Crypto derivatives exchange Bybit has just announced it is adding some new products and features to its platform to celebrate its third anniversary.
The exchange, which was founded back in December 2018 and has welcomed over 1 million users since it was established, has just announced several new additions: it is adding quarterly futures contracts and sub-accounts as well as integrating with foreign exchange trading platform MetaTrader 4 (MT4).
The exchange 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."
With the addition of this new BTCUSD quarterly futures contracts, traders will be able to buy or sell the underlying asset at a predetermined price at a specific date in the future.
At launch, on November 30, the platform will offer two contracts: BTCUSD1225, which will settle on December 25, 2020, and BTCUSD0326, which will settle on March 26, 2021.
However, these are not the only contracts Bybit plans to launch. Three other contracts, BTCUSD0625, BTCUSD0924 and BTCUSD1224, will list on December 11, 2020, March 12, 2021, and June 11, 2021, and settle on June 25, September 24 and December 24, 2021, respectively.
It must be noted these quarterly futures contracts do not require any funding fee, meaning that 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).
Quarterly futures have a risk limit base value of 150 BTCs, 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. They represent different traders or trading strategies, allowing this way for a more cohesive trading experience and nuanced approach.
The platform is also integrating MetaTrader 4, a white-label trading platform widely used by forex traders that offers advanced technical analysis, a flexible trading system and algorithmic trading tools.