What time will LBank’s contract for the week be delivered?

What Time Will LBank's Contract for the Week Be Delivered?Introduction

LBank, a leading global cryptocurrency exchange, offers a range of contract trading products, including perpetual and quarterly contracts. Contract delivery refers to the process of settling the contract and transferring the underlying asset to the account of the contract holder. The delivery time for LBank's contract for the week can vary depending on the specific contract type.

Perpetual Contract Delivery

• Perpetual contracts are futures contracts that do not have a fixed expiry date. Instead, they remain open indefinitely, allowing traders to maintain their positions for an extended period.
• LBank's perpetual contracts are delivered at 8:00 AM (UTC) every day, except for Saturdays and Sundays.
• During delivery, the underlying asset is transferred to the trader's spot account based on the contract's settlement price.
• Traders can choose to close their perpetual contract positions before delivery to avoid the physical settlement process.

Quarterly Contract Delivery

• Quarterly contracts are futures contracts with a fixed expiry date that occurs every three months (March, June, September, and December).
• LBank's quarterly contracts are delivered on the third Friday of the expiration month at 8:00 AM (UTC).
• The delivery process for quarterly contracts is similar to perpetual contracts, with the underlying asset being transferred to the trader's spot account based on the contract's settlement price.
• Traders can also close their quarterly contract positions before delivery to avoid physical settlement.

Steps Involved in LBank Contract Delivery

The contract delivery process on LBank involves multiple steps:

1. Contract Expiration: The contract reaches its expiration date and is ready for settlement.
2. Settlement Price Determination: The settlement price is determined based on the prevailing market price at the time of contract expiry.
3. Position Closure: Traders may choose to close their positions before contract expiry to avoid physical settlement.
4. Asset Transfer: For positions that are not closed before expiry, the underlying asset is transferred to the trader's spot account based on the settlement price.
5. Final Settlement: The contract is fully settled, and the trader's position is closed.

Example Delivery Times

• Perpetual Contract: Delivered daily at 8:00 AM (UTC), except for Saturdays and Sundays.
• Quarterly Contract:
  • March Quarterly Contract: Delivered on the third Friday of March at 8:00 AM (UTC).
  • June Quarterly Contract: Delivered on the third Friday of June at 8:00 AM (UTC).
  • September Quarterly Contract: Delivered on the third Friday of September at 8:00 AM (UTC).
  • December Quarterly Contract: Delivered on the third Friday of December at 8:00 AM (UTC).