North American Derivatives Exchange, Inc. d/b/a Crypto.com | Derivatives North America has self-certified a swap, which is an event contract on Litecoin (LTC) cryptocurrency, which will be set forth in the Exchange Rules and will be launched by the Exchange on or after November 1, 2023.

The LTC Crypto Event Contract is nearly identical in nature to the Bitcoin Event Contract that was self-certified by the Exchange on April 10, 2023, and the Ether Event Contract that was also self-certified by the Exchange on April 10, 2023. The LTC Crypto Event Contract includes Intraday, Hourly and Daily Cryptocurrency contracts on the cryptocurrency Litecoin and will be structured in the same way as the Exchange’s currently listed event contracts for Forex.

Nine strike levels will be generated for the LTC Crypto Event Contract. The Expiration Value for the LTC Crypto Event Contract will be the Index Value as specified in each Contracts’ individual specifications. Like all the Exchange Event contracts, the LTC Crypto Event Contract will have a settlement payout range from $10 to $100, or a $0 payout.

The LTC Crypto Event Contract will be listed at 8:00AM ET on the Start Date, or at the Expiration of the previously listed Event Contract (as described in the Specifications) and will cease trading pursuant to each Contracts’ individual specifications. The Exchange has at least three dedicated market makers who are committed to providing liquidity for the LTC Crypto Event Contract.

The Indicative Index for the LTC Crypto Event Contract will be determined by using the Exchange’s standard Indicative Index calculation method.

The Exchange plans to list the LTC Crypto Contracts based on the Underlying LTC cryptocurrency commodity market and settle the LTC Crypto Contracts using data from the “ICE Cryptocurrency Data” feed, distributed by ICE Data Connectivity and Feeds, Inc., as well as data from Lukka Inc.

The LTC Crypto Event Contract benefits the public interest both as a hedging tool and a trading instrument where market participants can take a market view on the price of the given commodity.

Like all the Exchange Contracts, the LTC Crypto Event Contract will be fully collateralized at the time the transaction is entered. Thus, the trader is aware of the maximum risk to enter the transaction and the risk is limited by virtue of the pre-determined Strike Levels.

Trading in the LTC Crypto Event Contract will begin at 11:00 pm ET Friday evening, and expire as indicated in the Specification.