HTX to Adjust Trading Pairs' Weight Factors for Market Makers
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Dear HTX Market Makers:
HTX will adjust the performance assessment factors for market makers starting at 16:00:00 on December 31, 2022 (UTC).
The weight factors for spot trading pairs are listed below. Pairs not listed here shall have a weight factor of 1.
| Pairs |
Weight Factor |
| BTC/USDT |
1.0 |
| ETH/USDT |
1.0 |
| TRX/USDT |
6.6 |
| HT/USDT |
6.6 |
| BTT/USDT |
6.6 |
| XRP/USDT |
4.5 |
| BCH/USDT |
4.5 |
| LTC/USDT |
4.5 |
| MATIC/USDT |
4.5 |
| ADA/USDT |
4.5 |
| AVAX/USDT |
4.5 |
| SOL/USDT |
4.5 |
| ATOM/USDT |
4.5 |
| DOT/USDT |
4.5 |
| LINK/USDT |
4.5 |
| ETC/USDT |
4.5 |
| Other USDT pairs |
2.0 |
| Stablecoin pairs |
1.0 |
| USDD pairs, HT pairs, USDC pairs |
1.5 |
| Other BTC and ETH pairs, other symbols |
1.2 |
These adjusted factors apply to futures trading of USDT-M perpetual, USDT-M delivery, Coin-M perpetual, and Coin-M delivery.
| Symbol |
Weight Factor |
Factor (Bid-Ask Spread = 0.1%) |
Factor (Bid-Ask Spread = 0.3%) |
Factor (Bid-Ask Spread = 0.5%) |
| TRX |
8.00 |
3.98 |
1.72 |
2.20 |
| HT |
8.00 |
3.98 |
1.72 |
2.20 |
| BTC |
1.00 |
3.06 |
3.12 |
3.44 |
| ETH |
1.00 |
3.41 |
2.43 |
2.91 |
| XRP |
1.00 |
3.62 |
2.53 |
2.09 |
| SOL |
3.20 |
8.28 |
4.95 |
4.27 |
| MATIC |
3.20 |
5.50 |
3.84 |
2.70 |
| LTC |
3.20 |
2.98 |
2.16 |
1.92 |
| LINK |
3.20 |
4.86 |
3.01 |
2.57 |
| ETC |
3.20 |
4.59 |
3.65 |
1.96 |
| DOT |
3.20 |
10.95 |
4.75 |
2.29 |
| DOGE |
3.20 |
2.53 |
1.61 |
0.95 |
| BCH |
3.20 |
5.02 |
2.44 |
1.99 |
| AVAX |
3.20 |
4.89 |
6.07 |
5.31 |
| ATOM |
3.20 |
3.24 |
3.99 |
2.28 |
| ADA |
3.20 |
6.42 |
3.63 |
2.30 |
| Other |
1.40 |
3.20 |
2.76 |
5.94 |
Note: Bid-Ask Spread = (sell 1- buy 1) / [(sell 1 + buy 1) / 2]
*The new weight factors (see the following table) for assessment will take effect from 16:00:00 UTC on December 31, 2022.
Tiered Market Maker Fee Rate:
| Tier |
Spot Maker Fee Rate |
USDT-M Maker Fee Rate |
Coin-M Maker Fee Rate |
Taker Fee Rate |
| Tier S |
-0.010% |
-0.015% |
-0.020% |
The taker fee rate is based on the Prime level |
| Tier 1 |
-0.005% |
-0.010% |
-0.015% |
|
| Tier 2 |
-0.0025% |
-0.005% |
-0.010% |
Market Maker Assessment Rules:
For Spot Makers:
The better of the following 2 indicators of a market maker will be used for its performance assessment and determine the maintenance, upgrade, or downgrade of its tier level.
| Tier |
Weighted Maker Trading Volume (Percentile rank) |
Or |
Maker Trading Volume One-way share against platform total |
| Tier S |
[0,85%] Unchanged [85%, 100%) Downgrade |
/ |
≥1.5% |
| Tier 1 |
[90, 100%] Upgrade [10%, 80%) Maintenance [80%, 100%) Downgrade |
/ |
[1%,1.5%) |
| Tier 2 |
[0, 10%] Upgrade [10%, 80%) Maintenance (80%, 100%] and monthly weighted maker trading volume less than 5 million USDT: Disqualify |
/ |
- |
For USDT-M Futures or Coin-M Futures Makers:
- The best of the following 3 indicators of a market maker will be used for its performance assessment and determine the maintenance, upgrade, or downgrade of its tier level.
