It means more liquidity, tighter spreads, and overall less expensive futures for everyone.
That's best achieved by deciding not to charge 6 times Gox's already steep charges.
"Challenge accepted"!
We just introduced a new, very experimental and short (one month) futures contract
BUK3 (BTC/USD-05.13).
Features:
- 10 times lower trading fee! (subject to your usual volume discounts too)
- Expires 25th of May (so it trades roughly one month)
- 0.0001 BTC clearing fee per 1 contract (to fight buy-and-hold-till-expiration strategy). It's taken during each scheduled clearing (twice a day) if you have this futures in your balance tab by the moment clearing happens!
Let's see what this experiment shows. The first trading session has enhanced price limits and increased margin requirements. The first clearing will be free (no clearing fees will be deducted).
P.S. Buying and holding previous contract would cost 0.003+0.003 BTC = 0.006 BTC. Buying and holding BUK3 for 30 days will be 0.0001*62 = 0.0062 BTC, so it's nearly the same for b&h strategy.