How the Cost of Using the Platform Is Calculated.

What You Pay For as a User

Minimal usage is free (see below), but any usage above the free usage threshold incurs a cost.

Charges are levied against the Owners of Markets. There is a flat fee per Market, per active day. There is a small fee per Order placed in each Market, and there is a fee per Fill created by an execution. Costs are only applied if a Market is in use, there is no subscription cost.

If a Market processes at least one Order during a calendar day, it incurs the Market charge for that day. If a Market is closed, or processes no Orders during the day, it does not incur a Market charge. This cost is levied because each open Market must be checked constantly for Orders to match.

When a User submits an Order to a Market, it generates a charge to the Market Owner. This is because the Order has to be processed and stored on the platform, so costs to the platform scale with the number of Orders entered. The cost of an Order is proportionally very small, relative to Fill fees and Market fees.

When Orders are matched and Fills are created, this also generates a charge to the Market Owner. The Fill is the end product of the Market. A Market that generates a lot of Fills should be providing good value for money to the Market Owner, as it is providing the Owner with the "correct" price that the traders want to trade at.

Freemium! The Free Usage Level

Each User gets one free Market, so that they can begin using the platform at minimal risk. "One free Market" means, in a charging period, say a month of 31 days, you get the use of one Market without charge for 31 Market-Days. If you have 3 Markets, but you only use them lightly, say one for 5 days, one for 10 days, and one for another 10 days, you have only used 25 of your 31 Market-Days, so the use of these 3 Markets is free. If you have 3 Markets and you use them heavily, every day in a month, you will use 93 Market-Days (3 x 31), and of these, the lowest-usage 31 Market-Days will be provided without charge. Any Orders or Fills in the free Markets are also free. If you only have one Market, and use it constantly, there will be no cost applied.

Fixed and Predictable Charging

Charging is not linked to the notional value of what is being traded. Indeed, you could run a Market that swaps two physical Tradeable Items, such as two agricultural products. You could also run a Market that uses a fantasy currency, for a video game for example. The value of what is being traded in the Market is not used to determine costs.

You will have knowledge of how many Markets you have, how many Orders are being placed and how many Fills are being created. This will allow you to plan and predict costs.

Payment

An invoice is sent to the email address associated with the User account. Invoices are, by default, generated monthly, but other periods can be arranged. Currently these invoices are created through Stripe, a third-party payment service provider. As such, this platform keeps no personal banking or payment details for Users, significantly reducing exposure to fraud.

If you decide that the service does not meet your needs, simply stop using it. Any outstanding invoices remain payable for usage already incurred. There are no costs for having a Market and not using it, or having an account that has fallen out of use. There is no ongoing subscription cost and no need to cancel.