Appendix A
June 2021March 2022

LedgerX Participant Agreement

I. Services.

LedgerX LLC d/b/a FTX US Derivatives (the “Company”) is registered with the U.S. Commodity 

Futures Trading Commission (“CFTC”) as the operator of a designated contract market (“DCM”), 

a swap execution facility (“SEF”) and a derivatives clearing organization (“DCO”). Participant 

wishes to receive access to certain services pursuant to this Agreement (“Services”). 

LedgerXCompany is willing to provide such Services to Participant pursuant to the terms of this 

Agreement. Participant agrees to be bound by the terms of this Agreement, and the LedgerX

Rulebook (defined below). LedgerXCompany will provide Participant with access to a system or 

a platform for execution of Transactions as provided in the LedgerX Rulebook and as required by 

the U.S. Commodity Exchange Act, as amended (the “Act”).

II. Definitions.

Capitalized terms used but not defined herein have the respective meanings given to them in 

the LedgerX Rulebook. 

III. Participant Eligibility.

By executing this application and whenever using the Services, the undersigned hereby represents 

and warrants that Participant meets the eligibility requirements as set forth in Rule 3.2 of the 

LedgerX Rulebook, as amended from time to time, and if trading through the SEF is an Eligible 

Contract Participant (“ECP”). Further, each time such Participant or any of its Authorized 

Representatives enters an order, effects a transaction or otherwise uses the Services, Participant 

represents, warrants and reaffirms that Participant meets the eligibility requirements as set forth in 

Rule 3.2 of the LedgerX Rulebook, and if trading through the SEF is an ECP.

IV. Participant Obligations and Consent to Jurisdiction of LedgerXCompany.

Participant shall pay the fees and charges for the Services as specified and revised from time to 

time on the LedgerXCompany website ("Website"), located at derivs.ftx.uswww.ledgerx.com. 

The fees and charges for the Services are enumerated on the Website. LedgerXCompany will 

notify Participant of any change to such fees and charges by means of a Website post, and any 

such changes will be effective 10 days after LedgerXCompany posts such amended fees on the 

Website. Following the expiration of such 10-day period, the fees schedule on the Website will 

be deemed amended accordingly. Participant’s continued use of Services after the expiration of 

the 10-day period will constitute Participant’s agreement to pay the amended fees and charges for 

the Services.

Participant hereby acknowledges and agrees that it has received and read the rules and regulations 

established by LedgerXCompany applicable to the Services contained in the LedgerXCompany

rules (as supplemented or amended from time to time, the "LedgerX Rulebook"). Further, 

Participant agrees to be and will be bound by, and will comply with, the LedgerX Rulebook as 
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amended from time to time. In the event of any conflict between this Agreement and the LedgerX

Rulebook, the Rulebook will govern. 

Participant hereby consents to the jurisdiction of LedgerXCompany. Upon the prior written 

request of LedgerXCompany, Participant will promptly (but in any event, within five Business 

Days) provide to LedgerXCompany such information about itself and its Authorized 

Representatives as LedgerXCompany requests. 

Participant hereby agrees that it will only allow itself or its duly authorized employees and 

representatives, in each case previously identified to LedgerXCompany, to access or use the 

Services. Participant agrees to accept full responsibility for any transactions effected on the 

Platform and for any use of the LedgerXCompany DCM made by it or made pursuant to the login 

information of Participant or its Authorized Representatives. Participant will be financially 

responsible for such trades even if the orders received via the LedgerXCompany DCM were (1) 

entered as a result of a failure in security controls and/or credit controls, other than due to the gross 

negligence of LedgerXCompany, or (2) entered by an unknown or unauthorized user using the 

login credentials of Participant or its Authorized Representatives.

V. Participant’s Representations and Warranties.

Participant hereby represents, warrants and covenants to LedgerXCompany, and each time such 

Participant or any of its Authorized Representatives enters an order, effects a transaction or 

otherwise uses the Services, that Participant will be deemed by such act to represent, warrant and 

covenant to LedgerXCompany the following:

A. if such Participant is not a natural person, Participant is duly organized, validly existing and in 

good standing under the laws of its jurisdiction of organization and each other jurisdiction in which 

the nature or conduct of its business requires such qualification;

B. if such Participant is an individual, Participant is of the age of majority in the individual’s place of 

residence;

C. such Participant has all requisite legal authority and capacity to enter into this Agreement and to 

use the Services on its own behalf and to perform its obligations as a Participant;

D. such Participant will maintain during the term of this Agreement all required and necessary 

regulatory approvals and/or licenses to operate as a Participant;

E. such Participant and its Authorized Representatives are and will be in compliance with all material 

respects of the Act, CFTC Regulations and all other applicable laws, rules, regulations, judgments, 

orders and rulings of any governmental authority or self-regulatory organization, authority, 

agency, court or body, including the laws of any jurisdiction applicable to an Order or Transaction 

(collectively, “Applicable Law”) (including data protection and privacy laws and laws with respect 

to recording messages of Participant employees, including providing and obtaining required 

notices or consents); and

F. Participant is not statutorily disqualified from acting as a Participant and that there is, to the best 

of its knowledge, no pending or threatened action, suit or proceeding before or by any court or 

other governmental, regulatory or self-regulatory body, to which Participant is a party, that seeks 

to affect the enforceability of this Agreement or its ability to act as a Participant.
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VI. Participant Acknowledgments.

Participant further acknowledges and agrees that:

A. it is fully aware of the speculative nature and high risk associated with the Services referred to in 

this Agreement and of derivatives, futures, swaps, and options trading generally (including the 

risk that Participant or its Authorized Representatives may incur trading losses);

B. it is fully aware that if Participant transfers digital currency away from LedgerXCompany, that 

transfer is immediately irreversible once effectuated, that Participant is solely responsible for 

designating the correct destination and maintaining the ability to access and control the transferred 

digital currency, and that LedgerXCompany accepts no responsibility for Participant’s ability to 

access or control any digital currency transferred away from LedgerXCompany by Participant;

C. it is fully aware of, acknowledges, and agrees to LedgerXCompany’s Digital Currency Fork policy 

set forth in Rule 11.14 of the LedgerX Rulebook;

D. it will abide by and be subject to the LedgerX Rulebook, as now existing and as hereafter duly 

amended from time to time, including the obligation to submit to arbitration or the jurisdiction of 

the State or Federal courts located within the City of New York in accordance with Rules 10.1 -

10.5, 11.5 and 11.6 of the LedgerX Rulebook;

E. Participant agrees to be bound by, and comply with, this Agreement, and amendments to this 

Agreement, solely by Participant’s or its Authorized Representatives’ access or use of the Services;

F. notwithstanding the above, amendments to this Agreement are automatically effective unless, 

within ten days of the change, Participant: (1) ceases using the Services, (2) does not enter into 

any further trades of any kind on the Platform, and (3) gives notice to LedgerXCompany to arrange 

for the closing of its Accounts;

G. this Agreement is enforceable against Participant, and against each of its Authorized 

Representatives directly, through the dispute resolution procedures in this Agreement and 

the LedgerX Rulebook;

H. its status as a Participant may be limited, conditioned, restricted or terminated by the Board in 

accordance with the LedgerX Rulebook;

I. it will provide such other information as may be reasonably requested by LedgerXCompany from 

time to time as may be necessary or desirable to verify its qualifications as a Participant;

J. it authorizes LedgerXCompany to verify, on an initial and a periodic basis, by investigation, the 

statements in the application materials provided to LedgerXCompany, which may include a 

criminal background check, a review of Participant’s credit report, and such other action 

reasonably deemed necessary by LedgerXCompany;

K. it authorizes any governmental, regulatory or self-regulatory body, futures exchange, swap 

execution facility, securities exchange, national securities association, national futures association, 

bank or other entity to furnish to LedgerXCompany, upon its request, any information such entity 

may have concerning Participant, and Participant hereby releases such entity from any and all 

liability of whatsoever nature by reason of furnishing any such information to LedgerXCompany;

L. it hereby authorizes LedgerXCompany to make available to any governmental, regulatory or selfregulatory body, futures exchange, swap execution facility, securities exchange, national securities 

association, national futures association, bank or other entity (upon such entity’s showing of proper 

authority and need) any information LedgerXCompany may have concerning Participant, and it 

hereby releases LedgerXCompany from any and all liability of whatsoever nature by reason of 

furnishing any such information;
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M. it will not fraudulently deposit funds into its Participant Account, Collateral Account, Cleared 

Swaps Customer Account, Proprietary Account or any other account associated with this 

Agreement or the use of LedgerXCompany’s services (individually, an “Account” and 

collectively, the “Accounts”);

N. it hereby authorizes LedgerXCompany to deduct from its Accounts maintained on the books and 

records of LedgerXCompany all fees or other charges accruing to Participant, including legal fees 

and costs;

O. it hereby authorizes LedgerXCompany to cancel, reverse, close out or transfer Participant’s or its 

Authorized Representatives’ position or terminate its Accounts at LedgerXCompany’s sole 

discretion, and without prior reference to the Participant or its Authorized Representatives, 

provided that the position is not sufficiently collateralized, as determined in the sole and absolute 

discretion of LedgerXCompany; 

P. it will be responsible to LedgerXCompany for payment of any deficiency remaining in 

Participant’s Account should an Account be liquidated or terminated;

Q. it will keep confidential all information related to the Settlement Bank, including but not limited 

to the name of such Settlement Bank, account numbers, and bank personnel, except as necessary 

to perform LedgerXCompany-related transfers;

R. upon each transfer of Underlying to LedgerXCompany, it will pledge to LedgerXCompany a firstpriority security interest in such Underlying, and it authorizes LedgerXCompany to make transfers 

of such Underlying in accordance with the LedgerX Rulebook;

S. it hereby declares that the statements in this Agreement and in any application materials provided 

to LedgerXCompany are true, complete and accurate, and that it will promptly notify 

LedgerXCompany in writing if any representation, warranty or covenant made herein changes or 

ceases to be true; 

T. it will be solely responsible, at its own risk and expense, for (1) acquiring, installing and 

maintaining all equipment, hardware and software (other than any applications, algorithms, 

software, interfaces or code that LedgerXCompany may provide to such Participant pursuant to 

the terms of this Agreement for purposes of accessing and utilizing the Platform (collectively, 

“Trading Tools”) and the Platform), internet access, telecommunications, and network systems 

necessary and compatible for it to access and use the Platform and Trading Tools and (2) ensuring 

that any systems, facilities, servers, routers, and other equipment and software it uses to access and 

use the Platform and Trading Tools are at all times protected by, and at all times comply with, all 

applicable information security and firewall precautions, at a level of security not less than that 

prevailing in the industry;

U. LedgerXCompany cannot guarantee electronic access to the Platform if Participant’s internet 

service is down or disconnected, and that LedgerXCompany is not responsible for any losses due 

to Participant’s inability to connect to the Platform when Participant’s internet service is down or 

disconnected;

V. it will comply with any security polices applicable to Participant set forth on the Website; 

W. it consents to the electronic delivery of all tax forms, including, without limitation, IRS Form 1099-

B, or such other tax forms as LedgerXCompany may determine are required; and

X. it is obligated to update any and all information contained in any part of this Agreement for so 

long as Participant receives access to Services pursuant to this Agreement.

VII. Third-Party Exchange Participants: Representations, Warranties and Acknowledgments.
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Participants and their Authorized Representatives who trade through third-party exchanges and 

clear those trades through LedgerXCompany (hereinafter collectively, “Third-Party Exchange 

Participants”), hereby agree to be bound, and to comply with, all provisions in this Agreement to 

the same extent as other Participants and Authorized Representatives. Third-Party Exchange 

Participants and their Authorized Representatives hereby affirm all representations, warranties, 

covenants and acknowledgments in this Agreement, including but not limited to the 

acknowledgment that this Agreement is enforceable by LedgerXCompany against Third-Party 

Exchange Participants and their Authorized Representatives directly, through the dispute 

resolution procedures in this Agreement and the LedgerX Rulebook. Additionally, each ThirdParty Exchange Participant and each of their Authorized Representatives agrees to be bound by 

and to comply with the LedgerX Rulebook.

LedgerXCompany may seek any legal, regulatory or similar claims against a Third-Party 

Exchange Participant and each of its Authorized Representatives in the same manner it would 

pursue such an action against other Participants and their Authorized Representatives. For the 

avoidance of doubt, unless expressly stated herein, nothing in this Agreement shall prevent 

LedgerXCompany or its agents from pursuing any claims, liabilities and expenses arising from the 

conduct of a Third-Party Exchange Participant or its Authorized Representatives (including 

attorneys’ fees, out of pocket expenses, costs and disbursements). For purposes of this Agreement, 

each Third-Party Exchange Participant shall be deemed to be a “Participant,” unless otherwise 

noted herein, and all terms of this Agreement pertaining to Participants also pertain equally to 

Third-Party Exchange Participants. All terms of this Agreement pertaining to Authorized 

Representatives also pertain equally to any agent or representative of a Third-Party Exchange 

Participant.

VIII. Indemnity.

Participant hereby agrees to indemnify and hold harmless LedgerXCompany and its directors, 

officers, employees, members, affiliates and agents (each, a “Related Party”) from and against all 

expenses and costs and damages (including any legal fees and customary expenses), directly and 

actually incurred by LedgerXCompany (including consequential damages awarded to the third 

party) as a result of third-party claims resulting from, in connection with, or arising out of 

Participant’s use of the Services or activities of Participant or arising out of or relating to this 

Agreement, including any failure by Participant, for any reason, fraudulent, negligent, or 

otherwise, to comply with its obligations and requirements set forth in this Agreement, or any 

failure of Participant to comply with the agreements, representations or covenants contained in 

this Agreement. 

Within 10 Business Days after LedgerXCompany receives written notice of a claim that 

LedgerXCompany reasonably believes falls within the scope of this paragraph, LedgerXCompany

will provide Participant with written notice of that claim, provided, however, that failure to provide 

such notice will not relieve Participant of its indemnity obligations hereunder except to the extent 

Participant is materially prejudiced thereby and Participant will not be responsible for those 

expenses, costs and damages that LedgerXCompany incurs solely as a result of any such delay. 

Participant’s indemnity obligation will not apply to the extent there has been a final determination 

(including exhaustion of any appeals) by a court or arbitrator of competent jurisdiction that the 
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expense, cost or damage arose from LedgerXCompany’s gross negligence, fraud or willful 

misconduct.

IX. Limited Warranty and Limitation of Liability.

The LedgerXCompany rules concerning liability and warranties (including without limitation Rule 

11.7 of the LedgerX Rulebook, and any successor Rules thereto) are incorporated herein by 

reference and apply with the same force and effect as if they were reproduced in their entirety in 

this Agreement. Those LedgerXCompany rules set out the entire liability of LedgerXCompany to 

Participant. All other liability of LedgerXCompany under or in connection with this Agreement 

is excluded, except to the extent that it is not permitted to be excluded by Applicable Law.

X. Data Use Consent.

Participant hereby grants LedgerXCompany a worldwide, perpetual, irrevocable, royalty-free, full 

sublicensable and freely assignable license to store, use, copy, display, disseminate and create 

derivative works from: (1) the price and quantity data for each Transaction entered into by 

Participant that is executed via the Services and (2) each bid, offer and/or Order provided via the 

Services by Participant. Participant acknowledges and agrees that LedgerXCompany may use 

such information for business, marketing and other purposes.

XI. Market Information; No Warranty.

LedgerXCompany may make available to Participant a broad range of financial information that 

LedgerXCompany obtains from third-party service providers, including financial market data, spot 

market data, quotes, news, analyst opinions, links to other third-party sites and research reports 

(hereinafter, “Market Information”). LedgerXCompany does not endorse or approve Market 

Information, and we make it available to Participant and its Authorized Representatives only as a 

service and convenience. LedgerXCompany and its third-party service providers do not (1) 

guarantee the accuracy, timeliness, completeness or correct sequencing of Market Information, or 

(2) warrant any results from the use or reliance on Market Information. LedgerXCompany

expressly disclaims and makes no warranty of merchantability, fitness for a particular purpose or 

use, or non-infringement. There is no other warranty of any kind, express or implied, regarding 

the Market Information.

Market Information may quickly become unreliable for various reasons including, for example, 

changes in market conditions or economic circumstances. Neither LedgerXCompany nor the 

third-party service providers are obligated to update any information or opinions contained in any 

Market Information, and LedgerXCompany may discontinue offering Market Information at any 

time without notice. Participant and its Authorized Representatives agree that neither 

LedgerXCompany nor the third-party service providers will be liable in any way for the 

termination, interruption, delay or inaccuracy of any Market Information. Participant and its 

Authorized Representatives agree not to redistribute or facilitate the redistribution of Market 
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Information, and agree not to provide access to Market Information to anyone who is not 

authorized by LedgerXCompany to receive Market Information.

XII. No Investment Advice or Recommendations.

Participant hereby acknowledges and agrees that LedgerXCompany provides no legal, tax, 

investment, financial or other advice, and nothing contained in the Services constitutes a 

solicitation, recommendation, endorsement or offer by LedgerXCompany to buy or sell any 

commodity derivative, future, option or swap. Participant assumes the sole responsibility of 

evaluating the merits and risks associated with the use of the Services before making any 

investment decisions, and Participant agrees not to hold LedgerXCompany liable for any possible 

claim for damages arising from any decision made based on the Services, information or Market 

Information made available to Participant or its Authorized Representatives by or through 

LedgerXCompany.

XIII. Netting Program.

Participant hereby acknowledges that LedgerXCompany provides a netting program (the “Netting 

Program”) as described on the Website, which is made a part of, and incorporated by reference 

into, this Agreement. Participant hereby chooses to opt in or opt out of such Netting Program as 

elected on the signature page hereto.

XIV. Amendments to the Agreement.

LedgerXCompany may modify any of the terms and conditions that are set forth in this Agreement 

by providing not less than ten days prior written notice to Participant. Participant acknowledges 

and agrees that such notice is sufficient if posted to the LedgerXCompany website as a regulatory 

notice under “Regulatory Notices” and that no other or additional form of notice, actual or 

constructive, is required. If Participant does not consent to the modification, Participant may 

terminate this Agreement by sending a written notice of termination of its Accounts to 

LedgerXCompany at gc@ledgerx.com legal.derivs@ftx.us within ten days of receiving 

notification of the modification from LedgerXCompany. Any such termination will be effective 

as of the date on which the modification would have taken effect. In the event a Participant does 

not consent to the modification of this Agreement, and objects to the modification in a timely 

fashion as set forth above, then Participant (1) agrees to stop using the Services immediately, (2) 

agrees that neither it nor its Authorized Representatives will enter into any further trades of any 

kind on LedgerXCompany’s system, (3) grants LedgerXCompany the authority to close any open 

positions immediately, and (4) agrees it will be responsible to LedgerXCompany for payment of 

any deficiency remaining in Participant’s Accounts after the closing of such positions. 

XV. Termination.

Subject to Applicable Law and the LedgerX Rulebook, LedgerXCompany or Participant may 

terminate this Agreement by giving the other prior written notice. Termination of this Agreement 

will not affect liability accrued as of termination. Sections V through XII, XIV, XVIII, and XXI

will survive termination of this Agreement and continue in full force and effect.
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In the event Participant elects to terminate this Agreement, then Participant (1) agrees to stop using 

the Services immediately, (2) agrees that neither it nor its Authorized Representatives will enter 

into any further trades of any kind on LedgerXCompany’s system, (3) grants LedgerXCompany

the authority to close any open positions immediately, and (4) agrees it will be responsible to 

LedgerXCompany for payment of any deficiency remaining in Participant’s Account after the 

closing of such positions.

