Derivative CME Group (Nasdaq: CME) announced plans to commence XRP contracts on May 19, pending the regulatory review. Market participants will have the option to exchange both micro-magnitude contract (2,500 XRP) and a larger size contract (50,000 XRP).
Giovanni Vicioso, world -class head of encryption products at CME Group, said,
“As innovation in the landscape of the digital asset continues to evolve, market participants are still looking for regulated derivatives to manage the dangers of a wider range of brands.
The CME Group XRP Futures will be cash and will be based on the CME CF XRP-Dollar report, which serves as a reference rate of a US dollar price of the XRP and is calculated daily at 4:00 pm
The XRP Futures will participate in the company’s encryption suite of the company that includes Bitcoin and Ether Futures and Options, as well as recently launched Sol Futures. Q1 Transactions for Cypto Futures and Options for Futures includes:
- Average daily volume of 198,000 contracts ($ 11.3 billion in theoretical) increased by 141% on an annual basis.
- Average open interest of 251,000 contracts ($ 21.8 billion in theoretical) increased by 83% annually.
- In addition, more than 43,000 SOL contracts ($ 705 million in theory) have been negotiated since March 17th.
JB Mackenzie, VP and GM Futures and International at Robinhood, said,
“Attracting future CME Group XRP contracts to RobinHood is a natural next step in our mission to expand retail access to future fulfillment transactions. Our customers have shown a deep interest in digital assets and will soon have access to yet another wider variety ROBINHOD.
Sal Gilbertie, CEO of Teugrium, said,
“XRP has been built for real cases of financial use and today facilitates global values transfers through fast, low -cost XRP Ledger. The Teucrium 2x Daily Long XRP ETF (XXRP) reached $ 35 million in another Miles of AUM. of growth. “
The XRP contracts will be listed and will be subject to the CME rules.
About the CME team
As the world’s top derivative market, the CME Group (www.cmegroup.com) allows customers to exchange future fulfillment contracts, options, cash and OTC, optimize portfolios and analyze data – enhancing market participants worldwide. CME groups exchanges offer the wider range of world reference products in all major categories of interest rates, stock rates, foreign currency, energy, agricultural products and minerals. The company offers future fulfillment contracts and options for future fulfillment contracts through the CME Globex platform, a fixed income transaction through Brokertec and the currency transaction on the EBS platform. In addition, it takes advantage of one of the world’s leading world -wide clearance providers, CME Clearing.