GPU Futures Hopes Hit Another Roadblock as CME Delays Launch for Second Time

The launch of futures tied to rental prices on Nvidia GPUs has hit a second snag after the CME agreed to delay its launch for another 60 days, taking any approval into January.

The Commodity Futures Trading Commission asked the CME, the exchange behind the likely first product to be brought to market, to voluntarily delay the introduction of its project, according to a letter the exchange sent to the commission on November 4.

The exchange agreed, citing an intention to give the commission “further opportunity to consider the issues raised as a result of the submission,” the CME wrote in its letter. It also noted that its agreement is “conditioned on other commission registrants not self-certifying, obtaining commission approval, or otherwise listing comparable contracts during the pendency of this extended review period.”

It is the second time the CME has pushed back the date. The CFTC extended its review period for the first time in September, after opening a request for comment period. That dealt an initial blow to CME’s initial plan to launch futures on October 5. The comment period ended October 20.

Companies and individuals submitted dozens of letters to the CFTC during the comment period, with many pushing the CFTC to create a set of conditions the indices that underlie the products must meet before any futures would be approved. The CME futures are based on the Silicon Data H100 Rental Index and Silicon Data B200 Rental Index.

In addition to CME, rival exchange firm Intercontinental Exchange has announced plans to launch GPU futures, but hasn’t set a specific date. Upstart exchanges too are vying to offer similar contracts.