Cybercrime tends to peak over the holidays, and this year with bitcoin reaching an all time high, users should be extra vigilant.

We highly recommend you enable 2FA before you switch off for the year. For further background, see our blog from June 2019: https://blog.bitmex.com/important-security-advisory-update-june-2019/

If you need assistance with setting up 2FA on your BitMEX account, please contact Support: www.bitmex.com/support

BitMEX Indices Updated – Q1 2021

BitMEX updated its indices across all products today, 25 December 2020 at 12:00:05 UTC.

The affected indices include:
.BXBT, .BETH, .BXRP, .BBCH. .BLTC, .BUSDT;
.BETHXBT, .BXRPXBT, .BBCHXBT, .BLTCXBT, .BEOSXBT, .BADAXBT, .BTRXXBT;
.BADAT, .BBNBT, .BDOTT, .BEOST, .BLINKT, .BXTZT, and .BYFIT

Please see our blog post: https://blog.bitmex.com/q1-2021-index-weights/ and BitMEX Indices: https://www.bitmex.com/app/indices page for index weights and further details.

Incident title: [Testnet] Trading Engine
Incident time: January 05, 2021 - 10:30 UTC
Incident status: Investigating
Details: We have identified an issue with our [Testnet] Trading Engine server, and are working to restore full service as soon as possible. As we are resolving this issue the [Testnet] Trading Engine will be temporarily unavailable.

We apologise for any inconvenience this may be causing.

We are looking into the cause of this issue, and will be sharing an update as soon as possible. If you have any further questions, please contact Support.

Testnet - Trading Engine - Under Maintenance

Incident title: [Testnet] Trading Engine
Incident time: January 05, 2021 - 11:19 UTC
Incident status: Identified
Details: UPDATE: We’re bringing the [Testnet] Trading Engine back online, initially via cancel-only mode until 11:25 UTC, where no new orders can be placed.

Testnet - Trading Engine - Under Maintenance

Incident title: [Testnet] Trading Engine
Incident time: January 05, 2021 - 11:35 UTC
Incident status: Resolved
Details: The [Testnet] Trading Engine is now back online. We apologise for any inconvenience. If you have any further questions, please contact Support.

Testnet - Trading Engine - Operational

With our User Verification Programme complete, we’re starting the year with a fully verified active user base - and there’s a lot to look forward to in 2021. Stay tuned. https://blog.bitmex.com/bitmex-starts-2021-with-a-fully-verified-active-user-base-user-verification-programme-complete/

Updates to BitMEX .BXRP Index

On 15 January 2021 at 04:00:05 UTC, BitMEX will update its .BXRP Index.

We are enabling our Hybrid Composite Index functionality for .BXRP. For some constituents, this index will source XRP/USDT prices (converted to XRP/USD prices using the .BUSDT index) to be used alongside the other USD-based constituents.

Please note that the hypothetical values of the indices with new weights are published as the “NEXT” index family (e.g. .BXBT_NEXT).

Please see our blog: https://blog.bitmex.com/update-to-bxrp-index-weights/ and BitMEX Indices page: https://www.bitmex.com/app/indices for index weights and further details.

Should you have any further questions, please contact Support: www.bitmex.com/support

The BitMEX platform had zero overloads during the surge in trading throughout yesterday as XBTUSD hit an all time high of US$40,567.

See our blog for more on our platform performance during the recent volatile market movements: https://blog.bitmex.com/bitmex-platform-marks-xbt-at-all-time-high-with-exceptional-platform-performance-no-overloads/

BitMEX .BXRP Index Updated

BitMEX updated its .BXRP today, 15 January 2021 at 04:00:05 UTC.

Please see our blog post: https://blog.bitmex.com/update-to-bxrp-index-weights/ and BitMEX Indices: https://www.bitmex.com/app/indices page for index weights and further details.

100x Group Joins Global Digital Finance Patron Board

We’re pleased to announce that we are now a patron board member of Global Digital Finance (GDF), the leading industry body championing the adoption of digital finance.

Under this partnership we’ll promote collaboration within the industry and advocate for a more inclusive, empowering, and better regulated digital financial system.

Full announcement here: https://blog.bitmex.com/100x-group-joins-global-digital-finance-patron-board/

We believe that Bitcoin, and crypto in general, is not something that should be reserved for insiders. Bitcoin is open source, accessible, and controlled by no one.

That’s why we’re pleased to join others in hosting the Bitcoin White Paper on our website: https://blog.bitmex.com/bitcoin-white-paper/

We prioritise user protection by continuously enhancing the way we maintain fair and orderly markets.

At the end of 2020, we made some important updates - the introduction of the Hybrid Composite Index and parameter changes to our existing controls - to help reduce unnecessary Mark Price swings. These changes have allowed us to more closely track the ‘true market price’ of the underlying instruments.

