Bitmex has revealed their intention to gradually roll out new rules to discourage unfair liquidity and encourage “efficient trading strategies and incentivise behaviours trading” on the platform. According to Bitmex, they have decided to implement these new rules after noticing disproportionate liquidity trading behaviour. They discovered that on their platform just 2% of users of their platform accounted for 60% of order management requests processed and less than 2% of orders traded. This indicates that those who partake in this behaviour “are incredibly inefficient with their use of the API, submitting a disproportionately high number of orders per contract traded.” [cta text='Visit Bitmex' href='/out/bitmex'] As such, it led them to believe that these people were using online automated trading services, also knowns as bots, or misconfigured trading systems or client algorithms which is “quoting too wide and very rarely trades.” While this is not strictly against their regulations, as Bitmex explained “liquidity is only useful however if it is genuinely executable liquidity”. And as these methods are taking resources away from other clients, the decision was made to combat these with new rules that will be in place. While more rules are to follow, they have already implemented their first, known as the Quote Fill Ratio Threshold. The purpose of which is to “discourage the use of strategies that submit quotes to the market without the intent to trade and therefore further strengthen the quality of liquidity on the platform in addition to freeing resources for other market participants.” According to Bitmex. More are likely to be revealed before long so if you are a trader at Bitmex stay tuned for updates about these.