Futures Now Trading on the SPIKES Volatility Index
PRINCETON, N.J. and MINNEAPOLIS, Dec. 15, 2020 /PRNewswire/ Miami International Securities Exchange, LLC (MIAX) and the Minneapolis Grain Exchange (MGEX) today announce that a successful first day of futures trading on the SPIKES Volatility Index (SPIKES) took place yesterday on December 14. SPIKES Futures are a significant step forward for the volatility marketplace, adding necessary competition, choice and innovation, said Thomas P. Gallagher, Chairman and CEO of MIAX. With SPIKES Futures, investors have access to an advanced, competitively priced volatility trading product that further rounds out the SPIKES Volatility Products portfolio. We are excited that SPIKES Futures liquidity providers successfully began actively quoting yesterday, providing a tight market for SPIKES Futures right out of the gate.
Last Updated: 11 December 2020
With the crypto market rallying in 2020, it has been a pretty good year for crypto-backed financial products. The Canadian investment management firm 3iQ announced the launch of its flagship Ether-backed exchange-traded fund (ETF). –The funds will list on the Toronto Stock Exchange, allowing investors to gain exposure to the fledgling crypto asset class.
A Good Day Despite Slight Hiccups
The Ether ETF provides investors with exposure to Ether without purchasing, selling, or storing the asset for themselves. The coins backing the shares will be held by Gemini Custody, the custodial arm of the Gemini exchange.
The product also joins the Bitcoin Fund from 3iQ. The latter was added to the exchange in April on the Toronto Stock Exchange, listing almost 1.5 million Class A shares upon its launch. The Bitcoin Fund sold at $11 per unit upon its launch, but it soon surged in value. In October, 3iQ said the Bitcoin Fund had crossed the $100 million ma
MIAX and MGEX Announce SPIKES Futures December 14 Relaunch
PRINCETON, N.J. and MINNEAPOLIS, Dec. 10, 2020 /PRNewswire/ Miami International Securities Exchange, LLC (MIAX
) and the Minneapolis Grain Exchange (MGEX) today announce the planned December 14 relaunch of futures on the SPIKES Index (SPIKES Futures) on MGEX via the CME Globex platform. S&P 500 ETF (SPY), the most actively traded ETF in the world, and was developed by T3 Index, a firm that develops proprietary indexes. Available on MGEX via the CME Globex platform, SPIKES Futures (Ticker: SPK) offers a trading experience consistent with industry best practice tick size, notional value and contract specifications. SPIKES Futures introduces an innovative, efficient, accurate and cost-effective choice to the current volatility trading market. SPIKES Options are currently listed on MIAX.