Chicago Mercantile Exchange (CME) CEO Says No Other Crypto Futures For Now

Chicago Mercantile Exchange (CME) CEO Terry Duffy revealed in an interview with Bloomberg that they will not introduce futures on cryptocurrencies other than Bitcoin in the foreseeable future.

Duffy emphasized that the company should first evaluate and develop an approach for Bitcoin, stressing that Bitcoin futures might have been the most controversial launch of a product. The CEO reiterated the company’s previous position on launching altcoin futures, having said earlier this year that listing other cryptos would be “a little irresponsible right now.”

CME, the world’s largest exchange operator, started offering Bitcoin futures in December, shortly after rival Chicago exchange Cboe Global Markets Inc. CME’s contract is five times as large as Cboe’s and trading in both contracts have been relatively modest since their introduction.

Cboe has traded 5,881 contracts a day so far in 2018, beating CME’s daily average of 3,063, according to data compiled by Bloomberg. But looked at another way, CME is winning. CME’s daily average works out to 15,317 Bitcoin daily, more than double the amount at Cboe. Bitcoin futures is a sliver of CME’s business. In the second quarter, CME’s total average daily volume was 18.4 million contracts.

Just yesterday, CME reported revenue of $1.06 billion and operating income of $667 million for the second quarter of 2018. Net income was $566 million and diluted earnings per share were $1.66. On an adjusted basis, net income was $591 million and diluted earnings per share were $1.74.

Duffy said:

“With double-digit growth in five of our six asset classes, Q2 2018 was our second best quarter ever in average daily volume, following record performance in the first quarter of 2018.”

Get Free Email Updates!

*Action* Enter Best Email to Get Trending Crypto News & Bitcoin Market Updates

I will never give away, trade or sell your email address. You can unsubscribe at any time.

Bitcoin Exchange Guide News Team
B.E.G. Editorial Team is a gracious group of giving cryptocurrency advocates and blockchain believers who want to ensure we do our part in spreading digital currency awareness and adoption. We are a team of over forty individuals all working as a collective whole to produce around the clock daily news, reviews and insights regarding all major coin updates, token announcements and new releases. Make sure to read our editorial policies and follow us on Twitter, Join us in Telegram. Stay tuned. #bitcoin

[Alert] Use the author's self-conducted information at your own risk, do you own research, never invest more than you are willing to lose.

[Disclosure] The published news and content on BitcoinExchangeGuide should never be used or taken as financial investment advice. Understand trading cryptocurrencies is a very high-risk activity which can result in significant losses. Editorial Policy \\ Investment Disclaimer


Please enter your comment!
Please enter your name here


Live Bitcoin Price & Latest BTC Charts

Today's Latest Crypto News

Bitfinex Offers $400M Reward For Info on 120k BTC Stolen in 2016; Hackers Can Collect Too

On August 2, 2016, Bitfinex experienced one of the biggest crypto heists of all time, as hackers exploited the system, running off with approximately...

Crypto Trading Platform, 2gether, Unable To Refund $1.4M Hack; Offers Its Native Tokens

Spanish cryptocurrency trading app, 2gether announced on Sunday the platform faced a hack on July 31 on its investment coffers losing €1.183 million ($1.4...

Venture Fund to Invest Majority of $100 Million Raised Fund in DeFi Protocols

San Francisco-based venture fund Electric Capital has raised $100 million from university endowments and other non-profits and it will be using this to invest...

Filecoin to Begins its Incentivized Testnet This Week Ahead of Project Launch Next Month

Crypto project Filecoin which proposes to create a peer-to-peer storage system, will begin its incentivized testnet this week. This testnet will allow users to...

Ethereum 2.0 Final Testnet, Medalla, Rolls Out; Is A 2020 Launch Now In Sight?

The Ethereum 2.0 Phase 0 Medalla public testnet finally went live on August 4, 2020 at around 1AM GMT giving hope of a possible...

BitcoinExchangeGuide is a hyper-active daily crypto news portal with care in cultivating the cryptocurrency culture with community contributors who help rewrite the bold future of blockchain finance. Subscribe on Google News, see the mission, authors, editorial links policy, investment disclaimer, privacy policy. Got News? Contact us, we are human too. Note: nothing here is financial advice, do your own research thoroughly.

Start Using Crypto Today