General Terms and Conditions 

Bitpanda Pro Exchange 

Version 2, published on 15 March 2022

1. General Provisions

1.1. The general terms and conditions of Bitpanda Pro Exchange herein ("Bitpanda Pro TC") shall be applicable to all business relations between Bitpanda Pro Germany GmbH, with its corporate seat in Berlin, operating exclusively through its Vienna Branch, with the address Stella-Klein-Löw-Weg 17, 1020 Vienna, Austria ("Bitpanda Pro Vienna") and persons who have become a client of Bitpanda Pro Vienna in accordance with point 3.4 ("you" or "Bitpanda Pro Client"). We require your consent to these Bitpanda Pro TC before or in the course of your creation of your Bitpanda Pro Account.

1.2. The Bitpanda Pro TC apply to transactions and business relationships with Bitpanda Pro Vienna, in particular to the use of any online or electronic platform (e.g. https://pro.bitpanda.com/en) or mobile application and associated APIs of such platform or application (each a "Bitpanda System").

1.3. Bitpanda Pro Vienna offers services in cooperation with Bitpanda Providers, by providing and maintaining a technical interface that facilitates purchase and sale transactions for a selection of E-Token and F-Token trading pairs between Bitpanda Pro Clients and such third parties. Bitpanda Pro Vienna solely provides the technical interface in this respect. All further services are provided by Bitpanda Pro Vienna’s Affiliates ("Bitpanda Provider"). The applicable Bitpanda Provider for each Bitpanda Pro Client may vary depending on certain circumstances. Please refer to Annex II which sets out the applicable Bitpanda Provider which provides the services to you (“Applicable Bitpanda Provider"). You accept that the services are provided directly by such Applicable Bitpanda Provider as set out in these Bitpanda Pro TC. 

1.4. The provisions of the general terms and conditions of Bitpanda ("Bitpanda GTC") and the Annexes and Definitions of the Bitpanda GTC (both available under https://www.bitpanda.com/en/legal/bitpanda-group-general-terms-conditions) are hereby agreed upon unless explicitly set out in these Bitpanda Pro TC otherwise. Further, these Bitpanda Pro TC will refer to certain provisions of the general terms and conditions of Bitpanda GmbH ("Bitpanda GmbH TC", also available under https://www.bitpanda.com/en/legal/bitpanda-group-general-terms-conditions), which will apply bilaterally between you and the Applicable Bitpanda Provider as set out in detail below. The provisions of the Bitpanda GTC, the Annexes and Definitions of the Bitpanda GTC, and the Bitpanda GmbH TC may change in the future from time to time, according to the provisions of these documents.

1.5. Any express agreement concluded with you will prevail over these Bitpanda Pro TC or any document referred to herein.

1.6. Unless otherwise defined herein, the definitions in the Bitpanda GTC shall apply to these Bitpanda Pro TC. For an overview of the additional definitions used in these Bitpanda Pro TC please refer to Annex I.

1.7. For the avoidance of doubt, under these Bitpanda Pro TC you do not receive any access to Bitpanda Broker (as defined and described in the Bitpanda GmbH TC), but only to Bitpanda Pro.

2. Amendments to the Bitpanda Pro TC

2.1. Changes to and amendments of the Bitpanda Pro TC, including this point, may be made by Bitpanda Pro Vienna at any time and become effective 

2.1.1. if no specific effective date is indicated by Bitpanda Pro Vienna: at the earlier of (i) the Bitpanda Pro Client explicitly accepting the amended Bitpanda Pro TC (for example on Bitpanda Systems) or (ii) one month having passed after publishing such changes or amendments (e.g. by sending a copy to the Bitpanda Pro Client or publishing on Bitpanda's websites), subject to the Bitpanda Pro Client not objecting under point 2.2; respectively

2.1.2. if a specific effective date (after the publish date) is indicated by Bitpanda Pro Vienna: at the later of (i) the specified effective date and the (ii) earlier of (a) the Bitpanda Pro Client explicitly accepting the amended Bitpanda Pro TC (for example on Bitpanda Systems) or (b) one month having passed after publishing such changes or amendments (e.g. by sending a copy to the Bitpanda Pro Client or publishing on Bitpanda's websites), subject to the Bitpanda Pro Client not objecting under point 2.2.

