TeraExchange launched the first U.S. regulated trading platform for bitcoin forward contracts. By offering a bitcoin derivative product with regulatory structure and controls, TeraExchange created an opportunity for institutional investors to confidently participate in the bitcoin marketplace.
Our TeraExchange bitcoin forward is a short-term, U.S. Dollar settled forward. On the contracted settlement date, the profit or loss is adjusted between the two counterparties based on the difference between the contracted rate entered into on trade date and the prevailing Tera Bitcoin Price Index at the time of settlement.
The details of the product include:
♦ notional amount: This is the “face value” of the contract, which is agreed between the two counterparties.
♦ valuation date: This is the day and time whereby the comparison between the price the bitcoin forward entered into on trade date and the prevailing Tera Bitcoin Price Index is calculated
♦ settlement date (or delivery date): This is the day when the difference is paid or received. It is usually two business days after the valuation date
♦ bitcoin forward price: The U.S. Dollar price agreed on the transaction date
♦ valuation price: The price on the valuation date at 3:00pm New York time of the Tera Bitcoin Price Index as broadcast by TeraExchange
The notional amount is never exchanged. The only exchange of cash is the difference between the bitcoin forward price at trade date and the prevailing 3:00 p.m. broadcast price of the Tera Bitcoin Price Index on the valuation date.
Please call (908)273-8200 or email firstname.lastname@example.org for more detailed information regarding the transaction.
The Bitcoin forward marketplace has two discrete methods of execution. The first is an anonymously displayed Order Book. As a supplement to the Order Book market participants may use a Request For Quote (RFQ) application.
Please reference our Liquidity Provider Guidelines for information on Market Making and feel free to email us at email@example.com or call (908)273-8200 for more information.
The custodial accounts are always in the name of the market participants and must be funded before any market participants can trade. The Daily Notional Trading Limit for each market participant is determined every morning based on the balance in the custody account(s). The Daily Notional Trading Limit will be provided to each market participant before the market opens for trading.
|Overnight - NDF-O/NUSDXBT-OTC||3 Week - NDF-03WUSDXBT-OTC|
|2 Day - NDF-02DUSDXBT-OTC|
|3 Day - NDF-03DUSDXBT-OTC||1 Month - NDF-01MUSDXBT-OTC|
|4 Day - NDF-04DUSDXBT-OTC||2 Month - NDF-02MUSDXBT-OTC|
|5 Day - NDF-05DUSDXBT-OTC||3 Month - NDF-03MUSDXBT-OTC|
|6 Day - NDF-06DUSDXBT-OTC||4 Month - NDF-04MUSDXBT-OTC|
|7 Day - NDF-07DUSDXBT-OTC||5 Month - NDF-05MUSDXBT-OTC|
|8 Day - NDF-08DUSDXBT-OTC||6 Month - NDF-06MUSDXBT-OTC|
|9 Day - NDF-09DUSDXBT-OTC||9 Month - NDF-09MUSDXBT-OTC|
|10 Day - NDF-10DUSDXBT-OTC|
|1 Year - NDF-01YUSDXBT-OTC|
|2 Year - NDF-02YUSDXBT-OTC|
|USD LIBOR Fixed for Float Interest Rate Swaps||DKK CIBOR Fixed for Float Interest Rate Swaps|
|JPY LIBOR Fixed for Float Interest Rate Swaps||GBP LIBOR Fixed for Float Interest Rate Swaps|
|NOK NIBOR Fixed for Float Interest Rate Swaps||AUD BBSW Fixed for Float Interest Rate Swaps|
|JPY IMM Fixed for Floating Interest Rate Swaps||CHF LIBOR Fixed for Float Interest Rate Swaps|
|USD IMM Fixed for Float Interest Rate Swaps||USD LIBOR Basis Interest Rate Swaps|
|EUR EURIBOR Fixed for Float Interest Rate Swaps||GBP IMM Fixed for Float Interest Rate Swaps|
|USD LIBOR Invoice Interest Rate Swaps||CAD CDOR Fixed for Float Interest Rate Swaps|
|EUR IMM Fixed for Float Interest Rate Swaps||SEK LIBOR Fixed for Float Interest Rate Swaps|
|CME Cleared IG/HY Credit Default Swap Indices|
|CME Cleared Non-Deliverable Forwards|
|Equity Index Swaps|