BIT plans to perform system upgrade from Nov 14, 2023, 7:50 to 9:00 (UTC).The upgrade will take approximately 70 minutes, during which all activities from Web/App/API will be temporarily suspended.

Once the system upgrade is completed, BIT will reserve 15 minutes for users to cancel orders before trading resumes.

The settlement mechanism for perpetual and option contracts has been changed from daily settlement to real-time settlement, whereby realized profits and losses will be immediately credited to the account balance without having to wait for the daily settlement time, thus effectively enhancing the utilization of funds. In addition, unrealized profits and losses will not be settled on a daily basis, and users will need to close their positions in order to settle their profits and losses (<a href="https://bitexch.io/en/articles/9777327" rel="nofollow noopener noreferrer" target="_blank">learn more</a>).

Margin calculation formula under Portfolio Margin Mode (PM) has been updated (<a href="https://bitexch.io/en/articles/9777329" rel="nofollow noopener noreferrer" target="_blank">learn more</a>).

Default leverage for perpetual contracts has been lowered from 3x to 2x <br>Support for STBT as collateral under Unified Margin Mode (UM)

- The settlement mechanism for perpetual and option contracts has been changed from daily settlement to real-time settlement, whereby realized profits and losses will be immediately credited to the account balance without having to wait for the daily settlement time, thus effectively enhancing the utilization of funds. In addition, unrealized profits and losses will not be settled on a daily basis, and users will need to close their positions in order to settle their profits and losses (<a href="https://bitexch.io/en/articles/9777327" rel="nofollow noopener noreferrer" target="_blank">learn more</a>).
- Margin calculation formula under Portfolio Margin Mode (PM) has been updated (<a href="https://bitexch.io/en/articles/9777329" rel="nofollow noopener noreferrer" target="_blank">learn more</a>).
- Default leverage for perpetual contracts has been lowered from 3x to 2x <br>Support for STBT as collateral under Unified Margin Mode (UM)

Please note that all services might be back online earlier if the system upgrade is completed ahead of the schedule.

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