Dear valued users：
As the Bitcoin Cash community will proceed hard forking at the night of Nov. 15, 2020 (GMT+8), Huobi Futures will execute the following plans to protect the rights and interests of users, and to avoid the uncertain risks caused by hard forking.
- Huobi Futures will deliver and suspend the BCH/USD coin-margined futures in advance at 16:00 on Nov. 13, 2020 (GMT+8, Friday). BCH/USD futures with four expirations including weekly, bi-weekly, quarterly, bi-quarterly will all be delivered and suspended at that time.
- Huobi Futures will deliver and suspend the BCH/USD coin-margined swaps at 11:00 on Nov. 15, 2020 (GMT+8, Sunday).
1. Suspension of BCH Coin-margined Futures
Huobi Futures will deliver and suspend BCH/USD coin-margined futures (including weekly, bi-weekly, quarterly, bi-quarterly contracts) at 16:00 on Nov.13, 2020 (GMT+8).
The platform will use the arithmetic average of its index prices in the last hour as the delivery price to close all open positions of this futures. At that time all open orders of this futures will be canceled. If the index prices are abnormally manipulated in an hour before the suspension, the platform may adjust the delivery price to a reasonable level according to the actual situation.
To ensure the successful suspension of BCH/USD coin-margined futures (including weekly, bi-weekly, quarterly, bi-quarterly contracts), Huobi Futures has adjusted the risk-control parameter settings as following:
|
Time |
Risk Control Parameter Settings |
|
16:00 on Nov. 12 (GMT+8) (24 hours before the delivery) |
Weeekly, Bi-weekly: Normal hard price limit range is ±4%, non-basis price limit range is ±3%, basis price limit range is ±3%; Quarterly, Bi-quarterly: Normal hard price limit range is ±9%, non-basis price limit range is ±3%, basis price limit range is ±4.5% |
|
15:00 on Nov. 13 (GMT+8) (60 minutes before the delivery) |
The delivery fee rate for BCH/USD futures is 0% |
|
15:50 on Nov. 13 (GMT+8) (10 minutes before the delivery) |
Weeekly, Bi-weekly, Quarterly, Bi-quarterly: Normal hard price limit range is ±1%, non-basis price limit range is ±0.5%, basis price limit range is ±0.5%; closing positions is supported, while opening positions is not available |
At 16:00 on the day of delivery for futures contracts with four expirations, users will not be charged for delivery fees or others.
2. Suspension of BCH Coin-margined Swaps
Huobi Futures will deliver and suspend BCH/USD coin-margined swaps at 11:00 on Nov. 15, 2020 (GMT+8, Sunday). The platform will use the arithmetic average of its index prices in the last hour as the delivery price to close all open positions of this swap. At that time all open orders of this swaps will be canceled. If the index prices are abnormally manipulated in an hour before the suspension, the platform may adjust the delivery price to a reasonable level according to the actual situation.
To ensure the successful delivery of BCH/USD coin-margined swaps, Huobi Futures has adjusted the risk-control parameter settings as following:
|
Time |
Risk Control Parameter Settings |
|
11:00 on Nov. 14 (GMT+8) (24 hours before the delivery) |
Normal hard price limit range is ±4%, non-basis price limit range is ±3%, basis price limit range of ±3% |
|
0:00 on Nov. 15 - 8:00 on Nov. 15 (GMT+8) |
The funding rate of this period is calculated normally, and the upper and lower limit of funding rate for the next period is adjusted to 0% |
|
8:00 on Nov. 15 - 11:00 on Nov. 15 (GMT+8) |
Funding rate for this period is 0% |
|
10:50 on Nov.15 (GMT+8) (10 minutes before the delivery) |
Normal hard price limit range is ±1%, non-basis price limit range is ±0.5%, basis price limit range of ±0.5%; closing positions is supported, while opening positions is not available |
At 11:00 on the day of delivery, users will not be charged for funding and will not have to pay delivery fees or others.
Note:
- If there should occur any violent fluctuations before the suspension, please control risk by lowering leverages or closing positions in advance. If there are losses caused by forced liquidation at the delivery, the system will use insurance funds to compensate users first, and the remaining part that the insurance funds not able to compensate will enter into the clawback mechanism. Each profitable account will compensate based on the proportion of its profit.
- After the delivery is completed, the BCH/USD coin-margined futures and swaps will be marked as “Suspended”. The assets in users’ BCH/USD coin-margined futures and swaps account will not be affected. The order history, transaction history, and transaction records will also be available to query after the suspension of BCH/USD coin-margined futures and swaps. If you need to back up records, please export in time on the corresponding pages of Trading Management on WEB.
- Please refer to the latest announcement for the trading resumption time of BCH/USD coin-margined futures and swaps.
Thank you for your support to Huobi Futures!
Huobi Futures
Oct. 30 2020
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