Cryptocurrency platform of the operator of the new York stock exchange Bakkt unveiled new details of its bitcoin futures product that, as previously assumed, was supposed to start on January 24. Although the submitted data do not fundamentally change, market participants may be interested to learn some details of the contracts.

According to the publication, the display name of the product on the ICE platform will be “Bakkt BTC (USD) Daily Future”. Each contract will cost 1 BTC, and will be calculated on the basis of the price in US dollars with two decimal places. Consider the minimum price fluctuation is $2.50 on bitcoin. For large transactions of 10 BTC includes the ability to determine prices with a precision of $0.01.

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

Trade on Bakkt will be conducted from 20:00 to 18:00 following day new York time, and all calculations are performed with 16:58 to 17:00. Pre-opening auction will be at 19:55. As previously reported, every day Bakkt will conduct the listing of a new futures contract on bitcoin with the aim of implementing technical trading.

Despite the obvious willingness to start trading Bakkt have to wait until the resolution of the Commission on trade commodity futures U.S. (CFTC), which was not made in a timely manner due to the shutdown of the U.S. government. However, the company says it does not freeze development, despite the forced change of plans. At the end of last year Bakkt has closed its first round of financing, bringing $182,5 million Later, the platform announced the acquisition of the assets of the authorized intermediary in futures transactions Rosenthal Collins Group, recently announced the recruitment of new staff.

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