CME Group is set to expand its current suite of regulated cryptocurrency derivatives with the addition of Avalanche (AVAX) and SUI futures.
Giovanni Vicioso
As part of the new offering, which is set to go live on 4 May pending regulatory review, market participants will be able to choose between trading micro-sized and larger-sized contracts.
Specifically, the contracts will span AVAX futures (5,000 AVAX), micro AVAX futures (500 AVAX), SUI futures (50,000 SUI) and micro SUI futures (5,000 SUI).
“Our new micro- and larger-sized Avalanche and SUI futures will provide clients with greater choice, enhanced flexibility and more capital efficiencies across our deeply liquid, regulated Crypto derivatives complex,” said Giovanni Vicioso, CME Group’s global head of cryptocurrency products.
“We continue to see strong volumes as market participants turn to our markets to manage risk and pursue opportunities.”
The new contracts are set to complement CME Group’s existing cryptocurrency derivatives offerings, which include the recently launched Cardano, Chainlink and Stellar futures contracts.
”With sustained and increasing interest in digital assets, we welcome the continued rollout of additional derivatives tailored to high-growth crypto assets,” said Isaac Cahana, chief executive of Plus500US.
“These new contracts further broaden access for our global customers, allowing them to participate in evolving markets with greater flexibility and improved capital efficiency.”
The expanded offering also aligns with further developments for CME Group, which are set to come into play in the coming months.
Specifically, the firm will expand its cryptocurrency futures and options offering to run on a 24/7 trading schedule, effective 29 May.