Crypto Facilities, the London cryptocurrency derivatives exchange announced that starting today, Friday, March 16th, 2018, the company will be making several changes to its Futures maturity schedule and contract specifications to improve the trading experience and pool liquidity.
Going forward, a weekly, monthly, and quarterly Futures contract is listed at any time and for all currency pairs.
Additionally, the last trading days are Fridays for weekly contracts, and the last Friday of the month/quarter for monthly/quarterly contracts.
Update Summary:
- XBTUSD Turbos are phased out in order to pool liquidity with XBTUSD Futures
- Leverage changes from 6x to 50x for XBTUSD Futures and from 6x to 20x for XRPUSD and XRPXBT Futures
Newly listed Futures settle on the following indices (90 seconds after the last trading):
XBTUSD Futures: the CME CF Bitcoin Reference Rate (BRR)
XRPUSD Futures: the (RRR)
XRPXBT Futures: the (RRR_XBT)
Real-time margining is based on the corresponding real-time indices (BRTI), (RRTI) and (RRTI_XBT) which tick every second. Crypto Facilities has made these changes to improve the trading experience in several ways:
- Last Trading times and settlement prices are aligned with important markets such as CME Group
- At any time, a weekly, monthly and quarterly Futures contract will be available to trade and roll into XBTUSD maturities are reduced from 6 to 3 to pool liquidity
- The time period between the Last Trading and settlement is reduced from 2 hours to 90 seconds
Accordingly:
No further XBTUSD Turbos are will be listed. Turbos will be phased out after the last trading of the March 23rd, 2018 contract. This means no 30 March and 14 September contracts are listed. Instead, 27 April monthly contracts are listed.
Other Notes:
- Outstanding 15 June contracts will be classified as “quarterly”, and no additional 29 June contracts will be listed
- Ticker symbol syntax remains unchanged such that API interaction is unaffected