2.2. The Bitpanda Pro Client's consent shall be deemed granted if Bitpanda Pro Vienna does not receive an objection from the Bitpanda Pro Client in writing or electronically (e.g. by e-mail or via the Client Account). In the amendment offer, Bitpanda Pro Vienna shall bring to the Bitpanda Pro Client's attention that (i) its silence by failing to object in writing or electronically (e.g. by e-mail or via the Client Account) within the deadline set out in points 2.1.1 and 2.1.2 shall be deemed as consent to the amendments, as well as that (ii) the Bitpanda Pro Consumer Client shall have the right to terminate its contract and the services agreed under the contract without notice until the amendments take effect.

2.3. An increase in the Bitpanda Pro Client's fees or a limitation of Bitpanda Pro Vienna's services in the Bitpanda Pro TC can only be effected with the express consent of the Bitpanda Pro Consumer Client. Further, vis-à-vis Bitpanda Pro Consumer Clients and unless express consent is obtained, changes to the Bitpanda Pro TC shall in any case be minor and reasonable for the Bitpanda Pro Consumer Client, shall not affect any main service obligations and shall only affect changes that are necessary and objectively justified in order to offer our services in the best possible way and to protect our customers’ interests.

3. Bitpanda Pro

3.1. Bitpanda Pro Vienna provides access to an electronic system separate from Bitpanda Broker (as defined and described in the Bitpanda GmbH TC) which allows for the operation of an order book exchange platform on Bitpanda Systems for a selection of E-Token and F-Token trading pairs under the trade name Bitpanda Pro ("Bitpanda Pro"). Bitpanda Pro works as a technical interface enabling eligible Bitpanda Clients to obtain prices for E-Token via https://pro.bitpanda.com and/or its associated APIs. You can access the available order books in your Bitpanda Pro Account.

3.2. Bitpanda Pro Vienna does not transact in E-Tokens and does not provide financial services for the issuance and sale of E-Tokens, but merely facilitates such transactions with third parties, in particular the Applicable Bitpanda Provider, within its technical interface. 

3.3. Any person using or trading via Bitpanda Pro does so entirely at its own risk.

3.4. In order to become a Bitpanda Pro Client and to use Bitpanda Pro, you have to

3.4.1. complete the Client Verification Process conducted by the Applicable Bitpanda Provider. For this purpose, the provisions of the Bitpanda GTC, particularly their point 4, shall apply mutatis mutandis, subject to the verification being conducted directly by the Applicable Bitpanda Provider. If your Applicable Bitpanda Provider is Bitpanda GmbH, you will also need to become a Bitpanda Client before being able to open your Bitpanda Pro Account; and

3.4.2. create a user account for Bitpanda Pro ("Bitpanda Pro Account") on Bitpanda Systems. 

3.5. Bitpanda Pro Vienna confirms that the prohibition of double or shared accounts set out under point 5.1 of the Bitpanda GTC has been waived by Bitpanda in respect of one (1) additional account being the Bitpanda Pro Account created in accordance with point 3.4.2.

3.6. You can only use your funds in your Bitpanda Pro Account to trade via Bitpanda Pro. You fund your Bitpanda Pro Account (i) via your existing supported E-Token from an external wallet or (ii) by purchasing F-Token from the Applicable Bitpanda Provider which are then designated to your Bitpanda Pro Account. In case your Applicable Bitpanda Provider is Bitpanda GmbH, you may also (iii) designate the desired amount of your existing E-Token and/or F-Token via your Bitpanda Client Account (please refer to point 5 and 6 of the Bitpanda GmbH TC) to your Bitpanda Pro Account; in order to withdraw funds, you have to re-designate such Token to your Bitpanda Client Account first. You are aware and accept that you cannot transfer or designate any Token on your Bitpanda Pro Account that are held in "Open Orders" (as defined in Annex I).

3.7. All “Orders” (as defined in Annex I) entered via Bitpanda Pro are placed with the Applicable Bitpanda Provider without any further involvement on the part of Bitpanda Pro Vienna and are executed solely in accordance with points 5 and 6. You acknowledge and accept that Bitpanda Pro is a service offering different from Bitpanda Broker (as defined and described in the Bitpanda GmbH TC) and that the points 3.4 to 3.12 of the Bitpanda GmbH TC shall not apply to these Bitpanda Pro TC. 

