Coinglass A quiet but telling shift is unfolding in the crypto derivatives market, as one of the most reliable money-making trades shows signs of breaking down. The cash-and-carry trade — in which institutions bought spot Bitcoin and sold futures to capture pricing gaps — is collapsing and signaling a deeper shift in crypto’s market structure. Open interest in Bitcoin futures on the Chicago Mercantile Exchange has slipped below Binance’s for the first time since 2023, underscoring how tighter spreads and ...

Core Viewpoint - CME Group announced the launch of a 100-ounce silver futures contract on February 9, 2026, pending regulatory approval, aimed at attracting retail traders amid geopolitical uncertainties and energy transitions [1] Group 1: Product Launch - The 100-ounce silver futures will be cash-settled based on the daily settlement price of the global benchmark silver futures and will be listed on the COMEX [1] - This new contract is expected to provide a broader range of participants with investment opportunities, benefiting from the liquidity and efficiency of the futures market [1] Group 2: Market Demand and Trends - There is a growing appeal of silver to retail traders who seek to diversify their risk exposure through various metal products [1] - The demand for silver is currently high, prompting CME Group to expand its small-scale product offerings [1] Group 3: Industry Insights - Robinhood Markets expressed that the new futures contract aligns with their mission to democratize financial services, offering customers a lower capital way to trade silver [1] - Plus500US noted that the new contract will allow global customers to seize silver market opportunities in a more flexible and cost-effective manner [1] Group 4: Trading Volume Records - In 2025, retail demand for CME Group's metal futures surged, leading to record trading volumes, with micro gold and micro silver futures averaging 301,000 and 48,000 contracts per day, respectively [1] - The cumulative trading volume for the 1-ounce gold futures contract, launched on January 13, 2025, exceeded 6 million contracts [1]

Core Insights - CME Group Inc. is the world's largest financial derivatives exchange, currently showing solid upward momentum as it trades above its 50-day and 200-day simple moving averages [1][8] Price Targets and Valuation - The average price target for CME Group, based on 15 analysts, is $294.07, indicating a potential upside of 5.21% from the last closing price of $279.50 [2] - CME is trading at a 12-month forward price-to-earnings ratio of 23.75X, which is below the industry average of 25.17X, and is cheaper than peers SPGI and CBOE [4][5] Share Performance - CME Group shares have increased by 20.3% over the past year, outperforming the industry growth of 13.7% and peers like Deutsche Borse AG and S&P Global Inc. [3] Financial Strength and Growth Drivers - CME generates high profits and strong cash flow, providing financial stability even during periods of low trading activity [11] - The company benefits from higher market volatility, which enhances trading activity, and is experiencing rising electronic trading volumes alongside growing interest in crypto-related products [11][12] Organic Growth and Competitive Position - A key strength of CME is its ability to grow organically, supported by strong network effects and deep liquidity in its flagship contracts [13] - CME's ongoing investments and disciplined cost management are yielding favorable results [13] Financial Health - As of September 30, 2025, CME had $2.6 billion in cash and $3.4 billion in debt, indicating good liquidity and manageable debt levels [14] Dividend Policy - CME pays a stable quarterly dividend along with an annual variable dividend, appealing to income investors, but the high payout ratio suggests limited reinvestment in growth initiatives [15] Risks and Competitive Landscape - CME faces concentration risk as interest rate and equity products account for a significant portion of its revenues, and it operates in a competitive landscape with potential regulatory challenges [16] Conclusion - CME is characterized as a strong and stable company with solid profitability and reliable dividends, but the upside appears limited due to rising competition [17]

