PRICE DISCLOSURE

1. Introduction
1.1. This Price Disclosure Statement explains how OFZA determines and presents prices to clients for Virtual Asset transactions. It is intended to ensure full transparency regarding how fees, mark ups, and other pricing components are applied when OFZA quotes a price to a client.
1.2. This disclosure applies to all pricing provided under OFZA’s Broker Dealer Services.
1.3. This Price Disclosure Statement should be read in conjunction with OFZA’s Terms and Conditions, Best Execution Policy, and Conflict of Interest Policy.

2. Quoted Prices Include Integrated Fees
2.1. When OFZA quotes price to a client, whether for buying or selling a Virtual Asset, the quoted price either includes OFZA’s applicable transaction fee, or the transaction fee is disclosed separately depending on the execution model and trading capacity. In the context of High Touch Trading, for Retail Clients, OFZA shall disclose the portion of the amount retained as fees or commissions prior to execution and in the post trade confirmation, irrespective of the execution method used for such High Touch trades.
2.2. No additional hidden mark ups, spreads, or undisclosed charges are added beyond the integrated or separately disclosed fee.
2.3. Tiered Pricing Disclosure
2.3.1. Where applicable, clients will be provided with relevant tiered pricing information prior to execution, including details of how pricing may vary based on factors such as transaction size, trading volume, relationship level, or trading activity. This enables clients to understand how pricing may differ across tiers before confirming a trade.
2.3.2. Any tiered or customised pricing is applied in a fair, consistent, and non-discriminatory manner, in accordance with OFZA’s conflict of interest and best execution policies.
2.4. Price Variability and Customisation
2.4.1. Quoted prices (including the portion of OFZA’s fees and commission, depending upon the type of client and trade, as detailed in Section 5 below) are indicative until accepted by the client before execution of a trade. However, the price quoted may be subject to change based on prevailing market conditions, transaction size, liquidity availability, client relationship factors, or internal pricing considerations applied in accordance with OFZA’s best execution and conflict of interest policies. Where applicable, pricing may be customised for specific clients or transactions, and any such customised pricing will be disclosed to the client prior to execution.
2.4.2. Clients are required to acknowledge and accept the quoted price including OFZA’s fees or commission (where applicable) prior to execution.

3. Basis of Underlying Market Prices
3.1. The underlying prices used to determine client quotes come from approved liquidity providers (LPs).
3.2. OFZA selects the pricing source reasonably believed to reflect the prevailing market rate at the time of the quote. Market prices are subject to real time volatility.
3.3. Factors considered in determining prices include the characteristics of the market for the Virtual Asset (e.g., price, spreads, volatility, relative liquidity etc), the size and type of transaction, the number of sources of liquidity checked, and accessibility of quotes to trade in the VA under prevailing market conditions.
3.4. OFZA will ensure and adhere to best execution policy in compliance with VARA Broker Dealer rulebook mandates and other applicable rules (refer to our best execution policy and terms and conditions).
3.5. Trading Capacity
3.5.1. When providing price quotes under its Broker Dealer Services, OFZA may act as an agent, principal, or riskless principal depending on the transaction structure and execution method.
3.5.2. OFZA will disclose to the client the capacity in which it is acting prior to and during execution, as required under applicable legal and regulatory requirements.

4. Conflicts of Interest
4.1. OFZA may act as principal (including riskless principal) when quoting prices under Broker-Dealer Services, which may give rise to actual or potential conflicts of interest.
4.2. Any actual or potential conflicts arising from price formation or principal dealing are identified, managed, and mitigated through internal policies and controls.
4.3. Pricing decisions are governed by conflict management and best execution frameworks as detailed in the conflict of interest and best execution policy.

5. Pre-Trade and Post-Trade Information
5.1. High Touch Trading
5.1.1. In the High Touch Trading model, prices quoted to clients (except retail clients) are all inclusive.
5.1.2. OFZA embeds its applicable fee or commission inside the quoted price for all other kinds of clients i.e. institutional/qualified clients as applicable.
5.1.3. The institutional/qualified client (as applicable) receives a single net price (buy or sell).
5.1.4. OFZA’s margin is not shown separately and is already incorporated into the quotation received by institutional/qualified client (as applicable).
5.1.5. No additional spread or commission is charged on top of the consolidated quoted price for institutional/qualified client (as applicable).
5.1.6. Pre-Trade:
5.1.6.1. Clients (except Retail clients) are provided with a final executable quote that already includes OFZA’s applicable fees and commission.
5.1.6.2. For Retail Clients, OFZA discloses the portion of the quoted price (being the amount payable by the client) retained as fees or commissions prior to execution.
5.1.6.3. For Institutional and Qualified Clients, OFZA quotes an all-inclusive price without separate fee or commission.
5.1.7. Post-Trade:
5.1.7.1. Trade confirmations show the executed price and quantity.
5.1.7.2. For Retail Clients, the portion retained by OFZA as fees or commissions is disclosed in the trade confirmation.
5.1.7.3. For Institutional and Qualified Clients, the embedded margin shall not appear as a separate line item, as it forms part of the net price accepted by the client.

5.2. Low Touch Trading
5.2.1. Unlike High Touch Trading, OFZA’s remuneration (if any) is disclosed as a separately identifiable fee or commission, which is added on top of the quoted market price.
5.2.2. Pre-Trade:
5.2.2.1. The final cost displayed to the client before confirmation of a trade will include both the quoted market price plus OFZA’s applicable fees and commission.
5.2.3. Post-Trade:
5.2.3.1. Trade confirmations show the executed price and quantity.
5.2.3.2. The executed price includes OFZA’s fee or commission applicable to the transaction.
5.3. This disclosure is intended to satisfy OFZA’s pre-trade and post-trade disclosure obligations under its best execution policy and other applicable rulebooks.

6. Review, Updates and Client Notification
6.1. OFZA may periodically review and update this Price Disclosure Statement to reflect:
6.1.1. changes in market structure,
6.1.2. regulatory requirements,
6.1.3. internal pricing models, or
6.1.4. liquidity-provider arrangements.
6.2. Updates to this Price Disclosure Statement will be communicated to clients through one or more of the following channels:
6.2.1. publication on OFZA’s website
6.2.2. platform notifications or in app messages
6.2.3. direct email communication
6.3. Unless otherwise stated, updates take effect from the date of publication. Continued use of OFZA’s services following such publication constitutes acknowledgment of the updated disclosure.