Bitcoin Quarterly Delivery Contracts Launched on KuMEX | BTCMANAGER
Bitcoin, Blockchain & Cryptocurrency News
KuMEX, the derivatives platform of KuCoin cryptocurrency exchange, announced the launch of Bitcoin quarterly delivery contracts on October 31, 2019. The announcement comes shortly after the confirmation of monthly Bitcoin futures contracts made during the Blockchain Life 2019 Forum held in Moscow, Russia.
Quarterly Bitcoin Contracts
KuMEX, the KuCoin branch focused exclusively on derivative futures contracts launched in July of this year, has expanded its service offering with the introduction of Bitcoin quarterly delivery contracts available starting October 30.
This new product differs from the contracts already present on the platform. To start, the contracts will have an expiration date and the settlement will be executed based on the underlying asset following a set of pre-specified rules.
According to the announcement on Medium, the delivery date of the KuMEX Bitcoin Quarterly Delivery Contract is the last Friday of the contract month. The price will be established based on a Time Weighted Average Price (TWAP) of 30 times taking as a reference time value 12:00 UTC on the delivery date.
An Attractive Platform for Traders
Although KuMEX was launched just over two months ago, its features have allowed it to earn a significant userbase. KuMEX contracts are listed against the US dollar with a 20x leverage that is very attractive to traders. Furthermore, to reduce liquidity problems, the platform establishes a negative maker fee of – 0.025 percent, a unique feature in the crypto derivatives market.
The Bitcoin price is calculated based on a weighted average Bitcoin price taken from six exchanges which are: Coinbase Pro,