We will be implementing some changes to margin trading services on bitFlyer Lightning.The changes are as follows.
■Scheduled date of the change
Tuesday, August 31, 2021 at 5:00 PM (JST)
■Services to be changing
Lightning FX, Lightning Futures
* This does not apply to Lightning Spot.
■ Planned changes
1. Change in conditions for applying Margin Call Rules
Before the change
If the maintenance margin rate falls below 100%, Margin Call Rules will apply.
After the change
If the maintenance margin rate falls below 100% at 6:00 PM (JST) every business day (including weekends and holidays), Margin Call Rules will apply.
2. Changes to the conditions for applying Sell Out Rules and the conditions for eliminating additional margins
Before the change
If the maintenance margin rate is still below 100% at 5:00 PM (JST) 2 bank business days after it fell below the prescribed level, Sell Out Rules will apply.
After the change
If the margin call has not been cleared by 5:00 PM (JST) on the next business day (including weekends and holidays) after the margin call is triggered, Sell Out Rules will apply. The methods of clearing the margin call are as follows.
(1) Depositing Japanese yen or bitcoin into your margin account
(2) Partial or total settlement of your positions
(3) Increasing the leverage rate*
*If the leverage rate is set lower than the maximum value, it can be raised to clear the margin call. It will not be raised if you have selected the maximum leverage rate.As an example, if margin call rules are applied with leverage 1x and the maintenance margin is subsequently 55%, the maintenance margin will become 110% when leverage is doubled 2x, and the margin call will be canceled. However, be aware that if the market price continues to fluctuate by 5% or more, the maintenance margin will again be less than 100%, and margin maintenance rules may be applied at the time of the next judgment.
Please note that even if the customer's maintenance margin rate exceeds 100% by methods other than listed above (market fluctuation, etc.), after the margin call is triggered, the margin call will not be cleared.
The rules for margin trading (Maintenance Margin Rules, Margin Call Rules, and Sell Out Rules) after the change are as follows.
①Maintenance Margin Rules(This is a renaming of an existing rule.)
If the Maintenance Margin falls below 100%, the Maintenance Margin Rules will apply.
All outstanding new orders will be revoked (cancelled) (“New orders” shall mean the orders which increase the customer's position.)
When the maintenance margin rate is below 100%, transferring out your margin deposit from your margin accounts (Japanese yen and Bitcoin) to spot accounts, or placing new orders will be suspended.
There may be delays in the Maintenance Margin Rules being applied. The Company will not be held liable for any losses incurred as a result of such delays.
② Margin Call Rules
- If the maintenance margin rate is below 100% at 6:00 PM every business day (including weekends and holidays), Margin Call Rule will apply and a margin call will occur.
- All outstanding new orders will be revoked (cancelled).
- If the margin call has not been resolved by 4:59 PM (JST) on the next business day (including weekends and holidays) after the margin call is triggered, Sell Out Rules will apply at 5:00 PM (JST). The methods of resolving the margin call are as follows.
・Deposit Japanese yen or Bitcoin into your margin account
・Partial or complete settlement of your positions
・Increase the leverage rate*
*If the leverage rate is set lower than the maximum value, it can be raised to clear the margin call. It will not be raised if you have selected the maximum leverage rate.As an example, if margin call rules are applied with leverage 1x and the maintenance margin is subsequently 55%, the maintenance margin will become 110% when leverage is doubled 2x, and the margin call will be canceled. However, be aware that if the market price continues to fluctuate by 5% or more, the maintenance margin will again be less than 100%, and margin maintenance rules may be applied at the time of the next judgment.
Please note that even if the maintenance margin rate exceeds 100% by methods other than listed above (market fluctuation, etc.), after the margin call is triggered, the margin call will not be cleared.
If the market has changed abruptly, the Sell Out Rules is applied before the Margin Call Rules are applied.
It may take time for the amount of the Margin Call to be reflected on the trade screen even after all or part of the Margin Call clears. If the amount is not reflected, wait for a moment and try again.
There may be delays in the Margin Call rules being applied. The Company will not be held liable for any losses incurred as a result of such delays.
③ Sell Out Rules
If the maintenance margin rate falls below 50%, or based on the Margin Call Rules, if the margin call has not been resolved by 4:59 PM (JST) of the next business day (including weekends and holidays) after the margin call is triggered, the Sell Out Rules will apply at 5:00 PM (JST).
We will close all of your positions on Lightning FX/Futures (Sell Out order). Sell Out orders involve market orders on all positions for settlement purposes.
Trade may not be resumed until settlement orders on all positions are finalized.
There may be delays in the Sell Out Rules being applied. The Company will not be held liable for any losses incurred as a result of such delays.
For more information on the current Margin Call Rules, Sell Out Rules, and others, please see below.
Click here for Lightning FX.
Click here for Lightning Futures.