> Important News/Notices of Futures and Options
Date: 2018-01-24 16:39

Clients can trade Bitcoin Futures Products in CME and CBOE through “Haitong International Futures Limited” from 24 January 2018 onwards

Clients can now trade Bitcoin Futures through “Haitong International Futures Limited” (HTIFL) from 24 January 2018 onwards, products summary as follow:
ExchangeCMECBOE
Contract Unit5 bitcoin, as defined by the CME CF Bitcoin Reference Rate (BRR)The contract multiplier for the XBT futures contract is 1 bitcoin
Price QuotationUSD / BTCUSD / XBT
ContractsMonthly contracts listed for the nearest 2 months in the March quarterly cycle (Mar, Jun, Sep, Dec) plus the nearest 2 serial months not in the March quarterly cycle.The Exchange may list for trading up to four near-term expiration weeks ("weekly" contracts), three near-term serial months ("serial" contracts), and three months on the March quarterly cycle ("quarterly" contracts).
HK TRADING HOURS (WINTER)(Mon - Fri) 07:00 am - 06:00 am (Next day)(Mon) 07:00 am - 05:15 am (Next day)
(Tue - Fri) 05:30 am - 05:15 am (Next day)*

*Trading hours (Winter) 05:30 am to 07:00 am - Trading through hotline only. Online trading service will be suspended.
HK TRADING HOURS (SUMMER)(Mon - Fri) 06:00 am - 05:00 am (Next day)(Mon) 06:00 am - 04:15 am (Next day)
(Tue - Fri) 04:30 am - 04:15 am (Next day)*

*Trading hours (Summer) 04:30 am - 06:00 am - Trading through hotline only. Online trading service will be suspended.
Product DetailsPlease refer to Exchange websitePlease refer to Exchange website
CommissionUSD 50 per contract per sideUSD 50 per contract per side
Initial Margin Requirement150% of the contract value (both long and short)

e.g. : Prior Settle Price of BTC = USD 14,000,
Initial margin requirement
= USD 14,000 x 5 x 150% = USD 105,000
When margin coverage falls below 100%, the account is subject to margin call.		150% of the contract value (both long and short)

e.g. : Prior Settle Price of XBT = USD 14,000,
Initial margin requirement
= USD 14,000 x 1 x 150% = USD 21,000
When margin coverage falls below 100%, the account is subject to margin call.

Important points to note for trading Bitcoin Futures Contracts and Cryptocurrency-Related Investment Products:
1. Client should open and maintain a separate account or sub-account (as the case may be) for purpose of conducting transaction in relation to Bitcoin Futures and cryptocurrency-related investment products and agree to be bound by the Futures Account Terms and Conditions. Please contact your account executives / branch for details.
2. Client should carefully read and fully understand the product features including the features of underlying assets and agree to accept the risk associated in trading of the products associated/linked with bitcoins or other cryptocurrencies.
3. Client should understand and agree to accept that the margin requirement of Bitcoins Futures maybe relatively higher than other futures contracts and can be several times of the contract size / amount of the product, and may be changed from time to time at the discretion of HTIFL without prior notice
4. Client should understand that the electronic services involve no solicitation of the sale or recommendation of, or advice on, any product from HTIFL. All transactions that client enter into through the electronic services are conducted on an execution-only basis and based on client’s own judgment. HTIFL does not have any duty to assess or ensure suitability of the products or the transactions that client enter into.
5. Execution through the electronic services does not allow HTIFL to confirm the validity of any prior recommendation, solicitation or suitability assessment HTIFL may have made to or for the client in the past through any channel in relation to any product is valid only as at the time it was made, and HTIFL cannot ensure the on-going suitability of such product. If the circumstances of the client, such product or its issuer or market conditions change, the product may no longer be suitable for the client.

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