Margin Futures - Cboe Digital

Cboe Digital Margin Futures

Cboe Digital is a U.S. regulated exchange and clearinghouse bringing trust and transparency to the crypto spot and derivatives markets. Cboe Digital’s markets are intermediary-inclusive and are underpinned by responsible innovation and enable capital efficiency.

Margin

CFTC regulated access to BTC and ETH exposure using margined futures
Utilize physically settled margined futures to access underlying crypto

Financially Settled

Use financially settled BTC and ETH futures to gain exposure to crypto assets
Trade CFTC-regulated futures on crypto assets without touching the underlying
Financially settled crypto futures with an accessible contract size

CFTC DCM (exchange license)

Cboe Digital Exchange operates a Central Limit Order Book (CLOB) and upholds fair access standards.

CFTC DCO (clearinghouse license)

Removes counterparty risk with central clearing and settlement of spot and futures trades.
All customer assets held in segregated accounts at the clearinghouse.
Cboe Clear Digital is the only US regulated clearinghouse that voluntarily maintains segregated customer assets across futures, and spot crypto assets.

Technology

Benefit from our deep understanding of market structure, high performance trading systems and operations.

We offer markets participants a modern and advanced matching engine and clearing system.

Systems subject to rigorous testing required by our regulators.
Designed to handle extremely high transaction loads and throughput reliably.
Low latency systems, located in a premier financial services data center with the ability to cross connect.
Traditional and modern API access via FIX, Websocket or REST.
Run in a resilient, fault-tolerant cluster for high uptimes.

Financially Settled Contracts

Description	A financially-settled futures contract on
Product	Bitcoin	Ether
Contract Symbol	FBT	FET
Contract Size	0.1 bitcoin	1 ether
Price Quotation	USD per 1 bitcoin	USD per 1 ether
Minimum Price Increment	$ 1.00 ($0.10 per contract)	$ 0.10 ($0.10 per contract)
Listed Contracts	2 serial months and nearest 2 quarterly months
Settlement Rules	Financially-settled. Final settlement price is determined pursuant to Rule 906(c) and based upon the applicable Cboe Kaiko Reference Rate. The final settlement price is the applicable Cboe Kaiko Rate published at 10:00 a.m. CT on the Last Trading Day. More information below.
Trading Hours	Sunday through Friday 5:00 p.m. CT (open on previous business day) through 4:00 p.m. CT (close on trade date), unless otherwise determined by the Exchange and published in a Notice to Participants.
Daily Closing Time	4:00 PM CT
Last Trading Day/Time	10:00 a.m. CT Last Friday^* of the contract month. * Preceding business day if day falls on a non-business day
Block Trade Min Size / Price	10 Contracts / $0.01	10 Contracts / $0.01
Position Limit	85,000	120,000
Large Trader Reporting	25 Contracts	25 Contracts
Collateral Withheld	Collateral required on a margin-basis. Margin requirements are published daily on the Cboe Digital website at cboedigital.com.
Forks	Support for forks in the underlying product will be evaluated in accordance with the Cboe Digital Fork Policy.

Contact us for more information

Disclaimer

There are important risks associated with transacting in any of the Cboe Company products or any digital assets discussed here. Before engaging in any transactions in those products or digital assets, it is important for market participants to carefully review the disclosures and disclaimers contained at https://www.cboe.com/us_disclaimers/
These products and digital assets are complex and are suitable only for sophisticated market participants. In certain jurisdictions, including the United Kingdom, Cboe Digital products are only permitted for investment professionals, certified sophisticated investors, or high net worth corporations and associations.
These products involve the risk of loss, which can be substantial and, depending on the type of product, can exceed the amount of money deposited in establishing the position.
Market participants should put at risk only funds that they can afford to lose without affecting their lifestyle.
Cboe Clear Digital, LLC is licensed to engage in virtual currency business activity by the New York State Department of Financial Services.