Binance Introduces Function for API Users to Prevent Self-Trading

The service will be available to Binance's API users from Jan. 26. Users of the exchange's website and app will not be affected.

AccessTimeIconJan 25, 2023 at 9:23 a.m. UTC
Updated May 9, 2023 at 4:06 a.m. UTC
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Cryptocurrency exchange Binance has introduced a function to help its API users prevent self-trading on their platform.

The service will be available to Binance's API users from Jan. 26. Users of the exchange's website and app will not be affected.

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  • Binance added that the feature is optional and there would be no impact to users who choose not to use it.

    The Self-Trade Prevention (STP) function will block the execution of orders that would result in a self-trade, an activity in which users trade with each other in order to create the illusion of there being more activity than there actually is. Self-trading is therefore considered a form of market manipulation.

    Binance API is the exchange's service allowing other trading firm's to connect to Binance's servers, getting access to market data and enabling trades.



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    Jamie Crawley

    Jamie Crawley is a CoinDesk news reporter based in London.


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