SUBMISSION COVER SHEET

IMPORTANT: Check box if Confidential Treatment is requested 

Registered Entity Identifier Code (optional): 23-230

Organization: Chicago Mercantile Exchange Inc. ("CME")

Filing as a: DCM SEF DCO SDR 

Please note - only ONE choice allowed.

Filing Date (mm/dd/yy): 05/30/23 Filing Description: Weekly Notification of 

Amendments Related to Product Terms and Conditions - Week of May 22, 2023

SPECIFY FILING TYPE 

Please note only ONE choice allowed per Submission.

Organization Rules and Rule Amendments

Certification § 40.6(a)

Approval § 40.5(a)

Notification § 40.6(d)

Advance Notice of SIDCO Rule Change § 40.10(a)

SIDCO Emergency Rule Change § 40.10(h)

Rule Numbers: 

New Product Please note only ONE product per Submission.

Certification § 40.2(a) 

Certification Security Futures § 41.23(a)

Certification Swap Class § 40.2(d)

Approval § 40.3(a)

Approval Security Futures § 41.23(b)

Novel Derivative Product Notification § 40.12(a)

Swap Submission § 39.5

Product Terms and Conditions (product related Rules and Rule Amendments)

Certification § 40.6(a) 

Certification Made Available to Trade Determination § 40.6(a)

Certification Security Futures § 41.24(a)

Delisting (No Open Interest) § 40.6(a) 

Approval § 40.5(a)

Approval Made Available to Trade Determination § 40.5(a)

Approval Security Futures § 41.24(c)

Approval Amendments to enumerated agricultural products § 40.4(a), § 40.5(a)

“Non-Material Agricultural Rule Change” § 40.4(b)(5)

Notification § 40.6(d)

Official Name(s) of Product(s) Affected: See filing. 

Rule Numbers: See filing. 
300 Vesey Street New York, NY 10282 T 212 299 2200 F 212 301 4645 christopher.bowen@cmegroup.com cmegroup.com

1

Christopher Bowen 

Managing Director and Chief Regulatory Counsel

Legal Department

May 30, 2023

VIA ELECTRONIC PORTAL

Mr. Christopher J. Kirkpatrick

Office of the Secretariat

Commodity Futures Trading Commission

Three Lafayette Centre

1155 21st Street, N.W.

Washington, DC 20581

Re: CFTC Regulation 40.6(d) Notification. Chicago Mercantile Exchange Inc. (“CME” or 

“Exchange”) Weekly Notification of Amendments Related to Product Terms and 

Conditions.

CME Submission No. 23-230

Dear Mr. Kirkpatrick:

Pursuant to Commodity Futures Trading Commission (“CFTC” or “Commission”) Regulation 40.6(d), the 

Exchange submits this weekly notification of the following amendments related to product terms and 

conditions effective during the week of May 22, 2023.

Effective Sunday, May 21, 2023, for trade date Monday, May 22, 2023, the Exchange implemented

amendments to the strike price listing schedule for all Options on Bitcoin Futures, Options on Ether Futures, 

Options on Micro Bitcoin Futures and Options on Micro Ether Futures contracts for trading on the CME 

Globex electronic trading platform and for submission for clearing via CME ClearPort. The marketplace was 

alerted of the amendments via Special Executive Report (“SER”) 9182R, which is attached hereto as Exhibit 

A.

Should you have any questions concerning the above, please contact the undersigned at (212) 299-2200 

or via e-mail at CMEGSubmissionInquiry@cmegroup.com.

Sincerely, 

/s/ Christopher Bowen

Managing Director and Chief Regulatory Counsel

Attachment: Exhibit A – SER 9182R
2

Exhibit A

Special Executive Report

DATE: April 20, 2023

SER#: 9182R

SUBJECT: Amendments to the Strike Price Listing Schedule of the Options on 

Bitcoin Futures, Ether Futures, Micro Bitcoin Futures and Micro Ether 

Futures Contracts

(SER 9182R supersedes SER 9182 dated April 17, 2023 to clarify that the first trade date for options on 

Bitcoin Futures, Ether Futures, Micro Bitcoin Futures and Micro Ether Futures contracts shall be that new 

contracts will be added two (2) business days prior to the expiration date of the nearest related expiring 

options contract and shall apply to the non-monthly options only. No other changes have been made to 

the original SER.)

Effective Sunday, May 21, 2023, for trade date Monday, May 22, 2023, Chicago Mercantile Exchange Inc. 

(“CME” or “Exchange”) will implement amendments to the strike price listing schedule for all Options on 

Bitcoin Futures, Options on Ether Futures, Options on Micro Bitcoin Futures and Options on Micro Ether 

Futures contracts for trading on the CME Globex electronic trading platform (“CME Globex”) and for 

submission for clearing via CME ClearPort as noted in the Table 1. below. 

