What’s Auction-Style Liquidation Strategy

What is Auction-style Liquidation Strategy?

CoinEx Auction-style Liquidation Strategy will determine a target price range based on the optimal price, and submit limit orders according to the pricing tier. That is, every 0.5s, the order will be re-delegated with a 0.5% increase or decrease in the optimal price until the position is closed at the target price within the maximum time limit. This strategy aims to ensure that in case of insufficient market liquidity, large liquidation orders can still be fully or partially executed within a certain time, instead of remaining unexecuted for a long time.

 

The Auction-style Liquidation Strategy will be applied, when

1. [TP/SL] is triggered

2. [Close All] is used

3. [Close Position] at the market price is used to close all position.

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Notes:

1. If your position in a certain market is under the Auction-style Liquidation Strategy, no new orders will be allowed in the same market. You can ONLY place new orders after the strategy ends.

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2. If forced liquidation or Auto-Deleveraging is triggered during the process, the Auction-style Liquidation Strategy will be stopped, and forced liquidation or Auto-Deleveraging will be executed.