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SUBJECT: Initial Listing of the Micro Ether Futures Contract
Effective Sunday, December 5, 2021, for trade date Monday, December 6, 2021, and pending all relevant CFTC regulatory review periods, Chicago Mercantile Exchange Inc. (“CME” or “Exchange”) will list the Micro Ether Futures contract (the “Contract”) for trading on the CME Globex electronic trading platform (“CME Globex”) and for submission for clearing via CME ClearPort as more specifically described below.
0.1 Ether? This contract is tiny with a Notional of about $450. So to spread Micro Ether to Micro Bitcoin you need to do a 14:1 ratio? Also despite the contract being 1/500th of the size of the full size (50 vs 0.1), the fees are just 1/15th ($3 vs 20c) so ignoring NFA fees these are 33x more expensive to trade and with NFA fees 36x more expensive to trade. (FYI Micro Bitcoin are 25x more expensive to trade than full size). This will obviously open up trading Ether to a lot of people, but it will make buying and holding Ether expensive as your roll cost will be astronomical! Like Micro Bitcoin, the fee structure for this will make it too expensive to trade for me except in the rarest of occasions.
So we now have the following in the regulated crypto futures space
