OKX to list bi-monthly 0126 and bi-quarterly 0628 for USDT and crypto-margined BTC futures
Dear OKX users,
To improve market liquidity and offer more trading opportunities, OKX will adjust the expiration date rules for BTC/USDT- and BTC/USD-margined futures contracts. Starting at 8:00 am UTC on November 17, 2023, we are expanding the available durations for BTC/USDT- and BTC/USD-margined futures contracts to the following: weekly, bi-weekly, monthly (new duration), bi-monthly (new duration), quarterly, and bi-quarterly. Currently, we only support the following 4 durations: weekly, bi-weekly, quarterly, and bi-quarterly.
Starting from 8:00 am UTC on November 2, 2023, and lasting until 8:00 am UTC on November 8, 2023, the names of all futures contracts will progressively display their respective expiration dates.
The names of all futures contracts in the API services are exempt from this new display rule. Users should use the 'expTime' field from the instruments endpoint and channel to determine the delivery time of the contract, instead of the 'alias' field. For more details, please visit here.
The adjustment details are as follows:
1. BTC/USDT and BTC/USD futures generation
After futures contracts expire at 8:00 am UTC on November 17, 2023, new futures contracts will be generated with expiration dates of December 1, 2023 (bi-weekly), January 26, 2024 (bi-monthly), and June 28, 2024 (bi-quarterly). Following this adjustment, all the available expiration dates for newly listed contracts will be as follows:
a. Weekly: November 24, 2023
b. Bi-weekly: December 1, 2023
c. Monthly: December 29, 2023
d. Bi-monthly: January 26, 2024
e. Quarterly: March 29, 2024
f. Bi-quarterly: June 28, 2024
2. Futures contract generation rules
| Futures contract types | BTC/USDT, BTC/USD | Non-BTC/USDT, non-BTC/USD |
|---|---|---|
| Available contract durations |
6 durations: Weekly / Bi-weekly Monthly / Bi-monthly Quarterly / Bi-quarterly (March, June, September, and December) |
4 durations: Weekly / Bi-weekly Quarterly / Bi-quarterly (March, June, September, and December) |
| Expiration date and time |
Weekly: every Friday at 8:00 am UTC. Monthly: the last Friday of each month at 8:00 am UTC Quarterly: the last Friday of each calendar quarter at 8:00 am UTC |
Weekly: every Friday at 8:00 am UTC Quarterly: the last Friday of each calendar quarter at 8:00 am UTC |
| Listing time |
New futures contracts will be listed at 8:00 am UTC. Bi-weekly, bi-monthly, and bi-quarterly contracts will be listed. If the expiration dates for new and existing contracts do not coincide: - Bi-weekly: every Friday - Bi-monthly: every third-to-last Friday of the month - Bi-quarterly: every third-to-last Friday of the expiration month (January, April, July, and October) If the expiration dates for new and existing contracts coincide: - New futures contracts will not be listed if their projected expiration dates coincide with those of existing contracts. For example, if there are already monthly contracts expiring on a specific date, a new bi-weekly contract set to expire on the same day will not be listed. |
New futures contracts will be listed at 8:00 am UTC. Bi-weekly and bi-quarterly contracts will be listed. If the expiration dates for new and existing contracts do not coincide: - Bi-weekly: every Friday - Bi-quarterly: every third-to-last Friday of the expiration month (March, June, September, and December) If the expiration dates for new and existing contracts coincide: - New futures contracts will not be listed if their expiration dates overlap with existing ones. For example, if there are already quarterly contracts expiring on a specific date, a new bi-weekly contract set to expire on the same day will not be listed. |
3. Futures contract renaming rules
Futures contracts will be named using the format “crypto pair-DDMMMYY”. For instance, BTCUSD1124 weekly of 2023 will be BTCUSD-24NOV23.
Examples:
| Existing | New | |
|---|---|---|
| Weekly: contracts with an expiration date of November 24, 2023 | BTCUSD1124 weekly | BTCUSD-24NOV23 |
| Bi-weekly: contracts with an expiration date of December 1, 2023 | BTCUSD1201 bi-weekly | BTCUSD-01DEC23 |
| Monthly: contracts with an expiration date of December 29, 2023 | BTCUSD1229 monthly | BTCUSD-29DEC23 |
| Bi-monthly: contracts with an expiration date of January 26, 2024 | BTCUSD0126 bi-monthly | BTCUSD-26JAN24 |
| Quarterly: contracts with an expiration date of March 29, 2024 | BTCUSD0329 quarterly | BTCUSD-29MAR24 |
| Bi-quarterly: contracts with an expiration date of June 28, 2024 | BTCUSD0628 bi-quarterly | BTCUSD-28JUN24 |
For any inquiries, please feel free to contact us via Support Center or Connect with us on any platform of your choice.
OKX team
November 2, 2023