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- CME Group plans to make its debut on XRP term contracts on May 19, awaiting regulatory examination.
- The term contracts will be brought together and will expand the offers of CME cryptographic products alongside future Bitcoin and Ether.
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CME Group announced today that it will launch XRP Futures on May 19, awaiting regulatory review. The derivative market will offer both micro-dimensioned contracts of 2,500 XRP and larger contracts of 50,000 XRP.
The announcement seems to corroborate an earlier leak in the exchange of the exchange of the exchange, which mentioned a launch of February 10 of XRP and Solana Futures. CME then said that the information was incorrect and that no official plan had been confirmed.
The new term contracts will be contracted in cash according to the reference rate CF CF XRP-Dollar, calculated daily at 4:00 p.m. London time.
“While innovation in the landscape of digital assets continues to evolve, market players continue to turn to regulated derivative products to manage risks in a wider range of tokens,” said Giovanni Vicioso, global manager of cryptocurrency products at CME Group.
The addition of XRP Futures extends Crypto Product Suite of CME, which includes future Bitcoin and Ether options, as well as recently launched future soil.
CME Group indicated that in the first quarter, the average daily volume in term contracts and cryptographic options reached 198,000 contracts – equivalent to $ 11.3 billion in notional value – representing an increase of 141% of one year over the other. The average open interests reached 251,000 contracts, up 83% compared to the same quarter of last year.
“Bringing the term contracts to CME Group XRP to Robinhood is a next natural step in our mission aimed at extending access to retail to term trading,” JB Mackenzie, vice-president and general manager of Futures and International said in Robinhood.
“XRP has been specially designed for real cases of financial use and today facilitates transfers of global value via the large, fast and low cost Book,” said Sal Gilbertie, CEO of Teucrium. The company’s 2x ETF XRP of the company reached $ 35 million in assets under management during its first 10 days of negotiation.
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