TradFi Perpetuals and Corporate Action FAQ (AU)
What are TradFi Perps?
TradFi Perps are USDT-settled perpetual derivative contracts that reference proprietary virtual price indices that track the price of underlying stocks, ETFs or commodities. They are only available on our platform as a Derivatives product, and are offered to wholesale customers registered on the Australian platform.
TradFi Perps are not the same as holding stocks or ETFs. You do not own the underlying assets, and you have no shareholder rights such as voting rights or direct ownership. The price of your contract is determined by the virtual price index, which is derived from multiple data sources, including tokenised asset prices and traditional market feeds. It generally moves in line with the underlying stock, ETF or commodity price.
Unlike traditional markets, TradFi Perps are designed to trade 24/7, meaning you can open and close positions at any time — including outside of regular market trading hours. During periods when traditional markets are closed, liquidity may be reduced and prices may be more volatile. A price protection mechanism limits the deviation of the index price from traditional market prices; however, this mechanism may be removed or adjusted during extraordinary market events, as reasonably determined by us.
What is a corporate action?
A corporate action is an event that changes a company's share structure. The most common types are:
Stock split — the company divides each existing share into multiple shares, reducing the price proportionally
Reverse stock split (share consolidation) — the company merges multiple shares into fewer shares, increasing the price proportionally
Note: Commodities do not undergo corporate actions.
Do corporate actions affect my TradFi Perpetual position?
Yes. If your TradFi Perpetual references the price of an underlying stock or ETF, corporate actions may impact your position. Most applicable corporate actions are automatically reflected in the contract.
For non-cash corporate actions (such as stock splits), positions will be closed and reopened at adjusted prices and quantities, which may constitute a taxable disposal event.
Stock splits FAQ
For stock splits and reverse stock splits, your position in the affected contract will be temporarily closed and reopened by the system during the suspension window.
It will be reopened with the adjusted price and quantity in line with the corporate action, while preserving the total value of your position.
What happens to my position in a stock split?
Both events adjust your contract proportionally:
Reducing the contract price — divided by the adjustment ratio
Increasing your position quantity — multiplied by the adjustment ratio
Example: in a 2-for-1 split, your price halves and your contracts double. Total value stays the same.
What happens in a reverse stock split?
The opposite of a forward split:
Increasing the contract price — multiplied by the consolidation ratio
Reducing your position quantity — divided by the consolidation ratio
Example: in a 1-for-10 consolidation, your price increases tenfold and your contracts decrease to one-tenth. Total value stays the same.
Will I receive any cash for fractional contracts that cannot be allocated after rounding?
Yes. If rounding leaves a fractional contract, the residual value is credited to your account in USDT. You will not lose value.
The processing pause (suspension window) FAQ
Why is trading paused on my contract?
Trading is briefly suspended, so all price, quantity, and balance adjustments can be made at the same moment. This prevents mispriced trades during the adjustment.
When does the pause happen and how long does it last?
For US equity perpetuals, the pause occurs at 8:30 PM ET.
The pause typically lasts a few minutes. You will be notified when trading resumes.
What exactly can and cannot I do during the pause?
The following actions are restricted during the pause:
❌ Not available | ✅ Available |
|---|---|
Place new orders | Add USDT to your cross margin trading account Note: any USDT added will be included in margin calculations once trading resumes. |
Cancel existing orders | |
Open or close positions | |
Adjust isolated margin ratio |
How will I know the pause has started?
You will receive a push notification before the suspension window begins.
What happens to my open orders during the pause?
Open orders are not cancelled. They are automatically adjusted and remain active when trading resumes.
Stock split — Order price multiplied by q/p. Order quantity multiplied by p/q.
Reverse stock split — Order price multiplied by q/p. Order quantity multiplied by p/q.
What happens to my Take Profit / Stop Loss (TP/SL) orders?
Untriggered TP/SL orders are adjusted automatically — both the trigger price and limit price are updated. No action needed from you.
Are there any order types that will be cancelled rather than adjusted?
Yes. The following order types are cancelled at the start of the suspension window and must be re-entered manually after trading resumes:
Trailing TPSL
Trigger / conditional orders
Chase limit orders
What happens to bots during corporate action processing?
All bots associated with the affected perpetual contract will be stopped if a corporate action occurs.
If you wish to continue using the bot, you will need to create a new one after the processing is complete.
Notifications and transparency FAQ
How will I be notified about upcoming corporate actions?
We will notify you through the following channels:
At least 5 days before the ex-date: push notification and email to all users holding positions in the affected contract
30 minutes before the ex-date: a further push notification and email reminder
Where can I see a record of the corporate action adjustment applied to my account?
A ledger entry is created in Activity > Transactions > Trade for every corporate action.