Launch of Futures Contract Daily Settlement and Adjustments of Perpetual Swap Settlement and Funding Time
Dear valued customers,
In order to optimize our users' trading experience on the platform, we will implement the following upgrades and adjustments within the next few weeks:
- Launching futures contract daily settlement
- Adjusting perpetual swap settlement and funding time
- Adjusting perpetual swap settlement schedule
Details as follows:
A. Launch of Futures Contract Daily Settlement
The settlement time of futures contracts will be changed from 10:00 every Friday (CEST, UTC+2) to 10:00 every day (CEST). The settlement time of weekly contracts on every Friday will not be affected.
The release (migration) schedule is as follows:
- TRX: Aug 22, 2019
- BSV, ETC: Aug 26, 2019
- XRP, BCH, LTC: Aug 28, 2019
- EOS, ETH, BTC: Aug 30, 2019
B. Adjustments of Perpetual Swap Settlement and Funding Time
The settlement and funding time of perpetual swap will be changed from 22:00, 6:00, and 14:00 daily (CEST, UTC+2) to 02:00, 10:00, and 18:00 daily (CEST, UTC+2), effective for all contacts from Aug 28, 2019. I.e. after the settlement at 14:00 Aug 27, 2019 (CEST), the next settlement and funding will take place at 02:00 Aug 28, 2019 (CEST). The estimated funding rate for that funding period will be calculated based on the 12-hour period from 14:00 Aug 27, 2019 to 02:00 Aug 28, 2019 (CEST).
C.Adjustment of Perpetual Swap Funding Schedule
The settlement frequency of perpetual swap will be changed from 3 times/day to 1 time/day, while the frequency of funding will remain unchanged as 3 times/day.
Details as follows:
- Funding takes place at 02:00,10:00, and 18:00 every day (CEST). The funding fee will be deducted from a user’s realized profit and loss.
- Settlement takes place only once at 10:00 every day (CEST) (currently 02:00,10:00, and 18:00 (CEST) every day). Both the unrealized and realized profit and loss within the settlement period will be transferred to account balance.
The release (migration) schedule is as follows:
- TRX: Sep 2, 2019
- BSV, ETC: Sep 3, 2019
- XRP, BCH, LTC: Sep 5, 2019
- EOS, ETH, BTC: Sep 6, 2019
In case of unexpected market volatility or any other force majeure clauses, we may adjust the above implement schedules as appropriate and notify in further announcements as soon as possible.
Thank you for your continued support and we assure you our best services at all times.
Regards,
OKX
Aug 21, 2019