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CME Group Launches Bitcoin Microfutures


The Chicago Mercantile Exchange (CME Group) announced the launch on May 3 of a new product based on the first cryptocurrency – Micro Bitcoin futures, awaiting regulatory approval.

The new futures will make up a tenth of bitcoin. CME believes that the smaller contract will hedge price risks in the spot market and implement trading strategies in the leading cryptocurrency in an “efficient and cost-effective manner.”

CME Managing Director Tim McCourt noted that the demand for Bitcoin futures has been growing since the contracts launched in 2017, especially from institutional traders.

“The introduction of Micro Bitcoin futures is directly responding to customer demand for smaller contracts and will offer more choice and accuracy in regulated crypto derivatives trading,” he said.

Futures will be settled in cash based on the CME CF Bitcoin Reference Rate.

Recall that on January 13, the exchange opened trading in bitcoin options. On February 8, the platform added Ethereum futures, the trading volume of which exceeded $ 30 million on the first day.

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Fidenge Pecold

My profession is a journalist, but my hobby for 8 years has been studying Forex investing and trading. During this time, I managed to gain extensive experience in investing and trading cryptocurrencies and double my capital in the Forex market. To be the author of this magazine, the site owners invited me to participate in one of the 2020 trading webinars, and I will try to reveal the most relevant crypto market news for you.

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