Binance Futures, a leading cryptocurrency derivatives exchange, announced plans to delist and update leverage and margin tiers for a large number of USDⓈ-M perpetual contracts, signaling strategic adjustments to its trading offerings.
Binance Futures Announces Delisting and Update of Several USDⓈ-M Perpetual Contracts
Effective May 15, 2024 at 12:00 PM, Binance Futures will initiate the closing of all positions and automatic settlements for USDⓈ-M IDEXUSDT, SLPUSDT and GLMRUSDT perpetual contracts.
Then, on May 16, 2024, at 12:00 pm, the exchange will conduct similar transactions for MDTUSDT and AUDIOUSDT perpetual contracts. These contracts will be delisted upon completion of settlements.
In addition, Binance Futures announced plans to adjust leverage and collateral tiers for the aforementioned perpetual contracts, effective May 8, 2024 at 1:30 p.m.
Existing positions opened before the update will be affected by these adjustments. The exchange advises users to pre-adjust their positions and leverage ahead of planned updates to reduce potential liquidation risks.
In light of these changes, users are required to close their open positions before the delisting dates to avoid automatic liquidations.
Additionally, Binance Futures has imposed restrictions on opening new positions for the affected contracts starting from certain dates.
Starting at 11:30 on May 15, 2024, users will not be allowed to open new positions for IDEXUSDT, SLPUSDT and GLMRUSDT USDⓈ-M perpetual contracts.
As of May 16, 2024 at 11:30, new positions will not be opened for MDTUSDT and AUDIOUSDT USDⓈ-M perpetual contracts.
These strategic adjustments by Binance Futures reflect the dynamic nature of the cryptocurrency derivatives market and aim to optimize trading conditions for users while complying with evolving regulatory requirements.
*This is not investment advice.