CME or Chicago Mercantile Exchange, an American global markets company, might be looking into offering Solana and Cardano futures contracts in the near future.
CME adding (SOL) and (ADA) futures
Payal Shah, the director of equity and cryptocurrency products at CME, confirmed that the firm is “looking into” providing futures contracts shortly at the CryptoCompare Digital Asset Summit which occurred in London.
“We’re looking at it,” said Shah in her statement at the CryptoCompare Digital Asset Summit. “We get a number of client requests for anything outside the top two—Solana, Cardano.”
It is important to note that these “altcoins” have made their way into the top 10 cryptocurrencies in the market and their popularity is no lesser than that of the world’s top two cryptocurrencies, Bitcoin and Ethereum. Hence, it is natural that customers demand SOL and ADA-based futures from CME.
On the other hand, Shah also pointed out that CME has two things that need to be figured out before releasing the SOL and ADA futures. Firstly, she said that “we need to know where to send the paperwork,” citing regulatory issues, and secondly, she also explained that the futures contracts of CME rely on the data of 5 different exchanges so that outage of one doesn’t affect the futures contract’s prices.
Current offerings
Cryptonary has previously pointed out that CME has been involving itself with a number of crypto-based products. The exchange launched micro Ether futures on December 6 where the contract size will be much smaller, allowing for more precise trading.
Moreover, it is also important to note that the exchange also confirmed the launch of micro Bitcoin futures in May last year. This micro future from CME aimed to cover 1/10th the price of 1 BTC.
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Anisha Pandey
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