Binance, one of the world’s leading cryptocurrency exchanges, has announced an upcoming adjustment to the tick size of SOL USDⓈ-M and COIN-M futures contracts. This change, aimed at increasing market liquidity and improving the user trading experience, will take effect on October 14, 2024, at 06:30 (UTC), according to Binance.

Key Details of the Adjustment

The tick size, which is the minimum change in the unit price, will be modified for both SOL USDⓈ-M and COIN-M futures contracts. Binance has clarified that this adjustment will not impact the trading operations of USDⓈ-M and COIN-M futures. Furthermore, API users will also see changes in tick size via the API endpoints. API users are advised to use the endpoints GET /fapi/v1/exchangeInfo and /dapi/v1/exchangeInfo to obtain the latest tick size information.

Impact on Existing Orders

Binance has assured users that the tick size update will not affect existing orders. Orders placed before the update will still be matched using the original tick size. This measure ensures that traders’ existing strategies and positions remain unaffected by the upcoming changes.

Guidance for Traders

Traders are advised to refer to Binance’s Trading Rules to understand the detailed implications of the tick size adjustment and to adjust their trading strategies accordingly. Binance emphasizes that there may be discrepancies in translated versions of the announcement, and users should refer to the original English version for the most accurate information.

Binance continues to adapt its platform to meet the evolving needs of its users, aiming to enhance liquidity and trading efficiency. This latest update is part of Binance’s ongoing efforts to provide a superior trading experience for its global user base.

Image source: Shutterstock