PREAMBLE AND STRUCTURE OF THIS DOCUMENT
1 Sections
Preamble & Master Overview
This document (the “Terms”) is the master agreement governing all access to and use of
the LineUp platform. It is drafted in the style of an exchange rulebook: it sets out not only
the contractual relationship between you and LineUp, but also the operating rules of the
market itself, how instruments are created, how prices form, how orders execute, how
positions settle, and how the market is protected. Where these Terms describe market
mechanics, those descriptions are operating rules binding on every User, and LineUp
administers them uniformly.
These Terms are organised into twelve Parts: Part I, Introduction (Sections 1-5); Part II,
Eligibility (Sections 6-10); Part III, Account (Sections 11-15); Part IV, Platform (Sections
16-24); Part V, Trading (Sections 25-34); Part VI, Payments (Sections 35-40); Part VII, User
Responsibilities (Sections 41-46); Part VIII, Risk (Sections 47-53); Part IX, Intellectual
Property (Sections 54-57); Part X, Liability (Sections 58-60); Part XI, Privacy (Sections 61-
63); Part XII, Miscellaneous (Sections 64-69); followed by Schedules.
The following documents are incorporated into these Terms by reference and form part of
the agreement between you and LineUp: the Privacy Policy (https://lineup.trade/privacy),
the Risk Disclosure Statement (https://lineup.trade/risk-disclosure), the Responsible
Trading Policy (https://lineup.trade/responsible-trading), the AML/KYC Policy
(https://lineup.trade/aml-kyc), the Acceptable Use Policy
(https://lineup.trade/acceptable-use), the Fee Schedule (https://lineup.trade/fees), the
Cookie Policy (https://lineup.trade/cookies), the API Terms (https://lineup.trade/api-
terms) where applicable, and the Schedules annexed to these Terms. In the event of
conflict, these Terms prevail over the incorporated documents except where an
incorporated document expressly states otherwise, and except that the Risk Disclosure
Statement prevails on matters of risk description.
Interpretation. In these Terms: (a) headings are for convenience and do not affect
interpretation; (b) “including” means “including without limitation”; (c) the singular
includes the plural and vice versa; (d) references to a statute include its amendments and
re-enactments; (e) references to “writing” include email and in-Platform notices; (f)
references to Sections and Schedules are to sections of and schedules to these Terms; (g)
where these Terms grant LineUp a discretion, LineUp will exercise it in good faith and,
where the discretion concerns market operation, in a manner intended to preserve fair and
orderly markets; and (h) capitalised terms have the meanings given in Section 2.
PART I: INTRODUCTION
5 Sections
2. Definitions
“Account” means the user account registered with LineUp through which you access the
Platform.
“Affiliate” means in relation to a person, any entity that directly or indirectly controls, is
controlled by, or is under common control with that person.
“AML/KYC Policy” means LineUp’s anti-money-laundering and know-your-customer
policy at https://lineup.trade/aml-kyc, as amended from time to time.
“Base Currency” means Indian Rupees (INR), the unit in which SPA prices, Position values,
margin, and profit and loss are calculated and settled on the Platform. Users may choose to
view balances and prices in INR, US Dollars (USD), or Euros (EUR); USD and EUR are
display conversions only, and INR remains the accounting and settlement base (Section
37.4).
“Business Day” means a day other than a Saturday, Sunday, or public holiday in Dubai,
United Arab Emirates.
“Circuit Breaker” means a temporary, automatic or discretionary halt in trading of one or
more SPAs, applied under Section 22 or 23.
“Collateral” means value committed by you to secure Margin obligations, locked through
the mechanisms in Section 28.4.
“Corporate Action” means a real-world event affecting a Reference Player that triggers
adjustment of an SPA under Section 34.
“Data Providers” means the third-party sources from which the Platform obtains sports
data: for football, football-data.org; for cricket, cricketdata.org; together with any successor
or additional providers designated by LineUp (Schedule 3).
“Fee Schedule” means the schedule of fees at https://lineup.trade/fees, as amended from
time to time.
“Fiat Balance” means INR value credited to you and held by the Payment Partner under
Sections 35 and 37. A Fiat Balance is a claim against the Payment Partner under its terms,
not a deposit with LineUp.
“Leverage” means trading exposure exceeding the Collateral committed, capped as set out
in Section 32.
“Linked Wallet” means a Self-Custody Wallet you have connected to your Account under
Section 38.
“Liquidation” means the compulsory closure of some or all of your Positions under Section
30.
“Liquidity Engine” means the automated system operated by LineUp through which
Orders execute against Liquidity Pools (Section 19). It does not match Users peer-to-peer,
and LineUp is not a counterparty to trades executed through it.
“Liquidity Pool” means a pool of capital, seeded by LineUp, its Affiliates, and/or its
investors, against which Orders execute. Liquidity Pools are legally and operationally
distinct from LineUp’s role as Platform operator (Sections 5 and 19).
