Binance, one of the world’s leading cryptocurrency exchanges, has announced major updates to its Managed Sub-Account (MSA) functionality. These changes, which will take effect from July 1, 2024, will change the fee structure and introduce new restrictions on rebates and rebates, Binance said.
Essentials
Key changes include:
- Exclusion of MSAs from receiving program rebates for liquidity providers and any program rebates for buyers.
- Introducing a new MSA fee based on the monthly average asset balance of each MSA and the total trading volume of all MSAs under a trading team.
Restrictions in Liquidity Provider and Taker Programs
Under the new rules, MSAs will face several restrictions:
- Liquidity program limitations:
- MSAs are not eligible for program discounts from liquidity providers, regardless of the program level of their trading team’s main account.
- If a trading team is eligible for maker rebates, the maker fee for their MSA will be zero.
- MSA trading volumes still count towards the master account liquidity provider volume requirement.
- These restrictions apply to Binance’s Spot, FiatUSDⓈ-Margined Futures and COIN-Margined Futures liquidity provider programs.
- Limitations of the Taker Program: MSAs do not benefit from taker program discounts.
Managed sub-account costs
A new fee will be applied to MSAs, calculated based on the monthly average asset balance and total trading volume of all MSAs under the trading team.
Conditions
Binance reserves the right to determine all volumes and fees at its sole discretion. The Company may change or discontinue the MSA Service for a variety of reasons, including regulatory compliance, technical issues, or force majeure. Binance also reserves the right to revise the terms and conditions at any time.
For further details, users are advised to consult the website VIP and institutional services page on Binance’s website.
Binance’s decision is aimed at streamlining its MSA offering and improving the overall efficiency of its platform. Traders and institutional users should carefully review these changes to understand the impact on their businesses.
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