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Adjustment of Futures and Perpetual Swap Price Limit Rules

發佈於 2020年2月12日閱讀時長 2 分鐘

Dear valued customers,

In order to better protect users’ interest and improve risk management control, we will adjust the price limit rules as follows:

1. Futures price limit rules will be adjusted to:

Within 10 minutes after the order is placed:

Max. bid price = Spot index (1 + 5%);

Min. ask price = Spot index (1 – 5%)

After 10 minutes:

Max. bid price = Min [Max (Index, Index*1.03 + price movement average within the last 10 mins), Index*1.25];

Min. ask price = Max [Min (Index, Index*0.97 + price movement average within the last 10 mins), Index*0.75]

2. Perpetual swap price limit rules will be adjusted to:

Within 10 minutes after the order is placed:

Max. bid price = Spot index (1 + 0.5%);

Min. ask price = Spot index (1 – 0.5%)

After 10 minutes:

Max. bid price = Min [Max (Index, Index*1.01 + price movement average within the last 10 mins), Index*1.02];

Min. ask price = Max [Min (Index, Index*0.99 + price movement average within the last 10 mins), Index*0.98]

Note:

  • Index refers to spot price index.
  • Price movement average within the last 10 minutes is calculated as follows:
    • Using the candlestick chart data of the contract and spot index within the last 10 minutes to calculate the (opening price + closing price)/2 of every minute, then calculate the difference between the contract and the index, then take the average value from the difference between the two within the last 10 minutes.
  • The above rules is applicable to all futures and perpetual contracts (including USDT futures and coin-margined futures).
  • Opening long or short contracts are also limited by these rules.
    • For open long or close long orders: If the order price is higher than the max. bid price, price limit will be triggered;
    • For open short and close short orders: If the order price is lower than the min. ask price, price limit will be triggered.

New rules will be implemented by grayscale release, scheduled as follows:

No.

Date

Assets

Grayscale Period

1

Feb 17, 2020

TRX

1 week

2

Feb 24, 2020

XRP

1 week

3

Mar 2, 2020

ETC

2 weeks

4

Mar 16, 2020

BSV & BCH

2 weeks

5

Mar 23, 2020

LTC & EOS

1 week

6

Mar 30, 2020

BTC & ETH

1 week

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

Regards,

OKX

Feb 12, 2020 (UTC)