1) Settlement date
The Nexybit Futures platform has implemented a quarterly settlement system for all contracts. All contracts will be settled at 08:00 UTC on the last Friday in March(3), June(6), September(9), December(12). During the settlement period, trading will be temporarily closed. Settlement will normally take around ten minutes.
2) Settlement of Unrealized Profit and Loss
Unrealized Profit and Loss will be settled to the Account Balance. If according to the settlement price the Unrealized Profit and Loss is calculated to be negative (positive), the Account Balance will be reduced (added) by the equivalent amount. After settlement is completed, the Unrealized Profit and Loss of each contract will be reset to zero, and the price of each open position adjusted to the settlement price.
3) Settlement Price
To prevent misconduct raising futures prices by adjusting spot prices, the price used for settlement will be calculated as the time weighted average of the Nexybit index over the last 60 minutes before expiration. The Nexybit Index Price gets calculated every 2 seconds.