Gemini Trust Co., the U.S.-based digital-currency exchange founded by entrepreneurs Cameron and Tyler Winklevoss, is introducing a daily bitcoin auction to facilitate price discovery and larger trades at lower costs.
The auctions, to be held at 4 p.m. New York time every day including holidays and weekends, at first will support just bitcoin-to-U.S. dollar trading, and will eventually expand to more currencies. Auction trades will be eligible for as much as a 0.15 percent rebate on trading fees, Gemini said.
http://www.bloomberg.com/news/articles/2016-09-21/bitcoin-to-get-first-ever-daily-auctions-on-winklevoss-s-gemini
