en
Back to the list

Binance Introduces Function for API Users to Prevent Self Trading

Exchange

www.coindesk.com 25 January 2023 10:30, UTC
  
Reading time: ~2 m

Cryptocurrency exchange Binance has introduced a new function to help its API users prevent self-trading on their platform.

The service will be available to Binance's API users from Jan. 26. Users of the exchange's website and app will not be affected.

Binance added that the feature is optional and there would be no impact to users who choose not to use it.

The Self-Trade Prevention (STP) function will block the execution of orders that would result in a self-trade, an activity in which users trade with each other in order to create the illusion of there being more activity than there actually is. Self trading is therefore considered a form of market manipulation.

Binance API is the exchange's service allowing other trading firm's to connect to Binance's servers, getting access to market data and enabling trades.

Read more: Binance Mistakenly Mixed Crypto Exchange's Customer Funds With B-Token Collateral: Bloomberg


Learn more about Consensus 2023, CoinDesk’s longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.



   Source
Back to the list