XVI. Complete Agreement.

This document incorporates herein by reference the Company User Agreement and the Company

Privacy Policy, both available on the Company website at https://derivs.ftx.us/legal, and any 

amendments thereto. 

This Agreement constitutes the entire contract between the parties relative to the subject matter 

hereof. Any other previous agreement among the parties with respect to the subject matter hereof 

is superseded by this Agreement. Nothing in this Agreement, expressed or implied, is intended to 

confer upon any person (other than the parties hereto, their respective successors and assigns 

permitted hereunder) any rights, remedies, obligations or liabilities under or by reason of this 

Agreement.

XVII. Severability.

In the event that any one or more of the provisions contained in this Agreement should be held 

invalid, illegal or unenforceable in any respect, the validity, legality and enforceability of the 

remaining provisions contained herein and therein shall not in any way be affected or impaired 

thereby (it being understood that the invalidity of a particular provision in a particular jurisdiction 

shall not in and of itself affect the validity of such provision in any other jurisdiction). The parties 

shall endeavor in good-faith negotiations to replace the invalid, illegal or unenforceable provisions 

with valid provisions the economic effect of which comes as close as possible to that of the invalid, 

illegal or unenforceable provisions.

XVIII. Counterparts.

This Agreement may be executed in counterparts (and by different parties hereto on different 

counterparts), each of which shall constitute an original but all of which when taken together shall 

constitute a single contract. 

Each party agrees that electronic signatures of the parties included in this Agreement are intended 

to authenticate this writing and to have the same force and effect as manual signatures. Electronic 

signature means any electronic sound, symbol or process attached to or logically associated with 

a record and executed and adopted by a party with the intent to sign such record pursuant to the 

New York Electronic Signatures and Records Act (N.Y. State Tech. §§ 301-309) as amended from 

time to time. Delivery of an electronic signature to this Agreement shall be as effective as delivery 

of an original signed counterpart of this Agreement.
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XIX. Assignment.

Participant may not assign this Agreement, in whole or in part, without the prior written consent 

of LedgerXCompany.

XX. USA PATRIOT Act Notice.

LedgerXCompany hereby notifies Participant that pursuant to the requirements of the USA 

PATRIOT Act, it is required to obtain, verify and record information that identifies Participant, 

which information includes the name and address of Participant and other information that will 

allow LedgerXCompany to identify Participant in accordance with the USA PATRIOT Act.

XXI. Governing Law.

This Agreement will be governed by and construed in accordance with the laws of the State of 

New York. Any dispute between LedgerXCompany and Participant or its Authorized 

Representatives arising from or in connection with this Agreement will be settled through 

arbitration or the State or Federal courts located within the City of New York in accordance with 

Rules 10.1 - 10.5, 11.5 and 11.6 of the LedgerX Rulebook. 

XXII. Click “I agree” for Your Signature.

As noted above in Section XVIII, Participant will be signing this Agreement with a valid and 

binding electronic signature by clicking “I agree,” and Participant acknowledges that it has read 

and understood this Agreement’s terms and conditions.

* * *
Appendix B
March 2022

Participant Agreement

I. Services.

LedgerX LLC d/b/a FTX US Derivatives (the “Company”) is registered with the U.S. Commodity 

Futures Trading Commission (“CFTC”) as the operator of a designated contract market (“DCM”), 

a swap execution facility (“SEF”) and a derivatives clearing organization (“DCO”). Participant 

wishes to receive access to certain services pursuant to this Agreement (“Services”). Company is 

willing to provide such Services to Participant pursuant to the terms of this Agreement. Participant 

agrees to be bound by the terms of this Agreement, and the Rulebook (defined below). Company

will provide Participant with access to a system or a platform for execution of Transactions as 

provided in the Rulebook and as required by the U.S. Commodity Exchange Act, as amended (the 

“Act”).

II. Definitions.

Capitalized terms used but not defined herein have the respective meanings given to them in 

the Rulebook. 

III. Participant Eligibility.

By executing this application and whenever using the Services, the undersigned hereby represents 

and warrants that Participant meets the eligibility requirements as set forth in Rule 3.2 of the 

Rulebook, as amended from time to time, and if trading through the SEF is an Eligible Contract 

Participant (“ECP”). Further, each time such Participant or any of its Authorized Representatives 

enters an order, effects a transaction or otherwise uses the Services, Participant represents, 

warrants and reaffirms that Participant meets the eligibility requirements as set forth in Rule 3.2 

of the Rulebook, and if trading through the SEF is an ECP.

IV. Participant Obligations and Consent to Jurisdiction of Company.

Participant shall pay the fees and charges for the Services as specified and revised from time to 

time on the Company website ("Website"), located atderivs.ftx.us. The fees and charges for the 

Services are enumerated on the Website. Company will notify Participant of any change to such 

fees and charges by means of a Website post, and any such changes will be effective 10 days after 

Company posts such amended fees on the Website. Following the expiration of such 10-day 

period, the fees schedule on the Website will be deemed amended accordingly. Participant’s 

continued use of Services after the expiration of the 10-day period will constitute Participant’s 

agreement to pay the amended fees and charges for the Services.

Participant hereby acknowledges and agrees that it has received and read the rules and regulations 

established by Company applicable to the Services contained in the Company rules (as 

supplemented or amended from time to time, the "Rulebook"). Further, Participant agrees to be 

and will be bound by, and will comply with, the Rulebook as amended from time to time. In the 

event of any conflict between this Agreement and the Rulebook, the Rulebook will govern. 
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March 2022

Participant hereby consents to the jurisdiction of Company. Upon the prior written request of 

Company, Participant will promptly (but in any event, within five Business Days) provide to 

Company such information about itself and its Authorized Representatives as Company requests. 

Participant hereby agrees that it will only allow itself or its duly authorized employees and 

representatives, in each case previously identified to Company, to access or use the Services. 

Participant agrees to accept full responsibility for any transactions effected on the Platform and for 

any use of the Company DCM made by it or made pursuant to the login information of Participant 

or its Authorized Representatives. Participant will be financially responsible for such trades even 

if the orders received via the Company DCM were (1) entered as a result of a failure in security 

controls and/or credit controls, other than due to the gross negligence of Company, or (2) entered 

by an unknown or unauthorized user using the login credentials of Participant or its Authorized 

Representatives.

V. Participant’s Representations and Warranties.

Participant hereby represents, warrants and covenants to Company, and each time such Participant 

or any of its Authorized Representatives enters an order, effects a transaction or otherwise uses the 

Services, that Participant will be deemed by such act to represent, warrant and covenant to 

Company the following:

A. if such Participant is not a natural person, Participant is duly organized, validly existing and in 

good standing under the laws of its jurisdiction of organization and each other jurisdiction in which 

the nature or conduct of its business requires such qualification;

B. if such Participant is an individual, Participant is of the age of majority in the individual’s place of 

residence;

C. such Participant has all requisite legal authority and capacity to enter into this Agreement and to 

use the Services on its own behalf and to perform its obligations as a Participant;

D. such Participant will maintain during the term of this Agreement all required and necessary 

regulatory approvals and/or licenses to operate as a Participant;

E. such Participant and its Authorized Representatives are and will be in compliance with all material 

respects of the Act, CFTC Regulations and all other applicable laws, rules, regulations, judgments, 

orders and rulings of any governmental authority or self-regulatory organization, authority, 

agency, court or body, including the laws of any jurisdiction applicable to an Order or Transaction 

(collectively, “Applicable Law”) (including data protection and privacy laws and laws with respect 

to recording messages of Participant employees, including providing and obtaining required 

notices or consents); and

F. Participant is not statutorily disqualified from acting as a Participant and that there is, to the best 

of its knowledge, no pending or threatened action, suit or proceeding before or by any court or 

other governmental, regulatory or self-regulatory body, to which Participant is a party, that seeks 

to affect the enforceability of this Agreement or its ability to act as a Participant.

VI. Participant Acknowledgments.

Participant further acknowledges and agrees that:
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March 2022

A. it is fully aware of the speculative nature and high risk associated with the Services referred to in 

this Agreement and of derivatives, futures, swaps, and options trading generally (including the 

risk that Participant or its Authorized Representatives may incur trading losses);

B. it is fully aware that if Participant transfers digital currency away from Company, that transfer is 

immediately irreversible once effectuated, that Participant is solely responsible for designating the 

correct destination and maintaining the ability to access and control the transferred digital 

currency, and that Company accepts no responsibility for Participant’s ability to access or control 

any digital currency transferred away from Company by Participant;

C. it is fully aware of, acknowledges, and agrees to Company’s Digital Currency Fork policy set forth 

in Rule 11.14 of the Rulebook;

D. it will abide by and be subject to the Rulebook, as now existing and as hereafter duly amended 

from time to time, including the obligation to submit to arbitration or the jurisdiction of the State 

or Federal courts located within the City of New York in accordance with Rules 10.1 - 10.5, 11.5 

and 11.6 of the Rulebook;

E. Participant agrees to be bound by, and comply with, this Agreement, and amendments to this 

Agreement, solely by Participant’s or its Authorized Representatives’ access or use of the Services;

F. notwithstanding the above, amendments to this Agreement are automatically effective unless, 

within ten days of the change, Participant: (1) ceases using the Services, (2) does not enter into 

any further trades of any kind on the Platform, and (3) gives notice to Company to arrange for the 

closing of its Accounts;

G. this Agreement is enforceable against Participant, and against each of its Authorized 

Representatives directly, through the dispute resolution procedures in this Agreement and 

the Rulebook;

H. its status as a Participant may be limited, conditioned, restricted or terminated by the Board in 

accordance with the Rulebook;

I. it will provide such other information as may be reasonably requested by Company from time to 

time as may be necessary or desirable to verify its qualifications as a Participant;

J. it authorizes Company to verify, on an initial and a periodic basis, by investigation, the statements 

in the application materials provided to Company, which may include a criminal background 

check, a review of Participant’s credit report, and such other action reasonably deemed necessary 

by Company;

K. it authorizes any governmental, regulatory or self-regulatory body, futures exchange, swap 

execution facility, securities exchange, national securities association, national futures association, 

bank or other entity to furnish to Company, upon its request, any information such entity may have 

concerning Participant, and Participant hereby releases such entity from any and all liability of 

whatsoever nature by reason of furnishing any such information to Company;

L. it hereby authorizes Company to make available to any governmental, regulatory or selfregulatory body, futures exchange, swap execution facility, securities exchange, national securities 

association, national futures association, bank or other entity (upon such entity’s showing of proper 

authority and need) any information Company may have concerning Participant, and it hereby 

releases Company from any and all liability of whatsoever nature by reason of furnishing any such 

information;

M. it will not fraudulently deposit funds into its Participant Account, Collateral Account, Cleared 

Swaps Customer Account, Proprietary Account or any other account associated with this 

Agreement or the use of Company’s services (individually, an “Account” and collectively, the 

“Accounts”);
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N. it hereby authorizes Company to deduct from its Accounts maintained on the books and records 

of Company all fees or other charges accruing to Participant, including legal fees and costs;

O. it hereby authorizes Company to cancel, reverse, close out or transfer Participant’s or its 

Authorized Representatives’ position or terminate its Accounts at Company’s sole discretion, 

and without prior reference to the Participant or its Authorized Representatives, provided that the 

position is not sufficiently collateralized, as determined in the sole and absolute discretion of 

Company; 

P. it will be responsible to Company for payment of any deficiency remaining in Participant’s 

Account should an Account be liquidated or terminated;

Q. it will keep confidential all information related to the Settlement Bank, including but not limited 

to the name of such Settlement Bank, account numbers, and bank personnel, except as necessary 

to perform Company-related transfers;

R. upon each transfer of Underlying to Company, it will pledge to Company a first-priority security 

interest in such Underlying, and it authorizes Company to make transfers of such Underlying in 

accordance with the Rulebook;

S. it hereby declares that the statements in this Agreement and in any application materials provided 

to Company are true, complete and accurate, and that it will promptly notify Company in writing 

if any representation, warranty or covenant made herein changes or ceases to be true; 

T. it will be solely responsible, at its own risk and expense, for (1) acquiring, installing and 

maintaining all equipment, hardware and software (other than any applications, algorithms, 

software, interfaces or code that Company may provide to such Participant pursuant to the terms 

of this Agreement for purposes of accessing and utilizing the Platform (collectively, “Trading 

Tools”) and the Platform), internet access, telecommunications, and network systems necessary 

and compatible for it to access and use the Platform and Trading Tools and (2) ensuring that any 

systems, facilities, servers, routers, and other equipment and software it uses to access and use the 

Platform and Trading Tools are at all times protected by, and at all times comply with, all 

applicable information security and firewall precautions, at a level of security not less than that 

prevailing in the industry;

U. Company cannot guarantee electronic access to the Platform if Participant’s internet service is 

down or disconnected, and that Company is not responsible for any losses due to Participant’s 

inability to connect to the Platform when Participant’s internet service is down or disconnected;

V. it will comply with any security polices applicable to Participant set forth on the Website; 

W. it consents to the electronic delivery of all tax forms, including, without limitation, IRS Form 1099-

B, or such other tax forms as Company may determine are required; and

X. it is obligated to update any and all information contained in any part of this Agreement for so 

long as Participant receives access to Services pursuant to this Agreement.

VII. Third-Party Exchange Participants: Representations, Warranties and Acknowledgments.

Participants and their Authorized Representatives who trade through third-party exchanges and 

clear those trades through Company (hereinafter collectively, “Third-Party Exchange 

Participants”), hereby agree to be bound, and to comply with, all provisions in this Agreement to 

the same extent as other Participants and Authorized Representatives. Third-Party Exchange 

Participants and their Authorized Representatives hereby affirm all representations, warranties, 

covenants and acknowledgments in this Agreement, including but not limited to the 

acknowledgment that this Agreement is enforceable by Company against Third-Party Exchange 
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Participants and their Authorized Representatives directly, through the dispute resolution 

procedures in this Agreement and the Rulebook. Additionally, each Third-Party Exchange 

Participant and each of their Authorized Representatives agrees to be bound by and to comply with 

the Rulebook.

Company may seek any legal, regulatory or similar claims against a Third-Party Exchange 

Participant and each of its Authorized Representatives in the same manner it would pursue such 

an action against other Participants and their Authorized Representatives. For the avoidance of 

doubt, unless expressly stated herein, nothing in this Agreement shall prevent Company or its 

agents from pursuing any claims, liabilities and expenses arising from the conduct of a Third-Party 

Exchange Participant or its Authorized Representatives (including attorneys’ fees, out of pocket 

expenses, costs and disbursements). For purposes of this Agreement, each Third-Party Exchange 

Participant shall be deemed to be a “Participant,” unless otherwise noted herein, and all terms of 

this Agreement pertaining to Participants also pertain equally to Third-Party Exchange 

Participants. All terms of this Agreement pertaining to Authorized Representatives also pertain 

equally to any agent or representative of a Third-Party Exchange Participant.

VIII. Indemnity.

Participant hereby agrees to indemnify and hold harmless Company and its directors, officers, 

employees, members, affiliates and agents (each, a “Related Party”) from and against all expenses 

and costs and damages (including any legal fees and customary expenses), directly and actually 

incurred by Company (including consequential damages awarded to the third party) as a result of 

third-party claims resulting from, in connection with, or arising out of Participant’s use of the 

Services or activities of Participant or arising out of or relating to this Agreement, including any 

failure by Participant, for any reason, fraudulent, negligent, or otherwise, to comply with its 

obligations and requirements set forth in this Agreement, or any failure of Participant to comply 

with the agreements, representations or covenants contained in this Agreement. 

Within 10 Business Days after Company receives written notice of a claim that Company

reasonably believes falls within the scope of this paragraph, Company will provide Participant 

with written notice of that claim, provided, however, that failure to provide such notice will not 

relieve Participant of its indemnity obligations hereunder except to the extent Participant is 

materially prejudiced thereby and Participant will not be responsible for those expenses, costs and 

damages that Company incurs solely as a result of any such delay. Participant’s indemnity 

obligation will not apply to the extent there has been a final determination (including exhaustion 

of any appeals) by a court or arbitrator of competent jurisdiction that the expense, cost or damage 

arose from Company’s gross negligence, fraud or willful misconduct.

IX. Limited Warranty and Limitation of Liability.

The Company rules concerning liability and warranties (including without limitation Rule 11.7 of 

the Rulebook, and any successor Rules thereto) are incorporated herein by reference and apply 

with the same force and effect as if they were reproduced in their entirety in this Agreement. Those 

Company rules set out the entire liability of Company to Participant. All other liability of 
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Company under or in connection with this Agreement is excluded, except to the extent that it is 

not permitted to be excluded by Applicable Law.

X. Data Use Consent.

Participant hereby grants Company a worldwide, perpetual, irrevocable, royalty-free, full 

sublicensable and freely assignable license to store, use, copy, display, disseminate and create 

derivative works from: (1) the price and quantity data for each Transaction entered into by 

Participant that is executed via the Services and (2) each bid, offer and/or Order provided via the 

Services by Participant. Participant acknowledges and agrees that Company may use such 

information for business, marketing and other purposes.

XI. Market Information; No Warranty.

Company may make available to Participant a broad range of financial information that Company

obtains from third-party service providers, including financial market data, spot market data, 

quotes, news, analyst opinions, links to other third-party sites and research reports (hereinafter, 

“Market Information”). Company does not endorse or approve Market Information, and we make 

it available to Participant and its Authorized Representatives only as a service and convenience. 

Company and its third-party service providers do not (1) guarantee the accuracy, timeliness, 

completeness or correct sequencing of Market Information, or (2) warrant any results from the use 

or reliance on Market Information. Company expressly disclaims and makes no warranty of 

merchantability, fitness for a particular purpose or use, or non-infringement. There is no other 

warranty of any kind, express or implied, regarding the Market Information.

Market Information may quickly become unreliable for various reasons including, for example, 

changes in market conditions or economic circumstances. Neither Company nor the third-party 

service providers are obligated to update any information or opinions contained in any Market 

Information, and Company may discontinue offering Market Information at any time without 

notice. Participant and its Authorized Representatives agree that neither Company nor the thirdparty service providers will be liable in any way for the termination, interruption, delay or 

inaccuracy of any Market Information. Participant and its Authorized Representatives agree not 

to redistribute or facilitate the redistribution of Market Information, and agree not to provide access 

to Market Information to anyone who is not authorized by Company to receive Market 

Information.

XII. No Investment Advice or Recommendations.

Participant hereby acknowledges and agrees that Company provides no legal, tax, investment, 

financial or other advice, and nothing contained in the Services constitutes a solicitation, 

recommendation, endorsement or offer by Company to buy or sell any commodity derivative, 

future, option or swap. Participant assumes the sole responsibility of evaluating the merits and 

risks associated with the use of the Services before making any investment decisions, and 
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Participant agrees not to hold Company liable for any possible claim for damages arising from any 

decision made based on the Services, information or Market Information made available to 

Participant or its Authorized Representatives by or through Company.

XIII. Netting Program.

Participant hereby acknowledges that Company provides a netting program (the “Netting 

Program”) as described on the Website, which is made a part of, and incorporated by reference 

into, this Agreement. Participant hereby chooses to opt in or opt out of such Netting Program as 

elected on the signature page hereto.

XIV. Amendments to the Agreement.

Company may modify any of the terms and conditions that are set forth in this Agreement by 

providing not less than ten days prior written notice to Participant. Participant acknowledges and 

agrees that such notice is sufficient if posted to the Company website as a regulatory notice under 

“Regulatory Notices” and that no other or additional form of notice, actual or constructive, is 

required. If Participant does not consent to the modification, Participant may terminate this 

Agreement by sending a written notice of termination of its Accounts to Company at 

legal.derivs@ftx.us within ten days of receiving notification of the modification from Company. 

