CME sets date for options product tied to its bitcoin futures

Derivatives exchange giant CME Group has revealed the planned launch date of its options on bitcoin futures. Pending regulatory approval, CME Group plans to launch the product on Jan. 13, 2020. Options on futures contracts give the purchaser the right to buy or sell a specific futures contract at a predetermined price at the option's expiration date.

In September, The Block reported CME Group's new bitcoin options product was planned for the first quarter if 2020, but the exact date was unknown. International Continental Exchange-backed Bakkt announced in October that it was launching a competing options product on Dec. 9.