Intercontinental Exchange (ICE), the operator of the Bakkt cryptocurrency platform, has announced official requirements for the minimum deposit size for participating in the trading of bitcoin futures, the launch of which should take place before the end of September.
According to a publication on ICE Futures U.S., to participate in trading Bakkt futures with daily and monthly settlements, customers will need to make a minimum deposit of $ 3,900. The “speculative initial requirement” is higher and amounts to $ 4,290.
In a CoinDesk commentary, TradeBlock Research Director John Tododaro explained that the “initial hedge” corresponds to “the amount of assets that must be provided in order to open a position.”
“Speculative requirements apply to accounts that speculate on Bitcoin price movements through futures contracts. The derivatives trading commission (CFTC) and other regulatory agencies use the rules to protect the futures markets from excessive speculation, which can lead to abnormal deviations in prices and volatility, added Todaro.
Also ICE Futures U.S. reported requirements for intra-month additional reserves for the volatility of the course. They are $ 400 – 1,000 for the initial hedge and $ 440 – 1,000 for the speculative. The size of the reserves will depend on “expiration dates and differences in contract expiration dates”.
“As contracts turn around, requirements arise for collateral required to maintain open positions. Depending on market movements, a position may require the allocation of large funds to return the initial guarantee, ”explained Todaro.
Given the current rate of bitcoin (about $ 10,000), presented by ICE Futures U.S. the requirements are consistent with Bakkt’s previous statement that the initial security will be about 37% of the price of the full contract.