3.8. Bitpanda Pro Vienna does not charge Bitpanda Pro Clients usage fees for accessing Bitpanda Pro or having a Bitpanda Pro Account. The Applicable Bitpanda Provider charges you for executed Orders as set out in point 9. Please note that the Applicable Bitpanda Provider may, under certain circumstances, charge additional fees (e.g. in the event of an extraordinary termination, deposit or withdrawal fees) as set out in the Bitpanda GTC and Bitpanda GmbH TC, which apply mutatis mutandis, subject to the Applicable Bitpanda Provider being the charger of such fees, rather than Bitpanda GmbH.

4. Bitpanda’s Token System

4.1. The Applicable Bitpanda Provider offers in its own name the following assets on Bitpanda Pro:

4.1.1. proprietary tokens in the form of vouchers (Gutschein) that can be used to obtain products and services on Bitpanda Pro, issued by the Applicable Bitpanda Provider and denominated in various currencies ("F-Token”) for sale against payment with a currency that is a legal tender (gesetzlich anerkanntes Zahlungsmittel);

4.1.2. selected cryptographic digital assets, such as, but not limited to, Bitcoin, Dash, Ripple, Bitcoin Cash, Ether and Litecoin ("E-Token"), to the extent available under the offered trading pairs.

4.2. In the future, Bitpanda Payments GmbH, an Affiliate of Bitpanda Pro Vienna, may offer proprietary tokens in a different form to select Bitpanda Pro Clients as set out separately by such Affiliate in its Payments TC. We will ensure that you will be able to use such tokens the same way as F-Token under these Bitpanda Pro TC. In order to obtain and use such tokens, you will have to agree to any such Payments TC. In this case, Bitpanda Payments GmbH will be considered as the Applicable Bitpanda Provider in relation to such tokens.

4.3. Point 12 of the Bitpanda GTC shall apply mutatis mutandis to these Bitpanda Pro TC, subject to any deviations set out herein, in particular the F-Token in this case being issued and maintained by the Applicable Bitpanda Provider in wallets held by the Applicable Bitpanda Provider. 

4.4. A-Token or M-Token are currently not available on Bitpanda Pro.

5. Orders – general provisions

5.1. You can instruct to buy or sell a specified quantity of Base Token (as defined and described in Annex I) at a specified price in the Quote Token (as defined and described in Annex I) in the form of an Order provided that you have the required positive balance of the relevant Token on your Bitpanda Pro Account which covers the total value of the Order and any applicable fees (see point 9 on trading fees below). By placing an Order, the respective specified quantity of Token you offer as part of such Order is set aside by the Applicable Bitpanda Provider and you may not dispose of these Token until the Order is either fulfilled or cancelled as set out in the Bitpanda Pro TC. 

5.2. The following types of Orders are available on Bitpanda Pro: Limit Order, Market Order and Stop Order, each as defined and described in more detail in the following and Annex I. You can cancel an Open Order at any time before it is fulfilled, and no fees will be charged for cancelled Orders. For the avoidance of doubt, Orders may also be partly fulfilled before being cancelled, in which case fees will be charged based on the extent to which the Order was fulfilled.

5.3. Limit Orders

5.3.1. A Limit Order will be immediately placed in the Order Book and may result in a Maker Order or a Taker Order, or an Order that is partially a Maker Order and partially a Taker Order. The placed Order will remain on the Order Book until you cancel it.

5.4. Market Orders

5.4.1. By its very nature and due to the fact that Bitpanda Pro permits trading on an open market, a Market Order is an instruction to buy or sell a specific quantity of goods without specifying a price or price range and a Market Order will be matched with other Orders in the Order Book irrespective of the price. Bitpanda thus cannot and does not guarantee that a Market Order will be fulfilled at a specified price, which is neither influenced nor otherwise regulated by Bitpanda Pro Vienna. You agree and accept that a Market Order may result in the execution of a Trade at different prices, based on the quantity of the Market Order and the quantities of the existing Orders on the Order Book at the time. In particular, you are aware and accept that a Market Order may result in the execution of a Trade at a price less favourable than the most recent trade price, in some cases significantly less. You acknowledge the risks of Market Orders outlined above and accept that Bitpanda takes no responsibility whatsoever if a Trade pursuant to a Market Order is executed at a less favourable price than the recent trade price or trade price on comparable platforms to Bitpanda Pro.

