Delisting of SNX, BAND, TRB, GRT, REN and ZRX Coin-margined Swaps

Dear Valued Users,

Huobi Futures will be delisting selected assets with relatively low liquidity and trading volumes from coin-margined swaps, this is in line with our Token Management Rules and our commitment to offer users a better trading experience.

 

Huobi Futures will delist SNX/USD swaps, BAND/USD swaps, TRB/USD swaps, GRT/USD swaps, REN/USD swaps, and ZRX/USD swaps at 03:00 (UTC) on Jan 6, 2022. The platform will use the arithmetic average of their index prices in the last hour as the delivery price to close all open positions of these swaps. At that time, all open orders of these swaps will be canceled. If the index prices are abnormal and have the possibility to be manipulated an hour before the delisting, the platform may adjust the delivery price to a reasonable level based on the actual situation.

 

To ensure the successful delisting of these swaps, Huobi Futures has adjusted the risk-control parameter settings as following:

Time

Risk Control Parameter Settings

03:00 (UTC) on Jan 5 (24 hours before the delivery)

The normal hard price limit range is ±6%, the non-basis price limit range is ±5%, basis price limit range is ±2.5%. For ZRX/USD swaps, the normal hard price limit range is ±4%, the non-basis price limit range is ±3%, basis price limit range of ±1.5%

16:00 (UTC) on Jan 5 - 24:00 (UTC) on Jan 5

The funding rate during this period is calculated as it is normally, and the upper and lower limit of funding rate for the next period is adjusted to 0%.

00:00 (UTC) on Jan 6 - 03:00 (UTC) on Jan 6

The funding rate of this period is 0%.

02:50 (UTC) on Jan 6 (10 minutes before the delivery)

The normal hard price limit range is ±1%, the non-basis price limit range is ±0.5%, basis price limit range is ±0.5%; Closing positions is allowed while opening positions is not.

 

On the current day of delisting, users with open positions will not be charged for funding at the delivery and will not have to pay delivery fees or others.

 

To avoid extreme price volatility before the delisting, please manage your risk by reducing leverages or closing positions in advance. If a forced liquidation order fails to be closed and causes over losses, the system will use the insurance fund to compensate users first, and for the parts that the insurance fund is unable to cover, the clawback mechanism will be applied. The accounts that are profitable, will share the losses proportionally.

 

After these swaps are delisted, they will be marked as “Suspended” and will not be shown on Huobi Futures a week later. The assets in users’ corresponding coin-margined swaps account will not be affected. The order history, transaction history, and transaction records will also remain accessible after the delisting, and all historical data will be retained for a week. If you need to back up any records, please extract them within the time frame on the corresponding pages of Trading Management from the website.

 

Risk Reminder: Trading digital assets and digital asset derivatives comes with high risks due to substantial price volatility. Please fully understand all the risks and make prudent decisions before trading. Please read our detailed risk reminder text here.

 

Thank you for your support!

 

Huobi Futures

December 31, 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, digital asset derivative, product, or promotion on Huobi Global.