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These release notes list changes to all Coinbase International Exchange products.

2026-Jun-11

Underlying Security Type

Introducing new underlying security type values for pre-IPO instruments, which may be sent in instrument definition messages across FIX Market Data APIs.
FIX API, Market Data
SecurityDefinition (35=d) & SecurityList (35=y)
The following new values may now be sent in UnderlyingSecurityType (Tag 310):

2026-Jun-03

Underlying Security Type

Introducing new underlying security type values for pre-IPO instruments, which may be sent in instrument definition messages across REST and WebSocket Market Data APIs.
REST API, WebSocket Feed
The following new values may now be sent in the underlying_type field: The above field is sent in:
  1. REST API’s List instruments endpoint
  2. REST API’s Get instrument details endpoint
  3. WebSocket Feed’s INSTRUMENTS Channel

2026-Apr-22

Underlying Security Type

Introducing new underlying security type values for commodity instruments, which may be sent in instrument definition messages across REST, WebSocket, and FIX Market Data APIs.
REST API, WebSocket Feed
The following new values may now be sent in the underlying_type field: The above field is sent in:
  1. REST API’s List instruments endpoint
  2. REST API’s Get instrument details endpoint
  3. WebSocket Feed’s INSTRUMENTS Channel
FIX API, Market Data
SecurityDefinition (35=d) & SecurityList (35=y)
The following new values may now be sent in UnderlyingSecurityType (Tag 310):

2026-Mar-19

Underlying Security Type

Introducing new underlying security type values which may be sent in instrument definition messages across REST, WebSocket, and FIX Market Data APIs. WebSocket and FIX Market Data APIs will also begin publishing underlying_type and UnderlyingSecurityType (Tag 310).
REST API, WebSocket Feed
The following new values may now be sent in the underlying_type field: The above field is sent in:
  1. REST API’s List instruments endpoint
  2. REST API’s Get instrument details endpoint
  3. WebSocket Feed’s INSTRUMENTS Channel
FIX API, Market Data
SecurityDefinition (35=d) & SecurityList (35=y)
The following new values may now be sent in UnderlyingSecurityType (Tag 310):

2026-FEB-19

FIX Market Data: MarketDataIncrementalRefresh MDEntry’s where MDEntryType=BID|OFFER: New LastFragment and MDEntryTime fields

Two new fields will be added to MarketDataIncrementalRefresh messages which contain MDEntry(s) (repeating group component whose count is published as NoMDEntries/268) whose MDEntryType/269 is BID/0 or ASK/1. This does not require clients to modify their FIX engine behavior as both fields merely add additional metadata without any change to the underlying data sent.
  1. LastFragment/893
    • BOOLEAN type. Not required. Either set to YES/Y or not populated. Set on MarketDataIncrementalRefresh itself rather than in MDEntry components.
    • If set to YES/Y, the MDEntrys in the message are the final updates in a batch (please see the MDEntryType=BID|OFFER Batch Fragmentation sub-section below).
  2. MDEntryTime/273
    • UTCTIMESTAMP type. Not required. Only and always set on MDEntrys components where MDEntryType=BID|OFFER. Millisecond precision.
    • Contains the time the order event which triggered the price level change occurred. This time is different from TransactTime/60, which contains a time equal or higher than the order event time.
MDEntryType=BID|OFFER Batch Fragmentation
MarketDataIncrementalRefresh messages containing these MDEntryTypes for L2 data (all price levels) batch price level updates for performance reasons, meaning multiple price level updates are queued together before they are sent together in a batch. To prevent any single MarketDataIncrementalRefresh from becoming to large, a batch may be sent in multiple MarketDataIncrementalRefreshs (“fragments”). Clients may queue (but not process) MDEntryType=BID|OFFERs for MarketDataIncrementalRefreshs without LastFragment populated. On receipt of a MarketDataIncrementalRefresh with LastFragment=Y, clients may then queue the included MDEntryType=BID|OFFERs and then process all queued MDEntryType=BID|OFFERs for the Symbol which all the included MDEntrys are set to. This permits clients to process batches altogether at once rather than individual updates.

2026-Jan-22

Position Transfer Metadata

We are adding a new position_price field to the Get transfers and Get transfer REST API endpoints to indicate the price at which a position transfer was made.

