ED&F Man Capital Markets Inc. helps complete first micro-sized Bitcoin and Ether future trades

Published on March 30, 2022 GMT
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ED&F Man Capital Markets Inc. helps complete first micro-sized Bitcoin and Ether future trades

New York, March 30, 2022 – Global brokerage firm ED&F Man Capital Markets Inc. announces that it has assisted one of its clients complete the first micro-sized Bitcoin and Ether options trades.

The trade between LedgerPrime and XBTO, the trusted leader in crypto finance and a client of the firm, was booked at 17:40 EST on Monday 28 March, and was the inaugural trade of CME Group’s options on Micro Bitcoin and Micro Ether futures.

This privately negotiated Ether options block trade is another substantial milestone for the cryptocurrency industry and its interactions with established financial services, and this product will substantially grow the emerging marketplace.

CME Micro Bitcoin and Ether options on futures are cash settled and trade electronically on Globex® and OTC (blocks and EFPs) through ClearPort®. As trades happen on a regulated exchange, all participants can see the same prices and quotes.

Commenting on the trade, Global Chief Executive of ED&F Man Capital Markets Inc., said: “E D & F Man Capital Markets Inc. has been a driving force behind growing the US regulated Bitcoin and Ether futures and options market.

“These smaller, right-sized CME Micro Bitcoin and Ether options on futures contracts are making crypto options trading more accessible to US traders of all sizes and providing greater choice, flexibility and precision in trading.”

Paul Eisma, Head of Trading of XBTO, said: “XBTO actively supports the growth of the onshore crypto derivatives markets. CME Micro Bitcoin options and Micro Ether options gives market-makers greater flexibility for portfolio risk management, and institutional investors additional products for hedging and expressing views.”

Shiliang Tang, Chief Investment Officer at LedgerPrime, said: “LedgerPrime is excited to participate in the inaugural trades of CME Group’s options on Micro Bitcoin and Micro Ether futures, which we expect to unlock broader market participants looking for the precision needed to navigate these highly volatile assets.”