Market Manipulation Protection

Marketplace Rules

By agreeing to the General Terms and Conditions and Paxos Contractual Documentation located at {_}, Members also agree to abide by the following marketplace rules for the Exchange (the “Marketplace Rules”). All capitalized terms not defined herein shall have the meaning ascribed to them in the General Terms and Conditions and Paxos Contractual Documentation, as applicable.

  1. General Fraudulent Acts. Members shall not engage in any fraudulent act or engage or attempt to engage in any scheme to defraud, deceive or trick users of the Exchange, employees of the Exchange or the underlying software of the Exchange.
  2. Fictitious Transactions. Members shall not place any order with no intention to execute.
  3. Market Manipulation. Members shall not engage in any disruptive trading or manipulation of the Exchange. This includes orders placed for the purpose of generating volatility or creating a condition in which prices do not or will not reflect bona fide supply and demand.
  4. Violation of Applicable Laws and Regulations. Members shall not use the Exchange in a way that violates the laws and regulations applicable to the Company and the Exchange.
  5. Misstatements. Users shall not make any misstatement of material fact to Paxos.
  6. Activities That Bring Disrepute upon Paxos. Users shall not access the Site or use the Exchange or any Services in any way that could be expected to bring disrepute upon Paxos.
  7. Disclosing Orders. Members shall not disclose to any person, including, but not limited to, another market participant, any order placed by Member or any related party or any order placed by another person, including, but not limited to, another Member.
  8. Pre-Arranged Trades. Members shall not place any order on the Exchange that has been pre-arranged (or discussed with another Member prior to being placed on the Exchange) for the purpose of creating an artificial price, fictitious trade, or other disruptive, fraudulent, noncompetitive, or unfair impact on the Exchange.
  9. Wash Trades. Members, through one or more accounts owned by Member or any related party, shall not place or accept buy and sell orders at the same price, where Member or any related party knows that the purpose of the orders is to artificially create the appearance of activity (transactions commonly known as wash trades).
  10. Money Passes. Members shall not prearrange the execution of transactions on the Exchange for the purpose of passing money between accounts.
  11. Accommodation Trading. Members shall not enter into transactions on the Exchange for the purpose of assisting another person to engage in transactions that are in violation of our Marketplace Rules or any applicable laws and regulations.
  12. Front-Running. Members shall not take a position based upon non-public information regarding an impending transaction by another Member.
  13. Disruptive Practices. Members shall not engage in any trading, practice or conduct on the Exchange that: (i) demonstrates intentional or reckless disregard for the orderly execution of transactions or (ii) involves spoofing (bidding or offering with the intent to cancel the bid or offer before execution).
  14. Members shall not engage in any conduct that threatens, harasses, coerces, intimidates or otherwise attempts to improperly influence another Member or any other person.

MARKETPLACE RULES VIOLATIONS

If we suspect that you have violated our Marketplace Rules, we will give you written notice of such suspected violation, including the general nature of the activity observed. You will have the right to submit within ten (10) calendar days from the date of notification, a written explanation to the Company as to why no disciplinary action should be taken. You agree and understand that you are obligated to respond in writing to any queries from us within the time period for response set forth therein and to furnish documents and other information in connection with any investigation initiated under this Agreement. Following the conclusion of the investigation, we will make a determination, in our sole discretion, as to whether your conduct violated our Marketplace Rules. If we determine that you have violated our Marketplace Rules, in addition to terminating your Account, we may notify our regulators, self-regulatory organizations, including any organizations with which we share Market Data, and law enforcement of the activity, including your identity, and you agree to the same.

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