# 2026-19408: Bitnomial Fine-Tunes Futures Rules for Smooth Sailing 2026-19408, Self-Regulatory Organizations; Bitnomial Exchange, LLC; Notice of a Filing of a Proposed Rule Change Relating to Security Futures Product Listing Standards, Customer Margin and Related Rules, is a Federal Register notice from Securities and Exchange Commission published 2026-09-23; PRIA reads it as touching household money (as of 2026-09-30). - Canonical: https://policyrisk.com/federal-register/2026-19408 - As of: 2026-09-30 - Plain-text twin of the page above; the HTML and this file carry the same facts. ## Facts - Document number: 2026-19408 - Title: Self-Regulatory Organizations; Bitnomial Exchange, LLC; Notice of a Filing of a Proposed Rule Change Relating to Security Futures Product Listing Standards, Customer Margin and Related Rules - Type: Notice - Agencies: Securities and Exchange Commission - Citation: 91 FR 60438 - Published: 2026-09-23 - Effective: unknown - Comments close: not stated - Significant: no - Touches household money: yes - Regulation identifier numbers: none - Last updated: 2026-09-30 ## In one line Bitnomial Fine-Tunes Futures Rules for Smooth Sailing ## Summary Bitnomial Exchange is updating the rules for trading security futures on individual stocks, making it easier and clearer for customers and traders. These changes set new standards for what securities can be listed, how contracts work, and how customer money is handled. The updates will take effect after approval from regulators, aiming to keep trading safe and smooth without extra costs for users. ## Effects PRIA read - Customer margin floor: 15.25% of value: cost, high. If you hold security-futures for customers, the Exchange requires a minimum initial and maintenance customer margin equal to 15.25% of the current market value of each unhedged long or short position. That 15.25% floor applies alongside any higher applicable rules and is recalculated as market valu… - High listing thresholds for eligible stocks: cost, medium. The Exchange will only list single-stock security futures if the underlying common stock or qualifying ADR meets initial tests including at least 7,000,000 publicly held shares, 2,000 holders, deliverable supply over 20,000,000 shares, market capitalization of at least $100 billion, and average dai… - Standard position limit: 200,000 contracts: cost, medium. The Exchange sets a standard position limit of 200,000 contracts for single-stock perpetual futures, with each contract equal to 100 shares. At that size, the limit corresponds to 20,000,000 shares. Limits are applied each trading date and must meet deliverable-supply requirements. - Perpetual contract specs, tick and trading hours: benefit, low. Single-stock perpetual futures will trade as 1 Contract = 100 shares, with a minimum trading unit of 0.01 share and prices quoted in U.S. dollars per share. The minimum tick is $0.01 per share (equal to $1 per full Contract). The standard trading week is 24/5 from 19:00 Central Prevailing Time (CPT… - Funding payments and perpetual settlement mechanics: mixed, medium. Perpetual contracts will have funding calculations and funding payments at 03:00, 11:00 and 19:00 CPT each day. Funding rates are computed from 15-second market samples during each interval; a positive Funding Rate makes longs pay shorts, a negative rate makes shorts pay longs, and an adjustment co… - Customer fund segregation and account treatment: benefit, medium. SFP customer funds must be held in futures accounts subject to Commodity Exchange Act Section 4d segregation unless the Clearinghouse permits securities-account treatment under SEC Rule 15c3-3; any securities-account exception does not waive applicable securities-account requirements. The Clearingh… - Insider trading and material nonpublic information ban: benefit, low. The Exchange prohibits trading a security-futures product by an issuer officer or director (within the meaning of Section 16) and by anyone possessing material nonpublic information about the issuer or underlying security. The trading restriction is imposed by Rule 402.17. - Broker-dealer registration and statutory-disqualification checks: benefit, low. Participants and Clearing Members in SFPs must meet applicable broker-dealer registration requirements and pass Exchange Act statutory-disqualification screening under Section 3(a)(39). Clearing Members must satisfy customer SFP broker-dealer registration and statutory-disqualification conditions. - Affiliate conflict limits and unaffiliated clearing-members rule: benefit, low. The Exchange's conflict policy and rules require information barriers, equal access, public-director oversight, and provide that an affiliated futures commission merchant (FCM) shall not be the sole Clearing Member; at least two existing unaffiliated Clearing Members are required before the affilia… ## Related documents - [2026-20466](https://policyrisk.com/federal-register/2026-20466): Adviser and Regulated Fund Custody Rules; Crypto Custody Rules, 2026-10-06 - [2026-19260](https://policyrisk.com/federal-register/2026-19260): Rescission of Rule 14a-8's Federal Regulation of Shareholder Proposals and Amendments to Rule 14a-4, 2026-09-21 - [2026-18424](https://policyrisk.com/federal-register/2026-18424): Political Contributions by Certain Investment Advisers, 2026-09-10 - [2026-18190](https://policyrisk.com/federal-register/2026-18190): Transfer Agent Rules, 2026-09-04 - [2026-17183](https://policyrisk.com/federal-register/2026-17183): Regulation Crypto Assets, 2026-08-21 - [2026-12163](https://policyrisk.com/federal-register/2026-12163): The Trade-Through Rule and Locked and Crossed Markets Provisions of Regulation NMS, 2026-06-17 ## Sources - [2026-19408 on federalregister.gov](https://www.federalregister.gov/documents/2026/09/23/2026-19408/self-regulatory-organizations-bitnomial-exchange-llc-notice-of-a-filing-of-a-proposed-rule-change) - [2026-19408 as published (PDF)](https://www.govinfo.gov/content/pkg/FR-2026-09-23/pdf/2026-19408.pdf) ## Related - [Previous: 2026-19407, Self-Regulatory Organizations; Coinbase Derivatives, LLC; Notice of Filing and…](https://policyrisk.com/federal-register/2026-19407) - [Next: 2026-19409, Self-Regulatory Organizations; KalshiEX LLC; Notice of Filing and Immediate Eff…](https://policyrisk.com/federal-register/2026-19409) - [All Federal Register documents](https://policyrisk.com/federal-register) Source: PRIA, https://policyrisk.com/federal-register/2026-19408 (as of 2026-09-30).