CME Group to Launch Bitcoin Friday Futures on September 30
The derivatives market CME Group announced today that it will further expand its cryptocurrency derivatives products and launch Bitcoin Friday Futures (BFF) on September 30th, pending regulatory approval. The size of these new per-period contracts is one-fiftieth of a Bitcoin and will be cash-settled at 4:00 pm New York time every Friday with the CME CF Bitcoin Reference Rate New York Variable (BRRNY). The new BFF contract will be listed at 6:00 pm New York time every Thursday, with trading dates on Friday, and market participants can trade the two most recent Fridays at any specific time. The Friday expiration allows these contracts to closely track the spot price of Bitcoin and help investors mitigate weekend price fluctuations.
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