OnchainCrypto provides clients with trade execution and automated trade routing services, and may provide additional services offered by affiliated trading venues through the OnchainCrypto trading platform. The following trading rules govern the receipt, execution, and settlement of orders placed through the trading platform. Undefined capitalized terms used herein shall have the meanings ascribed to them in the OnchainCrypto brokerage agreement.
1. Accepted Order Types
1.1 The trading platform shall accept the following types of orders to purchase or sell specified digital assets as specified below, but the trading platform may also accept other order types that OnchainCrypto may offer from time to time.
1.11 Limit Order: A limit order is an order to buy or sell a specified quantity of digital assets at a specified price, and can only be filled at the specified price or better. Limit orders can be placed with time-in-force instructions, which may include: Good-Till-Cancelled (GTC): If submitted, the order will remain active until cancelled by the trader. GTC is the default time-in-force instruction; or Immediate-or-Cancel: The order is submitted only to the extent it can be immediately filled; any remaining unfilled quantity will be cancelled. Fill-or-Kill: The order will only be posted to the OnchainCrypto Exchange order book if it can be immediately filled in its entirety. If the order cannot be filled, the order will be cancelled.
1.12 Market Order: A market order is an order to buy or sell a specified quantity of digital assets at the best available all-in price or other pricing methodology as agreed with OnchainCrypto from time to time. For purposes of these trading rules, "all-in price" shall mean a price that reflects all trading or other relevant fees, costs, interest charges, or expenses for executing the order. Due to constantly changing market conditions, there is no guarantee that a market order will be filled at the specified price or that the specified quantity will be fully executed. Market orders can be filled at multiple different prices. Depending on the trading volume and prices at networked trading venues when the market order is submitted, the execution price of a market order may be lower than the most recently observed trading price, and in some cases significantly different. Valid market orders will be immediately sent from the trading platform to networked trading venues.
1.13 Time-Weighted Average Price Order: "Time-Weighted Average Price Order") seeks to complete an order by splitting the order into smaller pieces that will be traded independently at different time intervals across networked trading venues in a linear manner, using a series of execution strategies. Traders can specify for a TWAP order: i. Buy/Sell direction; ii. Quantity; iii. Limit price; iv. Start time; v. Duration.
1.14 Stop Order: A stop order is an order to buy or sell a specified quantity of digital assets once the price reaches a specified stop price. When the stop price is reached, the stop order becomes a market order.
2. Order Routing
2.1 OnchainCrypto uses trading algorithms to automatically send orders to affiliated trading venues. The trading logic incorporates various factors related to orders and affiliated trading venues, which may include but are not limited to: available prices; order size; order type; likelihood of execution; availability of affiliated trading venues; OnchainCrypto's reputation at affiliated trading venues; and any other considerations related to order execution, which shall be determined at OnchainCrypto's sole discretion. OnchainCrypto periodically reviews the quality of affiliated trading venues to evaluate their execution practices. Clients who choose to exclude specific affiliated trading venues acknowledge that OnchainCrypto Exchange will not be excluded, that the trading logic may not necessarily incorporate the above factors (including available prices) to the maximum extent compared to orders not subject to such exclusions, and that OnchainCrypto has no obligation to provide pricing data for any excluded affiliated trading venues.
2.2 Trading Controls: To help reduce the possibility of human error, OnchainCrypto has implemented trading controls applicable to order entry and order execution.
2.3 Clients may choose to use the services provided by OnchainCrypto execution services. OnchainCrypto, as an agent, will match client orders over-the-counter in accordance with the provisions of the relevant trading agreement. In this case, client orders may not be executed on affiliated trading venues. By choosing to use OnchainCrypto execution services, clients understand and accept that OnchainCrypto execution services may eliminate any positions on both sides of the market within the account after trade execution (unless otherwise agreed).
3. Order Requirements
3.1 Available Funds: To submit and execute an order, the client's trading balance must have sufficient funds or credit to cover the total value of the order plus any applicable fees. After an order is submitted, the relevant funds will be held until the order is completed or any portion of the remaining order is cancelled.
3.2 Minimum Order Size: All orders placed through the trading platform may be subject to minimum order size requirements specified by OnchainCrypto.
3.3 Maximum Order Size: All orders placed through the trading platform may be subject to maximum order size constraints specified by OnchainCrypto.
4. Order Operations
4.1 Submission
4.11 Clients can submit buy or sell orders through their account on the trading platform, specifying the order type, quantity, asset type, and any other supporting criteria required for the specific order type at the time of submission.
4.2 Confirmation
4.21 Orders marked as completed or confirmed cannot be cancelled, revoked, or modified.
4.3 Client Cancellation
4.31 Traders can cancel orders at any time before the order is completed, but we do not guarantee that orders can be cancelled once submitted to the trading platform.
4.32 No fees are charged for cancelling any portion of an order.
5. Fees
5.1 OnchainCrypto charges fees for executing orders. Fee schedules are available on the OnchainCrypto website and may be updated from time to time.
6. Market Data
6.1 OnchainCrypto provides market data for informational purposes only. Market data may be delayed and is not guaranteed to be accurate or complete.
7. Risk Disclosure
7.1 Trading digital assets involves significant risk. Clients should carefully consider whether trading is appropriate for them in light of their financial condition and risk tolerance.
8. Compliance
8.1 OnchainCrypto complies with all applicable laws and regulations. Clients are responsible for ensuring their own compliance with applicable laws and regulations.
9. Settlement
9.1 OnchainCrypto settles all completed orders immediately upon receiving confirmation from affiliated trading venues by debiting and crediting the relevant balances of digital assets in the trader's account. Subject to applicable daily withdrawal limits, traders can immediately request withdrawal of all digital assets in their account.
10. Flash Crashes and Circuit Breakers
10.1 OnchainCrypto does not use circuit breakers or automatic trading suspensions based on predetermined price ranges. OnchainCrypto may suspend trading on the trading platform at its sole discretion. Networked trading venues may enable circuit breakers, which may cause interruptions in services provided through OnchainCrypto from time to time.
11. Prohibition of Market Manipulation
11.1 Traders are prohibited from engaging in market manipulation directly or indirectly on the trading platform, including any market manipulation that may harm networked trading venues. Market manipulation refers to actions taken by any market participant or person acting in concert with a participant designed to: deceive or mislead other clients; artificially control or manipulate the price or trading volume of digital assets; or assist, abet, facilitate, finance, support, or endorse any of the foregoing. This may include conduct within or outside the trading platform.
11.2 Market manipulation specifically includes but is not limited to: front-running, wash trading, spoofing, layering, churning, and quote stuffing.