Derivatives contract trading suspension and delistings

The Kraken MTF may temporarily suspend trading and/or permanently delist derivatives contracts from our platform.

These actions are not taken lightly and will generally only occur in exceptional circumstances.

Causes for suspension or delisting of a market:

Temporary trading suspensions or contract delistings can occur for various reasons to ensure a fair and order market.

Examples which may lead to suspension/delisting of a market:

• Extreme volaility
• Hard forks
• Issues with general operations of a contract's underlying asset
• Issues with a contract's underlying index
• Regulatory or legal concerns
• Rebranding or migration of the underlying asset

When possible, we will notify clients in advance via a platform notification.

Temporary Trading Suspension

In the event of a disorderly market we may temporarily set a contract to “post-only”.
“Post-only” means that only limit orders that do not cross the order book can be placed. During the post-only period, no executions or liquidations can occur until after the post-only mode is removed.
It is possible that, upon placing a temporary suspension on the trading of a derivatives contract of an asset, the spot market of such asset becomes sufficiently orderly, in which case trading of the derivatives contract may be re-enabled.

In some cases the MTF may delist a derivatives contract shortly after a temporary suspension has been placed.

Contract Delisting

On occasion the MTF may delist a contract due to one or more of the reasons outlined above.
A contract delisting involves the complete suspension of trading, settlement of the contract and removal of the contract from the platform indefinitely.
A fair and reasonable settlement price will be determined by Kraken at our sole discretion.
Contracts may be settled with a volume-weighted and time-segmented TWAP methodology that incorporates deviation safeguards to spot transactions.

A contract may be set to “post-only” prior to delisting, however this is not a guarantee.

Delisted Derivatives Contracts

The settlement prices are calculated by applying a volume weighted, time segmented TWAP methodology that incorporate deviation safeguards to spot transactions observed in the underlying spot markets operated on the constituent exchanges in a 60-minute observation period.

The table below details delisted contracts and their settlement prices: