CME Group, the Chicago Mercantile Exchange, is set to introduce new cryptocurrency options to improve the accuracy and flexibility of managing short-term price risks for Bitcoin and Ether. The new options are subject to regulatory approval and are set to be launched on May 22, with expiries offered every business day from Monday to Friday. These options will offer a range of expiry dates for Bitcoin and Ether futures contracts, supplementing the current monthly and quarterly expiries.
The daily average notional of CME Group’s Bitcoin and Ether futures and options complex surpassed $3bn during Q1 2023, demonstrating the increasing demand for hedging tools. This new suite of cryptocurrency options is expected to cater to the growing need for sophisticated risk management tools for cryptocurrencies and help manage short-term price fluctuations.