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). 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 cost price of each open position adjusted to the settlement price.
During the settlement period, trading will be temporarily closed. Settlement will normally take around ten minutes.