Announcement on the Delisting of Woo and XCH Coin-margined Swaps

Dear Valued Users,

Based on the Token Management Rules of Huobi Futures and to provide users with better trading service, Huobi Futures will delist some assets with relatively low liquidity and the trading volume for coin-margined swaps.

Huobi Futures plans to delist WOO/USD swaps and XCH/USD swaps at 3:00 am on Sep. 10, 2021 (UTC). The platform will use the arithmetic average of their index prices in the last hour as the delivery price to close all open positions of these swaps. At that time all open orders of these swaps will be canceled. If the index prices are abnormally manipulated an hour before the delisting, the platform may adjust the delivery price to a reasonable level according to the actual situation.

To ensure the successful delisting of these swaps, Huobi Futures has adjusted the risk-control parameter settings as following:

Time

Risk Control Parameter Settings

3:00 on Sep. 9 (UTC) (24 hours before the delivery)

The normal hard price limit range is ±6%, the non-basis price limit range is ±5%, basis price limit range is ±2.5%.

16:00 on Sep. 9 - 24:00 on Sep. 9(UTC)

The funding rate of this period is calculated normally, and the upper and lower limit of funding rate for the next period is adjusted to 0%.

0:00 on Sep. 10 - 3:00 on Sep. 10 (UTC)

The funding rate of this period is 0%.

2:50 on Sep. 10 (UTC) (10 minutes before the delivery)

The normal hard price limit range is ±1%, the non-basis price limit range is ±0.5%, basis price limit range is ±0.5%; Closing positions is allowed while opening positions is not.

On the current day of delisting, users with open positions will not be charged for funding at the delivery and will not have to pay delivery fees or others.

If any violent fluctuations should occur before the delisting, please control risk by reducing leverages or closing positions in advance. If there are losses caused by forced liquidation, the system will use insurance funds to compensate users first, and the remaining part that the insurance funds are not able to compensate will enter into the clawback mechanism. Each profitable account will compensate based on the proportion of its profit.

After these swaps are delisted, they will be marked as “Suspended” and will not be shown on Huobi Futures one week later. The assets in users’ corresponding coin-margined swaps account will not be affected. The order history, transaction history, and transaction records will also be available to query after delisting these swaps, and all historical data will be retained for a week. If you need to back up any records, please extract them in time on the corresponding pages of Trading Management on WEB.

Thank you for your support!

 

Huobi Futures

Sep. 3, 2021

 

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Huobi Global reserves the right in its sole discretion to amend or change or cancel this announcement at any time and for any reasons without prior notice. The above is for information purposes only and Huobi Global makes no recommendations or guarantees in respect of any digital asset, product, or promotion on Huobi Global. Prices of digital assets are highly volatile and trading digital assets are risky. Please read our Risk Reminder text here.