XBT/USD Monthly Deliverable Swap
| Contract Description | A swap in which the counterparties agree to buy or sell, at a set price, a specified quantity of the Reference Asset at a specified future date. |
| Symbol | SWP-XBT-USD-(MYY) (e.g. SWP-XBT-USD-X19, November 2019 maturity) |
| Trading Division | Tassat |
| Reference Asset | XBT - Bitcoin |
| Settlement Currency | USD - United States Dollar |
| Variation Margin Currency | USD - United States Dollar |
| Minimum Price Increment | 0.01 USD |
| Quoting Convention | Quantity of Contracts, quoted in whole numbers. Fractional number of Contracts is not permitted. |
| Contract Size | 1 XBT |
| Minimum Size | 5 Contracts |
| Minimum Size Precision | 5 Contracts |
| Trading Convention | Buy or sell in the amount of Contracts agreed upon by the counterparties. |
| Trade Date | The date on which the parties enter the Transaction. |
| Maturity Date | The last Friday of each of the nearest two serial months, and the nearest two months in the quarterly cycle (March, June, September, December). |
| Last Trading Day | Two USNY business days before the Maturity Date. |
| Last Trading Time | 5:00 pm New York local time on the Last Trading Day. |
| Last Trading Day Business Day Convention | Preceding |
| Settlement Date | The Maturity Date agreed upon by the parties, as specified in the Confirmation for the Transaction. |
| Settlement Date Business Day Convention | Preceding |
| Settlement Method | Physical delivery, as provided in Rule 1210.* |
| Clearing House | None - Uncleared |
| Position Limits | Overall Limit: 55,000 Contracts in aggregate for all Tassat XBT Products. |
| Primary Contract Limit | 15,000 Contracts in aggregate for the Primary Contract of all Tassat XBT Products. |
| Reportable Levels | 5 Contracts in aggregate for all Tassat XBT Products. |
| Trading Hours | Trading Hours will commence each Trading Day at 9 am New York local time and end each Trading Day at 5 pm New York local time. |
| Holidays | US - New York (USNY) |
| Price Limits | Tassat Products are not subject to daily price limits. For more information, see Rule 1206.* |
* All capitalized defined terms and rules can be found in the complete rule filing here.
