We are upgrading our trading technology to improve the speed and stability of our exchange. As a first step, we have already started migrating pilot users’ accounts to the upgraded system.
BitMEX will gradually migrate all users’ trading accounts to the new system starting March 25, 2024. This process is expected to take approximately 3 weeks, and we will notify you when it is complete.
Users do not need to take any action to migrate, but you should be aware of significant changes to the API and cross-margin system with this upgrade.
If you are an API user, we encourage you to test our trading software. testnet environment. of all accounts testnet.bitmex.com It has already been migrated to the new system.
Please contact your Relationship Manager 24/7. apply If you have any questions.
API changes
The new system can process more than one order at a time, which requires the introduction of a pending order state similar to the FIX protocol. This means that BitMEX can send order status updates via REST or Websocket API using one of the following values for OrderStatus:
- Pending New Item
- Pending replacement
- Cancel pending
These conditions are usually not exposed. However, it may be transmitted in some scenarios. For example, if an ongoing cancellation has not yet been confirmed and another cancellation is received for the same order, the order status would be: Cancel pending and execType Cancellation refused.
Traders may need to update their trading software to handle this pending order status.
Cross margin system changes
We have further updated the way our cross margin system works to improve capital efficiency and allow users to trade more.
- Unrealized P&L can now be shared between cross margin positions.
- In cross margin, only the maintenance margin is locked.
- Under cross margin, all cross margin positions in your account are liquidated simultaneously.
- Unrealized P&Ls can be used as margin for derivatives positions, but only realized balances can be used for withdrawals, transfers or spot or conversion transactions.
Because of these changes, users may notice changes to the chart’s position table and/or position indicator lines when using the web or mobile interface.
The experience for positions using isolated margin is the same as the existing BitMEX experience.
As the system upgrade progresses, stay tuned for upcoming blog posts that will discuss the changes in more detail. In the meantime, if you have any questions, please contact our support team, available 24/7.
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