CME Bitcoin Futures (BTC) Market Specifications

May 15, 2020

CME Bitcoin futures are (USD) cash settled futures based on the CME CF bitcoin reference rate (BRR), which aggregates bitcoin trading activity across major bitcoin spot exchanges between 3:00 p.m. and 4:00 p.m. London time. Since they are cash settled, you’ll never be forced to own or deliver actual Bitcoins.

Contract Multiplier: 5 Bitcoin.

Trading Ticker Symbol: BTC.

Contract Expirations: Last day of trading is the last Friday of contract month. The Exchange may list the nearest 2 months in the March quarterly cycle (Mar,Jun,Sep,Dec)(H,M,U,Z) plus the nearest 2 “serial” months not in the March quarterly cycle

Regular Session Trading Hours: Sunday – Friday 6:00 p.m. – 5:00 p.m. ET (5:00 p.m. – 4:00 p.m. CT) with a 60-minute break each day beginning at 5:00 p.m. ET (4:00 p.m. CT). Trading in expiring futures terminates at 4:00 p.m. London time on the last Friday of the contract month. If this is not both a London and U.S. business day, trading terminates on the prior London and U.S. business day. The extending trading session is not support at this time.

Order Types: Limit & Stop Limit Only
Market Orders for BTC futures contracts will not be accepted and will be automatically rejected. The maximum order size will initially be 100 contracts.

Point Value: 5 ($5 per contract)
Minimum Price Intervals: 5 point values ($25 per contract).

Delivery: Cash settled by reference to final settlement price, equal to the CME CF bitcoin reference rate (BRR) 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.

Margin: Current margin rates are published on the TradeStation website. Click here to view the current rates. There is currently no reduced day-trading margin.

Price Limits: Daily price limits are calculated in relation to the most recent Bitcoin Futures settlement price, calculated at 4:00 p.m. London time each business day. The reference price may be adjusted at the sole discretion of the exchange to incorporate BRR changes on non-trading days. A price limit of 20% above or below the reference price and special price fluctuation limits equal to 7% above or below the reference price and 13% above or below the reference price apply. Trading will not be permitted outside of the 20% range above or below the reference price.

Sample Trading Symbol: BTCH18

Index Tracking Symbols:
$BRTI – CME CF Bitcoin Real-Time Idx
$BRR – CME CF Bitcoin Reference Rate

For More Information: Visit the CME website

Additional Important Information

 

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