Bakkt platform introduced new Bitcoin futures details
21.02.19
Cryptocurrency platform operator New York Stock Exchange Bakkt has published new details of its bitcoin-futures product. Previously it was assumed that the new service was supposed to start on January 24th. The newly submitted information does not fundamentally change anything, but the community may be interested in the details of the design of contracts.

Thus, the product of bitcoin futures on the ICE platform is called “Bakkt BTC (USD) Daily Future”. Each contract will cost 1 BTC and be calculated on the basis of the price in US dollars with two decimal places. The minimum price fluctuation recorded is $ 2.50 per bitcoin. For large transactions from 10 BTC, the possibility of determining the price with an accuracy of $ 0.01 is available.

Bakkt will not set daily limits on price fluctuations, but will set a limit of 100,000 lots per position for any given date. Participants in transactions from each of the parties will pay a $ 0.50 commission, which will cover the costs of clearing and exchange.

Trading on Bakkt will be conducted from 20:00 to 18:00 the next day, New York time, and all calculations will be made from 16:58 to 17:00. Bidding will be pre-opened at 19:55. Every day Bakkt will list new Bitcoin futures contract for the technical implementation of trade.

Recall: at the end of last year Bakkt closed its first round of raising funds. The company collected $ 182.5 million.