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Huobi has just announced the launch of its trading of derivatives of crypto-currencies, the derivatives market of Huobi (Huobi DM). The Singapore-based exchange has announced that the platform will initially deal with Bitcoin contracts in USD.
Huobi Cryptocurrency Derivatives Market
The cryptocurrency trading platform announced the launch of Huobi DM at the Cryptofrontiers Conference in New York on Wednesday (November 28, 2018).
According to the company, Huobi DM represents the next step in virtual currency trading, combining cryptocurrency derivatives and a multitude of digital badet trading services.
Joshua Goodbody, senior legal counsel for the company's global institutional team, said:
Cryptocurrency is a growing and maturing market. As part of this maturation, we are seeing more and more investors and sophisticated traders from more established financial markets seeking to gain exposure, including institutional players. At the same time, we believe that many experienced and successful cryptocurrency traders are looking for a wider range of investment instruments than those previously available. Huobi DM has been custom designed to meet these needs.
Huobi DM will offer weekly, bi-weekly and quarterly contracts. Weekly and bi-weekly contracts will be settled on Friday, while quarterly contracts will be held on the last Friday at the end of each quarter – March, June, September and December.
The beta of the derivatives market of Huobi is live!
To celebrate this great launch:Start trading and take three surprises at home! Https: //t.co/QFv2DSdmn9
Start a new era of derivative trading of digital badets. pic.twitter.com/w4izGEB4Sz– Huobi Global (@HuobiGlobal) November 21, 2018
Unique advantages of the platform
While Huobi recognizes that it is not the only player in the market for virtual currency derivatives, the company remains confident as to the uniqueness of its offer. According to Huobi, its cryptographic derivatives platform has certain advantages over similar services on the market.
For its part, Huobi DM offers flexible leverage options (1X, 5X, 10X and 20X), as well as robust risk management protocols. The platform also offers zero market trading and investor protection trading fees, which includes a 20,000 BTC insurance fund against all forms of losses.
According to a statement posted on the company's website, the contract with BTC will be the first to be launched on Huobi DM. BTC's contract will be denominated in USD, with the cryptocurrency itself serving as a means of settling the commercial result.
The statement also revealed that each BTC contract had a face value of US $ 100 with the minimum change in the backlog price set at US $ 0.01. Huobi DM is already in the beta test phase but is not available in the following countries.
United States of America, Singapore, Israel, Iraq, Hong Kong (China), Cuba, Iran, North Korea, Sudan, Malaysia, Syria, Eastern Samoa, Puerto Rico, Guam, Bangladesh, Ecuador and Kyrgyzstan.
Do you think that Huobi DM will be able to position itself favorably with other cryptocurrency derivatives platforms on the market? Let us know your thoughts in the comment section below.
Image reproduced with the kind permission of Twitter (@HuobiGlobal), Shutterstock
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