CME to launch Bitcoin futures

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(Reuters) – CME Group Inc, the world’s largest futures market operator, said on Tuesday it intends to launch Bitcoin futures in the fourth quarter of 2017, pending regulatory approvals.

FILE PHOTO: A Bitcoin logo is displayed at the Bitcoin Center New York City in New York’s financial district, U.S. on July 28, 2015. REUTERS/Brendan McDermid/File Photo

The new contract will be settled in cash, based on the CME CF Bitcoin Reference Rate (BRR), a once-a-day reference rate of the U.S. dollar price of Bitcoin.

Reporting by Diptendu Lahiri in Bengaluru; Editing by Sriraj Kalluvila

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