Trading Rules

Below are the Trading Rules that ensure a safe and fair trading environment.

This document outlines the rules for trading on the BL3P trading platform. The definitions used in this document have the same meaning as those in the User Agreement.

Article 1: Orders

1. To initiate an Order and place it in the Order Book, the User must have sufficient Funds available in their Account to cover the total value of the Order plus fees.
2. When a User places an Order, the respective amount of Funds is reserved for it. The reserved amounts are rounded up. For amounts specified in Euro, rounding differences may occur.
3. Users can place different types of Orders, including a Limit Order and Market Order.

Article 2: Matching and order priority

1. Orders are processed in chronological order of entry into the Order Book and matched based on price-time priority. This means that Orders placed first in time are matched against the best available price in the Order Book. If multiple Orders have the same price, the oldest Order is matched. This process continues until Orders are fully filled and/or (partially) canceled.
2. A Limit Order can be matched with one or more different Orders with the same or better specified minimum or maximum price. A Market Order can be matched with one or more different Orders.
3. All Users are subject to the same price-time priority. Users have equal access to BL3P and the API. Bitonic does not provide any User with priority access.

Article 3: Fees and costs

1. Bitonic charges fees for execution Orders. When an Order is filled, Bitonic immediately settles by debiting or crediting User's Account balance. The User can immediately withdraw the balance in their Account, considering the limits as mentioned in article 6 of the User Agreement.
2. The current trading, deposit and withdrawal fees can be found in the fee overview on BL3P.

Article 4: Market integrity

1. All Orders that are fully or partially filled cannot be undone or reversed, unless Bitonic is legally obliged to do so or they are executed due to a Bitonic error or during (technical) downtime on BL3P. If something goes wrong on BL3P, Users are entitled to support.
2. Bitonic may, at its discretion, take any action deemed appropriate to maintain market integrity, including modifying, reversing, and/or canceling open Orders, including but not limited to the following cases:
   1. Orders placed by Users who have engaged in abuse, unauthorised use, or improper use of the Services. This may include, but is not limited to, market manipulation or unreasonably burdening BL3P by using the API in a certain way.
   2. Orders where the User knows or reasonably should know that they contain an error regarding price, quantity and/or other parameters.
   3. Upon termination of the User's Account as referred to in article 4 of the User Agreement.
   4. If necessary for (technical) reasons.
3. It is strictly prohibited for the User to engage in or attempt market manipulation, including but not limited to the following activities:
   1. Misleading and/or inappropriately profiting from other Users and/or Bitonic.
   2. Artificially controlling and/or manipulating the price and/or trading volume of crypto-asset markets.
   3. Endorsing, encouraging, facilitating, financing, supporting or combining what has been described above.
4. Market manipulation includes activities and behaviors as defined in article 91 paragraphs 1 and 2 of MiCA and specifically: front-running, wash trading, spoofing/layering, churning and quote stuffing.

Article 5: Interruptions and scheduled maintenance

1. Bitonic may temporarily suspend trading on BL3P due to maintenance or for its compelling reasons, including but not limited to suspending Funds withdrawals and deposits, canceling Orders, disabling the ability to place new Orders, disabling the ability to log in and/or disabling the API.
2. Bitonic announces planned major maintenance on BL3P at least 24 hours in advance.