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Edited by Kahn332 at 22-12-2023 05:04 AM
I won't continuously list products just to observe consumer demand. For now, I will simply watch and see through Bitcoin.
Following its competitor, the Chicago Board Options Exchange (CBOE), CME began offering Bitcoin futures in December last year. It's worth noting that CME's contract size is five times that of CBOE, but both contracts have shown moderate trading volumes since their launch. Duffy responded to this by saying,
While we haven't seen massive volume, that's okay. It's going to take some time, and we will do it the right way.
According to Bloomberg's statistics, CBOE averages 5,881 contracts traded daily this year, while CME only has 3,063 contracts. CME's average daily trading volume for Bitcoin is 15,317 contracts, which is twice that of CBOE.
However, Bitcoin futures are just a small part of CME's business, with the group's second-quarter average daily trading volume reaching 18.4 million contracts.
While CME is cautious about introducing more cryptocurrency contracts, its competitor CBOE has previously indicated a strong desire to expand into derivatives for other cryptocurrencies.
Duffy mentioned that he doesn't want these newer cryptocurrency derivatives to enter the futures contract market, ""because it is still very new, and the prices are highly volatile."" Duffy stated earlier this year that the company would approach futures products for other cryptocurrencies with caution. |
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Post time 8-11-2023 20:43:38