CME Tells Cointelegraph They Consider $2.3M BTC Options Debut a Success
Cointelegraph By Benjamin Pirus's original article for cointelegraph.com reduced by 74%
The Chicago Mercantile Exchange is happy with the results of its Bitcoin options trading product launch on Jan. 13, according to CME Group's managing director and global head of equity index alternative investment products Tim McCourt. First days of new options offering a success"We're very pleased with how day one went," McCourt told Cointelegraph in a Jan.
14 interview. "Each option is on one future, and one future is worth five Bitcoin at CME, so a little over $2 million in terms of notional value, which is great to see," he added. As of the 2:40 EST interview, CME's Bitcoin options had already posted 15 contracts on Globex, CME's "Electronic trading system," McCourt said.
As plannedIn fall 2019, the Chicago-based exchange announced its plans to launch a Bitcoin options trading product early in 2020, based on CME's underlying Bitcoin futures trading product. After receiving the green light from regulators, CME launched its Bitcoin options trading product on Jan. 13, 2020, Cointelegraph reported yesterday.
At the height of crypto's largest bull market in December 2017, CME launched its cash-settled Bitcoin futures trading product as one of the mainstream financial world's first major entries into crypto exposure.
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