," Giovanni Vicioso, global head of cryptocurrency products at CME Group (CME), said in the release.
According to CME, the daily average volume for its bitcoin and ether futures and options reached a new record high of over $3 billion in the first quarter of this year. To meet the increasing demand for smaller-sized contracts, the company introduced its micro bitcoin futures in May 2020. This move has helped to expand the accessibility of trading in the crypto derivatives market.
Source Coindesk
