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 However, orders may be withdrawn due to factors such as service updates.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 carrying 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 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. Maintenance Margin Rules, Margin Call Rules, Sell Out Rules
Our Maintenance Margin Rules, Margin Call Rules, and Sell Out Rules are as follows:
Maintenance Margin Rules
- If the maintenance margin rate falls below 100%, the Maintenance Margin Rules will apply.
- All outstanding new orders will be revoked (cancelled) (“New orders” shall mean the orders which increase the customer's position.)
- When the maintenance margin rate is below 100%, transferring out your margin deposit from your margin accounts (Japanese yen and Bitcoin) to spot accounts, or placing new orders will be suspended.
- There may be delays in the Maintenance Margin Rules being applied. The Company will not be held liable for any losses incurred as a result of such delays.
Margin Call Rules
- If the maintenance margin rate is below 100% at 6:00 PM (JST) every business day (including weekends and holidays), Margin Call Rule will apply and a margin call will occur.
- All outstanding new orders will be revoked (cancelled).
If the margin call has not been resolved by 4:59 PM (JST) on the next business day (including weekends and holidays) after the margin call is triggered, Sell Out Rules will apply at 5:00 PM (JST). The methods of resolving the margin call are as follows.
(1) Deposit Japanese yen or bitcoin into your margin account
(2) Partial or complete settlement of your positions
(3) Increase the leverage rate*
*If the leverage rate is set lower than the maximum value, it can be raised to resolve the margin call. It will not be raised if you have selected the maximum leverage rate. As an example, if margin call rules are applied with leverage 1x and the maintenance margin rate is subsequently 55%, the maintenance margin rate will become 110% when leverage becomes 2x, and the margin call will be resolved. However, be aware that if the market price continues to fluctuate by 5% or more, the maintenance margin rate will again fall below 100%, and margin call rules may be applied at the next timing of determination of margin call.
- Please note that even if the maintenance margin rate exceeds 100% by methods other than listed above (market fluctuation, etc.), after the margin call is triggered, the margin call will not be resolved.
- If the market has changed abruptly, the Sell Out Rules is applied before the Margin Call Rules are applied.
- It may take time for the amount of the Margin Call to be reflected on the trade screen even after all or part of the Margin Call clears. If the amount is not reflected, wait for a moment and try again.
- There may be delays in the Margin Call rules being applied. The Company will not be held liable for any losses incurred as a result of such delays.
Sell Out Rules
- If the maintenance margin rate falls below 50%, or based on the Margin Call Rules, if the margin call has not been resolved by 4:59 PM (JST) of the next business day (including weekends and holidays) after the margin call is triggered, the Sell Out Rules will apply at 5:00 PM (JST).
- We will close all of your positions on Lightning FX/Futures (Sell Out order). Sell Out orders involve market orders on all positions for settlement purposes.
- Trade may not be resumed until settlement orders on all positions are finalized.
- There may be delays in the Sell Out Rules being applied. The Company will not be held liable for any losses incurred as a result of such delays.
- If you cannot deposit more than the shortage amount, bitFlyer may conduct transfer payments from any of your spot accounts to your margin accounts 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 spot accounts 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 through the aforementioned process.
- 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 → margin account)
- Transfer 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 transferable amount in your spot account.
Transfer out (margin account → spot account)
- Transfer 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 transferable amount in your margin 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