CME Micro Ether Futures*
The CME Group announced the addition of CME Micro Ether Futures to its suite of crypto derivatives. It is slated for launch on December 6th, 2021. The newest crypto product will be one-tenth the size of one ether (0.10 ether). Compared to the current ether contract (composite of 50 Ether), this may help investors test the market without the high initial investment.
The newest crypto contract will be financially settled, based on the CME CF Ether-Dollar Reference Rate, which serves as a one-a-day reference rate of the US dollar price of ether. Micro Ether futures will be listed on the CME and subject to their rules.
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|MICRO ETHER FUTURES|
CME Globex: Sunday – Friday 6:00 p.m. – 5:00 p.m. ET (5:00 p.m. – 4:00 p.m. CT) with a 60-minute break each day beginning at 5:00 p.m. ET (4:00 p.m. CT) ClearPort: 6:00 p.m. Sunday to 6:45 p.m. Friday ET (5:00 p.m. – 5:45 p.m. CT) with a 15-minute maintenance window between 6:45 p.m. – 7:00 p.m. ET (5:45 p.m. – 6:00 p.m. CT) Monday – Thursday.
|MINIMUM PRICE FLUCTUATION||
Outrights: $0.50 per ether = $0.05 per contract
CME Globex: MET
Monthly contracts listed for 6 consecutive months and 2 additional Dec contract months. If the 6 consecutive months includes Dec, list only 1 additional Dec contract month.
|TERMINATION OF TRADING||
Trading terminates at 4:00 p.m. London time on the last Friday of the contract month that is either a London or U.S. business day. If the last Friday of the contract month day is not a business day in both London and the U.S., trading terminates on the prior London or U.S. business day.
|INDICATIVE INITIAL MARGIN||
To be determined
* Subject to regulatory review and approval
”“Since the launch of Ether futures in February, we have seen steady growth in liquidity in these contracts, especially among institutional traders,” said Tim McCourt, CME Group’s global head of equity index and alternative investment products. “At the same time, the price of ether has more than doubled since these contracts were introduced, creating demand for a micro-sized contract to make this market even more accessible to a broader range of participants.Tim McCourtCME Group - Head of Equity Index and Alternative Investment Products