Chicago Mercantile Exchange (CME) daily average bitcoin futures trading up to $ 370 million

As CME Group Managing Director Tim McCourt noted, the activity of traders has increased significantly compared to August last year. “Since the …

The Chicago Mercantile Exchange (CME) reported record daily trading volume of bitcoin futures in 2019, indicating a renewed interest in the first cryptocurrency from investors, according to Forbes.

As CME Group Managing Director Tim McCourt noted, the activity of traders has increased significantly compared to August last year.

“Since the beginning of the year, an average of 7,237 bitcoin futures contracts have been signed daily, up 132% on the same period last year,” he said.

The average daily trading volumes of bitcoin futures at the same time amounted to $370 million.

“This is a great time for both bitcoin futures and cryptocurrency assets in general. Investor interest in cryptocurrency is high, and interest in the wider use of cryptocurrencies and blockchain technology is also growing. It will be interesting to see how this new market will continue to grow,” McCourt said.

According to him, the CME Group’s main focus is on the educational aspect and providing customers with the tools that they may need to make informed strategic decisions.

Returning to the figures, Tim McCourt recalled that May 2019 was the most successful month for the bitcoin futures market on the CME in the history of the instrument. At that time, an average of 13,600 contracts per day was awarded, which corresponded to a nominal amount of $515 million or 68,000 BTC.

The absolute record was recorded on May 13, when 33,677 contracts totaling 168,000 BTC ($1.3 billion) were signed.

“Our role is to help market participants manage risk regardless of whether the price of bitcoin goes up or down. At the moment, CME Group is pleased with the growth of bitcoin futures,” McCourt added.

Recall, in September it is expected to launch trading bitcoin futures on the Bakkt platform, contracts for which, unlike CME, will be with the physical supply of the asset.

About Post Author

Miu Lin

Miu is a journalism major and has been writing as a business journalist for various dailies before joining OBN. She currently writes about blockchain, cryptocurrencies and business news.

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Cme Group Inc (NASDAQ:CME) Move as Institutional Investors’ Sentiment Crashes

The Company’s products include exchange-traded; and privately … were published by: Nasdaq.com which released: “Gemini Exchange Data Is Being …

CME Group Inc. (NASDAQ:CME) Logo

Sentiment for Cme Group Inc (NASDAQ:CME)

Cme Group Inc (NASDAQ:CME) institutional sentiment decreased to 1 in 2019 Q1. Its down -0.19, from 1.19 in 2018Q4. The ratio has dropped, as 318 hedge funds increased or started new positions, while 318 sold and trimmed stakes in Cme Group Inc. The hedge funds in our partner’s database now possess: 282.94 million shares, down from 298.28 million shares in 2018Q4. Also, the number of hedge funds holding Cme Group Inc in their top 10 positions decreased from 36 to 18 for a decrease of 18. Sold All: 53 Reduced: 265 Increased: 228 New Position: 90.

CME Group Inc., through its subsidiaries, operates contract markets for the trading of futures and options on futures contracts worldwide. The company has market cap of $77.43 billion. The firm offers a range of products across various asset classes, based on interest rates, equity indexes, foreign exchange, energy, agricultural commodities, and metals. It has a 42.16 P/E ratio. The Company’s products include exchange-traded; and privately negotiated futures and options contracts and swaps.

The stock increased 0.74% or $1.58 during the last trading session, reaching $216.22. About 601,574 shares traded. CME Group Inc. (NASDAQ:CME) has risen 21.77% since August 28, 2018 and is uptrending. It has outperformed by 21.77% the S&P500.

Vgi Partners Pty Ltd holds 18.56% of its portfolio in CME Group Inc. for 1.11 million shares. Capital Counsel Llc Ny owns 889,560 shares or 10.7% of their US portfolio. Moreover, Iron Financial Llc has 10.15% invested in the company for 97,486 shares. The Ohio-based Cincinnati Financial Corp has invested 6.48% in the stock. Thornburg Investment Management Inc, a New Mexico-based fund reported 3.11 million shares.