Any such termination will be effective as of the date on which the modification would have taken 

effect. In the event a Participant does not consent to the modification of this Agreement, and 

objects to the modification in a timely fashion as set forth above, then Participant (1) agrees to stop 

using the Services immediately, (2) agrees that neither it nor its Authorized Representatives will 

enter into any further trades of any kind on Company’s system, (3) grants Company the authority 

to close any open positions immediately, and (4) agrees it will be responsible to Company for 

payment of any deficiency remaining in Participant’s Accounts after the closing of such positions. 

XV. Termination.

Subject to Applicable Law and the Rulebook, Company or Participant may terminate this 

Agreement by giving the other prior written notice. Termination of this Agreement will not affect 

liability accrued as of termination. Sections V through XII, XIV, XVIII, and XXI will survive 

termination of this Agreement and continue in full force and effect.

In the event Participant elects to terminate this Agreement, then Participant (1) agrees to stop using 

the Services immediately, (2) agrees that neither it nor its Authorized Representatives will enter 

into any further trades of any kind on Company’s system, (3) grants Company the authority to 

close any open positions immediately, and (4) agrees it will be responsible to Company for 

payment of any deficiency remaining in Participant’s Account after the closing of such positions.
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XVI. Complete Agreement.

This document incorporates herein by reference the Company User Agreement and the Company

Privacy Policy, both available on the Company website at https://derivs.ftx.us/legal, and any 

amendments thereto. 

This Agreement constitutes the entire contract between the parties relative to the subject matter 

hereof. Any other previous agreement among the parties with respect to the subject matter hereof 

is superseded by this Agreement. Nothing in this Agreement, expressed or implied, is intended to 

confer upon any person (other than the parties hereto, their respective successors and assigns 

permitted hereunder) any rights, remedies, obligations or liabilities under or by reason of this 

Agreement.

XVII. Severability.

In the event that any one or more of the provisions contained in this Agreement should be held 

invalid, illegal or unenforceable in any respect, the validity, legality and enforceability of the 

remaining provisions contained herein and therein shall not in any way be affected or impaired 

thereby (it being understood that the invalidity of a particular provision in a particular jurisdiction 

shall not in and of itself affect the validity of such provision in any other jurisdiction). The parties 

shall endeavor in good-faith negotiations to replace the invalid, illegal or unenforceable provisions 

with valid provisions the economic effect of which comes as close as possible to that of the invalid, 

illegal or unenforceable provisions.

XVIII. Counterparts.

This Agreement may be executed in counterparts (and by different parties hereto on different 

counterparts), each of which shall constitute an original but all of which when taken together shall 

constitute a single contract. 

Each party agrees that electronic signatures of the parties included in this Agreement are intended 

to authenticate this writing and to have the same force and effect as manual signatures. Electronic 

signature means any electronic sound, symbol or process attached to or logically associated with 

a record and executed and adopted by a party with the intent to sign such record pursuant to the 

New York Electronic Signatures and Records Act (N.Y. State Tech. §§ 301-309) as amended from 

time to time. Delivery of an electronic signature to this Agreement shall be as effective as delivery 

of an original signed counterpart of this Agreement.

XIX. Assignment.

Participant may not assign this Agreement, in whole or in part, without the prior written consent 

of Company.
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XX. USA PATRIOT Act Notice.

Company hereby notifies Participant that pursuant to the requirements of the USA PATRIOT Act, 

it is required to obtain, verify and record information that identifies Participant, which information 

includes the name and address of Participant and other information that will allow Company to 

identify Participant in accordance with the USA PATRIOT Act.

XXI. Governing Law.

This Agreement will be governed by and construed in accordance with the laws of the State of 

New York. Any dispute between Company and Participant or its Authorized Representatives 

arising from or in connection with this Agreement will be settled through arbitration or the State 

or Federal courts located within the City of New York in accordance with Rules 10.1 - 10.5, 11.5 

and 11.6 of the Rulebook. 

XXII. Click “I agree” for Your Signature.

As noted above in Section XVIII, Participant will be signing this Agreement with a valid and 

binding electronic signature by clicking “I agree,” and Participant acknowledges that it has read 

and understood this Agreement’s terms and conditions.

* * *
Appendix C
User Agreement

WHEREAS, LedgerX d/b/a FTX US Derivatives (the “Company) is registered as a Swap 

Execution Facility pursuant to Section 5h of the Commodity Exchange Act and a Derivatives 

Clearing Organization pursuant to Section 5b of the Commodity Exchange Act and a 

Designated Contract Market pursuant to Section 5 of the Commodity Exchange Act;

WHEREAS, Participant desires to receive Platform services from LedgerXCompany for the 

purpose of accessing the Exchange;

WHEREAS, LedgerXCompany is willing to provide Platform services to Participant for the 

purpose of accessing the Exchange; and

WHEREAS, Participant and LedgerXCompany desire to enter into this Agreement to govern 

the provision and receipt of Platform services.

Agreement

NOW, THEREFORE, in consideration of the premises and the undertakings of the Parties 

hereinafter set forth, and for other good and valuable consideration, the receipt and 

adequacy of which are hereby acknowledged, the Parties agree as follows:

ARTICLE 1. DEFINITIONS

Section 1.1. Definitions

“Affiliate” has the same meaning as set forth in the Rules.

“Agreement” means this User Agreement (including any items referenced or exhibits and 

attachments hereto), along with the Rules and the licenses for the API Client Library and 

LedgerXCompany’s Specifications Document for APIs, as may be amended or modified 

from time to time in accordance with the terms hereof.

“API” means application programming interface.

“API Client Library” means LedgerXCompany’s proprietary application programming 

interface.
“Authorized Representative” has the same meaning as set forth in the Rules.

“Authorized User” has the same meaning as set forth in the Rules.

“Confidential Information” is defined in Section 7.1.

“Effective Date” is defined in the preamble to this Agreement. “Exchange” has the same 

meaning as set forth in the Rules. “Force Majeure Event” is defined in Section 9.1.

“Governmental Authorities” means any legislative, executive or judicial unit of any 

governmental or quasi-governmental authority or instrumentality (multinational, national, 

federal, state, provincial, local or foreign, international or domestic), or any department, 

agency, board, bureau, commission, official or other regulatory, administrative or judicial 

authority thereof, including any administrative or regulatory agency or commission, and any 

court or arbitration tribunal, and any Regulatory Agency as defined in the Rules, in each 

instance having jurisdiction over the subject matter before it.

“Intellectual Property” means all discoveries, inventions, improvements, developments, 

procedures, processes, formulations, know-how, trade secrets, formulae, patents, 

continuations, divisions, reissues, reexaminations, trademarks, service marks, trade names, 

trade dress, designs, logos, packaging, domain names and universal resource locators, 

proprietary and confidential information, technical information, techniques, works of 

authorship and all other copyrightable works and copyright rights, software and underlying 

code, algorithms, data and databases, drawings, models, manuals and systems, whether or 

not patentable or copyrightable or otherwise registerable, all rights and applications, 

registrations, renewals, and extensions derived or derivable therefrom, and all intangible 

rights and privileges of a nature similar to any of the foregoing anywhere in the world.

“Law” means all supranational, international, national, state and local laws, statutes, 

regulations, rules, codes or ordinances enacted, adopted, issued or promulgated by any 

Governmental Authority or common law.

“LedgerXCompany” is defined in the preamble to this Agreement.

“LedgerXCompany Indemnitees” is defined in Section 6.2.
“LedgerXCompany Trademarks” means the trade names, trademarks, service marks, logos, 

product names, domain names, or other designations of LedgerXCompany and its 

Affiliates.

“Participant” is defined in the preamble to this Agreement.

“Participant Application and Agreement” means the agreement which Participant entered 

into with the Exchange to gain access to and Participant privileges of the Exchange.

“Participant Notice” has the same meaning as set forth in the Rules. “Party” and “Parties” 

are defined in the preamble to this Agreement. “Person” has the same meaning as set forth 

in the Rules.

“Platform” has the same meaning as set forth in the Rules.

“Platform Intellectual Property” is defined in Section 5.1.“Rules” means the rules of 

LedgerXCompany, as may be amended or modified from time to time.

“Third Party” and “Third Parties” mean any Person other than LedgerXCompany or 

Participant or an Affiliate of either Party.

“Trading Tools” means any applications, algorithms, software, interfaces, or code that 

LedgerXCompany may provide Participant under this Agreement for accessing and using 

the Platform.

Section 1.2. Defined Terms

Capitalized terms used herein but not defined in Section 1.1 of or elsewhere in this 

Agreement shall have the meanings set forth in the Rules.

ARTICLE 2. GENERAL REPRESENTATIONS AND WARRANTIES

Section 2.1. General Warranties.

Each Party represents and warrants to the other Party that:

2.1.1. The individual executing and delivering this Agreement has full power and authority 
to do so on its behalf.

2.1.2. This Agreement has been duly and validly authorized, executed and delivered on its 

behalf and constitutes a valid, binding and enforceable agreement in accordance with its 

terms.

2.1.3. Such Party’s execution, delivery and performance of this Agreement shall not 

constitute a violation, breach or default under any contract, instrument, obligation or 

agreement to which it is a Party or by which it is bound, and will not conflict with or violate 

any applicable Law of any Governmental Authority having jurisdiction over it or its assets or 

property.

Section 2.2. Compliance with Laws.

Participant represents, warrants and covenants that it shall comply with: (a) all applicable 

Laws, (b) all terms and conditions of this Agreement, and (c) the Rules, in connection with 

its exercise of its rights and obligations under this Agreement, including any and all use and 

access to the Platform and any related services.

Section 2.3.Participant represents and warrants to LedgerXCompany that, as of the date 

hereof and on an ongoing basis:

2.3.1. If Participant is an entity, it is duly organized, validly existing and in good standing 

under the laws of its jurisdiction of organization and each other jurisdiction in which the 

nature or conduct of its business requires such qualification, or in the case of an individual, 

is of the age of majority in the individual’s state of residence.

2.3.2. It has full power and authority (corporate and otherwise) to execute and deliver this 

Agreement and to perform its obligations under this Agreement.

2.3.3. It has received all necessary approvals and consents from all applicable 

Governmental Authorities to permit it to use the Platform and perform its obligations under 

this Agreement.

2.3.4. It is an Eligible Contract Participant, as such term is defined in section 1a(18) of the 

Commodity Exchange Act and CFTC Regulation 1.3(m).
2.3.5. There is not pending, or to the best of its knowledge threatened, any action, suit or 

proceeding before or by any Governmental Authority or self-regulatory body to which it is a 

party which seeks to affect the enforceability of this Agreement or Participant’s use of the 

Platform.

2.3.6. It will be subject to the Limitation of Liability and No Warranties provisions of the 

Rules, incorporated herein and made part hereof.Capitalized terms used herein but not 

defined in Section 1.1 of or elsewhere in this Agreement shall have the meanings set forth 

in the Rules.

ARTICLE 3. LICENSE GRANT; CERTAIN SPECIFIC RESTRICTIONS

Section 3.1. License Grant

3.1.1. Subject to the terms and conditions of this Agreement, LedgerXCompany hereby 

grants to Participant a personal, limited, non-exclusive, non-transferable, non-sublicensable, 

revocable right and license to use: (a) the Trading Tools, and (b) the Platform, in each case 

through Participant’s Authorized User(s) to access and use the Exchange. Participant may 

access/use the Platform and utilize any services and all information and content (including, 

without limitation, bids and offers, price and other trade-related data, whether generated by 

the Exchange, a Participant or an Authorized User) therein or in any way related to the 

Platform, only for soliciting and entering orders for itself or, with respect to an Executing 

Participant, for Customers for whom such Executing Participant is authorized to act.

3.1.2. In connection with the access to and use of the Platform, Participant may: either use 

the API Client Library pursuant to the applicable license agreement for same, or use its own 

compatible API based on LedgerXCompany’s API Specifications Document. Similarly, 

Participant may use the Trading Tools, or use its own compatible trading tools, in 

connection with access/use of the Platform. For the avoidance of doubt, to the extent 

Participant chooses to use the API Client Library, such use shall be governed by the 

applicable separate license agreement for the API Client Library. To the extent Participant 

chooses to use the Trading Tools, the term “Platform” shall hereinafter be deemed to 

include “Trading Tools” and shall be governed by this Agreement.

3.1.3. Participant may obtain access to the Platform via the Internet or by any other means 

deemed acceptable by LedgerXCompany, and may provide such access to Authorized 
User(s) identified by the Participant on an Authorized User Form. Participant shall not 

provide, share, or loan user identification and password information to any person other 

than Authorized Users. If an Authorized User leaves Participant’s employ, Participant will be 

responsible for informing LedgerXCompany in writing so that the user identification and 

password for the departing Authorized User can be deactivated. Participant is responsible 

for maintaining the confidentiality of user identifications and passwords, and is responsible 

for all user identifications and passwords, whether or not actually or expressly authorized 

by LedgerXCompany. Participant is responsible for ensuring its Authorized Users fully 

comply with this Agreement and any failure by Authorized Users to comply will constitute a 

breach by Participant.

3.1.4. Participant assumes all risk and bears sole responsibility for establishing such 

access, including, but not limited to, bearing all risk associated with any malfunction 

thereof, paying all applicable costs for establishing such access, and selecting its service 

provider. As between the Parties, Participant shall be solely responsible, at its own risk and 

expense, for acquiring, installing and maintaining all equipment, hardware and software 

(other than the Platform), Internet access, telecommunications, and network systems, 

including without limitation establishing and maintaining adequate security systems, 

necessary and compatible for it to securely access and use the Platform. All rights not 

expressly granted above are reserved by LedgerXCompany.

Section 3.2. Certain Specific Restrictions.

3.2.1. Participant will not use the Platform, or any related software that LedgerXCompany

may provide to Participant under this Agreement, for the benefit of any Third Party or 

provide any Third Party with access to the Platform or any such software by any means, 

other than as is necessary in connection with an Authorized User.

3.2.2. Participant will not use or permit the use of the Platform for any illegal purpose or for 

any purpose deemed unacceptable by the Exchange in its sole discretion. It will not access 

the Platform in any jurisdiction in which to do so would be illegal or otherwise prohibited. It 

will not itself (and will not permit any Third Party to), in whole or in part, copy, reproduce, 

modify, decode, reverse engineer, reverse assemble or reverse compile the Platform or any 

related software that LedgerXCompany may provide to Participant under this Agreement, or 

any of the content or information displayed thereon or issued by the Platform or such 
software. Participant will not communicate, distribute, rent, sell, retransmit, redistribute, 

post, circulate, display, license or relicense, broadcast, publicly perform, create derivative 

works from, commercially exploit, publish or release the Platform or any related software 

that LedgerXCompany may provide to Participant under this Agreement or any of the 

content or information displayed thereon to any Third Party, except to an Authorized User 

as permitted by the Exchange. Participant will not attempt to gain unauthorized access to 

the Platform or any related software that LedgerXCompany may provide to Participant 

under this Agreement, through hacking, password or data mining, or any other means of 

circumventing any access-limiting, Authorized User authentication, or security device of the 

Platform or any such software.

3.2.3. Participant will not, without the Exchange’s prior written consent, directly or indirectly, 

redistribute, or facilitate redistribution of, all or any portion of the data on the Platform or 

any related software that LedgerXCompany may provide to Participant under this 

Agreement, including, but not limited to, the Exchange’s proprietary data, provided, however, 

that such consent shall not be required for (a) copying, reproducing or retransmitting 

information that is generally available to the public free of charge, (b) any part of the data 

on the Platform for the administration, regulatory and reporting purposes of Participant or 

its Authorized Users, (c) the solicitation and entry of orders for trades on the Platform, 

including, if applicable, orders transmitted via Participant’s internal automated order routing 

system, or (d) the provision of indicative valuations to Participant or its Authorized Users. 

Notwithstanding the foregoing, Participant represents, warrants and covenants that it and 

all of its Authorized Users shall only use such data for its and their own internal business 

purposes and processes, and not for any commercial purposes whatsoever.

3.2.4. Participant will not engage in any conduct that could damage, disable or overburden, 

or take any action that would impede or interfere with, the operation of the Platform or any 

related software that LedgerXCompany may provide to Participant under this Agreement, or 

any systems, networks, software, servers, websites, or accounts of LedgerXCompany or its 

Affiliates (including the Exchange), agents, or licensors. Capitalized terms used herein but 

not defined in Section 1.1 of or elsewhere in this Agreement shall have the meanings set 

forth in the Rules.

ARTICLE 4. FEES
Participant shall pay such transaction fees as are established and notified by 

LedgerXCompany in a Participant Notice from time to time and Participant authorizes 

LedgerXCompany to debit such fees from Participant’s account maintained on the books 

and records of LedgerXCompany.

ARTICLE 5. INTELLECTUAL PROPERTY

Section 5.1.

Participant acknowledges and agrees that the Platform, any related software that 

LedgerXCompany may provide to Participant under this Agreement, and any nonpublic data 

generated by such Platform or related software are protected or protectable by Intellectual 

Property laws. As between the Parties, the Platform, any related software that 

LedgerXCompany (or its Affiliates) may provide to Participant under this Agreement 

(including the Trading Tools), and any nonpublic data generated by such Platform or 

software, including all Intellectual Property subsisting therein or related thereto, are the 

exclusive proprietary property of LedgerXCompany (all of the foregoing collectively 

“Platform Intellectual Property”). For the avoidance of doubt, Platform Intellectual Property 

shall also include (a) any and all derivatives, versions, improvements, error corrections, bug 

fixes, patches, updates or other modifications, customizations, suggestions, feedback, 

enhancements or extensions to, and adaptations and translations of the Platform; and (b) 

the order, sequence, arrangement and formatting of the data, results and output generated 

by the Platform. Participant and its Authorized Users will have no rights with respect to 

such Platform Intellectual Property except as expressly set forth in this Agreement. Unless 

otherwise expressly specified in writing by LedgerXCompany, LedgerXCompany reserves 

complete ownership, title and rights in and to materials Participant downloads from the 

Platform. Participant may use such materials for its internal, noncommercial use, provided 

that it does not alter or modify the materials, or delete or modify any copyright, trademark, 

or other proprietary rights notices, or disclaimers.

Section 5.2.

Participant will be responsible for ensuring that its Authorized Users, partners, officers, 

directors, employees and agents maintain sole control and possession of, and sole access 

to, nonpublic data generated by the Platform obtained by Participant and/or its Authorized 

Users, all of which shall constitute Confidential Information of LedgerXCompany pursuant 

to Article 7, below.
Section 5.3.

This Agreement does not grant permission to Participant to use LedgerXCompany

Trademarks. Without the prior written consent of LedgerXCompany, Participant shall not 

use (and shall not permit any Third Party to use) any LedgerXCompany Trademarks in any 

manner, except as required for reasonable and customary use to accurately and factually 

describe the origin of the Platform, and/or providing appropriate attribution, all of the 

foregoing in a form and format reasonably acceptable to LedgerXCompany. Participant 

acknowledges and agrees that all right, title and interest in and to the LedgerXCompany

Trademarks and the goodwill associated with such trademarks shall be and remain the 

property of LedgerXCompany, and that the use of the LedgerXCompany Trademarks and 

the goodwill associated therewith as permitted under this Agreement shall inure to the 

benefit of LedgerXCompany. Participant shall, in all its activities relating to this Agreement, 

conduct its obligations hereunder in a manner so as to preserve the goodwill of the 

LedgerXCompany Trademarks by not bringing LedgerXCompany, its Affiliates, or the 

LedgerXCompany Trademarks into public disrepute, contempt, scandal or ridicule. Further, 

Participant shall not use any LedgerXCompany Trademarks in a manner to suggest 

LedgerXCompany’s endorsement or sponsorship of Participant, including any of 

Participant’s products or services. Participant shall not, and shall not permit any Third Party 

to, seek to register (including, as a trademark, domain name, company name or other 

source identifier), anywhere in the world, any of the Platform Intellectual Property, 

LedgerXCompany Trademarks, and/or any designation confusingly similar therewith.

