These Terms and Conditions ("T&C") are a contract between
You, a person or legal entity who uses one or more Finery Markets products and services under these T&C, including through Finery Markets software, websites, or applications (hereinafter referred to as "User") and
Finery Markets (BVI) Limited, registered number 2079689, with a registered office in Trinity Chambers, PO Box 4301, Road Town, Tortola, British Virgin Islands (hereinafter referred to as "Finery Markets"), and
(each a “Party” and together the “Parties”).
Finery Markets gives a User access to its software application (“Finery Markets software”) that is described in the Operating rules. By accessing and using the Finery Markets software, the User agrees to be bound by the T&C set out herein. If the User does not agree to these T&C, it must discontinue the use and may not access, display, use, download, and/or otherwise copy or distribute from Finery.
1. GENERAL PROVISIONS
2. LIMITATION OF LIABILITIES
3. CONFIDENTIAL INFORMATION AND NON-CIRCUMVENTION
4. FEES AND PAYMENT PROCEDURES
5. TERMINATION AND AMENDMENTS
2. GENERAL PROVISIONS
5. HOURS OF OPERATION
6. PARTICIPANT ADMISSION
7. ACCESS METHODS
9. ORDER TYPES
10. MARKET INTEGRITY
12. INVALID TRANSACTIONS
When you provide us with personal information and use our services, you accept and consent to this policy. This policy also defines your rights in relation to personal information and explains how to contact us or the supervisory authority for any concerns or complaints.
EU General Data Protection Regulation 2016/679 (“GDPR”) and we are responsible as a "Controller" of that personal information for the purposes of the GDPR as well as Cyprus Law (125(I)/2018) providing for the protection of natural persons and the processing of personal data. While the GDPR does not apply to data about companies or other legal entities, it does apply to all personal data about individuals and personal data relating to natural persons in the course of your professional activity.
1. GENERAL PROVISIONS
We receive, collect and store any information you enter on our website or provide us in any other way. In addition, we may collect the Internet protocol (IP) address used to connect your computer to the Internet; login; e-mail address; password; computer and connection information. We may use software tools to measure and collect session information, including page response times, length of visits to certain pages, page interaction information, and methods used to browse away from the page. We may also collect personally identifiable information (including name, email, password, communications); activity details, comments, feedback, product reviews, recommendations, and personal profile.
2. PERSONAL INFORMATION
2.1. When you use our website, including filling in the contact form, as part of the process, we collect the personal information you give us. This information includes the date of birth, images of your government-issued ID, passport, utility bill and other similar data related to the KYC process, transaction data including information about transactions made with us, technical data including your IP address, login data, browser type and version, time zone setting and location, browser plug-in types and versions, blockchain data including your wallet address, operating system and other technology on the devices you use to access our website or services, usage data about how you use our Platform, and aggregated data (not legally considered as personal data) including statistical data.
2.2. Cookies and pixel tags to monitor and observe the use of our websites, compile aggregate data, and provide a more effective service including customization. These “Cookies" are small text files created and stored on your computer by your internet browser software, which hold relevant information about the web page you are currently viewing. Most internet browsers allow you to disable cookies, however, this may reduce the function of our website. “Pixel tags” are small blocks of code on a webpage. They can include information such as your IP address, the time you viewed the pixel and the type of browser being used.
2.3. The Cookies and their functions that this website uses include:
2.4. Your personal information will be used for the specific reasons stated below only.
3. INFORMATION USE
We may collect such Non-personal and Personal Information for the following purposes:
3.1. To provide and operate our web service and the Platform;
3.2. To provide our users with ongoing customer assistance and technical support;
3.3. To be able to contact our visitors and users with general or personalized service-related notices and promotional messages;
3.4. To create aggregated statistical data and other aggregated and/or inferred Non-personal Information, which we or our business partners may use to provide and improve our respective services;
3.5. To comply with any applicable laws and regulations.
4. THIRD PARTY SOFTWARE
4.1. Our website uses Google Analytics to obtain statistics on our visitors.
4.2. We may use other selected third parties to help deliver our services including but not limited to: business partners, fiat on or off-ramps, fraud prevention services, or analytics and search engine providers that assist us in the improvement and optimization of our site.
