CME (Chicago Mercantile Exchange) is contemplating the release of Cardano (ADA) and Solana (SOL) futures, a few days after the declaration of Micro-Sized Bitcoin and Ether Options.
Solana, as well as Cardano futures, come to the front
On Wednesday, while expressing her point of view at the CryptoCompare Digital Asset Summit, Payal Shah – the director of the crypto as well as equity products under CME – mentioned having had been pursuing more than just Ethereum and Bitcoin as the consumers’ demand scale was elevating in case of Solana as well as Cardano-based futures. She added that they are seeking the respective step as many consumers have requested to incorporate something other than the existing couple of crypto tokens such as Solana as well as Cardano.
Shah – along with whom a panel of prominent organizational market members was present – revealed that some particular hindrances are being undergone by them in introducing the altcoin futures. Initially, she pointed toward Ethereum and Bitcoin futures the settlement of which was done over an Index. In this way, five crypto exchanges had been taken as partners by CME, and the platform acquired the potential to provide real-time price estimates to settle on an accurate price for Ethereum and Bitcoin futures.
Hence, she specified, there was a requirement to construct a short index related to the other cryptocurrencies. Apart from this, she disclosed that the CME was especially apprehensive regarding the regulatory uncertainty in the case of cryptocurrencies, particularly altcoins, thus needed to organize some additional due diligence. In her words, they require knowing where to deliver the paperwork.
Shah further asked whether they ought to send the paperwork to CFTC, SEC, to require regulatory clarity? In the previous year, the Chicago-based company denied the assertions of introducing Dogecoin futures following a Twitter post shared by FirstSquawk (an outlet for financial news) based on the publication of the deceptive statement. Shah stressed that at a time when the entirety of the blocks was eliminated, they were headed toward issuing unique crypto products after confirming that their consumers demand them.
As per her, the pace with which they are incorporating the latest products will keep on throughout the current as well as the coming year. In 2017, Bitcoin futures were launched by CME in advance of issuing BTC options. In February of the previous year, the company introduced Ether futures in advance of Ether and Bitcoin-related micro futures in May as well as December.