Table 1.

Contract Title Commodity 

Code

Current Strike Price

Listing Schedule

Amended Strike Price 

Listing Schedule

Options on 

Bitcoin Futures BTC Prelisted strikes at $500,000, $100,000, $50,000, $10,000, 

$5,000 and $1,000 bitcoin 

increment plus dynamic strikes 

at $25 bitcoin increment.

Strikes listed for 300% above 

the at-the-money strike and 

100% below the at-the-money 

strike at:

 • $100,000 bitcoin 

increment for underlying 

settlement above $500,000

 • $50,000 bitcoin 

increment for underlying 

settlement at or below 

$500,000 

 • $10,000 bitcoin 

increment for underlying 

settlement at or below 

$100,000

 • $5,000 bitcoin 

increment for underlying 

settlement at or below $50,000

Prelisted strikes at $100,000, 

$50,000, $10,000, $5,000 and 

$1,000 bitcoin increment.

Strikes listed for 300% above 

the at-the-money strike and 

100% below the at-the-money 

strike at:

 • $100,000 bitcoin 

increment for underlying 

settlement above $500,000

 • $50,000 bitcoin 

increment for underlying 

settlement at or below 

$500,000 

 • $10,000 bitcoin 

increment for underlying 

settlement at or below 

$100,000

 • $5,000 bitcoin 

increment for underlying 

settlement at or below $50,000

 • $1,000 bitcoin 

increment for underlying 

settlement at or below $10,000

Monday Weekly 

Options on Micro 

Bitcoin Futures

W1A-W5A

Wednesday 

Weekly Options 

on Micro Bitcoin 

Futures

W1C-W5C

Friday Weekly 

Options on Micro 

Bitcoin Futures

W1E-W4E

Monthly Options 

on Micro Bitcoin 

Futures

WM
3

 • $1,000 bitcoin 

increment for underlying 

settlement at or below $10,000

 • $500 bitcoin increment 

for underlying settlement at or 

below $5,000

When less than 96 days 

remain until expiration (DTE), 

additional strikes listed for 

75% above the at-the-money 

strike and 25% below the atthe-money strike at:

 • $10,000 bitcoin 

increment for underlying 

settlement above $500,000

 • $5,000 bitcoin 

increment for underlying 

settlement at or below 

$500,000 

 • $1,000 bitcoin 

increment for underlying 

settlement at or below 

$100,000

 • $500 bitcoin increment 

for underlying settlement at or 

below $50,000

 • $100 bitcoin increment 

for underlying settlement at or 

below $10,000

 • $50 bitcoin increment 

for underlying settlement at or 

below $5,000

When less than 14 days 

remain until expiration (DTE), 

additional strikes listed for 

15% above the at-the-money 

strike and 5% below the atthe-money strike at:

 • $5,000 bitcoin 

increment for underlying 

settlement above $500,000

 • $2,500 bitcoin 

increment for underlying 

settlement at or below 

$500,000 

 • $500 bitcoin increment 

for underlying settlement at or 

below $100,000

 • $250 bitcoin increment 

for underlying settlement at or 

below $50,000

 • $50 bitcoin increment 

for underlying settlement at or 

below $10,000

 • $500 bitcoin 

increment for underlying 

settlement at or below $5,000

When less than 210 days 

remain until expiration (DTE), 

additional strikes listed for 

75% above the at-the-money 

strike and 25% below the atthe-money strike at:

 • $10,000 bitcoin 

increment for underlying 

settlement above $500,000

 • $5,000 bitcoin 

increment for underlying 

settlement at or below 

$500,000 

 • $1,000 bitcoin 

increment for underlying 

settlement at or below 

$100,000

 • $100 bitcoin 

increment for underlying 

settlement at or below $10,000

 • $50 bitcoin increment 

for underlying settlement at or 

below $5,000

When less than 5 days remain 

until expiration (DTE), 

additional strikes listed for 

15% above the at-the-money 

strike and 5% below the atthe-money strike at:

 • $5,000 bitcoin 

increment for underlying 

settlement above $500,000

 • $2,500 bitcoin 

increment for underlying 

settlement at or below 

$500,000 

 • $500 bitcoin 

increment for underlying 

settlement at or below 

$100,000

 • $250 bitcoin 

increment for underlying 

settlement at or below $50,000

 • $50 bitcoin increment 

for underlying settlement at or 

below $10,000
4

 • $25 bitcoin increment 

for underlying settlement at or 

below $5,000

Options on Ether 

Futures ETH Prelisted strikes at $50,000, $10,000, $5,000, $1,000, $500

and $100 micro ether 

increment plus dynamic strikes 

at $5 micro ether increment.

