{"id":172115,"date":"2023-10-11T14:51:18","date_gmt":"2023-10-11T09:21:18","guid":{"rendered":"https:\/\/dripp.zone\/news\/?p=172115"},"modified":"2023-10-11T14:51:18","modified_gmt":"2023-10-11T09:21:18","slug":"binance-rolls-out-self-trade-prevention-for-spot-and-margin-trading-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/binance-rolls-out-self-trade-prevention-for-spot-and-margin-trading-crypto-news\/","title":{"rendered":"Binance rolls out self-trade prevention for spot and margin trading – Crypto News"},"content":{"rendered":"
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Cryptocurrency exchange Binance is scaling its tools aiming to prevent unnecessary trading fees associated with unintentional self-trades.<\/p>\n

Binance will fully roll out the self-transaction prevention (STP) function for all users of spot and margin trading on Oct. 26, the firm announced<\/a> on its blog on Oct. 11.<\/p>\n

Following the integration, the \u201cexpire maker\u201d STP mode will be the default mode for all trading pairs and orders on Binance\u2019s spot and margin trading platforms.<\/p>\n

Once the STP feature is live, users will be able to check what orders have expired due to the STP function on the Binance official website, Binance App and Binance Desktop App through the transaction history page, the announcement notes.<\/p>\n

Introduced<\/a> in January 2023, Binance\u2019s STP functionality is designed to block the execution of an order if it would result in a self-trade. The function targets application programming interface (API) traders, who set up specific programs to execute trades automatically with an exchange’s trading engine.<\/p>\n

Self-trading occurs when an API user or a group of related users trade with themselves, intentionally or unintentionally. The STP enables API traders to avoid accidental self-trading transactions, helping users prevent unnecessary fees associated with such transactions.<\/p>\n

Related: <\/em><\/strong>Decentralized exchanges a magnet for crypto wash traders: Solidus Labs<\/em><\/strong><\/a><\/p>\n

\u201cWithout STP, unintentional self-trading could happen in a competitive marketplace. For example, when orders from separate trading units of the same firm, using the same unique UID, with unrelated trading strategies, happen to post orders that trade with each other,\u201d Binance said.<\/p>\n

While unintentional self-trading transactions are handled through the STP, intentional self-trades are prohibited on the exchange. \u201cWhen self-trading is done intentionally to create an illusion of trading activity, it can be considered a form of market manipulation,\u201d Binance wrote, adding:<\/p>\n

\u201cOur market surveillance team actively monitors market activity to identify intentional self-trading and any other forms of market manipulation. Binance has extensive tools to track intentional self-trading and investigate offenders.\u201d<\/p><\/blockquote>\n

As previously mentioned, Binance integrated<\/a> the STP feature for USD-margined futures on API in August 2023. \u201cThe STP function is optional and only takes effect when users enable it,\u201d Binance noted.<\/p>\n

Magazine: <\/em><\/strong>Web3 Gamer: Minecraft bans Bitcoin P2E, iPhone 15 & crypto gaming, For<\/em><\/strong><\/a><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Cryptocurrency exchange Binance is scaling its tools aiming to prevent unnecessary trading fees associated with unintentional self-trades. Binance will fully roll out the self-transaction prevention (STP) function for all users of spot and margin trading on Oct. 26, the firm announced on its blog on Oct. 11. Following the integration, the \u201cexpire maker\u201d STP mode […]<\/p>\n","protected":false},"author":2,"featured_media":172116,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[235,203,210,234,231,232,237,238,236,233],"class_list":["post-172115","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blockchain","tag-bitcoin","tag-crypto-currency","tag-elon-musk","tag-ethereum","tag-hyperledger","tag-ibm","tag-mining","tag-nodes","tag-spacex","tag-tesla"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/172115","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=172115"}],"version-history":[{"count":2,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/172115\/revisions"}],"predecessor-version":[{"id":172118,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/172115\/revisions\/172118"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/172116"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=172115"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=172115"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=172115"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}