Binance to Adjust Tick Size for USDⓈ-M Perpetual Futures Contracts
Binance, one of the leading cryptocurrency exchanges, has announced adjustments to the tick size for multiple USDⓈ-M Perpetual Futures Contracts. The changes are set to take effect on July 25, 2024, at 06:30 (UTC), according to Binance.
Purpose of the Adjustment
The primary aim of this adjustment is to increase market liquidity and enhance the overall trading experience for users. Binance has clarified that the tick size change, which represents the minimum change in the unit price, will not impact USDⓈ-M Futures trading operations.
Details of the Adjustment
The adjustment will also affect tick sizes via API. Binance advises API users to utilize the 'GET /fapi/v1/exchangeInfo' endpoint to find the latest tick size of USDⓈ-M Perpetual Futures Contracts. Importantly, the update will not affect existing orders; orders placed before the update will still be matched using the original tick size.
Guidelines for Traders
Traders are encouraged to refer to Binance’s Trading Rules to adjust their trading strategies accordingly. This will help avoid any unnecessary impact on trading activities. Binance also notes potential discrepancies in translated versions of the announcement and advises referring to the original English version for the most accurate information.
Additional Context
This move by Binance follows a series of adjustments and improvements aimed at optimizing trading conditions on its platform. In recent months, the exchange has also introduced new features and tools to assist traders in managing risk and enhancing their trading strategies.
For those trading on-the-go, Binance offers a mobile app for both iOS and Android devices, further enabling users to stay updated with real-time market changes and execute trades efficiently.
Binance reserves the right to amend or cancel this announcement at any time without prior notice. The exchange also emphasizes the inherent risks involved in trading digital assets and advises users to make independent assessments and consult advisors as necessary.