Bithumb said on March 5 it expanded the platforms providing its Time-Weighted Average Price (TWAP) service, which automatically executes large orders in multiple tranches, to the Bithumb app, PC and mobile web.

A TWAP order evenly splits order volume or value according to a set overall order period and interval and automatically submits them as market orders.

It is designed to keep the final execution price close to the average price over the period and is used as a strategy to mitigate the impact of price swings that can occur with large orders.

A TWAP order can be set at up to 1 billion won, and each tranche must be at least 5,000 won. If assets needed at the time of a tranche are insufficient, remaining orders are automatically terminated.

During execution, users cannot change conditions or cancel part of the volume. They can only cancel the entire order. Fees are charged at the time each tranche is executed, and the same fee rate applies as for market orders in the won market.

A Bithumb official said, "Split-trading functions such as TWAP are a strategic trading method that can be widely used from general users to institutional investors in terms of volatility management," adding, "As discussions continue on allowing corporate investment, the need to prepare for demand for large-volume trading is also growing."