5.4.2. A Market Order is always a Taker Order. 

5.5. Stop Orders

5.5.1. A Stop Order must be placed as a stop limit order which automatically posts a Limit Order when the Stop Price (as defined in Annex I) is triggered. Such a Stop Order is not placed in the Order Book and is not visible to others but any resulting Order (i.e. the Limit Order when the Stop Price is triggered) is posted and visible. 

5.5.2. You are aware and acknowledge that the fulfilment of a Stop Order at the Stop Price set out in the Stop Order cannot be guaranteed. The Limit Order placed as a result of the Stop Price being triggered will remain on the Order Book until you cancel it or until it is completely fulfilled. You acknowledge and agree that it is not possible to configure a Stop Order to post a Market Order (instead of a Limit Order) and the Stop Order may thus not be suitable as a stop-loss.

5.6. Minimum Order sizes

5.6.1. For Orders entered via Bitpanda Pro minimum Order sizes apply. The Applicable Bitpanda Provider will periodically and reasonably update Order minimums to reflect the current state of marketplaces and value of assets. You are aware and accept that such order minimums may change from time to time and are not guaranteed.

5.6.2. You find current minimum Order sizes on https://pro.bitpanda.com/.

5.7. No direct trading of currencies that are a legal tender or financial instruments

5.7.1. You acknowledge and accept that only the trading pairs set out in the relevant Order Books can be traded with Bitpanda Pro and no direct exchange in, from or between currencies that are a legal tender and/or financial instruments is possible. 

6. Orders – fulfilment

6.1. Matching of your Orders and Order priorities

6.1.1. Bitpanda Pro matches Taker Orders with open Maker Orders on each Order Book based on price-time priority. This means that each time a Taker Order is placed this Order is matched with the earliest (oldest) Maker Order at the best price on the Order Book. If the Taker Order cannot be completely fulfilled, it may be matched with any subsequent Maker Orders at that price, in the sequence those Maker Orders were posted (oldest to newest). If such a Taker Order can still not be completely executed as described previously, it is matched with one or more Maker Orders at the next best price, in the sequence those Maker Orders were posted (oldest to newest). This process is repeated until the Taker Order is completely matched. 

6.2. Fulfilment of Orders, execution of Trades

6.2.1. An Order is fulfilled by executing the corresponding Trade. The execution of a Trade is irrevocably initiated if and as soon as a Maker Order fully or partly matches with a Taker Order or more Orders as set out above.

6.2.2. The Applicable Bitpanda Provider will act as counterparty to all Trades. The Trade will be executed by the Applicable Bitpanda Provider immediately after the identification of matching Maker Orders and Taker Orders and settled in form of the respective debits and credits to the involved Bitpanda Pro Accounts. Cash settlement of any Trade is explicitly excluded. Whenever any E-Token are exchanged as a result of executing an Order, the Applicable Bitpanda Provider will forthwith hold these E-Token for the respective acquirer under Bitpanda Pro Custodial Services.

6.2.3. As the Applicable Bitpanda Provider acts as counterparty to all Trades, Bitpanda Pro Clients are not contracting with each other but solely with Bitpanda Pro Vienna (regarding the provision of the technical interface) and the Applicable Bitpanda Provider (regarding the purchase and/or sale of assets). Neither Bitpanda Pro Vienna nor the Applicable Bitpanda Provider will inform you of any details of another Bitpanda Pro Client that is a party to any Trade.

6.2.4. For the purposes of fulfilling your Order, you authorize and instruct the Applicable Bitpanda Provider to execute the corresponding Trade as described in this point 6 and to act as counterparty to such Trades. For these purposes, you herewith release Bitpanda from any restrictions (under § 1009 of the Austrian Civil Code or otherwise) against self-dealing and double representation in connection with its role as counterparty, as market participant (for example as set out in point 14.3) and the other services offered by it on Bitpanda Systems.

6.2.5. Bitpanda Pro Vienna is not involved in the execution of Trades and neither holds nor transfers any of the assets set out in the Order. 

6.3. Interpretation

6.3.1. For the purposes of this point 6, “best price” refers to the most favourable available exchange rate for the relevant pair of Token from your perspective. 

