The Buyer Claims Portal has been up to date to supply extra transparency on spinoff 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 spinoff positions.
The valuation of spinoff positions relies on FTX change pricing as of the Petition Date or shutdown time.
These updates don’t influence the general worth of buyer claims however could change the displayed USD stability.
Replace on Buyer Claims Portal
The Buyer Claims Portal has undergone an replace to raised symbolize spinoff positions held by prospects. Beforehand, all open spinoff positions had been included within the USD stability. Nonetheless, in response to buyer requests for extra transparency, an amended buyer claims schedule was filed on June 27, 2023. This modification breaks out open spinoff positions as of the Petition Date (November 11, 2022) into separate line objects, exhibiting portions of contracts held by spinoff ticker.
Valuation of By-product Positions
The valuation of spinoff positions relies on FTX change pricing as of the Petition Date or shutdown time. For FTX.COM and FTX.US prospects, the related date and time are November 11, 2022, at 15:00:00 UTC. For FTX EU prospects, it is November 12, 2022, at 03:28:48 UTC. The ultimate USD equal valuation can be decided at a later date.
Influence on USD Stability
The total market value of any open spinoff place as of the Petition Date is netted from the USD stability so it may be proven individually by itself line merchandise. Which means that your USD stability could seem completely different, nevertheless it doesn’t influence the general worth of your declare. To revert to the USD quantity you’re accustomed to seeing, you may 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 Detrimental
It is value noting that your USD stability could seem damaging because of the new methodology. For example, in case your USD stability was $5,000 versus $20,000 in spinoff positions, your USD stability within the amended schedules would present as damaging $5,000. Nonetheless, this doesn’t symbolize the ultimate worth of your declare.
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