Introduction
OKX will settle the MAJORUSDT pre-delivery futures contract on November 28, 2024 (23:00 UTC+8). This guide explains all critical rules and risk management measures for traders.
Contract Settlement Details
1. Settlement Price Mechanism
Index Price Calculation:
- Derived from ≥3 major exchanges' spot trading pairs
- Weighted average determines the benchmark
Final Settlement Price:
- 1-hour arithmetic mean of OKX Index before settlement
- Platform reserves right to adjust for market manipulation
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Post-Settlement Account Restrictions
| Account Status | Threshold | Duration |
|---|---|---|
| Asset Transfer Frozen | Positions > $10,000 | 30 minutes |
Note: Historical orders remain accessible via web portal's "Order Center."
Risk Management Protocols
Key Protective Measures
Leverage Reduction:
- Recommended before settlement period
Automatic Deleveraging:
- Sequence: Risk Reserve → High-profit traders first
Price Volatility:
- 15% price band (normal trading)
- Tightens to 5% band (last 60 minutes)
Trading Parameters
Price Limit Rules
Pre-Settlement Period:
- Buy order cap: 1H mid-price × 115%
- Sell order floor: 1H mid-price × 85%
Final Hour:
- Buy order cap: 1H mid-price × 105%
- Sell order floor: 1H mid-price × 95%
(Mid-price = (best bid + best ask)/2, recalculated minute)
Fees & Additional Information
- Settlement fee: 1% (subject to change)
- Downloadable records: Available post-settlement
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FAQs
Q: When exactly does settlement occur?
A: 23:00 UTC+8 on November 28, 2024.
Q: How long do transfer restrictions last?
A: 30 minutes for accounts meeting the $10K threshold.
Q: What happens during extreme volatility?
A: The exchange may adjust final settlement prices to maintain fairness.
Q: Where can I access my trade history?
A: Through OKX web platform's "Order Center."
Risk Disclosure
Cryptocurrencies involve high market risk and price volatility. Investors should:
- Conduct thorough research
- Assess personal risk tolerance
- Make informed decisions
OKX remains committed to providing exceptional trading products and services.