Updated Futures Contract Specifications on Digitex Futures Exchange

We have decided to change the contract specifications of our futures markets to have more traditional monthly expiry dates. Listed below are the contract specifications for Bitcoin Futures and Ether Futures.

The Digitex Futures Exchange will offer commission-free futures markets on Bitcoin/USD, Ether/USD and Litecoin/USD. By posting margins in DGTX tokens, traders can buy and sell futures contracts without paying any trading fees.

In the original whitepaper our futures contracts have very short duration (24 hour) expiry dates. The idea behind this was to create fast paced markets that closely followed the spot price and which attracted very active, short term traders who weren’t constrained by trading fees.

However, such short dated contracts will deter longer term traders and could also affect adoption rates amongst current futures traders who are used to much saner monthly and quarterly expiry dates. Therefore, we have decided to change the contract specifications of our futures markets to have more traditional monthly expiry dates.

When introducing a revolutionary new model such as zero-fee futures trading using our own token I think it’s good that we follow some conventions to ensure that while we may be different, we’re not too different.

The updated contract specifications for Bitcoin Futures:

Contract Name: Bitcoin Futures

Contract Code: BTCUSD

Price Quotation: USD per BTC

Tick Size: $5 minimum price fluctuation

Contract Unit: 1 DGTX x (Global Bitcoin Price Index (GBX) / $5)

Tick value: 1 DGTX

Settlement Method: Cash settled in DGTX tokens at Settlement Price

Expiry Date: Last Friday of the month at 4pm London time

Daily Settlement Price: Last traded price at 4pm New York time

Final Settlement Price: Global Bitcoin Price Index (GBX) at 4pm on last Friday of the month, rounded up or down to nearest $5 price increment

Listed Contracts: Monthly contracts listed for the nearest 2 serial months

Trading Hours: 24/7

Trading Fees: 0%

The updated contract specifications for Ether Futures:

Contract Name: Ether Futures

Contract Code: ETHUSD

Price Quotation: USD per ETH

Tick Size: $1 minimum price fluctuation

Contract Unit: 1 DGTX x Global Ethereum Price Index (GEX)

Tick value: 1 DGTX

Settlement Method: Cash settled in DGTX tokens at Settlement Price

Expiry Date: Last Friday of the month at 4pm London time

Daily Settlement Price: Last traded price at 4pm New York time

Final Settlement Price: Global Ethereum Price Index (GEX) at 4pm on last Friday of the month, rounded up or down to nearest $1 price increment

Listed Contracts: Monthly contracts listed for the nearest 2 serial months

Trading Hours: 24/7

Trading Fees: 0%

The updated contract specifications for Litecoin Futures:

Contract Name: Litecoin Futures

Contract Code: LTCUSD

Price Quotation: USD per LTC

Tick Size: $0.25 minimum price fluctuation

Contract Unit: 1 DGTX x (Litecoin Price / $0.25)

Tick value: 1 DGTX

Settlement Method: Cash settled in DGTX tokens at Settlement Price

Expiry Date: Last Friday of the month at 4pm London time

Daily Settlement Price: Last traded price at 4pm New York time

Final Settlement Price: Spot price of LTC/USD on Bitcoinaverage.com at 4pm on last Friday of the month, rounded up or down to nearest $0.25 price increment

Listed Contracts: Monthly contracts listed for the nearest 2 serial months

Trading Hours: 24/7

Trading Fees: 0%

We’ll continue to keep you informed as our development progresses. In the meantime, please join our waitlist to be the first to trade crypto futures with zero-fees.

Cheers!

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