Coinbase announced a new market structure for its professional trading platform, Coinbase Pro.
According to the announcement, the changes aim to increase liquidity, enhance price discovery and ensure better price movements. The changes include a new fee structure, reportedly designed to increase liquidity, updated order maximums, new order increment sizes, the turning off of stop market orders and added market order protection points.
Coinbase Pro and Coinbase Prime will cease their support for stop market orders. The announcement further explains that all stop orders must now be submitted as limit orders and include a limit price.
The market protection points that will be introduced both to Coinbase Prime and Coinbase Pro users will amount to 10 percent for all market orders. The statement explains that market orders that move the price more than 10 percent will stop executing and return a partial fill.
The post also warns the exchange’s user base that the platform will be offline on March 22nd from 6:00 p.m. to 6:30 p.m. PDT.