Kraken to Replace 176 Trading Pairs; Open Orders Will Not Carry Over

Kraken plans to replace 176 native trading pairs with synthetic pairs, a change that will leave affected customers’ open orders behind when the exchange removes the current markets. The affected list includes 140 euro-quoted pairs, making EUR the quote currency for most of the markets covered. The assets will remain on the exchange, while the trading routes change.

At 9 a.m. ET (14:00 UTC) Nov. 6, the affected markets are scheduled to enter cancel-only mode. Customers will be able to cancel existing orders, but they will not be able to submit new ones through those pairs. Remaining orders are set to be canceled as Kraken removes the native markets between Nov. 6 and Nov. 9. None will transfer to a replacement pair.

Synthetic replacements are planned to be available by the end of Nov. 9. Customers who want to trade on one will have to place a new order after it is listed. That order will use the synthetic pair’s trading mechanics; the price and quantity instructions from an open order on a native pair will not carry over. Customers without open orders on affected pairs do not need to take action.

A synthetic pair routes a trade through two underlying markets that share a common currency, combining the route into one trade. The replacement pairs support market and limit orders. Limit orders do not rest in an order book; they are monitored until they can be filled at the specified price or better. Partial fills are not supported, so orders do not execute in portions. Both market and limit orders carry a taker fee.

The change applies to trading pairs, not account balances: balances will be unaffected, and the assets will remain on Kraken. Margin pairs are excluded. Regional and regulatory restrictions apply to synthetic pairs. The first scheduled change is the move to cancel-only status at 9 a.m. ET (14:00 UTC) Nov. 6.