Micro Bitcoin

Cryptocurrency

Bitcoin

Steve

<ul>
 <li>CME's new Bitcoin Friday futures (BFF) offer weekly expiry and smaller contract sizes for precise Bitcoin exposure management.</li>  
 <li>BFF contracts, settling against the BRRNY, aim to improve liquidity and efficiency, attracting institutional and retail traders.</li>  
 <li>With record volumes in Bitcoin futures, CME's BFF innovation enhances trading flexibility, despite competition from Coinbase Derivatives.</li> 
</ul>  
The CME Group has said that subject to regulatory permission, it will <a href="https://www.prnewswire.com/news-releases/cme-group-to-launch-bitcoin-friday-futures-on-september-30-302231371.html" target="_blank" rel="noopener noreferrer nofollow">launch</a> Bitcoin Friday futures (BFF) on September 30th, therefore broadening its range of Bitcoin derivatives offers. A contract size for these new weeklies will be 1/50 of a Bitcoin and will be financially <a href="https://www.cmegroup.com/markets/cryptocurrencies/cme-cf-cryptocurrency-benchmarks.html" target="_blank" rel="noopener noreferrer nofollow">settled</a> to the firm's CME CF Bitcoin Reference Rate New York Variant. Finalization of contracts takes place every Friday at 4:00 p.m. New York Time while new contracts will be listed every Thursday at 6:00 p.m.  
<h3 class="wp-block-heading" id="h-benefits-for-institutional-and-retail-traders">Benefits for Institutional and Retail Traders</h3>  
Giving traders a more precise tool to manage their exposure to Bitcoin is the aim of this invention. Market players can exchange contracts for the next two Fridays at any time.  
As a result, these contracts are made to closely track the current <a href="https://coinmarketcap.com/currencies/bitcoin/" target="_blank" rel="noopener noreferrer nofollow">Bitcoin spot price</a> and lessen the effects of weekly price swings. Consequently, this could appeal to both institutional and sophisticated retail traders.  
Giovanni Vicioso, CME Group’s Global Head of Cryptocurrency Products, emphasized that the weekly expiry and smaller contract size will enable investors to fine-tune their Bitcoin positions more effectively.  
Furthermore, by settling against the BRRNY, which is also used by major Bitcoin ETFs, traders can benefit from increased liquidity and enhanced market efficiency during U.S. trading hours.  
<h3 class="wp-block-heading" id="h-positive-industry-reactions-and-market-impact">Positive Industry Reactions and Market Impact</h3>  
Industry reactions to the BFF contracts have been positive. Steve Sanders, EVP at Interactive Brokers, highlighted that these futures provide a cost-effective method for managing Bitcoin exposure. Similarly, Elad Even-Chen, Group CFO of Plus500, noted that the contracts cater to a broad range of investors, offering a fresh approach to <a href="https://cryptonewsland.com/goldman-sachs-labels-market-dip-a/" target="_blank" rel="noopener noreferrer nofollow">cryptocurrency portfolio management</a>.  
This new offering will join CME Group’s existing suite of Bitcoin futures, which have already seen record volumes in 2024. With 27,900 contracts of open interest, the average daily trading for Bitcoin futures has reached 14,554 contracts. Furthermore, <a href="https://cryptonewsland.com/cme-groups-micro-btc-micro-eth-futures-now-live/" target="_blank" rel="noopener noreferrer nofollow">Micro Bitcoin futures</a> have performed well, averaging 37,000 contracts per day with 28,000 contracts accessible for trade.&nbsp; 
The post <a href="https://cryptonewsland.com/cme-group-launches-bitcoin-friday-futures-for-enhanced-trading-flexibility/" rel="noopener noreferrer nofollow">CME Group Launches Bitcoin Friday Futures for Enhanced Trading Flexibility</a> appeared first on <a href="https://cryptonewsland.com" rel="noopener noreferrer nofollow">Crypto News Land</a>.

CME Group Launches Bitcoin Friday Futures for Enhanced Trading Flexibility

Table of Contents

Crypto News Land

Other articles published on Aug 28, 2024

What is Story Protocol?

Donaldson Company Reports Q4 with $0.94 EPS, $935M in Revenue

Altcoins Flash “Sell Your House” Buy Signal As Bitcoin Slips Below $60k

Bitcoin Spot ETF 8-Day Inflow Streak Ends, Loses $127.1 Million Amid Crypto Market Crash!

Cypher Capital Invests in $20M Series A for Space and Time

Crypto is down, but FET and AI tokens are up — Here’s why

Join our free newsletter for daily crypto updates!