AT-LEGAL-002 — Alta Terminal Trading and Order Handling Terms

1. Scope

These Terms govern how Alta Terminal receives, validates, transmits, displays, and records Customer orders for supported virtual-economy instruments. They supplement the Alta Terminal Customer Agreement.

Alta Terminal does not operate a trading venue for securities listed through an external provider. An independent provider may determine whether and how an eligible stock order is accepted, matched, executed, cancelled, corrected, or settled.

Separately, when fictional Alta Crypto instruments are enabled, Alta Terminal may execute eligible crypto market orders against Alta’s internal custodial ledger venue (“Alta Crypto”). Crypto execution rules are described in the Alta Terminal Crypto Trading and Custody Disclosure.

2. Feature Activation

Trading is available only when an account displays an enabled order-entry feature and identifies the applicable service conditions. Research pages, mock quotes, disabled controls, and portfolio tools do not indicate that live order routing is available.

3. Supported Orders

Alta Terminal supports only order types, durations, instruments, quantities, and trading sessions shown as enabled at the time of entry. A description of an order type does not mean that it is currently supported.

Unless the confirmation states otherwise, an accepted order is valid only for the session or period displayed during entry. Unsupported or incomplete instructions may be rejected.

4. Customer Review

Before submission, the Customer must review the instrument, side, quantity, order type, limit or trigger price, duration, estimated value, available funds or position, and disclosed fees.

Alta Terminal may rely on an instruction submitted through an authenticated account. It is not required to contact the Customer to verify an apparently valid instruction.

For an organizational account, an order submitted by an authenticated Company Member may be treated as an authorized organizational instruction because Company Members receive full access. The organization is responsible for confirming each Member’s authority, explaining the full-access model, monitoring orders, and promptly removing a Member who should no longer trade. The in-progress feature exposes only Owner and Member; it does not provide a role boundary that prevents a Member from submitting an order the organization intended to reserve for someone else. No Member may remove the primary owner.

5. Validation and Risk Controls

Alta Terminal may validate identity, permissions, buying power, positions, instrument status, order parameters, limits, duplicate risk, account restrictions, and provider availability before transmission.

Passing Alta Terminal validation does not guarantee provider acceptance or execution.

6. Routing

Eligible orders may be transmitted to an approved independent provider. Alta Terminal may select among available providers using reliability, supported instruments, price information, liquidity, costs, technical compatibility, conflicts, and service availability.

Alta Terminal may route orders through a pooled or omnibus Alta provider account rather than a separate provider account for each Customer. Alta may aggregate compatible instructions, receive one or more provider fills, and allocate those fills to Customer portfolios using a consistently applied method reflected in Alta Terminal's internal ledger. A provider may identify Alta as its account holder and may not maintain the Customer's identity or portfolio as a separate provider account.

Alta Terminal does not promise access to every venue or the most favorable possible outcome. Because this is a fictional virtual-economy service, references to routing quality are operational standards and are not claims of compliance with real-world broker-dealer “best execution” regulation.

7. Timing and Prices

Electronic transmission and execution are not instantaneous. Displayed quotes may change before an order reaches a provider. A market-style order prioritizes execution opportunity over price certainty and may execute at a different price than displayed.

A limit-style order controls the worst permitted price but may never execute. Triggered or stop-style instructions, if supported, may activate during rapid price movement and may execute differently than expected or remain unfilled when combined with a limit.

8. Partial Fills

An order may be executed in multiple parts, at multiple prices, or only in part. The unexecuted portion may remain open, expire, or be cancelled according to the displayed duration and provider rules.

9. Cancellation and Modification

A cancellation or modification request is not effective until confirmed. An order may execute while a cancellation or modification is in transit. If a provider cannot accept the requested change, the original order may remain effective.

10. Rejection, Holds, and Restrictions

Alta Terminal or a provider may reject, hold, or restrict an order because of insufficient funds or positions, invalid instructions, closed sessions, instrument restrictions, volatility, low liquidity, provider limits, stale data, security review, suspected manipulation, technical failure, or applicable rules.

11. Scheduled and Recurring Instructions

Scheduled or recurring trades are available only when the feature is visibly enabled. Creating such an instruction authorizes Alta Terminal to attempt the displayed order on the displayed schedule; it does not guarantee submission or execution.

At each scheduled attempt, Alta Terminal may revalidate account authority, product consent, available cash or positions, limits, market session, instrument status, order parameters, and provider availability. An attempt may be skipped, delayed, rejected, or failed. Cancelling a schedule prevents future attempts only after cancellation is confirmed and does not reverse an order already submitted or executed.

12. Confirmations and Status

Alta Terminal may display statuses such as pending, received, transmitted, accepted, partially filled, filled, cancel pending, cancelled, rejected, failed, corrected, or reversed.

A locally displayed “submitted” or “pending” status is not execution. A provider execution response or reconciled authoritative record controls when inconsistent with an earlier provisional display.

13. Errors and Corrections

Alta Terminal may correct duplicate, clearly erroneous, unauthorized, technically malformed, or provider-corrected activity. Corrections may affect cash, positions, average cost, realized results, fees, and statements.

The Customer must promptly report unexpected activity and must not knowingly retain value created by an obvious error.

14. Trading Interruptions

Alta Terminal may disable order entry or routing during maintenance, provider outages, stale data, reconciliation issues, unusual activity, security incidents, community emergencies, or other conditions that make operation unsafe or misleading.

15. Conflicts and Compensation

Alta Terminal may pay or receive disclosed service, connectivity, data, or routing-related fees. Alta Terminal will not describe provider compensation as independent advice. Material arrangements affecting a specific service will be disclosed where reasonably practicable.

16. Records

Alta Terminal may retain Customer instructions, validation results, provider messages, timestamps, status changes, confirmations, and corrections as operational evidence.

17. Customer Acceptance

By submitting an enabled order, the Customer accepts these Terms and the risks associated with the selected order type and provider model.