Code of conduct - OKX Middle East Fintech FZE

1. INTRODUCTION

OKX Middle East FinTech FZE (“OKX Dubai”, “the Company”) holds an Exchange License under VARA which enables them to provide Exchange Services to its customers.

As a VASP providing Exchange Services, OKX Dubai is required to publish and enforce a Code of Conduct or other rules for all participants on the OKX Dubai trading venue.

By accepting the OKX Dubai Terms of Service, our customers agree to be subject to and bound by this Code of Conduct.

The Code of Conduct applies to all Participants who are deemed to accept this Code of Conduct by accessing and using the OKX Dubai Exchange.

Defined terms used are set out in Schedule 1 of this Code of Conduct.

2. PROHIBITED BEHAVIOURS

Participants are liable for their behaviour and their activities on the Exchange.

Participants are prohibited from engaging in any behaviour, act or omission that may amount to or is likely to cause a breach of the Terms of Service, VARA Rulebook and Applicable Laws. 

Such behaviour includes, but is not limited to, the following:

• Market Manipulation;

• Unlawful Disclosure; 

• Insider Dealing; 

• Using the Exchange to send, distribute, use or publish malicious computer software;

• Carrying out malicious attacks on the OKX Dubai systems (including a distributed denial of service attack) or

• Any other behaviour which would reasonably be considered abusive by OKX Dubai.

3. DISCIPLINARY ACTION

OKX Dubai has the right to implement and enforce disciplinary action against a Participant if it suspects that the Participant has engaged in any Prohibited Behaviour.

In implementing or enforcing disciplinary action, OKX Dubai has the right and power to issue, impose, require or collect the following;

a. warnings;

b. reprimands;

c. training;

d. qualification minimums;

e. remediation plans;

f. compliance audits;

g. restitution;

h. contractually agreed penalties;

i. conditions on trading;

j. trading prohibitions;

k. suspensions and restrictions to trading;

l. expulsions;

m. cancellation of a client’s orders and any outstanding instructions from that client;

n. report any breaches to VARA; and

o. criminal referrals.

VARA has the authority to pursue any additional remedies or disciplinary measures against Participants of the OKX Dubai Exchange as it may determine in its sole and absolute discretion. They can also delegate to OKX Dubai the ability to enforce such additional remedies or disciplinary measures upon their written consent. 

4. INVESTIGATIONS

If OKX Dubai has reason to suspect that a Participant has breached the Terms of Service, VARA Rulebook, Applicable Law or Prohibited Behaviour, OKX Dubai will carry out a full investigation into the behaviour.

a. Participants are expected to cooperate with OKX Dubai during the investigation process and provide OKX Dubai with all information, documents and access that it may require to properly carry out the investigation.

b. At the conclusion of the investigation, OKX Dubai will provide the Participant with a notice setting out its findings with the reasons for its determination.

5. DISCLOSURES TO VARA

OKX Dubai will report or provide to VARA any relevant item, documents or information in respect of this policy upon request by VARA . This includes, but is not limited to, any investigation reports and evidence collected by OKX Dubai.

Participants waive any duty of confidentiality where OKX Dubai may have relevant  information that OKX Dubai plans to disclose to VARA.

6. AMENDMENTS & EXCEPTIONS

OKX Dubai shall update /amend this Exchange Code of Conduct as and when required. Any updated versions will be published on the OKX Dubai Website.  

Participants will be given 10 days’ notice of any amendment to the Code of Conduct.

All amendments will take effect on the same date, when published on the OKX Dubai website.

Schedule 1

7. RECORD RETENTION

OKX Dubai shall maintain all records, including but not limited to customer agreements, contracts, customer instructions, transactions activities, audit, due diligence, etc., regarding custody services and staking services for at least eight [8] years or longer if requested by the regulatory authority. 

8. UPDATES AND AMENDMENTS 

The local Head of Compliance/MLRO is responsible for review and update, if required, of this policy.  Any changes or amendments of this policy must be documented by the local Head of Compliance/MLRO and approved by the local Board.