7. Bitpanda Wallet and Custodial Services

7.1. Custodial Services: Bitpanda Pro Clients can exchange, sell and purchase E-Token without needing to set-up their own wallet on each blockchain. In order to facilitate this, the Applicable Bitpanda Provider offers custodial services for E-Token and displays the E-Token held in custody for Bitpanda Pro Clients on your behalf on a custodial (Treuhand) basis with the Applicable Bitpanda Provider as trustee (Treuhänder) and the Bitpanda Pro Client as trustor (Treugeber) ("Bitpanda Pro Custodial Services"). Point 5 of the Bitpanda GmbH TC shall apply mutatis mutandis to the Bitpanda Pro Custodial Services, subject to the Applicable Bitpanda Provider being the service provider.

7.2. Notwithstanding any other termination right, each of you, Bitpanda Pro Vienna and the Applicable Bitpanda Provider may at any time terminate the fiduciary agreement (without observing any notice period) if any E-Token that forms part of the fiduciary property is at any time classified as financial instrument or similar regulated asset under the laws of the country of the Applicable Bitpanda Provider. 

8. Transfers

8.1. To any transfers of assets from your Wallet, point 6 of the Bitpanda GmbH TC shall apply mutatis mutandis, subject to the Applicable Bitpanda Provider being the service provider, and subject to such transfers being from/to Bitpanda Pro Clients, rather than Bitpanda Clients.

9. Fees

9.1. For the provision of the services, the Applicable Bitpanda Provider charges a fee per Order that is executed following matching via Bitpanda Pro. The Applicable Bitpanda Provider will charge a maker fee for each executed Maker Order and a taker fee for each executed Taker Order. Fees will be charged in the Token you receive as a result of executing the corresponding Trade and are calculated as a percentage of the Order quantity. For example: on the BTC-EUR Order Book, you, as a buyer of BTC, pay fees in BTC and the seller of BTC pays fees in EUR-F-Token. If an Order qualifies partially as a Maker Order and partially as a Taker Order, a maker fee applies to the part posted as a Maker Order and a taker fee applies to the part posted as a Taker Order. Fees are charged on a per trade basis and will become due and payable upon the execution of the corresponding Trade with the Applicable Bitpanda Provider. You acknowledge and accept that all such fees may be directly and automatically deducted by the Applicable Bitpanda Provider upon execution of a Trade from the amount of token you would receive as a result of the execution of the Trade.

9.2. You are aware and accept that all fees referred to in this point 9 may vary from time to time and between Order Books. Any such updated fees will apply prospectively to any Orders or other transactions that take place following the execution date of such updated fees. If a fee increase takes place after placement but before execution of a Trade, until the time of execution of the Trade, Bitpanda Pro Clients are entitled to withdraw the execution of this Trade. The current fees for trading via Bitpanda Pro are displayed at https://pro.bitpanda.com/en/exchange-trading-fees.

9.3. The current fee discounts, if any, can be found at https://pro.bitpanda.com/en/exchange-trading-fees. You are aware and accept that fee discounts may change or be abandoned anytime for the future at the Applicable Bitpanda Provider’s sole discretion.

9.4. The Applicable Bitpanda Provider may at its discretion offer a modified fee structure compared to the usually applicable Bitpanda Pro fees as outlined in points 9.1 to 9.3 of these Bitpanda Pro TC to certain eligible entities or persons ("Modified Fees"). Modified Fees only apply on Bitpanda Pro and have to be individually agreed in writing with such eligible entities or persons and the Applicable Bitpanda Provider. Other services (e.g. Bitpanda Broker) are outside of the scope of Modified Fees; any person or entity eligible for Modified Fees acknowledges and accepts that for the period during which Modified Fees are applied, said eligible person or entity will not be able to use the Bitpanda Ecosystem Token (BEST) to reduce trading fees. Furthermore, you acknowledge and accept that if one or more fee reductions or discounts would taken together result in taker fees of less than 0.05%, a fee of 0.05% applies unless expressly agreed by us or the Applicable Bitpanda Provider otherwise.

9.5. All fees referred to in this point 9 are independent of and in addition to any other fees that are set out in the Bitpanda GTC or relevant Affiliate TC.

10. Security over Bitpanda Pro Client assets and set-off, Security ownership 

10.1. The rights granted to Bitpanda GmbH or another Bitpanda entity under point 18 of the Bitpanda GTC shall apply mutatis mutandis to the Applicable Bitpanda Provider.

11. Market integrity

11.1. Executed Trades. All executed Trades and fulfilled Orders are final and will not be cancelled except where (i) the Applicable Bitpanda Provider is obliged to do so pursuant to applicable law or regulations or (ii) due to a material technical error (e.g. Orders or Trades do not comply with the provisions of these Bitpanda Pro TC). In case of a technical error, Bitpanda Pro Vienna or the Applicable Bitpanda Provider will make all reasonable efforts and act in good faith in accordance with industry standards in order to restore the positions which would have existed without the occurrence of an error. 

