Micro Cryptocurrency futures and options
Manage bitcoin and ether exposure with greater precision and flexibility. Enjoy the features of larger contracts and the access of a smaller contract size. See why over 25 million contracts have traded – and counting.
More access, less margin
Enjoy nearly 24-hour access, price discovery, reduced counterparty risk, and more with the lower initial margin of smaller contracts. Add the potential savings of margin offsets.
Fine-tune your exposure
Add precision to your trading strategies and scale positions up or down incrementally using contracts that are 1/10 the size of one bitcoin or one ether.
Trade in a regulated marketplace
CFTC oversight helps ensure integrity in our markets, where all participants see the same contract prices and quotes on contracts settled to CME CF Reference Rates.
Micro Cryptocurrency products
Access the evolving cryptocurrency market with a smaller financial commitment
Building on the strength and liquidity of Bitcoin and Ether futures, Micro Cryptocurrency futures and options enable market participants to efficiently hedge market-moving events with greater precision and flexibility, enabling traders of all sizes to access crypto market exposure.
Contract specifications
| Micro Bitcoin futures (MBT) | Micro Bitcoin Euro futures (EBM) | Micro Ether futures (MET) | Micro Ether Euro futures (EEM) | Bitcoin Friday Futures (BFF) | |
|---|---|---|---|---|---|
| CONTRACT UNIT | 0.10 bitcoin | 0.10 bitcoin | 0.10 ether | 0.10 ether |
0.02 bitcoin, as defined by the CME CF Bitcoin Reference Rate New York Variant (BRRNY) |
| PRICE QUOTATION | U.S. dollars and cents per bitcoin | EUR per bitcoin | U.S. dollars and cents per ether | EUR per ether |
U.S. dollars and cents |
| TRADING HOURS |
CME Globex: Sunday - Friday 5:00 p.m. - 4:00 p.m. CT with a 60-minute break each day beginning at 4:00 p.m. CT BTIC: Sunday - Friday 5:00 p.m. - 4:00 p.m. CT with a trading halt from 4:00 - 4:30 p.m. London Time (10:00/11:00 - 10:30/11:30 a.m. CT) and a daily maintenance period from 4:00 - 5:00 p.m. CT. CME ClearPort: Sunday 5:00 p.m. - Friday 5:45 p.m. CT with no reporting Monday - Thursday 5:45 p.m. – 6:00 p.m. BTIC: Sunday 5:00 p.m. CT - Friday 5:45 p.m. CT with a trading halt from 4:00 - 4:30 p.m. London Time (10:00/11:00 - 10:30/11:30 a.m. CT) with no reporting Monday – Thursday 5:45 – 6:00 p.m. CT |
CME Globex: CME ClearPort: |
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| MINIMUM PRICE FLUCTUATION |
Outright: BTIC: $1.00 per bitcoin = $0.10 CALENDAR SPREAD $1.00 per bitcoin = $0.10 |
Outrights: €5 per bitcoin = €0.50 per contract BTIC: €1.00 per bitcoin = €0.10 Calendar Spreads: €1 per bitcoin = €0.10 per contract |
Outright: BTIC: $0.10 per ether = $0.01 per contract CALENDAR SPREAD $0.10 per ether = $0.01 per contract |
Outright: €0.50 per ether = €0.05 per contract BTIC: €0.10 per ether = €0.01 per contract Calendar Spread: €0.10 per ether = €0.01 per contract |
Outright: $5.00 per bitcoin = $0.10 per contract Calendar Spread: $1.00 per bitcoin = $0.02 per contract |
| PRODUCT CODE | CME Globex: MBT CME ClearPort: MBT Clearing: MBT BTIC: MIB |
CME Globex: EBM CME ClearPort: EBM Clearing: EBM |
CME Globex: MET CME ClearPort: MET Clearing: MET BTIC: EMB |
CME Globex: EEM CME ClearPort: EEM Clearing: EEM |
CME Globex: BFF |
| LISTED CONTRACTS | Monthly contracts listed for 6 consecutive months, quarterly contracts (Mar, Jun, Sep, Dec) listed for 4 additional quarters and a second Dec contract if only one is listed. |
Friday contracts listed for 2 consecutive weeks |
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| SETTLEMENT METHOD | Financially Settled | ||||
| FLOATING PRICE | BRR Index - index provided by CF Benchmarks | BTCEUR_RR Index provided by CF Benchmarks | ETHUSD_RR - index provided by CF Benchmarks | ETHEUR_RR Index provided by CF Benchmarks |
BRRNY Index - index provided by CF Benchmarks |
| Options on Micro Bitcoin futures | Options on Micro Ether futures | |
|---|---|---|
| Contract Size | One Micro Bitcoin futures contract (futures contract = 0.10 bitcoin) | One Micro Ether futures contract (futures contract = 0.10 ether) |
| Trading Hours and Venue | CME Globex: Sunday - Friday 6:00 p.m. - 5:00 p.m. ET (5:00 p.m. - 4:00 p.m. CT) with a 60-minute break each day beginning at 5:00 p.m. ET (4:00 p.m. CT) ClearPort: 6:00 p.m. Sunday to 6:45 p.m. Friday ET (5:00 p.m. - 5:45 p.m. CT) with a 15-minute maintenance window between 6:45 p.m. - 7:00 p.m. ET (5:45 p.m. - 6:00 p.m. CT) Monday - Thursday. |
|
| Minimum Price Fluctuation | Outright: $5.00 per bitcoin = $0.50 per contract for premium above $2.00 per bitcoin Reduced tick and Spread: $1.00 per bitcoin = $0.10 per contract for premium less than or equal to $25.0 per bitcin |
Outright: $0.50 per ether = $0.05 per contract |
| Product Code | CME Globex: Monday Weekly: W1A - W5A Tuesday Weekly: W1B - W5B Wednesday Weekly: W1C - W5C Thursday Weekly: W1D - W5D Friday Weeks 1,2,3,4: W1E - W4E Monthly: WM |
CME Globex: Monday Weekly: V1A - V5A Tuesday Weekly: V1B - V5B Wednesday Weekly: V1C - V5C Thursday Weekly: V1D - V5D Friday Weeks 1,2,3,4: V1E - V4E Monthly: VM |
| Exercise Procedure | European Style (with no contrary instructions) | |
| Listing Schedule | One nearest Monday Weekly contract One nearest Wednesday Weekly contract Four nearest weekly Friday contracts of Weeks 1,2,3,4 Two nearest Monthly contracts |
|
| Minimum Block Threshold | 10 contracts | 100 contracts |
| Block Reporting Window | RTH: 5 minutes ETH/ATH: 15 minutes |
|
| Strike Price Listing Schedule | Strike listing reflects the underlying price of the token and days until expiration. View the FAQ for more information. | |
Research and analysis
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