OKX to delist futures for FILUSD and LINKUSD
Published on Nov 16, 20223 min read
In light of recent market conditions, FILUSD and LINKUSD liquidity has deteriorated. In order to avoid unforeseen market risks and improve the overall user experience, OKX will delist FILUSD and LINKUSD futures contracts (including weekly, bi-weekly, quarterly, bi-quarterly contracts) at 7:00 am UTC and 9:00 am UTC respectively on Nov 22, 2022. Relevant orders on the order book will also be canceled after the delisting.
OKX will deliver FILUSD and LINKUSD futures contracts positions at corresponding contract's arithmetic average last traded price timed at 1 hour prior to the delisting.
If the traded price displays abnormalities in the hour preceding the delisting, OKX may adjust the final delivery price to a reasonable level for delivery.
Considering that the market may fluctuate sharply before the delisting, please manage your risk level by reducing the actual leverage multiples or closing positions in advance.
Within the first 30 minutes after the delisting, if you hold positions greater than 10,000 USD in value in FILUSD and LINKUSD futures contracts at the time of delivery, you will be restricted from transferring assets out of your trading account.
Asset transfers will return to normal after 30 minutes. Order history and billings records will still be available after the delisting. If you need to backup your data, you may download it via Report Center on OKX web.
In order to ensure successful delivery of FILUSD and LINKUSD futures contracts during the delisting, the following adjustments are made to our risk control parameters:
1) Adjustment of price limit rules
How the limit price is calculated:
| Period | Highest Price Limit | Lowest Price Limit |
| Within 10 minutes of contract generation | Index *(1+X) | Index *(1-X) |
| 10 minutes after contract generation | Min[Max(Index, Index *(1+Y)+ Average premium over the 10 ten minutes), Index *(1+Z)] | Max[Min(Index, Index *(1-Y)+ Average premium over the past 10 minutes), Index *(1-Z)] |
Adjusted price limit rules:
| Time | X | Y | Z |
| 48 hours before delivery | 2% | 2% | 5% |
| 30 minutes before delivery | 1% | 1% | 2% |
Note: If there is a deviation from the contract price before then, the price limit will be adjusted according to market conditions.
2) Adjustment of position tiers
| Contract | Tier | Max. amount (Cont) (Before) | Max. amount (Cont) (After) | Maintenance margin ratio | Min. initial margin ratio | Max. leverage | Adjustment Time |
| FILUSD Futures | 1 | 500 | 1 | 1.00% | 1.30% | 75 | 11:00 am UTC on Nov 16 |
| FILUSD Futures | 2 | 1,500 | 3 | 1.50% | 2.00% | 50 | |
| FILUSD Futures | 3 | 5,000 | 5 | 2.00% | 5.00% | 20 | |
| FILUSD Futures | 4 | 10,000 | 7 | 2.50% | 5.50% | 18.18 | |
| FILUSD Futures | 5 | 15,000 | 9 | 3.00% | 6.00% | 16.66 | |
| FILUSD Futures | 6 | Increase by 5,000 conts from the previous tier | Increase by 2,500 conts from the previous tier | Increase by 0.5% from the previous tier | Increase by 0.5% from the previous tier | Max. leverage of the tier | |
| LINKUSD Futures | 1 | 1,000 | 1 | 0.80% | 1.30% | 75 | 7:00 am UTC on Nov 17 |
| LINKUSD Futures | 2 | 3,000 | 3 | 1.00% | 2.00% | 50 | |
| LINKUSD Futures | 3 | 10,000 | 5 | 1.50% | 3.00% | 33.33 | |
| LINKUSD Futures | 4 | 20,000 | 7 | 2.00% | 3.50% | 28.57 | |
| LINKUSD Futures | 5 | 30,000 | 9 | 2.50% | 4.00% | 25 | |
| LINKUSD Futures | 6 | Increase by 10,000 conts from the previous tier | Increase by 5,000 conts from the previous tier | Increase by 0.5% from the previous tier | Increase by 0.5% from the previous tier | Max. leverage of the tier |
Regards,
OKX
Nov 16, 2022 (UTC)