Chicago Mercantile Exchange has recently announced the launch of a futures contract with Ether. Ether is the world's second-largest cryptocurrency which has been valued by the market. Ether futures shall soon be listed in the coming year by February and more than three years after Bitcoin futures were life. Every contract shall have at least 50 units of ether and there will also be the derivative products that will open the trading. The trade timing shall be from 5 pm to 4 pm CT that is from Sunday till Friday. This has been an official statement that is released. The new contract further will be using the CME CF ether dollar rate of reference from the benchmarks of CF.
CF is an FCA approved indices provider of crypto. To build on the Bitcoin futures and options success, the group of CME will come up with ether future for the risk management solution of d which will be available for the trade-in in February. The futures are considered to be derivative of the financial contacts that make it a compulsion for the parties to sell and even purchasing a certain asset for some quantity with predetermined pricing at a certain date shortly.
The announcement of ether future contract was made by CME which has now been coined with the much-anticipated break of Bitcoin being more than $20000. Bitcoin exchange rolled out future had come up three years ago when the cryptocurrency has reached the price of $19,783. The derivative contracts were also approved by the administration of trump to prick the bubble of the Bitcoin. But after that CME has been steadily climbing the ranks and has become the third-largest Bitcoin future exchange with open interest. There are so many observers who are now considering it to be institutional trading synonymous.