To enhance platform performance and improve your trading experience, we recently completed a significant upgrade to our futures trading system. This technical overhaul was designed to increase stability, improve API efficiency, and deliver a smoother overall trading environment. The process involved a scheduled maintenance period, during which futures services were temporarily unavailable.
Following this infrastructure improvement, we are also pleased to announce a reduction in trading fees for both futures and token trading. These adjustments are intended to lower costs for our users and increase market liquidity.
Overview of the System Upgrade
The scheduled maintenance was conducted to perform essential updates to the futures trading database. These upgrades are part of a broader series of improvements aimed at optimizing system performance.
Upgrade Timeline and Status Updates
The upgrade process was initially planned for one timeframe but was adjusted due to market conditions. We provided users with multiple announcements to ensure transparency throughout the process.
- Initial Announcement: The upgrade was first announced to begin at 20:00 HKT on September 5, 2018, with an estimated duration of 30 to 60 minutes.
- Postponement Notice: Due to market volatility, the upgrade was postponed to 21:30 HKT on the same day to minimize user impact.
- Commencement Notice: The upgrade officially began at 21:41 HKT.
- Completion Notice: The upgrade was successfully completed at 22:05 HKT, and all futures trading services were fully restored.
Services Affected During Maintenance
During the maintenance window, all futures trading operations were temporarily suspended. This included:
- Placing new orders
- Adding margin to existing positions
- Accessing futures trading via the website and API
It is standard procedure to make necessary preparations, such as adjusting margins or closing positions, before a scheduled downtime to mitigate any risk from market movements. Other platform services, including C2C and token trading, continued to operate normally without interruption.
New Lower Fee Structure
With the completion of the initial technical upgrades, we are reducing fees to make trading more cost-effective for our users. The new fee schedule is designed to lower the barrier to entry and encourage greater market participation. For a detailed breakdown of the new maker and taker fees, you can explore the updated fee schedule here.
The revised fee schedule was implemented on September 7, 2018, at 00:00 HKT. This adjustment applies to both futures and token trading on the platform.
Benefits of the Upgrade and Fee Changes
This series of upgrades represents a commitment to providing a superior trading environment. The key benefits include:
- Enhanced System Performance: Improved stability and faster execution times.
- Higher API Efficiency: More reliable and responsive data feeds and order placement for automated trading systems.
- Reduced Trading Costs: Lower fees help traders keep more of their profits.
- Increased Market Liquidity: Lower costs attract more participants, leading to healthier markets with better price discovery.
These improvements are part of a multi-phase plan to continuously advance our trading infrastructure.
Frequently Asked Questions
Q: Was my funds' security affected during the upgrade?
A: No. All user funds remained secure throughout the entire maintenance period. The upgrade only affected the functionality of trading operations, not the custody of assets.
Q: Why were futures trading services temporarily unavailable?
A: The temporary outage was necessary to perform a critical database upgrade. This planned downtime ensures that the system update is applied correctly and securely, leading to a more stable platform.
Q: How can I find the exact details of the new fee rates?
A: The complete and detailed fee schedule is available on our official website. The updates include specific maker and taker rates for different products and trading volumes. You can view the complete fee details here.
Q: Will there be more upgrades in the future?
A: Yes. This was the first in a planned series of four major upgrades aimed at continually improving system performance, security, and the overall user experience.
Q: What should I do if I experience issues after an upgrade?
A: If you encounter any problems, please reach out to our customer support team directly through the platform’s help center for immediate assistance.
Q: Do the new fees apply to all types of trades?
A: The revised fee schedule applies to both futures and token spot trading, encompassing most trading activities on the platform.