ARTICLE 6. DISCLAIMERS; LIMITATION OF LIABILITY; INDEMNIFICATION

Section 6.1.

In addition to, and without limiting the generality of the “limitation of liability” and “no 

warranties” provisions of the rules as may be amended from time to time (as incorporated 

herein and made a part hereof pursuant to section 2.3.6 above, and available on the 

ledgerxCompany website), participant specifically acknowledges and agrees that the 

platform (including any provided trading tools), the platform intellectual property, the 

ledgerxCompany trademarks, and any and all related information, materials, and services 

provided by or on behalf of ledgerxCompany or its affiliates in connection with this 

agreement, are provided on an “as-is,” “as available” basis without any representations or 

warranties of any kind. LedgerxCompany makes no representation or warranty, express or 

implied, and, to the extent permitted by applicable law, expressly disclaims any and all such 

representations and warranties, including any with respect to timeliness, completeness, 
merchantability, noninfringement, or fitness for any particular purpose, or that api client will 

be error- free, uninterrupted, secure, or virus-free. Participant assumes the sole risk of 

making use of any of the foregoing. None of ledgerxCompany or any of its affiliates will be 

liable to participant or any other person or entity for any special, indirect, incidental or 

consequential damages of any kind arising from this agreement and/or access or use of 

the platform.

Section 6.2.

Participant agrees to defend, indemnify and hold harmless LedgerXCompany, its Affiliates 

and its and their respective officers, directors, employees, agents, representatives, 

successors and assigns (collectively “LedgerXCompany Indemnitees”), from and against 

any and all losses, liabilities, damages, actions, suits, demands or claims brought by any 

Third Party (including amounts paid in settlement, reasonable costs of investigation and 

reasonable attorneys’ fees and disbursements), arising out of or resulting from (a) the 

negligence, gross negligence, bad faith or intentional or willful misconduct of Participant or 

its Affiliates, Authorized Representatives or Authorized Users; (b) breach of any of 

Participant’s representations, warranties, covenants or agreements contained herein 

(including any use of the Platform Intellectual Property except as authorized herein); (c) any 

data, information, or content provided, used, uploaded, or transmitted by or on behalf of 

Participant in connection with its use of the Platform Intellectual Property; and/or (d) 

violation of Law by Participant or its Affiliates, Authorized Representatives or Authorized 

Users in connection with Participant’s performance under this Agreement.

Section 6.3.In connection with the foregoing indemnification obligation, Participant will not 

accept any settlement which does not provide the LedgerXCompany Indemnitees with a 

complete release or imposes liability not covered by these indemnifications or places 

restrictions on the LedgerXCompany Indemnitees without LedgerXCompany’s prior written 

consent, which consent will not be unreasonably withheld or delayed. The LedgerXCompany

Indemnitees may participate in the defense of any claim through their own counsel, and at 

their own expense.

ARTICLE 7. CONFIDENTIALITY AND NON-USE

Section 7.1.

Each Party hereto acknowledges that it or its officers, directors, employees, agents, 

representatives, or Affiliates may, in the course of offering or using the Platform and any 
related services provided under this Agreement, be exposed to or acquire information 

regarding this Agreement, the terms of the arrangement reflected herein or other 

information that is proprietary to or confidential, including proprietary data or personal 

information collected or received for the purpose of fulfilling a regulatory obligation, to 

another Party, such Party’s Affiliates or Third Parties to whom such Party has a duty of 

confidentiality (“Confidential Information”). Each Party agrees to hold any Confidential 

Information in strict confidence and not to disclose such information to any Person, except 

as may be necessary in connection with the performance by such Party of its obligations to 

the other Party hereunder. Each Party will advise each of its officers, directors, employees, 

agents, representatives, or Affiliates who may be exposed to Confidential Information of 

their obligation to keep such information confidential.

Section 7.2.

The foregoing confidentiality obligations shall not apply to information that (a) is or 

becomes part of the public domain without breach of this Agreement by the Party 

disclosing such information; (b) was acquired by such party independently of the other 

Party and is not otherwise subject to an obligation of confidentiality; (c) is subsequently 

obtained by such Party from a Third Party not known by it to have an obligation to maintain 

the confidentiality of such information; (d) is developed independently by or on behalf of 

such Party, without reference to Confidential Information; (e) a Party has provided consent 

to the other Party whereby the latter Party is permitted to use the former Party’s 

Confidential Information without the restrictions set forth above; or (f) is disclosed pursuant 

to a requirement imposed on such Party by law, order, judgment, decree, or pursuant to any 

rule, regulation or request of or by any government, court, administrative or regulatory 

agency or commission, other governmental or regulatory authority or any self-regulatory 

organization. Notwithstanding anything to the contrary in this Agreement, nothing in this 

Agreement shall restrict a Party from disclosing Confidential Information to any 

governmental authority having jurisdiction over such party if (i) the Party is requested to do 

so thereby or (ii) the Party determines in its sole discretion that it is necessary or 

appropriate to provide such Confidential Information thereto, provided, in each case, that 

the Party providing the Confidential Information shall have, wherever applicable, taken 

reasonable steps to protect the confidentiality of such information as it would take with 

respect to the protection of its own comparable confidential information in such 

circumstances.
ARTICLE 8. TERM AND TERMINATION OF AGREEMENT

Section 8.1.

This Agreement will commence on the Effective Date, and will continue unless and until

terminated by: (a) LedgerXCompany or Participant upon thirty (30) calendar days’ prior 

written notice to the other Party; (b) immediately upon written notice by LedgerXCompany

to Participant upon a breach of this Agreement, including but not limited to a breach of any 

Rules; and (c) immediately upon written notice by LedgerXCompany when there has been 

no activity in the Participant’s account(s) for a period of twelve (12) consecutive months.

Section 8.2.

Upon expiration or any termination of this Agreement: (a) all rights and licenses granted to 

Participant shall terminate automatically without further notice; (b) Participant shall 

immediately cease accessing and using the Platform Intellectual Property and the 

LedgerXCompany Trademarks, and immediately return or destroy (at LedgerXCompany’s 

direction) any materials in its possession or control, in whatever form, consisting of, 

containing, and/or bearing, Platform Intellectual Property, LedgerXCompany Trademarks, 

and/or Confidential Information of LedgerXCompany, and certify in writing to 

LedgerXCompany that it has done so; (c) Participant shall not make any further 

reproductions (in electronic, hard copy, or any other format), of materials generated through 

the Platform prior to such expiration/termination; and (d) LedgerXCompany shall return or 

destroy (at Participant’s direction) any materials in its possession, in whatever form, 

containing Confidential Information of Participant. Notwithstanding the foregoing, copies of 

Confidential Information that are required to be retained by law or regulation or audit 

requirements or that are created pursuant to any automated archiving or back-up 

procedures which cannot reasonably be deleted may be retained; provided, however, that 

such Confidential Information shall continue to be subject to the terms of this Agreement. 

The Participant shall be bound by the Rules after the expiration or termination of this 

Agreement to the extent mandated by the Rules. In addition, the provisions of Section 3.2 

and Articles 5–9 shall survive any expiration or termination of this Agreement.

ARTICLE 9. MISCELLANEOUS

Section 9.1. Force Majeure.

Force Majeure. Except with respect to any obligations to make payments, no Party shall 

bear any responsibility or liability for any delay in or interruption of the performance of its 
obligations under this Agreement due to any act of God, fire, flood, earthquake or other 

natural disaster, severe or adverse weather conditions, equipment failure, communications 

line failure, act of governmental authority, judicial decree, act of the public enemy, war, 

terrorism, riot, civil commotion, insurrection, labor difficulty (including, without limitation, 

any straw or other work stoppage or slowdown), or other cause beyond the reasonable 

control of the Party so affected, provided that such nonperformance could not have been 

prevented by reasonable precautions (each, a “Force Majeure Event”). Upon any such Force 

Majeure Event, the obligations under this Agreement of the Party affected by such Force 

Majeure Event shall be postponed for such time as the performance of such Party is 

suspended or delayed on account thereof. The affected Party shall promptly notify the other 

Party upon learning of the occurrence of such Force Majeure Event. Upon the cessation of 

such Force Majeure Event, the affected Party will use its commercially reasonable efforts to 

resume its performance with the least delay practicable.

Section 9.2. Amendments.

Amendments.LedgerX Company may amend this Agreement at any time by sending a 

Participant Notice to Participants and any such amendments will be binding on the 

Participant and its Authorized Users effective upon the sending of such Participant Notice. 

LedgerXCompany will endeavor to provide thirty (30) calendar days’ prior notice of 

amendments that are likely to materially and/or adversely affect the Participant or its rights 

hereunder. The Participant’s or its Authorized User’s continued use of the Platform after 

such Participant Notice is sent and the effective date of any amendment shall constitute 

the Participant’s ratification of, and agreement to, any such amendment.

Section 9.3. Waiver.

Waiver.No waiver by either party of any default by the other party in the performance of any 

provisions of this Agreement shall operate as a waiver of any continuing or future default, 

whether of a like or different character.

Section 9.4. Assignment.

Assignment.Participant may not assign or otherwise transfer (whether by operation of law, 

merger, consolidation, sale of all or substantially all of its assets, stock, or otherwise) this 

Agreement or any of its rights or obligations hereunder without the express prior written 

consent of LedgerXCompany (such consent not to be unreasonably withheld). Any act 

which is inconsistent with the terms of this Section shall ab initio be null and void and 

unenforceable. In contrast, LedgerXCompany may freely transfer its rights and/or 
obligations under this Agreement without the advance consent from or notice to the 

Participant (including, without limitation, to an Affiliate of LedgerXCompany, as part of the 

sale or exclusive license of all or substantially all of the business, assets, or stock of 

LedgerXCompany and/or in connection with any merger, consolidation, combination, plan 

of arrangement or reorganization of LedgerXCompany). Subject to the foregoing, this 

Agreement will be binding upon and will inure to the benefit of the Parties and their 

permitted successors and assigns.

Section 9.5. Severability.

Severability.If, for any reason whatsoever, any one or more provisions of this Agreement 

shall be found to be inoperative, invalid, or unenforceable, that provision shall be reformed 

to the maximum extent permitted to preserve the Parties’ original intent; failing which, it 

shall be severed from this Agreement with the balance of this Agreement continuing in full 

force and effect.

Section 9.6. Counterparts.

Counterparts.This Agreement may be executed in multiple counterparts, each of which shall 

be deemed an original, but all of which together shall constitute one agreement binding on 

the parties hereto.

Section 9.7. Whole Agreement.

Whole Agreement.This Agreement, as amended or modified from time to time, shall 

constitute the entire agreement between Participant and LedgerXCompany respecting the 

Platform and related software and services described herein, and shall supersede all prior 

agreements, arrangements, representations or promises, whether oral or written, as to its 

subject matter. In the event that the terms of this Agreement are in conflict with any of the 

Rules or the Participant Application and Agreement, this Agreement shall prevail.

Section 9.8. Governing Law.

Governing Law.This Agreement shall be governed by, and construed in accordance with, the 

Laws of the State of New York without regard to any provisions of New York Law that would 

apply the substantive Law of a different jurisdiction. Any dispute, claim or controversy 

arising out of or relating to this Agreement or the breach, termination, enforcement, 

interpretation or validity thereof, including the determination of the scope or applicability of 

this agreement to arbitrate, shall be determined by arbitration in New York City before three 

arbitrator(s) who shall be appointed in accordance with the Commercial Arbitration Rules of 
the American Arbitration Association. All arbitrators must have experience in the financial 

services industry, and no less than one arbitrator must have experience in the commodity 

futures or swap industry. The arbitration shall be administered by the American Arbitration 

Association pursuant to the Commercial Arbitration Rules of the American Arbitration 

Association. Judgment on the Award may be entered in any court having jurisdiction. This 

clause shall not preclude parties from seeking provisional remedies in aid of arbitration 

from a court of appropriate jurisdiction. In any arbitration arising out of or related to this 

Agreement, the arbitrator(s) shall award to the prevailing party, if any, the costs and 

attorneys’ fees reasonably incurred by the prevailing party in connection with the arbitration. 

If the arbitrator(s) determine a Party to be the prevailing Party under circumstances where 

the prevailing Party won on some but not all of the claims and counterclaims, the 

arbitrator(s) may award the prevailing Party an appropriate percentage of the costs and 

attorneys’ fees reasonably incurred by the prevailing Party in connection with the 

arbitration.

Section 9.9. Notices.

Notices.Notices relating to this Agreement shall be sent to compliance.derivs@ftx.us

compliance@ledgerx.com.
Appendix D
User Agreement

WHEREAS, LedgerX d/b/a FTX US Derivatives (the “Company) is registered as a Swap 

Execution Facility pursuant to Section 5h of the Commodity Exchange Act and a Derivatives 

Clearing Organization pursuant to Section 5b of the Commodity Exchange Act and a 

Designated Contract Market pursuant to Section 5 of the Commodity Exchange Act;

WHEREAS, Participant desires to receive Platform services from Company for the purpose 

of accessing the Exchange;

WHEREAS, Company is willing to provide Platform services to Participant for the purpose of 

accessing the Exchange; and

WHEREAS, Participant and Company desire to enter into this Agreement to govern the 

provision and receipt of Platform services.

Agreement

NOW, THEREFORE, in consideration of the premises and the undertakings of the Parties 

hereinafter set forth, and for other good and valuable consideration, the receipt and 

adequacy of which are hereby acknowledged, the Parties agree as follows:

ARTICLE 1. DEFINITIONS

Section 1.1. Definitions

“Affiliate” has the same meaning as set forth in the Rules.

“Agreement” means this User Agreement (including any items referenced or exhibits and 

attachments hereto), along with the Rules and the licenses for the API Client Library and 

Company’s Specifications Document for APIs, as may be amended or modified from time to 

time in accordance with the terms hereof.

“API” means application programming interface.

“API Client Library” means Company’s proprietary application programming interface.
“Authorized Representative” has the same meaning as set forth in the Rules.

“Authorized User” has the same meaning as set forth in the Rules.

“Confidential Information” is defined in Section 7.1.

“Effective Date” is defined in the preamble to this Agreement. “Exchange” has the same 

meaning as set forth in the Rules. “Force Majeure Event” is defined in Section 9.1.

“Governmental Authorities” means any legislative, executive or judicial unit of any 

governmental or quasi-governmental authority or instrumentality (multinational, national, 

federal, state, provincial, local or foreign, international or domestic), or any department, 

agency, board, bureau, commission, official or other regulatory, administrative or judicial 

authority thereof, including any administrative or regulatory agency or commission, and any 

court or arbitration tribunal, and any Regulatory Agency as defined in the Rules, in each 

instance having jurisdiction over the subject matter before it.

“Intellectual Property” means all discoveries, inventions, improvements, developments, 

procedures, processes, formulations, know-how, trade secrets, formulae, patents, 

continuations, divisions, reissues, reexaminations, trademarks, service marks, trade names, 

trade dress, designs, logos, packaging, domain names and universal resource locators, 

proprietary and confidential information, technical information, techniques, works of 

authorship and all other copyrightable works and copyright rights, software and underlying 

code, algorithms, data and databases, drawings, models, manuals and systems, whether or 

not patentable or copyrightable or otherwise registerable, all rights and applications, 

registrations, renewals, and extensions derived or derivable therefrom, and all intangible 

rights and privileges of a nature similar to any of the foregoing anywhere in the world.

“Law” means all supranational, international, national, state and local laws, statutes, 

regulations, rules, codes or ordinances enacted, adopted, issued or promulgated by any 

Governmental Authority or common law.

“Company” is defined in the preamble to this Agreement.

“Company Indemnitees” is defined in Section 6.2.
“Company Trademarks” means the trade names, trademarks, service marks, logos, product 

names, domain names, or other designations of Company and its Affiliates.

“Participant” is defined in the preamble to this Agreement.

“Participant Application and Agreement” means the agreement which Participant entered 

into with the Exchange to gain access to and Participant privileges of the Exchange.

“Participant Notice” has the same meaning as set forth in the Rules. “Party” and “Parties” 

are defined in the preamble to this Agreement. “Person” has the same meaning as set forth 

in the Rules.

“Platform” has the same meaning as set forth in the Rules.

“Platform Intellectual Property” is defined in Section 5.1.“Rules” means the rules of 

Company, as may be amended or modified from time to time.

“Third Party” and “Third Parties” mean any Person other than Company or Participant or an 

Affiliate of either Party.

“Trading Tools” means any applications, algorithms, software, interfaces, or code that 

Company may provide Participant under this Agreement for accessing and using the 

Platform.

Section 1.2. Defined Terms

Capitalized terms used herein but not defined in Section 1.1 of or elsewhere in this 

Agreement shall have the meanings set forth in the Rules.

ARTICLE 2. GENERAL REPRESENTATIONS AND WARRANTIES

Section 2.1. General Warranties.

Each Party represents and warrants to the other Party that:

2.1.1. The individual executing and delivering this Agreement has full power and authority 

to do so on its behalf.
2.1.2. This Agreement has been duly and validly authorized, executed and delivered on its 

behalf and constitutes a valid, binding and enforceable agreement in accordance with its 

terms.

2.1.3. Such Party’s execution, delivery and performance of this Agreement shall not 

constitute a violation, breach or default under any contract, instrument, obligation or 

agreement to which it is a Party or by which it is bound, and will not conflict with or violate 

any applicable Law of any Governmental Authority having jurisdiction over it or its assets or 

property.

Section 2.2. Compliance with Laws.

Participant represents, warrants and covenants that it shall comply with: (a) all applicable 

Laws, (b) all terms and conditions of this Agreement, and (c) the Rules, in connection with 

its exercise of its rights and obligations under this Agreement, including any and all use and 

access to the Platform and any related services.

Section 2.3.Participant represents and warrants to Company that, as of the date hereof and 

on an ongoing basis:

2.3.1. If Participant is an entity, it is duly organized, validly existing and in good standing 

under the laws of its jurisdiction of organization and each other jurisdiction in which the 

nature or conduct of its business requires such qualification, or in the case of an individual, 

is of the age of majority in the individual’s state of residence.

2.3.2. It has full power and authority (corporate and otherwise) to execute and deliver this 

Agreement and to perform its obligations under this Agreement.

2.3.3. It has received all necessary approvals and consents from all applicable 

Governmental Authorities to permit it to use the Platform and perform its obligations under 

this Agreement.

2.3.4. It is an Eligible Contract Participant, as such term is defined in section 1a(18) of the 

Commodity Exchange Act and CFTC Regulation 1.3(m).

2.3.5. There is not pending, or to the best of its knowledge threatened, any action, suit or 

proceeding before or by any Governmental Authority or self-regulatory body to which it is a 
party which seeks to affect the enforceability of this Agreement or Participant’s use of the 

Platform.

2.3.6. It will be subject to the Limitation of Liability and No Warranties provisions of the 

Rules, incorporated herein and made part hereof.Capitalized terms used herein but not 

defined in Section 1.1 of or elsewhere in this Agreement shall have the meanings set forth 

in the Rules.

ARTICLE 3. LICENSE GRANT; CERTAIN SPECIFIC RESTRICTIONS

Section 3.1. License Grant

3.1.1. Subject to the terms and conditions of this Agreement, Company hereby grants to 

Participant a personal, limited, non-exclusive, non-transferable, non-sublicensable, 

revocable right and license to use: (a) the Trading Tools, and (b) the Platform, in each case 

through Participant’s Authorized User(s) to access and use the Exchange. Participant may 

access/use the Platform and utilize any services and all information and content (including, 

without limitation, bids and offers, price and other trade-related data, whether generated by 

the Exchange, a Participant or an Authorized User) therein or in any way related to the 

Platform, only for soliciting and entering orders for itself or, with respect to an Executing 

Participant, for Customers for whom such Executing Participant is authorized to act.

