Adjustment of Futures and Perpetual Swap Price Limit Rules

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:

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

Regards,

OKEx

Feb 12, 2020 (UTC)