Futures come with three maturities:
- Perpetual: Further details (never expires)
- Monthly: expiring the last Friday* of every month
- Quarterly: expiring the last Friday* of the month on the March quarterly cycle (March, June, September, and December)
Fixed maturity contract positions that are held to maturity are cash settled at the price set by our daily-reference rates.
Settlement results in a taker fee.
Positions can be exited at any time before maturity by trading out of the position.
Fixed maturity contracts mature on Fridays at 16:00 London time and settle within 15 minutes afterwards based on the reference rate computed from our indices.
*The Friday must be a business day in both the UK and the US for settlement to occur. If the Friday is a UK or US holiday per CME calendar settlement will occur the day before.
| Month Contracts | Quarterly Contracts | ||
|---|---|---|---|
| Trading Hours | Continuously from 00:01 to 24:00 UTC on every day of the year, except for system maintenance | ||
| First Trading Day | Each Friday* for which a contract expiring the following Friday* exists already AND no contract expiring the last Friday* of the following month already exists. | Each Friday* for which a contract expiring the following Friday* exists AND a contract expiring the last Friday* of the following month exists. | |
| First Trading Time | At 16:00 London time on the First Trading Day | ||
| Last Trading Day/ Final Settlement Day |
|
Last Friday* of the month | Last Friday* of a month in the March quarterly cycle (March, June, September, December) |
| Last Trading Time | At 16:00 London time on the Last Trading Day | ||
| Settlement Time | Within 15 minutes after the Last Trading Time | ||
| Settlement Price | Bitcoin Dollar Futures: CME CF Bitcoin Reference Rate printed for the 16:00 London time Ether Dollar Futures: CME CF Ether Dollar Reference Rate printed for the 16:00 London time Litecoin Dollar Futures: CF LTC Dollar Settlement Price at 16:00 London time XRP Dollar Futures: CF XRP Dollar Settlement Price at 16:00 London time BCH Dollar Futures: CF BCH Dollar Settlement Price at 16:00 London time XRP Bitcoin Futures: CF XRP Bitcoin Settlement Price at 16:00 London time |
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* If a Friday is not a business day in both the UK and the US, then contracts are settled on the preceding day that is a business day in both the UK and the US. |
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