Post
Topic
Board Project Development
Re: ICBIT Derivatives Market (USD/BTC futures trading) - LIVE
by
boomerlu
on 22/07/2013, 16:46:42 UTC
When are we getting a VWAP (or some other mechanism) to set the clearing price? While I'm not personally very concerned as far as my own trading, a better mechanism would add to the legitimacy of the exchange. This is in response to akwfleaspirit, who, while certainly misinformed about a lot, is right that it's way too easy to manipulate the clearing price.

A "clearing cross" like NYSE's open/close crosses might help, and as a bonus you can put in margin called positions so they have access to the hopefully greater liquidity. It's also an established point in time to do lots of liquidity - if you can get traders to gather at these times, you may see more trading overall. A good cross can also simplify trading for those who don't want to babysit their limit orders.

I was under the impression that BTCUSD futures were already cleared with mtgox vwap.
They are settled at Highest Volume Exchange VWAP at expiry, but clear mark-to-market twice a day at the last sale.

Edit: Used to say "Gox VWAP at expiry", this could change going forward.