Main meals
- CME Group will provide XRP futures starting from May 19, pending the organizational review.
- The SEC and Ripple settlement request has been rejected, while maintaining a $ 125 million penalty.
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The Chicago Mercantile Exchange (CME), the world’s leading derivative market, XRP FUTERES and Micro XRP futures on Monday, May 19, will launch the aim of expanding organized encryption derivatives to include the fourth largest digital asset by the market.
The contracts will be available for trading on CME Globex and were wiped through CME Clearport, with access to Sunday evening, May 18, for the participants after working hours, as mentioned in CME’s Notice.
Each XRP Futures 50000 XRP contract will be represented, while Micro XRP futures will represent 2500 XRP, both connected on the basis of the CME CF XRP-Dollar reference price. The fees differ according to the type of participants and place.
CME Group confirmed in April that it plans to launch the first XRP Futures contracts, pending organizational approval, after previous leaks in January, which were packed to the driver.
“Attention to XRP and the Basic Professor (XRPL) book has increased steadily with the growth of the institutional network and retail network,” said Giovanni Picoiuu, the global head of cryptocurrencies at CME Group. “We are pleased to launch these new future contracts to provide a set of capital providers to support customer investment strategies.”
XRP products will expand the current CMEPTO derivative collection of CME, which already includes contracts linked to Bitcoin, ETHEREUM and Solana. CME first showed Solana Futures in March.
The trading of Q1 coding derivatives of the company witnessed a daily increase by 141 % year on year to 198,000 contracts, or $ 11.3 billion in theoretical conditions, while the open interest increased by 83 % to 251,000 contracts worth 21.8 billion dollars.
The next offer comes as an efforts to settle a long -term SEC case against Ripple, the company behind XRP, the court.
On Thursday, the American provincial judge, Anjisa Torres, the federal judge who heads the case, denied a joint request from both parties to agree to a settlement that would reduce the civil punishment of Ripple from $ 125 million to $ 50 million.
The procedural inappropriate description of it, Judge Torres explained that the proposal failed to meet the 60th rule, which only allows relief from the final ruling under exceptional circumstances.
The decision preserves the legal challenges of Ripple and cast uncertainty about the Spot XRP ETF approvals, which remain under SEC review.
However, the introduction of CME XRP futures gives institutional investors who regulate exposure to XRP price movements at a time when interest in encryption derivatives grows.
Last month, Coinbase announced the inclusion of future XRP contracts, including standard XRP futures and the future of Nano XRP, to exchange its organized derivatives.
The price of XRP has been relatively stable over the past 24 hours of about $ 2.3 For Coingecko.
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