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.