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COIL

<h2 id="tldr">TLDR</h2>
<ul>
 <li>The CFTC is preparing to seek public input on futures tied to AI computing capacity, according to an Aug. 17 Bloomberg report.</li>
 <li>CME Group is targeting Oct. 5 for two compute futures contracts based on Silicon Data’s GPU rental benchmarks.</li>
 <li>Intercontinental Exchange is developing separate compute contracts using Ornn’s Compute Price Index and NativX’s COIL Index.</li>
 <li>No formal CFTC request had appeared publicly as of Aug. 18, so the exact comment period and questions remain unconfirmed.</li>
 <li>Crypto mining firms like TeraWulf and Galaxy Digital are already shifting infrastructure toward AI hosting demand.</li>
</ul>
<p>The U.S. Commodity Futures Trading Commission is getting ready to ask the public for input on a new kind of futures contract. These contracts would be tied to the cost of artificial intelligence computing power, according to a <a href="https://www.bloomberg.com/news/articles/2026-08-17/regulator-seeks-to-take-comment-on-ai-compute-futures-contracts" rel="noopener noreferrer nofollow">Bloomberg report published Aug. 17.</a></p>
<p>The agency reportedly sent a draft request to the White House Office of Management and Budget for review. Once that review wraps up, the CFTC could open a public comment period lasting 30 or 60 days.</p>
<p>As of Aug. 18, no request had shown up on the CFTC’s public comment pages or in the Federal Register. That means the specific questions, deadlines, and impact on pending contracts are still unknown.</p>
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 <blockquote class="twitter-tweet">
  <p>The Commodity Futures Trading Commission wants to take public comment on one of the hottest new areas of derivatives trading: computing capacity, a critical input for the burgeoning AI industry <a href="https://t.co/PdhKLrELTx" rel="noopener noreferrer nofollow">https://t.co/PdhKLrELTx</a></p>
  <p>— Bloomberg (@business) <a href="https://x.com/business/status/2089371706557084047?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">August 17, 2026</a></p>
 </blockquote>
</div>
<h2 id="how-the-cftc-review-works">How The CFTC Review Works</h2>
<p>A request for public comment is not the same as a proposed rule. It also would not automatically stop CME from launching its contracts unless the CFTC raises objections or asks for more review.</p>
<p>The CFTC’s questions are expected to go beyond approving a single contract. Regulators may want to know how reliable the pricing benchmarks are and whether the market can resist manipulation.</p>
<p>Other likely topics include settlement methods, trading liquidity, and how to define a standard unit of computing power. Bloomberg reported that the review could complicate launch timing for both CME and ICE, though the CFTC has not confirmed any delay.</p>
<h2 id="cme-and-ice-are-building-competing-contracts">CME And ICE Are Building Competing Contracts</h2>
<p><a href="https://www.cmegroup.com/media-room/press-releases/2026/5/12/cme_group_and_silicondatapartnertolaunchfirstcomputefutures.html?utm_source=chatgpt.com" rel="noopener noreferrer nofollow">CME and Silicon Data announced their partnership back on May 12</a>. The planned contracts would track daily benchmarks measuring on demand GPU rental rates.</p>
<p>Silicon Data collects pricing data across GPU markets, where costs shift based on hardware type, provider, region, and contract length. CME says a standardized benchmark could make those scattered prices easier to compare.</p>
<p>CME Chairman and Chief Executive Terry Duffy called compute “the new oil of the 21st century” when the plan was announced. That is CME’s own description of the market rather than a formal regulatory label.</p>
<p>The Oct. 5 date being reported now did not appear in CME’s original May announcement. The exchange has said any launch stays subject to regulatory review.</p>
<p>ICE announced its own plans in May for cash settled contracts using Ornn’s Compute Price Index. That index tracks prices across GPU models including Nvidia’s H100, H200, B200, and RTX 5090 chips.</p>
<p>ICE also plans a separate product using NativX’s COIL Index, which tracks compute and connectivity costs adjusted for energy use. Those contracts would trade alongside ICE’s existing electricity and natural gas products.</p>
<p>Neither ICE project has a confirmed launch date yet. Having multiple competing benchmarks could give traders more choice, but it might also spread trading activity thin across different contracts.</p>
<p>This new derivatives market comes as AI infrastructure spending keeps climbing across the U.S. Some crypto mining companies have already converted power and cooling infrastructure toward AI hosting work.</p>
<p>TeraWulf reportedly earned more revenue from AI hosting than Bitcoin mining during the first quarter of 2026. Galaxy Digital also delivered 133 megawatts of computing capacity to CoreWeave under a 15 year deal at a former mining site in Texas.</p>
<p>The next concrete step is for the OMB to finish its review and for the CFTC to publish its formal request. CME will also need to complete the standard contract filing process with the CFTC before any product can trade, keeping Oct. 5 a target date rather than a locked in launch.</p>
<p>The post <a href="https://blockonomi.com/cme-targets-october-5-for-new-ai-compute-futures-contracts/" rel="noopener noreferrer nofollow">CME Targets October 5 For New AI Compute Futures Contracts</a> appeared first on <a href="https://blockonomi.com" rel="noopener noreferrer nofollow">Blockonomi</a>.</p>

CME Targets October 5 For New AI Compute Futures Contracts

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