CME Group offers BTIC for managing Bitcoin futures expirations

3 days ago 2



CME Group is putting its Basis Trade at Index Close (BTIC) functionality front and center for Bitcoin futures traders, giving market participants a structured way to manage basis risk as contracts approach expiration. The tool, which links futures execution directly to the CME CF Bitcoin Reference Rate, borrows a playbook that equity index traders have used for years and applies it to digital assets. How BTIC works across global sessions CME has structured BTIC trading across three regional sessions, each tied to its own reference rate and ticker. The London session trades under the BTB ticker, aligned with the 4 p.m. Bitcoin Reference Rate (BRR). New York gets the BNB ticker, pegged to the 4 p.m. BRRNY rate. The APAC session uses the ABB ticker. The minimum price increment for BTIC trades is $1 per Bitcoin on the agreed basis. For block trades, which allow large orders to be executed off the central order book, the minimum size is 5 contracts for standard Bitcoin futures BTIC. One important constraint: BTIC is unavailable on the last trade date of expiring contracts. For the August 2026 Bitcoin futures contract (ticker BTCQ26), that means trading ceases on August 28, 2026. Why bas...

Read Entire Article