We have launched a circuit breaker system as a measure to prevent sudden price changes.
This system will display the trading mode on the exchange screen. In addition to "Normal Mode," there are a total of five trading modes: "Circuit Breaker Mode," "Preparation for Reopening Mode," "New Listing Mode," and "Indefinite Circuit Breaker Mode''. The current mode can be viewed in real time on the exchange screen.
This section will make an explanation of the Circuit Breaker System based on the "Trading Mode”.
When an order is placed that is expected to be executed at a price outside of a certain price limit range set by bitbank, the "Circuit Breaker Mode '' will be activated, suspending trading and resuming it with Itayose. Once it is activated, the trading mode will switch from the "Normal Mode" to the "Circuit Break Mode '' of the exchange-traded system.
Orders can be placed even in Circuit Break Mode, but the orders (exchange-traded system)cann't match with each other immediately. The trading system is switched to the Itayose method, whereby all sell and buy orders on the market are matched after a certain period of time at the price that maximizes the execution volume of the sell and buy orders at once. Please note that orders are not executed immediately as in normal mode.
Circuit Break Mode
| Target crypto assets | BTC/JPY、ETH/JPY、XRP/JPY | Others |
| Price limit in normal time |
20% above or below the base price ※If the CB is triggered consecutively within 60 minutes, the price limit will be extended by 10% in the direction of the trigger (up to 50%). |
50% above or below the base price ※If the CB is triggered consecutively within 60 minutes, the price limit will be extended by 20% in the direction of the trigger (up to 90%). |
| Base price | Closing price 10 minutes prior | Closing price 10 minutes prior |
| Itayose period | Approx. 10 minutes | Approx. 10 minutes |
In "Preparation for Reopening Mode," trading is suspended and resumed using the Itayose method when resuming trading after maintenance that has resulted in a trading halt. In "New Listing Mode," trading is started using the Itayose method when a new crypto asset is listed on the exchange.
''Indefinite Circuit Breaking Mode" is a mode in which trading is suspended and resumed using the Itayose method with no expiration date set in advance. The "Indefinite Circuit Breaking Mode" may be activated in the event of any of the following cases.
・When multiple circuit breaks occur within a short period of time and exceed the predetermined threshold, or when the bitbank.cc determines that stable market operations are difficult to maintain.
During trading modes other than Normal Mode ("Circuit Break Mode," "Preparation for Reopening Mode," "New Listing Mode," and "Indefinite Circuit Break Mode"), the PostOnly option is disabled due to the use of a different Taker/Maker decision method in Normal Mode.
Please note that during the trading mode other than Normal Mode, even if the PostOnly option is specified, the order may be executed as a Taker (and transaction fee will be charged).
Please refer to the following URL for details.
▼ Explanation of the Circuit Breaker System
https://bitbank.cc/docs/circuit-breaker-mode