2025-DEC-19

Cursor-Based Pagination for Transfers

Added optional cursor-based pagination support to the Get Transfers endpoint. This provides stable, consistent results when paginating through transfers, preventing duplicate results that can occur with offset-based pagination when new transfers are inserted between requests. When to use cursor vs offset pagination:
  • Use cursor-based pagination to avoid duplicate results when new transfers are created between paginated requests (though slightly slower than offset pagination)
  • Use offset-based pagination for better performance when consistency across pages is not critical
  • REST API
    • New optional query parameters for Get Transfers:
      • pagination_type: Specifies pagination method (OFFSET or CURSOR)
      • search_after_time: Timestamp for cursor-based pagination
      • search_after_idem: Idempotency key for cursor-based pagination
    • New response fields in pagination object:
      • search_after_time: Echoes the timestamp used in the current request
      • search_after_idem: Echoes the idempotency key used in the current request

2025-NOV-20

Position Transfer Metadata

Adding position transfer metadata in the REST API Get transfers and Get transfer endpoints. We are adding new fields position_from_portfolio and position_to_portfolio to denote the portfolios sending and receiving the transferred position. A position transfer action generates two transfer events: one for the position_from_portfolio and one for the position_to_portfolio. Both events share the same position_transfer_reference_id, which can be used to link them together. The field instrument_id and instrument_symbol will show the transferred position instrument, and position_size and position_side will show the transferred position size and side. The following is an example transfer returned from the above REST endpoints with explanation on the fields.

2025-NOV-18

Spot Order Routing to Coinbase Exchange: Addendum for REST API’s List instruments, Get instrument details, Get quote per instrument endpoints

The following only applies for spot instruments configured to route spot orders to Coinbase Exchange.
List instruments, Get instrument details
notional_24hr, avg_daily_notional, avg_30day_notional, quote → limit_up, and quote → limit_down will be temporarily set to 0. This value is a placeholder and does not represent actual data. These fields will be deprecated and no longer populated in a future release. The following field will be added for all instruments:
Get quote per instrument
limit_up, and limit_down will be temporarily set to 0. This value is a placeholder and does not represent actual data. These fields will be deprecated and no longer populated in a future release.

2025-NOV-13

Spot Order Routing to Coinbase Exchange

Introducing support to route spot orders to rest and match on equivalent Coinbase Exchange books. Unless otherwise noted, the following only applies for spot instruments configured to route orders to Coinbase Exchange, orders routed to Coinbase Exchange, or fills on orders routed to Coinbase Exchange. Where noted, “forwarded” properties indicate that Coinbase International Exchange will publish data from Coinbase Exchange. For example, in the REST API’s List Instruments endpoint, for spot instruments configured to route orders to Coinbase Exchange, the qty_24hr property is forwarded, meaning it will represent the 24 hour trading volume for the instrument on Coinbase Exchange rather than on Coinbase International Exchange. For data returned by Coinbase Exchange, please refer to the Coinbase Exchange API documentation.
REST API
List instruments, Get instrument details
The following only applies for spot instruments configured to route spot orders to Coinbase Exchange.
Get quote per instrument
The following only applies for spot instruments configured to route spot orders to Coinbase Exchange.
Get daily trading volumes
The following only applies for spot instruments configured to route spot orders to Coinbase Exchange.
Get aggregated candles data per instrument
Not supported for spot instruments configured to route orders to Coinbase Exchange.
Create order, Get order details, Cancel order, Cancel orders
The following only applies for orders routed to Coinbase Exchange.
List fills by portfolios
The following only applies for fills executed on Coinbase Exchange.
FIX API, Order Entry & Drop Copy
ExecutionReport (35=8)
The following only applies for orders routed to Coinbase Exchange. A few OrdRejReason values previously included in the Upcoming Changes page will not be added because they already exist in the XML spec.
OrderCancelReject (35=9)
The following only applies for spot orders routed to Coinbase Exchange. A few OrdRejReason values previously included in the Upcoming Changes page will not be added because they already exist in the XML spec.
PreFillReport (35=F8)
Not sent for spot orders routed to Coinbase Exchange.
FIX API, Market Data
For spot instruments configured to route spot orders to Coinbase Exchange, all values represent the unless otherwise noted,
SecurityList (35=y) & SecurityDefinition (35=d)
The following only applies for spot instruments configured to route spot orders to Coinbase Exchange.
MarketDataSnapshotFullRefresh (35=W) & MarketDataIncrementalRefresh (35=X)
The following only applies for spot instruments configured to route spot orders to Coinbase Exchange.
WebSocket Feed
INSTRUMENTS Channel
The following only applies for spot instruments configured to route spot orders to Coinbase Exchange. Response
CANDLES Channel
Not supported for spot instruments configured to route orders to Coinbase Exchange.

