This Best Execution Policy is based on the Cabinet Office Ordinance No. 23-3, and has been established as a policy to execute customers’ exchange of crypto assets orders, etc., in the best terms possible.
1. Crypto Assets Subject
The handled crypto assets at BTCBOX are Bitcoin（BTC），Bitcoin Cash（BCＨ），Ethereum（ETH）），Litecoin（LTC）
2. Method For Execution with Best Transaction Term
The Company shall provide 2 methods of transaction with respect to some of the handled crypto assets: Point Of Sale Transaction (a transaction in which the Company acts as a counterparty for a customer to buy, sell or exchange crypto assets with another crypto asset) and Exchange Transaction (a transaction handled by the Company for the purchase and sale of crypto assets between users and for the exchange of crypto assets with other crypto assets).
・Point of Sale Bext Execution Policy
The price shall be quoted with reference to the average quoted prices on several domestic and foreign exchanges, as well as take the Company’s inventory status and some other factors into account.
・Best Execution Policy for Exchanges
Execution shall be carried out according to a time and price priority, and based on an Agreement Processing Standard criteria set by the Company.
3. Reason for Choosing an Applicable Method
Based partly on customer demand for some crypto assets and liquidity, the Company shall offer 2 trading methods, and judge if the above-mentioned providence of multiple transactions methods are reasonable for the customer. Customers are free to choose which method of transaction they wish to use.
In case of a system error, inevitably a different method may be executed than choosing a method based on Best Execution Policy inevitably. Even in such cases, we will strive to execute at the best terms possible at that point of time.
Best Execution Policy Obligation is to execute by taking not only the price into account, but the cost, speed, certainty of execution etc., as well. Hence, even if it would not be considered the best with the focus only on the price, that alone does not necessarily constitute a breach of the Best Execution Policy Obligation.