The migration, set for September 9, will transfer accounts and positions to Deribit while pausing trading for 30 minutes.
Coinbase will migrate institutional clients’ International Exchange accounts, balances, and positions to Deribit on September 9. Trading will pause for approximately 30 minutes during the transition, with all open orders canceled and positions settled at mark price before being recreated on Deribit at the same reference price.
Clients must close positions and accounts by August 28 if they decline the migration. Existing API keys and margin loans will not transfer, requiring clients to set up new arrangements on Deribit. The move consolidates institutional crypto options trading under the world’s largest exchange by volume.
No immediate market reaction was disclosed, though the shift may streamline liquidity for institutional participants.