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YIBI

2022-11-5

Index price of U-denominated contracts

The U-Benchmark Index prices are referenced to a basket of major spot markets. The reference markets include: Binance, Huobi, Okex, Bittrex, HitBTC, Gate.io, Bitmax, Poloniex, FTX, MXC.

Please note that YIBI will adjust the components of the index price in case of unusual price fluctuations and extreme market conditions.
We also take some additional protective measures to avoid poor market performance due to disruptions in spot market prices or due to connectivity issues. These protections are as follows.
1. Single price source deviation: When the latest price of an exchange deviates from the median price of all price sources by more than 5%, the price weight of that exchange will be set to zero.
2、Multiple price source deviation: If more than 1 exchange's latest price deviates by more than 5%, the median price of all price sources will replace its weighted average and be used as the index price value.
3、Exchange connection problem: If we do not have access to the exchange data source and this exchange has updated the transaction data in the last 10 seconds, we can get the price data from the latest result and use it for the index price calculation.
4、If an exchange does not update the transaction data within 10 seconds, the weight of this exchange will be zero when calculating the weighted average.
5、Latest transaction price protection: When the "index price" and "marker price" aggregation system is unable to obtain a stable and reliable source of reference data, for contracts with a single index price component, the index will be affected (the index price will not change), we will We will update the marker price using the latest transaction price protection mechanism until it returns to normal. Last traded price protection is a method of temporarily switching the contract price marker, using the latest traded price of the contract itself plus a certain limit as the marker price so that the aggregation system has a way to calculate the unrealized profit and loss, and the strong line, etc., while trying to avoid causing unnecessary strong events at this time.

The index price can be considered as a fair spot price and is used to calculate the marker price (which is used to further calculate the unrealized profit/loss of each contract). Please note that the actual profit/loss of the account is based on the market price at which the position was closed.