How OKX Options Market Makers Limit Risk: MMP Setup and Quote Recovery

OKX

03 October 2026

OKX options market maker protection (MMP) is not enabled by default. You need to contact your account manager or email This email address is being protected from spambots. You need JavaScript enabled to view it. to apply for access first. Only after it is enabled can you set parameters through the API. The core logic of MMP is: when the amount you are filled within a very short time window exceeds a threshold, the system automatically cancels all your orders marked as MMP and freezes your MMP order permission for a period of time, giving you time to reassess the market.

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What parameters to set and the unit trap

MMP configuration is done through the POST /api/v5/account/mmp-config endpoint. The core parameters you need to set include:

time_interval: the rolling time window used to calculate filled volume
frozen_interval: the freeze duration after MMP is triggered
qty_limit: the maximum number of contracts allowed to be filled within the time window

The time unit is milliseconds, not seconds. The OKX official FAQ specifically reminds users of this. If you fill in 10 out of habit, thinking it means 10 seconds, the actual window is only 10 milliseconds. MMP would be almost impossible to trigger, making the protection useless. The correct way is to fill in 10000 to represent 10 seconds.

MMP only affects orders with the MMP tag. When triggered, the system cancels these orders and does not affect regular pending orders in your account.

How to recover quotes after a trigger

After MMP is triggered, it enters a frozen state. The recovery method depends on how frozen_interval is set:

If frozen_interval is set to 0, the freeze will not be automatically lifted. You must reset it manually. OKX provides the POST /api/v5/account/mmp-reset endpoint to reset the MMP status of a specific options instrument family.

If frozen_interval is greater than 0, the system automatically lifts the freeze after that time period passes, and you can place orders again.

Before resetting MMP, there is an easy-to-overlook check: confirm that no orders marked as MMP are still active. OKX's API documentation and similar products such as Bullish both point out that resetting the configuration while MMP orders are still active may cause orders to lose their intended margin benefits or be processed unexpectedly. The safe approach is to cancel all MMP orders first, then perform the reset.

Working with delta limits

OKX's MMP parameter list mainly exposes qty_limit at present. Platforms like Bullish also offer delta_limit, meaning MMP is also triggered when net delta exposure exceeds a threshold. If your market making strategy runs options across multiple strike prices and expiration dates at the same time, a simple quantity limit may not be enough: a delta-neutral portfolio can be filled many contracts while net risk exposure remains manageable. Conversely, a small number of fills can also create significant directional exposure.

Whether OKX MMP supports delta_limit should be confirmed based on the interface documentation shown when you actually get access. If only qty_limit is available, you need to monitor net delta at the strategy level yourself and control risk through active order cancellation or hedging.