Blockchain
Binance Introduces New Fee Structure for Managed Subaccounts (MSA)
Binance, one of the world’s leading cryptocurrency exchanges, has announced significant updates to its managed subaccount (MSA) functionality. According to Binance, these changes, effective July 1, 2024, alter the fee structure and introduce new restrictions on rebates and discounts.
Highlights
Major changes include:
- Exclusion of MSAs from receiving liquidity provider program discounts and any acquirer program discounts.
- Introduction of a new MSA fee based on the average monthly asset balance of each MSA and the total trading volume of all MSAs forming part of a trading team.
Restrictions in the Liquidity Provider and Liquidity Buyer programs
Under the new rules, MSAs will face several restrictions:
- Liquidity Program Restrictions:
- MSAs are not eligible for liquidity provider program discounts, regardless of the program tier of their trading team’s primary account.
- If a sales team qualifies for any manufacturer discounts, the manufacturer commission for their MSA will be zero.
- MSA trading volumes will continue to count towards the master account liquidity provider’s volume requirement.
- These restrictions apply to Binance Spot, FiatUSDⓈ margin futures and COIN margin futures liquidity provision programs.
- Limitations of the Taker program: MSAs will not benefit from any taker program discounts.
Fees for managed subaccounts
A new fee will be applied to MSAs, calculated based on the average monthly asset balance and total trading volume of all MSAs in the trading team.
Terms and conditions
Binance reserves the right to determine all volumes and fee calculations in its sole discretion. Company may modify or discontinue the MSA Service for various reasons, including compliance with laws, technical problems, or force majeure events. Binance also reserves the right to change the terms and conditions at any time.
For further details, users are advised to consult the VIP and institutional services page on the Binance website.
Binance’s decision aims to streamline its MSA offerings and improve the overall efficiency of its platform. Merchants and institutional users should carefully review these changes to understand the impact on their operations.
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