Huobi launches derivative trading business

Posted 21 November, 2018

One of the leading crypto trading platforms – Huobi – announces new crypto trading business dealing with derivatives Huobi Derivative Market (Huobi DM). The new platform is now available in beta.

According to the notice on the company website, the new platform Huobi DM offers one-, two- and quarter-contracts. 

"The Huobi DM Contract adopts spread delivery. When the contract expires, all open positions will be closed at the index-based last-hour arithmetic average price, instead of physical delivery," note the company.

The first derivative offered by the exchange is a bitcoin contract "accounted in USD", with profit/loss is settled in cryptos (BTC in that case).

Every contract is said to be valued at $100. According to the released information, the company has set the following settlement dates: weekly contracts – imminent Friday, two-week – next Friday and quarterly ones – last Friday of March, June, September and December.

Meanwhile, users can benefit the leverages on the platform – 1x, 5x, 10x and 20x. A client initially sets the required leverage and then can open positions. The leverage cannot be changed later if a user has an opened position.

The company explained:

"For example, if users choose BTC weekly contract with 10x leverage, users can take 1 BTC as the margin to open long/short 10 BTC positions."

Earlier, reported that Huobi launched a unit in China to cooperate with the Chinese Communist Party as the local regulation requires.

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21 November, 2018 15:13

← Taxpayers dealing with cryptos to be checked in Spain

The tax agency of Spain (Agencia Estatal de Administración Tributaria, AEAT) reportedly stated that it would detect and monitor the financial impact coming from the new technologies (in particular, cryptos and blockchain) as measures to prevent the tax fraud. The initiative has been already added to the annual tax control plan. The National Fraud Investigation office, branch of the tax agency, has checked Spanish companies, banking organizations and intermediaries, and after that, it has formed the list of 15,000 taxpayers for more detailed examination.

Taxpayers dealing with cryptos to be checked in Spain

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21 November, 2018 12:09

Bakkt launch delayed till January →

The operator of New York Stock Exchange, Intercontinental Exchange (ICE), stated that the official launch of the Bakkt crypto trading platform has been delayed till January 2019. The company is said to consider expanding the initial offering. As the company representative said, they will release more information in the near term. It is possible that the delay can be partly related to the regulatory approvals, which were expected in November.

Bakkt launch delayed till January
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