I did recently a 40 contract trade which showed 0.2 BTC trading fee. I started to think how it works and realized that the more BTC is gaining in price against the dollar the more trading fee is.
1 contract is worth 10 USD and the trading fee for that is 0.005 BTC. At the current USD/BTC level (22 USD) that means the trading fee is 0.11 USD:
1 contract = 10 USD = 0.11 USD fee (at 22 USD/BTC level) = 1.1% fee (2.2% for both trades)
Let's see what fee will be at 44 USD/BTC level - calculation is pretty simple:
1 contract = 10 USD = 0.22 USD fee (at 44 USD/BTC level) = 2.2% fee (4.4% for both trades)
But trading contract means that you essentially have to sell and buy or buy and sell therefore fees have to be doubled.
I think that the current trading fee is already huge (1.1% and 2.2% for opened and closed trade). It will soon be untradable if the BTC price goes higher which is rather probable.
Topic: ICBIT Derivatives Market (USD/BTC futures trading) - LIVE - page 26. (Read 97688 times)
Do not see see the NEW oil and gold futures?
Ok, finally the improved web design is up on Icbit. There are still a few minor things to fix here and there, but overall it should make the experience of using Icbit web site more smooth and easier to learn.
If there is anything wrong - please report here.
If there is anything wrong - please report here.
I'm rolling up a few updates to the website, so it may be on and off till night (european time). If you're logged in, your trading is not going to be affected. Trying to make downtime as small as possible.
New GOLD and OIL futures with April 2013 expiration are already there, so feel free to put your orders.
very much appreciated!
New GOLD and OIL futures with April 2013 expiration are already there, so feel free to put your orders. Specification and more updates come next day.
It cannot. You can only place bids/asks within the limit, and cannot accept bids/asks outside the 10% limit either.
Margin call and stop out levels are the same? 0.75im?Forty ticks to breakeven?
The formula is empiric, however, now it's 75% of the maximum possible variation margin within given trading limits.
"Maximum price change within one trading session: 10% in each direction relative to the close price of the last trading session."What's is going to happen if the price breaks the trading limits during the current session?
The formula is empiric, however, now it's 75% of the maximum possible variation margin within given trading limits.
"Maximum price change within one trading session: 10% in each direction relative to the close price of the last trading session."What's is going to happen if the price breaks the trading limits during the current session?
Does anybody know how Initial Margin is calculated as a function of the price?
The formula is empiric, however, now it's 75% of the maximum possible variation margin within given trading limits.
Or using simple words: if one buys 1 contract at the highest price of the trading range, and then sells it at the lowest possible price - this gives max. possible loss for the current session. Variation margin is set to 75% of this percent.
Now, for example, if you want to buy 100 contracts worth of $1000 in total, the initial margin required would be 7 BTC (or roughly $140).
Does anybody know how Initial Margin is calculated as a function of the price?
This price will not be used to issue margin calls. I will fix it so that ...
Sorry, but then what the word "last" means? I thought it is the price of the last deal of the futures contract 
Yes, however if there were no deals within recent N minutes, it's computed as the middle between best ask and best bid, to track the market move and manage risks.
This price will not be used to issue margin calls. I will fix it so that ...
Sorry, but then what the word "last" means? I thought it is the price of the last deal of the futures contract Why the "last price" is higher than trading range?
This price will not be used to issue margin calls. I will fix it so that it remains within trading range boundaries. 
I seem to be misunderstanding something: I'm trying to submit a sell order on BUH3: 1 for 22.50. Page says: "specified price is not within allowed range". Can someone explain that to me?
Why the "last price" is higher than trading range?
Extra clearing will happen only if the spot BTC/USD rate goes above the current futures trading range ($22.11 per 1 BTC today).
How this could be? 
This is fixed now, and all rejected and pending BTC withdrawals will show up in your Transactions table.
They do indeed. Thank you very much for fixing this!Jump to: