| Document | Covers |
| Netting and unsolicited flow statement |
The venue's written position on netting semantics, what is risk-bearing
versus reporting only, the blast radius of a liquidation, and how ADL
allocates across a member's end clients. Written to be attached to member
due diligence.
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| Contract specifications, USD-settled perpetuals (DRAFT) |
Draft legal-layer contract specifications for the USD-settled perpetual
contracts: nature of the contract, symbol convention, contract size by
reference to the Trading Parameters, and the margin, liquidation,
funding, settlement and fee mechanics incorporated from the Rulebook.
Marked DRAFT for review by the Head of Legal; not yet in force.
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| Contract specifications, USD-settled tradfi perpetuals (DRAFT) |
Draft legal-layer contract specifications for the twelve tradfi
perpetuals (SP500-USD-PERP, NDX100-USD-PERP, XAU-USD-PERP, WTI-USD-PERP,
BRENT-USD-PERP, EUR-USD-PERP, GBP-USD-PERP, JPY-USD-PERP, and since Draft
0.2 US500-USD-PERP, US100-USD-PERP, XAG-USD-PERP and USDJPY-USD-PERP): the
unit of each contract (one unit of JPY-USD-PERP is 1,000 JPY, prices in USD
per 1,000 JPY; USDJPY-USD-PERP is a quanto paying a fixed 1 USD per 1.000 of
the USD/JPY rate), the daily local settlement funding with its zone, snapshot
time, window and cap per product row, and the margin, liquidation,
settlement, fee and trading-hours mechanics incorporated from the
Rulebook. Marked DRAFT for review by the Head of Legal; not yet in force.
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| Contract specifications, USD-settled spot markets (DRAFT) |
Draft legal-layer contract specifications for the USD-settled spot
markets (BTC-USD, ETH-USD, SOL-USD, BNB-USD, XRP-USD): nature of the
transaction (delivery of the base asset, full prefunding, no leverage, no
position), symbol convention, quantity step and Trading Parameters by
reference, fees, the absence of margin and default management, and the
MiCA scope. Marked DRAFT for review by the Head of Legal; not yet in force.
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| Contract specifications, fixed yield contracts (DRAFT) |
Draft product terms for the six SWAP markets (USD, EUR, USD1, BTC, ETH
and SOL Fixed Yield Contract): nature of the writer-first contract, rate,
tenor and the frozen ACT/365 reward, settlement in the asset, the
unsecured writer obligation, shortfall claims and the writer block,
admission under the SWAP_COUNTERPARTY class, removal from trading, fees
and risk information. Marked DRAFT for review by the Head of Legal; not
yet in force.
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| Contract specifications, USD-settled knock-out (barrier) contracts (DRAFT) |
Draft legal-layer contract specifications for the twenty-two USD-settled
knock-out (barrier) markets (*-USD-KO): nature of the
bilateral guaranteed-stop contract, symbol convention, the terms fixed at
creation, the fixed contract multiplier of 1, the fractional Quantity Step
and the 100 USD Minimum Notional, the premium share with the knock-out
rebate and the strict take profit, the
per-market Trading Parameters by reference (the quote guard band with its
listing value and calibration rule, the minimum distances, the maximum
contract life), acceptance and early close by request, Writer margin,
termination events, fees and risk information. Marked DRAFT for review by
the Head of Legal; not yet in force.
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