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In the fast-paced world of cryptocurrency trading, efficiency and trading integrity are crucial. That's why Bybit has introduced the Self Match Prevention (SMP) feature to revolutionize your trading experience. In this article, we will explore the concept of self-trading, highlight the benefits of Bybit's SMP, and reveal who can benefit the most from this innovative tool.
Have you ever unintentionally matched your own trades, becoming both the buyer and seller? This is shown as self-trading, which can disrupt the market and hinder your trading strategies.
Our SMP feature is designed to maintain fairness and transparency in the marketplace. Say goodbye to distorted market data and hello to a seamless trading experience.
With the Self Match Prevention function, you have control over how your orders are executed. Whether you want to cancel the maker order, taker order, or both when a match occurs, SMP allows you to customize your trading experience.
SMP Trade Group is a game-changer for institutions. This advanced feature allows you to manage groups of UIDs, ensuring smooth execution of orders. When any UID in the group places an order and the SMP execution policy is selected, the SMP feature will be triggered when the maker order under any UID in the group is matched.
Here's what you need to know:
- Each UID can only be part of one SMP Trade Group.
- When a main-account joins an SMP Trade Group, all its sub-accounts automatically join the group as well.
- New sub-accounts created under a main-account will default to the same SMP Trade Group, but they can be manually reassigned if needed.
- Changes in the relationship between SMP Trade Group and UIDs only impact newly placed orders, not pre-existing ones.
- To prevent unexpected executions, we recommend cancelling all pre-existing orders when there are SMP Trade Group changes.
The SMP Trade Group takes precedence in SMP execution, ensuring seamless matching within the group. Individual UIDs are only considered when there is no SMP Trade Group on either side of the trade.
Once an order enters the orderbook, its SMP flag becomes irrelevant. The system follows the tag on the latter order for smooth execution. So, rest assured that your orders will be executed as desired.
Let's look at a couple of scenarios for example:
1. UID1 joins SMP Trade Group A, places Order1.
2. UID1 is removed from SMP Trade Group A, but Order1 remains active.
- If UID1 joins SMP Trade Group B and places Order2, the orders will be executed since they belong to different groups.
- If UID1 doesn't join any other groups after being removed from SMP Trade Group A and places Order2, SMP will be triggered at the UID level because Order2 was placed without a group.
Remember, with SMP, you're in control of your order execution. Start utilizing this feature today!