A. Exchange (UDCX): Is a crypto currency exchange that brings buyer and seller together to buy, sell and trade various Crypto currencies. This is fully electronic exchange with an automated trading system. The main role of an Exchange is to provide an efficient trading platform with global standards and binding principles and administrative services to its market participants and members. Exchange supervises, observes and has surveillance over the market activities and ensures the smooth and fair operation of trade. It appoints Market Makers and Brokers. The other role of an Exchange is to look after the concerned grievances unsolved at Broker’s level. Exchange have a very efficient dispute settlement system, with conciliation and arbitration in place for timely settlement of any trade related issues.
B. Market Maker (MM): Market Maker is any individual or institution, registered with the Exchange who quotes Bid and Ask prices for various contracts simultaneously by which the market depth is created and the best prices are generated to execute the orders initiated by the clients. They also trade for profit making but their orders get executed and matched when their intentions are available in the market depth as top priority with that of any client that takes market order or any other market makers close their open positions or clients’ limit/stop orders reach to the level of Best ASK/BID price.
C. Broker: Broker is an institution licensed by exchange in accordance with criteria prescribed by the Exchange who have right to introduce Sub-Brokers and Clients. They act as a market facilitator to traders, providing advisory services, keeping their clients updated and informed about any concerns regarding buying, selling and trading opportunities, handling grievances, thereby, ultimately bridging clients with Exchange.
D. Clients (Buyer, Seller and Trader): Buyer, Seller and Trader are registered with exchange through broker/sub-broker who can buy, sell and trade listed Crypto currencies. They can register with the exchange and can transfer the fund with the help of various available options permitted by the Exchange.