KuMEX launches Bitcoin Quarterly Futures contracts – Bitcoin Futures News

KuMEX has launched quarterly futures contracts of bitcoin. The contracts differ from the usuals and hold an expiry date. They will be settled to the amount derived from the underlying asset as per the prespecified rule. The KuMEX BTC contracts are available to trade and will be listed on the exchange for two consecutive years.

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KuCoin’s derivatives exchange KuMEX has launched bitcoin quarterly futures contracts.

As revealed, the contracts differ from the already existing perpetual contracts on the exchange and possess an expiry date. Also, they will be settled at a price inferred from the underlying asset following the prespecified rule. The contracts will be delivered on the last Friday of the contract month, and the amount to settle at is a 30-minute time-weighted average price (TWAP) of the spot index at midnight UTC on the distribution date exchange detailed, the exchange informed.

The declaration stated, “If today is May 1, then the contract month will be June and September. Traders can identify the contract month according to the contract ticker. For example, the ticker for a Bitcoin contract to settle in December 2019 is XBTZ19.”

KuMEX is rendering 20x leverage on the contracts and will list them for two sequential years.

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Saloni Sheelwant
Saloni Sheelwant treasures to research and write about the new startups and technologies thriving at a very fast pace.

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