Changes in Perpetual Swap Settlement Time and Price Limit

Published on Dec 14, 20182 min read

Dear valued customers,

OKX's perpetual swap trading will be opened at 05:00 Dec 17, 2018 (CET, UTC +1). After reviewing the experience in the simulation trading competition, we decided to make the following changes on the settlement time and price limit in order to better protect the interest of our traders:

Settlement Time:

The settlement time will be changed from 10:00 (CET, UTC +1, the same below) daily to 03:00 and 15:00 daily. The time for funding, societal loss execution, and insurance fund injection will also be changed to 03:00 and 15:00 daily.

Price Limit

（a）In first 10 minutes of newly listed Perpetual Swap contract:

Upper limit = spot index price (1 + 0.5%)

Lower limit = spot index price (1 - 0.5%)

（b）After 10 minutes:

Upper limit = Avg. premium within last 10min + spot index price (1 + 1%)

Lower limit = Avg. premium within last 10min + spot index price (1 - 1%)

Premium = Contract price – spot index price

If the premium calculated deviates from the spot index price by 2% or is below 0:

Upper limit = spot index price (1 + 2%)

Lower limit = spot index price (1 - 2%)

Thank you for your continued support and we assure you of our best services at all times.

Regards,

OKX

Dec 14, 2018

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