CME Group Inc. (NASDAQ:CME) Ratings Coverage

Ratings analysis reveals 40% of CME Group’s analysts are positive. Out of 5 Wall Street analysts rating CME Group, 2 give it “Buy”, 1 “Sell” rating, while 2 recommend “Hold”. The lowest target is $150 while the high is $24000. The stock’s average target of $195.40 is -9.63% below today’s ($216.22) share price. CME was included in 15 notes of analysts from March 1, 2019. The stock of CME Group Inc. (NASDAQ:CME) has “Buy” rating given on Friday, March 15 by Deutsche Bank. The firm has “Sell” rating by J.P. Morgan given on Friday, March 22. The stock has “Neutral” rating by UBS on Thursday, May 2. The firm has “Buy” rating by Deutsche Bank given on Friday, August 9. UBS maintained CME Group Inc. (NASDAQ:CME) rating on Wednesday, June 5. UBS has “Neutral” rating and $19000 target. The company was maintained on Wednesday, July 3 by UBS. The rating was maintained by Barclays Capital on Tuesday, March 26 with “Overweight”. The rating was maintained by Wells Fargo on Wednesday, July 3 with “Market Perform”.

More notable recent CME Group Inc. (NASDAQ:CME) news were published by: Nasdaq.com which released: “Gemini Exchange Data Is Being Added to CME’s Crypto Indices – Nasdaq” on August 08, 2019, also Seekingalpha.com with their article: “Deutsche Bank downgrades TD Ameritrade, E*Trade – Seeking Alpha” published on August 09, 2019, Nasdaq.com published: “First Week of CME October 18th Options Trading – Nasdaq” on August 20, 2019. More interesting news about CME Group Inc. (NASDAQ:CME) were released by: Finance.Yahoo.com and their article: “Don’t Sell CME Group Inc. (NASDAQ:CME) Before You Read This – Yahoo Finance” published on August 21, 2019 as well as Nasdaq.com‘s news article titled: “Noteworthy Tuesday Option Activity: ALRM, ZEN, CME – Nasdaq” with publication date: July 30, 2019.

CME Group Inc. (NASDAQ:CME) Institutional Positions Chart

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Bessemer Group Inc. Sells 194699 Shares of CME Group Inc (NASDAQ:CME)

Bessemer Group Inc. lowered its position in shares of CME Group Inc (NASDAQ:CME) by 20.0% during the second quarter, according to the company …

CME Group logoBessemer Group Inc. lowered its position in shares of CME Group Inc (NASDAQ:CME) by 20.0% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 778,779 shares of the financial services provider’s stock after selling 194,699 shares during the quarter. Bessemer Group Inc. owned approximately 0.22% of CME Group worth $151,171,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. FMR LLC grew its holdings in CME Group by 5.7% during the 1st quarter. FMR LLC now owns 6,553,654 shares of the financial services provider’s stock worth $1,078,600,000 after acquiring an additional 355,566 shares in the last quarter. Janus Henderson Group PLC grew its holdings in CME Group by 10.7% during the 1st quarter. Janus Henderson Group PLC now owns 6,229,661 shares of the financial services provider’s stock worth $1,025,278,000 after acquiring an additional 603,645 shares in the last quarter. Geode Capital Management LLC grew its holdings in CME Group by 12.9% during the 4th quarter. Geode Capital Management LLC now owns 4,715,269 shares of the financial services provider’s stock worth $885,776,000 after acquiring an additional 537,917 shares in the last quarter. Northern Trust Corp grew its holdings in CME Group by 1.0% during the 1st quarter. Northern Trust Corp now owns 4,212,490 shares of the financial services provider’s stock worth $693,291,000 after acquiring an additional 42,753 shares in the last quarter. Finally, Fiera Capital Corp grew its holdings in CME Group by 7.2% during the 1st quarter. Fiera Capital Corp now owns 2,531,242 shares of the financial services provider’s stock worth $416,592,000 after acquiring an additional 169,830 shares in the last quarter. Hedge funds and other institutional investors own 85.72% of the company’s stock.

Shares of CME stock traded down $2.02 during midday trading on Friday, reaching $211.22. 1,257,705 shares of the company were exchanged, compared to its average volume of 1,342,990. CME Group Inc has a 12 month low of $161.05 and a 12 month high of $217.65. The company has a market cap of $76.36 billion, a P/E ratio of 30.97, a PEG ratio of 4.75 and a beta of 0.23. The company’s 50 day moving average price is $206.79 and its two-hundred day moving average price is $187.33. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.05 and a current ratio of 1.05.

