Derivatives marketplace CME Group announced today that it will further expand its cryptocurrency derivatives offerings with the launch of Bitcoin Friday Futures (BFF) on September 30, pending regulatory review. These new weekly futures contracts will be sized at one-fiftieth of a bitcoin and will be cash-settled to the CME CF Bitcoin Reference Rate New York Variable (BRRNY) every Friday at 4:00 p.m. New York time. The new BFF contracts will be listed every Thursday at 6:00 p.m. New York time, with trading dates on Fridays, allowing market participants to trade the two most recent Fridays at any given point in time. Friday expiration enables these contracts to closely track the spot price of Bitcoin and help investors mitigate weekend price volatility.
