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Key Takeaways
The Buyer Claims Portal has been up to date to offer extra transparency on by-product positions.
The preliminary and amended buyer claims schedules filed on March 15, 2023, and June 27, 2023, respectively, differ in how they deal with open by-product positions.
The valuation of by-product positions is predicated on FTX trade pricing as of the Petition Date or shutdown time.
These updates don’t impression the general worth of buyer claims however might change the displayed USD steadiness.
Replace on Buyer Claims Portal
The Buyer Claims Portal has undergone an replace to higher signify by-product positions held by clients. Beforehand, all open by-product positions have been included within the USD steadiness. Nevertheless, in response to buyer requests for extra transparency, an amended buyer claims schedule was filed on June 27, 2023. This modification breaks out open by-product positions as of the Petition Date (November 11, 2022) into separate line gadgets, exhibiting portions of contracts held by by-product ticker.
Valuation of Spinoff Positions
The valuation of by-product positions is predicated on FTX trade pricing as of the Petition Date or shutdown time. For FTX.COM and FTX.US clients, the related date and time are November 11, 2022, at 15:00:00 UTC. For FTX EU clients, it is November 12, 2022, at 03:28:48 UTC. The ultimate USD equal valuation can be decided at a later date.
Impression on USD Steadiness
The complete market worth of any open by-product place as of the Petition Date is netted from the USD steadiness so it may be proven individually by itself line merchandise. Because of this your USD steadiness might seem totally different, but it surely doesn’t impression the general worth of your declare. To revert to the USD quantity you’re accustomed to seeing, you’ll be able to worth all of your scheduled derivatives as of the Petition Date or shutdown time and add it to the USD ticker.
Why Some USD Balances Might Seem Destructive
It is value noting that your USD steadiness might seem destructive because of the new methodology. For example, in case your USD steadiness was $5,000 versus $20,000 in by-product positions, your USD steadiness within the amended schedules would present as destructive $5,000. Nevertheless, this doesn’t signify the ultimate worth of your declare.
Picture supply: Shutterstock
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