Crypto 30 Discontinued

🤝 Help
1

In my CFD account, I have 4 open positions on the Crypto 30 (B30, BITA 30 Crypto) index. Three of my positions are up and one of them is down, resulting in me being slightly up overall. The current price s $2,674.40, but the index was around $2,820 about a week ago.

At 16:01 yesterday, I received this notification:

BITA Instruments - Discontinued
As of tomorrow, Crypto 30 will be placed in close only mode. On Friday 19.06.2020 after 18:00 GMT+1, all remaining open positions will be closed at the last available trading price. Until then, open positions can be closed but new ones cannot be opened.

I have the following questions about this:

  • Why is this index being discontinued?
  • Why are you giving me such short notice and forcing me to close my position before the index returns to its highs of last week?
  • Thankfully, I’m slightly up at the moment, but what would’ve happened if I’d been down? Would that just have been too bad?
  • Will this index be replaced with another crypto index?
1 Like
2

Maybe not enough interest in it or a lot of longs open with no sells @David @Team212 hopefully can shed some light on it

3

@Team212, my 4 open positions will be closed today at 18:00. I’ve been holding off on manually closing my positions in the hope that the price would return to recent highs, but it’s gone the other way; I’m now down on 3 of my 4 positions.

Could somebody please answer the questions in my original post?

Is it definitely legal for Trading 212 to force me into taking losses on these 3 positions at such short notice?

4

Definitely legal.

https://www.trading212.com/en/AVUSUK/risk-disclosure-notice

1 Like
5

OK. But is it moral? :grinning:

6

@Supraman

  1. Because we won’t be able to offer any BITA instruments.
  2. We’re very sorry about that but we just won’t be able to provide quotes after today.
  3. Yes, we would’ve closed the positions at the last available price either way.
  4. For the time being - no.
1 Like
7

Thanks @David.

What happened with BITA?