Company: CNCKW
Filing Date: 2025-03-27
Form Type: F-1/A
Source: 0001013762-25-003470
Chunk: 163

Company: Coincheck Group N.V.
Filing Date: 2025-03-27
Form: F-1/A
Chunk 163
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dealermargins. The spread is set/revised by us in a range of 0.1% to 5.0% for each cryptocurrency based on prevailing market conditions, including competitors’ offers. We hold the discretion to add a spread which might be higher than the above -mentionedrange in instances where there is sudden market movement and shortage of liquidity in the market to ensure the execution of the transactions with customers. The price of cryptocurrencies, reflecting our bid -askspreads, are displayed to our customers and generally updated every 10 seconds. Under our terms of service, a customer’s order is executed and settled immediately upon the customer’s acceptance of the quoted price and cannot be changed or canceled after that point. In order to ensure the execution and settlement of transactions with customers, we may utilize bid -askspreads greater than this range in the event of sudden market movements and shortage of liquidity in the market. There are no defined limits on the fees we charge, but under the Japanese cabinet orders applicable to crypto asset exchange service providers and the guidelines of the JVCEA we are required to provide information about the fees we charge to our customers. We provide explanatory materials regarding our bid -askspreads as well as fees for the completion of transfers and other services to customers at the time they open an account and also provide such information via our website and smartphone application. Our trading operations system is designed to offset any open position created by transactions with customers of our Marketplace platform to limit our exposure to price risk with respect to the crypto assets traded. After we accept a customer’s sale or purchase order for a particular crypto asset, our system will: •first offset any other transactions by customers in the same crypto asset; •compare our total exposure to the subject crypto asset against policy thresholds we have set, as of December31, 2024 a range from -¥4million to ¥5million for Bitcoin and a range from as low as -¥1.5million to ¥13million for each other crypto asset; and •execute a hedging or cover transaction with respect to the subject crypto asset when the threshold is exceeded with either a cover counterparty, meaning an outside exchange or other third party, or on our Exchange platform depending on where the highest liquidity is available. The customer’s sale or purchase of the crypto assets is reflected in our database when the sale or purchase order is settled on our platforms, resulting in the transfer of control over the crypto assets. With respect to a sale order, we execute cover transactions by selling our crypto assets held on