Binance will reprice stock-token collateral even when Wall Street is closed

Binance will update the collateral value of bStocks, tokenized securities tied to US-listed equities, around the clock from Oct. 24 at 00:00 UTC. Eligible margin accounts could lose some of their collateral cushion while US stock markets are closed.

The exchange’s Oct. 20 notice schedules continuous updates to the bStocks collateral index. During non-trading periods, including weekends, holidays and daily maintenance windows, that index will reference Binance trading prices when external market data is unavailable.

bStocks are certificates providing equity price exposure, without direct ownership of the underlying shares or shareholder rights.

Binance uses the index to value bStocks collateral before applying the ratios that determine how much value it recognizes. If that valuation falls while the rest of an account stays unchanged, the account has less support for its exposures and less room before reaching a liquidation threshold.

How off-hours bStocks prices will work

Under Binance’s updated collateral-index methodology, the off-hours calculation, used when external market data is unavailable, takes an orderbook Impact Mid Price smoothed by an exponentially weighted moving average, or EWMA. In plain terms, the price used for collateral is smoothed rather than following every immediate orderbook move.

A dedicated movement cap will also apply to the collateral index in this mode. Its numerical value is unspecified in the notice and linked methodology, and Binance reserves the right to change it.

When the index leaves the off-hours mode, Binance will blend the previous and new calculations gradually to limit abrupt jumps.

Binance explicitly warns that an account’s Margin Level or Unified Maintenance Margin Ratio, known as uniMMR, may move during non-trading hours. A decline in collateral value can reduce those measures.

Select bStocks qualify as collateral in Cross Margin, Portfolio Margin and Portfolio Margin Pro, subject to eligibility and permitted-jurisdiction rules. VIP 0–2 users must pass a suitability questionnaire. Those holding bStocks in Cross Margin or Portfolio Margin can also face additional trading restrictions when specified risk conditions are met.

Those restrictions are separate from liquidation: the FAQ says they do not themselves forcibly close existing positions. Collateral ratios can also vary by token and change over time.

Binance’s collateral FAQ says forced liquidation may occur if an account breaches its liquidation threshold.