The company, as a trading matching and digital asset exchange center through an electronic system, has established criteria for the trading and exchange of digital assets to ensure that the process is fair and orderly. The related criteria are as follows:
1. Methods of trading and exchanging digital assets through the trading system.
The order matching method is based on price and time priority according to the algorithm, with no human intervention. This is known as Automatic Order Matching (AOM).
- The order of trade execution when a trade order is submitted: The trading system will store the order from the time it is submitted and arrange the orders based on the best price and time (Price then Time Priority). The principle is as follows:
- The buying order with the highest bid price will be ranked first. If there is a higher bid price submitted, the higher bid will be ranked first. If there are multiple orders at the same time, the orders will be ranked based on time, with the order that was submitted first appearing first in the trading system.
- The sell order with the lowest ask price will be ranked first. If there is a lower ask price is submitted, the lower price will be ranked first. If there are multiple orders at the same time, the orders will be ranked based on time, with the order that was submitted first appearing first in the trading system.
- Order Matching. When a trade order is submitted to the trading system, the system will check if the order can be immediately matched with an opposite order. If the order can be matched immediately, the system will match them. However, if the order cannot be matched, the system will arrange the buy and sell orders according to the Price then Time Priority principle as mentioned above and wait for future matching.
- Submitting Buy or Sell Orders for Digital Assets The minimum and maximum order amounts are defined by the company on a case-by-case basis.
- Submitting Buy or Sell Orders in Thai Baht Orders can be placed with up to eight decimal places.
- Submitting Buy or Sell Orders for Digital Assets Orders can be placed with up to eight decimal places.
2. Process of Submitting Buy and Sell Orders
2.1 Buy Orders
Customers must have sufficient funds or cryptocurrency in their accounts, as listed on the SEC's website, to cover the purchase order for digital tokens, including any applicable fees, taxes, and other related costs.
2.2 Sell Orders
Customers must have sufficient tokens in their account to submit a sell order.
2.3 Currency
Customers can buy, sell, or exchange digital tokens only with Thai Baht or cryptocurrencies that are listed on the SEC's website.
3. Types and Meanings of Each Type of Buy and Sell Orders
3.1 Market Order
A trade order to buy at the lowest ask price or sell at the highest bid price in order. If there is an unmatched quantity in the buy or sell order, the trading system will immediately cancel the unmatched quantity.
3.2 Limit Orders
An order with conditions specifying to buy if the price falls to or below a certain point or sell if the price increases to or exceeds a specified point. In some situations, the system may execute only a portion of the limit order. In such cases, the remaining order will remain active until it is fully executed or canceled by the user. In certain circumstances, such as scheduled maintenance, limit orders may be canceled by the company.
3.3 Stop Orders
A trade order that investors can use to limit losses or protect profits. The investor sets a specific price level to buy or sell when the price reaches that point. Stop Orders are divided into 2 types:
3.3.1 Stop Market Order
This order specifies that a Market Order will be placed into the trading system immediately when the price moves up or down and reaches the specified point.
3.3.2 Stop Limit Order
This order specifies that a Limit Order will be placed into the trading system immediately when the
price moves up or down and reaches the specified point.
3.4 Trailing Market Orders
This type of order adjusts the buy/sell point based on the latest price changes in real-time. When the price reverses and reaches the specified price difference (Trigger Price), the system will automatically place the order. It is suitable for continuous profit-taking as long as the price moves in a profitable direction (Let Profit Run). Trailing Stop Orders are divided into 2 types:
3.4.1 Trailing Stop Market Order
This order specifies that an automatic Market Order will be placed into the trading system
immediately when the price reverses and reaches the specified price difference (Trigger Price).
3.4.2 Trailing Stop Limit Order
This order specifies that an automatic Limit Order will be placed into the trading system immediately
when the price reverses and reaches the specified price difference (Trigger Price).
4. Trading Hours and System Downtime
Customers can trade 24 hours a day, every day. However, customers will not be able to trade during scheduled system maintenance. Users should be aware of the price volatility of digital assets that may occur before and after system maintenance. The company will notify customers at least 7 days in advance of any scheduled maintenance. The company may change the trading hours at any time at its discretion, and customers will be notified at least 3 days in advance.
5. Prohibited Trading Activities
Trading activities that are deemed inappropriate, such as orders that may mislead other investors or exploit other investors, are prohibited. If the company detects or determines that a customer is involved in such activities, the company reserves the right to suspend services for that customer.
For more information: Improper Trading Practices
6. Market Disruption
In the event of an error or disruption during the submission of buy or sell orders or the matching of such orders, the company will review the affected orders and trades from that time. The company reserves the right to cancel all or some of the buy and sell orders. If an abnormal situation arises, the company may consider halting trading and will notify customers through the company’s website and via email.
7. Guidelines for the Marking of Digital Asset Tokens and Cryptocurrencies
7.1 The company will issue a caution symbol (“C”) to alert investors immediately when the following events occur:
- If there is any change in the digital asset that may affect the rights and interests of the digital asset holders or if there is an amendment to the offering document or prospectus or a modification of the whitepaper.
- If there is any reason to suspect that certain trading conditions for digital assets may involve parties with access to material non-public information, which should be disclosed to customers. This includes any other event that may significantly impact the trading of digital assets on the company’s exchange, such as when a company that issued and offered digital asset tokens voluntarily requests the delisting of the digital asset.
8. Disclosure Channels for Digital Asset Trading Guidelines
Users can access the trading rules and other related information through the company’s website.