BlockFills to list crypto derivatives products from CME Group

New offering will provide increased margin efficiencies and solve market access issues for institutions and professional traders. 

Digital asset financial services provider BlockFills has announced that it will list CME Group cryptocurrency derivatives products on its trading ecosystems.

The new offering will help institutions hedge against market volatility and looks to combat market access problems for institutions and professional traders – allowing them to benefit from margin efficiencies of trading cryptocurrency derivatives from CME Group alongside spot crypto and other digital instruments.

The offering will also enable BlockFills and CME Group customers to trade crypto derivatives at CME Group all within one account.

“Legacy financial firms, professional traders and market makers have voiced their interest in trading CME Group cryptocurrency futures and options alongside our existing suite of physical crypto products,” said Neil Van Huis, partner and director at BlockFills.

“This listing answers that demand—the time has come in digital assets for a more professional offering that brings the appropriate technology capabilities to institutions in a compliant manner.”

Trading of the new offering is expected to be unveiled via beta for BlockFills customers in the third quarter of this year.

Following that, global institutions and professional traders will be able to utilise the trading offering to deploy their trading strategies and allocate capital to the rapidly growing digital asset sector.

“In the current environment, it’s more important than ever for institutional clients to have access to deeply liquid and regulated cryptocurrency futures and options products like ours to help manage their spot cryptocurrency price risk,” said Tim McCourt, CME Group global head of equity and FX products.

“With the addition of our cryptocurrency derivatives and real-time market data to the BlockFills platform, alongside existing spot crypto products, institutional clients will benefit from increased access to tools that will allow them to efficiently discover prices, transfer risk or optimise their trading strategies.”

The move by BlockFills and CME Group follows increased services being provided by other trading platforms to meet growing institutional interest in digital assets. Bloomberg, OSL Digital Securities and Paxos are among the growing list of institutions responding to institutional interest in cryptocurrencies.

Earlier this week, Bloomberg expanded its coverage of cryptocurrency data on the Bloomberg Terminal to include the top 50 crypto assets including Bitcoin, Binance Coin, XRP and Solana.