OKX US to sell USD trading bot positions if users miss Sept 30 deadline

OKX US has announced that any open orders and automated trading bots remaining on targeted dollar trading pairs will be canceled when those order books are retired on September 30. For traders utilizing Grid and Smart Portfolio bots, positions on these impacted pairs will also be liquidated by the exchange, meaning failure to act could prove expensive.

Based on the customer notice issued in the US, equivalent USDC trading pairs have run concurrently with the impacted USD pairs since September 23. Traders have until the migration window closes to cancel open USD-denominated orders, halt those bots, and re-establish them using the USDC pairs. Any orders and bots set up on these substitute pairs throughout the parallel availability period will continue running uninterrupted afterward.

What the deadline changes

The retirement of the legacy order books is scheduled by OKX US to take place between 3:00 a.m. and 4:00 a.m. Eastern time on September 30 (7:00 a.m. to 8:00 a.m. UTC). Any leftover orders, bots, or automated trades tied to the affected USD pairs will be canceled. According to the migration timeline provided by OKX, bots relying on these pairs might experience a gradual shutdown during that hour, with the specific USD pairs officially delisted at 8:00 a.m. UTC.

The automated cancellations impact various bot positions differently. OKX stated it will liquidate positions held within Grid and Smart Portfolio bots. Meanwhile, positions managed by Dollar-Cost Averaging (DCA), Recurring Buy, and TWAP/Iceberg bots will be retained following the migration, even though the bots themselves will shut down. Forced liquidations run the risk of incurring trading fees or slippage, which may result in a realized financial gain or loss depending on individual user holdings and market execution.

This migration targets specific USD trading pairs rather than every dollar-denominated market on the platform; notably, the USDT-USD pair is excluded. OKX US emphasized that account balances, as well as deposits and withdrawals, remain entirely unaffected. Furthermore, the announced liquidations apply exclusively to the specified bot positions instead of representing a blanket sale of user funds.

The transition does not remove dollar funding options from the consolidated order book. OKX US noted that users will retain the ability to place orders using USD, which will automatically convert into USDC to tap into the updated liquidity pool. This distinction is crucial for traders who might incorrectly assume they need to manually exchange their dollar balances beforehand; the primary action requested in the notice is simply shifting affected open orders and bots over to the matching USDC pairs.

For traders impacted by the change, delaying action past the deadline results in the forfeiture or cancellation of the existing USD-pair order or bot rather than an automatic transfer. Handling the migration during the parallel timeframe ensures traders maintain full oversight over when their strategies halt and how any Grid or Smart Portfolio positions are managed prior to the planned shutdown by OKX.

?Frequently Asked Questions

01When is the OKX US USD trading pair retirement deadline?

The legacy order books will be retired between 3 and 4 a.m. Eastern time on Sept. 30 (7 to 8 a.m. UTC).

02What happens to my Grid and Smart Portfolio bots if I miss the deadline?

OKX US will sell positions in Grid and Smart Portfolio bots on the affected pairs, which may incur trading fees or slippage and lead to realized gains or losses.

03Are all dollar markets and balances affected by this change?

No. Selected USD trading pairs are affected, but USDT-USD is exempt. Account balances, deposits, withdrawals, and dollar funding for the consolidated book are unaffected.