Core Viewpoint - The article highlights the significant rise in gold and silver prices, with silver's performance exceeding market expectations, leading to substantial losses for short-sellers like TD Securities [1][3]. Group 1: Current Market Performance - As of January 20, gold reached $4734.096 per ounce, up 1.39%, while silver was priced at $95.241 per ounce, up 0.89%, with a year-to-date increase of over 33% [1][2]. - TD Securities faced a loss of $606,000 from a short position in silver, marking their second significant loss due to shorting silver in recent months [3][5]. Group 2: Market Dynamics and Predictions - The Bloomberg Commodity Index's rebalancing has been fully absorbed by the market, with new long positions emerging that offset approximately $7.5 billion in outflows [3][4]. - Analysts predict that silver will face significant selling pressure in 2026, with estimates suggesting a $7 billion sell-off, while gold's sell-off is expected to be around $2.1 billion [4]. Group 3: Future Outlook - Despite recent losses, TD Securities maintains that the silver market is overbought, with potential catalysts for a market correction, such as changes in import tariffs on silver [5]. - Analysts from various institutions express optimism for silver's long-term prospects, citing its dual role as a financial and industrial asset, with potential price targets reaching $100 per ounce [8][9]. - The Chicago Mercantile Exchange plans to launch a new 100-ounce silver futures contract in February 2026 to meet growing retail demand, enhancing market accessibility [10][11].

CME Group, the world’s largest derivatives marketplace, plans to list futures contracts for Cardano (ADA), Chainlink (LINK), and Stellar (XLM). Trading is scheduled to begin on February 9, pending regulatory approval. This move brings regulated crypto derivatives to major altcoins, expanding institutional access. Still, the announcement did not have a major impact on the prices of ADA, LINK, or XLM. CME Group Expands Crypto Product Suite CME Group announced the development in an official post on X (form ...

TD Cowen将芝加哥商品交易所的目标价从290美元上调至305美元，评级从"持有"上调至"买入"。(格隆 汇) ...

Ernest HoffmanErnest Hoffman is a Crypto and Market Reporter for Kitco News. He has over 15 years of experience as a writer, editor, broadcaster and producer for media, educational and cultural organizations. Ernest began working in market news in 2007, establishing the broadcast division of CEP News in Montreal, Canada, where he developed the fastest web-based audio news service in the world and produced economic news videos in partnership with MSN and the TMX. He has a Bachelor's degree Specialization in ...

Core Viewpoint - CME Group is expanding its cryptocurrency offerings by adding futures contracts for Cardano (ADA), Chainlink (LINK), and Stellar (XLM) on February 9, pending regulatory review [1] Group 1: New Product Offerings - The new futures contracts will be available in both standard and micro sizes: 100,000 ADA and 10,000 for micro; 5,000 LINK and 250 for micro; 250,000 XLM and 12,500 for micro [1] - CME Group's existing crypto offerings include Bitcoin, Ethereum, Solana, and XRP futures and options, highlighting its established role in the crypto derivatives market [4] Group 2: Market Context and Demand - Giovanni Vicioso, CME Group's global head of cryptocurrency products, noted that clients are seeking trusted, regulated products to manage price risk due to the record growth of crypto over the past year [2] - As of the latest data, ADA was trading at $0.398, LINK at $13.91, and XLM at $0.231, reflecting recent price declines of 5%, 3%, and 4.5% respectively [3] Group 3: Trading Volume and Industry Impact - Crypto options and futures reached record-high trading volumes in 2025, with an average daily contract volume of 278,300, representing $12 billion in notional value, and average open interest at 313,900 contracts, equivalent to $26.4 billion [6] - Justin Young, CEO of Volatility Shares, expressed excitement about the availability of more regulated financial products for trading and risk management in the crypto space [6]

CME Group announced plans on Jan. 15 to launch futures contracts for Cardano , Chainlink , and Stellar (Lumens) on Feb. 9, pending regulatory review. The new products will include both standard and smaller micro-sized contracts for each asset, according to CME Group’s announcement. Standard contract sizes are 100,000 ADA, 5,000 LINK, and 250,000 XLM. Micro contracts at one-tenth the size will also be available for traders seeking smaller positions. Futures allow traders to bet on future prices without ho ...

Why silver could top $100 an ounce within weeks. - Getty Images/iStockphoto Trading-exchange operator CME Group made it more expensive in recent weeks for people to trade silver futures contracts. That doesn’t seem to bother investors, who have lifted prices up to their highest levels on record, with many setting their sights on the psychologically important $100-an-ounce mark. CME CME already raised its silver futures contract performance bond requirement, also known as margin, once in January after bu ...