“Margin” means the minimum Collateral required to open (“Initial Margin”) or maintain
(“Maintenance Margin”) a leveraged or short Position.
“Order” means an instruction submitted through the Platform to buy or sell an SPA
(Section 25).
“Payment Partner” means the regulated third-party provider through which INR deposits,
balances, and withdrawals are processed and held. At the Effective Date this is Razorpay
(Schedule 4).
“Performance Engine” means the algorithmic system (Sections 20-21) that determines
and adjusts SPA prices by reference to Reference Player performance and market
dynamics.
“Platform” means the LineUp websites, mobile applications, APIs, and related services
made available by LineUp.
“Position” means your open exposure in an SPA, whether long or short, including
fractional quantities.
“Reference Player” means the real-world sports player whose identity and performance
statistics are used to identify and price an SPA. A Reference Player is not a party to these
Terms and has no relationship with LineUp except where separately and expressly
licensed.
“Restricted Jurisdiction” means any jurisdiction listed in Schedule 1, and any other
jurisdiction in which the Platform or any feature of it is unlawful, unlicensed, or restricted,
or whose residents LineUp elects not to serve.
“Self-Custody Wallet” means a cryptocurrency wallet whose private keys are controlled
solely by you.
“Settlement” means the process by which a closed, expired, liquidated, or adjusted
Position is reconciled and the resulting value credited or debited (Section 33).
“SPA” / “Synthetic Player Asset” means a synthetic digital asset made available for
trading on the Platform, whose price references market activity in that asset and the
performance of a Reference Player. The nature and limits of SPAs are set out in Sections 4,
16, and 48.
“Trading Session” means a period during which trading in a given SPA is open (Section
18).
“User” means any person or entity that has registered an Account and, where the context
requires, any person accessing the Platform.
3. About LineUp
3.1. The Platform is owned and operated by LineUp, a company established under the laws
of the Emirate of Dubai, United Arab Emirates, with its registered office in Dubai, United
Arab Emirates. Full entity, trade-licence, and registered-address details are stated in
Section 69.
3.2. LineUp is a sports trading platform on which Users trade Synthetic Player Assets
representing real-world sports players, with prices driven by market activity on the
Platform and the live performance of the Reference Players. The sports covered at launch
are association football and cricket; LineUp may add or remove sports at its discretion.
3.3. LineUp is not a betting platform. The Platform does not offer, and Users cannot place,
bets or wagers on the outcome of matches, sporting events, or player outcomes. No product
on the Platform pays out by reference to whether a discrete sporting event occurs or does
not occur. Users take continuous price exposure to SPAs, which they may open and close at
prevailing prices while the market is open, in the manner of trading rather than wagering.
3.4. Regulatory status. LineUp is a technology platform operator. As at the Effective Date,
LineUp is not authorised or licensed as a bank, e-money institution, securities exchange, or
regulated financial-services provider in any jurisdiction, and it does not custody User funds
(Part VI). LineUp makes the Platform available only in jurisdictions where doing so is
lawful without a licence or authorisation that LineUp does not hold, and restricts access
elsewhere (Section 7 and Schedule 1). As LineUp obtains licences or registrations in
particular markets, it will update this Section and the applicable Schedules.
3.5. Contact details for LineUp are set out in Section 69.
4. Nature of the Platform
4.1. The Platform is a venue and a set of automated systems through which Users may open
and close Positions in SPAs, whose prices are determined by the Performance Engine by
reference to (a) trading activity and market dynamics on the Platform and (b) the
performance of Reference Players in real-world matches, using data supplied by the Data
Providers.
4.2. What SPAs are not. Each SPA is a synthetic digital asset that exists solely as an entry in
the Platform’s systems. An SPA: (a) is not a share, stock, bond, security, or other financial
instrument issued by or on behalf of any Reference Player, club, team, league, or governing
body; (b) confers no ownership interest, equity, income right, dividend, or revenue share
on or against any Reference Player or organisation; (c) confers no rights against any
Reference Player, who is a stranger to these Terms; (d) is not legal tender, money, or e-
money; (e) has no existence, value, or transferability outside the Platform, and may not be
transferred between Users off-market, pledged, or encumbered; and (f) may lose some or
all of its value, including upon Corporate Actions (Section 34) or delisting (Section 24).
4.3. No advice. LineUp does not provide investment, financial, trading, tax, accounting, or
legal advice. All information on the Platform, prices, charts, statistics, form indicators,
leaderboards, and commentary, is provided for information only and is not a
recommendation to trade. You are solely responsible for your trading decisions.
4.4. No solicitation. Nothing on the Platform constitutes an offer or solicitation in any
jurisdiction where such offer or solicitation would be unlawful.