CME Group (NASDAQ:CME) last released its quarterly earnings results on Wednesday, July 31st. The financial services provider reported $1.76 EPS for the quarter, topping analysts’ consensus estimates of $1.75 by $0.01. CME Group had a net margin of 39.36% and a return on equity of 9.14%. The company had revenue of $1.27 billion for the quarter, compared to the consensus estimate of $1.27 billion. During the same period in the previous year, the firm earned $1.74 EPS. CME Group’s revenue was up 20.1% on a year-over-year basis. As a group, sell-side analysts predict that CME Group Inc will post 6.68 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 25th. Investors of record on Tuesday, September 10th will be issued a $0.75 dividend. The ex-dividend date of this dividend is Monday, September 9th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.42%. CME Group’s payout ratio is currently 43.99%.

Several research analysts have recently commented on CME shares. Barclays lifted their price target on shares of CME Group from $191.00 to $197.00 and gave the company an “overweight” rating in a report on Thursday, May 23rd. Deutsche Bank lifted their price target on shares of CME Group from $224.00 to $240.00 and gave the company a “buy” rating in a report on Friday, August 9th. Zacks Investment Research lowered shares of CME Group from a “hold” rating to a “sell” rating and set a $158.00 price target for the company. in a report on Monday, May 27th. ValuEngine raised shares of CME Group from a “hold” rating to a “buy” rating in a report on Wednesday, May 8th. Finally, Citigroup set a $202.00 target price on shares of CME Group and gave the company a “buy” rating in a research note on Thursday, May 2nd. Three investment analysts have rated the stock with a sell rating, five have issued a hold rating and eight have issued a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $194.00.

In other news, insider Sunil Cutinho sold 1,990 shares of CME Group stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $202.38, for a total value of $402,736.20. Following the transaction, the insider now directly owns 31,182 shares of the company’s stock, valued at $6,310,613.16. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Dennis Suskind sold 1,500 shares of the business’s stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $212.46, for a total transaction of $318,690.00. Following the transaction, the director now directly owns 4,853 shares in the company, valued at $1,031,068.38. The disclosure for this sale can be found here. Insiders sold a total of 76,271 shares of company stock worth $15,290,370 over the last quarter. Insiders own 1.20% of the company’s stock.

About CME Group

CME Group Inc, through its subsidiaries, operates contract markets for the trading of futures and options on futures contracts worldwide. It offers a range of products across various asset classes, including futures and options based on interest rates, equity indexes, foreign exchange, energy, agricultural commodities, and metals, as well as fixed income products.

See Also: Outstanding Shares

Institutional Ownership by Quarter for CME Group (NASDAQ:CME)

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Winklevoss’ Gemini Crypto Exchange Hires New Chief Security Officer

As previously reported by Cointelegraph, the Chicago Mercantile Exchange (CME Group) added Gemini as a constituent exchange on Aug. 8.

Gemini, the cryptocurrency exchange and custody founded by the Winklevoss twins, has hired cybersecurity expert David Damato as its new chief security officer (CSO). Damato was previously the CSO of cybersecurity firm Tanium.

Tyler Winklevoss announced the new hire in an official blog post on Aug. 19. According to the blog, Damato previously created and led a cybersecurity team at Tanium that provided security services to government agencies, Fortune 500 firms and numerous banks.

In the announcement, Tyler Winklevoss emphasized that Gemini has always had a security-first mentality, citing its SOC2 Type I examination — a type of audit — and its hardware security key-based solution for account security.

Foray into the Chicago Mercantile Exchange

As previously reported by Cointelegraph, the Chicago Mercantile Exchange (CME Group) added Gemini as a constituent exchange on Aug. 8. According to the CME Group’s announcement, Gemini will be one of four major crypto pricing indices on CME starting Aug. 30.

In June, Gemini opened up offices in Chicago that will serve as an engineering hub to support trading and custody operations. In opening the offices, Gemini reportedly hired former engineers from major United States-based crypto exchange and wallet service Coinbase. Gemini is headquartered in New York and also has offices in Portland, Oregon.

Gemini is the 77th-largest cryptocurrency exchange according to adjusted trade volume, with a 24-hour trade volume of $16.5 million, according to CoinMarketCap.

