Dear user:
Based on the updated Binance Coin Standardized fee structure, Binance will upgrade the Coin Standardized Futures Trading Marketplace program.
Starting from 12:00 on September 26, 2023 (Eastern Eighth District time), the new maker fee for currency-based contracts will be applicable to qualified users who qualify for the program. The market merchant fee structure of the new Binance Coin-margined contract is as follows:
way of participation:
Sign up to participate in the trial period: Users whose 30-day trading volume in Binance or non-Binance futures markets is no less than 100,000,000 USDT or the spot market is no less than 20,000,000 USDT equivalent can apply to participate in the 3-week trial period. After review, participants will be here During this period, you can enjoy the discount on level 3 maker orders.
Please provide proof of transaction volume and send an email to mmprogram@binance.com or directly contact your sales representative or account manager to apply for a trial period to learn detailed pending order information.
Assessment method:
Method 1: Assess the trading volume of users’ currency-based futures weekly pending orders (maker)/the proportion of total trading volume of weekly pending orders in the Binance currency-based contract market
The weekly maker order trading volume ratio (percentage) is: (coin-margined contract weekly maker order (maker) trading volume/Binance coin-margined contract weekly maker order trading volume) * 100%
At the end of each week, the trading volume ratio of each participant will be calculated, and qualified participants whose maker order volume ratio (percentage) is not less than 0.8% will receive maker order commission rebates.
Method 2: Assess the user’s weekly pending order (maker) trading volume excluding the coin-margined BTC and ETH currency pairs/the total weekly trading volume of the Binance currency-margined contract market excluding the BTC and ETH currency pairs.
The proportion (percentage) of the weekly maker trading volume excluding the currency-standard BTC and ETH pairs is: (excluding the weekly maker trading volume of the currency-standard BTC and ETH currency pairs/excluding the currency-standard BTC and ETH coins Binance Coin-margined contract weekly pending order volume) * 100%
At the end of each week, each participant's trading volume ratio will be calculated, and qualified participants whose maker order (maker) trading volume ratio (percentage) is not less than 0.4% will receive maker order (maker) commissions.
Method 3: Assess the ranking of pending orders during the market making week
Ranking based on weekly market making score (only sort participants with market making score greater than zero);
Weekly market-making score = sum of 7-day market-making scores;
Daily market making score = sum of market making for each currency pair (maker trading volume * currency pair market making qualified ratio * currency pair weight);
At the end of each week, participants will be ranked based on their weekly market maker scores, and rates will be awarded to the top 75% of participants with market making scores greater than zero and the top 75% of weekly pending orders.
Notice:
Binance will provide daily/weekly market making results to all participating users;
The market making results are determined on a weekly basis, and the time period is: Monday 08:00 to next Monday 07:59 (East Eighth District time);
Negative maker fees take effect immediately when each transaction is completed; each account's maker fee adjustment will be based on the account's market-making performance last week;
The maker fee adjustment will be updated every Tuesday at around 12:00 am (East 8th District time);
If a participant's weekly scores for three consecutive weeks do not meet the requirements, they will receive a reminder email within two weeks. If your performance does not improve after that, you will be disqualified from participating. New applications must be submitted at least one month apart;
For all newly added market makers, the same as the original rules, by default, if qualified in the first three weeks, they will enjoy negative maker fees (-0.010%) for all trading pairs.
Starting from the fourth week, you will enjoy the corresponding rate discount based on the results of the last week of the account's first three-week trial period;
For market makers who have participated in the program for more than three weeks, the fee setting will be updated every Tuesday at approximately 12:00 am (East 8th District time) based on the previous week's performance;
Binance will regularly update the market maker program rules based on how effective the current rules are for liquidity and market depth. Trading pairs may be added or reduced from time to time, and the minimum order amount and spread requirements may be adjusted. Binance will try its best to notify at least one week in advance of the adjustment; however, if special circumstances are encountered, Binance reserves the right to make changes at its own discretion. , without further notice.
Within the market maker plan, all trading volumes and related indicators will be measured by and only Binance;
The market making transaction volume does not include the maker transaction volume of the self-transaction part.
Binance reserves the right to remove accounts from the program at its sole discretion.
If there is any discrepancy between the translated version and the original English version, the English version shall prevail.
Thank you for your support of Binance!
Binance Team
September 18, 2023
