Session Settlement

The settlement will occur every 8 hours (3 sessions in a day). This is known as the Session End Time. Realised and unrealised session profits gained at any point during the 8 hours prior to the Session End Time can only be withdrawn at or after settlement. At the end of each session, all positions’ Average Price will be reset to the Mark Price (except for the session on the date of expiry, where all positions will be settled and expired – see Expiry Settlement).

The Socialised Loss Mechanism may be applied if the Insurance Fund is depleted.

Expiry Settlement

The final Session End Time for the futures contract will be 08:00 UTC on the date of expiry. This is known as the Expiry Settlement. Realised and unrealised session profits gained at any point during the 8 hours prior to the Expiry Settlement can only be withdrawn at or after settlement. All positions will be settled at the Settlement Price.

The Socialised Loss Mechanism may be applied if the Insurance Fund is depleted.

Settlement Price

The Settlement Price is calculated as the Time Weight Average Price of the Index Price over the last 60 minutes before the Expiry Settlement measured between 07:00 UTC and 08:00 UTC on the date of expiry.

Mark Price

Mark Price is used for calculating the margin requirement, and therefore also used to determine when margin-related notices are triggered and whether Forced Liquidation occurs. It is a means used to help prevent market manipulation and unnecessary liquidation.

Mark Price = Index Price + 30 seconds an exponential moving average of (Market Price - Index Price)

● Mark Price Bandwidth = +/- 10% of 5 minutes Simple Moving Average of Mark Price

Market Price = median of the following 3 data points:

● Last Traded

● Best Bid

● Best Offer

Session End Time

Every 8 hours at 00:00 UTC, 08:00 UTC, and at 16:00 UTC daily.

Notice period for Crypto.com to terminate open positions

In certain circumstances, Crypto.com may close out any and all positions if it considers such measures are required. The applicable notice period is at least 48 hours.

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