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Compute Futures

Where Can I Trade Compute Futures?

On 5 October 2026, subject to regulatory review, the hourly cost of GPU compute gets a listed forward price for the first time.  This page answers the questions people are actually asking about it, in plain terms, from the primary sources.
The Contracts

What Is Actually Listing

Detail
ContractsSilicon Data H100 Rental Index Futures and Silicon Data B200 Rental Index Futures
ExchangeNYMEX, a CME Group exchange
Listing date5 October 2026, pending regulatory review
What they trackIndices measuring hourly GPU rental cost, published by Silicon Data
Contract sizeEach contract represents a month of rent for the referenced chip
SettlementCash settled against the monthly average of the daily index
Who CME names as usersBusinesses managing the cost of compute, AI developers and hyperscalers, and companies building AI infrastructure
Source: CME Group and Silicon Data announcements of 12 May 2026 and 11 August 2026.  The listing remains subject to regulatory review and the specification may change.
Why It Matters

Compute is the largest cost line for an AI business and the revenue line for the assets lenders finance against, and until now it has had no forward price.  A listed contract is what turns an unmanageable exposure into a hedgeable one.

The Common Question

Where Can I Buy Compute Futures?

The honest answer, because the wrong answer gets people into trouble.

Through a futures commission merchant: a registered futures broker with access to NYMEX.  Trading compute futures works the same way as trading natural gas or crude oil.  You open an account with a broker, you post margin, and you trade the listed contract on the exchange.  There is no separate venue and no token.

Compute Capital Partners is not a broker.  We do not execute trades for the public, we do not hold client money, and nothing on this website is an offer of any security or commodity interest.  What the Firm does is research, price, structure and mark this exposure for institutional counterparties who hold it commercially.  If you are an individual looking to speculate on GPU prices, a futures broker is who you need, not us.

Before The Hedge Ratio, The Facility

The first question we ask any prospective client is not how much to hedge.  It is whether the liquidity facility is sized.  A hedge is margined and the underlying asset is not, so when price spikes the hedge pays out in cash immediately while the offsetting gain arrives slowly as revenue.  European utilities needed state support in 2022 for exactly this reason.

Who Hedges

Which Side Of The Curve Are You On?

SHORT COMPUTE

AI Labs And Enterprise Buyers

Budgets are set annually against a price that fell 75 percent in thirty months and partly recovered.  The exposure is cost rising.

Buy the nearby strip
LONG COMPUTE

Neoclouds And GPU Lessors

Unhedged rental revenue against dated debt.  The exposure is the rate falling before the debt is repaid.

Sell the belly
LONG RESIDUAL

GPU-Backed Lenders

Collateral value is set by expected rental income beyond the contracted term.  A hedged revenue line takes a smaller haircut and supports more debt.

Sell deferred, or buy puts
LONG THE SPREAD

Developers And IPPs

The margin between power bought and compute sold.  The exposure is both legs at once, on a project with a dated build.

Hedge the spread, not the leg
Straight Answers

Questions We Get Asked

Where can I trade compute futures?
Through a futures commission merchant, which is a registered futures broker with access to NYMEX.  Trading compute futures works the same way as trading natural gas or crude oil: you open a futures account with a broker, post margin, and trade the listed contract on the exchange.  There is no separate venue and no token.
When do compute futures start trading?
CME Group and Silicon Data list H100 and B200 Rental Index Futures on the New York Mercantile Exchange (NYMEX), with first trade on 05 October 2026, subject to regulatory review.
What are compute futures?
Exchange-listed contracts on the hourly rental cost of GPU compute.  Each contract represents a month of rent for the referenced chip and settles in cash against a published rental index rather than against delivery of anything physical.
Is this the same as buying GPUs?
No.  Nothing is delivered.  You are fixing a price, not taking possession of hardware.  That is the point: it lets a buyer lock cost and a seller lock revenue without either of them moving a machine.
What index do they settle to?
The Silicon Data H100 and B200 rental indices.  Before any party takes settlement risk, the methodology, the panel composition, and the correction and cessation provisions are worth reading closely.  That is a live diligence item, not a formality.
Can I trade this in a retirement account or through a stock broker?
Futures require a futures account with a registered broker, which is not the same as a brokerage account for shares.  Trading futures involves substantial risk of loss and is not suitable for every investor.
Is compute really a commodity now?
It is becoming one.  Over-the-counter compute forwards and GPU residual value swaps already trade bilaterally, prediction markets publish an implied forward curve, and three exchanges have announced compute derivatives.  In every commodity that came before, instruments arrived before liquidity did.
What does Compute Capital Partners do here?
Four things: a relative-value trading book, research and benchmark advisory, hedging structuring for operators and lenders, and a development overlay for data center projects.  Three of the four scale with client count rather than with exchange volume.
SourcesBuilt from public disclosures, exchange and index provider announcements, regulatory filings and licensed market data as of September 2026.  Company, exchange and index names appear for illustration only and no affiliation with or endorsement by any of them is implied.

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