3.1.2. In connection with the access to and use of the Platform, Participant may: either use 

the API Client Library pursuant to the applicable license agreement for same, or use its own 

compatible API based on Company’s API Specifications Document. Similarly, Participant 

may use the Trading Tools, or use its own compatible trading tools, in connection with 

access/use of the Platform. For the avoidance of doubt, to the extent Participant chooses 

to use the API Client Library, such use shall be governed by the applicable separate license 

agreement for the API Client Library. To the extent Participant chooses to use the Trading 

Tools, the term “Platform” shall hereinafter be deemed to include “Trading Tools” and shall 

be governed by this Agreement.

3.1.3. Participant may obtain access to the Platform via the Internet or by any other means 

deemed acceptable by Company, and may provide such access to Authorized User(s) 

identified by the Participant on an Authorized User Form. Participant shall not provide, 

share, or loan user identification and password information to any person other than 
Authorized Users. If an Authorized User leaves Participant’s employ, Participant will be 

responsible for informing Company in writing so that the user identification and password 

for the departing Authorized User can be deactivated. Participant is responsible for 

maintaining the confidentiality of user identifications and passwords, and is responsible for 

all user identifications and passwords, whether or not actually or expressly authorized by 

Company. Participant is responsible for ensuring its Authorized Users fully comply with this 

Agreement and any failure by Authorized Users to comply will constitute a breach by 

Participant.

3.1.4. Participant assumes all risk and bears sole responsibility for establishing such 

access, including, but not limited to, bearing all risk associated with any malfunction 

thereof, paying all applicable costs for establishing such access, and selecting its service 

provider. As between the Parties, Participant shall be solely responsible, at its own risk and 

expense, for acquiring, installing and maintaining all equipment, hardware and software 

(other than the Platform), Internet access, telecommunications, and network systems, 

including without limitation establishing and maintaining adequate security systems, 

necessary and compatible for it to securely access and use the Platform. All rights not 

expressly granted above are reserved by Company.

Section 3.2. Certain Specific Restrictions.

3.2.1. Participant will not use the Platform, or any related software that Company may 

provide to Participant under this Agreement, for the benefit of any Third Party or provide any 

Third Party with access to the Platform or any such software by any means, other than as is 

necessary in connection with an Authorized User.

3.2.2. Participant will not use or permit the use of the Platform for any illegal purpose or for 

any purpose deemed unacceptable by the Exchange in its sole discretion. It will not access 

the Platform in any jurisdiction in which to do so would be illegal or otherwise prohibited. It 

will not itself (and will not permit any Third Party to), in whole or in part, copy, reproduce, 

modify, decode, reverse engineer, reverse assemble or reverse compile the Platform or any 

related software that Company may provide to Participant under this Agreement, or any of 

the content or information displayed thereon or issued by the Platform or such software. 

Participant will not communicate, distribute, rent, sell, retransmit, redistribute, post, 

circulate, display, license or relicense, broadcast, publicly perform, create derivative works 
from, commercially exploit, publish or release the Platform or any related software that 

Company may provide to Participant under this Agreement or any of the content or 

information displayed thereon to any Third Party, except to an Authorized User as permitted 

by the Exchange. Participant will not attempt to gain unauthorized access to the Platform or 

any related software that Company may provide to Participant under this Agreement, 

through hacking, password or data mining, or any other means of circumventing any 

access-limiting, Authorized User authentication, or security device of the Platform or any 

such software.

3.2.3. Participant will not, without the Exchange’s prior written consent, directly or indirectly, 

redistribute, or facilitate redistribution of, all or any portion of the data on the Platform or 

any related software that Company may provide to Participant under this Agreement, 

including, but not limited to, the Exchange’s proprietary data, provided, however, that such 

consent shall not be required for (a) copying, reproducing or retransmitting information that 

is generally available to the public free of charge, (b) any part of the data on the Platform for 

the administration, regulatory and reporting purposes of Participant or its Authorized Users, 

(c) the solicitation and entry of orders for trades on the Platform, including, if applicable, 

orders transmitted via Participant’s internal automated order routing system, or (d) the 

provision of indicative valuations to Participant or its Authorized Users. Notwithstanding the 

foregoing, Participant represents, warrants and covenants that it and all of its Authorized 

Users shall only use such data for its and their own internal business purposes and 

processes, and not for any commercial purposes whatsoever.

3.2.4. Participant will not engage in any conduct that could damage, disable or overburden, 

or take any action that would impede or interfere with, the operation of the Platform or any 

related software that Company may provide to Participant under this Agreement, or any 

systems, networks, software, servers, websites, or accounts of Company or its Affiliates 

(including the Exchange), agents, or licensors. Capitalized terms used herein but not 

defined in Section 1.1 of or elsewhere in this Agreement shall have the meanings set forth 

in the Rules.

ARTICLE 4. FEES

Participant shall pay such transaction fees as are established and notified by Company in a 

Participant Notice from time to time and Participant authorizes Company to debit such fees 

from Participant’s account maintained on the books and records of Company.
ARTICLE 5. INTELLECTUAL PROPERTY

Section 5.1.

Participant acknowledges and agrees that the Platform, any related software that Company

may provide to Participant under this Agreement, and any nonpublic data generated by such 

Platform or related software are protected or protectable by Intellectual Property laws. As 

between the Parties, the Platform, any related software that Company (or its Affiliates) may 

provide to Participant under this Agreement (including the Trading Tools), and any 

nonpublic data generated by such Platform or software, including all Intellectual Property 

subsisting therein or related thereto, are the exclusive proprietary property of Company (all 

of the foregoing collectively “Platform Intellectual Property”). For the avoidance of doubt, 

Platform Intellectual Property shall also include (a) any and all derivatives, versions, 

improvements, error corrections, bug fixes, patches, updates or other modifications, 

customizations, suggestions, feedback, enhancements or extensions to, and adaptations 

and translations of the Platform; and (b) the order, sequence, arrangement and formatting 

of the data, results and output generated by the Platform. Participant and its Authorized 

Users will have no rights with respect to such Platform Intellectual Property except as 

expressly set forth in this Agreement. Unless otherwise expressly specified in writing by 

Company, Company reserves complete ownership, title and rights in and to materials 

Participant downloads from the Platform. Participant may use such materials for its 

internal, noncommercial use, provided that it does not alter or modify the materials, or 

delete or modify any copyright, trademark, or other proprietary rights notices, or 

disclaimers.

Section 5.2.

Participant will be responsible for ensuring that its Authorized Users, partners, officers, 

directors, employees and agents maintain sole control and possession of, and sole access 

to, nonpublic data generated by the Platform obtained by Participant and/or its Authorized 

Users, all of which shall constitute Confidential Information of Company pursuant to Article 

7, below.

Section 5.3.

This Agreement does not grant permission to Participant to use Company Trademarks. 

Without the prior written consent of Company, Participant shall not use (and shall not 

permit any Third Party to use) any Company Trademarks in any manner, except as required 

for reasonable and customary use to accurately and factually describe the origin of the 
Platform, and/or providing appropriate attribution, all of the foregoing in a form and format 

reasonably acceptable to Company. Participant acknowledges and agrees that all right, title 

and interest in and to the Company Trademarks and the goodwill associated with such 

trademarks shall be and remain the property of Company, and that the use of the Company

Trademarks and the goodwill associated therewith as permitted under this Agreement shall 

inure to the benefit of Company. Participant shall, in all its activities relating to this 

Agreement, conduct its obligations hereunder in a manner so as to preserve the goodwill of 

the Company Trademarks by not bringing Company, its Affiliates, or the Company

Trademarks into public disrepute, contempt, scandal or ridicule. Further, Participant shall 

not use any Company Trademarks in a manner to suggest Company’s endorsement or 

sponsorship of Participant, including any of Participant’s products or services. Participant 

shall not, and shall not permit any Third Party to, seek to register (including, as a trademark, 

domain name, company name or other source identifier), anywhere in the world, any of the 

Platform Intellectual Property, Company Trademarks, and/or any designation confusingly 

similar therewith.

ARTICLE 6. DISCLAIMERS; LIMITATION OF LIABILITY; INDEMNIFICATION

Section 6.1.

In addition to, and without limiting the generality of the “limitation of liability” and “no 

warranties” provisions of the rules as may be amended from time to time (as incorporated 

herein and made a part hereof pursuant to section 2.3.6 above, and available on the 

Company website), participant specifically acknowledges and agrees that the platform 

(including any provided trading tools), the platform intellectual property, the Company

trademarks, and any and all related information, materials, and services provided by or on 

behalf of Company or its affiliates in connection with this agreement, are provided on an 

“as-is,” “as available” basis without any representations or warranties of any kind. Company

makes no representation or warranty, express or implied, and, to the extent permitted by 

applicable law, expressly disclaims any and all such representations and warranties, 

including any with respect to timeliness, completeness, merchantability, noninfringement, 

or fitness for any particular purpose, or that api client will be error- free, uninterrupted, 

secure, or virus-free. Participant assumes the sole risk of making use of any of the 

foregoing. None of Company or any of its affiliates will be liable to participant or any other 

person or entity for any special, indirect, incidental or consequential damages of any kind 

arising from this agreement and/or access or use of the platform.
Section 6.2.

Participant agrees to defend, indemnify and hold harmless Company, its Affiliates and its 

and their respective officers, directors, employees, agents, representatives, successors and 

assigns (collectively “Company Indemnitees”), from and against any and all losses, 

liabilities, damages, actions, suits, demands or claims brought by any Third Party (including 

amounts paid in settlement, reasonable costs of investigation and reasonable attorneys’ 

fees and disbursements), arising out of or resulting from (a) the negligence, gross 

negligence, bad faith or intentional or willful misconduct of Participant or its Affiliates, 

Authorized Representatives or Authorized Users; (b) breach of any of Participant’s 

representations, warranties, covenants or agreements contained herein (including any use 

of the Platform Intellectual Property except as authorized herein); (c) any data, information, 

or content provided, used, uploaded, or transmitted by or on behalf of Participant in 

connection with its use of the Platform Intellectual Property; and/or (d) violation of Law by 

Participant or its Affiliates, Authorized Representatives or Authorized Users in connection 

with Participant’s performance under this Agreement.

Section 6.3.In connection with the foregoing indemnification obligation, Participant will not 

accept any settlement which does not provide the Company Indemnitees with a complete 

release or imposes liability not covered by these indemnifications or places restrictions on 

the Company Indemnitees without Company’s prior written consent, which consent will not 

be unreasonably withheld or delayed. The Company Indemnitees may participate in the 

defense of any claim through their own counsel, and at their own expense.

ARTICLE 7. CONFIDENTIALITY AND NON-USE

Section 7.1.

Each Party hereto acknowledges that it or its officers, directors, employees, agents, 

representatives, or Affiliates may, in the course of offering or using the Platform and any 

related services provided under this Agreement, be exposed to or acquire information 

regarding this Agreement, the terms of the arrangement reflected herein or other 

information that is proprietary to or confidential, including proprietary data or personal 

information collected or received for the purpose of fulfilling a regulatory obligation, to 

another Party, such Party’s Affiliates or Third Parties to whom such Party has a duty of 

confidentiality (“Confidential Information”). Each Party agrees to hold any Confidential 

Information in strict confidence and not to disclose such information to any Person, except 

as may be necessary in connection with the performance by such Party of its obligations to 
the other Party hereunder. Each Party will advise each of its officers, directors, employees, 

agents, representatives, or Affiliates who may be exposed to Confidential Information of 

their obligation to keep such information confidential.

Section 7.2.

The foregoing confidentiality obligations shall not apply to information that (a) is or 

becomes part of the public domain without breach of this Agreement by the Party 

disclosing such information; (b) was acquired by such party independently of the other 

Party and is not otherwise subject to an obligation of confidentiality; (c) is subsequently 

obtained by such Party from a Third Party not known by it to have an obligation to maintain 

the confidentiality of such information; (d) is developed independently by or on behalf of 

such Party, without reference to Confidential Information; (e) a Party has provided consent 

to the other Party whereby the latter Party is permitted to use the former Party’s 

Confidential Information without the restrictions set forth above; or (f) is disclosed pursuant 

to a requirement imposed on such Party by law, order, judgment, decree, or pursuant to any 

rule, regulation or request of or by any government, court, administrative or regulatory 

agency or commission, other governmental or regulatory authority or any self-regulatory 

organization. Notwithstanding anything to the contrary in this Agreement, nothing in this 

Agreement shall restrict a Party from disclosing Confidential Information to any 

governmental authority having jurisdiction over such party if (i) the Party is requested to do 

so thereby or (ii) the Party determines in its sole discretion that it is necessary or 

appropriate to provide such Confidential Information thereto, provided, in each case, that 

the Party providing the Confidential Information shall have, wherever applicable, taken 

reasonable steps to protect the confidentiality of such information as it would take with 

respect to the protection of its own comparable confidential information in such 

circumstances.

ARTICLE 8. TERM AND TERMINATION OF AGREEMENT

Section 8.1.

This Agreement will commence on the Effective Date, and will continue unless and until

terminated by: (a) Company or Participant upon thirty (30) calendar days’ prior written 

notice to the other Party; (b) immediately upon written notice by Company to Participant 

upon a breach of this Agreement, including but not limited to a breach of any Rules; and (c) 

immediately upon written notice by Company when there has been no activity in the 

Participant’s account(s) for a period of twelve (12) consecutive months.
Section 8.2.

Upon expiration or any termination of this Agreement: (a) all rights and licenses granted to 

Participant shall terminate automatically without further notice; (b) Participant shall 

immediately cease accessing and using the Platform Intellectual Property and the Company

Trademarks, and immediately return or destroy (at Company’s direction) any materials in its 

possession or control, in whatever form, consisting of, containing, and/or bearing, Platform 

Intellectual Property, Company Trademarks, and/or Confidential Information of Company, 

and certify in writing to Company that it has done so; (c) Participant shall not make any 

further reproductions (in electronic, hard copy, or any other format), of materials generated 

through the Platform prior to such expiration/termination; and (d) Company shall return or 

destroy (at Participant’s direction) any materials in its possession, in whatever form, 

containing Confidential Information of Participant. Notwithstanding the foregoing, copies of 

Confidential Information that are required to be retained by law or regulation or audit 

requirements or that are created pursuant to any automated archiving or back-up 

procedures which cannot reasonably be deleted may be retained; provided, however, that 

such Confidential Information shall continue to be subject to the terms of this Agreement. 

The Participant shall be bound by the Rules after the expiration or termination of this 

Agreement to the extent mandated by the Rules. In addition, the provisions of Section 3.2 

and Articles 5–9 shall survive any expiration or termination of this Agreement.

ARTICLE 9. MISCELLANEOUS

Section 9.1. Force Majeure.

Force Majeure. Except with respect to any obligations to make payments, no Party shall 

bear any responsibility or liability for any delay in or interruption of the performance of its 

obligations under this Agreement due to any act of God, fire, flood, earthquake or other 

natural disaster, severe or adverse weather conditions, equipment failure, communications 

line failure, act of governmental authority, judicial decree, act of the public enemy, war, 

terrorism, riot, civil commotion, insurrection, labor difficulty (including, without limitation, 

any straw or other work stoppage or slowdown), or other cause beyond the reasonable 

control of the Party so affected, provided that such nonperformance could not have been 

prevented by reasonable precautions (each, a “Force Majeure Event”). Upon any such Force 

Majeure Event, the obligations under this Agreement of the Party affected by such Force 

Majeure Event shall be postponed for such time as the performance of such Party is 

suspended or delayed on account thereof. The affected Party shall promptly notify the other 
Party upon learning of the occurrence of such Force Majeure Event. Upon the cessation of 

such Force Majeure Event, the affected Party will use its commercially reasonable efforts to 

resume its performance with the least delay practicable.

Section 9.2. Amendments. Company may amend this Agreement at any time by sending a 

Participant Notice to Participants and any such amendments will be binding on the 

Participant and its Authorized Users effective upon the sending of such Participant Notice. 

Company will endeavor to provide thirty (30) calendar days’ prior notice of amendments 

that are likely to materially and/or adversely affect the Participant or its rights hereunder. 

The Participant’s or its Authorized User’s continued use of the Platform after such 

Participant Notice is sent and the effective date of any amendment shall constitute the 

Participant’s ratification of, and agreement to, any such amendment.

Section 9.3. Waiver.No waiver by either party of any default by the other party in the 

performance of any provisions of this Agreement shall operate as a waiver of any 

continuing or future default, whether of a like or different character.

Section 9.4. Assignment.Participant may not assign or otherwise transfer (whether by 

operation of law, merger, consolidation, sale of all or substantially all of its assets, stock, or 

otherwise) this Agreement or any of its rights or obligations hereunder without the express 

prior written consent of Company (such consent not to be unreasonably withheld). Any act 

which is inconsistent with the terms of this Section shall ab initio be null and void and 

unenforceable. In contrast, Company may freely transfer its rights and/or obligations under 

this Agreement without the advance consent from or notice to the Participant (including, 

without limitation, to an Affiliate of Company, as part of the sale or exclusive license of all 

or substantially all of the business, assets, or stock of Company and/or in connection with 

any merger, consolidation, combination, plan of arrangement or reorganization of 

Company). Subject to the foregoing, this Agreement will be binding upon and will inure to 

the benefit of the Parties and their permitted successors and assigns.

Section 9.5. Severability.If, for any reason whatsoever, any one or more provisions of this 

Agreement shall be found to be inoperative, invalid, or unenforceable, that provision shall be 

reformed to the maximum extent permitted to preserve the Parties’ original intent; failing 

which, it shall be severed from this Agreement with the balance of this Agreement 

continuing in full force and effect.
Section 9.6. Counterparts.This Agreement may be executed in multiple counterparts, each 

of which shall be deemed an original, but all of which together shall constitute one 

agreement binding on the parties hereto.

Section 9.7. Whole Agreement.This Agreement, as amended or modified from time to time, 

shall constitute the entire agreement between Participant and Company respecting the 

Platform and related software and services described herein, and shall supersede all prior 

agreements, arrangements, representations or promises, whether oral or written, as to its 

subject matter. In the event that the terms of this Agreement are in conflict with any of the 

Rules or the Participant Application and Agreement, this Agreement shall prevail.

Section 9.8. Governing Law.This Agreement shall be governed by, and construed in 

accordance with, the Laws of the State of New York without regard to any provisions of 

New York Law that would apply the substantive Law of a different jurisdiction. Any dispute, 

claim or controversy arising out of or relating to this Agreement or the breach, termination, 

enforcement, interpretation or validity thereof, including the determination of the scope or 

applicability of this agreement to arbitrate, shall be determined by arbitration in New York 

City before three arbitrator(s) who shall be appointed in accordance with the Commercial 

Arbitration Rules of the American Arbitration Association. All arbitrators must have 

experience in the financial services industry, and no less than one arbitrator must have 

experience in the commodity futures or swap industry. The arbitration shall be administered 

by the American Arbitration Association pursuant to the Commercial Arbitration Rules of 

the American Arbitration Association. Judgment on the Award may be entered in any court 

having jurisdiction. This clause shall not preclude parties from seeking provisional remedies 

in aid of arbitration from a court of appropriate jurisdiction. In any arbitration arising out of 

or related to this Agreement, the arbitrator(s) shall award to the prevailing party, if any, the 

costs and attorneys’ fees reasonably incurred by the prevailing party in connection with the 

arbitration. If the arbitrator(s) determine a Party to be the prevailing Party under 

circumstances where the prevailing Party won on some but not all of the claims and 

counterclaims, the arbitrator(s) may award the prevailing Party an appropriate percentage 

of the costs and attorneys’ fees reasonably incurred by the prevailing Party in connection 

with the arbitration.

