Market Maker Protection (MMP) API Configuration

These two required parameters serve different roles within the MMP system:

interval

The interval defines how long Deribit tracks trading activity after the first trade occurs:

frozen_time – Freeze Duration

The frozen_time defines how long MMP remains triggered and blocking new MMP orders after a limit is breached:

Maximum Quote Quantity (MQQ) defines the cumulative limit on the total size of open MMP quotes or orders per side, per instrument (order book). It acts as an exposure cap, preventing excessive quoting volume even before trades occur.

Key Concepts

index_name

Identifier of the derivative instrument (index) on the Deribit platform, such as btc_usd or eth_usd. All configuration settings will apply specifically to this index.

quantity_limit

The total traded quantity, measured in units of the base currency (e.g., BTC in BTC-PERPETUAL), within the interval.

This count is direction-agnostic — a buy followed by a sell counts double.

Example: Buy 10 BTC and sell 10 BTC = 20 total quantity.

Applicable to both options and futures.

delta_limit

The maximum allowable net transaction delta change during the interval.

vega_limit

The maximum change in vega exposure allowed within a given interval, measured in absolute terms.

mmp_group

Specifies the MMP group used for Mass Quotes. If left empty (omitted), the methods apply to the orders MMP group — the MMP configuration that governs regular MMP-tagged orders.

block_rfq

When set to true, the methods apply to Block RFQ MMP settings. See Deribit Block RFQ API walkthrough for more details.

To configure Market Maker Protection (MMP) for a specific index, you must define the monitoring window, freeze duration, and at least one exposure limit. MMP configuration is applied using the private/set_mmp_configmethod.

Required parameters 

Example

{
  "jsonrpc": "2.0",
  "id": 42,
  "method": "private/set_mmp_config",
  "params": {
    "index_name": "btc_usd",
    "interval": 3,
    "frozen_time": 30,
    "quantity_limit": 5.0,
    "delta_limit": 15.0,
    "max_quote_quantity": 2.0
  }
}

Once this configuration is submitted, the system enforces MMP for the selected index based on the configured parameters.

If your MMP protection has been triggered and quoting is frozen for a given index, you can resume quoting either automatically after the configured freeze time or manually via the API using private/reset_mmp.

Behaviour

Clients can control whether individual limit orders are subject to Market Maker Protection by setting the mmp flag in buy, sell, or edit requests.

To enable or disable MMP for a specific order, include "mmp": true or "mmp": false in the request.

If you’re only updating price or size and wish to retain the current MMP setting, you can simply omit the mmp parameter—its state will remain unchanged.

The edit method supports toggling the MMP flag, allowing you to apply or remove protection without canceling and resubmitting the order.

You can monitor both the current configuration and the live MMP state for any index using two API methods.

1. Checking the Current MMP Configuration 

Calling private/get_mmp_config returns all currently active MMP parameters for the selected index, including the interval, frozen_time, quantity/delta/vega limits, and max_quote_quantity. This is useful for verifying your configuration or confirming applied updates.

2. Checking the Current MMP Status 

Calling private/get_mmp_status returns the live MMP state for the index, including:

This method lets you track whether protection is active and when quoting will resume.

Deribit provides real-time feedback on MMP (Market Maker Protection) activity via user.mmp_trigger.{index_name} subscription and event flags, enabling clients to react promptly when protection is triggered.

Clients can subscribe to the channel:

user.mmp_trigger.{index_name}

Replace {index_name} with the desired instrument index, such as:

Upon MMP being triggered for a given index, the client will receive a trigger notification in the following format:

{
  "frozen_until": 1594390902986
}

This notification allows the client to track MMP state per index and avoid submitting new orders that would be rejected due to ongoing MMP freeze.

MMP Flags in WebSocket Responses 

In addition to the event channel, Deribit also communicates MMP-trigger-related actions using a special field in order event messages.

If an order is cancelled as a direct result of an MMP trigger, the order event will include:

{
  "mmp_cancelled": true
}

This field will be absent in all other cases, allowing clients to clearly distinguish between MMP-related cancellations and other reasons (e.g., manual, timeout, user API).

Best Practices 

Please review the FIX specs here: https://docs.deribit.com/fix-api/production/mmprotection-limits