Effective Date: 21 July 2026
These Terms constitute a legally binding agreement between you ("you" or "your") and the Trade
entities identified below (each an "ADGM Trade Entity", collectively, "ADGM Trade Entities"
"Trade", "we", "our" or "us"):
A NEST EXCHANGE LIMITED (formerly known as Nest Services Limited) ("NEL"),
regulated by the Financial Services Regulatory Authority (the "FSRA") of the Abu Dhabi
Global Market ("ADGM") as the operator of Trade RIE (a Multilateral Trading Facility for
Digital Assets and Fiat-Referenced Tokens, and a Recognised Investment Exchange for
Derivatives). Incorporated in ADGM with the registered address: Addax Tower, Office 4606,
Al Reem Island, Abu Dhabi, UAE, with registration number 000032533;
B NEST CLEARING AND CUSTODY LIMITED (formerly known as Trade (AD)
Limited) ("NCCL"), regulated by the FSRA as the operator of Trade RCH (a Recognised
Clearing House), with additional stipulations for Providing Custody and to operate a Central
Securities Depository. Incorporated in ADGM with the registered address: Addax Tower,
Office 4606, Al Reem Island, Abu Dhabi, UAE, with registration number 000007529; and
C NEST TRADING LIMITED (formerly known as BCI Limited) ("NTL"), an Authorised
Person holding Financial Services Permissions ("FSPs") from the FSRA to carry on Dealing
in Investments as Principal, Dealing in Investments as Agent, Arranging Deals in Investments,
Managing Assets, Providing Money Services, and Arranging Custody (the "Trade Broker
Dealer"). Incorporated in ADGM with the registered address: Addax Tower, Office 4607, Al
Reem Island, Abu Dhabi, UAE, with registration number 000032569.
Each ADGM Trade Entity is regulated by the FSRA.
This Agreement (as defined at Clause 1.3 below), governs your use of your Trade Account and any
other Trade Services made available to you on or through the Trade Platform.
Each ADGM Trade Entity is a separate legal entity. You will have separate contractual obligations
to and from each ADGM Trade Entity as described in the Agreement, supported by a single unified
account structure for operational purposes.
Trade Services may be provided by one or more ADGM Trade Entities, or as specified in the
Agreement. In addition, where any Local Terms apply to your use of the Trade Services, such Local
Terms shall supplement the Agreement and govern your use of the Trade Services.
By registering for a Trade Account, you acknowledge that you have been provided with the
Agreement before the provision of Trade Services.
By accessing the Trade Platform and/or using the Trade Services, you: (i) agree that you have
read, understood and accepted the Agreement; (ii) you acknowledge and agree that you will be bound
by and will comply with the Agreement, as updated and amended from time to time; and (iii) you
confirm that you have the legal capacity and authority to enter into the Agreement.
If you do not understand and accept the terms of the Agreement in their entirety, you should not
register for a Trade Account nor access or use the Trade Platform or any Trade Service.
RISK WARNING
As with any asset, the value of Digital Assets can fluctuate significantly and there is a
material risk of economic loss when buying, selling, holding, borrowing or investing in Digital
Assets. You should therefore consider whether trading, holding, borrowing or investing in
Digital Assets or other investments is suitable for you in light of your financial circumstances.
Additional risks you should consider include:
● Execution and Liquidity Risk: Orders placed on Trade RIE may be subject to price
volatility, slippage and lack of liquidity. There is no guarantee that orders will be
filled at the expected price or at all.
● Leverage and Liquidation Risk: Where you trade using leverage or margin, small price
movements can result in significant losses, up to your entire initial investment. Your
positions may be liquidated automatically if margin requirements are not met,
potentially resulting in the total loss of your margin.
● Custody and Operational Risk: Digital Assets held by the Trade RCH in accordance
with your Agreement and applicable ADGM Rules are subject to operational,
technological and security risks. You may suffer loss in the event of system failures,
cyber-attacks, or other operational disruptions.
● Legal Risk: Virtual Asset regulations are evolving globally. Changes in laws or
regulations may adversely affect your ability to use Trade Services or the value of
Digital Assets.
Further information on the risks associated with using the Trade Services is set out in our
Risk Warning, which may be updated from time to time. You should read the Risk Warning
carefully, however it does not explain all of the risks that may arise, nor how such risks relate
to your personal circumstances.
Securities and Currency made available through the Trade Services may be held, processed
or settled via third-party banks, custodians or payment service providers and are subject to
settlement, transfer reversal, exchange control and counterparty risks, including the risk of
delay or loss if a third party suspends service or becomes insolvent.
By accessing or using the Trade Services, you acknowledge and represent that you have
read, understood, and accepted the risks set out in the Risk Warning, and that you
understand the risks involved with buying, selling, holding or investing in Digital Assets.
