Binance will be making the Self-Trade Prevention (STP) function mandatory for all users on Binance Futures from December 10, 2024.
With this update, the self-trade prevention function will be available to all users across Spot, Margin, and Futures trading on the Binance platform.
The system update is scheduled to begin at 06:00 (UTC) on December 10, 2024 and is expected to last for 24 hours to allow for a smooth transition. During this period, API users may experience intermittent disconnections of the Futures WebSocket API. In case of disconnection, users are advised to re-establish the connection to the Futures WebSocket API server.
The STP function prevents API users from unintentional self-trades, ensuring compliance and the integrity of data, while saving API users unnecessary trading fees. It automatically blocks the execution of orders that will result in self-trades. A total of three STP modes are available, and the default STP mode enabled for all orders on Binance Futures is “EXPIRE_MAKER”.
Self Trade Prevention (STP) is a mechanism employed by trading platforms to prevent users from inadvertently trading against themselves. This situation, known as self-trading, occurs when a user’s own orders match each other on the order book. STP is particularly important in maintaining a fair and transparent trading environment, as it helps to prevent manipulation of market prices and ensures that trading activity accurately reflects genuine market interest.
At Binance, Self Trade Prevention (STP) prevents orders of users, or the user’s “tradeGroupId”, to match against their own.
