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CME Group Published A Specification For Bitcoin Futures Contracts


The group of the Chicago Mercantile Exchange (CME Group) has published a specification of bitcoin futures contracts, the launch of which is expected in the last quarter of the current year.

As noted on the website of the exchange, one futures contract will contain five bitcoins, and calculations after expiration will be made based on Bitcoin Reference Rate (BRR). The latest is the reference bitcoin against the US dollar, compiled by the CME Group according to the data Bitstamp, GDAX, itBit and Kraken.

For these futures, the CME has established the following Price Limits: price fluctuation limits

  • when the futures contract price changes from the closing of the previous session by 7% and 13% respectively, the trade will be consistently suspended for two minutes;
  • with a similar change in price by 20%, the bids will be completely stopped before the corresponding order.

The minimum price fluctuation is set at $ 5 per bitcoin ($ 25 per contract). The limit of contracts (the maximum allowable number of futures contracts that may be owned by one person or a group of related persons) for a spot position is 1000.

As you know, CME Group is one of the world's largest options and futures exchanges and operator of Standard & Poor’s 500 (S&P 500) Index and the Dow Jones Industrial Average (DJIA) that the two most widely known stock indexes.

Earlier CME Group intends to launch trading in futures for bitcoin before the end of this year, after receiving appropriate approval from the financial regulator.