Effective on Monday, June 9, 2025, Cboe Digital Exchange, LLC (CDE) will transfer its financially-settled margin futures on Bitcoin (FBT) and Ether (FET) to Cboe Futures Exchange, LLC (CFE), subject to regulatory review.
Timeline and Transition Process:
June 6, 2025 (Friday, 4:00 p.m. CT):
CDE will close trading for FBT and FET futures.
Pending orders (Good Till Cancelled or Good Till Date) in FBT and FET futures on CDE will be cancelled after the close of trading on June 6, 2025.
June 8, 2025 (Sunday, 5:00 p.m. CT):
CFE will open for trading on FBT and FET futures for the June 9 trade date.
All open interest in FBT and FET futures from CDE will be transferred to CFE, with equivalent positions on the CFE exchange.
June 9, 2025 (Monday):
FBT and FET futures will be available for trading on CFE starting at 5:00 p.m. CT on June 8.
Trading and Contract Details:
The contract specifications for FBT and FET futures will be materially the same on CFE as they were on CDE.
The trading symbols for Bitcoin (FBT) and Ether (FET) futures will remain unchanged once transferred to CFE.
CFE rules will apply to these futures after the transfer, with all order types currently supported on CDE also supported on CFE.
Clearing and Market Participation:
Transactions in FBT and FET futures will continue to clear through Cboe Clear U.S., LLC (CCUS).
Market participants not directly trading on CFE can submit orders through a broker that has CFE Trading Privilege Holder (TPH) status.
To trade on CFE, a TPH will need to have a clearing guarantee from a CFE clearing member that is also a CCUS Clearing Member.
CFE TPHs will receive separate Executing Firm IDs (EFIDs) for FBT and FET futures.
Post-Transition Statistics:
CDE will publish final market statistics and open interest for FBT and FET futures on the morning of June 9, 2025.
CFE will publish daily market statistics and open interest on June 9, 2025 for the transferred FBT and FET futures, as well as any updates from transactions on CFE during the trade date.