4.3. We only allow the third parties we work with to process your personal information if we are satisfied with the way they take appropriate technical and organizational measures to protect your personal information. We also impose contractual obligations on our selected third parties to ensure they can only use your personal information to provide services to us and to you. We do not allow our third-party service providers to use your personal data for their own purposes and only permit them to process your personal data for specified purposes and in accordance with our instructions or as based on any notice provided to you.
We may contact you to notify you regarding your account, to troubleshoot problems with your account, to resolve a dispute, to collect fees or monies owed, to poll your opinions through surveys or questionnaires, to send updates about our company, or as otherwise necessary to contact you to enforce our Terms and Conditions, applicable national laws, and any agreement we may have with you. For these purposes, we may contact you via email, telephone, text messages, and postal mail.
6.1. All information you provide to us is stored on secure servers. If you have a password to access certain parts of our Platform, you are responsible for keeping this password and other personal information confidential.
6.2. We will keep your personal information while you have an account with us or while we are providing services and/or products to you or while we are in a contractual relationship with you. Thereafter, we will keep your personal information for as long as is necessary and as required by the relevant regulations.
7. YOUR RIGHTS
7.1. You have certain rights regarding your personal information, subject to local law. These include the rights to:
7.2. Our Data Protection Officer (“DPO”) We have appointed a data privacy officer to address questions related to this privacy notice. If you have any questions about this privacy notice, including any requests to exercise your legal rights, if you do not want us to process your data anymore or if you would like to access, correct, amend or delete any personal information we have about you, please contact our DPO at firstname.lastname@example.org.
The GDPR also gives you the right to lodge a complaint with a supervisory authority. The supervisory authority in Cyprus is the Office of the Commission for Personal Data Protection. Their office is located at Iasonos 1, 1082 Nicosia, Cyprus. They can be contacted by telephone at +357 22818456, by fax at +357 22304565, or by email at info@email@example.com.
7.3. We do not sell, trade, or rent your personal information to others. We may share generic aggregated information not linked to any personal identification information regarding visitors and users with our business partners and with regulatory bodies to the extent required by law.
9. CHILDREN'S ONLINE PRIVACY
Compliance with children's online privacy protection act. We do not accept users under the age of 18 and no part of our website or Platform is structured to attract anyone under 18.
10. YOUR ACCEPTANCE
The intention of this Risk Disclosure is to inform you that the risk of loss from a Transaction may be substantial. You should not enter into a Transaction unless you understand the nature of the Transaction and your exposure to risk. You should also carefully consider if the Transaction is suitable for you considering your circumstances and financial position. We expressly assume no guarantee for the completeness of the risks presented. There are additional risks which are not presented here, and individual risks may arise in certain situations. Further, both these listed risks, as well as non-listed risks, may occur both singly and cumulatively.
You are responsible for your trading decisions. We do not and will not provide any investment advice in relation to a Transaction, your portfolio or trading strategy. We will not make personal recommendations or advice on the merits of purchasing, selling, or otherwise dealing in particular investments or executing particular Transactions, any tax consequences, the composition of any portfolio, or any other rights or obligations attaching to such investments or Transactions. Therefore, you must rely on your own judgment in deciding to enter into or close a Transaction. You are advised to consult a specialist, including investment, legal, or tax professionals who are familiar with your needs, objectives, experience and/or knowledge and circumstances. Any information provided here or elsewhere by us does not substitute for the advice of qualified specialists.
Words and phrases defined in the Operating Rules and Terms & Conditions shall have the same meanings (unless otherwise expressly provided herein) for the purposes of this Risk Disclosure.
In considering whether to trade, you should be aware of the following:
1. MARKET RISK
Your payments and/or receipts in respect of a Transaction on a settlement date are independent of the changes in the value of the assets of a Transaction after the trade date. In particular, you recognise that you may have to pay your counterparty for a devalued asset more than its market value on the settlement date.
2. CREDIT RISK
Any Transaction which requires a counterparty to make payments to you will expose you to their credit risk, as opposed to the credit risk of a central clearing corporation as would generally be the case in certain other markets. As a result, there is the risk of loss resulting from that counterparty's failure to meet their contractual obligations.
3. LIQUIDITY RISK
A Transaction generally cannot be assigned, transferred or terminated without the consent of your counterparty, and your counterparty is not legally or contractually obliged to give its consent. It therefore may be impossible for you to liquidate your position at any time or at a given price and you may have to search for another counterparty to enter into an offset position or minimize your risk in a different manner.
