Binance, one of many world’s main cryptocurrency exchanges, has introduced important updates to its Managed Sub-Account (MSA) performance. These modifications, efficient from July 1, 2024, alter the charge construction and introduce new restrictions on rebates and reductions, in response to Binance.
Key Highlights
The principle modifications embrace:
Exclusion of MSAs from receiving liquidity supplier program rebates and any taker program reductions.
Introduction of a brand new MSA charge based mostly on the month-to-month common asset steadiness of every MSA and the overall buying and selling quantity of all MSAs beneath a buying and selling workforce.
Restrictions in Liquidity Supplier and Taker Packages
Below the brand new guidelines, MSAs will face a number of restrictions:
Liquidity Program Restrictions:
MSAs are usually not eligible for liquidity supplier program rebates, regardless of this system tier of their buying and selling workforce’s grasp account.
If a buying and selling workforce qualifies for any maker rebates, the maker charge for his or her MSA shall be zero.
MSA buying and selling volumes will nonetheless rely in the direction of the liquidity supplier quantity requirement of the grasp account.
These restrictions apply to Binance’s Spot, Fiat, USDⓈ-Margined Futures, and COIN-Margined Futures liquidity supplier applications.
Taker Program Restrictions: MSAs won’t profit from any taker program reductions.
Managed Sub-Account Charges
A brand new charge shall be utilized to MSAs, calculated based mostly on the month-to-month common asset steadiness and whole buying and selling quantity of all MSAs beneath the buying and selling workforce.
Phrases and Situations
Binance retains the correct to find out all volumes and charge calculations at its sole discretion. The corporate could amend or terminate the MSA service for varied causes, together with compliance with legal guidelines, technical points, or power majeure occasions. Binance additionally reserves the correct to revise the phrases and circumstances at any time.
For additional particulars, customers are suggested to seek the advice of the VIP & Institutional providers web page on Binance’s web site.
Binance’s determination goals to streamline its MSA choices and improve the general effectivity of its platform. Merchants and institutional customers ought to overview these modifications fastidiously to know the impression on their operations.
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