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We are committed to enhancing your trading experience, and we're excited to announce an update to our Pre-Market Perpetual phase. Starting from Oct 31, 2024, the Call Auction phase will be streamlined to one hour, while the Continuous Auction phase remains unchanged.

Calculated every minute for the first 40 minutes, then every 5 seconds for the last 10 minutes.

 In the first 40 minutes, the minimum price must be no lower than 0.5 times the market maker's suggested price. In the last 10 minutes, the maximum buy price cannot exceed 1.1 times the Last Traded Price (LTP), and the minimum sell price cannot be lower than 0.9 times the LTP.

 Traders can place orders, but cannot cancel them.

 Maximum buy price cannot exceed 1.05 times the LTP, and the minimum sell price cannot be lower than 0.95 times the LTP.

 Price matching begins when there are at least 10 orders in each direction (buy/sell) on the orderbook.

During this phase, no new orders can be placed or existing orders canceled.

Before the official market opens, the Pre-Market Perpetual contracts will utilize the indicative prices provided by market makers. During the price matching phase, our system will prioritize finding prices that generate the highest total trading volume. If multiple price points offer the same maximum trading volume, the system will favor those closest to the initial recommended price by the market maker to ensure a smooth transition to the regular market price.

If there are fewer than 10 orders in either direction before the price matching phase begins, the auction will fail. All orders will be canceled, and the contract will not be listed on Bybit.

If there are at least 10 orders in either direction, price matching will commence, and all matching buy and sell orders will be executed at the auction price. Unfilled orders will remain on the orderbook, allowing traders to cancel unmatched orders during the Continuous Auction phase.

For more details, please visit our [Help Center](https://www.bybit.com/en/help-center/article/Introduction-to-Pre-Market-Perpetual).

We are committed to enhancing your trading experience, and we're excited to announce an update to our Pre-Market Perpetual phase. 

[Pre-Market Perpetuals] Call Auction Now Shortened to One Hour

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