Kraken Futures announced a new plan to reduce taker fees. The new plan will affect all of the traders and change the flat-fee model to volume-based in the trading platform. They claim the fees will be reduced for all of their clients for at least 33%. The UK-regulated cryptocurrency exchange tries to improve user experience and provide more attracting services to gain more traders.
The new reduced fee policy in Kraken Futures will be applied from October 2nd. You can see the new guidelines on Kraken blog.
Providing an equitable market for all of the traders is the main reason Kraken has decided to reduce taker fees.
“With this new structure, every client no matter how big or small, will see dramatically lower taker fees. Lower fees for both individuals and institutions is expected to encourage flow and drive volume,” said Kraken Futures CEO Timo Schlaefer. “Kraken Futures has consistently grown in market share over the past year. Lowering the fees is the right thing for clients, and will help set the foundation for our next phase of growth.”
After the new volume-based fees are applied, the old Revenue Share Program will be discontinued in Kraken Futures. The crypto derivatives exchange distributed 30% pr fees to active traders through that program. The new program will make it possible for all of the traders to receive some shares from the economic benefits of the platform.
Kraken says the platform will calculate the fee tiers based on 30-day rolling. It details the meaning of Maker and Taker in the platform as
“If you submit a market order or a limit order that crosses the order book and is immediately matched, you pay the taker fee. If you submit a limit order that first sit in the order book for a period of time before it is matched, you pay the maker fee.”
According to the new system in Kraken Futures, the platform will not charge any additional fees. But the Perpetual positions in the trading platform will have funding rates as unrealized profit/loss, which is a user-to-user transfer and doesn’t include the exchange.
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