Updated Futures Contract Specifications on Digitex Futures Exchange

DIGITEX Futures

The Digitex Futures Exchange will offer commission-free futures markets on Bitcoin/USD, Ether/USD and Litecoin/USD. By posting margins in DGTX tokens, traders can buy and sell futures contracts without paying any trading fees.
In the futures contract specifications laid out in the original whitepaper our futures contracts have very short duration (24 hour) expiry dates. The idea behind this was to create fast paced markets that closely followed the spot price and which attracted very active, short term traders who weren’t constrained by trading fees.
However, such short dated contracts will deter longer term traders and could also affect adoption rates amongst current futures traders who are used to much saner monthly and quarterly expiry dates. Therefore, we have decided to change the specification of futures contracts to have more traditional monthly expiry dates.
When introducing a revolutionary new model such as zero-fee futures trading using our own token I think it’s good that we follow some conventions to ensure that while we may be different, we’re not too different.

Specifications of Futures Contracts for Bitcoin, Ethereum, and Litecoin
The updated futures contract specifications for Bitcoin Futures:
Contract Name: Bitcoin Futures
Contract Code: BTCUSD
Price Quotation: USD per BTC
Tick Size: $5 minimum price fluctuation
Contract Unit: 1 DGTX x (Global Bitcoin Price Index (GBX) / $5)
Futures Tick Value: 1 DGTX
Settlement Method: Cash settled in DGTX tokens at Settlement Price
Expiry Date: Last Friday of the month at 4pm London time
Daily Settlement Price: Last traded price at 4pm New York time
Final Settlement Price: Global Bitcoin Price Index (GBX) at 4pm on last Friday of the month, rounded up or down to nearest $5 price increment
Listed Contracts: Monthly contracts listed for the nearest 2 serial months
Trading Hours: 24/7
Trading Fees: 0%

The updated futures contract specifications for Ether Futures:
Contract Name: Ether Futures
Contract Code: ETHUSD
Price Quotation: USD per ETH
Tick Size: $1 minimum price fluctuation
Contract Unit: 1 DGTX x Global Ethereum Price Index (GEX)
Futures Tick Value: 1 DGTX
Settlement Method: Cash settled in DGTX tokens at Settlement Price
Expiry Date: Last Friday of the month at 4pm London time
Daily Settlement Price: Last traded price at 4pm New York time
Final Settlement Price: Global Ethereum Price Index (GEX) at 4pm on last Friday of the month, rounded up or down to nearest $1 price increment
Listed Contracts: Monthly contracts listed for the nearest 2 serial months
Trading Hours: 24/7
Trading Fees: 0%

The updated futures contract specifications for Litecoin Futures:
Contract Name: Litecoin Futures
Contract Code: LTCUSD
Price Quotation: USD per LTC
Tick Size: $0.25 minimum price fluctuation
Contract Unit: 1 DGTX x (Litecoin Price / $0.25)
Futures Tick Value: 1 DGTX
Settlement Method: Cash settled in DGTX tokens at Settlement Price
Expiry Date: Last Friday of the month at 4pm London time
Daily Settlement Price: Last traded price at 4pm New York time
Final Settlement Price: Spot price of LTC/USD on Bitcoinaverage.com at 4pm on last Friday of the month, rounded up or down to nearest $0.25 price increment
Listed Contracts: Monthly contracts listed for the nearest 2 serial months
Trading Hours: 24/7
Trading Fees: 0%

Stay connected for the latest updates!
We'll continue to keep you informed on matters such as the specification of futures contracts and the futures tick value list as our development progresses. In the meantime, join our Telegram if you have any questions or just want to get to know the Digitex Futures exchange team and community better.
Cheers!