Published August 21, 2026 · Updated August 21, 2026
Compute Futures Contract Specifications
This page contains the known contract specifications for CME Group compute futures (H100 and B200, launching October 5, 2026) and ICE/Ornn GPU compute futures (announced May 2026, date TBD). ComputeWatcher updates these tables as specifications are confirmed by the exchanges.
Disclaimer: Specifications below are drawn from public CME announcements, the CME contract listing notice (SER-9785), and ICE/Ornn press materials. Full CFTC-reviewed specifications will be published by the exchanges prior to launch. This page does not constitute investment advice.
CME Compute Futures - H100
| Specification | Detail | Status |
|---|---|---|
| Contract name | Silicon Data H100 GPU Rental Index Futures | Confirmed |
| Exchange | NYMEX (CME Group) | Confirmed |
| First trade date | October 5, 2026 | Confirmed, pending regulatory review |
| Settlement type | Cash-settled | Confirmed |
| Settlement index | Silicon Data H100 GPU Rental Price Index | Confirmed |
| Index provider | Silicon Data | Confirmed |
| Contract unit | One month of H100 GPU rental at index price | Confirmed |
| Currency | USD | Confirmed |
| Tick size | To be confirmed | Pending |
| Listing months | To be confirmed | Pending |
| Initial margin | To be set by CME Clearing | Pending |
| Trading hours | CME Globex (electronic) | Pending |
CME Compute Futures - B200
| Specification | Detail | Status |
|---|---|---|
| Contract name | Silicon Data B200 GPU Rental Index Futures | Confirmed |
| Exchange | NYMEX (CME Group) | Confirmed |
| First trade date | October 5, 2026 | Confirmed, pending regulatory review |
| Settlement type | Cash-settled | Confirmed |
| Settlement index | Silicon Data B200 GPU Rental Price Index | Confirmed |
| Index provider | Silicon Data | Confirmed |
| Contract unit | One month of B200 GPU rental at index price | Confirmed |
| Currency | USD | Confirmed |
| Tick size | To be confirmed | Pending |
| Listing months | To be confirmed | Pending |
| Initial margin | To be set by CME Clearing | Pending |
ICE / Ornn GPU Compute Futures
| Specification | Detail | Status |
|---|---|---|
| Exchange | ICE (Intercontinental Exchange) | Confirmed |
| Index provider | Ornn | Confirmed |
| Settlement index | Ornn Compute Price Index (OCPI) | Confirmed |
| Index methodology | Printed transactions only (not listed offers) | Confirmed |
| Index distribution | Bloomberg Terminal | Confirmed |
| Models covered | H100, H200, B200, B300, RTX 5090 | Confirmed |
| Settlement type | Cash-settled, USD | Confirmed |
| Launch date | To be announced | Announced May 2026 |
| Tick size | To be confirmed | Pending |
| Contract size | To be confirmed | Pending |
Settlement Index Comparison
| Attribute | Silicon Data (CME) | Ornn OCPI (ICE) |
|---|---|---|
| Data source | Listed offers + transactions | Printed transactions only |
| Calculation method | Volume-weighted, trimmed mean | Transaction-based, trimmed mean |
| Publication frequency | Daily | Daily |
| Public access | Proprietary | Bloomberg Terminal |
| GPU models | H100, B200 (initial) | H100, H200, B200, B300, RTX 5090 |
| Regional breakdowns | Hyperscaler vs. neocloud splits | Unknown |
The methodological difference between the two indexes matters for basis risk. A participant using CME futures to hedge costs incurred at a specific provider faces basis risk if that provider’s pricing diverges from the Silicon Data composite. Ornn’s transaction-based methodology may produce a tighter settlement benchmark for institutional participants whose contracts are themselves based on actual executed prices.
What to Watch as Specs Are Finalized
- Tick size and minimum price increment - determines the minimum P&L per contract and market microstructure
- Listing months - how many forward months will be listed at launch (likely 3–12 months initially)
- Initial margin rate - set by CME Clearing based on historical index volatility
- Block trade minimums - relevant for large institutional hedges
- ICE launch date - whether ICE launches before or after CME will affect early liquidity dynamics
ComputeWatcher will update this page when CME publishes the full contract specification and when ICE confirms additional details. Subscribe to the weekly digest for updates.
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