The Chicago Mercantile Exchange is preparing to expand its line of cryptocurrency derivatives. A new trading tool may appear later this year
The CME Group of Chicago Group plans to launch Bitcoin options in the near future, The Block reports. The market has already introduced trading tools that allow traders to purchase a digital coin at a set price in the future. However, these options on Bitcoin, as well as CME futures, will be calculated in fiat, and not in the cryptocurrency itself.
The exchange has already begun sending specifications of option contracts to partner companies. Perhaps Bitcoin options from CME Group will be launched before the end of this year.
How exactly the market will perceive the new instrument is still unknown. However, a source familiar with the situation told The Block that none of the existing Bitcoin options can be compared in accessibility to the CME product. In addition, according to him, at the moment there is a large pent-up demand for trading bitcoin options. At one time, high demand for futures accumulated the price of Bitcoin.
On December 17, 2017, the CME launched trading in bitcoin futures, on that day the average market price of the first cryptocurrency reached $ 19,380, although as early as December 11, the coin was trading at $ 15,616. 237 contracts for bitcoin futures, which is 132% more than in the same period last year.
This week it became known that the Binance exchange acquired the crypto-derivative platform JEX. Bitfinex launched derivatives on Bitcoin and Ethereum with leverage up to 100x. The entry of two large exchanges into the derivatives market will enable users to trade in perpetual contracts, futures, options and other derivatives products.