1.Rfinex cryptocurrencies options rules
2.Rfinex cryptocurrencies options product release rules
Rfinex is a third-party platform for trading digital currency options. The Rfinex exchange does not trade options.
The Rfinex exchange provides standardized options contracts and cryptocurrencies options issuance standards.
Here is an example of a "BTC-3M-C-3600" option template
Contract type：European Call Option
Unit of Valuation：USDT
Minimum price unit：0.0001USDT
Contract rate：1000:1， each option contract represents the purchase right of 0.001 BTC
Delivery Methods：Cash Settlement,delivery price differential delivery
Date of Listing：2019-02-27 16:00
Maturity Date：2019-03-24 15:00
Time limit for transaction：From 2019-2-27 16:00 to 2019-3-24 15:00
Date of execution：Within 2-3 working days after the expiration date of the option, In-the-Money option shall be exercised automatically and liquidated. The Out-of-the-money option is automatically voided
The way to confirm the performance price：The average price of the platform confirmation transaction price of BTC/USDT on the last hour of the final trading day
Performance price recognition platform：Binance.con, Huobi.pro
Weight ratio of performance price：50% : 50%
3.Issuance, redemption and trading rules of Rfinex cryptocurrencies options.
Any user can issue and redeem options through the Rfinex exchange, or buy and sell options on the Rfinex exchange.
When issuing the option, the user shall pledge 100% of the full security at the exercise price, issue the call option to be paid by BTC, and issue the put option to be paid by USDT.
After the option issued by the user is confirmed to be "sold", the option party will enter the trading market for pending orders.
Users can buy options on the trading floor, and after buying options, they can also hang up an order and sell options.
The issuer of the option may call the unvested option.
Rfinex exchange support 7*24 hours full time trading, allows users to T+0 transaction.
4.Trading fee rate of Rfinex cryptocurrencies options
The Rfinex exchange charges a 0.2 per cent trading fee each to the Maker and Taker.
Rfinex is free of charge on the issuance fee for option issuers.
5.Settlement rules for cryptocurrencies options
Cryptocurrencie options traded by Rfinex use favorable automatic exercise strategy on the expiration date, that is, if the option brings the buyer gains on the expiration date, the system will exercise the option automatically; if it brings losses, the option will be cancelled, and the settlement days will be 2-3 working days.
Option expiration date: 15:00 on the last Wednesday of the expiration month
Take "BTC-3M-C-3800" option as an example: if the market price of BTC is 4000 within one hour before the exercise time of the last Wednesday in March on the expiration date, and the system judges that it is a favorable option at this time, the option will be exercised automatically, and this option will bring the buyer the income of 4000-3800=200 USDT directly into the account.