Excluding BTC and ETH contracts, all contracts will be settled at 16:00 pm every FridayUTC+8).
BTC and ETH contracts adopt real-time settlement mechanism which will go on a trial run until December 31, 2019.
With this service, users can withdraw the realized profits (deducting the floating losses and frozen margin) instantly after closing the BTC and ETH contracts. BTC and ETH contracts users don’t have to wait and withdraw until weekly settlement on each Friday, allowing more flexibility for use of funds.
System takes the Volume Weighted Average Price (VWAP) of last hour of the traded price for that contract.
What is settlement
Every Friday, all contracts, except weekly contracts, undergo settlement at 16:00 (UTC+8).
After the settlement, users can transfer the profit and loss into the account balance, allowing users to make use of the profit (if any). However, settlement does not affect the equity of the account.
The following changes may take place during settlement:
- The UPL that needs to be settled will be calculated from the settlement price, standard settlement price and the number of existing positions, which will be integrated into the RPL. And the RPL of each contract will be transferred into the account balance after clawback.
- After the settlement, the average position price of the contract will become the settlement price. Subsequent UPL will be calculated based on the new settlement price.
16:00 Friday (UTC+8) of the last week of the contract
The price is the arithmetic mean value of last hour of USD indexes of each coins before delivery.
When contracts expire, delivery will take place, which is executed in digital asset price difference to close the positions on all expired contracts.
The profit and loss generated from the delivery will be added into RPL.
Commission will be generated during the delivery, which will also be calculated into RPL.
In last 10 minutes before delivery, users can close positions, but not open positions.
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