Section 9.9. Notices.Notices relating to this Agreement shall be sent 

to compliance.derivs@ftx.us

Appendix E
FTX US Derivatives Privacy Policy

Last updatedUpdated: March 6, 2020

Ledger Holdings, Inc. ("us", "24, 2022

LedgerX LLC d/b/a FTX US Derivatives (“FTX US Derivatives”, “we",” or "our") 

operates https://www.ledgerx.com (the "Site"). This page informs“us”) provides a 

cryptocurrency trading exchange and clearinghouse available at derivs.ftx.us. This Privacy Policy is 

designed to help you understand how we collect, use, process, and share your personal information and to 

help you understand and exercise your privacy rights within the scope of applicable laws. 

1. SCOPE

2. PERSONAL INFORMATION WE COLLECT

3. HOW WE USE YOUR INFORMATION

4. HOW WE DISCLOSE YOUR INFORMATION

5. YOUR PRIVACY CHOICES AND RIGHTS

6. SECURITY OF YOUR INFORMATION

7. INTERNATIONAL DATA TRANSFERS

8. RETENTION OF PERSONAL INFORMATION

9. SUPPLEMENTAL NOTICE FOR CALIFORNIA RESIDENTS

10. SUPPLEMENTAL NOTICE FOR NEVADA RESIDENTS

11. SUPPLEMENTAL NOTICE FOR EU RESIDENTS

12. CHILDREN’S INFORMATION

13. OTHER PROVISIONS

14. CONTACT US

1. SCOPE

This Privacy Policy applies to personal information processed by us, including on our websites, mobile 

applications, and other online or offline offerings. To make this Privacy Policy easier to read, our policies 

regarding the collection, use and disclosure of Personalwebsites, mobile applications, and other 

offerings are collectively called “Services.” For more information on how we process your nonpublic 
personal information as a financial institution, please refer to our Financial Information wePrivacy Notice 

available at https://derivs.ftx.us/legal.

2. PERSONAL INFORMATION WE COLLECT

The categories of personal information we collect depend on how you interact with us, our Services, and 

the requirements of applicable law. We collect information that you provide to us, information we obtain 

automatically when you use our Services, and information from other sources such as third-party services 

and organizations, as described below.

A. Information You Provide to Us Directly

We may collect the following personal information that you provide to us.

• Account Creation and Maintenance. To create an account with us and use our Services, we may 

collect the following information from you: 

o Identification information: First and last name, date of birth, gender, phone number, email, 

government identification number (including tax identification number, driver’s license

number and passport number), tax forms for foreign individuals, and other information 

necessary to verify your identity to comply with our regulatory obligations under financial 

or anti-money laundering laws;

o Institutional information: If you are an institutional customer, we may collect your 

institution’s legal name, Employer Identification number (or comparable number issued by 

a government), proof of legal formation and good standing (e.g. Articles of Incorporation),

tax forms for foreign entities, ownership structure and/or ownership documentation, and 

personal identification information for all material beneficial owners;

o Financial information: Bank account information, routing number, transaction history, 

trading data, transaction identifier, blockchain destination address for withdrawals, source 

of wealth, and/or tax identification number;

o Transaction information: Information about the transactions you make using our Services, 

such as the name of the recipient and the trading amount;

o Employment information: Your job title, office location or income; and 

o Correspondence: Information you provide to our support teams; and

o Other Background Information: We may collect additional background information in 

accordance with our regulatory obligations or anti-money laundering laws.

• Wallet. To access some of the Services, you may need to provide us with information related to 

your digital asset wallet (each, a “Wallet”). Please note that we will not host, custody, or take 

possession of your private key or the contents of the Wallet. 

• Blockchain and Transfer-Related Information. In order to engage in transfers on the Services, 

you will need to provide us with access to or information about your Wallet and transfers on the

Platform. As you use the Services, we may collect personal information and details associated with 
the transfers you are involved with, such as your Wallet’s public address. We may collect your 

payment information if transfer fees or Gas fees are imposed by the associated blockchain.

• Your Communications with Us. We may collect personal information, such as email address, 

phone number, or mailing address when you request information about our Services, register for 

our newsletter or loyalty program, request customer or technical support, apply for a job, or 

otherwise communicate with us.

• Surveys. We may contact you to participate in surveys. If you decide to participate, you may be 

asked to provide certain information which may include personal information.

• Social Media Content. We may offer forums, blogs, or social media pages. If you decide to 

provide content on these channels, you may be asked to provide certain information which may 

include personal information.

• Sweepstakes or Contests. We may collect personal information you provide for any sweepstakes 

or contests that we offer. In some jurisdictions, we are required to publicly share information of 

sweepstakes and contest winners.

• Conferences, Trade Shows, and Other Events. We may collect personal information from 

individuals when we attend conferences, trade shows, and other events. 

• Business Development and Strategic Partnerships. We may collect personal information from 

individuals and third parties to assess and pursue potential business opportunities. 

• Job Applications. We may post job openings and opportunities on our Services. If you reply to 

one of these postings by submitting your application, CV and/or cover letter to us, we will collect 

and use your information to assess your qualifications.

B. Information Collected Automatically 

We may collect personal information automatically when you use our Services:

• Automatic Data Collection. We may collect certain information automatically when you use our 

Services, such as your Internet protocol (IP) address, user settings, MAC address, cookie 

identifiers, mobile carrier, mobile advertising and other unique identifiers, browser or device 

information, location information (including approximate location derived from IP address), and 

Internet service provider. We may also automatically collect information regarding your use of our 

Services, such as pages that you visit before, during and after using our Services, information about 

the links you click, the types of content you interact with, the frequency and duration of your 

activities, and other information about how you use our Services. 

• Cookies, Pixel Tags/Web Beacons, and Other Technologies. We, as well as third parties that 

provide content, advertising, or other functionality on our Services, may use cookies, pixel tags, 

local storage, and other technologies (“Technologies”) to automatically collect information 

through your use of our Services. 

• Cookies. Cookies are small text files placed in device browsers that store preferences and 

facilitate and enhance your experience.
• Pixel Tags/Web Beacons. A pixel tag (also known as a web beacon) is a piece of code 

embedded in our Services that collects information about engagement on our Services. The use 

of a pixel tag allows us to record, for example, that a user has visited a particular web page or 

clicked on a particular advertisement. We may also include web beacons in e-mails to 

understand whether messages have been opened, acted on, or forwarded.

Our uses of these Technologies fall into the following general categories:

• Operationally Necessary. This includes Technologies that allow you access to our Services, 

applications, and tools that are required to identify irregular website behavior, prevent 

fraudulent activity and improve security or that allow you to make use of our functionality;

• Performance-Related. We may use Technologies to assess the performance of our Services, 

including as part of our analytic practices to help us understand how individuals use our 

Services (see Analytics below). For example, we may track your activity on the Services, 

including recordings of your interactions with the Services;

• Functionality-Related. We may use Technologies that allow us to offer you enhanced 

functionality when accessing or using our Services. This may include identifying you when 

you sign into our Services or keeping track of your specified preferences, interests, or past 

items viewed;

• Advertising- or Targeting-Related. We may use first party or third-party Technologies to 

deliver content, including ads relevant to your interests, on our Services or on third-party 

websites.

See “Your Privacy Choices and Rights” below to understand your choices regarding these 

Technologies.

• Analytics. We may use Technologies and other third-party tools to process analytics information 

on our Services. Some of our analytics partners include:

• Google Analytics. For more information, please visit Google Analytics’ Privacy Policy. To 

learn more about how to opt-out of Google Analytics’ use of your information, please click 

here.

• Plaid. We may use Plaid Technologies, Inc. (“Plaid”), as a vendor to collect information about 

you, and you acknowledge and agree that the terms and conditions of Plaid’s privacy policy 

(found here: https://plaid.com/legal/#privacy-policy) will govern Plaid’s use of such 

information, and that you expressly agree to the terms and conditions of Plaid’s privacy policy. 

You hereby expressly grant Plaid the right, power, and authority to access and transmit your 

information as reasonably necessary for Plaid to provide its services to you in connection with 

your use of the Services.

• FullStory. We use FullStory for recording your interactions with our Services which helps us 

deliver a better user experience. For more information on the privacy practices of FullStory, 

please visit https://www.fullstory.com/legal/privacy/. 

• VWO. We may use VWO, offered by Wingify Software Pvt. Ltd. (“Wingify”), to run A/B 

tests on our Services and deliver a better user experience. For more information on the privacy 

practices of Wingify, please visit https://vwo.com/privacy-policy/. 
• Social Media Platforms. Our Services may contain social media buttons such as Discord, Twitter, 

Instagram, Facebook, and LinkedIn (that might include widgets such as the “share this” button or 

other interactive mini programs). These features may collect your IP address, which page you are 

visiting on our Services, and may set a cookie to enable the feature to function properly. Your 

interactions with these platforms are governed by the privacy policy of the company providing it.

C. Information Collected from Other Sources

We may obtain information about you from other sources, including through third-party services and 

organizations. For example, if you access our Services through a third-party application, such as an app 

store, a third-party login service, or a social networking site, we may collect information about you from 

that third-party application that you have made available via your privacy settings. 

3. HOW WE USE YOUR INFORMATION

We use your information for a variety of business purposes, including to provide our Services, for 

administrative purposes, and to market our products and Services, as described below.

A. Provide Our Services

We use your information to fulfill our contract with you and provide you with our Services, such as:

• Managing your information and accounts;

• Providing access to certain areas, functionalities, and features of our Services;

• Answering requests for customer or technical support; 

• Communicating with you about your account, activities on our Services, and policy changes;

• Processing applications if you apply for a job we post on our Services; and

• Allowing you to register for events.

B. Administrative Purposes

We use your information for various administrative purposes, such as:

• Pursuing our legitimate interests such as direct marketing, research and development (including 

marketing research), network and information security, and fraud prevention;

• Detecting security incidents, protecting against malicious, deceptive, fraudulent or illegal activity, 

and prosecuting those responsible for that activity;

• Measuring interest and engagement in our Services; 

• Short-term, transient use, such as contextual customization of ads;

• Improving, upgrading or enhancing our Services; 

• Developing new products and Services;

• Ensuring internal quality control and safety;

• Authenticating and verifying individual identities, including requests to exercise your rights under 

this policy;

• Debugging to identify and repair errors with our Services;

• Auditing relating to interactions, transactions and other compliance activities;

• Enforcing our agreements and policies; and

• Complying with our legal obligations.

C. Marketing and Advertising our Products and Services
We may use personal information to tailor and provide you with content and advertisements. We may 

provide you with these materials as permitted by applicable law. 

Some of the ways we market to you include email campaigns, custom audiences advertising.

If you have any questions about our marketing practices, you may contact us at any time as set forth in 

“Contact Us” below. 

D. Other Purposes

We also use your information for other purposes as requested by you or as permitted by applicable law.

• Consent. We may use personal information for other purposes that are clearly disclosed to you at 

the time you provide personal information or with your consent.

• Blockchain Data: We may analyze public blockchain data to ensure parties utilizing our Services 

are not engaged in illegal or prohibited activity under our Terms of Service, and to analyze 

transaction trends for research and development purposes.

• De-identified and Aggregated Information. We may use personal information and other 

information about you to create de-identified and/or aggregated information, such as de-identified 

demographic information, information about the device from which you access our Services, or 

other analyses we create.

• Share Content with Friends or Colleagues. Our Services may offer various tools and 

functionalities. For example, we may allow you to provide information about your friends through 

our referral services. Our referral services may allow you to forward or share certain content with 

a friend or colleague, such as an email inviting your friend to use our Services. Please only share 

with us contact information of people with whom you have a relationship (e.g., relative, friend 

neighbor, or co-worker)

E. Automated profiling

We may use technologies considered automated decision making or profiling. We will not make automated 

decisions about you that would significantly affect you, unless such a decision is necessary as part of a 

contract we have with you, we have your consent, or we are permitted by law to use such technology. You 

may escalate any concerns you have by contacting us below.

4. HOW WE DISCLOSE YOUR INFORMATION

We disclose your information to third parties for a variety of business purposes, including to provide our 

Services, to protect us or others, or in the event of a major business transaction such as a merger, sale, or 

asset transfer, as described below. 

A. Disclosures to Provide our Services

The categories of third parties with whom we may share your information are described below. 

• Collaborations and Influencers. We may share your information with other collaborators, influencers, 

and charities.
• Service Providers. We may share your personal information with our third-party service providers 

who use that information to help us provide our Services. This includes, but is not limited to, service 

providers that provide us with background checks or identity verification, data analysis, and business 

intelligence; marketing support services providers; consumer research service providers; IT and related 

services; banks and trust companies; information and services; payment processors; customer service 

providers; and vendors to support the provision of the Services, such as infrastructure and cloud service 

providers.

• Business Partners. We may provide personal information to business partners with whom we jointly 

offer products or services. In such cases, our business partner’s name will appear along with ours.

• Affiliates. We may share your personal information with members of our corporate family

(“Affiliates”).

• Advertising Partners. We may share your personal information with third-party advertising partners. 

These third-party advertising partners may set Technologies and other tracking tools on our Services to 

collect information regarding your activities and your device (e.g., your IP address, cookie identifiers, 

page(s) visited, location, time of day). These advertising partners may use this information (and similar 

information collected from other services) for purposes of delivering personalized advertisements to 

you when you visit digital properties within their networks. This practice is commonly referred to as 

“interest-based advertising” or “personalized advertising.” 

• APIs/SDKs. We may use third-party Application Program Interfaces (“APIs”) and Software 

Development Kits (“SDKs”) as part of the functionality of our Services. For more information about 

our use of APIs and SDKs, please contact us as set forth in “Contact Us” below.

B. Disclosures to Protect Us or Others

We may access, preserve, and disclose any information we store associated with you to external parties if 

we, in good faith, believe doing so is required or appropriate to: comply with law enforcement or national 

security requests and legal process, such as a court order or subpoena; comply with requirements or requests 

of the U.S. Commodity Futures Trading Commission or the U.S. Securities and Exchange Commission; 

comply with regulatory compliance obligations; protect your, our, or others’ rights, property, or safety; 

enforce our policies or contracts; collect amounts owed to us; or assist with an investigation or prosecution 

of suspected or actual illegal activity.

C. Disclosure in the Event of Merger, Sale, or Other Asset Transfers

If we are involved in a merger, acquisition, financing due diligence, reorganization, bankruptcy, 

receivership, purchase or sale of assets, or transition of service to another provider, your information may 

be sold or transferred as part of such a transaction, as permitted by law and/or contract.

5. YOUR PRIVACY CHOICES AND RIGHTS

Your Privacy Choices. The privacy choices you may have about your personal information are determined 

by applicable law and are described below. 

• Email and Telephone Communications. If you receive from an unwanted email from us, you 

can use the unsubscribe link found at the bottom of the email to opt out of receiving future emails. 

Note that you will continue to receive transaction-related emails regarding products or Services 

you have requested. We may also send you certain non-promotional communications regarding us 
and our Services, and you will not be able to opt out of those communications (e.g., 

communications regarding our Services or updates to our Terms of Service or this Privacy Policy, 

or regulatory compliance related communications). 

We process requests to be placed on do-not-mail, do-not-phone, and do-not-contact lists as required 

by applicable law.

• “Do Not Track.” Do Not Track (“DNT”) is a privacy preference that users of the Site.

We use your can set in certain web browsers. Please note that we do not respond to or honor DNT 

signals or similar mechanisms transmitted by web browsers.

• Cookies and Interest-Based Advertising. You may stop or restrict the placement of Technologies 

on your device or remove them by adjusting your preferences as your browser or device permits. 

However, if you adjust your preferences, our Services may not work properly. Please note that 

cookie-based opt-outs are not effective on mobile applications. However, you may opt-out of 

personalized advertisements on some mobile applications by following the instructions for 

Android, iOS and others.

The online advertising industry also provides websites from which you may opt out of receiving 

targeted ads from data partners and other advertising partners that participate in self-regulatory 

programs. You can access these and learn more about targeted advertising and consumer choice 

and privacy by visiting the Network Advertising Initiative, the Digital Advertising Alliance, the 

European Digital Advertising Alliance, and the Digital Advertising Alliance of Canada. 

Please note you must separately opt out in each browser and on each device. 

Your Privacy Rights. In accordance with applicable law, you may have the right to:

• Access Personal Information about you, including: (i) confirming whether we are processing your 

personal information; (ii) obtaining access to or a copy of your personal information in a structured, 

commonly used, and machine readable format; and (iii) receiving an electronic copy of personal 

information that you have provided to us, or asking us to send that information to another company

in a structured, commonly used, and machine readable format (the “right of data portability”);

• Request Correction of your personal information where it is inaccurate or incomplete. In some 

cases, we may provide self-service tools that enable you to update your personal information;

• Request Deletion of your personal information; 

• Request Restriction of or Object to our processing of your personal information; and 

• Withdraw your Consent to our processing of your personal information.

If you would like to exercise any of these rights, please contact us as set forth in “Contact Us” below. We 

will process such requests in accordance with applicable laws. To protect your privacy, we will take steps 

to verify your identity before fulfilling your request. Depending on the context of your request, such as 

deletion, we may not be able to provide you with access to some or all of our Services, since we process 

your information in order to provide you with such access.
6. SECURITY OF YOUR INFORMATION

We take steps to ensure that your information is treated securely and in accordance with this Privacy Policy.

All information you provide to us is stored on secure servers belonging to us or industry-leading third-party 

vendors. We have implemented procedures to safeguard customer Personal Information only for 

providing and improving the Site. . We restrict access to Personal Information to those employees who 

need to know that information in order to provide our products or services to you. We maintain physical, 

electronic and procedural safeguards to safeguard Personal Information. We protect customer account 

information by keeping it on the secure portion of our website, using firewalls and other security technology 

to protect our network and systems from external attacks, and by requiring customers to enter a unique user 

ID and password to access our systems. We conduct periodic internal audits of our business practices and 

procedures, examining our confidentiality standards and information access, in order to best protect our 

customers’ Personal Information.

Unfortunately, no system is 100% secure, and we cannot ensure or warrant the security of any information 

you provide to us. We have taken appropriate safeguards to require that your personal information will 

remain protected and require our third-party service providers and partners to have appropriate safeguards 

as well. To the fullest extent permitted by applicable law, we do not accept liability for unauthorized 

disclosure.

By using the Site, you agree to the collection and use of information in accordance with this 

policyour Services or providing personal information to us, you agree that we may communicate with you 

electronically regarding security, privacy, and administrative issues relating to your use of our Services. If 

we learn of a security system’s breach, we may attempt to notify you electronically by posting a notice on 

our Services, by mail or by sending an email to you.

Information Collection And Use

We want you to understand the types of information we collect when you register for and 

use LedgerX platform and services.

Information you provide to us at registration

While using our Site, we may ask you to provide us with certain personally identifiable 

information that can be used to contact or identify you. Personally identifiable information 

may include, but is not limited to your name, last name and email.

When you create a LedgerX Account, you provide us with personal information that includes 

your contact information (Email Address, name, and a password), as well as the required 

documents to comply with the KYC process. You will also need to download an 

Authenticator app of your choice, such as Google Authenticator, to be used for 2FA 

verification for improved security of your account.

Information we collect when authenticating user identity

To comply with global industry regulatory standards including Anti-Money Laundering 
(AML), Know-Your-Customer (KYC), and Counter Terrorist Financing (CTF), LedgerX 

requires user accounts to undergo user identity authentication for both Personal & 

Enterprise-level accounts. This entails collecting formal identification.

