Understanding the Update
A prominent trading platform has announced a significant update to its ETH USD-margined futures contracts. This change is designed to enhance market liquidity and offer traders more flexible opportunities. The adjustment involves expanding the number of available expiration dates for these derivative products.
The key modification is the shift from four expiration cycles—weekly, bi-weekly, quarterly, and bi-quarterly—to a more granular structure. The new framework now includes weekly, bi-weekly, monthly, bi-monthly, quarterly, and bi-quarterly expirations. This provides market participants with a broader range of instruments to hedge risk or speculate on Ethereum's price movements.
The official rollout for this update was scheduled for a specific time in late June 2024. Following the settlement of existing contracts at that time, a new set of contracts with fresh expiration dates was generated and made available for trading.
Detailed Contract Expiration Dates
After the adjustment, the available ETHUSD futures contracts on the platform featured the following expiration dates:
- ETHUSD: June 28, 2024
- ETHUSD: July 5, 2024
- ETHUSD: July 26, 2024
- ETHUSD: August 30, 2024
- ETHUSD: September 27, 2024
- ETHUSD: December 27, 2024
This list illustrates the new mix of weekly, monthly, and quarterly contracts now accessible to users. For a complete overview of all trading instruments and their specifications, you can 👉 explore the trading platform’s contract details.
How New Futures Contracts Are Generated
The process for listing new futures contracts follows a precise set of rules that vary depending on the asset. The platform categorizes its futures contracts into two main groups, each with its own listing schedule.
For Major Assets: BTC and ETH
This group includes BTCUSDT, BTCUSD, and ETHUSD contracts. The platform maintains six active contracts for these major cryptocurrencies at all times.
- Supported Expirations: Weekly, bi-weekly, monthly, bi-monthly, quarterly, and bi-quarterly. Quarterly contracts are based on the standard cycle months of March, June, September, and December.
Expiration Time: All contracts expire at 4:00 PM UTC+8 on a Friday. The specific Friday depends on the contract type:
- Weekly: Every Friday.
- Monthly: The last Friday of the month.
- Quarterly: The last Friday of a quarter's end month (March, June, September, December).
Listing Schedule: New contracts are listed every Friday at 4:00 PM UTC+8. However, only the bi-weekly, bi-monthly, and bi-quarterly contracts are listed at this time.
- A new bi-weekly contract is listed every Friday.
- A new bi-monthly contract is listed on the third-to-last Friday of each month.
- A new bi-quarterly contract is listed on the third-to-last Friday of January, April, July, and October.
- A crucial rule prevents duplication: if a new contract would have the same expiration as an existing one, it is not listed. For example, a bi-weekly contract will not be generated if its expiry matches that of a monthly contract.
For Other Assets
All other futures contracts on the platform follow a slightly simpler structure.
- Supported Expirations: These assets maintain four active contracts: weekly, bi-weekly, quarterly, and bi-quarterly.
- Expiration Time: The expiration schedule is identical to the major assets (Fridays at 4:00 PM UTC+8).
Listing Schedule: New contracts are also listed weekly at 4:00 PM UTC+8, but only bi-weekly and bi-quarterly contracts are generated.
- A new bi-weekly contract is listed every Friday.
- A new bi-quarterly contract is listed on the third-to-last Friday of March, June, September, and December.
- The same duplication rule applies. A bi-weekly contract will not be listed if its expiry matches a quarterly contract's date.
This structured approach ensures a consistent and predictable market for traders, allowing for effective forward planning and strategy development. To 👉 access real-time contract listings and expiry calendars, visiting the official platform is recommended.
Frequently Asked Questions
What is the main benefit of having more expiration dates for futures contracts?
More expiration dates provide greater flexibility for traders. It allows for more precise hedging strategies over different time horizons and creates additional opportunities for speculating on short-term and medium-term price movements, which can enhance overall market liquidity.
How does the platform prevent having two contracts with the same expiration date?
The system has a built-in check. Before generating a new bi-weekly, bi-monthly, or bi-quarterly contract, it verifies that the new expiration date does not conflict with any existing contract's date. If there is a match, the new contract is simply not listed that week.
As a trader, what is the most important thing to remember about this change?
The key takeaway is that there are now more trading instruments available for ETHUSD futures. Specifically, you now have access to monthly and bi-monthly contracts alongside the existing weekly and quarterly ones. Always check the specific expiration date of any contract you trade to manage your risk effectively.
Will this change affect the leverage or margin requirements for ETH futures?
This announcement specifically pertains to the addition of new expiration dates. Changes to contract specifications like leverage tiers or margin requirements are typically communicated in a separate official announcement.
Are these new contracts available for both USD-Margined and USDT-Margined trading?
This update specifically addressed the USD-margined futures contracts. The availability of similar expiration dates for USDT-margined contracts should be confirmed by checking the platform's official contract specifications.
What happens if I have an open position when a contract expires?
Open positions in futures contracts are typically settled automatically upon expiration. The settlement is based on the final mark price at the time of expiry. It is crucial to close or roll over your positions before the contract's expiration to avoid automatic settlement.