4. PRICE RISK
Because the prices associated with Transactions are individually negotiated between you and your counterparty and there is no central source for obtaining prices from competing dealers, there can be inefficiencies in transaction pricing. We make no presentation or warranty that prices on the Platform will always be the best prices available to you.
5. FOREIGN CURRENCY (FX) RISK
The profit or loss on a Transaction in foreign currencies will be affected by fluctuations in currency exchange rates where there is a need to convert between currencies. Thus, you are exposed to risks that exchange rates may significantly change. Further, governments and monetary authorities may impose (as some have done in the past) exchange controls that could adversely affect an applicable exchange rate.
6. VOLATILITY RISK
The prices of Digital Assets are volatile and fluctuate sometimes dramatically. The price of a Digital Asset may move up or down including becoming valueless. You should be prepared to lose your entire investment in such Digital Assets.
7. PLATFORM AND ACCOUNT RISK
User access to this Platform is contingent on the Platform continuing to function as intended and your account being operational. There is the risk that the Platform or your account may be non-functional either temporarily or permanently. Included in this risk is the chance that your account access information is lost or stolen. As a result, there could be a significant loss to your investments.
You understand and agree that this brief Risk Disclosure cannot disclose all the risks and other significant aspects of Transactions to be entered into with us and you should therefore carefully study these Transactions before you trade. In particular, you understand and acknowledge that:
a. you have read and understood the nature and contents of the risks which are contained in this Risk Disclosure;
b. you have reviewed carefully your specific financial needs and investment objectives before entering into any Transaction, and you have made your own independent decision to enter into any Transaction and as to the legality, suitability and appropriateness of any transaction based upon your own judgment and upon advice from such advisers as you have deemed necessary;
c. you confirm that neither we nor any of our Affiliates, is acting as a fiduciary for or an adviser to you in respect of any Transaction;
d. you are not relying on any communication (written or oral) from us as investment advice or as a recommendation to enter into any Transaction and you understand that the information and explanations of the terms of any Transaction as contained in any Confirmation shall not be considered to be investment advice or a recommendation to enter into such Transactions;
e. you understand the tax implications of a Transaction, particularly as regards to Transactions involving Digital Assets, in your jurisdiction including, without limitation, income tax, corporation tax, capital gains tax or any sales tax or value-added tax and any other tax framework in place within your country of residence for tax purposes;
f. you acknowledge that no communication (written or oral) received from us shall be deemed to be an assurance or guarantee as to the expected results of any Transaction.
1.1 The purpose of this policy is to identify the digital assets that Finery Markets will offer to its Users.
1.2 Finery Markets will use a risk-based approach to identify assets that may be offered by Finery Markets to Users. This risk-based approach is an industry-standard approach that mitigates potential high-risk assets which might be implicated in an activity such as fraud, money laundering, or other prohibited activity.
2.1 Finery Markets reserves the right to revise this policy at any time and for any reason.
2.2 Certain elements of this policy may be superseded by changes in the law of Finery Markets’ governing jurisdiction.
3.1 Liquidity. The asset should have equal to or greater than an average of $10 million USD in average daily volume as measured in the preceding 30 calendar days. The volume data from Coinbase Pro, Binance, FTX, Kraken, Gemini, and Bitstamp as shown by coingecko.com will be used to assess this criterion.
3.2 Privacy. Finery Markets does not accept digital assets that are explicitly or implicitly designed to provide anonymity which might violate applicable regulations, including but not limited to anti-money laundering and tax reporting (so-called “privacy coins”).
3.3 Regulation. Finery Markets does not accept
4. INITIAL AND ONGOING MONITORING
4.1 Before any asset is made available by Finery Markets to the Users, it will be subject to a written risk assessment as specified above.
4.2 All accepted assets will be subject to an annual review or may be subject to review at the request of a corporate director.
4.3 Ongoing monitoring for asset changes to this policy, including but not limited to adverse media or changes to liquidity will be conducted using industry-standard methods.
5. RESPONSIBLE PERSON
5.1 The corporate director will be responsible for updating this policy on no less than an annual basis.
5.2 The corporate director will be responsible for conducting an initial review of assets, ongoing monitoring of assets, and an annual review of assets.
5.3 The corporate director will be responsible for directing Finery Markets executives to de-list any asset which is not in compliance with this policy.