Time & Maintenance Windows
Investors can trade cryptocurrency via the Bakkt platform seven days a week and every day of the year. Bakkt has a maintenance window each day from 4:30 PM-5:05 PM CT when starting, after some time clients can request to remove this maintenance window to be once a month. The system blocks new orders from entering the platform and cancels any open orders during this brief timeframe. The FIX Gateway sessions are also down during this timeframe for Bakkt to perform necessary system upgrades or installations.
The trading platform references Time-in-Force. Time-in-Force is the life expectancy of an order. The platform currently supports the following:
- Day - In cryptocurrency trading, a day can be subjective, since the trading does not align with a trading center. The Crypto platform recognizes a "day" as starting at 5:05 PM CT and ending at 4:30 PM CT the following day.
- IOC (Immediate or Cancel) - An IOC is an order to buy or sell cryptocurrency that attempts to execute all or part of the order immediately and then cancels any unfilled portion. IOC orders only require a partial fill, and Bakkt may designate them as limit or market orders. Bakkt notifies clients of these orders in the AWS S3 platform by 5:05 PM CT in the daily files.
- GTC (Good 'til Canceled) - A GTC is a type of time in force order that is effective until the trade is executed or canceled. On the crypto system a GTC will last 90 days.
The following list provides times and timing windows for various Bakkt processes.
| Event | Time | Description |
|---|---|---|
| Crypto Maintenance Window | 4:30 PM-5:05 PM CT | The Crypto platform rejects new orders and cancels any open orders during this time period for maintenance |
| FIX Gateway Session Reset | 4:40 PM-5:05 PM CT | The Crypto FIX Gateway is outside of session at this time; clients are able to log back into the session when this time period ends |
| Trading Resumes | 5:05 PM CT | Trading resumes and the Crypto platform accepts new orders beginning at this time each day (when the maintenance window ends) |
| Daily Positions File Upload | 4:50 PM-5:05 PM CT | Bakkt creates and uploads daily position files to clients' Bakkt S3 buckets every day during this time period |
| Execution Confirms File Upload | 7:30 PM-11:30 PM CT (Monday-Friday excluding public holidays) | During this time period, execution confirm files upload to clients' Bakkt S3 buckets |
| Client Trade Confirm Emails | 7:10 AM CT | Bakkt sends confirmation emails to clients to confirm executed trades for that day |
| Money Movement Fail Report (i.e., tpj_aging report) | 9:30 AM CT and 7:30 PM CT | This report provides a list of any failed money movements; the platform provides this report twice per day at these times |
| Money Movement Retries | 6:15 AM CT and 5:15 PM CT | Bakkt retries money movement calls for previously unsuccessful attempts; the platform retries attempts twice per day at these times |
Updated 9 months ago