Dear HTX Users,

To improve service quality and optimize system performance, HTX will conduct a phased upgrade and migration of the USDT-M Futures Trading System, starting on April 7, 2026, at 02:30 (UTC). This upgrade is designed to enhance system stability and processing efficiency, providing a more robust and reliable trading environment for our users.

The migration will be carried out in phases and completed automatically by the system. No action is required from users. Please see the details below:

Migration Arrangements

The platform will implement a progressive, phased migration to ensure a smooth transition while prioritizing user experience. The system will automatically complete the process based on account status, requiring no manual intervention or additional action.

1. Single-Asset Collateral Mode

• The system will automatically migrate eligible users in batches.
• Device Requirements for Migration: App users must update to the latest version (v11.13.0 or higher). Users who exclusively use the web interface are not affected by app version requirements.
• Conditions for Triggering Migration: Once device requirements are met, the system will automatically upgrade accounts to the new system when there are no open positions or pending orders in the futures account.

2. Multi-Assets Collateral Mode

• The system will progressively implement the new risk control mechanisms.
• Device Requirements for Migration: There are no specific version or device requirements. However, updating to the latest app version is recommended for an optimal trading experience.
• Migration Trigger Conditions: The system will automatically apply the new risk control mechanisms only to positions and orders created after the migration begins. Existing open positions and pending orders will continue to follow the previous mechanisms to ensure current trades remain unaffected and the transition is seamless.

3. Other Important Information

• At the current stage, the phased migration will apply only to existing manual traders. Migration for API users will begin in a later phase, and a separate announcement will be issued at that time.
• New accounts (including newly registered HTX accounts and newly created sub-accounts) will not initially be assigned to the new Single-Asset Collateral futures trading system. Full assignment will occur during the full migration stage, with a separate announcement when it begins.
• Users in the migration batch currently using Multi-Asset Collateral mode will be automatically moved to the new Single-Asset Collateral system after manually switching to Single-Asset Collateral mode.

Upgrade Highlights

This update delivers major optimizations to the USDT-M Futures trading system, including a complete overhaul of the core trading engine, upgraded risk control models, and significant improvements to overall system performance. These enhancements lay a robust foundation for future feature iterations, enabling faster trade execution and greater system stability. Key improvements are detailed below:

[Single-Asset Collateral Mode System Upgrade Details]

1. Added Mechanism to Calculate Potential Loss from Open Orders

• Definition: If a buy order is placed above the mark price, or a sell order is placed below the mark price, the system will account for the potential order loss upon execution when calculating both the initial margin ratio and the maintenance margin ratio. This is defined as Potential Loss from Open Orders. This mechanism applies exclusively to Cross Margin orders; Isolated Margin orders are exempt.
• Formula:

• • Potential loss from an open USDT-M futures order = Number of contracts * Face value per contract * max (0, (Estimated fill price of the order - Mark price) * Order direction)
  • Total loss of open orders = Σ Potential order loss per crypto * Last price
  • The order direction is 1 for long orders; -1 for short orders.
  • The latest price for USDT is fixed at 1.

2. Added Risk-Control Order Cancellation Mechanism

• Core Concept:
  • Risk-control order cancellation is triggered when an account's initial margin ratio (calculated based on the mark price) reaches or exceeds 100%.
  • Once triggered, all non-reduce-only pending orders in the futures account will be canceled. The account will be limited to reduce-only operations, and no new positions can be opened. Normal trading functionality will resume only once the initial margin ratio falls below 100%.
  • If the initial margin ratio remains higher than 100% after the order cancelation, and the maintenance margin ratio reaches or exceeds 100% due to market movements, the system will then trigger forced liquidation.
  • This mechanism applies exclusively to Cross Margin accounts; Isolated Margin accounts are not subject to risk-control order cancellation.

3. Changes to Forced Liquidation Rules

• Previous rules: The liquidation process was triggered only when the margin ratios—calculated using both the market price and the mark price—reached or exceeded 100%. Liquidation risk was assessed using an adjustment coefficient.

