Mistrade Rules
Due to various factors, there may be instances where options are traded at prices that result from abnormal or disorderly market conditions, creating a high likelihood that one party has unintentionally transacted at an erroneous price. In such circumstances, Coincall reserves the right to adjust the trade price or reverse the transaction.
1. Criteria for Trade Adjustment or Reversal
Coincall may consider a price adjustment or trade reversal only if the executed trade price deviates by more than the defined Mistrade Correction Value from the theoretical fair value (mark price) of the
option/perpetual at the time of execution.
For Options:
The Mistrade Correction Value is calculated by applying spot and volatility shocks, using the same methodology and formulas as the portfolio margin implementation.
• Spot shock: ±1% to ±2%
• Volatility up shock: +30% to +90%
• Volatility down shock: −20% to −60%
For Perpetual Contracts:
- BTC/ETH pairs: Price deviation between 1% - 5% of the index price
- Altcoin pairs: Price deviation between 5% - 25% of the index price
2. Process for Reporting a Mistrade
Any participant who believes a trade has been executed at a mispriced level must email support@coincall.com within 2 hours of execution with the trade details and rationale for the request.
Requests submitted beyond the 2-hour window will not be eligible for review.
3. Determination of Theoretical Price
The theoretical price of an option is generally represented by the mark price. However, as the mark price may not always align perfectly with theoretical models, Coincall may consult with primary market makers on the platform to determine a fair theoretical value at the time of execution.
In the event of discrepancies, Coincall will rely on the consensus and recommendation of these market makers to determine the final theoretical price.
4. Limitations and Recovery
If a mistrade request is validated but the counterparty has already withdrawn funds, and Coincall is unable to fully recover the necessary amount from their account, the price adjustment will be made only up to the retrievable amount.
Coincall's insurance fund will not be used to cover any shortfall resulting from mistrades.
The Mistrade Policy also applies to futures transactions. A futures trade may be deemed a mistrade if its execution price deviates materially from the prevailing fair market price, or if it results from technical issues or other abnormal circumstances. In such cases, the Exchange reserves the right to cancel, amend, or re-book the trade. Any undue profit resulting from such a futures mistrade will be subject to clawback in accordance with this policy
Disclaimer Clause:
Coincall shall not be liable for any losses arising from or related to the execution of trades at off-market prices unless caused by gross negligence or willful misconduct on the part of Coincall.
Finality Clause:
Coincall reserves sole discretion to approve or reject any mistrade adjustment request. All decisions made by Coincall regarding price adjustments or trade reversals are final and binding.
Abuse Prevention:
Any abuse of the mistrade adjustment process may result in restrictions, account suspension, or termination, at Coincall’s discretion.
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