Settlement
Futures come with four 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)
- Semiannual: expiring the last Friday of the month on the March quarterly cycle (March, June, September, and December). Semi-Annual maturity is available for FI_BTCUSD and FI_ETHUSD contracts only
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.
| Monthly Contracts | Quarterly Contracts | Semiannual Contracts (FI_BTCUSD, FI_ETHUSD only) | |
|---|---|---|---|
| Trading Hours | Continuously from 00:01 to 24:00 UTC on every day of the year, except for system maintenance | ||
| First Trading Day | The last Friday of the calendar month where no contract exists in the following calendar month | The last Friday of the calendar month where a contract exists in the following calendar month | The last Friday of the calendar month where both a Month contract and Quarter contract 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 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
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* Update July 2024: Final BCH dollar fixed maturity will be FI_BCHUSD_240927, no new BCH fixed maturities will be listed