ORDER ROUTING & BEST EXECUTION

Price-Time Priority

Orders sourced from multiple liquidity pools and exchanges will end up being sorted based on price-time priority. This means that users no longer need to open an account at multiple exchanges and monitor prices across venues.

This automated process will help improve user experience and minimize friction for serious traders.

Diversity of Sources

Since orders are sourced from multiple sources, the effect of one source going offline is minimized. This helps diversify counterparty risks across multiple venues to ensure that no one trading venue exerts overwhelming bargaining power.

High Market Depth

With more liquidity sources connected, customers will be able to trade with high market depth that does not only depend on local traders. This helps larger traders execute orders with less slippage and hence at better prices and volumes.

Access to Global Liquidity

The majority of trading today occurs abroad. By providing users access to global markets, local customers will not be at a disadvantage. This also helps onboard customers that otherwise will transfer funds abroad to trade.

Additional Due Diligence

Customers have the benefit of trading with more confidence that Bitazza will perform additional due diligence on source exchanges and product listings. This helps reduce the probability of scams and losses.

Secure Custody of Assets

The majority of assets will be kept in cold storage run by a regulated entity locally. This helps increase the level of confidence and security for customer funds.

Reduced Foreign Exchange Risk

Orders are priced in local currency so customers do not have to worry about foreign exchange rate fluctuations. The company uses a real-time foreign exchange rate feed via OpenExchangeRates’ API. More information can be found at the following URL: https://openexchangerates.org.

Local Support

It is easier to contact customer support locally when things go wrong or when customers need help, as opposed to contacting foreign companies for help.

Transparency

The Company has adopted a "what-you-see-is-what-get" principle where prices quoted to customers are executed without further hidden costs. The customers shall be able to see the prices before final confirmation.

Transparency

The Company has adopted a “what-you-see-is-what-get” principle where prices quoted to customers are executed without further hidden costs. The customers shall be able to see the prices before final confirmation.

Pricing Spread

Liquidity pools may be sourced from abroad and may originally be priced in foreign exchange rates. The liquidity pooling system allows orders to be converted to Thai baht using a real-time price feed offered by OpenExchangeRates. As there are settlements between different parties, which includes transfer costs and hedging risks, there may be additional spread priced into the sourced liquidity. It is important to note that in the users’ perspectives, what you see is what you get. This means that there is no hidden spread and users will have the freedom to decide if they want to execute at certain prices.

Scope of Brokerage License

The Digital Asset Broker license allows Bitazza to route orders to be matched at external source exchanges and liquidity pools. It does not, however, allow orders to be matched locally. This means that the liquidity available to customers is based solely on liquidity sourced by Bitazza. Since source exchanges and liquidity pools have to be pre-funded by Bitazza, the Company may adjust the amount of orders made available to customers. For example, the Company may limit the size of individual orders to a certain threshold. This is to prevent Bitazza from quoting unexpectedly large orders whose pre-funded accounts are not ready to accept. Nonetheless, it is important to note that to customers, what you see is what you get.

Scope of Brokerage License

The Digital Asset Broker license allows Bitazza to route orders to be matched at external source exchanges and liquidity pools. It does not, however, allow orders to be matched locally. This means that the liquidity available to customers is based solely on liquidity sourced by Bitazza. Since source exchanges and liquidity pools have to be pre-funded by Bitazza, the Company may adjust the amount of orders made available to customers. For example, the Company may limit the size of individual orders to a certain threshold. This is to prevent Bitazza from quoting unexpectedly large orders whose pre-funded accounts are not ready to accept. Nonetheless, it is important to note that to customers, what you see is what you get.

Other Disclosures

  • Bitazza may derive certain benefits from increased trading volume on its platform, such as volume discount on trading fees, which may not be passed on to customers. This is due to the complexity of the order routing system across various liquidity pools, which may prevent Bitazza from providing a fair distribution of benefits to customers.
  • Bitazza will use commercially reasonable efforts to disclose forks, airdrops, and monetary benefits derived from holding digital assets. In the event that the Company will not support the trading of the forked or airdropped digital assets, the customers will be informed ahead of the event, using commercially reasonable efforts, that they should withdraw their digital assets to earn those benefits.
  • Users will be able to download their trading activities from the “Activity” tab. Customers are encouraged to download and store their trading activities on a regular basis.