Bakkt ® Bitcoin (USD) Cash Settled Monthly Futures73194874

Bakkt ® Bitcoin (USD) Cash Settled Monthly Futures

Description

A cash-settled monthly futures contract for Bitcoin

Market Specifications

Trading Screen Product Name
Bakkt BTC (USD) Cash Settled Monthly Futures
Trading Screen Hub Name
ICSG
Commodity Code
BMC
Contract Size
1 Bitcoin
Price Quotation
US Dollars per bitcoin, to two 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
Listing Cycle
Up to 12 consecutive contract months
Final Settlement
The final settlement price will be calculated by reference to the equivalent ICE Futures U.S. (“IFUS”) Bakkt® Bitcoin (USD) Monthly Futures Contract.

ICE Clear Singapore (“ICSG”) will record cash settlement as of the Business Day (as defined in the ICSG rules) which is the day on which trading has ceased in accordance with these specifications, with such update being effected on the following Business Day, subject in all cases to any relevant term in ICSG’s Finance Procedures and its Rules which may affect the timing of such payment.
Last Trading Day
Trading ceases at 2:30 PM Eastern Prevailing Time (EPT) on the same day on which the equivalent IFUS Bakkt® Bitcoin (USD) Monthly Futures Contract expires. In all cases, such other dates as the Exchange specifies on its website from time to time may apply instead.
Off Exchange Trade Types
EFRP and Block Trades permitted

The above permissions are made in accordance with, and subject to further changes pursuant to, Exchange Rule G.2.
Block Trade Minimum
10 lots

The above minimum is established in accordance with, and subject to further changes pursuant to, Exchange Rule G.2.
NCR, RL and IPL Levels
No Cancellation Range: USD 50.00
Reasonability Limit: USD 150.00
Interval Price Limit (first band): USD 300.00, 5 second recalculation and 5 second hold periods

The above No Cancellation Range and Reasonability Limit are established in accordance with, and subject to further changes pursuant to, paragraphs 11.6 and 2.3A respectively of the Exchange Trading Procedures. For further details and the most up-to-date range and limit click here.

The above Interval Price Limit is established in accordance with, and subject to further changes pursuant to, Exchange Rule G.13. For further details and the most up-to-date limit click here.
Daily Settlement Window
4:58 to 5:00 pm SGT

The above designated settlement period is established in accordance with, and subject to further changes pursuant to, paragraph 2.4.4 of the Exchange Trading Procedure.
Position Limit
100,000 lots in respect of any single Contract Month or all Contract Months combined

The above Position Limits are established in accordance with, and subject to further changes pursuant to, Exchange Rule J.3(a).
Disclaimer
In the event that IFUS takes or proposes to take any action in connection with the matters described in IFUS Rule 24.3 (as modified or supplemented from time to time), the Exchange or ICSG may modify any Contract (as defined in either of the Exchange or ICSG rules) in a manner, and to the extent which is, consistent with such action by IFUS.

“Bitcoin”, “bitcoin” or “BTC” includes assets supported by IFUS from time to time in connection with IFUS Rule 24.3 (as modified or supplemented from time to time).

For the avoidance of doubt, in the event of any inconsistency between any Exchange or ICSG rules (including these specifications), on one hand, and any terminology or documentation which is used or made available by the Exchange or ICSG (such as without limitation technical release notes and user guides) on the other hand, the former will prevail. When used in these specifications, “day” refers to a Singapore calendar day, as the context admits.

To retail investors: Futures contracts based on bitcoin may pose specific risks. Such risks may arise from greater volatility in prices resulting from a range of factors. Those risks could in turn affect financial outcomes associated with maintaining required margins or any losses at final contract settlement.
MIC Code
IFSG
Clearing Venues
ICSG

Trading Hours

CityTradingPre-Open
New York8:00 PM - 6:00 PM*
20:00 - 18:00
7:55 PM
19:55
London12:00 AM - 10:00 PM*
00:00 - 22:00
11:55 PM
23:55
Singapore8:00 AM - 6:00 AM*
08:00 - 06:00
7:55 AM
07:55

*Next Day

Codes

Clearing Admin Name
Bakkt BTC/USD M
Physical
BMC
Logical
BTM
GMI (FC)
ION A.C.N.