CHICAGO, May 3 (Xinhua) -- CME Group, the world's leading and most diverse derivatives marketplace, on Monday launched Micro Bitcoin futures in an effort to further expand its suite of crypto derivatives offerings.
CME Micro Bitcoin futures are cash-settled, based on the CME CF Bitcoin Reference Rate, which serves as a once-a-day reference rate of the U.S. dollar price of bitcoin. Micro Bitcoin futures are listed on and subject to the rules of CME, according to a news release from CME Group on Monday.
"Cryptocurrency has never been more popular than it is today, and we are really happy to support the launch of the Micro Bitcoin futures contract," said Steven Sanders, Executive Vice President, Marketing and Product Development at Interactive Brokers. "This smaller sized contract will enable more of our sophisticated, individual clients to participate in the market, and will allow our institutional clients to more precisely manage their bitcoin exposure."
"The launch of Micro Bitcoin futures addresses two of the biggest issues when it comes to investing in cryptocurrency, namely the high cost and the desire to engage within a regulated environment," said J.B. Mackenzie, Managing Director at TD Ameritrade Futures and Forex, LLC. "The demand from self-directed active traders for offerings such as this is high, and we're pleased to add Micro Bitcoin futures to the lineup of futures products available at TD Ameritrade."
As the world's leading and most diverse derivatives marketplace, CME Group enables clients to trade futures, options, cash and OTC markets, optimize portfolios, and analyze data, thus empowering market participants worldwide to efficiently manage risk and capture opportunities. Enditem