This is a general announcement. Products and services referred to here may not be available in your region.
Note: Binance reserves the right in its reasonable discretion to amend or cancel this feature at any time and for any reasons without prior notice.
Fellow Binancians,
Binance will introduce Smart Order Routing (SOR), an experimental trading feature for API users, to the BNB/FDUSD and BNB/TUSD spot trading pairs at 2023-09-14 07:00 (UTC).
Smart Order Routing (SOR) allows users to potentially get better prices and higher liquidity by filling an order with liquidity across other order books with the same base asset and interchangeable quote assets. Interchangeable quote assets are quote assets with fixed 1 to 1 exchange rate, such as USD stablecoins.
Please note:
As this is an experimental trading feature, Binance may pause the feature according to market conditions at any time without prior or further notice. If the SOR feature is not enabled or when the SOR feature is disabled for a trading pair, the system will return: { "code": -1013, "msg": "The SOR for this symbol is not ready."}；
This feature is only available on Limit IOC, Market Order - Amount and Limit GTC orders.
If the order using SOR is not fully fulfilled based on the eligible order books' liquidity, Limit IOC or Market Orders will immediately expire, while the remaining quantity of Limit GTC orders will be placed on the order book of the submitted symbol.
Where any discrepancy arises between the translated version of this communication and the original English version, the English version of this communication shall prevail.
Example:
The SOR feature is further explained below using the Ask side of the order books of BNB/FDUSD and BNB/TUSD spot trading pairs at 2023-09-01 00:00 (UTC) as an example:
Order Books:
According to the above order books:
1. If user A placed a regular Limit IOC BUY order for BNB/TUSD spot trading pair, setting the price at 217.0 and the quantity at 1, the order would be matched with the best SELL price in the BNB/TUSD order book, which would be 216.9. User A would spend 216.9 TUSD and receive 1 BNB.
2. If user A placed a Limit GTC BUY order using SOR for BNB/TUSD spot trading pair, setting the price at 217.0 and the quantity at 1, the order would be matched with the best SELL price across all symbols in the SOR. According to the above table, the best price would be 216.8 in the BNB/FDUSD order book. User A would spend 216.8 TUSD (not FDUSD) and receive 1 BNB. Please note: SOR orders will be executed using the quote asset of the placed order.
For More Information:
Thanks for your support!
Binance Team
2023-09-13
Trade on-the-go with Binance’s crypto trading app (iOS/Android)
Find us on
Binance reserves the right in its sole discretion to amend or cancel this announcement at any time and for any reasons without prior notice.
Disclaimer: Digital asset prices are subject to high market risk and price volatility. The value of your investment may go down or up, and you may not get back the amount invested. You are solely responsible for your investment decisions and Binance is not liable for any losses you may incur. Past performance is not a reliable predictor of future performance. You should only invest in products you are familiar with and where you understand the risks. You should carefully consider your investment experience, financial situation, investment objectives and risk tolerance and consult an independent financial adviser prior to making any investment. This material should not be construed as financial advice. For more information, see our Terms of Use and Risk Warning.
