Self-Trade Prevention (STP) is a mechanism used by trading platforms to prevent a user's orders from matching with their own. This feature helps reduce unnecessary trading fees from self-trades and prevents traders from artificially inflating trading volume, ensuring market fairness and transparency.
How the STP Mechanism Works
The STP mechanism detects orders from the same user (same UID) or their sub-accounts and blocks them from matching with each other. On the BitTap platform, STP applies not only to the main account but also to orders between parent and sub-accounts and among sub-accounts themselves, ensuring that a user’s different orders do not unintentionally match.
System Response When STP is Triggered
When an order triggers the STP mechanism, the platform may take the following actions depending on the selected mode:
- none Mode: Orders are not affected by STP, and the system does not check the UID, allowing trades to proceed normally.
- cancel_taker Mode: Upon a self-trade, the taker order is canceled, while the maker order remains.
- cancel_maker Mode: Upon a self-trade, the maker order is canceled, while the taker order remains.
- cancel_both Mode: Both taker and maker orders are canceled upon a self-trade.
Setting STP Mode
When placing an order or batch order, users can set the STP mode through parameters. On the BitTap platform, STP is available for spot trading, futures trading (including USDT futures, USDC futures, and coin-margined futures), and margin trading (both isolated and cross margin).
Order Types Supported by STP
The STP mechanism applies to orders with the Time In Force (TIF) strategy set to GTC (Good 'Til Canceled) or IOC (Immediate Or Cancel), including:
- Limit Orders
- Market Orders
- Trigger Orders
- Stop-Loss/Take-Profit Orders
Note: STP does not apply to orders set as FOK (Fill Or Kill).
Can STP Settings Be Modified?
STP settings cannot be modified in an order amendment. The original STP mode is inherited in the modified order and cannot be changed.
Ensuring Fair and Transparent Trading
Through the STP mechanism, BitTap provides users with a more transparent and compliant trading environment, ensuring fair market operations while reducing costs and risks associated with self-trading.