To better protect users from extreme price moves, BitMax.io will use reference pricing for the following trading pairs as the stop price for stop orders at 3:00 p.m. EDT, July 5th, 2019. This update will be effective for both regular and margin trading.
Post the implementation, when a stop order is placed, the order will be triggered when the reference price reaches the designated stop price. Then the order will be executed as a regular limit/market order.
In order to mitigate price deviation due to market volatility, BitMax.io uses composite reference price for the average price. The reference price is computed by taking an average last trade price from the following five exchanges (upon availability at the time of computation)- BitMax.io, Binance, Huobi, OKEx and Poloniex, and removing the highest and lowest price.
Thank you for the continued support.
July 4th, 2019