ABCs serve as non-withdrawable collateral for trading on the Thalex platform. They are designed to allow customers to
explore and experience Thalex’s features.
The use of ABCs is governed by the ABC Terms of Use, along with the Terms of Use and the Rulebook. Please review these terms for details.
Some key points to note:
- 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 of Use, 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.
Find below the complete ABC Terms of Use
Thalex may, from time to time, in its absolute discretion, credit Participants accounts with Asset
Balance Credits, or “ABCs”, which will be governed under this Term 23.
These credits can be done, usually, as result of Campaigns, or as a good will gesture, or credit
advance, done by Thalex at its absolute discretion without obligation to assign a reason thereto.
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.
- 1.1. Eligibility
- All customers are eligible to receive ABCs, provided that:
- 1.1.1. Recipient individuals have completed KYC, KYB or overall CDD;
- 1.1.2. Recipient has not, in Thalex’s reasonable opinion, been found to be in breach of
the Rulebook, namely Part e;
- 1.1.3. Recipient has not created an unfair trading environment, nor has the Recipient gained, or attempted to
gain, either directly or indirectly, an undue and/or unfair advantage;
- 1.1.4. Recipient does not reside in a jurisdiction where trading is unlawful, or subject to local regulatory
and/or registration requirements.
- 1.2. 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.
- 1.2.1. ABCs are backed by corporate funds, granted by Thalex for the purposes of facilitating trade;
- 1.2.2. 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.
- 1.2.3. ABCs can only be used for margin balance purposes.
- 1.3. Use
- ABCs are used to increase Available Margin on a Participant’s Account. Thalex reserves the right to reverse any
granting of ABCs in the event of breach of these Terms of Use, including breaches of Part e of
the Rulebook, without
limitation.
- 1.4. P&L Settlement
- 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. - 1.5. Equity & Withdrawals
- ABCs are not available for withdrawal, and are not part of a Participant’s equity.
- 1.6. Expiry
- ABCs don’t expire; however, Thalex reserves the right to remove any ABC balance from the Participants account
following 1 (one) months of inactivity.
- 1.7. Promotional use
- Thalex may, at its sole discretion and based on its own marketing campaigns, credit client accounts
with ABCs for the purposes of test trading or any other purpose deemed appropriate by Thalex, as
an exemption to section 23.1.1. of the Terms of Use.