Chapters
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Chapter 2: Governance
- Rule 201: Ownership
- Rule 202: Board
- Rule 203: Officers
- Rule 204: Qualifications of Directors; Eligibility/Fitness
- Rule 205: Standing Committees
- Rule 206: Confidentiality
- Rule 207: Conflicts of Interest
- Rule 208: Maintenance of Books and Records
- Rule 209: Information-Sharing Arrangements
- Rule 210: Regulatory Services Provider
- Rule 211: Use of Proprietary Data and Personal Information
- Rule 212: Reporting Requirements
- Rule 213: Emergency Rules
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Chapter 3: Participation
- Rule 301: Jurisdiction
- Rule 302: Participants
- Rule 303: Requirements for Participants
- Rule 304: Compliance with Minimum Financial Requirements, Financial Reporting Requirements, and Requirements Relating to Protection of Customer Funds
- Rule 305: Duties and Responsibilities of Participants
- Rule 306: Authorized Users
- Rule 307: Duties and Responsibilities of Authorized Users
- Rule 308: Clearing Members Accessing the Exchange
- Rule 309: Required Notices
- Rule 310: Account Administrators
- Rule 311: Access Requirements and Terms
- Rule 312: Dues and Fees
- Rule 313: Inspections by the Exchange
- Rule 314: Incentive Programs
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Chapter 4: Business Conduct And Trading Practices
- Rule 401: Business Conduct
- Rule 402: General Trading Practices
- Rule 403: Pre-Arranged, Pre-Negotiated, and Noncompetitive Trades Prohibited
- Rule 404: Disciplinary Procedures; Termination of Connection
- Rule 405: Position Limits
- Rule 406: Position Accountability
- Rule 407: Reports of Large Positions
- Rule 408: Aggregation of Positions
- Rule 409: Reporting Levels, Position Accountability Levels and Position Limits
- Rule 410: Information Disclosure and Documentation
- Rule 411: Compliance
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Chapter 5: Market Operations
- Rule 501: Market Hours and Operation
- Rule 502: Contracts Offered
- Rule 503: User IDs
- Rule 504: Exchange Trading
- Rule 505: Block Trades
- Rule 506: Exchange for Related Position [Reserved]
- Rule 507: Position Transfers
- Rule 508: Trade Cancellations; Trade Reviews
- Rule 509: Settlement
- Rule 510: Recordkeeping; Audit Trail
- Rule 511: Customer Type Indicator Codes
- Rule 512: Information Regarding Orders
- Rule 513: Disaster Recovery; Business Continuity
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Chapter 6: Discipline And Enforcement
- Rule 601: Disciplinary and Enforcement Procedures -- General
- Rule 602: Process Considerations
- Rule 603: Disciplinary Matters
- Rule 604: Summary Actions
- Rule 605: Appeal from Hearing Panel Decisions and Summary Actions
- Rule 606: Rights and Responsibilities After Suspension or Termination
- Rule 607: Notice to the Respondent, the CFTC, and the Public
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Chapter 8: Clearing
- Rule 801: Clearing
- Rule 802: Participants
- Rule 803: Clearing Members
- Rule 804: Application for Clearing Membership
- Rule 805: Withdrawal of Clearing Membership
- Rule 806: Responsibilities of Clearing Members
- Rule 807: Clearing Member Financial Reporting Requirements
- Rule 808: Notices Required of Clearing Members
- Rule 809: Clearinghouse Authority
- Rule 810: Liquidity Events
- Rule 811: Acceptance for Clearing and Novation
- Rule 812: Liens Held by the Clearinghouse
- Rule 813: Settlement and Delivery
- Rule 814: Defaults
- Rule 815: Application of Funds
- Rule 816: Liquidation on Termination or Suspension of Clearing Member
- Rule 817: Close-Outs
- Rule 818: Close-Out Netting
- Rule 819: Guaranty Fund
- Rule 820: Margins and Liquidations
- Rule 821: Transfers of Open Positions
- Rule 822: Amounts Payable to the Clearinghouse
- Rule 823: Clearing Fees
- Rule 824: Public Information
- Chapter 9: Reserved
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Chapter 10: Miscellaneous
- Rule 1001: Trading by Officials Prohibited; Misuse of Material, Non-Public Information
- Rule 1002: Market Data
- Rule 1003: Recording of Communications
- Rule 1004: Confidentiality
- Rule 1005: Force Majeure
- Rule 1006: Extension or Waiver of Rules
- Rule 1007: Effect of Amendment, Repeal or New Rule
- Rule 1008: Signatures
- Rule 1009: Governing Law; Legal Proceedings
- Rule 1010: Indemnification
- Rule 1011: Limitation of Liability; No Warranties
- Rule 1012: Affiliate Participants and Clearing Members