In this blog, we take a look at how these improvements have been protecting our users and ensuring a better trading experience. Read more here: https://blog.bitmex.com/fair-and-orderly-markets-how-weve-changed-our-fair-price-parameters-to-enhance-user-protection/

The future of digital finance depends on positive collaboration between regulators and industry, our COO Vivien Khoo writes in this piece for Global Digital Finance’s Annual Report: http://ow.ly/PMES50Djids

BitMEX Research takes a microscope to lesser examined topics that have the potential to shape future conversations and debates in the crypto world.

Little analysis has been done to evaluate fee maximisation in Bitcoin mining, so BitMEX Research decided to take a deep dive in this piece, uncovering a brewing debate about transaction censorship in mining pools: http://ow.ly/NvE050DjwJc

We believe in the inclusivity of markets, crypto or otherwise. Markets should be fair and transparent, and traders - mindful of risks and heeding regulation - deserve the same opportunities across the board.

Our pledge is to always strive to run our platform in an inclusive, fair, and transparent manner, without prejudice to any group of users over another. Being part of the crypto ecosystem demands that of us, and our users expect no less.

Read more from our Commercial Director Ben Radclyffe here: http://ow.ly/3UeM50DlyF4

As the BitMEX platform grows, so does our team. We are pleased to announce the appointment of Mr. Wai Kin (WK) Chim as an Independent Non-Executive Board Director of 100x. WK and recently appointed Chief Executive Officer, Alexander Höptner, join the board of directors as of today, 1 February 2021.

WK brings more than 30 years of international banking, corporate governance, risk management, and compliance experience to the Group, having held senior positions in Standard Chartered Bank, Bank of China, and Deutsche Bank.

We are excited to welcome WK to the team as we continue to enhance the BitMEX platform and work with the industry to advance the adoption of digital finance: http://ow.ly/eZjZ50DnwrK

Introducing the Fat Finger Protection Trading Rule

We think that our responsibility to provide a fair and orderly trading environment should be inclusive of user protections for so-called ‘fat finger’ input errors. Though rare, these types of mistakes have the potential to create sudden drastic price movements that disadvantage other users.

With this in mind, we will be introducing the Fat Finger Protection Trading Rule on 16 February 2021 at 08:00 UTC.

By guarding against input errors, the rule not only protects the trader placing the order but also other users from sudden price shocks.

The rule applies to both Market and Limit orders.

More details in our blog: http://ow.ly/4NiK50DoCSn

Every DOGE has its Day: Introducing the new DOGEUSDT Quanto Perpetual Contract

In retrospect, it was inevitable. As the surge in interest in Dogecoin continues, we are launching a DOGEUSDT perpetual swap contract with up to 20x leverage this Friday.

The BitMEX platform offers top-tier liquidity, security, and platform performance to traders. Recent enhancements to our platform rules will result in an even better DOGEUSDT trading experience.

Like other quanto contracts, the DOGEUSDT product will have a fixed Bitcoin multiplier regardless of the Tether/Dogecoin price. This allows traders to long or short the DOGE/USDT exchange rate without ever touching either DOGE or USDT. Traders post margin in XBT, and earn or lose XBT as the DOGE/USDT rate changes.

The contract will be visible on the platform from 4 February 2021 at 04:00 UTC as Unlisted, 24 hours before trading starts at 04:00 UTC on 5 February.

Please see our blog for more information: http://ow.ly/Af3w50DpLCg

REMINDER: We are launching the DOGEUSDT quanto perpetual swap contract with up to 20x leverage tomorrow, 5 February 2021 at 04:00 UTC. The contract became visible on the platform from 4 February 2021 at 04:00 UTC as Unlisted.

DOGEUSDT quanto swaps have a fixed Bitcoin multiplier regardless of the Tether/Dogecoin price. This allows traders to long or short the DOGE/USDT exchange rate without ever touching either DOGE or USDT. Traders post margin in XBT, and earn or lose XBT as the DOGE/USDT rate changes. This quanto property may be one of the factors which results in the DOGEUSDT swap trading at a premium / discount to the DOGEUSDT spot price – see our blog post explaining the same property for ETHUSD from 2018 here: https://blog.bitmex.com/is-the-ethusd-swap-fairly-priced/

Please see our blog published at the time of the DOGEUSDT product announcement for more information: http://ow.ly/Af3w50DpLCg

New DOGEUSDT Quanto Perpetual Swap Now Live

As of today, our latest product - the DOGEUSDT perp - is now live.

Trading started at 04:00 UTC here: http://ow.ly/Q6Y150DrVJa
The full specs are on our website: http://ow.ly/RPrW50DrVJW

Happy Trading!