• New rules: The liquidation process is now triggered solely when the maintenance margin ratio—calculated based on the mark price—reaches or exceeds 100%. Liquidation risk is now evaluated using the tiered maintenance margin ratio.

4. Changes to Initial Margin and Initial Margin Ratio Calculation Method

The updated calculation method is as follows:

• Cross Margin Mode
  • USDT margin equity = USDT asset equity − Total loss of open orders
  • USDT asset equity = Available USDT Assets Σ Unrealized PnL of cross positions
  • Available USDT assets = USDT cross balance − Margin occupied by isolated orders
  • USDT initial margin = USDT-M futures initial margin
  • USDT-M futures initial margin = Position initial margin Order initial margin
  • Initial margin ratio = 1 / leverage
  • Position initial margin = Position size × Face value per contract × Real-time mark price × Initial margin ratio
  • Order initial margin = Order size × Face value per contract × Estimated fill price × (Initial margin ratio Taker fee rate based on user's Prime level)
  • USDT initial margin ratio = USDT initial margin / USDT margin equity
• Isolated Margin Mode
  • Isolated initial margin = Isolated position initial margin
  • Isolated position initial margin = Position size × Face value per contract × Real-time mark price / Leverage
  • As the risk-control order cancellation mechanism does not apply to isolated margin mode, the calculation of an initial margin ratio is not required.

5. Changes to Maintenance Margin and Maintenance Margin Ratio Calculation Method

The updated calculation method is as follows:

• Cross Margin Mode
  • USDT maintenance margin = USDT-M futures maintenance margin
  • USDT-M futures maintenance margin = Position maintenance margin Order maintenance margin
  • Position maintenance margin = Position size × Face value per contract × Real-time mark price × (Maintenance margin ratio Taker fee rate based on user's Prime level)
  • Order maintenance margin = Order size × Face value per contract × Mark price × (Maintenance margin ratio Taker fee rate based on user's Prime level)
  • USDT maintenance margin ratio = USDT maintenance margin / USDT margin equity

• Isolated Margin Mode
  • Isolated maintenance margin = Isolated position maintenance margin
  • Isolated position maintenance margin = Position size × Face value per contract × Mark price × (Maintenance margin ratio Taker fee rate based on user's Prime level)
  • Isolated position maintenance margin ratio = Isolated maintenance margin / (Isolated position margin Isolated position unrealized PnL)

6. Updates to Available and Transferable Unrealized PnL

• Previous Rules:
  • Unified Cross and Isolated Margin Account: In cross margin mode, unrealized PnL is available for opening new positions but not transferable. In isolated margin mode, unrealized PnL is neither available nor transferable.
  • Non-Unified Cross and Isolated Margin Account: In both cross and isolated margin mode, unrealized PnL is neither available for opening new positions nor transferable.

• New Rules:
  • In cross margin mode, unrealized PnL is available for opening new positions and is transferable. In isolated margin mode, unrealized PnL is neither available nor transferable.
  • Calculation Formulas in Cross Margin Mode:
    • USDT available margin = max (0, USDT margin equity - USDT initial margin)
    • Maximum transferable amount = max [0, min (Available asset Unrealized PnL - Trial Bonus balance, Available asset margin)]
    • Maximum open position = Available margin / [Contract face value × max(0, (Order price − Mark price) × Order direction) Contract face value × Order price / Leverage]
  • Calculation Formula in Isolated Margin Mode:
    • Transferable margin of position = Isolated position margin min(0, Unrealized PnL) − Isolated position initial margin

7. Optimization of Leverage Setting Mechanism

• Previous Rules:
  • In isolated margin mode, long and short positions could not set leverage independently.
  • Leverage adjustments for a trading pair were restricted if there were active pending orders for that pair.

• New Rules:
  • After the upgrade, isolated margin mode allows independent leverage settings for long and short positions.
  • Leverage can now be adjusted for trading pairs even when active pending orders exist.

