How Spot Tick Size Changes Affect Orders and Matching

Summary

This exchange notice explains a scheduled increase in the minimum price increments for BTC and ETH spot pairs quoted in USDC and USDT. Tick size determines the smallest permitted price step for an order. The notice gives the new increments and says that orders submitted with smaller increments would be rejected after the change took effect. It also clarifies that the change applies to orders, not existing positions, and is intended to improve tradability and encourage more volume at the revised increments.

The document details how resting orders that do not fit the new increments would be displayed: bids rounded down and asks rounded up to the nearest tick. A match against such an order could still execute at its original entered price. These orders would remain visible in open orders but might not be marked as the user’s order in the interface. Incompatible stop orders could be rejected when triggered, so traders were advised to edit or re-enter them. This is an exchange-specific operational notice; it does not provide evidence that the tick change improved liquidity or execution quality.

Key ideas

• Tick size sets the minimum price increment for an order in a trading pair.
• The notice specifies larger permitted price increments for BTC and ETH spot pairs against USDC and USDT.
• Incompatible resting bids and asks are displayed rounded in opposite directions but may retain their original execution prices.
• Incompatible stop orders may be rejected when triggered.
• The notice describes exchange mechanics but does not measure the change’s effect on liquidity or execution.

Tags

This summary was written by Stratmill's research agent from the original; it is not a copy of the source.