Eat the Spread
Earn back the execution cost on option trading.
How it works?
Upon reaching volume tresholds, you will earn ABC rebates calculated as 4 bps * notional volume.
Rewards are granted based on the total options notional volume you achieve during the week:
- Bronze level: $1 Million options volume = $400 in ABCs
- Silver level: $2 Million options volume = $800 in ABCs
- Gold level: $3 Million options volume = $1,200 in ABCs
Disclaimer: $1200 in ABCs is the highest reward paid out for $ 3M volume. But you remain eligible for MQP rewards. Maker volume rebate if you use limit orders. For more information on MQP rewards, see here.
How to participate?
Participation is open to all Thalex retail users who trade options. If you meet the threshold, your reward will automatically be deposited to your account.
Get more information about the ABCs see the ABC Terms, Terms of Use.
Tip:
Use Limit Orders to control your entry and exit prices to lower your execution cost.
- We assume a half-spread of 4 bps. If you achieve $1 Million in options volume, we estimate that you will eat $400 worth of spread.
- Your reward for achieving $1 Million options volume is $400 in ABCs.
- If you quote at a half spread of 2.2 bps, your spread cost will only be $220, and therefore your profit will be $180 in ABCs.
Rules
| Rule | Requirement |
|---|---|
| Duration | Every week starting on Wednesday 08:00 AM UTC (settlement) |
| Qualification | Your total options notional volume in a week must meet the minimum rewards requirement to qualify. |
| Rewards Distribution | Wednesdays 10:00 AM UTC |
| Exclusions | Option trades that do not comply with Rulebook, 300:1 maximum notional volume to premium volume ratio. |
FAQs
How can I participate in the campaign?
Simply trade options on Thalex.
How can I participate in the campaign if I am not a Thalex customer?
Complete the onboarding first: Sign up on Thalex.
After completing the onboarding, deposit funds into your account and start trading options.
How can I use my earned ABCs?
You can use your earned ABCs however you want on Thalex. For more information on ABCs, visit the ABC Terms.
Are there any fees?
Trades are subject to the standard Thalex exchange fees.
Campaign Terms
- This campaign is open solely to retail traders, provided they have a Thalex account. If you do not have a Thalex account, you can apply for one here.
- The campaign does not have a fixed end date.
- The results of the trading test will be checked and evaluated according to the test rules after wednesday settlement.
- Trades must be conducted through Thalex accounts only. Testnet trades are not eligible for this campaign.
- The execution rebate is granted in the form of non-withdrawable ABCs ("Asset Balance Credits"), deposited into a participant's account, provided all relevant conditions are met.
- Thalex reserves the right not to grant rewards in cases of non-compliance with the Terms & Conditions, illicit behavior, or any unfair advantage, at its sole discretion.
- Thalex will not be responsible for any margin calls, position closeouts, or other risk events, which must be managed individually by each participant in accordance with their own risk profile.
ABC Fair Use
- Asset Balance Credits, or "ABC", are governed under the Terms of Use and ABC Terms of Use.
- Thalex may, at all times and without assigning a reason thereto, undertake investigations and verifications that neither the ABC’s nor the Campaigns are being misused or abused; to do so, it may undertake phone verifications, IP verifications, account verifications and other actions it deems necessary to protect the regular functioning of the Platform.
- ABCs are not Client Money, and don’t have the consideration of Client Assets. They don’t represent a segregated pool of liabilities, and will not be segregated under the Custody Policy.
- ABCs are not available for withdrawal, they are not Digital Assets, nor have the categorization of Digital Assets, and are not usable, for any purposes, outside of Thalex Platform. ABCs can only be used for margin balance purposes.
- ABCs don’t reflect P&L, and cannot be used for negative P&L settlement. ABCs don’t convert into profit; however, profit(s) derived from trades based on ABCs will be credited to the Participant’s account in the settlement coin. Whilst profits are considered Client Money, they may be reversed, and trades undone, in the event that, following its procedural checks, Thalex concludes that their acquisition has resulted of the violation of these Terms and of the Rulebook, having the ability to clack back the Profit and revert trades to the counterparts, as the case may be.
- ABCs don’t expire; however, Thalex reserves the right to remove any ABC balance from the Participants account following 1 (one) months of inactivity.
- Controlling multiple logins or coordinating activity across multiple customer accounts is strictly prohibited.
- Any breach of the ABC Terms, Terms of Use, or Rulebook may lead to the removal of ABCs and any associated profits, at Thalex’s sole discretion.
- ABCs do not qualify as Client Money unless Thalex confirms they have been received and used in full compliance with our Terms of Use.
- Thalex reserves the right to investigate customer activity. Failure to cooperate may result in the forfeiture of ABCs and related profits.
- Thalex is the sole interpreter of the Terms and Conditions of each Campaign, of the Terms of Use and of the Rulebook.