<p>Derivatives exchange giant CME Group has <a href="https://www.cmegroup.com/cme-group-futures-exchange/options-bitcoin-futures.html">revealed</a> the planned launch date of its options on bitcoin futures. Pending regulatory approval, CME Group plans to launch the product on Jan. 13, 2020. O<span class="c-message__body" dir="auto" data-qa="message-text">ptions 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.</span></p> <p>In September, The Block <a href="https://www.theblockcrypto.com/linked/40440/cme-group-to-launch-bitcoin-options-in-q1-2020">reported</a> 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 <a href="https://www.theblockcrypto.com/linked/44494/bakkt-to-launch-options-for-its-bitcoin-futures-in-december">announced</a> in October that it was launching a competing options product on Dec. 9.</p>