OKX to adjust tick size and trading amount precision of spots/margins and perpetual swaps

In order to increase market liquidity and improve your trading experience, OKX will adjust the tick sizes and trading amount precision of certain spots/margins and perpetual swaps at 6:00 am – 8:00 am (UTC) on June 30, 2023.

Specific adjustment details are as follows:
Note: If the trading pair is available for spot and margin markets, the adjustment will apply to both.

1. Trading amount precision:
a. Trading will be temporarily suspended for 2 minutes for the trading pair adjusted to a smaller decimal value

2. Tick size:

Risk warning
During the tick size and trading amount precision adjustment period, trading will be temporarily suspended for 2 minutes for the trading pair adjusted to a smaller decimal value, you will not be able to transfer funds, place orders, amend orders, and cancel orders for the affected trading pair. Other trading pairs will not be affected. Trading for the trading pair adjusted to a larger decimal value will not be affected.

A. How orders and positions are handled regarding trading amount precision adjustment
1) For existing orders

1. If the trading amount precision is adjusted to a smaller decimal value (0.0001 to 0.01)
   a. Limit orders: If your existing order has a larger decimal place than the adjusted trading amount precision, your existing order will be canceled. If your existing order has a smaller or equal decimal place than the adjusted trading amount precision, your existing order will not be canceled. For example, if trading amount precision is adjusted from 0.0001 to 0.01, Existing Order 8.0001 will be canceled and Existing Order 8.01 will not be canceled.
   b. Trading bots: If your existing order has a larger decimal place than the adjusted trading amount precision, your existing order will be canceled. If your existing order has a smaller or equal decimal place than the adjusted trading amount precision, your existing order will not be canceled. For example, if the trading amount precision is adjusted from 0.0001 to 0.01, limit order 8.0001 will be canceled and limit order 8.01 will not be canceled.

   • For grid and DCA bots, any open orders you already placed with a trading bot will be canceled first (including spot grid, futures grid, moon grid, spot DCA), then the bots will be stopped.
   • For all other bots and order types (including recurring buy, TWAP, iceberg, smart portfolio, arbitrage, stop, trailing stop, trigger), your open orders will be canceled first, but the bots will not be affected. Your bots will resume trading with the new trading amount precision after trading resumes.

2. If the trading amount precision is adjusted to a larger decimal value (0.01 to 0.0001)
   a. After the adjustment, existing orders, will be filled according to the adjusted trading amount precision.

Note: The above rules are also applicable to orders placed using API.

After the trading amount precision is adjusted (for example, from 0.0001 to 0.01), if you place an order with the previous trading amount precision (0.0001) via API, the system will automatically round down buy orders and round up sell orders so that the order can be successfully placed. However, you will not be able to place orders using the pre-adjusted trading amount precision on the normal web and mobile interface.

2) Open orders and the display of historical orders

1. If the trading amount precision is adjusted to smaller decimal places (0.0001 to 0.01): For non-API users, open orders and historical orders will be displayed with the adjusted trading amount precision For API users, open orders and historical orders will be displayed as the pre-adjustment trading amount precision.
2. If the trading amount precision is adjusted to larger decimal places (0.01 to 0.0001): Open orders and historical orders will be displayed with the original trading amount precision.

B. How orders and position are handled regarding the tick size adjustment
1) For existing orders

1. If the tick size is adjusted to a smaller decimal value (0.0001 to 0.01)
   a. Limit orders: If your existing order has a larger decimal place than the adjusted tick size, your existing order will be canceled. If your existing order has a smaller or equal decimal place than the adjusted tick size, your existing order will not be canceled. For example, if tick size is adjusted from 0.0001 to 0.01, Existing Order 130.2442 will be canceled and Existing Order 130.24 will not be canceled.
   b. Trading bots: If your existing order has a larger decimal place than the adjusted tick size, your existing order will be canceled. If your existing order has a smaller or equal decimal place than the adjusted tick size, your existing order will not be canceled. For example, if the tick size is adjusted from 0.0001 to 0.01, limit order 130.2442 will be canceled and limit order 130.24 will not be canceled.

   • For grid and DCA bots, any open orders you already placed with a trading bot will be canceled first (including spot grid, futures grid, moon grid, spot DCA), then the bots will be stopped.
   • For all other bots and order types (including recurring buy, TWAP, iceberg, smart portfolio, arbitrage, stop, trailing stop, trigger), your open orders will be canceled first, but the bots will not be affected. Your bots will resume trading with the new tick size after trading resumes.

2. If the tick size is adjusted to a larger decimal value (0.01 to 0.0001)
   a. After the adjustment, existing orders, will be filled according to the adjusted tick size.

Note: The above rules are also applicable to orders placed using API.

After the tick size is adjusted (for example, from 0.0001 to 0.01), if you place an order with the previous tick size (0.0001) via API, the system will automatically round down buy orders and round up sell orders so that the order can be successfully placed. However, you will not be able to place orders using the pre-adjusted tick size on the normal web and mobile interface.

2) Open orders and the display of historical orders

1. If the tick size is adjusted to smaller decimal places (0.0001 to 0.01): For non-API users, open orders and historical orders will be displayed with the adjusted tick size by rounding down the buy orders and rounding up the sell orders. For API users, open orders and historical orders will be displayed as the pre-adjustment tick size.
2. If the tick size is adjusted to larger decimal places (0.01 to 0.0001): Open orders and historical orders will be displayed with the original tick size.

You are encouraged to adjust your trading strategies based on the above changes.

Risk warning: The foregoing overview and information, some of which may be provided by third parties and not OKX, are for informational and educational purposes only. OKX does not guarantee the accuracy or completeness of any information contained herein and such information does not constitute any representation, warranty nor any financial, investment or other form of advice by OKX. Such information may not be suitable for all persons; it should not be relied upon in connection with a particular investor's trading; and, is not intended to be, nor should be construed as, an offer, recommendation or solicitation. Such information is also not intended for persons who reside in jurisdictions where providing such information would violate the laws or regulations of such jurisdiction. Digital assets are highly speculative and subject to high volatility, may become iliquid at any time, and that investors may lose the entire value of their investment. Before trading any digital asset, you should do your own research and evaluate your risk appetite. OKX is not responsible for any losses which you may incur from trading digital assets. Please refer to Terms of Service and Risk & Compliance Disclosure for more information.

For any inquiries regarding this adjustment, please feel free to contact us via the OKX Telegram group or the Support Center.

OKX
June 26, 2023