Key dealers
- CME Group will offer XRP futures from May 19, pending regulatory review.
- SEC and Ripple’s decommissioning request was denied, which maintained a $ 125 million penalty.
The Chicago Mercantile Exchange (CME) group, the world’s leading derivative market, is expected to launch XRP-Futures and Micro XRP-Futures contracts on Monday, May 19, which aims to expand its suite with regulated cryptodes to include the fourth largest digital assets.
The contracts will be available for trading on CME GLOBEX and is cleared through CME Clearport, with access from Sunday evening, May 18, for participants after hours, as mentioned in CME: S notice.
Each XRP future contract will represent 50,000 XRP, while Micro XRP-Futures will represent 2500 XRP, both cash-based based on CME CF XRP-Dollar reference rate. Fees vary depending on participation type and location.
CME group confirmed In April, it plans to launch its first XRP futures agreement, pending legislative approval, following previous leaks in January that suggested during the rollout.
“Interest in XRP and its underlying Ledger (XRPL) has steadily increased as institutional and retail notification of the network grows,” said Giovanni Vicioso, global head of Cryptocurrency products at CME Group, in a statement in April. “We are pleased to launch these new term contracts to provide a capital -efficient tool kit to support customers’ investments and fuse strategies.”
The XRP products will expand CME’s existing crypto -derivative lineup, which already contains contracts bound to Bitcoin, Ethereum and Solana. CME just Debuted Soana Futures In March.
The company’s crypto-derivative trade saw the daily volume climbing 141% from year to 198,000 contracts, or $ 11.3 billion in nominal terms, while open interest rate increased 83% to 251,000 contracts worth $ 21.8 billion.
The upcoming rollout comes as efforts to solve SEC’s long -term cases against Ripple, the company behind XRP, stables in court.
On Thursday, the US district judge Analisa Torres, the federal judge as chairman of the case, is the federal judge, denied a common request Of the two parties to approve a settlement that would have reduced Ripple’s civil penalties from $ 125 million to $ 50 million.
Judge Torres called it wrongly and explained that the proposal failed to satisfy rule 60, which only allows exemption from a final judgment under exceptional circumstances.
The decision keeps Ripple’s legal challenges alive and provides uncertainty about the timeline for Spot XRP ETF approvals, which remain during Sec review.
The introduction of CME XRP -Futures institutional investors that regulates exposure to XRP price movements at a time when the interest in cryptoderivates is still providing.
Last month, Coinbase announced the list of XRP -Future AgreementIncluding standard XRP -futures and nano XRP -futures, on its regulated derivative exchange.
The price of XRP has been relatively stable during the last 24 hours to approximately $ 2.3 for coytecko.
