CME group launches ether options in anticipation of The Merge. On Monday, Tim McCourt, the global head of equity products and foreign exchange products for CME Group, shared the news via a statement.
Chicago Mercantile Exchange (CME has announced plans for ether options.
This move is coming as ether derivatives are surging ahead Ethereum blockchain’s move towards proof-of-stake (dubbed the Merge).
The launch our new Ether Options contracts is especially well-timed to give the crypto community another important tool to gain access and manage exposure to Ethereum,” stated Tim McCourt (CME’s global head equity and foreign currency products).
CME Groups futures average daily volume went up 43%
McCourt said that the new contracts will be added to the group’s ether futures offerings, which McCourt claims grew 43% in average daily volume over the past year.
Options trading is the act of buying or selling an underlying security, in this instance, ether options contracts. It takes place at a pre-agreed strike rate.
One ether future will be delivered by the new contracts. Each contract is 50 ether in size and based on CME’s CF ETher-Dollar Refer Rate. This serves as a once-a day reference rate for the U.S. dollar price per ether.
