Luxor’s Bitcoin Hashrate Futures on Bitnomial Exchange

Product Name: Luxor Hashrate Futures

Product Description: The Luxor Hashprice Futures contract is a USD-denominated Bitcoin hashrate contract. The underlying asset is the Bitcoin denominated Luxor Hashprice Index. Prices are then converted from Bitcoin denomination to USD denomination using the BTNL implied futures curve for conversion from BTC to USD.

Product Code: HUP

Contract Size: 1 Petahash of Bitcoin Hashrate

Price Quotation: US Dollars per PH/s/Day

Min Price Fluctuation: 0.25 per Petahash (0.25 per contract). Example: $75.25

Tick Value: 0.25 = $7.50 Tick Value

Trading Termination: 9:30 CPT of the trading day two trading days prior to the last Friday of the expiry month.

Listing: 6 serial months. Add monthly contracts following the termination of trading in the front month contract.

Settlement Methodology: Hashrate is a continuously delivered commodity, similar to electricity. As such, the settlement process takes this into account by using a floating price, whereby the settlement is an average of all price prints that occur on the index, for the duration of the contract.

Settlement Process: Cash settled at expiration. Final settlement, following termination of trading for a contract month, will be based on the Floating Price. The final settlement price will be the Floating Price calculated for each contract month. Settlement is in USD, converted at settlement from BTC to USD, according to BTNL contract settlement.

How to Start Trading Luxor Hashrate Futures

1. Open a Trading Account

• Onboarding can be facilitated by Luxor

• Get started onboarding with Luxor

2. Fund Your Trading Account

• Funding requirements can be as small as $25,000 but will be dependent on the size that a firm or individual wants to trade

• You can fund your account with ACH or wire

3. Sign-in to Your Execution platform

• Log on to CQG Desktop

• Luxor can facilitate the connection between Bitnomial and your execution platform

Luxor and Bitnomial can work with a number of clearing firms, please alert us if you are already onboarded to another broker and we will facilitate a connection.