Coinbase details 30-minute force-settle plan for Deribit institutional migration
Coinbase outlined steps to move Deribit institutional positions, including a 30-minute cutover window and an Aug. 28 opt-out.
Coinbase has laid out a technical transition plan for migrating institutional positions from Deribit to its own platform, including a forced settlement and recreation step designed to happen within a 30-minute window.
The plan specifies an Aug. 28 opt-out boundary for clients who do not want to be migrated. After that date, the cutover is expected to proceed, with new platform keys issued, account histories preserved, and margin loans closed before the final switch.
Key transition steps
- New platform keys generated for migrated accounts
- Historical trade data saved and transferred
- Open margin loans closed ahead of the cutover
- Institutional positions force-settled and recreated within 30 minutes
The migration is part of Coinbase’s broader acquisition of Deribit, which was announced earlier this year. The exchange has been working to integrate Deribit’s derivatives business into Coinbase’s institutional offering while minimizing disruption for active derivatives traders.