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KuCoin Trading System Upgrade Notice

KuCoin Trading System Upgrade Notice

02/29/2020, 10:19:04

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 18:00 on March 1, 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 trading will be influenced and the execution of a single trading pair will be affected for one to two minutes. The contract trading on KuMEX will not be affected during this upgrade.

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

  1. 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 will exceed the threshold (you can request via the API symbol interface).
  2. For limit orders, if the difference exceeds the threshold, the order placement would fail.
  3. For market orders, the order will 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.

The adjustment to Open API is as follows:

  1. For post only orders, it will get executed immediately against the iceberg orders and hidden orders in the market. Users placing the post only order will be charged the maker fees and the iceberg and hidden orders will be charged the taker fees.
  2. For details, please refer to the KuCoin API Document.

Thanks for your support!
The KuCoin Team