CME Group opens 24/7 trading for cryptocurrency derivatives
CME Group begins always-on crypto derivatives trading
CME will activate non-stop trading for selected cryptocurrency futures and options beginning May 29, removing conventional session boundaries so institutions can manage exposure at any hour.
The change addresses a persistent mismatch: spot crypto markets trade round-the-clock while many regulated derivatives venues have fixed sessions, creating blind spots for intraday hedging and risk management.
CME has broadened its digital-asset product set over recent years and frames 24/7 operations as the next step in aligning regulated derivatives with the nonstop cadence of underlying tokens.
Executives cited sharply higher engagement: the firm recorded about $3 trillion in notional crypto derivatives volume in 2025, alongside notable gains in daily trading metrics year-over-year.
Operational metrics show average daily crypto volumes near 407,200 contracts (roughly a mid‑40% annual rise) and open interest above 335,400 contracts, up in the single digits percentage-wise; in USD terms recent reporting also cited average daily notional flows on the order of $12 billion, underscoring growing institutional throughput.
For market participants this enables tighter intraday hedging, faster reaction to spot moves, and fewer arbitrage windows between regulated and unregulated venues.
The operational shift has competitive consequences: established exchanges are moving to challenge crypto-first platforms that have been layering derivatives through acquisitions and partnerships, while pushing for deeper clearing and surveillance capabilities.
CME is simultaneously exploring tokenization initiatives — including executive-level discussions about a potential proprietary digital token — and a distinct program with Google Cloud to deliver tokenized representations of cash through a depository intermediary later this year, signalling a broader strategic push into token-based settlement rails.
Those tokenization experiments could shorten settlement latency and streamline margin transfers for institutional counterparties, but they also raise legal, custody and compliance questions that will shape design choices and regulatory scrutiny.
Regulators and internal risk teams will be watching liquidity depth during weekends and off-peak hours as trading behavior decentralizes across the full week, and they may demand new reporting or margin frameworks if novel patterns emerge.
Practically, traders should expect reduced hedging slippage but also continuous margin and surveillance requirements as the exchange’s systems and staff support round-the-clock operations.
- Key metric: 407,200 average daily contracts.
- Key metric: 335,400 average daily open interest.
- Key metric: $12 billion approximate average daily notional in the latest reporting period.
- Event start date: May 29.
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