Bakkt Releases Details of its Bitcoin Futures Contract – Real BTC Must be Bought to Close the Transaction

Bakkt has released the details of its BTC futures product on its site. It’s a physically settled product which means actual BTC must be bought to close the transaction.

ICE Futures U.S. offers physically delivered daily futures contracts on Bitcoin traded in BTC/USD (subject to regulatory approval). These contracts will be traded on ICE’s electronic trading platform, which offers industry-leading speed and reliability, regulated by the CFTC. All trades are cleared and guaranteed by ICE Clearing US, the central counterparty for all ICE cleared forex futures trades. Trades will result in physically delivered Bitcoin in the regulated Bakkt Warehouse. Market participants are eligible to transact with any other market participants. ICE physically delivered bitcoin futures offer trading and hedging opportunities.

Trading Screen Product Name
Bakkt BTC (USD) Daily Future
Trading Screen Hub Name
ICUS
Contract Series

Daily Futures

Commodity Code

BTC

Contract Size

1 Bitcoin

Price Quotation

U.S. dollars per Bitcoin to 2 decimal places

Minimum Price Fluctuation

$2.50 per bitcoin ($2.50 per contract).
Block Trades may be executed at $0.01 per bitcoin ($0.01 per contract)

Daily Price Limit

None

Eligible Contract Dates

Every Exchange Business Day

Listing Cycle

One Contract Date will be listed each Business Day

Settlement

Physical Delivery

Last Trading Day

6:00 p.m. Eastern Prevailing Time (EPT) on the Business Day of the Daily Contract Date

Last Delivery Day

Equal to the Daily Contract Date

Trading Hours

8:00 pm to 6:00 pm, preopen at 7:55 pm, all times EPT

Exchange Fees

$0.50 combined Exchange and Clearing fee, per side

Off Exchange Trade Types

Block Trades permitted

Block Trade Minimum

10 lots

NCR, RL and IPL Levels

NCR – 50.00;
RL: – 150.00;
IPL- 300.00,
5 second recalculation and hold periods.

Daily Settlement

4:58 to 5:00 pm EPT

Position Limit

100,000 lots in any Contract Date

MIC Code
IFUS
Clearing Venues
ICUS



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