#Binance to Extend the Self-Trade Prevention (STP) Function to All Binance Spot and Margin Users
#Binance , the world's largest cryptocurrency exchange, has announced that it will be making the Self-Trade Prevention (STP) function mandatory for all Binance Spot and Margin users on October 26, 2023.
The STP function is a risk management tool that helps to protect users from self-trading, which can be used to manipulate market prices. Self-trading occurs when a user places both a buy order and a sell order for the same asset at the same time. This can be done to create the illusion of liquidity or to drive up the price of an asset.
The STP function works by automatically canceling any orders that would result in a self-trade. This helps to ensure that the market remains fair and orderly.
Binance's decision to make the STP function mandatory for all users is a positive step for the cryptocurrency industry. It shows that Binance is committed to protecting its users from fraud and manipulation.
