Risk Disclosure Notice：
Please read our FAQ before trading to understand how perpetual contract trading works on OceanEx. You agree that you have read the FAQ and understand how perpetual trading works. You also agree that you understand the risks.
Please also read OceanEx’s terms and conditions, all of which apply to Perpetual Contract trading. You accept those terms, accept the terms in the FAQ, and accept the risks associated with Perpetual Contract trading on OceanEx.
- Liquidation. You are required to maintain sufficient margin to maintain your contract position. Failure to do so may result in your position being force-liquidated. The market is prone to change and as a result your margin position may become insufficient. If your margin position is insufficient, OceanEx’s system will liquidate your position to prevent further loss. Please read the FAQ for more details.
- Rules and FAQ. Read OceanEx’s Perpetual Contract rules and FAQ carefully. You agree that you have read these rules and understand how perpetual contract trading works on our platform. There are various market risks that you accept by using this system.
- Auto-Deleveraging, Insurance Fund. The force-liquidation mechanism is designed to prevent against situations where a trader loses more money than they have on OceanEx. However, during times of extreme market volatility it may be impossible to force-liquidate a position at acceptable prices, which may push balances into negative territory. OceanEx maintains an insurance fund (funded exclusively out of other forced liquidation events) to cover or partially cover these losses. OceanEx also engages in auto-deleveraging of positions to reduce this risk systematically over time, before volatility makes it impossible to close a position at adequate prices. In some extreme market situation, you may find that it’s impossible to close the held open contract. For example, when your profits ranks first in the effective leverage PNL pf entire contract market, and your against position’s insurance fund is insufficient to cover the loss caused by over loss.
- Changes to the Law. Changes to existing law may force OceanEx to change how our system works. In the event there are changes to existing law that OceanEx, in its sole discretion, determines require further changes to be made to our platform, including Perpetual Contact trading, OceanEx will make those changes as required. In such an event, OceanEx will disclose the changes in advance, provided there is an opportunity to make such disclosures, and OceanEx may be forced at such time to close any open positions you hold; the margin and profits will be cashed out and returned to you.
- Force Majeure. Due to the reasons beyond the control of OceanEx, such as earthquake, flood, fire and other force majeure factors or computer systems, communication system failures, etc., your order may not be filled or can not be completed, you may be responsible for the resulting losses. Please read our terms and conditions concerning indemnification and limitation on liability.
- Hedging transactions, like speculative trading, are also subject to risks arising from price fluctuations.
- KYC Disclosure. Please protect your access to your account. All customers using OceanEx’s system are responsible for their own account security. If you did not authenticate yourself in accordance with our KYC policy, or if you have not protected your account using Google verification, or if you lend your account to someone else, that may affect the security of your contract margin. You accept this responsibility and risk.
- Index. OceanEx determines prices for our Perpetual Contracts using an index of prices on other exchanges. OceanEx reserves the right to change this index, in its sole discretion. OceanEx may at times be required to change this index to include other exchanges for a price reference.
- Update. We reserve the right to update these Risk Disclosures and our Terms and Conditions at any time. Those changes become effective once we post them. You agree to be responsible for monitoring the changes to these terms.