1. Definitions & Interpretations
This section outlines the various definitions contained within the rulebook and guidance, where required, on how the rules should be interpreted where required. Any defined terms used but not defined with this section are as defined in the Terms and Conditions.
“Applicable Law” means any applicable law, rule, regulation or guidance issued by a government agency or regulatory body, deemed applicable by the Company
“Market Abuse” means any behaviour that has been set out as being prohibited in articles 14 and 15 or EU Market Abuse Regulation 596/2014
“Order” means a quote or request or order to buy or purchase submitted to the Platform
2. Continuing Obligations of Users
Users must continue to satisfy the following obligations in order to maintain trading access to the Platform:
- Users must at all times comply with the provisions set out in this rulebook and any subsequent updates and/or revisions to this rulebook as issued by the Platform.
- Users must not engage in Market Abuse or any equivalent behaviour which has the potential to impact the integrity, fairness, or proper functioning of the Platform, cause intentional detriment to other Users, or bring the Platform into disrepute.
- Users will be responsible for their actions and, where relevant, those of individuals acting on their behalf;
- Users must provide the Platform with any such information as required by the Platform in connection with an investigation into a breach of these rules.
3. Required Disclosures of Users
Users must continue to satisfy the following obligations in order to maintain trading access to The Platform:
- Users must notify the Platform as soon as practicable, of any changes to their legal entity name or contact details.
- Users must promptly notify the Platform of any bankruptcy, insolvency or administration related to the User.
- Users must promptly notify the Platform of any system failure or inadequacy that could impact trades pursuant to the rules of the Platform.
- Users must notify the Platform of any legal or regulatory proceedings or enforcement action against the User imposed by a competent authority or law enforcement agency with respect to any activities similar to those undertaken on the Platform.
4. Access Requirements
This section outlines expectations and requirements that Users must observe in relation to trading on the Platform.
- Users must obtain, maintain and operate all equipment and software necessary to connect to the Platform, at their own expense.
- Users must have in place appropriate systems, controls and security to ensure that no malware is transmitted to the Platform and that its systems are not used in a manner that could disrupt the normal functioning of the Platform.
- Users must only connect to the Platform using a connection method permitted by the Platform.
- Users must ensure that they only access the Platform using their own permitted Account and do not disclose access information to another person or entity.
5. General Trading rules
- Users are responsible for cancelling any open orders, that they do not wish to remain open, before they log off or disconnect from the Platform.
- Users must ensure that orders generated by algorithmic trading systems are flagged as such.
- Users must inform the Platform of the algorithmic trading strategies that they intend to employ on the Platform ahead of the commencement of trading.
- Users must attest in writing that their algorithmic trading strategies have been appropriately tested in order to avoid contribution towards disorderly trading conditions on the Platform.
- When deploying algorithms, Users must ensure that pre-defined limits have been set covering, at a minimum: max number of outstanding orders, max price variance, max order size and max potential exposure cap.
- Users must have in place appropriate market risk limits based on their capital base and/or financial situation.
- Trades executed by Users on the Platform are considered firm and shall be binding on the related parties.
6. Error Trades
- Trades done in error must be notified to the Platform within 1 hour of execution and both parties must agree to the trade being an error before a cancellation can be undertaken.
- Once 1 hour has passed without notification of error having been acknowledged by the Platform trades will be considered final and will not be eligible for cancellation.
7. Prohibited Trading Practices
- Users must not engage in any activity intended to give a false or misleading impression as to the value of a product traded on the Platform.
- Users must not submit orders or trade requests that are fictitious or that constitute any other form of deceptive practise.
- Users must not submit orders or trade requests without having a genuine intention to trade.
- Users must not collude with other Users on the Platform to manipulate the marketplace.
- Users must not engage in activity which constitutes Market Abuse or any equivalent behaviour.
- Users must not commit any acts of deception or fraud in relation to the use of the Platform.
- Users must not engage in any activity that could be defined as market abuse or equivalent under global regulations, or interpreted by a competent authority or law enforcement agency as a breach of abusive conduct law or regulation.
- Users must not commit any act that would be likely to negatively impact the fairness or integrity of markets traded on the Platform.
8. Rulebook Breaches
The Platform may take action against any User deemed by the Platform to be in breach of the rules set out in this document or deemed by the Platform to have engaged in, to be engaging in, disruptive behaviour that could impact the normal functioning of the Platform. Such action includes but is not limited to:
- A formal written notification of a breach of the the Platform Trading Rules;
- Restriction of certain products or order types;
- Systematic restrictions such as order throttling;
- Suspension of trading access; and
- Termination of access to the Platform.
9. Cooperation with Authorities
The Platform may report to relevant regulatory authorities any activities which appear to be of an illegitimate or fraudulent nature, or any activity that could constitute market abuse or equivalent behaviour.
The Platform will assist in any investigation conducted into trading on the Platform by a law enforcement agency or competent regulatory authority.
This section contains additional notices and requirements to be observed by Users of the Platform.
We reserve the right to modify, amend or supplement the Trading Rules at any time without prior notice. We shall notify you of any changes made via a notification on the Website and/or via email. Any such changes will take effect as soon as they are posted on the Website or on any other effective date expressly mentioned therein.
Subject to the rights of each User with regards to its own data, the Platform shall own all the rights, title and interest, database rights and trade secret rights in and to all data and/or other information contained within, displayed on, generated by, or derived from the Platform or trades conducted on the Platform.
Users may not directly or indirectly redistribute, sell or retransmit such data without prior written permission of the Platform, provided that any such restrictions shall not apply to the Users own data.