Binance Overhauls Link Plus Fees, Impacting VIPs and Prime Brokers
- Binance is closing a loophole in its Link Plus program that provided prime brokerages extra revenues at Binance’s expense.
- The prime brokerages took advantage of Binance’s nine-tiered fee structure to earn additional revenue.
- While Binance realigns the fee structure on July 1, major companies like Bequant are impacted by the move.
Binance is revising its Link Plus program to prevent prime brokerages from taking advantage of a fee structure that allowed them to generate excessive profits.
The move comes after Binance discovered the program, designed to help brokerages manage institutional client accounts, was being misused to generate additional revenue at the exchange’s expense.
Link Plus is an interface that allows prime brokerages to manage institutional customer accounts. After Binance discovered the misuse allowing third parties to earn revenue at Binance’s expense, exchange decided to realign its fee structure, effective July 1st.
Reportedly, Binance’s top “VIP 9” tier offers users with at least $4 billion in monthly trade volume lower fees than regular customers. Prime brokers, oft…
The post Binance Overhauls Link Plus Fees, Impacting VIPs and Prime Brokers appeared first on Coin Edition.
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Binance Overhauls Link Plus Fees, Impacting VIPs and Prime Brokers
- Binance is closing a loophole in its Link Plus program that provided prime brokerages extra revenues at Binance’s expense.
- The prime brokerages took advantage of Binance’s nine-tiered fee structure to earn additional revenue.
- While Binance realigns the fee structure on July 1, major companies like Bequant are impacted by the move.
Binance is revising its Link Plus program to prevent prime brokerages from taking advantage of a fee structure that allowed them to generate excessive profits.
The move comes after Binance discovered the program, designed to help brokerages manage institutional client accounts, was being misused to generate additional revenue at the exchange’s expense.
Link Plus is an interface that allows prime brokerages to manage institutional customer accounts. After Binance discovered the misuse allowing third parties to earn revenue at Binance’s expense, exchange decided to realign its fee structure, effective July 1st.
Reportedly, Binance’s top “VIP 9” tier offers users with at least $4 billion in monthly trade volume lower fees than regular customers. Prime brokers, oft…
The post Binance Overhauls Link Plus Fees, Impacting VIPs and Prime Brokers appeared first on Coin Edition.
Read More