Trading options for bitcoin on the Chicago Mercantile exchange (CME) exceeded the volume of options trading on the Bakkt platform for institutional investors on the first day.
During the first day, 55 contracts were traded on the CME. Since each contract is equal to 5 BTC on the Chicago stock exchange, the trading volume was 275 BTC or $2.1 million. On the Bakkt platform since launch
options trading on December 9, options worth just over $1 million were traded.
As CME Group managing Director Tim McCourt said, He is quite satisfied with the volume of trading for the first day. He also stressed that the feedback from market participants was “excellent”.
“In terms of market opportunities, data consumption, all other technical aspects — everything works as intended,” said Tim McCourt.
Options for bitcoin futures contracts were launched on the CME Globex platform at 18: 00 Moscow time on January 13. Contracts are cleared centrally in order to avoid risks incurred by counterparties. CME relies on trade flow data from several major regulated BTC exchanges to accurately track the price of the cryptocurrency.