Launch of real-time settlement functionality for LTCUSD, ETCUSD and other coin-margined perpetual swaps and futures
Dear OKX users,
To provide a better trading experience and improve the utilization of users' funds, OKX will soon launch real-time settlement functionality for all perpetuals, futures and options contracts. The real-time settlement of LTCUSD, ETCUSD and other coin-margined perpetual swaps and futures will officially start at 8:00–9:00 am UTC on Jan. 14, 2021 as per the details below:
|
Contract Type |
Currency |
|
Coin-margined Perpetual Swap and Future |
LTC, ETC, XRP, BCH, BSV, TRX, LINK |
To effectively improving fund utilization, users’ realized profits and losses will be immediately carried over to the account balance in this launch. Users can then withdraw their profits at any time, without waiting for settlement at a fixed time every day.
Users can experience the real-time settlement function of LTCUSD, ETCUSD and other supported coin-margined perpetual swaps and futures through API, web or app interfaces. Outlined below are changes that will be seen on the real-time settlement contract page on the website and app:
1. Asset: The "Realized P&L" information will no longer be displayed, and the realized profit and loss generated by a transaction after the real-time settlement is still calculated in the account equity
2. Position: "Settlement price", "Settled earnings" and "Unrealized P&L" information will no longer be displayed. The profit shown against the position after the real-time settlement is the unrealized profit and loss from the opening of the position to the current time
3. Settlement records: New settlement records will not be generated after real-time settlement is implemented but historical records will be supported
Moreover, if a user holds an LTCUSD, ETCUSD or another supported coin-margined perpetual swap and futures contract at 8:00 am UTC on Jan. 14, 2021, the average open price of the position will be changed to the settlement base price of the last settlement of those contracts. All realized profits and losses will also be transferred to the LTCUSD, ETCUSD and other supported coin-margined perpetual swaps and futures account balances. After these changes are completed, the profit and loss shown on the position will be cleared, and the profit will be recalculated according to the new opening average price from 8:00 am UTC on the same day.
On the API side, for derivatives transactions with real-time settlement function, the return value of the following fields of position information interfaces and account information interfaces is "0":
1. Position information interface：
|
Contract Type |
Information |
|
Future |
long_settlement_price、realised_pnl、short_settlement_price、short_unrealised_pnl、short_settled_pnl、long_unrealised_pnl、long_settled_pnl |
|
Perpetual Swap |
settlement_price、realized_pnl、settled_pnl |
|
Option |
settlement_price、realized_pnl、unrealized_pnl |
2. Account information interface：
|
Contract Type |
Information |
|
Future |
realized_pnl |
|
Perpetual Swap |
realized_pnl |
|
Option |
realized_pnl |
For more details, please refer to the API document .
Real-time settlement functionality for other currencies and business lines will be gradually launched in the future and updates for the same will be provided separately. During the real-time settlement operation process, if the market — due to extreme market conditions or abnormal user manipulation — reflects accumulation of large liquidation orders and abnormal rapid consumption of risk reserves, the intelligent risk control engine may temporarily close some or all users fund transfer functions of the corresponding contract accounts until the market returns to normal. Under extreme market conditions, the real-time settlement function of some contracts may also be turned off.
OKX will continue to provide you with better products and better services.
Regards,
OKX
Jan 13, 2021 (UTC)
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