Compliance

Personal Data

The security of your Personal Data is of the utmost importance to us and we take all reasonable care to ensure that the Personal Data that we collect remains secure and protected from unauthorised access or use. Further to this we have adopted various technical and operational measures specifically designed to protect your Personal Data.

However, the security of your Personal Data cannot be absolutely guaranteed. No means of transmitting information via the internet or method of storing data can ever be viewed as completely secure. Therefore whilst we strive to adopt measures in line with industry standards in order to protect your Personal Data, we cannot guarantee its security.

Regulatory Environment

LiquidityOne facilitates the exchange of Utility Tokens, Payment Tokens and some Stable Coins where permissible. Where possible and/or relevant Liquidity One will adopt relevant sections of the Swiss Financial Market Infrastructure Ordinance, the Global FX Code, the EU Markets in Financial Instruments Directive, and any other global regulations which we deem relevant, in order to ensure orderly trading on our platform, and to ensure that we are held to the highest standards of conduct in the facilitation of the exchange of digital payment tokens.

Order Execution 

LiquidityOne trades with its customers as principal, on a non-discretionary basis. Customers do not directly trade with underlying Liquidity providers. Customer orders may be aggregated and the net requirement filled across multiple execution venues.

Prices streamed on or by our platform are indicative. Prices at which customer orders are filled may not always match prices observed on underlying exchanges due to a number of factors including network latency, available liquidity at the Liquidity Provider, and Fair Execution Costs.

Market Orders 

Market orders are executed immediately and filled at the best available price. The best available price is an aggregate price sourced across our underlying liquidity providers and may be inclusive of Fair Execution Costs. Market orders are not subject to any ‘speed bumps’ or artificial delays. The LiquidityOne platform executes market orders as quickly as the underlying network and inherent system latency will allows.

Resting Orders 

Resting orders such as Limit or Stop Loss orders are executed once the available market price hits a pre-defined level as instructed by the customer. The available market price is an aggregate price sourced across our underlying liquidity providers and may be inclusive of Fair Execution Costs.

Fair Execution Costs 

Pricing may include a reasonable spread or commission in relation to the execution of orders. Where justified, this will take into account a variety of factors including:

• Operational costs 
  LiquidityOne maintains a significant technology infrastructure and employs a large number of expert support and execution staff across multiple locations so that we can continue to deliver you the best possible products and services.
• Liquidity and hedging costs 
  LiquidityOne plugs into, and deploys margin across, multiple liquidity sources in order to provide clients with the best possible execution.
• Brokerage costs 
  Our proprietary smart order routing algorithm automatically seeks the best available pricing from our pool of underlying liquidity providers. Some of those prices may be inclusive of additional brokerage charged by the liquidity provider.

Withdrawal Fees 

In order to provide our customers with the highest level of comfort, their assets are not held on-exchange but are held in insured custody with a world leading custodian. As a result, the custodian may charge a nominal handling charge, inclusive of associated network fees, to process withdrawals.

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.

We may also obtain information about you, including Personal Data, from third party sources including but not limited to online or public databases, identity verification service providers and credit bureaus or reporting services. You expressly consent to our approaching third parties in connection with the purposes set out in the Privacy Policy.

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.

10. Miscellaneous

This section contains additional notices and requirements to be observed by Users of the Platform.

AMENDMENTS

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.

MARKET DATA

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.

Complaints can be made to Liquidity One in writing via email to support@liquidityone.io