Binance, one of the world’s leading cryptocurrency exchanges, has announced significant updates to its Managed Sub-Account (MSA) functionality.

These changes, effective from July 1, 2024, alter the fee structure and introduce new restrictions on rebates and discounts, according to Binance.

The main changes include:

  • Exclusion of MSAs from receiving liquidity provider program rebates and any taker program discounts.

  • Introduction of 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 Restrictions:

  • MSAs are not eligible for liquidity provider program rebates, irrespective of the program tier of their trading team’s master account.

  • If a trading team qualifies for any maker rebates, the maker fee for their MSA will be zero.

  • MSA trading volumes will still count towards the liquidity provider volume requirement of the master account.

  • These restrictions apply to Binance’s Spot, Fiat, USDⓈ-Margined Futures, and COIN-Margined Futures liquidity provider programs.

Taker Program Restrictions:

  • MSAs will not benefit from any taker program discounts.

Managed Sub-Account Fees

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.

Terms and Conditions

Binance retains the right to determine all volumes and fee calculations at its sole discretion. The company may amend or terminate the MSA service for various reasons, including compliance with laws, technical issues, or force majeure events. 

Binance also reserves the right to revise the terms and conditions at any time. For further details, users are advised to consult the VIP & Institutional services page on Binance’s website.

Binance’s decision aims to streamline its MSA offerings and enhance the overall efficiency of its platform. Traders and institutional users should review these changes carefully to understand the impact on their operations.