Conversation

SBF
@SBF_FTX
1) $FIL has been extremely volatile today -- moving up and down 100's of percents. Also huge difference between exchanges, and between spot and futures. Overall it was a pretty eventful launch! Two notes: --index --price bands and failed orders
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SBF
@SBF_FTX
2) There is now an index for $FIL! Binance USDT Binance BTC Huobi USDT Huobi BTC Kraken USD Funding is quite negative -- close to 1% per hour for longs. Watch out!
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SBF
@SBF_FTX
3) $FIL hit price bands a few times. This is generally your responsibility to understand, and we make absolutely no promises going forward; we likely will _not_ do this again, and definitely not for anything except exactly this, but:
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SBF
@SBF_FTX
4) If you got rejected due to price bands in $FIL while closing, we can give you that trade. This means: Before 3:30am HK , at ftx.com/trade-history, you have an order in FIL-PERP or FIL-1225 which: a) closing market order b) has status 'canceled' c) didn't get any fills
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SBF
@SBF_FTX
5) This *only* applies if a-c apply, and will not be done again. This happens because FTX has temporary price bands to prevent large wicks; those kicked in during huge $FIL moves. If a-c apply to you, email support@ftx.com with your subaccount name by 11pm HKT today.
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SBF
@SBF_FTX
6) Every system went as designed at FTX, but it probably would have made sense to widen out price bands given the large expected volatility.
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Austerity Sucks
@austerity_sucks
Replying to
@SBF_FTX
and
@SBF_Alameda
i'm a bit confused bc i thought in a conversation before discussing what market rules made sense in cases where user executions get restricted, that you mentioned "close" orders should always be able to execute. so when you say it was behaving as designed, why restrict closes?
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