- CME Group's BTC and ETH options and futures generated record daily notional of $3B+
- A record 2,357 Bitcoin options contracts were traded on March 22
CME Group, the biggest derivatives marketplace in the world, is expanding its range of cryptocurrency options across its micro and standard-sized Bitcoin and Ether contracts starting on May 22, Bankless Times learned from a press release.
Expiries now available daily, Monday to Friday
When these new contracts are launched, expiries will be available every business day. Options on micro-sized ether and bitcoin futures will add Tuesday and Thursday expiries to the lineup.
The new options will supplement the existing quarterly and monthly expiries available across all ether and bitcoin futures contracts options. Giovanni Vicioso, CME Group Global Head of Cryptocurrency Products, commented:
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 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.
Paul Eisma, Head of Options Trading at XBTO, added:
CME Group continues to innovate and lead in the institutional crypto options on futures market. By completing the short end of the implied volatility surface with the addition of the new Tuesday, Thursday Micro options contracts and weekly standard size contracts, institutional market makers such as XBTO can deliver precise liquidity to market participants of all sizes who trade and hedge cryptocurrency exposures spanning every business day of the upcoming week for the first time.
Throughout the first quarter of the year, CME Group’s options and futures complex in the leading two cryptos generated a record daily average notional exceeding $3 billion, indicating growth in client demand for liquid hedging tools.
Impressive records
A record 2,357 Bitcoin options contracts were traded on March 22. Bitcoin options and futures in the first quarter of 2023 exceeded 11,500 contracts and open interest (OI) achieved a record 24,094 contracts on average.
Since being launched in September last year, over 4,600 Ether options contracts have been traded. The number of ether options contracts peaked at 311 on Feb. 22. There was a record OI of 1,800 contracts on March 24.
