FalconX announces it has executed a Solana futures block trade at CME Group

According to a PRNewswire report, digital asset broker FalconX has announced that it has completed its first block trade on the Solana futures product launched by the financial services company StoneX on the CME Group, aiming to provide investors with a capital-efficient way to manage their risk exposure. FalconX also stated that it will continue to serve as the primary liquidity provider for cryptocurrency derivatives at the CME Group. Previously, the CME Group announced the launch of Solana (SOL) futures on March 17, allowing market participants to trade micro-contracts (25 SOL) and standard-sized contracts (500 SOL). The CME Group's SOL futures will be cash-settled and based on the CME CF Solana-Dollar Reference Rate, which serves as the daily reference rate for the SOL-USD price, calculated at 4:00 pm London time.