The highlights are:
- Margin Netting Introduced
- US Traders BANNED due to regulatory issues
- Engine updates for faster order Matching
- Free insured blockchain settlement with Elliptic
- Analytics and TradingView integration
See screenshots of the newsletter below and full text form:
We now support margin netting across Forward maturities. If you set up a long position in one Forward maturity and a short position in another, only the position with the larger margin requirement will be counted.
Example: You buy 5 Forwards in the June 16 maturity and sell 5 Forwards in the September 16 maturity. The Initial Margin requirement is 5 x 0.20 = 1.00 bitcoins for your long position and 5 x 0.14 = 0.71 bitcoins for your short position. Your total margin requirement, however, is only: max( 1.00, 0.71 ) = 1.00.
Why is this useful? Margin netting allows you to efficiently exploit price differences across Forward maturities without putting up too much margin. For instance, if you think that the price of Forward A is too high compared to Forward B, you can put on a short position in A and a long position in B and wait for the price difference to converge.
We have stopped servicing U.S. Residents for the time being due to the regulatory uncertainty around our products in this jurisdiction. We apologize if you are affected by this and hope to see you again in the future.
And, in case your have not seen it yet ...
We have made a couple of changes and improvements to our platform over the past couple of months:
* You can now see historical charts of the Forward contracts in Trading View, accessible on the Trading Page. Trading View is a powerful charting tool and allows you to add indicators, overlay different contract maturities and much more.
* On the Account Page under "Summary", you can now see various Trigger Estimates. These represent our estimate of the bitcoin price level that will trigger your margin requirements. For instance, the Trigger Estimate shown next to "Liquidation Threshold" is the approximate bitcoin price that will trigger a liquidation of your current position. Note that the triggers are just estimates and can change at any time.
* On the same page in the "P&L From Open Positions" section, you now also find the Forward Mark Prices to which we mark your open positions to estimate your running profit and loss. This does not effect your actual profit or loss once you close a position and is shown only for informational purposes.
* We have implemented two additional order types: Stop Orders and Market orders. Plus we have improved the handling of the Trading Page to allow for faster order entry via keyboard and mouse.
* Our storage solution with Elliptic is now free of charge. Elliptic will store your bitcoins on our behalf on their offline, Fortune 100 insured servers and you can verify your portfolio value on the blockchain every day. If you have not done so, you can activate insured storage on the Account Page under "Settings" -> "Settlement".
* We have added an Analytics Page where you can track the computation of our real time index CF-BPI and our once-a-day reference rate CF-HBPI. The latter is used in settlement, and you can verify the settlement price by clicking on the dots in the chart to download full tick data calculation detail.
* The Analytics Page also contains charts of absolute and relative Forward premia over all contract maturities.
* Finally, we have done a lot of work on our matching engine, and orders are now matched 10x to 100x faster than before.
We hope you enjoy these improvements, and as always, please do not hesitate to get in touch through firstname.lastname@example.org if you have any comments or suggestions.
Your Crypto Facilities Team