Published: 03.04.2022
Article reading time:
2 minutes.
The Chicago-based CME Group intends to offer SOL and ADA futures to clients as soon as issues with price indexes and regulation are resolved.
The CEO of the largest North American financial derivatives platform, Payal Shah, at the CryptoCompare Digital Assets Summit in London, said that the company is considering creating futures contracts for altcoins, including Solana (SOL) and Cardano (ADA).
“We monitor the altcoin market and receive requests from clients for something other than bitcoin and ether – including Solana, Cardano,” says the head of the CME Group.
The launch of altcoin futures will depend on the resolution of issues related to price indices and regulation, Payal Shah clarified. According to the head of the trading floor, CME-listed futures for bitcoin and ether depend on indices based on price data from five exchanges:
“For other coins besides bitcoin and ether, we first need an index or the ability to create an index.”
The CME Group CEO insists that a major hurdle the crypto industry is currently facing is the lack of regulatory certainty with altcoins in the United States. “We just need to know where to send the documents,” Shah says, referring to the lack of clarity as to which US regulatory agency will have jurisdiction over altcoin-related instruments.
Chicago-based derivatives exchange CME Group recently announced that it will offer traders the opportunity to trade options on microbitcoin and microether futures contracts. In 2021, the platform launched ETH futures trading. The announcement of the launch of ETH futures took place in mid-December 2020. Recall that in 2017 CME Group opened trading in bitcoin futures.
Source: Bits
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