SINGAPORE, Nov. 17, 2021 /PRNewswire/ -- Bit.com, a secure, high-performance cryptocurrency exchange powered by Matrixport, has announced the launch of its Unified Margin (UM) account, an upgraded trading and risk management system adopting a single account solution. With a UM account, Bit.com users can optimally trade spot, margin, perpetual, futures, and options using the same account without the need to transfer funds between multiple accounts.
For UM Accounts, the user's assets in different currencies are calculated in USDT value, with predetermined haircut ratios for each currency (BTC, ETH, USDC, etc.). They are used as a margin for placing orders and holding positions for all trading products. This unique feature offers enhancements to the users' trading experience, as well as optimized capital utilization, compared to the classic trading system, including:
Enhanced borrowing: Users can sell a currency or trade derivatives in multiple currencies even when the available balance of the settlement currency is insufficient. In such cases, the system will complete the trade through borrowing as long as the total available balance of USDT is sufficient.
Consolidated positions: The users will be able to consolidate and offset profit and loss across multiple positions against each other. With this model, losses in a particular position will not necessarily trigger forced liquidation, only when the overall account risk reaches critical levels.
John Ge, Chief Executive Officer, Bit.com said, "Given market volatility, managing profits and loss positions with high efficacy is paramount. A Unified Margin account coupled with our Portfolio Margin model, allows our users to benefit from an industry-leading risk management system with optimized capital utilization."
Building on the series of risk management upgrades and enhancements to user experience, including the spot trading system upgrade in July and the launch of "Portfolio Margins" last year, the launch of Unified Margin Account is a testament to Bit.com's commitment to shaping an institutional-grade exchange that enables effortless and high-performing trading experiences. Users can visit the asset page to access "One-Click Migration to migrate to a UM Account".
Bit.com is a secure, high-performance cryptocurrency derivatives exchange offering perpetual swaps, futures, options, and spot trading. Powered by Matrixport, Asia's fastest-growing digital assets financial services platform, bit.com is the second-largest cryptocurrency option marketplace in trading volume and open interest. The exchange provides institutional-grade security and risk management features that ensure a superior trading experience leveraging best-in-class liquidity.