11.2. Open Orders. The Applicable Bitpanda Provider has the right to cancel Open Orders in the following circumstances:

11.2.1. Orders placed by Bitpanda Pro Clients who (i) are in breach of these Bitpanda Pro TC, the Bitpanda GTC or the Bitpanda GmbH TC (which apply mutatis mutandis, subject to the Applicable Bitpanda Provider being the service provider, rather than Bitpanda GmbH), in particular but not limited to the rules set out in point 4 of the Bitpanda GTC (Becoming a Bitpanda Client, Trading Limits) which apply to Bitpanda Pro Accounts likewise and/or (ii) are using the Bitpanda Pro API in a manner that unreasonably burdens the platform. 

11.2.2. Orders involving an obvious error with respect to price, quantity, or other parameters.

11.2.3. If required for technical reasons or by any applicable law or regulation.

11.3. Bitpanda Pro Vienna or the Applicable Bitpanda Provider may, at any time and at its sole reasonable discretion take any action to restrict the functioning of Bitpanda Pro (e.g. halting the matching of Orders, restricting access, modifying parameters in order to mitigate risks, cancelling Orders resting in the Order Book) it deems appropriate or necessary to ensure and preserve the market integrity, prevent suspected market manipulation or to maintain the proper operation of Bitpanda Systems of Bitpanda Pro (e.g. in relation to technical errors under point 12 or prohibitions under point 13). 

12. Interruptions

12.1. In the event of technical errors which in the reasonable opinion of Bitpanda Pro Vienna or the Applicable Bitpanda Provider are likely to prevent or negatively impact a Bitpanda Pro Client’s ability to properly use Bitpanda Pro (e.g. placing/cancelling of Orders, access to Bitpanda Systems and Bitpanda Pro API) it is at each of Bitpanda Pro Vienna's and the Applicable Bitpanda Provider’s sole discretion to take adequate measures in respect of one or more Order Books. This particularly includes the following measures:

12.1.1. The Applicable Bitpanda Provider to temporarily disable the option to deposit or withdraw Token to or from the Bitpanda Pro Account via the interface; 

12.1.2. The Applicable Bitpanda Provider to not execute matched orders or cancel Open Orders;

12.1.3. Bitpanda Pro Vienna to disable the option to place new Orders via the interface (you can only cancel existing ones), to sign-in, to access Bitpanda Pro and/or to access via Bitpanda Pro API.

12.2. In the event of technical errors or other material events affecting the availability or functionality of Bitpanda Pro, Bitpanda Pro Vienna and the Applicable Bitpanda Provider will use reasonable efforts to remedy such issue but neither guarantee nor undertake to remedy any issue within a certain period of time. 

13. Prohibitions

13.1. Bitpanda Pro Clients using Bitpanda Pro are not allowed to place Orders which result in self-execution (i.e. the same Bitpanda Pro Client would act as both the maker and taker for the trade). If two Orders would result in self-execution, the later in time Order is rejected.

13.2. Further, you are prohibited from engaging in any market making or market manipulation (specifically includes, without limitation: front-running, wash trading, spoofing, layering, churning, and quote stuffing). Market manipulation of any kind (including action on Bitpanda Systems or outside of Bitpanda Systems) is strictly prohibited. Market manipulation is any action taken by any market participant or a person acting in concert with a participant which intends to:

13.2.1. scam or mislead other traders;

13.2.2. control or manipulate the price or trading volume of a Token; or

13.2.3. assist, encourage, facilitate, finance, endorse or support either of the above. 

13.3. Bitpanda Pro does not use circuit breakers or automated trading halts based on predetermined price bands. However, in accordance with points 11 and 12 of this Bitpanda Pro TC, each of Bitpanda Pro Vienna or the Applicable Bitpanda Provider may, at our sole discretion, at any time take actions that we deem appropriate to attain market integrity in line with point 11.3 above.

14. Transparency and Information

14.1. Bitpanda Pro Vienna and each Applicable Bitpanda Provider grant to each Bitpanda Pro Client equal access right to Bitpanda Pro including Bitpanda Pro API. In addition, all Bitpanda Pro Clients receive full and real-time access to the available market information shown on Bitpanda Systems. Market information contains the following:

14.1.1. Limit Orders placed on the Order Books (price and quantity); and

14.1.2. information on the execution of all Trades (price, quantity and time).

