CME Group said through a publication, its market statistics for the third quarter and September 2021. The data shows that an average daily volume (ADV) increased 14% to 17.8 million contracts during the third quarter, and rose a 11% to 18.8 million contracts during the month of September. Regarding cryptocurrency, Bitcoin futures saw a 170% increase in average daily volume, to 24,236 contracts during the quarter.
Meanwhile, in September, Micro Bitcoin futures reached an ADV of 21,000 contracts, with more than 2.1 million total contracts since its launch in May. The highest volume of futures was recorded on September 7, with a volume of 15,998 and an open interest of 6,659.
About two and a half years after the launch of the world’s first Bitcoin futures, CME Group brought another level of diversification to cryptocurrency traders with a micro Bitcoin futures contract.
The smaller contract is based on the same underlying benchmark, the Bitcoin CME CF benchmark rate, and is settled in cash. The index was developed in partnership with CF Benchmarks to provide the BTC dollar price in real time. The index references price data using transactions and order book activity from various cryptocurrency exchanges. Currently comprised of Kraken and Bitstamp.
CME Group Data Reports Forex ADV Hit 975,000 Contracts
During September 2021, the total volume of foreign exchange averaged 975,000 contracts per day. Which represented a 3% year-on-year drop of more than a million contracts per day in the previous year. However, on a monthly interval, the latest figure increased 56% from 624,000 contracts per day in August 2021. Additionally, quarterly FX ADV fell 6% compared to 2020.
Delving into the details, metals volumes were lower after losing 40% year-on-year with just 437,000 contracts traded daily. While the rotation of energies increased 14% in relation to last year.
Through CME Group, clients have effective exposure to the Bitcoin market. As well as the ability to save money on possible margin offsets between Bitcoin futures and options on Bitcoin futures. Additionally, clients can also benefit from efficient price discovery in transparent futures markets.
Chicago-based CME said the move marks a new development in the nascent crypto futures market that provides new access to retail investors. Either they are looking to branch out into different markets or have a hard time participating due to limited capitalization.
CME Group is considered the world’s leading financial derivatives market. And it trades in asset classes including agriculture, energy currencies, interest rates, stocks, metals, and cryptocurrency futures.