1. Introduction
This Agreement governs your access to and use of the Pionew Ireland Limited (“PIL”) trading platform. By creating an account, you agree to comply with these Operating Rules, which are designed to ensure a fair, transparent, and orderly market for crypto-assets.
2. Eligibility & Onboarding (KYC/AML)
To “survive” regulatory scrutiny, PIL maintains strict onboarding standards:
- Verification: You must complete our Identity Verification (KYC) process.
- Prohibited Jurisdictions: You may not use our services if you are a resident of a sanctioned or restricted jurisdiction as defined in our Anti-Money Laundering Policy.
3. Admission of Crypto-Assets
PIL only lists crypto-assets that meet our internal risk assessment criteria. We reserve the right to delist any asset for security, regulatory, or liquidity reasons. Users will be notified in advance of any delisting to allow for the withdrawal of funds.
4. Trading Rules (OrderBook & Execution)
- Order Types: We support Limit Orders and Market Orders.
- Matching Logic: Orders are matched based on Price-Time Priority. The best price is matched first; if prices are equal, the order placed earlier takes precedence.
- No Reversals: Once an order is executed and matched on the OrderBook, the transaction is final and irreversible.
5. Custody & Fiat Services
- Segregation: As detailed in our Safeguarding Disclosure, your assets are held in segregated accounts.
- Fiat Republic / Banking Circle: Your Euro deposits are handled via our regulated banking partners. PIL does not credit your account until funds are confirmed as received by our banking partners.
6. Market Integrity & Prohibited Conduct
To protect our MiCAR license, PIL has zero tolerance for market abuse. Prohibited actions include:
- Wash Trading: Entering into transactions where there is no change in beneficial ownership.
- Self-Trading: Matching your own buy and sell orders.
- Market Manipulation: Any action intended to deceive or mislead other market participants regarding price or volume.
- Sanction: PIL uses automated surveillance tools to detect such behavior. Violations will result in immediate account suspension and reporting to the Central Bank of Ireland (CBI).
7. Fees
PIL charges fees for trading and withdrawals. Our current Fee Schedule is transparently displayed on the “Fees” page of our website. Fees are deducted at the time of transaction execution.
8. System Resilience & Liability (DORA Alignment)
- Service Availability: While we strive for 24/7 uptime, PIL is not liable for losses resulting from scheduled maintenance or unforeseen technical failures beyond our control.
- ICT Security: In compliance with DORA, PIL maintains robust digital resilience. However, you are solely responsible for securing your login credentials and API keys.
9. Dispute Resolution
If you have a complaint, please refer to our Complaints Handling Policy. If we cannot resolve the issue, you may have the right to escalate the matter to the Financial Services and Pensions Ombudsman (FSPO) in Ireland.