CME: Ether Futures Start Trading at 6:00 P.M. ET for A First Trade Date of Feb. 8

CME Group is on the cusp of launching its long-awaited Ether (ETH) futures product. The derivatives exchange said in a Sunday morning tweet that ETH futures will go at 6 p.m. ET on Sunday "for a first trade date of Feb. 8." 

According to the contract details published on the CME website, a single Ether futures contract has a value of 50 times the value of the Ether-Dollar Reference Rate Index (ETHUSD_RR) and is quoted in US dollars per one Ether. Ether futures can be transacted five days a week, virtually around the clock. Bilateral transactions such as block trades, pursuant to CME Rule 526, and EFRPs (exchange for related position), pursuant to CME Rule 538, may be negotiated/executed 24/7 and must be submitted for clearing during the appropriate clearing session. CME Globex, CME's electronic platform, is available 23 hours per day beginning Sunday evening at 6∶00 p.m. Eastern Time and ending at 5∶00 p.m. ET Friday afternoon.

Also, It indicates that CME will not initially list options but will reassess introducing options once the futures market develops and as customer demand evolves.

by Sara Zhang

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