BitMEX Launches Bitcoin / Chinese Yuan Futures Contracts

BitMEX is proud to announce the launch of the Bitcoin / Chinese Yuan (CNY) series futures contracts, symbol: XBC.

The first future launched in the series is XBCZ16.

XBCZ16 Contract Specifications

Contract Value: 10 CNY of Bitcoin

Quote, Margin, and Settlement Currency: Bitcoin

Settlement Index: The BitMEX XBT/CNY Index (.XBTCNY)

Expiry Date: 30 December 2016

Leverage: 100x

The .XBTCNY Index is an equally weighted index comprised of the XBT/CNY prices on, BTCC, and Huobi.

With the addition of XBCZ16, BitMEX allows traders to go long or short the three major Bitcoin currency pairs, CNY, USD, and JPY.

Spread Trading

One of the most watched spreads is the CNY vs. USD Bitcoin premium or discount. This spread is one of the most important Bitcoin trading indicators.

Traders who wish to bet on the expansion or contraction of the China Bitcoin premium can trade XBCZ16 vs. XBTZ16. XBTZ16 is the Bitcoin / USD 30 December 2016 100x leveraged futures contract. Both contracts expire at 12:00 UTC on the settlement date.

Premium Expansion:

Go long XBCZ16 vs. short XBTZ16.

Premium Contraction:

Go short XBCZ16 vs. long XBTZ16.

To learn more about the Bitcoin / CNY series, please read the XBC Series Guide.