Lightning Futures User Guide
1. Trading Days and Times
(1) Trading days
Lightning Futures trades can be made, as a rule, every day.
(2) Trading times
Lightning Futures trades can be made during the following times:
|Trading days||Trading Hours|
|Monday to Sunday||24 hours a day.|
- Trading times may be changed temporarily without notice, if necessary.
- System maintenance times are excluded.
(3) Term (maturity date)
Lightning Futures maturity dates are included in the product names as follows.
EX: If the product name is "BTC/JPY-28APR2017," the maturity date is April 28th, 2017.
2. Order times
Orders are received 24 hours a day, 365 days a year. System maintenance times are excluded. For information about the maturity schedule, please refer to "What is Lightning Futures?"
3. Order Validity Period
If no order expiration date is specified, it will be in 30 days. However, orders may be withdrawn due to factors such as service updates.
4. Swap Points
Swap points are generated by rolling over a position. Please refer to our Fees and Taxes page for a breakdown of swap points.
- Swap points for the previous day are determined at 00:00:00 each day.
- Swap points will be added to, or subtracted from, the margin at the time of open position settlement.
The required margin for a transaction will be the amount calculated by multiplying the margin rate to the actual transaction amount. For margin rate, please see the fees and taxes page.
- Margin rate may be changed at our discretion.
- Profit and loss (valuation), required margin, etc. are combined across Lightning FX/Futures markets.
- Please note that positions on different markets do not offset each other in calculation of required margin.
6. Sell Out, Margin Call
At Lightning Futures, the margin status is constantly updated.
If the maintenance margin rate margin retention rate falls below a certain level, a "Margin Call" or "Sell Out" will be triggered.
Please see the fees and taxes page for details regarding Margin Call and Sell Out. If the status becomes "Margin Call," the following "Margin Call Rules" will apply. If the status becomes "Sell Out," the following "Sell Out rules" will apply.
- We may ask you to deposit additional margin depending upon the risk position of our company.
Margin Call Rules
If the maintenance margin rate falls below the level prescribed by bitFlyer, Margin Call Rules apply. However, if the market has changed abruptly, the Sell Out Rules is applied instead, and a loss in excess of the margin amount may occur. In this case, the customer will need to add funds promptly to resolve the lack of funds. Margin Call Rules are as follows:
- All outstanding new orders will be revoked (cancelled). (“New orders” shall mean the orders which increase the customer's risk.)
- Please deposit additional margin funds until 17:00 of the third bank business day, so that the maintenance margin rate is at a level greater than that set by bitFlyer. If the maintenance margin rate is still below the level prescribed by bitFlyer at 17:00 on the third bank business day after it fell below the prescribed level, the following Sell Out Rules will apply.
Sell Out Rules
If the market changes suddenly, even if Sell Out Rules are applied, there may be a loss in excess of the amount of margin. In this case, the customer will need to add funds promptly to resolve the lack of funds.
- If you cannot deposit more than the shortage amount, bitFlyer may conduct transfer payments from any of your bitFlyer accounts to your Lightning FX/Futures account at its discretion. In this case, if necessary to resolve the lack of funds, we may at our discretion cancel the withdrawal transfer instructions from your bitFlyer account or bitcoin transfer instructions, cancel orders, dispose of virtual currency or other assets which are entrusted to us there is that customers, or dispose of customer reimbursements or monies deposited with bitFlyer to pay the debts to our company. Our company assumes no liability for any losses or damages incurred though the aforementioned process.
- If the maintenance margin rate is below the level prescribed by bitFlyer, the application of Margin Call Rules and the Sell Out Rules may be delayed. The company shall not be responsible for any loss or damages arising out of such delay of application.
The Sell Out Rules are as follows:
- All outstanding new orders will be revoked (cancelled).
- If as a result of (1), the maintenance margin rate is still below the level prescribed by bitFlyer, we will sell all of your positions on Lightning Futures (Sell Out order) to make a settlement.
- Sell Out orders involve market orders on all positions for settlement purposes.
- If Sell Out Rules are applied, trade may not be resumed until settlement orders on all positions are finalized.
- If funds are still insufficient, bitcoin transfers to external bitcoin addresses, deposit cancellations, and bitWire will be stopped.
7. Transfer Payments (inward and outward) for Margins
Transfer in (Spot Account to Lightning FX/Futures Account)
- Transfers in can be made 24 hours a day, 365 days a year.
- Deposit margins will be increased as soon as transfer is completed.
- Transfers can be made within the range of the transferrable amount in your bitFlyer account.
Transfer out (Lightning FX/Futures Account to Spot Account)
- Transfers out can be made 24 hours a day, 365 days a year.
- Margin Deposit will be decreased as soon as transfer is completed.
- Transfers can be made within the range of the transferrable amount in your Lightning Futures account.
8. Maximum positions held
For information about the maximum number of positions you can hold, please refer to "What is Lightning Futures?"
As a rule, transfers can be made 24 hours a day, 365 days a year. However, the following times are excluded:
- During system maintenance