Dear Users and Partners:
To maintain a fair and healthy trading environment on the platform and protect the legitimate rights and interests of our users, the platform hereby explains its management rules regarding high-frequency trading. Please read these rules carefully to understand their scope of application and handling standards.
I. Platform Stance
The platform respects and protects normal short-term trading activities, including trend following, arbitrage, hedging, and other strategic trading based on market judgment. These rules only target improper trading activities such as arbitrage using the platform's rebate mechanism and abnormally depleting the platform's liquidity.
II. Identification of Violations The platform may identify high-frequency trading violations as occurring in any of the following situations:
- Ultra-short-term scalping: Trading behavior where a single order is held for less than 3 minutes, and the cumulative holding time reaches the platform's threshold on the same day;
- Abnormal short-term trading ratio: The proportion of short-term orders to total orders on a given day exceeds 50% of the platform's total orders;
- Short-term + full-order combination: An abnormal short-term trading ratio, and the proportion of maker (pending orders) is less than 20% of the platform's total orders;
- Collaborative high-frequency trading by related accounts: The combined trading frequency of multiple related accounts exceeds the platform's threshold;
- Locking and scalping: Frequent opening and closing of positions with opposite directions and similar quantities in the same product by the same account or related accounts.
III. Violation Handling Measures The platform adopts tiered handling measures based on the severity of the violation, divided into four levels from mild to severe:
- Warning: For first-time triggers with limited impact, warnings are primarily issued through the system or customer service.
- Yellow Card: For repeated violations or particularly serious single offenses, the full amount of the day's commission will be deducted, the commission rate will be reduced, and a 14-day observation period will begin.
- Red Card: For multiple serious violations, commissions will be completely suspended, illegal gains will be deducted, relevant permissions will be frozen, and manual review will be initiated.
- Black Card: For extremely serious cases such as exploiting loopholes, the account will be directly frozen, gains will be recovered, transactions will be rolled back, and the account will be permanently blacklisted.
Note: For a group of related accounts identified by the platform, if any account triggers the above levels, the platform may apply the corresponding measures to the entire group.
IV. Appeal Mechanism
- Users who disagree with the handling results may submit a written appeal within 7 calendar days from the date of receiving the handling notification through the platform's official online customer service or BD contact person.
- The platform's risk control department will complete a second manual review within 2 to 3 business days and provide feedback on the results. The review period may be extended for complex cases, with advance notice provided.
- The review conclusion is divided into three scenarios: maintaining the original handling, changing the handling level, or revoking the original handling. This is the platform's final conclusion for the appeal.
V. Effective Date and Revision
- This rule shall come into effect on the effective date stated in this announcement. The platform reserves the right to revise this rule based on market conditions, regulatory requirements, and product iterations. Any revisions will be announced separately through official channels. The platform reserves the right to the final interpretation of this rule.
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