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What time does the Gemini contract settle?
Futures contracts at Gemini settle daily at 11:00 AM Eastern Time, per the predetermined time established by the exchange.
Nov 10, 2024 at 09:06 pm
What Time Does the Gemini Contract Settle?
Introduction
Gemini is a leading cryptocurrency exchange that offers a variety of spot, futures, and options contracts. Futures contracts are derivative instruments that allow traders to speculate on the future price of an underlying asset, such as Bitcoin or Ethereum. These contracts settle at a predetermined time, which is important to know when managing your positions.
Settlement Times
Gemini's futures contracts settle daily at 11:00 AM Eastern Time (ET). This means that all open positions in a particular contract will be closed and settled at this time. The settlement price is determined by taking the average of the spot prices on Gemini over the previous 5 minutes.
Contract Expiration
In addition to daily settlement, futures contracts also have an expiration date. This is the date on which the contract will expire and no longer be tradable. After expiration, the contract will be settled based on the underlying asset's spot price at the time of expiration.
Steps for Settling a Gemini Contract
The process for settling a Gemini futures contract is as follows:
- Ensure the contract has not expired. To avoid any unexpected losses, verify that the contract you are attempting to settle has not already expired.
- Close all open positions. All open positions in the contract must be closed before it can be settled. This can be done by placing an opposite order that closes out your position.
- Wait for the settlement time. The contract will settle at the predetermined settlement time, which is 11:00 AM ET. During this time, all positions will be closed and settled at the settlement price.
- Receive the settlement funds. After the contract settles, the proceeds from your closed positions will be credited to your Gemini account. This includes any profits or losses incurred on your trades.
Conclusion
Settling Gemini futures contracts is a straightforward process that takes place daily at 11:00 AM ET. By understanding the settlement times and expiration dates of these contracts, you can effectively manage your trading positions and ensure timely settlement.
Disclaimer:info@kdj.com
The information provided is not trading advice. kdj.com does not assume any responsibility for any investments made based on the information provided in this article. Cryptocurrencies are highly volatile and it is highly recommended that you invest with caution after thorough research！
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