Coinbase to Shift Institutional Accounts to Deribit Next Month

Why is Coinbase Making This Change?

Coinbase is moving its institutional clients' International Exchange accounts to Deribit. This transfer will take place on September 9. All balances and open positions will be migrated. Trading is expected to stop for around 30 minutes during this transition.

This change affects institutional users of Coinbase's International Exchange. It streamlines operations for these large-scale investors. The move aims to consolidate services and enhance efficiency.

What Happens to My Open Orders During the Migration?

The decision to migrate to Deribit reflects a strategic realignment. Coinbase is optimizing its offerings for institutional clients. This integration with Deribit, a major derivatives exchange, could offer more specialized trading options. It also centralizes the management of these complex accounts.

All existing orders on the International Exchange will be canceled before the migration. Clients must manually re-enter their orders on Deribit after the transfer. This ensures a clean transition and avoids any unexpected order executions. Users should prepare for this brief interruption in trading activity.

# What exactly is happening on September 9?

All open orders on Coinbase's International Exchange will be canceled. This will occur just before the September 9 migration. Clients will need to place new orders on the Deribit platform. This ensures a fresh start on the new system.

The migration is a significant operational undertaking. It requires careful coordination to minimize disruption. Institutional clients have been notified to prepare for these changes. The goal is a seamless transition to the new platform.

# Do I need to do anything with my current orders?

On September 9, Coinbase will transfer institutional International Exchange accounts, including balances and open positions, to Deribit. Trading will pause briefly during this process.

Yes, all existing open orders on the Coinbase International Exchange will be canceled. You will need to manually re-enter these orders on Deribit after the migration is complete.