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Spot

Trade the first-ever leveraged retail spot cryptocurrency under CFTC regulation. Bitnomial Exchange offers spot trading with unified portfolio margining across perpetuals, futures, and options, combined with end-of-day net settlement for unprecedented capital efficiency.

What Is Leveraged Spot Trading?

Leveraged spot crypto trading enables traders to access spot cryptocurrency positions without prepaying full position value, operating under federal CFTC oversight through Bitnomial's Designated Contract Market (DCM) and Derivatives Clearing Organization (DCO). Unlike traditional pre-collateralized crypto exchanges, our platform provides:

  • Leverage Access: Trade spot crypto without prepaying full position value
  • Portfolio Margining: Unified margin across spot, perpetuals, futures, and options
  • End-of-Day Net Settlement: Capital requirements based on net positions, not gross trading volume
  • Federal Regulation: Full CFTC oversight with DCM fair access protections

Key Features

Capital Efficiency Through Portfolio Margining

Portfolio margining calculates requirements based on net portfolio risk across all products. Hold offsetting positions like long spot and short perpetuals? Your margin requirement reflects the net risk, not the sum of individual positions. This delivers:

  • Cross-Product Offsets: Margin calculated on net risk across spot and derivatives
  • Single Margin Pool: Post collateral once and trade all products
  • Reduced Capital Requirements: 5x-20x improvement versus separate pre-collateralized positions
  • Sophisticated Strategies: Enable arbitrage and hedging strategies previously capital-prohibitive

End-of-Day Net Settlement

Net settlement through Bitnomial Clearinghouse means traders post capital only for net end-of-day positions, not gross transaction values throughout the trading day:

  • Capital Scales With Net Positions: Not gross trading volume
  • Intraday Trading Flexibility: Execute actively without multiplicative capital requirements
  • Market Making Viability: Professional liquidity provision becomes economically feasible
  • DCO Risk Management: Central counterparty with mutualized guaranty funds

Federal Regulation and Fair Access

Operating as a federally regulated DCM under CFTC oversight provides structural advantages unavailable on state money transmitter platforms:

  • Equal Order Treatment: All orders, retail and institutional, receive identical execution
  • No Preferential Routing: DCM fair access rules guarantee equal treatment
  • Market Transparency: All trades, volumes, and prices publicly reported
  • Comprehensive Surveillance: Governance and surveillance standards that define U.S. markets

Unified Exchange Advantage

Single Platform, All Products

Trade spot, perpetuals, futures, and options on one exchange with unified portfolio margining:

  • No Capital Fragmentation: Eliminate redundant margin pools across venues
  • Unified Risk Management: Clearinghouse calculates portfolio margin holistically
  • Operational Simplicity: One exchange, one clearinghouse, one margin calculation

Crypto as Collateral

As the first and only U.S. DCO accepting crypto as collateral, Bitnomial Clearinghouse enables:

  • Direct Digital Asset Margining: Post crypto as margin collateral
  • No USD Conversion: Eliminate conversion costs and maintain crypto exposure
  • Simplified Operations: Reduced complexity for crypto-native traders

Capital Efficiency in Practice

Retail Traders

Execute sophisticated strategies like cash-and-carry arbitrage with a fraction of the capital required on traditional exchanges. Portfolio margining recognizing offsetting positions can reduce capital requirements by 10x-30x or more.

Institutional Traders

Market makers providing liquidity across all products achieve 5x-10x capital efficiency improvements. Net settlement means firms can execute multiples of their capital in gross transaction value throughout the day, as long as net positions at settlement remain within limits.

Available Products

Trade spot cryptocurrency across our comprehensive product suites:

Why This Matters

Previously, U.S. traders chose between offshore exchanges with capital efficiency but no regulatory protection, or onshore pre-collateralized exchanges with compliance but severe capital inefficiency. Bitnomial Exchange eliminates this choice by delivering portfolio margining, net settlement, and unified spot and derivatives trading under full CFTC oversight.

This is the first time these capital efficiency features are available to U.S. crypto traders under federal regulation, bringing onshore the capital efficiency previously available only offshore while maintaining the regulatory protections and systemic risk management that have made U.S. derivatives markets the global standard for over a century.

Start Trading

Trade US Perpetual Futures, Physical Futures, and Options on the Bitcoin Complex®, XRP, ETH, SOL, and more.

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.