By John D'Antona

CME Specs Bitcoin Futures

Bitcoin futures are on the way.

In a post on its website, CME Group announced the details of its new bitcoin futures. While the details are now official, CME said that effective Q4 2017, and pending all relevant regulatory review periods, please be advised that CME will launch Bitcoin futures. So, the market will just have to wait a little longer for the actual contract.

The contract unit for the future will be 5 index points or $25 and be quoted in bitcoin per US dollar.

Monthly contracts will be listed for the nearest 2 months in the March quarterly cycle (Mar, Jun, Sep, Dec) plus the nearest 2 serial months not in the March quarterly cycle.

Trading of futures contracts terminates at 4:00 p.m. London time on the last Friday of the contract month. If that day is not a business day in both the UK and the US, trading terminates on the preceding day that is a business day for both the UK and the US.

Trading hours on CME Globex are: Sunday – Friday 6:00 p.m. – 5:00 p.m. (5:00 p.m. – 4:00 p.m. CT) with 15-minute trading halt Monday – Friday 3:15 p.m. – 3:30 p.m.CT and a 60-minute break each day beginning at 5:00 p.m. (4:00 p.m. CT)

Trading hours on CME ClearPort Sunday – Friday 6:00 p.m. – 5:00 p.m. (5:00 p.m. – 4:00 p.m. CT) with a 60-minute break each day beginning at 5:00 p.m. (4:00 p.m. CT)



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