CME Set to Launch Avalanche, Sui Futures Ahead of 24/7 Crypto Derivatives Trading Shift

CME Group is expanding its crypto futures trading offerings with the launch of Avalanche (AVAX) and Sui (SUI) futures contracts, which are slated to begin trading next month. 

The offerings, which are subject to regulatory review, would add micro-sized and larger-sized contracts for the altcoins on the organization’s leading derivatives exchange. 

“Our new micro- and larger-sized Avalanche and Sui futures will provide clients with greater choice, enhanced flexibility and more capital efficiencies across our deeply liquid, regulated Crypto derivatives complex,” said CME Global Head of Crypto Products Giovanni Vicioso, in a statement. 

“We continue to see strong volumes as market participants turn to our markets to manage risk and pursue opportunities, with March average daily volume up 19% year-over-year and nearly $8 billion in average notional value traded daily,” he added.

The expected AVAX and SUI offerings join a trio of other popular altcoins—Cardano (ADA), Stellar (XLM), and Chainlink (LINK)—that the firm added to its derivatives portfolio earlier this year. The firm also offers Bitcoin, Ethereum, XRP, and Solana futures and options.

“With sustained and increasing interest in digital assets, we welcome the continued rollout of additional derivatives tailored to high-growth crypto assets,” said Isaac Cahana, CEO of licensed futures trading provider Plus500US, in a statement. 

“These new contracts further broaden access for our global customers, allowing them to participate in evolving markets with greater flexibility and improved capital efficiency,” Cahana added. 

With regulatory approval, CME expects its AVAX and SUI futures to go live on May 4, just a few weeks ahead of the firm’s shift to 24/7 trading of options and futures on May 29.

The Chicago-based firm announced earlier this year it was also considering “different initiatives with our own coin” to be used on decentralized networks. 

Last year, the firm’s crypto trading volumes hit new record highs, with more than $13 billion in notional volumes traded every day. It is also working on a “tokenized cash initiative” with Google, with the hopes of launching new products later this year.