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CME Group Inc. (CME): A Resilient, Fast-Growing, And Fairly-Priced

The median price target for CME Group Inc., (CME) over the next 12 months is $205, which means that it could rise by -1.6% from its current position.

The median price target for CME Group Inc., (CME) over the next 12 months is $205, which means that it could rise by -1.6% from its current position. Despite that, some analysts believe that it won’t perform excellent, setting a lower price target of $163 for the stock which means it could rise by -21.76%. Most analysts believe that the company’s stock has the potential to rise by 15.2% or more. For CME Group Inc. to record further gain analysts believe that the company has to hit $240 price target. The high price target for CME for next 12 months currently stands at $240. This means that the highest 12 months price target is 15.2% above its last closing price. For most investors, the -2.33% change in the share price could have prompted them to sell the stock, but doing that would be a mistake as it would be taking into consideration only the short-term performance of the stock. The stock closed August 14, 2019 trading at $208.34 which saw downtrend of 10.75% since the beginning of 2019. The price of the stock has declined by -1.28% from average 12-month price target of $205.67 expected by the analysts.

A look at the CME stock today shows that it has gained 28.31% of its value over the past one year, which has led to some investors becoming excited about the short-term performance of CME Group Inc. (NASDAQ:CME). If we turn to the stock analysts in general, they revealed that most of them are still bullish about the chances of the shares. The consensus rating from analysts for CME Group Inc. (CME) is 2.5 which is a ,neutral rating. Over the past week, the stock has been rated as a Buy 7 times while it has been rated as a Hold 8 times. The 52-week high price for CME is $216.73 which is attained on August 09 while its 52-week low currently stands at $161.05 and was reached on March 28. At the moment, the stock is trading $22.84 above its YTD moving average set at $185.5.

Moving on, CME Group Inc. (CME) last released its earnings for the June 2019 quarter of the fiscal year. The company performed lower over the past three months, with its earnings down -13% year-over-year at $1.62. The company brought a surprise of 1 as analysts were predicting $1.6 per share. The revenue generated by CME Group Inc. in the June 2019 quarter surged by 6% to reach $1.18 billion. This is high compared to the $1.11 billion it recorded in the same quarter last year. To see what traders should watch in its September 2019 financial results, analysts have consensus earnings per share of $1.64 which is lower than the $1.74 recorded in the same quarter a year ago. Over the next 12 months, the earnings per share are expected to move by 10.1%. If it achieves that, then the company firmly believes that its long-term annual earnings growth rate target set at 4.94 % could be achieved. The company has also recorded a revenue of $4.59 billion over the past 12 months.

In order to determine if the stock is worthy of your patience, you should know that CME Group Inc. (NASDAQ:CME) is now trading at 40.66X the earnings per share recorded over the past 12 months. This is an uptrend compared to the readings of the sector which is 21.14X while the industry average stands at 26.45X. The most popular way to value a stock is to look at its historic Price-to-Earnings (P/E) ratio with the help of its earnings report over the past 12 months. CME Group Inc. was able to achieve an EPS of $5.12 during the last four quarters. The P/E ratio is widely known due to the fact that it is widely used, simple, effective, and, tautologically.

On Wednesday, August 14 of 2019, the 14-day Absolute ATR (Average True Range) for CME moved by $4.53. Over the past seven days, the stock’s average daily volatility stood at 2.4%. A stock with a low volatility is usually a good one as it means that investors are very confident in the stock. CME Group Inc.’s trading volume has recently moved to 1.45 million, which is compared with the average daily volume of 1.34 million shares.

The daily chart for CME, points out that the company has recorded 15.49% gains over the past six months. However, it is still 29.36% higher than its most recent low trading price. The performance of the stock over the past five days shows that it is down -0.26% though it is 1.64% above its three-week moving average. It is worthy to know that price action is not always clear. There are times when a stock will undergo some negatives, trade erratically within some range or even act very unpredictable. When that happens, then making use of moving averages makes the pattern clearer for traders. Comparing to 50-day SMA, the price of the stock has surged by 3.3% while it is up 12.42% against the 200-day SMA. This is usually seen as the last support line for a stock, as a move downward could signal a bearish trend or market. The daily chart of CME reveals that it has gained some grounds as it ended Wednesday with a 2.39% rise over the past 30 days.

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