But the price can change by 20% in one day. Hell, in one hour. Or minute even. So what's the deal here? They haven't done their research, or they are trying to force bitcoin to conform to their fiat norms, or what?
yeah, they have no idea what they're dealing with. They are being pressured by their clients that want exposure to the price, but they can't cover losing bets when the price moves further than their margin limits can cover.
I'm sure there is enough demand from the customers to continue futures trading, but they will need to re-think their approach: just imagine - they broke their limit in about 4.5 hours... just imagine what might happen when they close shop for the weekend?
It is said they are going to use arbitrage. They will buy and sell from a real exchange and send it to futures.