This is a general advertisement and the products and services referred to may not be available in your area.

Note: Binance reserves the right to modify or cancel this feature at its sole discretion at any time and for any reason without prior notice.

Hello dear Binance members,

Binance will roll out the Smart Order Router (SOR), an experimental trading feature for API users, on BNB/FDUSD and BNB/TUSD double spot trading on 09-14-2023 at 07:00 (UTC).

The Smart Order Router (SOR) enables users to get better prices and higher liquidity by executing orders using liquidity across other order lists with the same underlying asset and swapped pricing assets. Swapped pricing assets are pricing assets with a 1-to-1 exchange rate, such as stablecoins to the US dollar.

Please note:

  • Since this feature is an experimental trading feature, Binance may temporarily discontinue the feature depending on market conditions at any time without prior or subsequent notice. If the SOR feature is not enabled or when the SOR feature is disabled for any pair trade, the system will give the following response: { "code": -1013, "msg": "The SOR for this symbol is not ready."};

  • This feature is available on Instant Execute or Cancel Limit (IOC) orders and Market Orders - Good to Cancel (GTC) orders for the amount and limit.

  • If an order using the Intelligent Order Router (SOR) is not fully executed based on the liquidity of the list of eligible orders, Instant Execution, Limit Cancel (IOC) orders, or Market orders will expire immediately, while the remaining amount of valid limit orders will be placed until cancellation. (GTC) in the list of submitted token requests.

  • In the event of a conflict between the translated version and the original English version, the English version shall prevail.

Example:

The Smart Order Router (SOR) feature is explained below in more detail using the order side of the order list for double spot trading BNB/FDUSD and BNB/TUSD on 09-01-2023 at 00:00 (UTC) as an example:

Order list:

BNB/FDUSD (opening price on 09-01-2023 at 00:00 UTC)

BNB/TUSD (opening price on 09-01-2023 at 00:00 UTC)

Price: 217.0

Quantity: 3

Price: 217.1

Quantity: 2

Price: 216.8

Quantity: 3

Price: 216.9

Quantity: 2

According to the order lists above:

1. If User A places an IOC limit order to buy BNB/TUSD Double Spot, and sets the price at 217.0 and the quantity is 1, the price will be matched with the best sell price in the BNB/TUSD order list, which will be 216.9 . So User A can spend 216.9 TUSD and get 1 BNB.

2. If User A places a GTC limit order to buy using the Smart Order Router (SOR) on the BNB/TUSD double spot trade, and sets the price at 217.0 and the quantity is 1, the price will be matched with the best selling price across all Tokens in the Smart Request Router (SOR). According to the table above, the best price will be 216.8 in the BNB/FDUSD double order list. So User A can spend 216.8 TUSD (not FDUSD) and get 1 BNB. Please note: Smart Order Router (SOR) orders are executed using the pricing asset of the order placed.

for more information:

  • Frequently asked questions about the Smart Request Router (SOR)

  • Instant Trading API Documentation

thanks for your support!

Binance Team

2023-09-13