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CME to launch Bitcoin futures

Oct 31 (Reuters) - CME Group Inc, the world's largest futures market operator, said on Tuesday it intends to launch Bitcoin futures in the fourth quarter of 2017, pending regulatory approvals.

The new contract will be settled in cash, based on the CME CF Bitcoin Reference Rate (BRR), a once-a-day reference rate of the U.S. dollar price of Bitcoin. (Reporting by Diptendu Lahiri in Bengaluru; Editing by Sriraj Kalluvila)