Overview of the Update
We are updating the futures leverage settings in the fixed-margin mode. This adjustment aims to streamline position management and enhance your trading experience. The changes will affect how multiple leverage positions are handled for the same contract.
These modifications apply to all trading platforms, including the web interface, desktop client, and mobile application. API users should also take note of specific changes to ensure seamless integration. The update is designed to provide greater clarity and reduce potential conflicts when managing open positions.
Key Changes to Leverage Rules
Previous Leverage Structure
Under the old system, users could hold multiple leverage positions for the same contract simultaneously. Specifically, it was possible to maintain up to four distinct positions: a long position with 10x leverage, a long position with 20x leverage, a short position with 10x leverage, and a short position with 20x leverage. This flexibility allowed for complex strategies but also introduced certain operational complexities.
New Leverage Structure
With the updated settings, users are now limited to holding only one leverage level per side (long or short) for the same contract. This means you can have either a 10x or a 20x long position, and similarly, either a 10x or a 20x short position. Consequently, the maximum number of positions per contract is reduced to two.
For example, if you already have an open 10x short position, you can still open a 10x or 20x long position. However, you cannot open an additional 20x short position if a 10x short is already active. This change simplifies position management and reduces margin calculation errors.
Implementation Details
The new leverage rules apply only to the creation of new open orders. Existing positions and orders are not automatically adjusted. If you currently hold both 10x and 20x positions for the same contract and side, you may encounter restrictions when attempting to place new open orders.
It is highly recommended to consolidate your positions to a single leverage level before the update takes effect. This proactive measure will help avoid unnecessary complications. Close orders are not affected by this change, allowing you to manage existing positions without interruption.
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Important Notes for API Users
Default Leverage Behavior
Previously, if an API order submission did not specify a leverage value, the system would default to 10x. This behavior has been updated to align with the user’s preset leverage preferences. Now, when the leverage field is left empty, the system will automatically apply the leverage setting configured in your account.
This change ensures consistency across different trading interfaces and reduces the risk of unintended leverage exposure. API users should review their code to confirm that leverage values are explicitly stated or that the default behavior aligns with their trading strategy.
Effective Date and Compliance
The adjustments will take effect at the specified time. All users are encouraged to review their active positions and adjust their strategies accordingly. Staying informed about such updates is crucial for maintaining optimal trading performance.
Frequently Asked Questions
What is the main change in the leverage settings?
The update restricts users to holding only one leverage level per side (long or short) for a single contract. Previously, you could hold both 10x and 20x positions simultaneously for the same side.
How does this affect my existing positions?
Existing positions are not automatically closed or adjusted. However, if you hold multiple leverage levels for the same contract and side, you may be unable to place new open orders until you consolidate.
Can I still use both 10x and 20x leverage in the same contract?
Yes, but only for opposite sides. For example, you can have a 10x short and a 20x long position, but not both a 10x and 20x short position simultaneously.
What should I do to prepare for this change?
Review your current positions and consider closing any duplicate leverage positions for the same side. This will ensure uninterrupted ability to place new orders.
Are close orders affected by this update?
No, the changes only apply to new open orders. You can still close existing positions without any restrictions.
How does the default leverage setting work for API orders now?
If the leverage value is not specified in an API order, the system will use your account’s preset leverage setting instead of defaulting to 10x.