Information we collect as you use our services

Service Usage Information Through your use of the LedgerX platform, we also monitor and 

collect tracking information related to usage such as access date & time, device 

identification, operating system, browser type, browser version, the pages of our Site that 

you visit, IP address, and other statistics. This information may be directly obtained by 

LedgerX or through third party services. This service usage data helps us our systems to 

ensure that our interface is accessible for users across all platforms and can aid during 

criminal investigations.

Transaction Information

For all personal and enterprise user accounts, we collect transaction information including 

deposit snapshots, account balances, trade history, withdrawals, order activity and 

distribution history. This transaction data is monitored for suspicious trading activity for 

user fraud protection, and legal case resolution.

Communications

We may use your Personal Information to contact you with newsletters, marketing or 

promotional materials and other information that may be of interest to you. You may opt 

out of receiving any, or all, of these communications from us by following the unsubscribe 

link or instructions provided in any email we send.

Cookies

Cookies are files with small amount of data, which may include an anonymous unique 

identifier. Cookies are sent to your browser from a web site and stored on your computer's 

hard drive.

Like many sites, we use "cookies" to collect information. You can instruct your browser to 

refuse all cookies or to indicate when a cookie is being sent. However, if you do not accept 

cookies, you may not be able to use some portions of our Site.
Changes To This Privacy Policy

This Privacy Policy is effective as of March 6, 2020 and will remain in effect except with 

respect to any changes in its provisions in the future, which will be in effect immediately 

after being posted on this page.

We reserve the right to update or change our Privacy Policy at any time and you should 

check this Privacy Policy periodically. Your continued use of the Service after we post any 

modifications to the Privacy Policy on this page will constitute your acknowledgment of the 

modifications and your consent to abide and be bound by the modified Privacy Policy.If we 

make any material changes to this Privacy Policy, we will notify you either through the email 

address you have provided us, or by placing a prominent notice on our website.

Contact us

If you have any questions about this Privacy Policy, please contact us. We may use your 

Personal Information to contact you with newsletters, marketing or promotional materials 

and other information that may be of interest to you. You may opt out of receiving any, or 

all, of these communications from us by following the unsubscribe link or instructions 

provided in any email we send.

Business address:

1110 Brickell Avenue, Suite 430k-200

Miami, FL 33131

7. INTERNATIONAL DATA TRANSFERS 

All information processed by us may be transferred, processed, and stored anywhere in the world, including, 

but not limited to, the United States or other countries, which may have data protection laws that are 

different from the laws where you live. We endeavor to safeguard your information consistent with the 

requirements of applicable laws.

If we transfer personal information to countries outside the European Economic Area, we will put in place 

appropriate safeguards to ensure that this transfer complies with the applicable laws and regulations. For 

more information about these safeguards, please contact us as set forth below.

8. RETENTION OF PERSONAL INFORMATION 

We store the personal information we collect as described in this Privacy Policy for as long as you use our 

Services or as necessary to fulfill the purpose(s) for which it was collected, provide our Services, resolve 

disputes, establish legal defenses, conduct audits, pursue legitimate business purposes, enforce our 
agreements, and comply with applicable laws and our regulatory compliance obligations as determined by 

us or our regulators in our or their sole discretion.

We may also retain aggregate information beyond this time for research purposes and to help us develop 

and improve our services. You cannot be identified from aggregate information retained or used for these 

purposes. 

9. SUPPLEMENTAL NOTICE FOR CALIFORNIA RESIDENTS

This Supplemental California Privacy Notice only applies to our processing of personal information that 

is subject to the California Consumer Privacy Act of 2018 (“CCPA”). The CCPA provides California 

residents with the right to know what categories of personal information FTX US Derivatives has 

collected about them and whether FTX US Derivatives disclosed that personal information for a business 

purpose (e.g., to a service provider) in the preceding 12 months. California residents can find this 

information below:

Category of Personal Information Collected by 

FTX US Derivatives

Category of Third Parties 

Information is Disclosed to for 

a Business Purpose

Identifiers. 

A real name, alias, postal address, unique personal identifier, online 

identifier, Internet Protocol address, email address, account name, user 

name, Social Security number, or other similar identifiers. 

• Internet service providers

• Data analytics providers

• Government entities

• Operating systems and platforms

• Blockchain networks

• Social networks

• Service providers

• Other users

• Affiliates

Personal information categories listed in the California Customer 

Records statute (Cal. Civ. Code § 1798.80(e))

A name, signature, Social Security number, physical characteristics or 

description, address, telephone number, passport number, driver's license or 

state identification card number, insurance policy number, education, 

employment, employment history, bank account number, credit card 

number, debit card number, or any other financial information. Personal 

Information does not include publicly available information that is lawfully 

made available to the general public from federal, state, or local government 

records. Note: Some personal information included in this category may 

overlap with other categories.

• Government entities

• Service providers

• Affiliates

Commercial information

Transactions, transaction history, products or services purchased, obtained, 

or considered, or other purchasing or consuming histories or tendencies.

• Service providers

• Blockchain networks

• Other users

• Affiliates

Internet or other electronic network activity

Browsing history, search history, information on a consumer's interaction 

with an internet website, application, or advertisement.

• Advertising partners

• Data analytics providers

• Service providers
Category of Personal Information Collected by 

FTX US Derivatives

Category of Third Parties 

Information is Disclosed to for 

a Business Purpose

• Affiliates

The categories of sources from which we collect personal information and our business and commercial 

purposes for using personal information are set forth in “Personal Information We Collect” and “How We 

Use Your Personal Information” above, respectively. 

Disclosures of Personal Information under the CCPA

FTX US Derivatives does not sell personal information. However, if you elect to do so, we may disclose 

your information to our partners. To the extent that such disclosure is, for legal purposes, deemed to be a 

“sale” under the CCPA, you may opt-out of having your information disclosed by not opting in 

to disclose your information, disabling third-party cookies on your device, or by contacting us as set forth 

in “Contact Us” below. 

Opt-out. California residents may opt-out of the disclosure of their personal information to our partners by

contacting us as set forth in “Contact Us” below.

Additional Privacy Rights for California Residents

Non-Discrimination. California residents have the right not to receive discriminatory treatment by us for 

the exercise of their rights conferred by the CCPA.

Authorized Agent. Only you, or someone legally authorized to act on your behalf, may make a verifiable 

consumer request related to your personal information. You may also make a verifiable consumer request 

on behalf of your minor child. To designate an authorized agent, please contact us as set forth in “Contact 

Us” below and provide written authorization signed by you and your designated agent.

Verification. To protect your privacy, we will take steps the following steps to verify your identity before 

fulfilling your request. When you make a request, we will ask you to provide sufficient information that 

allows us to reasonably verify you are the person about whom we collected personal information or an 

authorized representative, which may include asking you to answer questions regarding your account and 

use of our Services.

If you are a California resident and would like to exercise any of your rights under the CCPA, please contact 

us as set forth in “Contact Us” below. We will process such requests in accordance with applicable laws. 

Accessibility. This Privacy Policy uses industry-standard technologies and was developed in line with the 

World Wide Web Consortium’s Web Content Accessibility Guidelines, version 2.1. If you wish to print 

this policy, please do so from your web browser or by saving the page as a PDF.

10. SUPPLEMENTAL NOTICE FOR NEVADA RESIDENTS

If you are a resident of Nevada, you have the right to opt-out of the sale of certain Personal Information to 

third parties who intend to license or sell that Personal Information. You can exercise this right by 

contacting us at privacy.derivs@ftx.us with the subject line “Nevada Do Not Sell Request” and providing 
us with your name and the email address associated with your account. Please note that we do not 

currently sell your Personal Information as sales are defined in Nevada Revised Statutes Chapter 603A. If 

you have any questions, please contact us as set forth below.

11. SUPPLEMENTAL NOTICE FOR EU RESIDENTS

The data that we process in relation to you may be transferred to, and stored at, a destination outside the 

European Economic Area (“EEA”) that may not be subject to equivalent data protection law. It may also 

be processed by staff situated outside the EEA who work for us or for one of our suppliers.

We may transfer your personal information outside the EEA:

• In order to store it; 

• In order to enable us to provide goods or services to and fulfill our contract with you or the 

company you work for. This includes order fulfillment, processing of payment details, and 

the provision of support services; 

• Where we are legally required to do so; or

• In order to facilitate the operation of our group of businesses, where it is in our legitimate 

interests; and we have concluded these are not overridden by your rights.

Where your information is transferred outside the EEA, we will take all steps reasonably necessary to 

ensure that your data is subject to appropriate safeguards, such as relying on a recognized legal adequacy 

mechanism, and that it is treated securely and in accordance with this Privacy Policy.

We may transfer your personal information to: 

• Any member of our group, which means our subsidiaries, our ultimate holding company and 

its subsidiaries; or

• Our vendors;

and for these transfers we use European Commission approved contractual clauses for transfers (referred 

to as “Model Clauses”).

Your Data Subject Rights

You have the right under certain circumstances:

• to receive information about the processing of Personal Information concerning you. You are 

entitled

• to access your Personal Information

• to request the rectification or erasure of your Personal Information held by us

• to object to the further processing of your Personal Information, including the right to object 

to marketing

• to request that your provided Personal Information be moved to a third party.

Depending on the context of your request, such as erasure, we may not be able to provide you with access 

to some or all of the Services, since we process your information in order to provide you with such 

access.
Your right to withdraw consent:

Where the processing of your Personal Information by us is based on consent, you have the right to 

withdraw that consent at any time by contacting us as described in “Contact Us” below.

How to exercise your rights

You can also exercise the rights listed above at any time by contacting us at privacy.derivs@ftx.us

If your request or concern is not satisfactorily resolved by us, you may approach your local data 

protection authority (to your habitual residence, your place of work, or where the alleged infringement 

took place).

12. CHILDREN’S INFORMATION

The Services are not directed to children under 13 (or other age as required by local law), and we do not 

knowingly collect personal information from children.

If you are a parent or guardian and believe your child has uploaded personal information to our site without 

your consent, you may contact us as described in “Contact Us” below. If we become aware that a child has 

provided us with personal information in violation of applicable law, we will delete any personal 

information we have collected, unless we have a legal obligation to keep it, and terminate the child’s 

account if applicable.

13. OTHER PROVISIONS

Third-Party Websites/Applications. The Services may contain links to other websites/applications and 

other websites/applications may reference or link to our Services. These third-party services are not 

controlled by us. We encourage our users to read the privacy policies of each website and application with 

which they interact. We do not endorse, screen or approve, and are not responsible for, the privacy practices 

or content of such other websites or applications. Providing personal information to third-party websites or 

applications is at your own risk. 

Supervisory Authority. If you are located in the European Economic Area, Switzerland, the United 

Kingdom or Brazil, you have the right to approach your local data protection authority if you have concerns 

about our processing of your personal information and such concerns are not satisfactorily resolved by us.

Notification of Policy, and Changes to our Privacy Policy. We provide an initial notice of this Privacy 

Policy to customers at the time we establish a customer relationship, and at least annually thereafter, and 

the Privacy Policy is dated and posted on its website. We may revise this Privacy Policy from time to time 

in our sole discretion. If there are any material changes to this Privacy Policy, we will notify you as required 

by applicable law. You understand and agree that you will be deemed to have accepted the updated Privacy 

Policy if you continue to use our Services after the new Privacy Policy takes effect. Updates will be posted 

on the website, so our customers will always know what information we collect, how we use it, and what 

choices they have.
14. CONTACT US

If you have any questions about our privacy practices or this Privacy Policy, or to exercise your rights as 

detailed in this Privacy Policy, please contact us at:

LedgerX LLC d/b/a FTX US Derivatives

Address: 1110 Brickell Ave, Suite 430k-200

Miami, FL 33131

Attn: Legal

Email: privacy.derivs@ftx.us
Appendix F
FTX US Derivatives Privacy Policy

Last Updated: March 24, 2022

LedgerX LLC d/b/a FTX US Derivatives(“FTX US Derivatives”, “we” or “us”) provides a cryptocurrency 

trading exchange and clearinghouse available at derivs.ftx.us. This Privacy Policy is designed to help you 

understand how we collect, use, process, and share your personal information and to help you understand 

and exercise your privacy rights within the scope of applicable laws. 

1. SCOPE

2. PERSONAL INFORMATION WE COLLECT

3. HOW WE USE YOUR INFORMATION

4. HOW WE DISCLOSE YOUR INFORMATION

5. YOUR PRIVACY CHOICES AND RIGHTS

6. SECURITY OF YOUR INFORMATION

7. INTERNATIONAL DATA TRANSFERS

8. RETENTION OF PERSONAL INFORMATION

9. SUPPLEMENTAL NOTICE FOR CALIFORNIA RESIDENTS

10. SUPPLEMENTAL NOTICE FOR NEVADA RESIDENTS

11. SUPPLEMENTAL NOTICE FOR EU RESIDENTS

12. CHILDREN’S INFORMATION

13. OTHER PROVISIONS

14. CONTACT US

1. SCOPE

This Privacy Policy applies to personal information processed by us, including on our websites, mobile 

applications, and other online or offline offerings. To make this Privacy Policy easier to read, our websites, 

mobile applications, and other offerings are collectively called “Services.” For more information on how 

we process your nonpublic personal information as a financial institution, please refer to our Financial 

Information Privacy Notice available at https://derivs.ftx.us/legal.
2. PERSONAL INFORMATION WE COLLECT

The categories of personal information we collect depend on how you interact with us, our Services, and 

the requirements of applicable law. We collect information that you provide to us, information we obtain 

automatically when you use our Services, and information from other sources such as third-party services 

and organizations, as described below.

A. Information You Provide to Us Directly

We may collect the following personal information that you provide to us.

• Account Creation and Maintenance. To create an account with us and use our Services, we may 

collect the following information from you: 

o Identification information: First and last name, date of birth, gender, phone number, email, 

government identification number (including tax identification number, driver’s license

number and passport number), tax forms for foreign individuals, and other information 

necessary to verify your identity to comply with our regulatory obligations under financial 

or anti-money laundering laws;

o Institutional information: If you are an institutional customer, we may collect your 

institution’s legal name, Employer Identification number (or comparable number issued by 

a government), proof of legal formation and good standing (e.g. Articles of Incorporation),

tax forms for foreign entities, ownership structure and/or ownership documentation, and 

personal identification information for all material beneficial owners;

o Financial information: Bank account information, routing number, transaction history, 

trading data, transaction identifier, blockchain destination address for withdrawals, source 

of wealth, and/or tax identification number;

o Transaction information: Information about the transactions you make using our Services, 

such as the name of the recipient and the trading amount;

o Employment information: Your job title, office location or income; and 

o Correspondence: Information you provide to our support teams; and

o Other Background Information: We may collect additional background information in 

accordance with our regulatory obligations or anti-money laundering laws.

• Wallet. To access some of the Services, you may need to provide us with information related to 

your digital asset wallet (each, a “Wallet”). Please note that we will not host, custody, or take 

possession of your private key or the contents of the Wallet. 

• Blockchain and Transfer-Related Information. In order to engage in transfers on the Services, 

you will need to provide us with access to or information about your Wallet and transfers on the

Platform. As you use the Services, we may collect personal information and details associated with 

the transfers you are involved with, such as your Wallet’s public address. We may collect your 

payment information if transfer fees or Gas fees are imposed by the associated blockchain.
• Your Communications with Us. We may collect personal information, such as email address, 

phone number, or mailing address when you request information about our Services, register for 

our newsletter or loyalty program, request customer or technical support, apply for a job, or 

otherwise communicate with us.

• Surveys. We may contact you to participate in surveys. If you decide to participate, you may be 

asked to provide certain information which may include personal information.

• Social Media Content. We may offer forums, blogs, or social media pages. If you decide to 

provide content on these channels, you may be asked to provide certain information which may 

include personal information.

• Sweepstakes or Contests. We may collect personal information you provide for any sweepstakes 

or contests that we offer. In some jurisdictions, we are required to publicly share information of 

sweepstakes and contest winners.

• Conferences, Trade Shows, and Other Events. We may collect personal information from 

individuals when we attend conferences, trade shows, and other events. 

• Business Development and Strategic Partnerships. We may collect personal information from 

individuals and third parties to assess and pursue potential business opportunities. 

• Job Applications. We may post job openings and opportunities on our Services. If you reply to 

one of these postings by submitting your application, CV and/or cover letter to us, we will collect 

and use your information to assess your qualifications.

B. Information Collected Automatically 

We may collect personal information automatically when you use our Services:

• Automatic Data Collection. We may collect certain information automatically when you use our 

Services, such as your Internet protocol (IP) address, user settings, MAC address, cookie 

identifiers, mobile carrier, mobile advertising and other unique identifiers, browser or device 

information, location information (including approximate location derived from IP address), and 

Internet service provider. We may also automatically collect information regarding your use of our 

Services, such as pages that you visit before, during and after using our Services, information about 

the links you click, the types of content you interact with, the frequency and duration of your 

activities, and other information about how you use our Services. 

• Cookies, Pixel Tags/Web Beacons, and Other Technologies. We, as well as third parties that 

provide content, advertising, or other functionality on our Services, may use cookies, pixel tags, 

local storage, and other technologies (“Technologies”) to automatically collect information 

through your use of our Services. 

• Cookies. Cookies are small text files placed in device browsers that store preferences and 

facilitate and enhance your experience.

• Pixel Tags/Web Beacons. A pixel tag (also known as a web beacon) is a piece of code 

embedded in our Services that collects information about engagement on our Services. The use 

of a pixel tag allows us to record, for example, that a user has visited a particular web page or 
clicked on a particular advertisement. We may also include web beacons in e-mails to 

understand whether messages have been opened, acted on, or forwarded.

Our uses of these Technologies fall into the following general categories:

• Operationally Necessary. This includes Technologies that allow you access to our Services, 

applications, and tools that are required to identify irregular website behavior, prevent 

fraudulent activity and improve security or that allow you to make use of our functionality;

• Performance-Related. We may use Technologies to assess the performance of our Services, 

including as part of our analytic practices to help us understand how individuals use our 

Services (see Analytics below). For example, we may track your activity on the Services, 

including recordings of your interactions with the Services;

• Functionality-Related. We may use Technologies that allow us to offer you enhanced 

functionality when accessing or using our Services. This may include identifying you when 

you sign into our Services or keeping track of your specified preferences, interests, or past 

items viewed;

• Advertising- or Targeting-Related. We may use first party or third-party Technologies to 

deliver content, including ads relevant to your interests, on our Services or on third-party 

websites.

See “Your Privacy Choices and Rights” below to understand your choices regarding these 

Technologies.

• Analytics. We may use Technologies and other third-party tools to process analytics information 

on our Services. Some of our analytics partners include:

• Google Analytics. For more information, please visit Google Analytics’ Privacy Policy. To 

learn more about how to opt-out of Google Analytics’ use of your information, please click 

here.

• Plaid. We may use Plaid Technologies, Inc. (“Plaid”), as a vendor to collect information about 

you, and you acknowledge and agree that the terms and conditions of Plaid’s privacy policy 

(found here: https://plaid.com/legal/#privacy-policy) will govern Plaid’s use of such 

information, and that you expressly agree to the terms and conditions of Plaid’s privacy policy. 

You hereby expressly grant Plaid the right, power, and authority to access and transmit your 

information as reasonably necessary for Plaid to provide its services to you in connection with 

your use of the Services.

• FullStory. We use FullStory for recording your interactions with our Services which helps us 

deliver a better user experience. For more information on the privacy practices of FullStory, 

please visit https://www.fullstory.com/legal/privacy/. 

