BitMEX Completes Early Settlement of Derivatives Contracts Amid Exchange Closure Plan

BitMEX has completed an early settlement of 35 derivatives contracts as part of its phased service shutdown ahead of a planned exchange closure in September.

The move, which was first announced on July 22, saw 33 contracts settled in a batch at 12:00:05 p.m. UTC on July 30, with the EUR/USD and USD/CHF contracts settled later that day.

BitMEX emphasized that this was an operational procedure due to low trading volumes and its plan to close the exchange, rather than a forced liquidation.

The company also stressed that no separate settlement fee would be charged for the early settlement process, with profit and loss for each contract reflected in users' Bitcoin (BTC) or Tether (USDT) balances.