June 26, 2020

Launch of XBTUSD and ETHUSD Semiannnual contracts


On Friday, July 3rd we will be launching a new Semiannual fixed-maturity contract for our existing XBT/USD and ETH/USD pairs, expiring and settling on Friday, December 25, 2020 at 4PM London time:

  • FI_XBTUSD_201225
  • FI_ETHUSD_201225

Note that we have made a change to our settlement schedule. Previously settlement was scheduled on the last Friday of each month unless there was a public holiday. In order to align with the broader cryptocurrency derivatives market all contracts listed from this point on will expire on the last Friday of the month.

Going forward, XBT/USD and ETH/USD pairs will have four concurrent contract slots which will always be filled with a maturity: Perpetual, Month, Quarter, and Semiannual.

The December contract will be useful to clients in a number of ways:

  • Trading versus the December contracts on other exchanges
  • Basis trading using margin-netting on other contracts on Kraken Futures
  • Hedging options exposure on other platforms
  • Longer-term speculation with a fixed rate exposure

The contracts will have the same indices as their respective contract types for real-time marking and settlement. The mark price formula will set the maximum deviation from index at 10% for a 180-day period.

You can read more about the contract specifications here - https://www.cryptofacilities.com/resources/hc/en-us/articles/115002795913-Fixed-Maturity-Futures-Contract-specifications

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Crypto Facilities is a group of companies which is in turn a member of the Payward, Inc. group of companies. Payward, Inc. is the owner and operator of the Kraken Exchange, a venue that facilitates the trading of cryptocurrencies.

Crypto Facilities Ltd is authorised and regulated by the Financial Conduct Authority (FRN 757895) and registered in England with registered number 9172128 and registered office at 6th Floor, One London Wall, London, United Kingdom, EC2Y 5EB.