Coming Soon: Bitcoin Futures

CME Group will launch Bitcoin futures, based on the CME CF Bitcoin Reference Rate (BRR), in Q4 2017, building off of the success of the BRR and demand for a regulated trading venue for the digital asset market.

View Press Release

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Contract Specifications

Contract Unit

5 bitcoin, as defined by the CME CF Bitcoin Reference Rate (BRR)

Minimum Price Fluctuation

Outright: $5.00 per bitcoin = $25.00 per contract

Calendar Spread: $1.00 per bitcoin = $5.00 per contract

Trading Hours

CME Globex and CME ClearPort: 5:00 p.m. – 4:00 p.m. CT Sunday – Friday

Product Code

Outright: BTC

Listing Cycle

Nearest 2 months in the March Quarterly cycle (Mar, Jun, Sep, Dec) plus the nearest 2 "serial" months not in the March Quarterly cycle.

Contract months for initial listing: Dec 2017, Jan 2018, Feb 2018, Mar 2018.

Termination of Trading

Last Day of Trading is the last Friday of contract month.

Trading in expiring futures terminates at 4:00 p.m. London time on Last Day of Trading.

Position Limits

Spot Position Limits are set at 1,000 contracts. A position accountability level of 5,000 contracts will be applied to positions in single months outside the spot month and in all months combined.  The reportable level will be 25 contracts.

Block Minimum

5 contracts

Price Limits

Price limits for a given Business Day are made by reference to the most recent Bitcoin Futures settlement price, settled at 4:00 p.m. London time each Business Day.

Special price fluctuation limits equal to 7% above and below prior settlement price and 13% above and below prior settlement price and a price limit of 20% above or below the previous settlement price. Trading will not be permitted outside the 20% above and below prior settlement price.

Settlement

Cash settled by reference to Final Settlement Price, equal to the CME CF Bitcoin Reference Rate (BRR) on Last Day of Trading.

Pending regulatory review and certification

Learn More about Bitcoin Pricing Products

Resources

Bitcoin Futures FAQ
Learn more about CME Bitcoin futures, including product details, when contracts will launch, and how to trade. 

Read the FAQ

About the CME CF BRR and CME CF BRTI
Learn more about the new CME CF Bitcoin Reference Rate (BRR) and CME CF Bitcoin Real Time Index (BRTI) from CME Group and Crypto Facilities Ltd.

Get details

BRR Methodology
Learn more about the CME CF Bitcoin Reference Rate, including what it is and how it's calculated.

View Methodology