2025-OCT-23

Instrument Definition Updates

2025-OCT-16

Address Book

  • REST API

2025-AUG-14

Users can now query position transfers with the new transfer type POSITION_TRANSFER.
  • REST API
    • New transfer type in Get Transfers endpoint:
      • New supported type: POSITION_TRANSFER

2025-AUG-06

Adding two new fields for external collateral users.

2025-JUN-23

Two-Sided Position Limits

Introducing two-sided position limits for perpetual futures position limit accounting. In this model, long position notional and short position notional values are tracked separately, and the maximum value across the account is the effective value when determining limit breach
  • REST API
    • New values in Position response for Get Portfolio Position and List Portfolio Positions:
      • open_position_notional: max(long_open_position_notional, short_open_position_notional)
      • long_open_position_notional
      • short_open_position_notional

Disable Loan Overdraft Protection on a Portfolio

We are adding support to disable loan overdraft protection on a per-portfolio basis. Overdraft loans will not be issued during settlement or any loan acquisition processes that are not initiated by the user.
  • REST API
    • New parameter to enable/disable overdraft protection to Portfolio Patch endpoint:
      • disable_overdraft_protection

2025-APR-24

Margin Call

Introducing margin call functionality for underwritten clients.

TP/SL Order Replace

Added support for replacing TP/SL orders:

Higher FIX API Key-level Rate Limits

We have increased FIX API key-level rate limits:
  • Increase FIX messages per second per API key from 400 to 800.
  • Increase FIX disconnect threshold messages per second per API key from 700 to 1000.

2025-MAR-27

2025-MAR-13

Introducing 2 new endpoints to get portfolio transfer limits.

2025-FEB-27

Added transfer activity to the Get Transfers endpoint representing automatic portfolio to portfolio balance transfers made to cover losses during liquidation.
  • REST API
    • Added new transfer activity to the Get Transfers endpoint
      • New supported types: LIQUIDATION_EQUITY_CLAWBACK

2025-FEB-13

Introducing 3 new endpoints to get portfolio open position notional limits. Adding Real Time Settlement Transfer events to the Get Transfers endpoint.
  • REST API
    • Add real time settlement transfers to the Get Transfers endpoint
      • New supported types: REAL_TIME_SETTLEMENT

2025-FEB-06

Session CancelOnDisconnect Default Behavior

The default value for both CancelOrdersOnDisconnect and CancelOrdersOnInternalDisconnect in the FIX Logon message changed from N (No cancel on disconnect) to Y (Only cancels orders from this session). CancelOrdersOnDisconnect (Tag 8013)
  • Old Default: N (No cancel on disconnect)
  • New Default: Y (Only cancels orders from this session)
CancelOrdersOnInternalDisconnect (Tag 8014)
  • Old Default: N (No cancel on internal disconnect)
  • New Default: Y (Only cancels orders from this session)

2025-JAN-16

Replacing quantity risk limits with notional ones:
  • REST API
  • FIX API
    • New PositionLimit field (tag 970) in Market Data. This a new field is on the SecurityDefinition message
    • The field MaxTradeVol will be deprecated in the future changes.
  • Order rejection uses UBO_HIGH_LEVERAGE_NOTIONAL_BREACHED instead of UBO_HIGH_LEVERAGE_QUANTITY_BREACHED.
  • Updated the FIX dictionary download link
Adding new instrument trading state EXTERNAL:
  • EXTERNAL Trading State
    • Instruments that have an EXTERNAL trading status are not currently traded on this market. This is used to derive collateral value of instruments that does not have a quoted USDC price.
  • REST API
  • FIX API
  • WEB MD API
    • Added trading_state value external to the INSTRUMENTS Channel response.
    • WEB MD API will not subscribe to MDA candles data for external instruments
    • WEB MD API will reject client subscription requests to all channels except RISK and INSTRUMENT for external instruments
  • Updated cb_intx_fix_dictionaries_latest.tar.gz for download

2024-DEC-18

  • REST API
    • Populated txn_hash for both on-chain deposits and on-chain withdrawals in the responses for Get transfer and Get transfers.

