Cryptocurrency exchange HTX (Huobi) has announced that it will delist a series of USDT-margined perpetual futures in accordance with the Huobi Token Management Rules.
The PERP/USDT, API3/USDT, and HT/USDT perpetuals will be removed from the list of available assets on November 12, 2023, at 16:00 (UTC +8).
According to the information published on the HTX website, open positions on these perpetual futures will be closed by taking as the delivery price the arithmetic mean of the respective index prices 60 minutes prior to going offline, with all pending orders being cancelled.
The exchange draws the attention of users to the fact that in the event of abnormal manipulation of the index price within 60 minutes prior to going offline, the platform may adjust the final delivery price to a reasonable level according to the actual situation.
In addition, users are advised to exercise risk control by reducing the current multiple or closing out the perpetual position in advance, as the market may experience sharp fluctuations before the perpetual is delisted.
If a loss occurs when the perpetual is delisted, it will be offset against the risk reserve on a first-come, first-served basis. If the risk reserve is insufficient to cover the loss, it will be allocated from the accounts that have made a profit in the current period, in proportion to the profit of each account.
Once the perpetual is delisted, it will be marked as "Suspended" and will be hidden from Firecoin HTX after 7 days. The corresponding assets of the user's local USDT account will not be affected in any way. Historical fees, transaction records, and financial data records of perpetual futures will still be available for retrieval after the perpetual is suspended, and historical data will be retained for one week.
Records can be backed up in the appropriate section of the trading platform.
See also: Hong Kong's SFC may allow retail investors access to crypto ETFs.
