Risk Control Instructions
To ensure a fair trading experience for all community users, standardize market trading conduct, and protect investors’ rights and interests, the McnEx system adopts multi-dimensional feature identification to detect improper activities including illegal arbitrage via multiple accounts or devices, such as fee churning, rebate arbitrage, bonus farming, hedging and other abusive practices. Once confirmed, the platform will take corresponding disciplinary measures, including but not limited to real-name authentication verification, account suspension, asset freezing, and login restrictions.
1. Definition and Disposal of Abnormal Trading Conduct
Definition of Abnormal Trading Conduct
• Excessive market trading: excessively large intraday position opening volume
• Self-dealing / self-matching transactions
• Combined positions of affiliated accounts exceeding exchange limits
• Manipulating the market through cross-trading and matched orders among affiliated accounts
• Unauthorized account trading: stealing account credentials and transferring funds
• Order churning / fake trading volume
• Non-compliant quantitative or arbitrage trading
• AB arbitrage account trading
• High-frequency algorithmic trading
• Abnormal convergent trading between affiliated accounts
• Operating trading accounts on behalf of others
• Malicious ultra-short-term trading: holding period less than 3 minutes, or regular short-term trading via the following methods:
◦ Copy-trading for ultra-short-term speculation
◦ Using numerous small orders to conceal large orders
◦ Executing trades via take-profit, stop-loss, limit orders and planned orders
• Price manipulation and other malicious market conduct
• Exploiting platform loopholes or improper means to harm the interests of other users or the platform
• Engaging in any other conduct deemed by McnEx to be detrimental to market order
• Operating multiple devices or multiple accounts to arbitrage or claim promotional benefits
Disposal Measures for Abnormal Trading
• Immediately terminate account and server access, and forfeit all illegal gains
• Declare ultra-short-term trading orders invalid
• Close non-compliant positions at prevailing market prices
2. Definition & Disposal of Matched Trading, Order Churning, AB Accounts and High-Frequency Violations
Definition of Matched Trading
• Unauthorized matched trading: stealing user accounts and transferring funds through cross-matched orders
• Affiliated account matched trading: illegally transferring profits or losses internally among related accounts
• Fiduciary matched trading: trading between a principal’s account and the operator’s own account as counterparty
• Affiliation determination criteria: similar registration time / IP address, identical deposit and withdrawal addresses, etc.
Characteristics of Order Churning, AB Account Trading and High-Frequency Trading
• Multiple accounts placing large orders in the same product, same direction and at the same price
• Multiple accounts opening and closing hedging positions in opposite directions
• Executing a large number of position opening and closing operations within an extremely short time frame
Disposal Rules
In accordance with platform rules, violators will be subject to:
• Formal warning and rectification order
• Confiscation of illegal proceeds
• Forced position liquidation or account freezing
• Suspension of position opening privileges or permanent account ban
• Public reprimand or market access restriction for serious violations
• Referral to judicial authorities if suspected of illegal conduct
3. Platform Management Rights Over Unfair Trading
McnEx reserves the right to directly impose account control measures if users engage in the following conduct:
• Price manipulation or malicious market behavior
• Profiting by exploiting platform loopholes or improper means
• Any act that causes harm to the market
• Using multiple devices or multiple accounts to churn fees, claim rebates, bonuses or promotional rewards
• Unauthorized participation in official activities or unauthorized operational behavior
Important Notes
The final interpretation right of the User Trading Conduct Standards belongs exclusively to McnEx Exchange. All users shall voluntarily comply with relevant regulations and maintain a fair, secure and transparent trading environment.