KuCoin's Call Auction FAQ

1，What is Call Auction on KuCoin? 
KuCoin’s Call Auction enables users to submit buy and sell orders at their preferred prices prior to the official start of trading for a new pair. The call process consists of two primary components: the pricing mechanism and the trading rules. The trading system organizes orders according to price priority and time priority and determines an indicative opening price based on these orders.

2，How is the opening price determined?
The opening price is determined based on the following three criteria:
- This is the price that would result in the highest trading volume.
- Buy orders with prices higher than this price as well as sell orders with prices lower than this price can all be filled.
- All buy orders at this price will be filled, or all sell orders at this price will be filled.

3，Which projects will support the Call Auction?
Call Auction will take place on selected trading pairs as reference below. Please refer to the individual listing announcement for details.

4，What types of orders are supported in the Call Auction?
Only limit orders are supported in the Call Auction. While order cancellation is supported in certain phase, order modification is not supported throughout the Call Auction.

5，How does KuCoin’s Call Auction work?
KuCoin’s Call Auction occurs in three distinct phases with its own timeframe. It is essential for users to understand these phases and adapt their bidding strategies accordingly.

Phase 1: Users can place and cancel orders at any time.

Phase 2: Users can place orders at any time, but orders can not be canceled.

Phase 3: Users can not place order or cancel orders

6，What information is available to users during the Call Auction?
- Estimated Opening Price of the trading pair.
- Estimated Matched Orders Volume
- Current price range of buy and sell orders
However, these reference data may not represent the actual conditions when a trading pair starts to be traded in the market.

7，How are the fees charged during the Call Auction?
At the end of the Call Auction, we will calculate the final opening price and trading volume based on placed buy and sell orders. Trading fees for orders filled in Call Auctions will be charged according to taker fee rates.

8，Is the Call Auction supported through the API?
Yes. Just like other trading products, you can place orders during the Call Auction via API. You can also access market data and order book depth through the REST API and WebSocket feed.