8. Changes to Position Mode Configuration

• Previous Rules: Users could set different position modes (One-Way or Hedge) per trading pair.
• Users can no longer switch between one-way mode and hedge mode on a per-trading-pair basis. A single account may have only one active position mode at any given time. Switching is restricted if there are open positions or pending orders.

[Multi-Assets Collateral Mode System Upgrade Details]

1. Changes to Initial Margin and Initial Margin Ratio Calculation Method

The updated calculation method is as follows:

• Account initial margin = Position initial margin Order initial margin
• Position initial margin = Position size × Face value per contract × Real-time mark price × Initial margin ratio
• Order initial margin = Order size × Face value per contract × Estimated fill price × (Initial margin ratio Taker fee rate based on user's Prime level)
• Account initial margin ratio = Account initial margin / Account margin equity

2. Changes to Maintenance Margin and Maintenance Margin Ratio Calculation Method

The updated calculation method is as follows:

• Account maintenance margin = Position maintenance margin Order maintenance margin
• Position maintenance margin = Position size × Face value per contract × Real-time mark price × (Maintenance margin ratio Taker fee rate based on user's Prime level)
• Order maintenance margin = Order size × Face value per contract × Mark price × (Maintenance margin ratio Taker fee rate based on user's Prime level)
• Account maintenance margin ratio = Account maintenance margin / Account margin equity

[Other Updates]

1. Changes to Account Type Framework

• Previous Rules:
  • Account types were categorized as either a Unified Cross and Isolated Margin Account or a Non-Unified Cross and Isolated Margin Account.
  • Main accounts were set to Unified by default, while manually created sub-accounts were set to Non-Unified by default.
  • Users could adjust their account type via API.

• New Rules: Regardless of the Collateral Mode, all futures accounts (including main accounts and sub-accounts) will be standardized as Unified Cross and Isolated Margin Accounts. The concept of the Non-Unified Cross and Isolated Margin Account will be discontinued.

2. Changes to Fee Deduction Rules

• Previous Rules:
  • Unified Cross and Isolated Margin Account: If the futures fee deduction toggle is enabled and the account holds sufficient offsetting assets, futures trading fees are deducted in real time.
  • Non-Unified Cross and Isolated Margin Account: Real-time deduction of futures trading fees is not supported.

• Futures trading fees will be deducted in real time whenever the futures fee deduction toggle is enabled and sufficient offsetting assets are available, regardless of account structure.

3. Change in Settlement Asset for Negative Maker Income

• Previous Rules:
  • Non-Unified Cross and Isolated Margin Account: Negative Maker fee income was settled only in USDT.
  • Unified Cross and Isolated Margin Account: Negative Maker fee income could be settled in USDT, TRX, or $HTX, depending on the asset used by the counterparty to pay their trading fees.

• New Rules: Negative Maker fee income will be settled in USDT, TRX, or $HTX, based on the specific asset used by the counterparty for fee payment.

Notes:

• Asset Security: Throughout the upgrade and migration process, your assets will remain protected under the highest security standards, ensuring a seamless transition in your trading experience.
• Scope of Upgrade: This upgrade applies exclusively to the USDT-M Futures trading system; the Coin-M Futures trading system will remain unaffected.
• Timeline: The estimated completion time for this upgrade is yet to be determined. We will provide timely updates on the progress and migration schedule through further official announcements.

If you have any questions, please contact our online customer service. Our team is available 24/7 to assist you.

Thank you for your continued support and trust. We will continue to provide high-quality products and services to you, just as we always have.

HTX Team

April 3, 2026

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HTX si riserva il diritto, a sua esclusiva discrezione, di modificare, cambiare o cancellare questo annuncio in qualsiasi momento e per qualsiasi motivo senza preavviso. Quanto sopra riportato è solo a scopo informativo e HTX non fornisce raccomandazioni o garanzie in merito a risorse digitali, prodotti o promozioni su HTX. I prezzi degli asset digitali sono altamente volatili e il trading di asset digitali comporta dei rischi. Si prega di leggere qui il nostro “Promemoria sui rischi”.