Tim McCourt, Senior Managing Director of CME Group, said in an interview with Hong Kong media Ming Pao that the open contracts of CME Group's virtual currency instruments involve nearly $40 billion, and there is strong demand from the investment market in the Asia-Pacific region. The rate cut by the US will trigger the need for funds from non-dollar currencies to seek hedging, such as in Singapore where many institutional investors have started to shift towards investing in virtual currencies.
