Each future listed above also has calendar spreads. Each calendar spread has a leg ratio of -1:+1. That is to say, when you buy a calendar spread you are selling the front month and buying the back month. This means that buying the spread is a roll from the long perspective. Leg 1 is always used as the anchor for pricing purposes. This means that when a calendar spread match occurs, we calculate the Leg 2 price by adding the match price to the last known price of Leg 1.
Bitnomial trading systems use the Product ID to uniquely identify listed products. For convenience, Product Codes are also assigned but not used by the trading systems.
Bitnomial Product Codes are composed of three alphanumeric characters:
For example, the standard-Bitcoin-US Dollar futures contract breakdown is as follows:
B
for BitcoinU
for US DollarS
for StandardBitnomial uses SI units for contract size codes when convenient.
For example, the 1⁄10 Bitcoin contract, the DeciBitcoin contract, is I
not D
to avoid confusion with “deca”.
The DeciBitcoin-US Dollar futures contract breakdown is as follows:
B
for BitcoinU
for US DollarI
for DeciAs stated on the Bitcoin US Dollar Deci Futures Page the contract size is 1⁄10 Bitcoin. This means that to get exposure to 1 BTC you’d have to buy 10 BUI contracts. Conversely, you could buy 1 BUS contract since it’s contract size is 1 Bitcoin.
Additionally, the Hashrate US Dollar Petahash futures contract breakdown is as follows:
H
for HashrateU
for US DollarP
for PetaBitnomial quotes products in ticks in order to normalize the prices traders see across products. A tick is the minimum amount a price can move at once. For example, the minimum price fluctuation for BUS contracts is $1 per Bitcoin ($1 per contract). This means that if you have a position of 1 BUS and it ticks one tick higher, your PnL is $1. Conversely, the BUI minimum price fluctuation is $1 per Bitcoin ($0.10 per contract). So if you have a position of 1 BUI and it ticks 1 tick higher, your PnL is $0.10.
CQG attempts to maintain a uniquely identifiable symbol name across all exchanges. Bitnomial has
been assigned the prefix B
, making the BUS
contract BBUS
on CQG.