What is BAKKT

ICE Futures U.S. offers physically delivered daily futures contracts on Bitcoin traded in BTC/USD (subject to regulatory approval). These contracts will be traded on ICE’s electronic trading platform, which offers industry-leading speed and reliability, regulated by the CFTC. All trades are cleared and guaranteed by ICE Clearing US, the central counterparty for all ICE cleared forex futures trades. Trades will result in physically delivered Bitcoin in the regulated Bakkt Warehouse. Market participants are eligible to transact with any other market participants. ICE physically delivered bitcoin futures offer trading and hedging opportunities.

Market Specifications

Trading Screen Product Name

Bakkt BTC (USD) Daily Future

Trading Screen Hub Name

ICUS

Contract Series

Daily Futures

Commodity Code

BTC

Contract Size

1 Bitcoin

Price Quotation

U.S. dollars per Bitcoin to 2 decimal places

Minimum Price Fluctuation

$2.50 per bitcoin ($2.50 per contract).
Block Trades may be executed at $0.01 per bitcoin ($0.01 per contract)

Daily Price Limit

None

Eligible Contract Dates

Every Exchange Business Day

Listing Cycle

One Contract Date will be listed each Business Day

Settlement

Physical Delivery

Last Trading Day

6:00 p.m. Eastern Prevailing Time (EPT) on the Business Day of the Daily Contract Date

Last Delivery Day

Equal to the Daily Contract Date

Trading Hours

8:00 pm to 6:00 pm, preopen at 7:55 pm, all times EPT

Exchange Fees

$0.50 combined Exchange and Clearing fee, per side

Off Exchange Trade Types

Block Trades permitted

Block Trade Minimum

10 lots

NCR, RL and IPL Levels

NCR – 50.00;
RL: – 150.00;
IPL- 300.00,
5 second recalculation and hold periods.

Daily Settlement

4:58 to 5:00 pm EPT

Position Limit

100,000 lots in any Contract Date

MIC Code

IFUS

Clearing Venues

ICUS

Trading Hours

CITY
TRADING
PRE-OPEN
NEW YORK
8:00 PM – 6:00 PM*
20:00 – 18:00
7:55 PM
19:55
LONDON
1:00 AM – 11:00 PM*
01:00 – 23:00
12:55 AM
00:55
SINGAPORE
9:00 AM – 7:00 AM*
09:00 – 07:00
8:55 AM
08:55

Codes

Clearing Admin Name

Bakkt BTC Daily

Physical

BTC

Logical

BTC

GMI(FC)

R&N A.C.N.

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