Set MMP

info

What is MMP?

Market Maker Protection (MMP) is an automated mechanism designed to protect market makers (MM) against liquidity risks and over-exposure in the market. It prevents simultaneous trade executions on quotes provided by the MM within a short time span. The MM can automatically pull their quotes if the number of contracts traded for an underlying asset exceeds the configured threshold within a certain time frame. Once MMP is triggered, any pre-existing MMP orders will be automatically canceled, and new orders tagged as MMP will be rejected for a specific duration — known as the frozen period — so that MM can reassess the market and modify the quotes.

How to enable MMP

Send an email to Bybit (financial.inst@bybit.com) or contact your business development (BD) manager to apply for MMP. After processed, the default settings are as below table:

Parameter	Type	Comments	Default value
baseCoin	string	Base coin	BTC
window	string	Time window (millisecond)	5000
frozenPeriod	string	Frozen period (millisecond)	100
qtyLimit	string	Quantity limit	100
deltaLimit	string	Delta limit	100

Applicable

Effective for options only. When you place an option order, set mmp=true, which means you mark this order as a mmp order.

Some points to note

1. Only maker order qty and delta will be counted into qtyLimit and deltaLimit.
2. qty_limit is the sum of absolute value of qty of each trade executions. delta_limit is the absolute value of the sum of qty*delta. If any of these reaches or exceeds the limit amount, the account's market maker protection will be triggered.

HTTP Request

POST /v5/account/mmp-modify

Request Parameters

Parameter	Required	Type	Comments
baseCoin	true	string	Base coin
window	true	string	Time window (ms)
frozenPeriod	true	string	Frozen period (ms). "0" means the trade will remain frozen until manually reset
qtyLimit	true	string	Trade qty limit (positive and up to 2 decimal places)
deltaLimit	true	string	Delta limit (positive and up to 2 decimal places)

Response Parameters

None

Request Example

HTTP

POST /v5/account/mmp-modify HTTP/1.1
Host: api.bybit.com
X-BAPI-SIGN: XXXXX
X-BAPI-API-KEY: XXXXX
X-BAPI-TIMESTAMP: 1675833524616
X-BAPI-RECV-WINDOW: 50000
Content-Type: application/json

{
    "baseCoin": "ETH",
    "window": "5000",
    "frozenPeriod": "100000",
    "qtyLimit": "50",
    "deltaLimit": "20"
}

Python

from pybit.unified_trading import HTTP
session = HTTP(
    testnet=True,
    api_key="XXXXX",
    api_secret="XXXXX",
)
print(session.set_mmp(
    baseCoin="ETH",
    window="5000",
    frozenPeriod="100000",
    qtyLimit="50",
    deltaLimit="20"
))

Response Example

{
    "retCode": 0,
    "retMsg": "success"
}