Public Hearing on Updated Trading Rules for Digital Asset Trading

Modified on Fri, 24 May 2024 at 06:00 PM

Principle


Given the Company's development of an automated Dollar Cost Averaging (DCA) feature (Auto DCA) to facilitate customer investment, it is deemed appropriate to revise the digital asset trading rules ("Trading Rules"). This revision aims to align operations with customer needs and provide a clear, consistent framework for using the Company's trading platform. The Company is committed to transparency by disclosing criteria and informing customers before implementation.


The Company invites public comments by conducting a public hearing on the updated Trading Rules. The new auto DCA feature enables customers to pre-set conditions and schedules for placing market buy orders automatically. This functionality enhances convenience by allowing customers to make timely purchases and investments at market prices.


Impact


Relevant party

Positive impact

Negative impact

Digital asset business provider (Company)

- The Company can improve service satisfaction by responding to customers’ needs.

- Needs to prepare and update the system according to the new Trading Rules.

- Needs to prepare the requirements and usage conditions for auto DCA.

Trader/user

- Can conveniently perform DCA investments by using the auto DCA feature to place buy orders according to the schedule set themselves.


- Can monitor and analyze their DCA investments more conveniently.

- Must study usage instructions, advantages, limitations, and risks of the DCA investment.


- Must study the requirements and conditions of auto DCA.


Enforcement guideline


This enforcement guideline will come into effect only after the Company receives approval for the amendments to the digital asset Trading Rules from the Securities and Exchange Commission. The details will be announced to customers and related parties through the Company’s communication channels accordingly.


Definitions of the related terms mentioned in the public hearing on the updated Trading Rules


Related Terms

Definition 

Market Order

Matching of buy and sell orders according to the amount the buyer is willing to pay in Thai baht and the number of digital assets that the seller wants to sell respectively. The bid and ask will be matched at any conversion rate to get the best possible amount of Thai baht and/or digital assets according to the amount specified by the buyer or seller.

DCA

A type of long-term investment in which an investor regularly buys assets over a certain period and per the set conditions.

Auto DCA

A method for placing buy orders in advance by setting the conditions for the system to place the orders according to the schedule.

System 

A system provided by the Company to receive orders from the customers and manage such orders according to the requested conditions.


Conditions of Auto DCA


Upon the scheduled date, the automated DCA system will execute a market buy order for the specified amount per each buying round. Before placing the order, the system will verify the remaining balance of Thai baht in the customer's wallet; if the balance is insufficient based on the predetermined conditions, the system will skip that particular purchase round without impacting subsequent orders.


Usage of Auto DCA


Customers can access the auto DCA feature through the Auto DCA menu on the website and application of Bitkub Exchange. There are 3 components of the Auto DCA page:

  1. Auto DCA Description

  2. Auto DCA Setup

  3. Auto DCA details and history

To set up the auto DCA, customers must complete setting up the following.

  1. Asset allocation

  2. Percentage of each asset to be purchased each round (The total asset percentage must be 100.)

  3. Frequency and recurring schedule: daily, weekly, and yearly

  4. Order duration

  5. The total amount per order



Customers can check the details and auto DCA history in 3 parts as follows.

  1. Opening Auto DCA: shows active auto DCA.

  2. Auto DCA buy history: shows completed auto DCA buy orders.

  3. Closed Auto DCA: shows canceled and inactive auto DCA.



To cancel auto DCA orders, go to the Auto DCA page, select the Opening Auto DCA menu, and click Cancel. The auto DCA system will immediately terminate order submission, and the status of that particular DCA will change to Closed.


In the case that the auto DCA orders are active until the end of the recurring period, the status of that particular auto DCA will also change to Closed.

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