One of the largest derivatives exchanges in the US due to the growing interest in Ethereum will offer a new derivative instrument.
The American trading platform CME Group announced that it is launching Ethereum options. Tim McCourt, Head of Global Stocks and FX Products at CME Group, said the need for the new tool is driven by growing demand and audience interest in Ethereum amid the launch of The Merge’s major update.
“As market participants look forward to the upcoming merger and potentially game-changing revamp of one of the largest cryptocurrency networks, interest in Ethereum derivatives is growing,” McCourt explained.
The platform representative added that the launch of new option contracts on the air is very relevant. In his opinion, the options will provide the crypto community with another effective financial tool for gaining access to the ether and managing it.
McCourt added that the new option contracts could complement the previously launched Ethereum futures by CME Group. Rob Strebel, CME Group Head of Public Relations, noted that options are an integral part of the trading strategy used by the exchange’s institutional counterparties to hedge risk or gain access to assets without a physical acquisition:
“CME Group has a proven trading and clearing infrastructure that supports the product and we are ready to provide liquidity on the first day after the merger.”
The head of the department added that the exchange expects strong demand for options contracts this week. The cost of one contract will be 50 ETH.
In August, CME Group announced that it would launch bitcoin and ether futures in euros.
Source: Bits
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