Marketplace

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Overview

The Elements marketplace features central limit order books that follow a price-time priority model. The following trading pairs and order books are available:

Order Book Market Order Limit Order
BTC/USD Yes Yes
ETH/USD Yes Yes
ETH/BTC Yes Yes

Our marketplace operates 24 hours a day, seven days a week, except for brief maintenance periods, which we announce ahead of time on our Status Page and at @ElementsDAX.

You may submit as many orders as you like with any of the execution options described below. Elements is a full reserve exchange — all orders are fully funded — we do not offer margin trading. As a result, your outstanding interest on our orders books cannot exceed your account balance at any time and all open orders reduce your available balance until such orders are fulfilled or canceled.

Order Types

Elements supports the following order types and execution options:

Priority of Limit Orders

All limit orders at the same specified price are treated equally and executed in the order in which they were received. Partially filled resting limit orders retain their priority until canceled.

Periodic Review

We review our codebase, documentation, trading activity, and the order matching and auction process of our matching engine as part of our periodic review, which is performed in accordance with Principle 10 of the IOSCO Benchmark Principles.7,8

Trading Fee Schedule

For information on our trading fee schedule, please see our Trading Fee Schedule page.

Marketplace Conduct Rules

We have Marketplace Conduct Rules designed to prevent the use of Elements for manipulative conduct or deceptive practices, including, but not limited to, price manipulation. We take our Marketplace Conduct Rules very seriously and it is our policy to take all necessary steps to prohibit manipulative conduct or deceptive practices.

Marketplace Controls

In an effort to foster a fair and orderly market, we have put in place marketplace controls (Marketplace Controls). Our Marketplace Controls are as follows:

  • Orders: Automatic cancellation of any order,9 or the remaining portion of any order, on a continuous order book that would move the market price by more than 20% in either direction, as compared to the prior prevailing market price;
  • Self-trade prevention: We prohibit you from crossing with yourself on a continuous order book or with yourself on an auction order book.

We reserve the right to change and/or modify our Marketplace Controls pursuant to our User Agreement (see "Marketplace Controls").

Clearly Erroneous Transaction Policy

We reserve the right to declare a transaction null and void that we determine to be clearly erroneous pursuant to our User Agreement (see "Clearly Erroneous Transaction Policy").

Marketplace Disruptions

Errors or disruptions may occur on our exchange during the order entry, order matching, or trading process. If any such errors or disruptions occur, our Market Data Committee will review any orders and trades from such period. We reserve the right to cancel any order and/or reverse any trade, in whole or in part, in the event of an error or disruption and pursuant to our User Agreement (see "Erroneous Orders" and "Erroneous Trades"). Absent extraordinary circumstances, any such action taken by the Market Data Committee pursuant to our User Agreement will be taken as soon as practicable and within three business days of the detection of any erroneous order, erroneous trade, disruption, or malfunction. If you are involved in any such event, we will notify you as soon as practicable.

Downtime & Maintenance

We undergo scheduled maintenance every Friday from the hours of 7pm ET until 11pm ET or earlier. We also undergo scheduled FIX maintenance every Friday from the hours of 5:15pm ET until 8pm ET or until our scheduled general maintenance is completed. In the event that we experience downtime or perform maintenance outside of our weekly scheduled window, we will always do our best to pre-communicate details on our status page and at @ElementsDAX. For information on how orders are handled during downtime, please see the Order Handling section of our User Agreement.

Questions, Feedback & Complaints

If you have any questions, would like to provide feedback, or would like more information about Elements, please feel free to contact our customer support team.

If you would like to report a trading error or lodge a complaint,10 please contact our Customer Support Team using one of the following methods: