Chapter I General Provisions
Article 1 In order to strengthen the risk management of digital asset derivatives and futures contract trading, safeguard the legitimate rights and interests of trading parties, and ensure the normal progress of futures contract trading, this platform formulates these risk control rules (hereinafter referred to as "the rules").
Article 2 The risk management of futures trading shall adopt the risk limit system, forced liquidation system, forced deleveraging system and fair price system
Article 3 This platform (hereinafter referred to as "platform" or "we") and platform users (hereinafter referred to as "you") must abide by these measures. These rules and the amendments made by the platform to these rules from time to time constitute a part of the platform user agreement. By using or purchasing the contract futures trading services and products of the platform, you confirm that you have read, understood and accepted all the terms and conditions stipulated in these rules and our amendments and updates to these rules from time to time.
Chapter II Risk Control Terms and Agreements
Article 4 When you trade digital assets and related products on the platform, there are significant risks. In addition to the price fluctuation of digital assets, there are additional counterparty risks in derivatives trading. In some cases, the platform may decide to close some or all of your positions.
Article 5 Digital asset trading involves major risks. The risk of trading or holding virtual digital assets may cause you significant actual losses. Therefore, you should carefully consider whether to trade digital assets or related derivatives and use leverage according to your financial situation.
Article 6 The platform does not guarantee the orderly and stable trading of digital assets futures. You should be cautious when trading digital assets (and any other assets).
Article 7 The price will fluctuate at any time due to any factors. As the price fluctuates, you may have a large profit or loss. Any digital asset or trading position may fluctuate in value, or even become worthless.
Article 8 Any loss caused by the user's error shall be borne by the user. The error includes but is not limited to: failure to operate according to the trade rules, failure to conduct relevant trading operations in time, forgetting or leaking the password, password being cracked by others, and computer being hacked by other users.
Article 9 If the user uses any undetected loopholes on the website or unauthorised high-frequency tools and procedural tools to generate illegal profits, we will contact the user for recovery purposes. You must give practical cooperation, otherwise we will take measures including but not limited to restricting account trading, freezing account funds, and taking legal action. The user will also be responsible for the costs due to the user's failure to cooperate effectively.
Article 10 The digital asset derivatives futures contract trading services provided by the platform may have increased risk factors. You understand and know that:
(1) You may lose all of your initial margin and any additional digital assets you store on our platform in order to maintain your position;
(2) If the market changes are not conducive to your position or margin level, you may be temporarily informed to transfer additional digital assets to maintain your position;
(3) If you fail to deposit additional digital assets in your account as required, we can close the position at the time of loss at our discretion.
(4) Your profit or loss will depend on the price fluctuation of the corresponding digital assets, which is beyond our control.
In some cases, such as digital asset data or network interruption, we may close the relevant futures in advance for our good faith due to the nature of digital assets. You are considered aware of this potential risk.
Even if the platform has disclosed the possible risks, there may still be risks that can not be disclosed, and you may lose some or all of your assets. You should carefully assess whether your financial condition and risk tolerance are suitable for trading on our platform.
Chapter III Risk Control Measures
Article 11 In order to regulate the trading behaviour of digital asset derivatives futures contracts, maintain the market order, promote the healthy development of the market, and strengthen the supervision of the actual control relationship accounts, the trading platform has the right to take measures such as forced closing, prohibition of trading, and closure of account on abnormal trading accounts and actual control relationship accounts;
Article 12 The platform for digital asset derivatives perpetual futures shall oversee trading behaviour. In cases of abnormal trading and accounts with an actual control relationship, we may initiate procedures to address abnormal trading behaviour and implement compulsory management measures for users.
Article 13 Users participating in derivatives trading shall abide by the business rules and relevant laws and regulations of the platform, accept the self-discipline management of the platform, and consciously regulate trading behaviour.
Article 14 Identification of abnormal trades and actual control relationship
1. In case of the following circumstances, the platform shall recognise it as an abnormal trade and the behaviour of the actual control relationship account:
(1) Yourself as the trading partner, repeatedly engaging in self-purchasing and self trading;
(2) One or more customers with actual control relationship related accounts conducting trades with each other for many times;
(3) One or more actual control relationship related accounts manipulating the market price behaviour by means of trades means such as matched orders;
(4) Abnormal behaviours such as the same source of funds, the same IP address, and the synchronous trading behaviour of single or multiple trading accounts;
(5) Frequent declaration and cancellation of declaration within a day may affect the futures trading price or mislead other participants in the futures market to conduct futures trading (frequent declaration and cancellation of orders);
(6) Multiple large amount declaration and cancellation of declaration within a day may affect the futures trading price or mislead other participants in the futures market to conduct futures trading (large amount declaration and cancellation of orders);
(7) The combined position of one or more actual control relationship related accounts exceeds the position limit of the platform;
(8) The opening trading volume of a single trading day on a listed variety or futures contract exceeds the opening trading volume of the day set by the platform;
(9) The behaviour of issuing trading orders in the way of procedural trading without the authorisation of the platform, which may affect the security of the platform system or the normal trading order;
(10) Steal other people's accounts and passwords by illegal means, or use related accounts to conduct illegal trades and transfer funds;
(11) Other circumstances identified by the platform.
2. The platform has the right to seek all remedies permitted by the law and the principle of fair trade for violations of these rules, including but not limited to limiting, suspending or terminating your account or denying you the right to access this website without notice.
3. If the platform suspects that any trading activities violate the rules set out or shown in these rules, the platform has the right to restrict the trading activities of any account if necessary. These restrictions may lead to risk control measures such as trade cancellation, trade restrictions and account freezing. The platform will not be responsible for any loss caused by the restriction, withdrawal or early closure of the trade due to suspected violation of these rules. You know and agree that if losses are caused by our actions, you will ensure that the platform will not be harmed by you or any third party litigation and compensate for the relevant losses. You are not allowed to trade or deposit during the investigation of account behaviour. The platform has the right to close the account without providing any further explanation at the end of the investigation period.
4. The platform has the right to close or freeze your account at any time without notice, and transfer any remaining assets to your filing address.
In addition, if the platform considers that any account has violated the user agreement and platform rules under any circumstances (including but not limited to marketing activities), it has the right to close your account immediately, and all relevant remaining assets will belong to the platform.