OKX to Adjust Minimum Order Quantities for Futures Contracts

Upcoming
Adjustments
to
Minimum
Order
Quantities

Cryptocurrency
exchange
OKX
will
implement
changes
to
the
minimum
order
quantities
for
several
perpetual
and
expiry
futures
contracts,
according
to
a
recent
announcement
on
their
official
website.
The
adjustments
are
scheduled
to
take
effect
between
6:00
am
and
8:00
am
UTC
on
June
6,
2024.
The
update
also
includes
corresponding
modifications
to
step
size.

Details
of
the
Adjustments

The
following
changes
will
be
made:

Understanding
Step
Size
and
Minimum
Order
Quantity

Step
size
refers
to
the
smallest
possible
increment
or
decrement
in
the
number
of
contracts
placed
for
perpetual
and
expiry
futures.
For
example,
in
the
ETHUSDT
perpetual
futures
with
a
contract
size
of
0.1
ETH,
the
updated
step
size
will
be
set
at
0.1
contracts,
meaning
the
minimum
fluctuation
in
the
contracts
ordered
is
0.1
contracts
(equivalent
to
0.01
ETH).

Minimum
order
quantity
is
the
smallest
number
of
contracts
permissible
for
an
order
in
perpetual
and
expiry
futures.
It
must
be
an
integer
multiple
of
the
step
size.
For
instance,
in
the
ETHUSDT
perpetual
futures
with
a
contract
size
of
0.1
ETH
and
a
step
size
of
0.1
contracts,
the
minimum
order
quantity
is
set
at
1
contract
(0.1
ETH).

Display
Rules
for
Open
Positions
and
Orders

With
the
new
step
size
adjustments,
if
the
step
size
is
less
than
1,
both
position
contract
sizes
and
order
quantities
will
be
displayed
in
decimals.
This
applies
to
unfulfilled,
partially
filled,
completely
filled,
and
open
orders,
as
well
as
the
sizes
of
open
positions.
For
example,
in
SHIBUSDT
perpetual
futures
with
a
contract
size
of
1,000,000
SHIB,
the
order
quantity
will
be
displayed
as
10.5
contracts
(10,500,000
SHIB)
if
the
step
size
is
adjusted
to
0.1
contracts.

Order
Processing
Rules

For
new
orders,
traders
must
ensure
that
the
quantity
placed
or
modified
is
an
integral
multiple
of
the
step
size
and
at
least
equal
to
the
minimum
order
quantity.
For
instance,
when
the
step
size
for
SHIBUSDT
perpetual
contracts
is
adjusted
to
0.1
contracts,
any
order
placed
or
modified
must
be
in
integral
multiples
of
0.1
contracts
(100,000
SHIB).

API
Interface
Adjustment
Rules

Post-adjustment,
the
API
endpoint
(/api/v5/public/instruments)
and
the
WebSocket
channel
(Instruments)
will
reflect
the
updated
values
for
step
size
(lotSz)
and
minimum
order
quantity
(minSz).
More
details
about
these
changes
can
be
found
on
the

OKX
documentation
page.

OKX
emphasizes
the
importance
of
understanding
these
changes
for
all
traders,
including
API
users,
bot
traders,
and
copy
traders,
as
these
adjustments
aim
to
enhance
the
trading
experience
and
efficiency
on
their
platform.

Image
source:
Shutterstock

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