International Parivatives’ international CME team announced today that its new XRP contracts are now available for negotiation.
The first trade, a block, took place on Sunday, May 18 and was cleared by Hidden Road.
“We are pleased to see such timely support for the latest future contracts, with more than $ 19 million in a fictitious volume negotiating on the first day,” said Giovanni Vicioso, world -class encryption products at the CME Group. “The addition of the Future Future XRP and Micro XRP contracts to the top, adjustable encryption suite will provide investors with deep liquids, capital efficient tools needed to support increasing encryption investment and counterbalance strategies.”
“We are thrilled to clean the first block trade in CME Group XRP contracts,” said Noel Kimmel, president of Hidden Road and Managing Director of Hidden Road’s Merchant Commission. “This is an important milestone for Hidden Road and ongoing institutional adoption of digital assets-especially in enhancing the capacity of liquidity and risk of XRP.
CME GROUP XRP contracts are available both in microxification (2,500 XRP) and a larger-size contract (50,000 XRP) and are calculated with cash with CME CF XRP-Dollar reference time, which serves as a reference rate of a US Dollar day of XRP and is calculated daily at 4:00.