What is delisting?
Delisting is the removal of a listed asset from an exchange. It can be voluntary or involuntary and typically occurs when a project ceases operations, fails to meet listing requirements, undergoes a hard fork, or experiences a split or reverse split occasions with new coins. There are numerous factors that can influence the decision for an exchange to delist an asset.
What to expect during delisting?
When an asset is delisted from an exchange, all trading pairs will stop trading and be removed. An official announcement will be released prior to the cessation of the trading date to inform all users. Users are still able to trade the asset until trading ceases.
- Mark Price calculation: During the last 30 minutes before the cessation of the trading date, the Mark Price of the delisted asset will be calculated as the average of the price index every second over the last 30 minutes, totaling 1,800 Mark Prices.
- Trading restrictions: Starting 30 minutes before trading suspension, you are not allowed to open new positions of the delisted asset. You can only close existing positions (i.e., place reduce-only orders) within 30 minutes before the cessation of trading. Binance reserves the right to suspend trading at any time (i.e., on or before 30 minutes prior to the effective asset delisting time). Please refer to the announcement for the exact suspension time.
- Automatic settlement: If you choose to hold the position until trading cessation, the position will be automatically closed or settled. Please note that trading fees will be charged for the automatic settlement. All unrealized PnL will be calculated and converted into realized PnL at the time of settlement.
To avoid automatic settlement, it’s recommended to close any open positions of the delisted asset before trading ceases.
Settlement price
The settlement price will be calculated as the average of the price index every second over the last 30 minutes before delisting, totaling 1,800 price indexes.
Settlement fee
The settlement fee will be the same as the taker fee for all positions settled at the time of delisting.
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