14.2. Bitpanda Systems do not show Stop Orders which have been placed but not yet triggered and any information about which user placed or cancelled an Order.

14.3. You acknowledge and agree that Bitpanda GmbH and Affiliates (but not Bitpanda Pro Vienna) trade their own corporate funds via Bitpanda Pro. However, such transactions do not have any special priority and these Bitpanda Pro TC apply without exceptions to these entities, in particular regarding the same access to market information and no access to inside information. Bitpanda GmbH and its Affiliates have committed not to engage in front-running. 

14.4. The same applies to all employees of Bitpanda Pro Vienna and its Affiliates. Bitpanda Pro Vienna and its Affiliates have committed to prohibit all their employees from using inside, corporate or similar information to trade Token. All employees are subject to internal trading policies and trade surveillance programmes.

15. Application Programming Interfaces

15.1. Bitpanda Pro Vienna may provide access to specific data and information through APIs (Application Programming Interface) (“Bitpanda Pro API”). You can only use these in their original and unmodified state and via your Bitpanda Pro Account after having successfully completed the Client Verification Process. Upon completion of the application for the creation of an API key you will receive an e-mail with a confirmation link. After clicking on the link in the e-mail you will receive the API key which is the only time the API key is displayed. If you do not remember this API key in the future, you might have to create a new one. 

15.2. You are aware and accept that the scope and concrete form of Bitpanda Pro API is at Bitpanda Pro Vienna’s sole discretion and that Bitpanda Pro API may be suspended, modified or abandoned by Bitpanda Pro Vienna at its sole discretion anytime. Bitpanda Pro Vienna may set limits on the number of API calls that may be made under Bitpanda Pro API at its sole discretion. If you exceed these limits or violate any other terms in this Bitpanda Pro TC or Bitpanda GTC, or other applicable TCs of your Applicable Bitpanda Provider, Bitpanda Pro Vienna may moderate your activity or cease offering you access to the Bitpanda Pro API at its sole discretion.

15.3. It is in your sole responsibility to adequately secure and keep secret your API keys. You accept full responsibility for any use of Bitpanda Pro that is facilitated through your API keys, and/or any other applications which you may authorise (including any activities by you or any third parties that have access to your account information whether authorised or not). You can find more information on Bitpanda Pro API via https://developers.bitpanda.com/exchange/.

16. Intellectual property, brands and logos 

16.1. You confirm that you are the sole and unencumbered holder of all rights related to the names, trademarks, patents as well as your software used on or in connection with Bitpanda Systems.

16.2. If you are a Bitpanda Pro Business Client, you hereby grant Bitpanda a fully paid-up, royalty-free, non-exclusive, worldwide, transferable, sublicensable and irrevocable right, and to the extent necessary, a licence to use all of your intellectual property rights free of charge, especially to (i) use your name, likeness or brand including all of your trademarks, logos, etc (“Logos”) to the extent they are incorporated into your application and in connection with the maintenance, development and promotion of the Bitpanda Pro services, and (ii) use, perform, display to the public, reproduce, distribute, make available, and import into your application to provide, maintain, develop and market the Bitpanda Systems and services. You explicitly authorize Bitpanda Pro Vienna and its Affiliates to use the Logos in part or in edited form. 

16.3. If you are a Bitpanda Pro Business Client, you are required to provide Bitpanda Pro Vienna with one copy of each Logo in electronic form or on a suitable data carrier within seven working days upon request by Bitpanda Pro Vienna. However, Bitpanda Pro Vienna may also use publicly available versions of the logos (e.g. on websites or similar) without obtaining prior consent.

16.4. Upon termination or abandonment of your Bitpanda Pro Account and written request from you, we will make commercially reasonable efforts to remove reference to your application and any of your Logos from our Bitpanda Systems.

16.5. Our brands and names (“Bitpanda Logos”), and all intellectual property rights therein and thereto are and shall at all time remain the sole and exclusive property of Bitpanda Pro Vienna and/or Bitpanda GmbH and are protected by applicable laws and treaties. All rights not expressly granted herein are withheld. 

