Binance Sets 30-Minute Average for Commodity Options Settlements

Binance will settle its commodity options using a 30-minute average of the Binance Futures Index Price, bringing the calculation in line with the exchange’s method for crypto options. The change applies first to contracts expiring at 5 p.m. ET Nov. 23.

Under the revised rule, the settlement price will be the arithmetic mean of the index price during the half-hour before expiration. The existing method uses the underlying market’s closing price at 5 p.m. ET on the expiration date.

Expiration time determines which method applies. Binance is keeping expiration times, trading sessions and contract specifications unchanged.