Investor notice:

Tiger Broker trading platform (hereinafter referred to as "the platform") provides innovative options trading services for digital financial derivatives (hereinafter referred to as "innovative options trading") services have certain risks, so users open and use innovative options trading services You need to carefully read and agree to this agreement. Your use of this agreement will be regarded as a complete understanding and agreement to this agreement and innovative option trading risks.

Preface

The purpose of this agreement is to reveal to investors the investment risks of innovative digital asset options trading, and to help investors evaluate and determine their own capabilities. In view of the existence of investment risks, investors should read this agreement carefully before trading, and must ensure that they understand the nature and rules of innovative options trading, and based on their own investment experience, objectives, financial status, and ability to bear risks, etc. Decide for yourself whether to participate in innovative options trading. Investors should consult financial, legal and other independent professional opinions before applying for innovative options trading.

Innovative option design concept

Innovative option trading is a brand-new digital asset risk hedging financial derivative. It has the characteristics of simplicity, flexibility, and strong operability. It provides investors with a brand-new digital asset risk hedging product.
Investors can use innovative option transactions to execute transactions in specific directions under limited and controllable risk exposure; under the premise of clear expected returns, innovative options transactions have the characteristics of transaction diversity and potential multiplicity of returns; every purchase In the case of innovative options, investors also clearly know the amount of income that may be obtained at the same time.
As we all know, digital assets are financial derivatives with extremely volatile prices. The current risk hedging financial derivatives in the market, such as contract futures, are restricted by conditions such as fairness, transaction volume, and time cost, and cannot completely hedge digital assets. Risks caused by price fluctuations.
Innovative options trading not only has the advantages of risk management and portfolio investment in the nonlinear profit and loss structure of traditional financial market options trading, but also combines the characteristics of digital assets to provide investors with professional risk management strategies in high-risk markets.
Innovative options trading rules

1. Innovative options use the relevant prices of 5 well-known digital asset exchanges around the world to generate the marked price of the corresponding currency. The index composition and weight are as follows:

Trading platform Weighting ratio Benchmarking unit
Binance 20% USDT
Kraken 20% USD
Okex 20% USDT
Huobi 20% USDT
Coinbase 20% USD
2. The prerequisite for the mark price to take effect is: the effective weight exchange is ≥3, otherwise it is deemed invalid. The platform will modify the index composition and weights based on the real-time transaction data of the five major exchanges from time to time to ensure the validity and fairness of the data, and publicize it through the announcement of adjustments. Note: This platform will publish an adjustment announcement for any changes in the index composition and weight of the marked price in the innovative option transaction.

3. As the price accuracy of the five major exchanges is not unified, the system has agreed on the price accuracy of option products. If the price accuracy of a certain exchange is inconsistent with the system agreement, the decimal place will be rounded off. For example: the price accuracy of BTC option is 2 digits. If the price of a certain exchange is 9000.1234, then after processing, the effective calculation price will be 9000.12.

4. Current option cycle: divided into 30 seconds, 60 seconds, 3 minutes, 1 day, 2 days, and 3 days options.

5. Yield:

The expected return on options will be clear when investors purchase innovative options.
Users can hedge market risks on demand under the premise of determining the expected rate of return.
For example: buy 100USDT 5-minute BTC call long option, the yield rate is 70%, if the option delivery result is up, the return is 170 USDT (including the principal).

6. Delivery time: 0:00 GMT time as the start of the day's option.

For example: the start time of a 1-minute option is 00:00:00, the delivery time is 00:01:00, and so on.

7. Purchase time

For example: the start time of the current 1-minute option is 00:30:00, the delivery time is 00:31:00, and so on.

8. Abnormal situation handling: If data acquisition fails due to network delays or interruptions, third-party exchange data abnormalities, etc., or data calculation errors occur due to abnormalities in the trading system, these situations may cause the option transaction to fail to complete the delivery. You understand and agree that option transactions affected by the above circumstances will be deemed invalid transactions, and the digital assets used to purchase the above options will be returned to the user's trading account free of charge.

9. Amount limit: Each currency has a minimum purchase amount and a maximum purchase amount. The specific amount limit is subject to the actual transaction page.

10. Delivery result: Tiger Broker Exchange will implement the following criteria for determining delivery of innovative options trading from 00:00 (GMT+8) on May 28, 2020:

Delivery option bullish bullish bearish
30S |Increase rate|＞0.005% |Decline rate|＞0.005%
60S |Increase|>0.03% |Decline|>0.03%
3M |Increase|>0.04% |Decline|>0.04%
24H |Increase|>0.05% |Decline|>0.05%
48H |Increase|>0.06% |Decline|>0.06%
72H |Increase|>0.07% |Decline|>0.07%
Currently, the types of innovative options transactions that can be selected are bullish and bearish. After this adjustment of the judgment standards, the judgment standards of the price level for different delivery periods will be different. Please refer to the above table.