17. Miscellaneous 

17.1. Severability Clause. If you are a Bitpanda Pro Business Client, if one or more of the provisions of these Bitpanda Pro TC or one or more of the Annexes hereto are or will become invalid or unenforceable, or if one or more of the provisions of these Bitpanda Pro TC or one or more of the Annexes hereto are or will become incomplete, the other provisions of these Bitpanda Pro TC and the Annexes hereto will remain valid without limitation, save that the main obligations of the parties hereunder remain unaffected. Such provision – having been found illegal or unenforceable in whole or in part – shall be ineffective solely to the extent of such determination of invalidity or unenforceability and only with respect to the jurisdiction in which it has been found illegal or unenforceable, without having any effect on any other jurisdiction.

17.2. Subject to point 1.5 above, the Bitpanda Pro TC (as amended from time to time) supersede any prior statements between Bitpanda and you on the matters regulated in the Bitpanda Pro TC. For the avoidance of doubt, this does not apply to the Bitpanda GTC and the Bitpanda GmbH TC (as referred to herein). Any of your (proposed) terms and conditions (“AGB”) are excluded from being applicable to the relationship between you and Bitpanda and the Affiliates, unless we explicitly agree to their applicability.

17.3. The Bitpanda Pro TC shall continue to apply even after termination of the business relationship until complete settlement.

17.4. Contractual language. The Bitpanda Pro TC are made and published in various languages. In case of a dispute or any discrepancies, the English language version of the Bitpanda Pro TC shall prevail vis-á-vis Bitpanda Pro Business Clients. 



Annex I

Definitions

In the Bitpanda Pro TC, the following terms have the meanings specified or referred to in the following overview and shall be equally applicable to both the singular and plural forms. 

Base Token

means the Token being traded on the Order Book, namely the first Token in the trading pair (e.g. on the BTC-EUR Order Book, BTC is the Base Token and F-Token is the Quote Token).

Bitpanda Pro Account

means the user account created on Bitpanda Pro.

Bitpanda Pro Business Client

means every Bitpanda Pro Client for whom the transaction is part of the operation of his/her business according to Sec 1 (1) of the Austrian Consumer Protection Act (Konsumentenschutzgesetz).

Bitpanda Pro Consumer Client

means every Bitpanda Pro Client for whom the transaction is not part of the operation of his/his business according to Sec 1 (1) of the Austrian Consumer Protection Act (Konsumentenschutzgesetz).

Limit Order

means an Order to buy or sell a specified quantity of a Token at a specified price or better. Such Limit Order will only be executed at the specified or better price.

Maker Order

means an Order posted to the Order Book by placing a Limit Order below all pending sell orders for buy, and above the pending buy orders for sell. Such Maker Order will remain open at that price on the Order Book until it is

i. cancelled; or

ii. fulfilled in accordance with point 6.


Market Order

means an Order to buy or sell a specified quantity of a Token at the best available price of existing Orders on the Order Book. It is not possible to specify a price or a price limit in a Market Order.

Modified Fees

means any modified fee structure compared to the usual applicable default fees of the Applicable Bitpanda Provider to certain eligible entities or persons.

Order

means the instruction of a Bitpanda Pro Client to buy or sell a specified quantity of Base Token in exchange for Quote Token.

Order Book

means each order book on which Orders are placed for trading in a trading pair of Token offered on Bitpanda Pro.

Open Order

means any Order which has been placed but not executed, cancelled, deactivated or expired.

Quote Token

means the Token in which trading is denominated on the Order Book, namely the second Token in the trading pair (e.g. on the BTC-EUR Order Book, BTC is the Base Token and F-Token is the Quote Token).

Stop Order

means an instruction to place a Limit Order to buy or sell a specified quantity of a Token if and when the last trade price on the Order Book touches the price specified in the Stop Order. After placing a Stop Order it is active until it is triggered (i.e. when the last trade price reaches the price specified in the Stop Order).
Stop Price
means the price specified in the Stop Order, after which the instruction to buy or sell a Token is given.
Taker Order
means an Order posted at the same price as one or more existing Orders. Such a Taker Order results in an immediate execution at that price and up to the total quantity of those existing Orders.
Token
means the assets offered to be exchanged by using Bitpanda Pro, being E-Token and F-Token.
Trade
the exchange of Token in an amount and at a rate as set out in an Order.


ANNEX II

Applicable Bitpanda Providers

For all customers opening an account via pro.bitpanda.com: Bitpanda GmbH.