The Chicago Mercantile Exchange (CME) has reported that its CME CF Bitcoin Reference Rate (BRR) and CME CF Bitcoin Real Time Index (BRTI) were both up 7 percent at $16,050 and $16,800, respectively, as at Friday, December 14, 2017, compared to the previous day. The BRR is a once-a-day reference rate of the U.S. dollar price of bitcoin, which aggregates the trade flow of major bitcoin spot exchanges during a given trading session in U.S. dollars. The BRTI aggregates the trade flow of major bitcoin spot exchanges during a given trading session in U.S. dollars and compares it to the price of
More than 100,000 micro-bitcoin futures contracts were traded on the CME in the first six days after its launch, the exchange said. According to CME’s head of global equity indices, this new smaller contract, along with full-size bitcoin futures, strengthens the exchange’s ability to support a wide range of clients.
- CME Group, the world’s largest financial derivatives exchange, said Tuesday that more than 100,000 microbitcoin futures were traded on its platform in the first six days after launch. The CME is a US registered special contract market (DCM) and derivatives clearing organization (DCO) overseen by the Commodity Futures Trading Commission (CFTC).
- The second one. In May, the exchange launched micro-bitcoin futures (MBT), which it claims is 1/50th the size of a bitcoin futures contract (i.e. 1/10th of a bitcoin versus five bitcoins for bitcoin futures (BTC)).
- The launch of the micro-bitcoin futures contract is intended to make our market more accessible to risk managers and other traders, CME said.
- In the first week, the average daily volume was 16,112 contracts and the average daily open interest was 3,192 contracts, the exchange said. In addition, 36% of total trading volume came from outside the United States, and more than 50% of trading volume took place during trading hours outside the U.S.
Volume and open interest CME Micro Bitcoin Futures. Source: GCE
- Tim McCourt, global head of equity indices and alternative investment products at CME, said:
Along with our full-size bitcoin futures contracts, this new smaller contract strengthens our ability to help a wide range of clients, from institutions to sophisticated active traders, manage bitcoin price risk.
What do you think of the popularity of micro bitcoin futures on the CME? Let us know your comments in the section below.
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