Cryptocurrencies
APEX Bitcoin Perpetual Futures Contract allows you to manage your risk in cryptocurrencies and gain valuable exposure in this growing asset class. It provides diversification to trading portfolio for institutional clients and, being a futures contract, it can act as a risk minimization instrument to help your portfolio withstand price volatility in cryptocurrencies.
Note: This product is not suitable for retail investors as the underlying asset has much higher price volatility compared to other asset classes. Hence, please approach APEX’s members for them to assess your suitability to trade this product.
| APEX Bitcoin Perpetual Futures Contract Specifications | |
|---|---|
| Contract Code | BTCP |
| Contract Size | 50 milliBitcoin/lot (0.05 BTC = 50 milliBitcoin) |
| Quote Currency | USD |
| Minimum Price Fluctuation | US $0.005/milliBitcoin |
| Tick Value | US $0.25 |
| Contract Series | Perpetual Contract |
| Trading Hours |
Singapore time trading sessions: Monday – Friday, including Singapore Public Holidays T Session: T+1 Session: T stands for a given Trading Day. |
| Last Trading Day | Not applicable as there is no maturity date. |
| Daily Price Limit | Unless otherwise prescribed by the Exchange, there shall be no daily price limits. |
| Daily Settlement Price | The Daily Settlement Price of a given day shall be equal to Compass Crypto Reference Index Bitcoin (CCRIBTC) Price published by Compass Financial Technologies SA (“Compass”) at 18:00hr (GMT+8). The Daily Settlement Price shall be rounded to the nearest US $0.005/milliBitcoin. |
| Funding Fee |
Funding occurs where the position holder will receive or pay a Funding Fee computed using a Funding Rate. This shall be applied to all open positions at the end of each T Session and T+1 Session. The Funding Fee will be calculated and collected during the end-of-day clearing cycle at the end of each Trading Day. The formula is as follows: Funding Fee = Number of open position contracts x Contract Size x Compass Crypto Real Time Index Bitcoin (CCRTBTC) (in milliBitcoin) x Funding Rate The Funding Rates and its methodology will be published on APEX website. |
| Funding Interval | T Session: At 18:00hr (GMT+8) T+1 Session: At 05:30hr (GMT+8) |
| Final Settlement Price | Not applicable as there is no maturity date. |
| Settlement Method | Cash Settlement in USD against the Daily Settlement Price |
| Block Trade | Minimum 20 lots |
| Initial Margin | Based on SPAN (Click to see Margin Schedule) |
| Maximum Order Size | 500 lots |