Huobi Futures will deliver and settle all users' derivatives contract positions and retire Mainland China user accounts

Dear Valued Users,

Underpinning Huobi Global’s commitment to local compliance policies, we will retire Mainland China user accounts in an orderly manner over the next few months, while ensuring the safety of user assets. 

 

All derivatives trading will be halted for all users after delivery on Oct. 29, 2021, including coin-margined futures, coin-margined swaps and USDT-margined swaps. Please see the following (tentative) schedule:

 

I. Coin-margined Futures:

  • New coin-margined futures will not be generated after delivery of existing ones at 08:00 (UTC) on Oct 8, 2021.
  • Current quarterly and bi-quarterly coin-margined futures will continue to be in play after delivery at 08:00 (UTC) on Oct 15, 2021.
  • Huobi Global will deliver quarterly and bi-quarterly coin-margined futures at 8:00 (UTC) on Oct 29, 2021.
  • For open quarterly and bi-quarterly coin-margined futures positions, the platform will use the weighted average spot index prices 60 minutes before delivery as the delivery price to close positions for all users. If the index prices fluctuate unusually in the 60 minutes prior to delivery, the platform may adjust the delivery price to a reasonable level according to the actual situation.
  • To ensure the successful delivery of coin-margined futures, Huobi Futures is planning to make the following adjustments for Risk Control Parameters:

  • Please kindly note that you do not need to pay delivery fees or other fees when delivery of quarterly and bi-quarterly coin-margined futures occurs at 08:00 (UTC) on Oct 29.

 

II. Coin-margined Swaps:

  • Coin-margined swaps will be delivered for all users at 03:00 (UTC) on Oct 27.
  • For open coin-margined swap positions, the platform will use the weighted average spot index prices 60 minutes before delivery as the delivery price for closing positions, and cancel all pending orders.
  • If the index prices fluctuate unusually in the 60 minutes prior to delivery, the platform may adjust the delivery price to a reasonable level according to the actual situation.
  • To ensure the successful delivery of coin-margined swaps, Huobi Futures is planning to make the following adjustments to Risk Control Parameters:

  • Please kindly note that you do not need to pay funding fees or other fees when delivery takes place at 03:00 (UTC) on Oct 27.

 

III. USDT-margined Swaps:

  • All USDT-margined swaps will be delivered for users at 03:00 (UTC) on Oct 28.
  • For open USDT-margined swap positions, the platform will use the weighted average spot index prices 60 minutes before delivery as the delivery price for closing positions, and withdraw all pending orders.
  • If the index prices fluctuate unusually in the hour before delivery, the platform may adjust the delivery price to a reasonable level, according to the actual situation.
  • To ensure the successful delivery of USDT-margined swaps, Huobi Futures is planing to make the following adjustments to Risk Control Parameters:

Please Note: 

  • After all of the operations are completed, please transfer your assets from your Futures account to your Exchange account in a timely manner. Withdrawal services for Mainland China users will remain active for 1~2 years, after which we will announce official closing times. If you have any questions or concerns, please get in touch with our Customer Service.
  • We highly recommend that users close positions in advance to avoid any risks caused by market fluctuations prior to delivery.
  • Huobi Global will resume derivative trading (including coin-margined futures, coin-margined swaps, and USDT-margined swaps) for users in non-restricted countries/regions after retiring all mainland China users. The specific resumption time will be announced in another notice.

 

Kind Reminder: “Mainland China users” above refer to users who are certified as mainland China citizens on Huobi Global. Huobi Global will evaluate users who have not done ID Verification by their registration nationality. The schedule above is tentative, and we will notify you in advance if there are any changes.

 

Thank you for your support!

 

Huobi Global

October 2, 2021

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