Huobi Futures plans to delist USDT/USD stablecoin futures
Dear valued users：
Huobi Futures plans to delist USDT/USD stablecoin futures (Weeekly, Bi-weekly, Quarterly, Bi-quarterly) at 16:00 on October 20, 2020 (GMT+8). Futures trading of other trading pairs won’t be affected. 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 delisting, the platform may adjust the delivery price to a reasonable level according to the actual situation.
To ensure the successful delisting of stablecoin USDT/USD stablecoin futures, Huobi Futures has adjusted the risk-control parameter settings as following:
Risk Control Parameter Settings
16:00 on Oct. 19 (GMT+8)（24 hours before the delivery）
Weeekly, Bi-weekly： Normal hard price limit range is ±0.75%, non-basis price limit range is ±0.5%, basis price limit range is ±0.5%
Quarterly, Bi-quarterly：Normal hard price limit range is ±2%, non-basis price limit range is ±0.5%, basis price limit range is ±0.75%
15:00 on Oct.20 (GMT+8)（60 minutes before the delivery）
The delivery fee rate for USDT/USD stablecoin futures is 0%
15:50 on Oct.20 (GMT+8)（10 minutes before the delivery）
Weeekly, Bi-weekly, Quarterly, Bi-quarterly：Normal hard price limit range is ±0.5%, non-basis price limit range is ±0.25%, basis price limit range is ±0.25%; closing positions is supported, while opening positions, transfer-in and transfer-out are not available
At 16:00 on the current day of delisting, users with open positions will not be charged for delivery fees or others.
If there should occur any violent fluctuations before the delisting, please control risk by reducing leverages or closing positions in advance. If there are losses caused by forced liquidation, 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 stablecoin USDT/USD futures is delisted, it will be marked as “Suspended” and will not be shown on Huobi Futures one week later. The assets of users’ stablecoin USDT/USD futures account will not be affected and the transfer-out function could also be used within one hour after the suspension. The order history, transaction history, and transaction records will also be available to query after the delisting of stablecoin USDT/USD futures, and all historical data will be retained for one week. If you need to back up records, please export in time on the corresponding pages of Trading Management on WEB.
Thank you for your support to Huobi Futures!
Oct. 16, 2020
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