BitMEX Offering a New Stop Order Feature For API Users

BitMEX Offering a New Stop Order Feature For API Users

BitMEX, one of the largest cryptocurrency exchanges online, is now offering a new stop order feature for all of their API users.

BitMEX, the online cryptocurrency exchange, is offering a new stop order feature for all of their API users, the Last Within Mark. The Last Within Mark can be applied to Stop Market Orders as well as Stop Limit Orders. This new feature is designed to reduce the number of triggered stops that are seen in highly volatile and chaotic market conditions. With the cryptocurrency market being extremely volatile compared to traditional asset classes, it makes sense that this feature has been introduced in these market.

 Initially, this new feature will only be available for BitMEX API users, but it is planned to be rolled out for all users at a later period of time. The Last Within Mark is extremely useful for traders because it applies an extra condition that needs to be fulfilled on orders. This new features adds an additional check on price differences between the Last Price and the Mark Price before the Stop Order is actually triggered. This means that the Last Within Mark will reduce the number of triggered Stop Orders caused by volatile spreads. This will provide additional protection against sudden or drastic changes in liquidity.

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