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
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Daily Futures
- Commodity Code
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BTC
- Contract Size
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1 Bitcoin
- Price Quotation
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U.S. dollars per Bitcoin to 2 decimal places
- Minimum Price Fluctuation
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$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
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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
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Equal to the Daily Contract Date
- Trading Hours
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8:00 pm to 6:00 pm, preopen at 7:55 pm, all times EPT
- Exchange Fees
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$0.50 combined Exchange and Clearing fee, per side
- Off Exchange Trade Types
-
Block Trades permitted
- Block Trade Minimum
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10 lots
- NCR, RL and IPL Levels
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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