Bullish: The price of the corresponding currency rose from the beginning of the delivery of the session, and the absolute value of the increase exceeded the ratio shown in the table;

Bearish: The corresponding currency has fallen in price relative to the beginning of the delivery, and the absolute value of the decline exceeds the ratio shown in the table;

Note: If an option is purchased before the implementation of this new standard, the delivery and settlement will still be carried out in accordance with the original rules.

Existing risks

1. The risk of price fluctuations

As a special digital asset financial derivative with investment value, the price of innovative option trading is affected by many factors, and the price fluctuates sharply. It is difficult for investors to fully grasp in actual operation, so there is the possibility of investment errors. If the risk cannot be effectively controlled, it may suffer a larger loss, and the investor must bear all the losses caused by this alone.

2. Transaction risk

(1) In the trading system of this platform, once the transaction submitted by the investor is completed, it is irrevocable, and the investor must accept the risks that this method may bring.

(2) This platform will not make profit guarantees to investors, and will not share profits or share any risks with investors.

3. Policy supervision risks

Innovative options trading may face policy regulatory risks in different countries or regions. Investors should understand the regulatory policies of the trading region before trading, and make judgments cautiously on this premise.

4. Other possible risks

(1) Relevant trading rules for innovative options trading, including but not limited to index composition and weight adjustment, expiration time, product rules, etc. may be modified according to the actual operating conditions of the business. If the platform needs to carry out relevant trading rules due to special circumstances Modifications shall be deemed to have fulfilled the obligation of notification after the announcement of adjustments is issued, and the user shall review and adjust the trading strategy in a timely manner. Any gains or losses incurred or may be generated by the user shall be enjoyed or borne by the user.

(2) There are risks associated with the use of Internet-based trading systems, including but not limited to the failure of software, hardware, and Internet links. This platform cannot control the reliability and availability of any Internet, so this platform will not bear any responsibility for network distortion, delays and link failures.

(3) All transaction calculation results will be verified by this platform, and all calculation methods have been publicized on this platform website, but this platform cannot guarantee that the use of the website will not be interfered or error-free.

special attention items:

1. Innovative options trading is a very risky digital asset financial derivatives. Before participating, investors must thoroughly understand the basic knowledge and related risks of financial derivatives trading and participate in all related businesses of innovative options trading. Rules, carefully and carefully read and agree to the "Tiger Broker User Agreement" and "Innovative Options Trading Use Agreement", and have known and fully assumed all transaction risks caused by the strong fluctuation of digital asset prices.

2. The above-mentioned risk items are only enumerated in nature, and it is not possible to list all the risk factors related to digital asset derivatives transactions in detail. Investors should also carefully understand other possible risk factors before participating in digital asset derivatives transactions and investment And master. If based on reasonable business judgment, this platform believes that you have violated this agreement, or you are not allowed to provide services on this platform according to the laws of the country or region where you are located, or you use the services provided by this platform to engage in illegal and criminal activities, this platform has the right to temporarily Or freeze your account permanently, or suspend or terminate your use of all or part of the digital asset trading services provided by this platform. To

3. The prerequisite for the mark price to take effect is: the effective weight exchange is ≥3, otherwise, the option transaction may not be able to complete the delivery. You understand and agree that the option transaction affected by the above circumstances will be regarded as an invalid transaction and used to purchase the above options The digital assets will be returned to the user's trading account free of charge. This platform will modify the index composition and weights from time to time based on the real-time transaction data of the five major exchanges to ensure the validity and fairness of the data, and publicize them through the announcement of adjustments.

4. Any opinions, news, discussions, analysis, prices, suggestions, chat room content, information, and KOL articles on this platform are general market comments and do not constitute investment advice. This platform is not responsible for any direct or indirect losses caused by users relying on such information, including but not limited to any loss of profits.

5. It is forbidden to use this platform to conduct malicious market manipulation, improper transactions, and other unethical or illegal trading activities. If such incidents are discovered, the platform will deal with all unethical or illegal actions such as malicious manipulation of prices and malicious influence on the trading system. The users of the company take preventive protective measures such as warnings, restricting transactions, and closing accounts, and do not assume all the responsibilities arising therefrom, and reserve the right to hold relevant parties accountable.

Six, monitor transactions

The platform will set and adjust the daily transaction and withdrawal maximum limits based on security and actual transaction conditions;
If transactions frequently occur in a registered user, or a certain transaction or certain transactions are unreasonable, the professional team of this platform will evaluate and determine whether they are suspicious transactions;
When the platform determines that a certain transaction or certain transactions are suspicious transactions based on its own judgment, the platform may take restrictive measures such as suspending such transactions, rejecting such transactions, or even canceling such transactions that have occurred, and at the same time reporting to the supervisor Departmental report without notice;
This platform reserves the right to reject registration applications from investors who do not meet international anti-money laundering standards or can be regarded as political public figures. At the same time, based on its own reasonable business judgment, this platform reserves the right to suspend or terminate any suspicious transactions at any time, and does not assume any responsibility or obligation for this.