Chapter 450
Bitcoin Euro Futures
45000.

SCOPE OF CHAPTER
This chapter is limited in application to Bitcoin Euro Futures. In addition to this chapter, futures
shall be subject to the general rules and regulations of the Exchange as applicable.

45001.

CONTRACT SPECIFICATIONSEach futures contract shall be valued at 5 bitcoin as defined by the CME CF Bitcoin-Euro
Reference Rate (“BTCEUR_RR”).

45002.

TRADING SPECIFICATIONS
45002.A. Trading Schedule
Futures contracts shall be scheduled for trading during such hours and for delivery in such months
as may be determined by the Exchange.
45002.B. Trading Unit
The unit of trading shall be 5 bitcoin.
45002.C. Price Increments
The minimum price increment shall be 5.00 index points, equal to €25.00 per contract, except forintermonth spreads executed pursuant to Rule 542.A., for which the minimum price increment
shall be 1.00 index points, equal to €5.00 per intermonth spread.
45002.D. Position Limits, Exemptions, Position Accountability and Reportable Levels
The applicable position limits and/or accountability levels, in addition to the reportable levels, areset forth in the Position Limit, Position Accountability and Reportable Level Table in theInterpretations & Special Notices Section of Chapter 5.
A Person seeking an exemption from position limits for bona fide commercial purposes shall apply
to the Market Regulation Department on forms provided by the Exchange, and the Market
Regulation Department may grant qualified exemptions in its sole discretion.
Refer to Rule 559 for requirements concerning the aggregation of positions and allowable
exemptions from the specified position limits.
45002.E. Daily Price Limits
At the commencement of each Trading Day, the contract shall be subject to special pricefluctuation limits and daily price limits as set forth in Rule 589 and in the Special Price Fluctuation
Limits Table in the Interpretations & Special Notices Section of Chapter 5.
45002.F. Termination of Trading
Trading in expiring futures shall terminate at 4 p.m. London time on the last Friday of the contract
month if that day is a business day in either the UK or the US. If that day is not a business day inboth the UK and the US, trading shall terminate on the preceding day that is a business day ineither the UK or the US.

45003.

SETTLEMENT PROCEDURES
Delivery shall be by cash settlement.
45003.A. Final Settlement Price
For a futures contract for a given delivery month, the Final Settlement Price shall be theBTCEUR_RR published at 4 p.m. London time on the Last Trade Date (Rule 45002.F.). Revision
to the published BTCEUR_RR shall be received prior to 23:59:59 London Time on the Last TradeDate. Thereafter, the final settlement futures price shall be deemed final.
In the event that the BTCEUR_RR is not publishable or published on the CME Bitcoin EuroFutures Termination of Trading day, and therefore, CME cannot determine the CME Bitcoin EuroFinal Settlement Price, then final settlement of the CME Bitcoin Euro futures contract is at thediscretion of the Exchange and may be deferred or postponed for up to 14 consecutive calendar
days.
45003.B. Final Settlement© Copyright Chicago Mercantile Exchange, Inc. All rights reserved.

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Clearing members holding open positions in an expiring futures contract at its termination oftrading (Rule 45002.F.) shall make payment to or receive payment from the Clearing House inaccordance with normal variation margin procedures based on such expiring contract’s FinalSettlement Price (Rule 45003.A.).
In the event of a hard fork, Bitcoin Euro futures shall continue to settle to the BTCEUR_RR
corresponding to the original token pair (BTC:EUR). The Exchange may, in its sole discretion,
take alternative action with respect to hard forks in consultation with market participants as may
be appropriate.

© Copyright Chicago Mercantile Exchange, Inc. All rights reserved.

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