Intercontinental Exchange (ICE), operator of the cryptocurrency platforms Bakkt, said the official requirements for the minimum Deposit to trade bitcoin futures, the launch of which should take place before the end of September.
According to a post on ICE Futures U.S., to participate in futures trading Bakkt with daily and monthly calculations, customers will need to Deposit a minimum of $3 900. «Speculative initial requirement» above and is $4 290.
In comments to CoinDesk, research Director at the TradeBlock John Todaro explained that the «initial hedge» corresponds to «the amount of assets that you need to provide to open position.»
«Speculative requirements apply to accounts that speculate on the price movements of bitcoin using futures contracts. The Commission on urgent exchange trade (CFTC) and other regulatory agencies use rules to protect futures markets from excessive speculation that can lead to anomalous deviations of prices and volatility, added Todaro.
Also ICE Futures U.S. announced requirements intramonth additional reserves on exchange rate volatility. They are $400 – 1000 for the initial hedge and $440 – 1 000 speculative. The size of reserves will depend on the «date of expiration and the differences in the expiry dates of the contracts.»
«As contracts have requirements necessary to maintain open positions. Depending on the market movements the position can require the allocation of large funds to return initial margin», — explained Todaro.
Given the current exchange rate of bitcoin (around $10,000) submitted by ICE Futures U.S. requirements are consistent with the previous statement Bakkt that the initial software would be about 37% of the full price of the contract.
Recall taking deposits on the platform Bakkt started last week, and the start of trading industry first adjustable deliverable futures scheduled for September 23.