CME Sets Oct. 15 Effective Date for GPU Rental Forward Curves

CME Group set Oct. 15 as the effective date for distributing nontradable forward curve pricing for Silicon Data’s H100 and B200 GPU rental indexes, adding the benchmarks to its planned market-data feeds.

The planned distribution route includes CME MDP 3.0 and CME Data Insights — Settlements and Valuations. CME also made the data available for customer testing in its New Release environment. The indexes are labeled GPU1 and GPU2.

Silicon Data introduced the curves April 20. They extend up to 36 months and are recalculated each business day. The curves include rental rates for different contract terms and implied rates mathematically derived for future rental periods.

The pricing feed is separate from CME’s proposed futures: the feed itself cannot be traded. Each proposed contract would represent 730 GPU-hours and settle financially. CME initially targeted an Oct. 5 launch, subject to regulatory review, in its plan for the two compute futures.

The Commodity Futures Trading Commission (CFTC) extended its review of both contracts by 45 days on Sept. 21, setting Nov. 9 as the end of the review period and identifying novel or complex issues. Both proposed contracts carried ‘Approval Pending (90)’ status dated Sept. 21.

The curves provide rental pricing across contract terms and implied rates for future periods. The proposed futures would be separate financial contracts tied to the same H100 and B200 benchmarks. The CFTC review period runs through Nov. 9.