We are pleased to announce the launch of a new feature that has been requested by many of our API traders – Cancel Only Mode.
API traders frequently update their orders, adding or canceling orders in response to changes in price or the order book. Since their trading strategy depends on making frequent adjustments, they can be impacted when trading is taken offline for scheduled maintenance or other reasons.
This is where Cancel Only Mode comes in. When Kraken comes back online, there will be a brief period of a few minutes where orders will not execute, but can be canceled.
This gives API traders a few minutes to evaluate their orders in light of anything that has changed since the trading engine was taken offline, and cancel any orders that they no longer want to keep.
Note that new orders cannot be submitted during the cancel only period.
When will Cancel Only Mode be available?
- Starting Saturday December 5
What will Cancel Only Mode look like at Kraken’s API endpoints?
Note that new orders submitted while in Cancel Only Mode will be rejected.
If you have any questions about this new feature, please contact support, or your account manager.