Strikes listed for 300% above 

the at-the-money strike and 

100% below the at-the-money 

strike at:

 • $10,000 micro ether 

increment for underlying 

settlement above $50,000

 • $5,000 micro ether 

increment for underlying 

settlement at or below $50,000 

 • $1,000 micro ether 

increment for underlying 

settlement at or below $10,000

 • $500 micro ether 

increment for underlying 

settlement at or below $5,000

 • $100 micro ether 

increment for underlying 

settlement at or below $1,000

 • $50 micro ether 

increment for underlying 

settlement at or below $500

When less than 96 days 

remain until expiration (DTE), 

additional strikes listed for 

75% above the at-the-money 

strike and 25% below the atthe-money strike at:

 • $1,000 micro ether 

increment for underlying 

settlement above $50,000

 • $500 micro ether 

increment for underlying 

settlement at or below $50,000 

 • $100 micro ether 

increment for underlying 

settlement at or below $10,000

 • $50 micro ether 

increment for underlying 

settlement at or below $5,000

 • $10 micro ether 

increment for underlying 

settlement at or below $1,000

 • $5 micro ether 

increment for underlying 

settlement at or below $500

Prelisted strikes at $10,000, 

$5,000, $1,000, $500, and 

$100 ether increment.

Strikes listed for 300% above 

the at-the-money strike and 

100% below the at-the-money 

strike at:

 • $10,000 ether strike 

increment for underlying 

settlement above $50,000

 • $5,000 ether strike 

increment for underlying 

settlement at or below $50,000 

 • $1,000 ether strike 

increment for underlying 

settlement at or below $10,000

 • $500 ether strike 

increment for underlying 

settlement at or below $5,000

 • $100 ether strike 

increment for underlying 

settlement at or below $1,000

 • $50 ether strike 

increment for underlying 

settlement at or below $500

When less than 210 days 

remain until expiration (DTE), 

additional strikes listed for 

75% above the at-the-money 

strike and 25% below the atthe-money strike at:

 • $1,000 ether strike 

increment for underlying 

settlement above $50,000

 • $500 ether strike 

increment for underlying 

settlement at or below $50,000 

 • $100 ether strike 

increment for underlying 

settlement at or below $10,000

 • $10 ether strike 

increment for underlying 

settlement at or below $1,000

 • $5 ether strike 

increment for underlying 

settlement at or below $500

When less than 5 days remain 

until expiration (DTE), 

additional strikes listed for 

15% above the at-the-money 

strike and 5% below the atthe-money strike at:

Monday Weekly 

Options on Micro 

Ether Futures

V1A-V5A

Wednesday 

Weekly Options 

on Micro Ether 

Futures

V1C-V5C

Friday Weekly 

Options on Micro 

Ether Futures

V1E-V4E

Monthly Options 

on Micro Ether 

Futures

VM
5

When less than 14 days 

remain until expiration (DTE), 

additional strikes listed for 

15% above the at-the-money 

strike and 5% below the atthe-money strike at:

 • $500 micro ether 

increment for underlying 

settlement above $50,000

 • $250 micro ether 

increment for underlying 

settlement at or below $50,000 

 • $50 micro ether 

increment for underlying 

settlement at or below $10,000

 • $25 micro ether 

increment for underlying 

settlement at or below $5,000

 • $5 micro ether 

increment for underlying 

settlement at or below $1,000

 • $500 ether strike 

increment for underlying 

settlement above $50,000

 • $250 ether strike 

increment for underlying 

settlement at or below $50,000 

 • $50 ether strike 

increment for underlying 

settlement at or below $10,000

 • $25 ether strike 

increment for underlying 

settlement at or below $5,000

 • $5 ether strike 

increment for underlying 

settlement at or below $1,000

The Exchange is concurrently initially listing additional weekly options on Micro Bitcoin Futures and Micro 

Ether Futures contracts (see SER-9181 also dated April 17, 2023.) As a result, no weekly options will be 

listed on a day that falls on both a scheduled U.S. and U.K. holiday. In addition, the first trade date for all 

non-monthly options on Bitcoin Futures, Ether Futures, Micro Bitcoin Futures and Micro Ether Futures 

contracts will be added two (2) business days prior to the expiration date of the nearest related expiring 

options contract. 

The Commodity Futures Trading Commission (“CFTC”) will be notified of the amendments during the week 

of May 29, 2023, via the weekly notification procedures set forth in Part 40 of the CFTC’s Regulations.

Please refer questions to: 

Brian Burke Brian.Burke@cmegroup.com 001 212 299 2236

Giovanni Vicioso Giovanni.Vicioso@cmegroup.com 001 212 299 2163

Payal Shah Payal.Shah@cmegroup.com 0044 203 379 3307