2024-DEC-13

  • REST API
    • Added instrument_symbol and txn_hash field to the responses for Get transfer and Get transfers respectively.
      • txn_hash will be present for on-chain deposit transfers
      • instrument_symbol will be present for funding transfers

2024-NOV-25

Added support for Exchange Loans
  • REST API
    • Added Update Loan endpoint to acquire/repay existing loans
    • Added Preview Loan endpoint to preview the portfolio state after acquiring a loan
    • Added Loan Availability endpoint to retrieve the maximum loan amount available for the specified asset
    • Added Get Portfolio Loans endpoint to view all loans for a portfolio
    • Added Get Portfolio Loan endpoint to view the existing loan state for the specified asset
    • Changes to fields in the Balance response object
      • Added collateral_backed_overdraft_loan amount (quantity) of outstanding loan taken due to overdrafting USDC on a debit
      • Added user_requested_loan amount (quantity) of outstanding loan requested by the user
      • Changed loan to be the total loan amount (quantity) outstanding. Sum of collateral_backed_overdraft_loan and user_requested_loan
      • Added loan_initial_margin_contribution the amount of initial margin required to hold the existing loan
    • Changes to the fields in the Asset response object
      • Added loan_initial_margin the percentage of initial margin requirement for taking a loan on the asset
      • Added max_loan_leverage the maximum amount leverage that can be used when taking a loan on the asset
    • Added loan activity to the Get Transfers endpoint
      • New supported types: LOAN_ACQUIRE, LOAN_REPAY, LOAN_INTEREST_CHARGE, and ALL_LOANS
      • The ALL_LOANS type will include all transfers related to acquire, repay, and interest charge activity

2024-NOV-21

Added new text field to denote cancel reason in get order endpoint

2024-NOV-12

Added new REST API endpoints for retrieving index data:

2024-OCT-24

API changes for TWAP orders:

2024-SEP-12

Adding new FIX field to instrument definition:

2024-SEP-10

Added new instrument trading state DELISTED:

2024-SEP-03

Adding new FIX messages for the PreFills API. The new FIX messages are:

2024-AUG-20

Adding new field underlying_type which represents the underlying asset type. The enhanced REST API endpoints are:

2024-JUL-30

Renamed fill_source to source in REST API endpoints:

2024-JUL-22

Added fill_source (LIQUIDATION, CLIENT_ORDER) to REST API endpoints:

2024-JUL-11

Updated and added rate limits:
  • Updated REST requests per second per API Key from 100 to 40
  • Updated Maximum API Keys per account to:
    • Maximum trading API Keys per account: 30
    • Maximum non-trading API Keys per account: 20
  • Added Maximum connection attempts every 30 seconds: 10

2024-JUN-17

Added support for Pre-Launch Markets. Pre-Launch Markets let users trade perpetual futures contracts on tokens that have not launched yet. When an underlying token is launched on an applicable spot exchange, the instrument converts to a standard perpetual contract. Learn more in our Help Center.

2024-JUN-06

2024-MAY-23

2024-MAY-13

2024-MAY-02

2024-APR-25

Added the following REST endpoints:

2024-APR-17

Added portfolio Auto Margin:
  • Portfolios automatically post the collateral required to exceed high leverage limits on a per-instrument basis.
  • Portfolio margin requirements are calculated based on the newly introduced default initial margin instrument field.
  • Users can opt-in to the Auto Margin feature on a per-portfolio basis.

Instrument Definitions

Added the following instrument definitions for Auto Margin:

Portfolio Endpoints

2024-APR-02

Updated REST and FIX API to support TP/SL orders:

2024-MAR-27

Added support for portfolio cross collateral:

2024-MAR-26

Added new REST API for position transfer — requires trade permission:

2024-MAR-19

Added new REST APIs for fee rate tiers:

2024-FEB-27

2024-FEB-22

2024-FEB-06

2024-JAN-30

2024-JAN-23

2024-JAN-15

2024-JAN-11

2023-DEC-13

2023-DEC-12

2023-DEC-05

2023-NOV-28

  • Added portfolio_initial_margin_notional, portfolio_current_margin_notional, portfolio_maintenance_margin_notional and portfolio_close_out_margin_notional to Get portfolio summary and Get portfolio details REST endpoints.

2023-NOV-27

2023-NOV-24

2023-NOV-09

2023-NOV-08

2023-OCT-30

2023-OCT-19

2023-OCT-18

2023-SEP-28

  • Added new endpoint /transfers/withdraw: Withdraw to crypto address
  • Multi-chain support for USDC transfers on Base/Optimism networks

2023-JUL-21

2023-JUL-11

2023-JUN-01

WebSocket
REST API
INTX UI
  • Publish 24h volume on Markets page
  • Fixed issue displaying “Short” positions

2023-MAY-19

Improved overall system performance and stability. Features include:

2023-MAY-02

  • Public preview of the Coinbase International Exchange FIX and REST APIS.