- Separate assessments will be carried out for USDT-M futures and Coin-M futures. USDT-M futures include USDT-M perpetual and USDT-M delivery; Coin-M futures include Coin-M perpetual and Coin-M delivery.
| Tier |
Weighted Maker Trading Volume (Percentile rank) |
Or |
Maker Trading Volume One-way share against platform total |
Or |
Weighted Depth (Percentile rank) |
| Tier S |
[0%, 85%] Maintenance [85%, 100%) Downgrade |
/ |
≥1% |
/ |
Top 5% |
| Tier 1 |
[0%, 10%] Upgrade [10%, 80%) Maintenance [80%, 100%) Downgrade |
/ |
[0.5%,1%) |
/ |
（5%-15%] |
| Tier 2 |
[0, 10%] Upgrade [10%, 80%) Maintenance (80%, 100%] and monthly weighted maker trading volume less than 5 million USDT: Disqualify |
/ |
- |
/ |
（15%-30%] |
Calculation Formula: (take one symbol for example)
Weighted maker trading volume = Maker trading volume of the symbol * symbol weight factor
The volume of each order is converted to USDT at the conversion rate at the transaction time for calculating the weighted trading volume for assessment purposes.
One-way share against platform total = Maker trading volume of a market maker / maker trading volume of the platform * 100%
Weighted Depth
*Intraday weighted average depth = Total intraday order size * symbol weight factor * bid-ask spread factor / intraday number of snapshots
*Monthly weighted average depth = (∑ intraday weighted average depth) / monthly days' count
Important Notes:
- The assessment cycle is a calendar month from 00:00:00 (UTC+8) on the first day of a month to 23:59:59 (UTC+8) on the last day of this month.
- The maker fee rates are adjusted on the 16th day of each calendar month, or the first workday after the 16th day if it falls on a weekend or holiday.
- HTX provides each market maker with a daily report on the market-making performance, which can be viewed on the HTX Open Platform - Workplace
- The negative maker trading fee takes effect immediately upon the completion of each trade.
Notes：
- Market-making related rules may be changed or adjusted from time to time as the HTX market-maker team sees fit based on the current liquidity and depth effectiveness.
Such change or adjustment includes adding or removing applicable symbols, adjusting symbol weight factors and the bid-ask spread weight factors, etc. - Any maker trading volume generated from self-trading will be excluded.
How to participate?
Apply to become a market maker by sending an email to [email protected] or contacting your account manager.
- A HTX account holding at least 200,000 HT or a total asset of 2 million USDT can enjoy the Tier S preferential policy as a market maker and enjoy Prime 11 preferential fees.
- A HTX account holding at least 100,000 HT or a total asset of 1 million USDT can enjoy the Tier 1 preferential policy as a market maker and enjoy Prime 10 preferential fees.
- A HTX account can enjoy the Tier 2 preferential policy as a market maker if it holds an asset equivalent to 5 BTC in spot account or equivalent to 3 BTC in Futures account.
Welcoming Events for New Market Makers
HTX Offers 1 bps USDD Rebates for Incremental USDT-M Perpetual Futures Trades by Market Makers
Thank you for your support!
HTX
December 30, 2022
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HTX reserves the right in its sole discretion to amend or change or cancel this announcement at any time and for any reasons without prior notice. The above is for information purposes only and HTX makes no recommendations or guarantees in respect of any virtual asset, product, or promotion on HTX. Prices of virtual assets are highly volatile and trading virtual assets involves risk. Please read our Risk Reminder text here.
