ED&F Man Capital Markets assists in clearing CME Euro-denominated futures blocks trades

The firm assisted its customers and CME in completing the trades on market open on 28 August.

ED&F Man Capital Markets has cleared the first Euro-denominated Bitcoin and Ethereum futures block trades on CME.

The BTC/EUR and ETH/EUR futures offered by CME Group are cash settled and traded electronically on Globex and OTC for blocks and exchanges for futures for physical (EFPs) through CME Clearport.

ED&F said the launch of the CFTC regulated futures products marked “institutional acceptance” of the cryptocurrency markets, adding that as the trades are taking place on a regulated exchange, all participants can view the same prices and quotes.

“ED&F Man Capital Markets continues to embrace additional regulated Bitcoin and Ethereum futures contracts,” said Brooks Dudley, global head of digital assets at ED&F Man Capital Markets.

“These new CME Euro-denominated BTC and ETH derivatives are an integral step forwards in cross currency risk management for this asset class.” 

The firm assisted its customers and CME with the first of the futures blocks trades on market open, 28 August.

“The listing of CME EUR denominated pairs exemplifies the expanding options for institutions to trade crypto and is a further example of B2C2 supporting the growth of the trading ecosystem,” said Edmond Goh, head of trading at institutional crypto market counterparty B2C2.