• VWO. We may use VWO, offered by Wingify Software Pvt. Ltd. (“Wingify”), to run A/B 

tests on our Services and deliver a better user experience. For more information on the privacy 

practices of Wingify, please visit https://vwo.com/privacy-policy/. 

• Social Media Platforms. Our Services may contain social media buttons such as Discord, Twitter, 

Instagram, Facebook, and LinkedIn (that might include widgets such as the “share this” button or 

other interactive mini programs). These features may collect your IP address, which page you are 
visiting on our Services, and may set a cookie to enable the feature to function properly. Your 

interactions with these platforms are governed by the privacy policy of the company providing it.

C. Information Collected from Other Sources

We may obtain information about you from other sources, including through third-party services and 

organizations. For example, if you access our Services through a third-party application, such as an app 

store, a third-party login service, or a social networking site, we may collect information about you from 

that third-party application that you have made available via your privacy settings. 

3. HOW WE USE YOUR INFORMATION

We use your information for a variety of business purposes, including to provide our Services, for 

administrative purposes, and to market our products and Services, as described below.

A. Provide Our Services

We use your information to fulfill our contract with you and provide you with our Services, such as:

• Managing your information and accounts;

• Providing access to certain areas, functionalities, and features of our Services;

• Answering requests for customer or technical support; 

• Communicating with you about your account, activities on our Services, and policy changes;

• Processing applications if you apply for a job we post on our Services; and

• Allowing you to register for events.

B. Administrative Purposes

We use your information for various administrative purposes, such as:

• Pursuing our legitimate interests such as direct marketing, research and development (including 

marketing research), network and information security, and fraud prevention;

• Detecting security incidents, protecting against malicious, deceptive, fraudulent or illegal activity, 

and prosecuting those responsible for that activity;

• Measuring interest and engagement in our Services;

• Short-term, transient use, such as contextual customization of ads;

• Improving, upgrading or enhancing our Services; 

• Developing new products and Services;

• Ensuring internal quality control and safety;

• Authenticating and verifying individual identities, including requests to exercise your rights under 

this policy;

• Debugging to identify and repair errors with our Services;

• Auditing relating to interactions, transactions and other compliance activities;

• Enforcing our agreements and policies; and

• Complying with our legal obligations.

C. Marketing and Advertising our Products and Services

We may use personal information to tailor and provide you with content and advertisements. We may 

provide you with these materials as permitted by applicable law. 
Some of the ways we market to you include email campaigns, custom audiences advertising.

If you have any questions about our marketing practices, you may contact us at any time as set forth in 

“Contact Us” below. 

D. Other Purposes

We also use your information for other purposes as requested by you or as permitted by applicable law.

• Consent. We may use personal information for other purposes that are clearly disclosed to you at 

the time you provide personal information or with your consent.

• Blockchain Data: We may analyze public blockchain data to ensure parties utilizing our Services 

are not engaged in illegal or prohibited activity under our Terms of Service, and to analyze 

transaction trends for research and development purposes.

• De-identified and Aggregated Information. We may use personal information and other 

information about you to create de-identified and/or aggregated information, such as de-identified 

demographic information, information about the device from which you access our Services, or 

other analyses we create.

• Share Content with Friends or Colleagues. Our Services may offer various tools and 

functionalities. For example, we may allow you to provide information about your friends through 

our referral services. Our referral services may allow you to forward or share certain content with 

a friend or colleague, such as an email inviting your friend to use our Services. Please only share 

with us contact information of people with whom you have a relationship (e.g., relative, friend 

neighbor, or co-worker)

E. Automated profiling

We may use technologies considered automated decision making or profiling. We will not make automated 

decisions about you that would significantly affect you, unless such a decision is necessary as part of a 

contract we have with you, we have your consent, or we are permitted by law to use such technology. You 

may escalate any concerns you have by contacting us below.

4. HOW WE DISCLOSE YOUR INFORMATION

We disclose your information to third parties for a variety of business purposes, including to provide our 

Services, to protect us or others, or in the event of a major business transaction such as a merger, sale, or 

asset transfer, as described below. 

A. Disclosures to Provide our Services

The categories of third parties with whom we may share your information are described below. 

• Collaborations and Influencers. We may share your information with other collaborators, influencers, 

and charities.

• Service Providers. We may share your personal information with our third-party service providers 

who use that information to help us provide our Services. This includes, but is not limited to, service 

providers that provide us with background checks or identity verification, data analysis, and business 
intelligence; marketing support services providers; consumer research service providers; IT and related 

services; banks and trust companies; information and services; payment processors; customer service 

providers; and vendors to support the provision of the Services, such as infrastructure and cloud service 

providers.

• Business Partners. We may provide personal information to business partners with whom we jointly 

offer products or services. In such cases, our business partner’s name will appear along with ours.

• Affiliates. We may share your personal information with members of our corporate family

(“Affiliates”).

• Advertising Partners. We may share your personal information with third-party advertising partners. 

These third-party advertising partners may set Technologies and other tracking tools on our Services to 

collect information regarding your activities and your device (e.g., your IP address, cookie identifiers, 

page(s) visited, location, time of day). These advertising partners may use this information (and similar 

information collected from other services) for purposes of delivering personalized advertisements to 

you when you visit digital properties within their networks. This practice is commonly referred to as 

“interest-based advertising” or “personalized advertising.”

• APIs/SDKs. We may use third-party Application Program Interfaces (“APIs”) and Software 

Development Kits (“SDKs”) as part of the functionality of our Services. For more information about 

our use of APIs and SDKs, please contact us as set forth in “Contact Us” below.

B. Disclosures to Protect Us or Others

We may access, preserve, and disclose any information we store associated with you to external parties if 

we, in good faith, believe doing so is required or appropriate to: comply with law enforcement or national 

security requests and legal process, such as a court order or subpoena; comply with requirements or requests 

of the U.S. Commodity Futures Trading Commission or the U.S. Securities and Exchange Commission; 

comply with regulatory compliance obligations; protect your, our, or others’ rights, property, or safety; 

enforce our policies or contracts; collect amounts owed to us; or assist with an investigation or prosecution 

of suspected or actual illegal activity.

C. Disclosure in the Event of Merger, Sale, or Other Asset Transfers

If we are involved in a merger, acquisition, financing due diligence, reorganization, bankruptcy, 

receivership, purchase or sale of assets, or transition of service to another provider, your information may 

be sold or transferred as part of such a transaction, as permitted by law and/or contract.

5. YOUR PRIVACY CHOICES AND RIGHTS

Your Privacy Choices. The privacy choices you may have about your personal information are determined 

by applicable law and are described below. 

• Email and Telephone Communications. If you receive an unwanted email from us, you can use 

the unsubscribe link found at the bottom of the email to opt out of receiving future emails. Note 

that you will continue to receive transaction-related emails regarding products or Services you have 

requested. We may also send you certain non-promotional communications regarding us and our 

Services, and you will not be able to opt out of those communications (e.g., communications 

regarding our Services or updates to our Terms of Service or this Privacy Policy, or regulatory 

compliance related communications). 
We process requests to be placed on do-not-mail, do-not-phone, and do-not-contact lists as required 

by applicable law.

• “Do Not Track.” Do Not Track (“DNT”) is a privacy preference that users can set in certain web 

browsers. Please note that we do not respond to or honor DNT signals or similar mechanisms 

transmitted by web browsers.

• Cookies and Interest-Based Advertising. You may stop or restrict the placement of Technologies 

on your device or remove them by adjusting your preferences as your browser or device permits. 

However, if you adjust your preferences, our Services may not work properly. Please note that 

cookie-based opt-outs are not effective on mobile applications. However, you may opt-out of 

personalized advertisements on some mobile applications by following the instructions for 

Android, iOS and others.

The online advertising industry also provides websites from which you may opt out of receiving 

targeted ads from data partners and other advertising partners that participate in self-regulatory 

programs. You can access these and learn more about targeted advertising and consumer choice 

and privacy by visiting the Network Advertising Initiative, the Digital Advertising Alliance, the 

European Digital Advertising Alliance, and the Digital Advertising Alliance of Canada. 

Please note you must separately opt out in each browser and on each device. 

Your Privacy Rights. In accordance with applicable law, you may have the right to:

• Access Personal Information about you, including: (i) confirming whether we are processing your 

personal information; (ii) obtaining access to or a copy of your personal information in a structured, 

commonly used, and machine readable format; and (iii) receiving an electronic copy of personal 

information that you have provided to us, or asking us to send that information to another company

in a structured, commonly used, and machine readable format (the “right of data portability”);

• Request Correction of your personal information where it is inaccurate or incomplete. In some 

cases, we may provide self-service tools that enable you to update your personal information;

• Request Deletion of your personal information; 

• Request Restriction of or Object to our processing of your personal information; and 

• Withdraw your Consent to our processing of your personal information.

If you would like to exercise any of these rights, please contact us as set forth in “Contact Us” below. We 

will process such requests in accordance with applicable laws. To protect your privacy, we will take steps 

to verify your identity before fulfilling your request. Depending on the context of your request, such as 

deletion, we may not be able to provide you with access to some or all of our Services, since we process 

your information in order to provide you with such access.

6. SECURITY OF YOUR INFORMATION

We take steps to ensure that your information is treated securely and in accordance with this Privacy Policy.

All information you provide to us is stored on secure servers belonging to us or industry-leading third-party 

vendors. We have implemented procedures to safeguard customer Personal Information. We restrict access 

to Personal Information to those employees who need to know that information in order to provide our 
products or services to you. We maintain physical, electronic and procedural safeguards to safeguard 

Personal Information. We protect customer account information by keeping it on the secure portion of our 

website, using firewalls and other security technology to protect our network and systems from external 

attacks, and by requiring customers to enter a unique user ID and password to access our systems. We 

conduct periodic internal audits of our business practices and procedures, examining our confidentiality 

standards and information access, in order to best protect our customers’ Personal Information.

Unfortunately, no system is 100% secure, and we cannot ensure or warrant the security of any information 

you provide to us. We have taken appropriate safeguards to require that your personal information will 

remain protected and require our third-party service providers and partners to have appropriate safeguards 

as well. To the fullest extent permitted by applicable law, we do not accept liability for unauthorized 

disclosure.

By using our Services or providing personal information to us, you agree that we may communicate with 

you electronically regarding security, privacy, and administrative issues relating to your use of our Services. 

If we learn of a security system’s breach, we may attempt to notify you electronically by posting a notice 

on our Services, by mail or by sending an email to you.

7. INTERNATIONAL DATA TRANSFERS 

All information processed by us may be transferred, processed, and stored anywhere in the world, including, 

but not limited to, the United States or other countries, which may have data protection laws that are 

different from the laws where you live. We endeavor to safeguard your information consistent with the 

requirements of applicable laws.

If we transfer personal information to countries outside the European Economic Area, we will put in place 

appropriate safeguards to ensure that this transfer complies with the applicable laws and regulations. For 

more information about these safeguards, please contact us as set forth below.

8. RETENTION OF PERSONAL INFORMATION 

We store the personal information we collect as described in this Privacy Policy for as long as you use our 

Services or as necessary to fulfill the purpose(s) for which it was collected, provide our Services, resolve 

disputes, establish legal defenses, conduct audits, pursue legitimate business purposes, enforce our 

agreements, and comply with applicable laws and our regulatory compliance obligations as determined by 

us or our regulators in our or their sole discretion.

We may also retain aggregate information beyond this time for research purposes and to help us develop 

and improve our services. You cannot be identified from aggregate information retained or used for these 

purposes. 

9. SUPPLEMENTAL NOTICE FOR CALIFORNIA RESIDENTS

This Supplemental California Privacy Notice only applies to our processing of personal information that 

is subject to the California Consumer Privacy Act of 2018 (“CCPA”). The CCPA provides California 

residents with the right to know what categories of personal information FTX US Derivatives has 

collected about them and whether FTX US Derivatives disclosed that personal information for a business 

purpose (e.g., to a service provider) in the preceding 12 months. California residents can find this 

information below:
Category of Personal Information Collected by 

FTX US Derivatives

Category of Third Parties 

Information is Disclosed to for 

a Business Purpose

Identifiers. 

A real name, alias, postal address, unique personal identifier, online 

identifier, Internet Protocol address, email address, account name, user 

name, Social Security number, or other similar identifiers. 

• Internet service providers

• Data analytics providers

• Government entities

• Operating systems and platforms

• Blockchain networks

• Social networks

• Service providers

• Other users

• Affiliates

Personal information categories listed in the California Customer 

Records statute (Cal. Civ. Code § 1798.80(e))

A name, signature, Social Security number, physical characteristics or 

description, address, telephone number, passport number, driver's license or 

state identification card number, insurance policy number, education, 

employment, employment history, bank account number, credit card 

number, debit card number, or any other financial information. Personal 

Information does not include publicly available information that is lawfully 

made available to the general public from federal, state, or local government 

records. Note: Some personal information included in this category may 

overlap with other categories.

• Government entities

• Service providers

• Affiliates

Commercial information

Transactions, transaction history, products or services purchased, obtained, 

or considered, or other purchasing or consuming histories or tendencies.

• Service providers

• Blockchain networks

• Other users

• Affiliates

Internet or other electronic network activity

Browsing history, search history, information on a consumer's interaction 

with an internet website, application, or advertisement.

• Advertising partners

• Data analytics providers

• Service providers

• Affiliates

The categories of sources from which we collect personal information and our business and commercial 

purposes for using personal information are set forth in “Personal Information We Collect” and “How We 

Use Your Personal Information” above, respectively. 

Disclosures of Personal Information under the CCPA

FTX US Derivatives does not sell personal information. However, if you elect to do so, we may disclose 

your information to our partners. To the extent that such disclosure is, for legal purposes, deemed to be a 

“sale” under the CCPA, you may opt-out of having your information disclosed by not opting in 

to disclose your information, disabling third-party cookies on your device, or by contacting us as set forth 

in “Contact Us” below. 
Opt-out. California residents may opt-out of the disclosure of their personal information to our partners by

contacting us as set forth in “Contact Us” below.

Additional Privacy Rights for California Residents

Non-Discrimination. California residents have the right not to receive discriminatory treatment by us for 

the exercise of their rights conferred by the CCPA.

Authorized Agent. Only you, or someone legally authorized to act on your behalf, may make a verifiable 

consumer request related to your personal information. You may also make a verifiable consumer request 

on behalf of your minor child. To designate an authorized agent, please contact us as set forth in “Contact 

Us” below and provide written authorization signed by you and your designated agent.

Verification. To protect your privacy, we will take steps the following steps to verify your identity before 

fulfilling your request. When you make a request, we will ask you to provide sufficient information that 

allows us to reasonably verify you are the person about whom we collected personal information or an 

authorized representative, which may include asking you to answer questions regarding your account and 

use of our Services.

If you are a California resident and would like to exercise any of your rights under the CCPA, please contact 

us as set forth in “Contact Us” below. We will process such requests in accordance with applicable laws. 

Accessibility. This Privacy Policy uses industry-standard technologies and was developed in line with the 

World Wide Web Consortium’s Web Content Accessibility Guidelines, version 2.1. If you wish to print 

this policy, please do so from your web browser or by saving the page as a PDF.

10. SUPPLEMENTAL NOTICE FOR NEVADA RESIDENTS

If you are a resident of Nevada, you have the right to opt-out of the sale of certain Personal Information to 

third parties who intend to license or sell that Personal Information. You can exercise this right by 

contacting us at privacy.derivs@ftx.us with the subject line “Nevada Do Not Sell Request” and providing 

us with your name and the email address associated with your account. Please note that we do not 

currently sell your Personal Information as sales are defined in Nevada Revised Statutes Chapter 603A. If 

you have any questions, please contact us as set forth below.

11. SUPPLEMENTAL NOTICE FOR EU RESIDENTS

The data that we process in relation to you may be transferred to, and stored at, a destination outside the 

European Economic Area (“EEA”) that may not be subject to equivalent data protection law. It may also 

be processed by staff situated outside the EEA who work for us or for one of our suppliers.

We may transfer your personal information outside the EEA:

• In order to store it; 

• In order to enable us to provide goods or services to and fulfill our contract with you or the 

company you work for. This includes order fulfillment, processing of payment details, and 

the provision of support services; 

• Where we are legally required to do so; or

• In order to facilitate the operation of our group of businesses, where it is in our legitimate 

interests; and we have concluded these are not overridden by your rights.
Where your information is transferred outside the EEA, we will take all steps reasonably necessary to 

ensure that your data is subject to appropriate safeguards, such as relying on a recognized legal adequacy 

mechanism, and that it is treated securely and in accordance with this Privacy Policy.

We may transfer your personal information to: 

• Any member of our group, which means our subsidiaries, our ultimate holding company and 

its subsidiaries; or

• Our vendors;

and for these transfers we use European Commission approved contractual clauses for transfers (referred 

to as “Model Clauses”).

Your Data Subject Rights

You have the right under certain circumstances:

• to receive information about the processing of Personal Information concerning you. You are 

entitled

• to access your Personal Information

• to request the rectification or erasure of your Personal Information held by us

• to object to the further processing of your Personal Information, including the right to object 

to marketing

• to request that your provided Personal Information be moved to a third party.

Depending on the context of your request, such as erasure, we may not be able to provide you with access 

to some or all of the Services, since we process your information in order to provide you with such 

access.

Your right to withdraw consent:

Where the processing of your Personal Information by us is based on consent, you have the right to 

withdraw that consent at any time by contacting us as described in “Contact Us” below.

How to exercise your rights

You can also exercise the rights listed above at any time by contacting us at privacy.derivs@ftx.us

If your request or concern is not satisfactorily resolved by us, you may approach your local data 

protection authority (to your habitual residence, your place of work, or where the alleged infringement 

took place).

12. CHILDREN’S INFORMATION

The Services are not directed to children under 13 (or other age as required by local law), and we do not 

knowingly collect personal information from children.
If you are a parent or guardian and believe your child has uploaded personal information to our site without 

your consent, you may contact us as described in “Contact Us” below. If we become aware that a child has 

provided us with personal information in violation of applicable law, we will delete any personal 

information we have collected, unless we have a legal obligation to keep it, and terminate the child’s 

account if applicable.

13. OTHER PROVISIONS

Third-Party Websites/Applications. The Services may contain links to other websites/applications and 

other websites/applications may reference or link to our Services. These third-party services are not 

controlled by us. We encourage our users to read the privacy policies of each website and application with 

which they interact. We do not endorse, screen or approve, and are not responsible for, the privacy practices 

or content of such other websites or applications. Providing personal information to third-party websites or 

applications is at your own risk. 

Supervisory Authority. If you are located in the European Economic Area, Switzerland, the United 

Kingdom or Brazil, you have the right to approach your local data protection authority if you have concerns 

about our processing of your personal information and such concerns are not satisfactorily resolved by us.

Notification of Policy, and Changes to our Privacy Policy. We provide an initial notice of this Privacy 

Policy to customers at the time we establish a customer relationship, and at least annually thereafter, and 

the Privacy Policy is dated and posted on its website. We may revise this Privacy Policy from time to time 

in our sole discretion. If there are any material changes to this Privacy Policy, we will notify you as required 

by applicable law. You understand and agree that you will be deemed to have accepted the updated Privacy 

Policy if you continue to use our Services after the new Privacy Policy takes effect. Updates will be posted 

on the website, so our customers will always know what information we collect, how we use it, and what 

choices they have.

14. CONTACT US

If you have any questions about our privacy practices or this Privacy Policy, or to exercise your rights as 

detailed in this Privacy Policy, please contact us at:

LedgerX LLC d/b/a FTX US Derivatives

Address: 1110 Brickell Ave, Suite 430k-200

Miami, FL 33131

Attn: Legal

Email: privacy.derivs@ftx.us