Event Contracts Hit settlement and dispute rules

Published on 3 July 2026Updated on 3 July 20266 min read

Hit

  • Settlement anchor: OKX official index, monitored in real time on a per-second basis. Index details:

  • Settlement logic: During the contract life, once the official index touches the target price, the contract is settled immediately without waiting for expiry.

    • Hit-Up (target above): index ≥ target → settles to Yes.

    • Hit-Down (target below): index ≤ target → settles to Yes.

    • A touch is registered when the per-second index high or low meets the trigger condition; no minimum duration is required.

  • Settlement price: the official index price at the trigger moment.

  • Not touched by expiry: if no touch occurs during the contract life, the contract settles to No at expiry.

  • Gold (XAU) trading hours and non-trading days: Gold's underlying TradFi market follows fixed trading sessions and holiday closures. OKX references the XCEC Holiday Calendar to identify scheduled non-trading days for the TradFi components of the XAU index. If the scheduled expiry date of an XAU Hit contract falls on a non-trading day, OKX will not list that contract. For listed contracts, touch determination and settlement are performed only when the underlying TradFi market is tradeable and index prices are available.

  • XAU market disruption: If an unscheduled trading halt, early close, stale price, or other underlying market disruption occurs, the event enters dispute review and OKX determines the final settlement price and reference time under the manual settlement procedure.

  • Ordering note: there is a short delay between the touch and the trading halt (normally no more than 2 seconds in total; longer if a data anomaly routes to manual handling). During this delay, the contract may still be tradeable. Do not rely solely on tradeability; verify whether the target has already been touched before placing an order.

  • Dispute: if index data is abnormal or missing, or if a risk-control rule is triggered, settlement is suspended pending dispute review and the contract is settled at the corrected price and time after platform review

Part 1: Hit

1. Settlement Anchor and Monitoring

  • Settlement anchor: the OKX official index is the sole settlement basis; no single external exchange price or OTC price is accepted.

  • Monitoring frequency: per-second, aligned with the official index push frequency.

2. Touch Determination

Type

Trigger

Hit-Up (target price S above)

Index ≥ S

Hit-Down (target price S below)

Index ≤ S

3. Actions on Trigger (in order)

  1. Halt trading on the contract; in practice, a very short delay may occur.

a. There is a delay when entering the settlement process. Before the settlement process begins, once the corresponding price is triggered, trading is still permitted during this interval. Trading stops during and after settlement.b. Please note that the price trend of the corresponding underlying asset should be based on the high and low prices of the candlestick (K-line) chart. The line chart (the second chart) only shows the closing price — the highs and lows between two adjacent points are not displayed on the line.

  1. Enter the settlement process.

  2. Settle the contract to Yes using the official index price at the trigger moment.

4. Gold (XAU) Trading Hours, Non-Trading Days, and Market Disruption

  • Scheduled non-trading days: OKX references the XCEC Holiday Calendar to identify scheduled non-trading days for the TradFi components of the XAU index. If the scheduled expiry date of an XAU Hit contract falls on a non-trading day, OKX will not list that contract; such events are excluded at the listing stage.

  • Non-trading periods: For listed XAU Hit contracts, the system evaluates touches and settlement only when the underlying TradFi market is tradeable and index prices are available. Weekends, daily closure windows, and other scheduled non-trading periods are not evaluated for touch or settlement.

  • Market disruption: If the underlying TradFi market experiences an unscheduled trading halt, early close, stale price, insufficient data, or other price anomaly, settlement is suspended and the event enters dispute review. OKX determines the final settlement price, reference timestamp, or calculation window under the manual settlement procedure and, where applicable, issues a public announcement.

Part 2: Dispute Mechanism

  • Trigger: automatic (e.g., missing index price or risk-control rule triggered) or manual (anomaly detected by the platform or user complaint via ticket).

  • Process: a multi-round independent review is conducted. An authorised operator inputs the applicable settlement price, the corresponding reference timestamp, and the reason for manual settlement to confirm the final settlement price.

  • During dispute: settlement is suspended; all resting orders on the affected contract will be cancelled at the designated settlement time; open positions will be settled at the confirmed price once the review is complete.

  • Outcome: original price confirmed → settle at original price; price error identified → re-settle at corrected price.

  • Public disclosure: for any contract settled early due to unforeseen early closure of the exchange, OKX will issue a public announcement covering the affected contract, the reason for the adjustment, the settlement price, and the reference timestamp or calculation window.

Part 3: Settlement and Fees

Upon settlement, profit and loss are credited to the user's account and the position is closed. No additional fees are charged for settlement.

Part 4: Risk Disclosure

  1. For Hit contracts, there is a short delay between the price touching the target and the trading halt. The delay may be longer when a data anomaly requires manual review. Do not rely solely on tradeability; verify whether the target has already been touched before placing an order.

  2. Settlement is anchored solely to the OKX official index. The settlement price is the index value at the trigger moment and may differ from the price on any single exchange at a given moment.

  3. Gold's underlying TradFi market follows fixed trading sessions and holiday closures, and may experience unscheduled trading halts, early closes, stale-price conditions, or insufficient data, any of which may trigger dispute review.

  4. OKX reserves the right to suspend settlement or adjust parameters without prior notice under extreme market risk, and to re-open after assessing the risk.