CME Group to Launch Options on Bitcoin Futures in Q1 2020
Marie Huillet's original article for cointelegraph.com reduced by 44%
The Chicago Mercantile Exchange Group is adding options to its Bitcoin futures contracts in Q1 2020, pending regulatory review. "Based on increasing client demand and robust growth in our Bitcoin futures markets, we believe the launch of options will provide our clients with additional flexibility to trade and hedge their bitcoin price risk." CME Group's announcement notes that since the launch of Bitcoin futures on the exchange in December 2017, there have been 20 successful futures expiration settlements, with over 3,300 individual accounts trading the product. Year to date, reportedly 7,000 CME Bitcoin futures contracts - equivalent to roughly 35,000 Bitcoin - have traded on average each day, the Group reveals.
For clients hedging or trading benchmark options on futures across diverse asset classes, CME Group notes that it has seen an average daily volume of 4.3 million in 2019 thus far. Elsewhere in the institutional Bitcoin futures space, Bakkt Warehouse - the qualified custodian for crypto trading platform Bakkt - began accepting customer Bitcoin deposits and withdrawals earlier this month. Bakkt intends to launch physically-delivered Bitcoin futures, in contrast to the existing cash-settled Bitcoin futures offered by both CME and the Chicago Board Options Exchange.
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