Dear BIT users,
We are pleased to announce that the BIT Market Maker Protection (MMP) function now supports USD-margined derivatives. We sincerely welcome institutional and market maker clients to apply for the experience.
What is market maker protection (MMP) ?
Market maker protection (MMP) is a mechanism of protecting liquidity providers against bursts of order filling in a short time. Once the total traded amount of an account in a short time has exceeded the configured limits, MMP will be triggered for the account. When MMP is triggered, existing MMP orders (orders marked as MMP) of the account will be automatically cancelled by the trade engine, and new MMP orders of the account will be rejected in a coming period (called a frozen period). The account owner can make use of this period to re-evaluate the situation, and revise the quotes.
Read more about market maker protection.
Market Maker Protection API doc
How to enable market maker protection?
Please contact the BIT client manager for activating or deactivating MMP for an account.
BIT will continue to provide you with quality services.
BIT Team
Nov 17, 2022
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