Effective Friday 28 August 2015 at 12:00:01 GMT, XBT (Speculation), XBU (Hedging), and BVOL (Volatility) contracts will expire based on the TradeBlock XBX Bitcoin/USD Index. All contracts expiring on 28 August 2015 will expire as per normal on the Bitfinex Bitcoin/USD price.
The TradeBlock XBX Index represents a real-time, USD-equivalent spot rate for Bitcoin. The underlying algorithm is uniquely designed to provide a reliable reference rate by tracking the Coinbase, Bitfinex, itBit, OKCoin, and Bitstamp exchange rates, and to reduce the impact of anomalies at individual exchanges.
The risk of manipulation, exchange outages, and bad API data are compounded when only using one Bitcoin reference exchange. We believe that TradeBlock has created an excellent and robust index on which BitMEX can build industry leading derivative products.
There will be no changes to the API endpoints. All BitMEX indices will accept prices from XBX Index instead of Bitfinex. Weightings of each exchange will be published.
If you have any questions about the switch to the XBX index, please don’t hesitate to contact us.