Dear OKEx users,
To provide a better trading experience and improve user fund utilization, OKEx will soon launch real-time settlement for all perpetual swaps, futures, and options contracts. The real-time settlement of BTCUSD and ETHUSD perpetual swaps, futures, and options will officially start at 8:00 am UTC on Jan. 18, 2021.
As part of this product upgrade, users’ realized profits and losses will be immediately carried over to the account balance. Users can then withdraw their profits at any time, without needing to wait for settlement at a fixed time.
Users will be able to experience the real-time settlement of BTCUSD and ETHUSD perpetual swaps, futures, and options through our API, site, or web app. Outlined below are changes that will be applied to the real-time settlement contract page on the site and web 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.
Furthermore, if a user holds a BTCUSD or ETHUSD perpetual swap, futures, or options contract at 8:00 am UTC on Jan. 18, 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 BTCUSD and ETHUSD perpetual swap, futures, and options 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.
In regards to the API, for derivatives transactions with real-time settlement function, the return value for the following position information interfaces and account information interfaces is "0":
1) Position information interface：
| Contract Type | Information |
| Futures | long_settlement_price、realised_pnl、short_settlement_price、short_unrealised_pnl、short_settled_pnl、long_unrealised_pnl、long_settled_pnl |
| Perpetual Swaps | settlement_price、realized_pnl、settled_pnl |
| Options | 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 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 user 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.
OKEx will continue to provide you with better products and better services.
Regards,
OKEx
Jan 15, 2021 (UTC)
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