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BingX Help Center Full Compensation Scheme for the Delisting of FTSE100, Dax & Multiple Pairs From Standard Futures on 2023-01-27
Full Compensation Scheme for the Delisting of FTSE100, Dax & Multiple Pairs From Standard Futures on 2023-01-27
BingX
2023-02-06 19:09
Dear BingX Users,
 
On 2023-01-27, due to the abnormality of IG third-party service, BingX delisted FTSE100, Dax, and 5 other trading pairs from Standard Futures to safeguard our investors against any unnecessary risk. Please see below for the details.
  1. When delisting the pairs, the affected positions were handled as follows:
1. BingX suspended trading of the affected pairs on 2023-01-27 07:00 (UTC+8).
2. BingX delisted the affected pairs on 2023-01-27 13:00 (UTC+8).
3. Once delisted, the open positions of the affected pairs were closed automatically and the close price will be determined based on the price when the trading was suspended, which was on 2023-01-27 07:00 (UTC+8).
  1. Compensation Calculation Method
The listing and delisting of trading pairs is a normal procedure that all exchanges will carry out. In this case, we will compensate users for their losses incurred between the trading suspension and delisting period.
Compensation = | unrealized PnL when the positions were closed - unrealized PnL when the trading was suspended |
 
We also noticed that some users had already suffered significant losses prior to the trading suspension, and the delisting resulted in the inability to continue holding their positions and lost potential opportunities to turn losses into profits or reduce losses. In line with our principle of putting users first, the platform has decided to compensate users for all their losses (including losses incurred before the trading suspension) to protect the interests of our affected users. In addition to the previous compensation, the remaining compensation of the affected positions will be issued within 48 hours, which is expected to be completed by 2023-02-09 (UTC+8).
 
Should such unforeseen incidents occur in the future, we will process them accordingly based on the established procedures, which will be released after this announcement. We urge users to abide by the guidelines according to the procedures and the customer agreements.
 
BingX puts user trust and platform transparency as our top priority, and will continue to provide professional services to crypto beginners and professional traders in a safe, innovative, and leading-edge manner.
 
For more information: Compensation Rules for Emergent Trading Pair Delisting
 
BingX Operation Team
2023-02-06
Official Website: https://bingx.com
 
Risk Disclaimer:
Cryptocurrency prices are subject to high market risk and price volatility. You should only invest in products that you are familiar with and where you understand the associated risks. You should carefully consider your investment experience, financial situation, investment objectives and risk tolerance and consult an independent financial adviser prior to making any investment. This material should not be construed as financial advice. Past performance is not a reliable indicator of future performance. The value of your investment can go down as well as up, and you may not get back the amount you invested. You are solely responsible for your investment decisions. BingX is not responsible for any losses you may incur. BingX attaches great importance to compliance and has strictly abided by local regulations. Please obey local laws and regulations in your country or region. BingX reserves the right in its sole discretion to amend, change, or cancel this announcement at any time and for any reason without prior notice.For more information, please refer to our Terms of Use and Risk Warning.
 
 

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