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Chapter 11: Digital Asset Delivery
- Rule 1101: Digital Asset Delivery Definitions
- Rule 1102: Participant and Clearing Member Delivery Obligations
- Rule 1103: Delivery Procedures
- Rule 1104: Cost of Delivery
- Rule 1105: Delivery Infractions
- Rule 1106: Digital Asset Delivery Eligibility
- Rule 1107: Settlement Facility Reporting Requirements
Products
- Avalanche US Dollar Kilo Futures
- Bitcoin Cash US Dollar Hecto Futures
- Bitcoin US Dollar Deci Futures
- Bitcoin US Dollar Futures
- Cardano US Dollar Myra Futures
- Chainlink US Dollar Kilo Futures
- Dogecoin US Dollar Penta Futures
- Ethereum US Dollar Deca Futures
- Hashrate US Dollar Petahash Futures
- Hedera US Dollar Penta Futures
- Litecoin US Dollar Hecto Futures
- Perpetual Bitcoin US Dollar Centi Futures
- Polkadot US Dollar Myra Futures
- Solana US Dollar Hecto Futures
- Stellar US Dollar Penta Futures
- USDC US Dollar Myra Futures
- XRP US Dollar Myra Futures
Rule 509
Settlement
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Definitions
- Daily Settlement Period: Five minutes prior to Trading Close
- Final Settlement Period: Five minutes prior to Trading Termination
- Settlement Period: Daily or Final Settlement Period
- Implied Spot Price: The spot price implied by the futures curve.
- Floating Market Price: The first available of the following methods:
- The volume-weighted average price (VWAP) of all the trades during the Settlement Period.
- The time-weighted average price (TWAP) of the bid-ask spread midpoint during the Settlement Period.
- The price implied from the futures or options curve of which the Contract is a constituent:
- Futures: Futures curve interpolation.
- Options: Black-Scholes model based on the Settlement Price and 30-day volatility of the underlying Contract.
- The Contract's previous day's Settlement Price.
- Market data sources deemed acceptable by the Exchange.
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Daily Settlement. The Exchange will provide the Clearinghouse with Settlement Prices at least once per day. The Daily Settlement price shall be determined at the end of the Daily Settlement Period.
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Final Settlement. The Exchange will provide the Clearinghouse with the Final Settlement Prices at the end of the Final Settlement Period on the expiration day of the Contract.
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Sole Discretion. The Exchange has sole discretion to determine an alternative Settlement Price if the stated Settlement procedure produces prices which are not representative of the fair value of the Contract. The Exchange reserves the right to adjust Daily and Final Settlement Prices as it deems necessary based on current market conditions or otherwise.
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Tick Alignment. All Settlement Prices are rounded to the nearest tick.
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Futures Settlement Prices
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Physically-Settled
- Daily: The Floating Market Price.
- Final: The Floating Market Price.
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Cash-Settled
- Daily: The Floating Market Price.
- Final: The underlying index price.
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Perpetual.
- Daily: The median of (1) the Implied Spot Price, (2) the Floating Market Price, and (3) the Implied Spot Price plus the simple moving average.
- Final: The Implied Spot Price.
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-
Options Settlement Prices
- Daily: The Floating Market Price.
- Final: The underlying Settlement Price.
Start Trading
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Signing up with Bitnomial, Inc. requires additional verification with an FCM to trade futures. Futures accounts are offered by Bitnomial Clearing, LLC, a CFTC-registered FCM and NFA member. Trading in futures involves substantial risks. You should only trade in financial products that you are familiar with and understand the associated risks, and after carefully considering whether such trading is suitable in light of your investment experience, financial position, and investment objectives. Leverage in futures trading can work for you or against you. The risk of loss using leverage can exceed your initial investment amount. See Bitnomial entity affiliation and registration disclosures and FCM financial and risk disclosures.