US-based digital asset exchange Gemini today, Tuesday, March 21, 2017, will begin conducting daily auctions at 6:00 p.m. Japan Standard Time (5:00 p.m. SGT/HKT, 09:00 UTC) to officially launch their Asia-focused bitcoin auctions.
This will allow investors and traders on the other side of the world to engage in the same kind of price discovery the company has been facilitating for the last six months in North American time zones.
The mechanics will be the same as Gemini’s 4:00 p.m. ET bitcoin auction.
Cameron Winklevoss, Co-Founder, and President at Gemini said:
“Ever since we launched our first daily bitcoin auction on September 21, 2016, we’ve been excited by its success and its ability to match buyers and sellers at a single moment of the day. Because of our current 4:00 p.m Eastern Time auction falling during the early morning hours in East Asia, it’s inconvenient for many members of the bitcoin trading community.”
|ET Auction||JST Auction|
|ET||UTC (EDT)||UTC (EST)||JST||SGT/HKT||UTC|
|AO Orders Accepted||6:00 a.m.||10:00||11:00||08:00||7:00 a.m.||23:00|
|Indicative Prices||3:50 p.m.||19:50||20:50||17:50||4:50 p.m.||08:50|
|AO Orders Locked In||3:59 p.m.||19:59||20:59||17:59||4:59 p.m.||08:59|
|Auction||4:00 p.m.||20:00||21:00||18:00||5:00 p.m.||09:00|