OTC Broker Pricing
The OTC Broker allows complete control over the specific price assets are valued at, and can be made to change automatically to match current market values with no oversight needed
Pricing OTC Broker Assets
When setting the pricing of any created OTC market, there are two primary options available:
Static - Simplest option, where the direct pricing of an asset, with respect to the matching other asset, is set at a certain value and will not change. This may be of use when creating a market for a token whose market value is not expected to change, for instance, where you, as the exchange operators, are issuing a new token under your control and want full control over what it is traded at.
Dynamic - This pricing method allows for the given market to track the market value obtained from an outside source, and will regularly update the pricing to ensure you are offering the market at a suitable price to ensure you remain both competitive and profitable.
Dynamic Pricing
When using Dynamic Pricing, by default, the exchange will set the fetched price from Binance (if the market exists). By using the advanced controls, however, we can change this source and work with that source price (or prices) however we desire.
To illustrate this, let's consider the examples of creating a BTC/ETH OTC market.
Dynamic Pricing BTC/ETH Example
Setting up the OTC market as described on the OTC Broker page, selecting Dynamic Pricing will open the menus that allow us to set the pricing. First, select where we'll take the pricing source from, and then, with this chosen, find the relevant market using the Track Market Price input, searching the market - if your desired market is not available, see this section on how to deal with this scenario.
Next, choose the price spread, the percentage value that will be applied to the base price to ensure profit per trade.
The price quote expiry time is simply the time (in seconds) after which the displayed price to the user will expire and need to be refreshed.
With these set, we can click Show price result to check what the values of buy and sell will be.
Now, we can either advance to the next menus or take a look at the advanced sections.
Advanced Price Setting
It is possible to further define the pricing to exactly what is required using the Advanced link at the bottom of the pricing menu.
Opening this menu, we can use arithmetical operators to further formulate exactly how the retrieved pricing is transformed.
For a simple example, with the formula, (binance_eth-btc+coinbase_eth-btc+kraken_eth-btc)/3 we can obtain the average price of the three major exchanges. This is course can be made as complex as required.
Even More Advanced Price Setting
Through the use of simple JSON code, we can go further than the built-in price sourcing. By using the APIs of sites like Coin Gecko, it's possible to utilise values taken from these sites, which can give access to more niche market data.
As in the above ETH/BTC example, instead of taking the value from the major markets that Dynamic pricing supports, we could instead use Coin Gecko with the following JSON snippet:
This JSON can be customised to whatever is required to get you exactly whatever it is you and your users need.
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