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KuCoin Trading System Upgrade Notice

KuCoin Trading System Upgrade Notice

03/08/2020, 03:41:37

Dear KuCoin Users,

To avoid abnormal fluctuations in the market and capital losses caused by large order placement by mistakes, KuCoin will be performing a trading system upgrade at 17:00 on March 10, 2020 (UTC+8). The upgrade process is expected to last around 30 minutes.

During the upgrade period, the order placement and cancellation of the spot, margin and contract trading will not be influenced.

1. The Immediate Or Cancel (IOC) strategy will be deployed in this upgrade to the Spot trading system, the details are as follows:

  • If there are contra orders against the market/limit orders placed by users in the order book, the system will detect whether the difference between the corresponding market price and the ask/bid price would exceed the threshold (you can request via the API symbol interface).
  • If the difference exceed the threshold, your order will not be cancelled, but the system will prompt a notice to inform you that your order might not be completely filled.
  • In this case, the order would be partially executed against the existing orders in the market within the threshold and the remaining unfilled part of the order will be canceled immediately.

For example: If the threshold is 10%, when a user places a market order to buy 10,000 USDT in the KCS/USDT market (at this time, the current ask price is 1.20000), the system would determine that the final execution price would be 1.40000. As for (1.40000-1.20000)/1.20000=16.7%>10%, the threshold price would be 1.30000. Therefore, this market order will execute with the existing orders offering prices up to 1.30000 and the remaining part of the order will be canceled immediately.

Notice: There might be some deviations of the detection. If your order is not fully filled, it may probably be led by the unfilled part of the order exceeding the threshold.

2. The price protection strategy will be deployed in this upgrade for margin trade, the details are as follows:

  • If there are contra orders against the market/limit orders placed by users in the order book, the system will judge whether the difference between the corresponding market price and the ask/bid price would lead to a worse execution than the bankruptcy price ( that is, the corresponding transaction price that would lead your account reach a negative balance).
  • If the difference exceed the threshold, your order will be partially executed against the existing orders in the market of which the prices are underbelow the bankruptcy price.

Thanks for your support!

The KuCoin Team