Price Limit of Futures

In order to prevent market manipulation, the contract platform limits the users’ opening and closing prices.

( Note: Corresponding parameters might be adjusted according to the market condition, without further notification )

For example: The price limit of BTC quarterly contract

For example, take the non-basis price limit range of BTC as ± 4%, normal hard price limit range of ±15%, basis price limit range of ±6%

Within 10 minutes after a new contract is generated: (No basis price limit)：

Highest bid price = min [ spot index * ( 1 + 15% ) , spot index * ( 1 + 4% ) ]

Lowest ask price = max [ spot index * ( 1 - 15% ) , spot index * ( 1 - 4% ) ]

10 minutes after the contract is generated（ Basis price limit）:

Highest bid price = min [ ( Basis average of the past 10 minutes + spot index ) * ( 1 + 6% ) , spot index * ( 1 + 15% ) ]

Lowest ask price = max [ ( Basis average of the past 10 minutes + spot index ) * ( 1 - 6% ) , spot index * ( 1 - 15% ) ]

Rules above apply to both opening and closing positions. When opening long or closing short, if the buy order price is higher than the highest bid quotation, strict price limit will be triggered; When opening short or closing long, if the sell order price is lower than the lowest ask quotation, strict price limit will also be triggered.

Limit price before delivery

The current weekly futures of each variety will have a special limit price before delivery, the price limit range within 10 minutes before the delivery of the weekly futures is ± 1%;

Assume that the normal hard limit interval of the BTC weekly-contract is ± 6%, and the limit price within 10 minutes before delivery is ± 1%;
Limit price within 10 minutes before contract delivery:
Highest bid price = min (spot index * ( 1 + 1% ) , spot index * ( 1 + 6% ) )

Lowest ask price = max (spot index * ( 1 - 1% ) , spot index * ( 1 - 6% ) )

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