# Expiration Term On DMEX each trade is an electronic agreement between two parties, one taking one side of the trade and the other party taking the other side. On DMEX everyone is not trading the same futures contract, the futures contract is unique for each order and can have a predefined term. When creating an order, the user generates a new electronic agreement that can have any expiration term, therefore when opening a position with a 90D expiration term, it will expire in 90 days from order creation (not on quarterly basis). The expiration term is the number of blocks before the position will be settled using the price from the Oracle. $$ ExpirationBlock = Current Block + ExpirationSeconds/14 $$ The chosen expiration term is converted to seconds.The seconds are then divided by 14 (the current rate of block generation is 1 block each 14 seconds) and added to the latest block number. This gives us the block number when the position will expire. {% hint style="info" %} The actual expiration time may vary since the rate of new blocks can vary in time. However the actual expiration time will be reasonably close to the predicted expiration time. {% endhint %} --- # Agent Instructions: Querying This Documentation If you need additional information that is not directly available in this page, you can query the documentation dynamically by asking a question. Perform an HTTP GET request on the current page URL with the `ask` query parameter: ``` GET https://docs.dmex.app/orders/expiration-term.md?ask= ``` The question should be specific, self-contained, and written in natural language. The response will contain a direct answer to the question and relevant excerpts and sources from the documentation. Use this mechanism when the answer is not explicitly present in the current page, you need clarification or additional context, or you want to retrieve related documentation sections.