Retirement Schedule of Existing Mainland China User Accounts for Margin and ETPs
Dear Valued Users,
Underpinning Huobi Global’s commitment to local compliance policies, we will retire Mainland China user accounts in an orderly manner while ensuring the safety of user assets.
Please see the following(tentative)schedule engaged for Margin and ETP trading:
1. Margin Trading
- For Mainland China users, Huobi Global will cease Cross/Isolated Margin loan services at 08:00 (UTC) on Oct 8.
- For Mainland China users, Huobi Global will cease Cross/Isolated Margin trading/transfer services at 03:00 (UTC) on Oct 20. At that time, pending orders will be canceled over the course of different phases, and compulsory repayment will be triggered if users do not return borrowed assets. The remaining assets will be transferred to Exchange accounts within 48 hours after this point in time.
We highly recommend that users repay borrowed assets in a timely manner to avoid any losses caused by compulsory repayment. Users from other unrestricted countries or regions will not be affected.
2. ETP Trading
- For Mainland China users, Huobi Global will cease ETP subscription services at 08:00 (UTC) on Oct 8, while still enabling buys, sells, and redemption services for all global clients.
- Huobi Global will cease ETP trades for all users at 03:00 (UTC) on Oct 13. ETP assets belonging to existing Mainland China users will be converted to USDT at the average net price designated at 02:00 - 03:00 (UTC) on Oct 13, before suspension of services. These assets will be transferred to users’ Exchange accounts within 14 days after we buy back their ETP shares. The average net value will be calculated based on the average closing price per minute during the retirement.
- We highly recommend that Mainland China users redeem their ETP shares in advance to avoid any risks introduced by potential price volatility, before trading ceases. Other ETP traders from unrestricted countries or regions will not be affected.
- Huobi Global will resume ETP trading following the completion of the retirement process. The specific resumption time will be provided in a future notice. Users in non-restricted countries/regions are strongly advised to assess their position risks in advance to avoid losses due to violent market fluctuations during the suspension period, and it’s recommended to trade or redeem your existing ETP shares in advance.
- “Mainland China users” above refer to users certified as mainland China citizens on Huobi Global. Huobi Global will evaluate users who have not done ID Verification by their registration nationality. The schedule above is tentative, and we will notify you in advance if there are any changes.
Thank you for your support!
October 2, 2021
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Huobi Global reserves the right in its sole discretion to amend or change or cancel this announcement at any time and for any reasons without prior notice. The above is for information purposes only and Huobi Global makes no recommendations or guarantees in respect of any digital asset, product, or promotion on Huobi Global. Prices of digital assets are highly volatile and trading digital assets involves risk. Please read our Risk Reminder text here.