Dear valued customers,
The BCH market has become extremely volatile due to the imminent Bitcoin Cash (BCH) hard fork and the significant uncertainty of the digital asset's development. To avoid potential losses to our customers caused by the short-term volatility and possible market manipulation attempts, we have decided to deliver all BCH contracts shortly after this announcement. The details are as follows:
- Affected contracts: BCH1116 (weekly), BCH1123 (bi-weekly), BCH1228 (quarterly)
- Trading stop time: 09:05am Nov 14, 2018 CET (UTC +1)
- Delivery time: 10:00am Nov 14, 2018 CET (UTC +1)
- Delivery price: the last traded price of the contract at 09:05am Nov 14, 2018 CET (UTC +1). However, if the last traded price is found maliciously manipulated, we will adjust it to a reasonable level according to the market situation.
- At 09:05am Nov 14, 2018 CET (UTC +1), order placement and matching system will be stopped. We will record the last traded prices of all BCH contracts.
- At 10:00am Nov 14, 2018 CET (UTC +1), all contracts will be delivered based on the last traded prices. Bankruptcy positions (if any) will be covered by the insurance fund or socialized according to our standard approach.
- Whether we will recreate a BCH or BCH-fork contract: we will evaluate the market situation after the fork and decide on a course of action on a later date;
- We will waive the standard delivery fees for this early delivery.
We deeply apologize for the imposition of this early delivery and the inconvenience it may cause to you. Please understand that we have made this decision in the consideration of the overall market health. As always, maintaining a robust market for our traders is our top priority and we are doing everything we can on our end.
For the explanation of the early delivery, please see:
Nov 14, 2018