November 26th, 2020 at 12:00 pm UTC · 3 min read
Cryptocurrency derivatives exchange Bybit has announced a raft of new products and features as its online trading platform enters the third year. The fast-growing trading platform, which has welcomed more than one million registered users since its December 2018 launch, will add quarterly futures contracts and sub-accounts, while integrating with foreign exchange trading platform MetaTrader 4 (MT4).
Co-Founder and CEO Ben Zhou said:
“At Bybit, we are continually looking at ways we can improve the services we offer. As we embark on our third year, the introduction of these new products and features really strengthens our value proposition, and takes crypto derivatives trading to the next level.”
The newly introduced BTCUSD quarterly futures contracts allow traders to buy or sell the underlying asset at a predetermined price at a specific date in the future. Two contracts will be offered at launch on Nov. 30 — BTCUSD1225, settling on Dec. 25, 2020, and BTCUSD0326, settling on March 26, 2021. Three further contracts — BTCUSD0625, BTCUSD0924, and BTCUSD1224 — will list on Dec. 11, 2020, March 12, 2021, and June 11, 2021, and settle on June 25, Sept. 24, and Dec. 24, 2021, respectively.
The quarterly futures contracts do not require funding fee. Traders can hold their positions free of charge for as long as the contracts are still in effect. Bybit draws capital from the insurance fund built by BTCUSD perpetual contracts to cover users’ negative equity on quarterly futures contracts, thus removing the need for auto-deleveraging (ADL). Traders can utilize one-way or hedge mode, with locked positions immune to liquidation. Quoted in USD but settled in BTC, quarterly futures have a risk limit base value of 150 BTC, a maximum order size of 1,000,000, and available leverage of up to 100x.
Bybit has also announced sub-accounts for its retail and institutional clients. Although linked to a primary account, sub-accounts represent different traders or trading strategies, allowing for a more cohesive trading experience and nuanced approach. Institutional investment firms may utilize sub-accounts to provide individuals under their employ with controlled access and limited control to the main account.
MetaTrader 4 is a white-label trading platform, widely used by forex traders, that offers advanced technical analysis, a flexible trading system, and algorithmic trading tools. In integrating with MT4, Bybit aims to provide users with a richer end-to-end experience, and allow forex traders to foray into crypto and diversify their portfolio with ease.
Bybit is a cryptocurrency trading platform established in March 2018. The company provides online trading services to international individual retail clients as well as professional traders.
For updates, follow Bybit’s social platforms on Twitter and Telegram.