CME Group Won't Launch BTC Deliverable Futures

Since the launch of bitcoin futures, CME has attracted more than 3,300 individual investors, processed 7000 contracts for 35k BTC totally
02 October 2019   185

Confirming its intention to launch options on bitcoin, the Chicago Mercantile Exchange (CME Group) noted that it would not follow the path of a competitor in the form of the Bakkt platform and would refuse to trade in deliverable futures. The director of alternative investment products CME Group Tim McCourt said this in an interview with Markets Media.

Since we launched bitcoin futures in December 2017, the number one demand from customers has been for options on our futures.
 

Tim McCourt

Global head of equity index and alternative investment products, CME Group

CME Group conducts calculations on bitcoin futures in fiat, and the company will follow the same approach with respect to options. As McCourt noted, guided by the needs of customers when developing new products, the company does not plan to launch supply contracts for bitcoin.

Since the launch of bitcoin futures, CME has attracted more than 3,300 individual investors. This year, on average, the company processed about 7 thousand contracts for a total of 35,000 BTC.

The institutional interest in bitcoin is growing but they need time to become familiar with the market and get approval to use new products.
 

Tim McCourt

Global head of equity index and alternative investment products, CME Group

Also, according to McCourt, new options can use existing technology, an application matching engine and clearing mechanisms. Currently, the exchange is conducting standard instrument testing procedures.

Binance Futures to Report on Month's Success

For example, On October, the 24h trading volumed reached 69 158 BTC (more than $500k)
16 October 2019   76

The crypto-derivative platform Binance Futures reported on the progress achieved in a month.

The blog of the largest Bitcoin exchange Binance says that during the first day the volume of trading on its unit was 19 253 BTC. Just 10 days later, this figure grew almost 4 times and reached a record 74,647 BTC. Thus, the turnover on Binance Futures quickly exceeded the trading volume in the BTC / USDT spot pair on Binance.com.

On October 8, Binance Futures became the fourth largest crypto derivative platform.

As of October 14, the daily turnover of this platform amounted to 69,158 BTC (> $ 500 million), which is comparable to the real trading volume on the 10 largest exchanges according to Bitwise. At the same time, the total daily trading volume on the regulated exchanges CME and Bakkt now amounts to only $ 84 million.

Many futures traders are also using our industry-leading spot market for hedging or conducting arbitrage trades. We have seen increased activities from these traders transferring in and out from spot to futures during volatile periods. The liquid and ease to use spot market, as well as the simple process to transfer capital between spot and futures, provides our customers with the most efficient manner to trade both markets. 
 

Binance Team

Also, according to them, the derivative exchange's matching engine is capable of processing 100 thousand orders per second.