Who Binance is
Binance is a crypto exchange founded in 2017 and one of the largest in the world by trading volume. It runs spot, margin and derivatives markets, alongside a wide range of other crypto products.
Trading firms and platforms connect through its spot REST and WebSocket APIs, a FIX API, and public market data streams that need no API key. That is why it is one of the venues our matching engine and market data module connect to.
What it does in your platform
Matching engine
Backs quieter pairs with Binance's depth. The engine follows Binance's order book, shows that depth on your pair within the limits you set, and covers fills on Binance, so customers have real liquidity to trade against from the first day.
Market data
Brings live quotes, trades and order book data. Binance's public streams need no API key, and the module checks them against your other sources before publishing one consistent quote per asset to your apps and charts.
How the connection works
The connectors use Binance's spot APIs: WebSocket streams and REST for market data, and the REST, WebSocket or FIX API for orders. Trading keys stay in your platform's secrets; public market data needs none.
The book is built
The connector opens Binance's depth stream, takes a REST snapshot of the order book, and applies each update in sequence, the way Binance documents it.
Depth backs your pair
Within the limits you set, that depth stands behind your pair's order book, next to your own market makers' orders.
A customer trades
The order matches in your engine, and the fill is booked to your ledger as it happens.
The fill is covered
The engine sends the offsetting order to Binance through its trading API, with its own client order ID so each one can be traced.
Binance confirms
The user data stream reports the execution, and the engine matches it to the customer's trade. Both show in the admin backoffice.
Next to other venues
In the matching engine, Binance sits with Kraken, OKX, Coinbase Prime, B2C2 and Wintermute as external liquidity, and your own market makers connect through the engine's FIX and WebSocket APIs. Adding another venue, or moving away from Binance later, does not change your apps or your traders' integrations.
In the market data module, Binance is one source among Kaiko, CoinGecko, CoinMarketCap and Coinbase. If its stream goes quiet, quotes fail over to the next source, and an asset with no fresh quote is flagged instead of showing a stale number.
When Binance fits best
A strong fit when
- You list pairs that trade actively on Binance and want that depth behind them from the first day.
- You want one of the largest crypto order books among the sources behind the quotes in your apps.
- Your team wants a choice of REST, WebSocket and FIX for orders, and a test network to try them on.
Also worth a look
- Kraken, OKX or Coinbase Prime, other venues from the same group, next to Binance or instead of it.
- An aggregator such as Kaiko or CoinGecko, when you want market data gathered across many venues.
How we get you live
The contract
We help you get your Binance account and contract in place, set up for the markets you serve.
The pairs
We set up with you the pairs Binance backs in the engine, the limits on that depth, and the assets that take Binance data in the market data module.
The keys
Binance's trading API keys go into your platform's secrets and nowhere else. Public market data needs no key.
A full test run
Orders and streams run on Binance's Spot Test Network first, from the mirrored order book to the covering order and its execution report.
