Event Contracts Between settlement and dispute rules

Between

• Settlement anchor: OKX official index.

• Settlement price: the arithmetic mean of per-second official index prices over the 1-minute window immediately before expiry.

• Settlement logic: evaluated once at expiry. With lower bound a and upper bound b (a < b): if a ≤ settlement price < b (in range) → Yes; otherwise → No.

• Boundaries: the range is left-closed and right-open. The lower bound is included, and the upper bound is excluded.

• No early settlement: early settlement is not supported. Price excursions during the contract life do not affect the outcome; only the expiry settlement price is used.

• Insufficient data: if usable index price data points within the settlement window fall below 50%, the event enters dispute review.

• Gold (XAU) trading hours and non-trading days: Gold's underlying TradFi market follows fixed trading sessions and holiday closures. OKX references the XCEC Holiday Calendar to identify scheduled non-trading days for the TradFi components of the XAU index. If the scheduled expiry date of an XAU Between contract falls on a non-trading day, OKX will not list that contract.

• XAU market disruption: If an unscheduled trading halt, early close, stale price, insufficient data, or other underlying market disruption occurs, the event enters dispute review and OKX determines the final settlement price under the manual settlement procedure.

• Dispute: if the settlement price is abnormal, settlement is suspended pending dispute review and the contract is settled at the corrected price after platform review.

Part 1: Between

1. Settlement Price CalculationThe settlement price is determined by the arithmetic mean of OKX official index prices within a specified time window immediately before the event's expiry.

2. Evaluation Point and Logic

• Evaluation point: the expiry timestamp, evaluated once.

• With lower bound a and upper bound b (a < b): if a ≤ settlement price < b → Yes (in range); otherwise → No (out of range).

3. Range and Boundary Semantics

• The range is left-closed and right-open: it includes the lower bound and excludes the upper bound.

• Settlement price = lower bound a → Yes; settlement price = upper bound b → No.

4. Insufficient Data and Dispute Handling

5. Gold (XAU) Trading Hours, Non-Trading Days, and Market Disruption

• Scheduled non-trading days: OKX references the XCEC Holiday Calendar to identify scheduled non-trading days for the TradFi components of the XAU index. If the scheduled expiry date of an XAU Between contract falls on a non-trading day, OKX will not list that contract; such events are excluded at the listing stage.

• Settlement window: For listed XAU Between contracts, the settlement price should be calculated using available OKX XAU-USDT official index prices during the 1-minute window immediately before expiry.

• Market disruption: If the underlying TradFi market experiences an unscheduled trading halt, early close, stale price, insufficient data, or other price anomaly, settlement is suspended and the event enters dispute review. OKX determines the final settlement price, reference timestamp, or calculation window under the manual settlement procedure and, where applicable, issues a public announcement.

Part 2: Dispute Mechanism

• Trigger: automatic (e.g., missing index price or risk-control rule triggered) or manual (anomaly detected by the platform or user complaint via ticket).

• Process: a multi-round independent review is conducted. An authorised operator inputs the applicable settlement price, the corresponding reference timestamp, and the reason for manual settlement to confirm the final settlement price.

• During dispute: settlement is suspended; all resting orders on the affected contract will be cancelled at the designated settlement time; open positions will be settled at the confirmed price once the review is complete.

• Outcome: original price confirmed → settle at original price; price error identified → re-settle at corrected price.

• Public disclosure: for any contract settled under a manual or early settlement procedure, OKX will issue a public announcement covering the affected contract, the reason for the adjustment, the settlement price, the reference timestamp or calculation window, and the treatment of resting orders and open positions.

Part 3: Settlement and Fees

Upon settlement, profit and loss are credited to the user's account and the position is closed. No additional fees are charged for settlement.

Part 4: Risk Disclosure

1. Settlement is anchored solely to the OKX official index. The settlement price is the arithmetic mean over the time window immediately before expiry and may differ from the price on any single exchange at a given moment.

2. Gold's underlying TradFi market follows fixed trading sessions and holiday closures, and may experience unscheduled trading halts, early closes, stale-price conditions, or insufficient data, any of which may trigger dispute review.

3. OKX reserves the right to suspend settlement or adjust parameters without prior notice under extreme market risk, and to re-open after assessing the risk.