Dear OKX Users,
To enhance market liquidity and expand trading opportunities, OKX will implement adjustments to BTC USDT-margined and USD-margined futures contracts effective November 17, 2023, 4:00 PM (UTC+8). The update expands expiration dates from four tiers (weekly, bi-weekly, quarterly, and next-quarter) to six tiers (weekly, bi-weekly, monthly, next-month, quarterly, and next-quarter).
Concurrently, all existing futures contracts will be renamed to reflect expiration dates, effective November 2, 2023, 4:00 PM (UTC+8).
Key Adjustments
1. BTCUSDT and BTCUSD Contract Generation
Post-settlement on November 17, 2023, new contracts will be generated with the following expirations:
- Weekly: November 24, 2023
- Bi-weekly: December 1, 2023
- Monthly: December 29, 2023
- Next-month: January 26, 2024
- Quarterly: March 29, 2024
- Next-quarter: June 28, 2024
2. Contract Generation Rules
| Feature | BTCUSDT/BTCUSD Contracts | Non-BTC Contracts |
|---|---|---|
| Supported Expirations | 6 active contracts: Weekly, Bi-weekly, Monthly, Next-month, Quarterly, Next-quarter | 4 active contracts: Weekly, Bi-weekly, Quarterly, Next-quarter |
| Settlement Times | Weekly: Fridays 4:00 PM (UTC+8) Monthly: Last Friday of month Quarterly: Last Friday of March/June/September/December | Weekly: Fridays 4:00 PM (UTC+8) Quarterly: Last Friday of quarter |
| Listing Schedule | New contracts list Fridays 4:00 PM (UTC+8) when expirations differ from existing contracts | Same as BTC contracts, excluding monthly tiers |
3. Contract Renaming Convention
Futures contracts will adopt a [Symbol]-[DDMMMYY] format. Examples:
| Contract Type | Old Name | New Name |
|---|---|---|
| Weekly (Nov 24, 2023) | BTCUSD-W1124 | BTCUSD-24NOV23 |
| Bi-weekly (Dec 1, 2023) | BTCUSD-B1201 | BTCUSD-01DEC23 |
| Monthly (Dec 29, 2023) | BTCUSD-M1229 | BTCUSD-29DEC23 |
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FAQ Section
Q: Will API endpoints change?
A: No. Use the expTime field via product interfaces to identify settlement dates.
Q: When do new monthly contracts list?
A: On the third-last Friday of each month at 4:00 PM (UTC+8).
Q: How does OKX prevent duplicate expirations?
A: If a bi-weekly contract shares an expiration with a monthly/quarterly contract, only the latter is listed.
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OKX remains committed to delivering exceptional products and services.
— OKX Team
November 2, 2023
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