B2C2 Claims First ETH/EUR CME Block Trade
Posted by Colin Lambert. Last updated: August 31, 2022
B2C2 says it has executed the first ETH/EUR block trade on CME, following the Merc’s official launch of the euro-denominated contracts earlier this week. The firm says it traded the block with XBTO Group with the trade being cleared through ED&F Man Capital Markets.
CME launched the contracts on August 29, they are designed to match the exchange’s dollar-denominated counterparts and are sized at five bitcoin and 50 ether per contract. The contracts are cash-settled, based on the CME CF Bitcoin-Euro Reference Rate and CME CF Ether-Euro Reference Rate, which serve as once-a-day reference rates of the euro-denominated price of Bitcoin and Ether.
“This trade marks an important expansion of mechanisms available for sourcing liquidity in large sizes and exemplifies B2C2’s goal of increasing crypto liquidity access for institutional investors,” the firm says in a post. “Block trades are an effective way to trade crypto in large sizes, making it a desirable product for institutional traders.”