4.5. Independence. LineUp is an independent platform. Unless expressly stated in writing,
LineUp is not affiliated with, endorsed by, sponsored by, or licensed by any Reference
Player, club, team, league, federation, or governing body, and the use of player names and
statistics does not imply any such relationship (Sections 55-56).
5. Relationship Between You and LineUp
5.1. Operator, not counterparty. LineUp operates the Platform, the Liquidity Engine, and
the Performance Engine as technology and market-administration services. LineUp does
not act as counterparty to any User trade. When your Order executes, it executes against
a Liquidity Pool through the Liquidity Engine, not against LineUp and not against another
identified User.
5.2. Not your broker, agent, adviser, or fiduciary. LineUp does not act as your broker,
dealer, agent, portfolio manager, adviser, or fiduciary, and owes you no fiduciary duties.
The relationship is that of platform operator and platform user, on the arm’s-length terms
of this agreement.
5.3. Not a custodian. LineUp does not hold, custody, or control User funds. Fiat Balances
are held by the Payment Partner; cryptocurrency remains in your Self-Custody Wallet (Part
VI). LineUp’s systems record balances and Positions as ledger entries for the operation of
the market, but those records are not deposits with LineUp, and LineUp is not a bank, e-
money issuer, or custodian.
5.4. Liquidity Pool disclosure. Liquidity Pools may be seeded, in whole or in part, by
LineUp, its Affiliates, and/or its investors, and those contributors may receive returns
generated by the Pools. The Pools are structured and operated so that they are legally and
functionally distinct from LineUp’s role as operator: LineUp’s operation of the market
(including the Performance Engine and market-protection mechanisms) is governed by
these Terms and applied uniformly, and is not conducted to favour Pool outcomes over
User outcomes. You acknowledge this structure and the potential conflict of interest it
creates, which LineUp manages through the uniform application of these rules, its internal
conflicts-of-interest controls, and the disclosures in this Section.
5.5. No guarantee of liquidity, price, or profit. LineUp does not guarantee that any Order
will execute, that liquidity will be available at any time or price, that any SPA will retain
value, or that you will make a profit. Liquidity depends on the Liquidity Pools and market
conditions (Section 19).
5.6. Service providers. The Payment Partner, Data Providers, KYC and screening
providers, and hosting and infrastructure providers are independent third parties. Your
relationship with the Payment Partner in respect of your Fiat Balance is governed by that
partner’s terms in addition to these Terms.
PART II: ELIGIBILITY
4 Sections
7. Restricted Jurisdictions
7.1. The Platform is offered internationally, except in Restricted Jurisdictions listed in
Schedule 1, which may be amended at any time, including with immediate effect where
required by law.
7.2. Restricted Jurisdictions include, at minimum: (a) jurisdictions subject to
comprehensive sanctions; (b) jurisdictions where the operation or use of the Platform, or
any material feature (including leveraged trading in synthetic sports-linked assets, or
cryptocurrency transactions), is unlawful or requires a licence LineUp does not hold; and
(c) jurisdictions LineUp elects not to serve for legal, regulatory, or commercial reasons.
7.3. You must not access or attempt to access the Platform from a Restricted Jurisdiction,
and you must not use any technology or technique, including VPNs, proxies, remote
desktops, or false address or residency information, to circumvent geographic controls.
Doing so is a material breach.
7.4. LineUp uses geolocation, IP analysis, KYC data, payment data, and other controls to
enforce jurisdiction restrictions. If LineUp determines that you are in, or have become
subject to the laws of, a Restricted Jurisdiction, LineUp may block access, restrict features,
suspend the Account, close open Positions in an orderly manner at prevailing prices (or at
fair value under Section 33.5 where markets are closed), and remit remaining eligible
balances through the applicable rails, subject to law.
7.5. If your circumstances change, including relocation to a Restricted Jurisdiction, you
must notify LineUp and cease trading; Section 7.4 will then apply.
8. Age Requirement
8.1. You must be at least 18 years old to use the Platform, or older where the law of your
jurisdiction sets a higher minimum age for the activities offered.
8.2. Age is verified during KYC. LineUp will refuse or close any Account where age cannot
be verified or where the holder is under the applicable minimum age, and will handle
related funds and data in accordance with applicable law.
8.3. You must not assist or enable any person under the applicable minimum age to access
the Platform, including through your Account or devices.
9. Institutional Accounts
9.1. Companies, partnerships, funds, and other legal entities may register institutional
Accounts. Professional traders acting as individuals may register standard Accounts and
may be classified by LineUp as professional users for limits, features, or disclosures.
9.2. Institutional registration requires enhanced verification, including constitutional
documents; proof of existence and good standing; identification of directors and ultimate
beneficial owners to the thresholds in the AML/KYC Policy; evidence of the authority of
each individual operating the Account; and any further information LineUp or the Payment
Partner requires.
9.3. The entity is bound by the acts and omissions of every person it permits to operate its
Account. Institutional Accounts may be subject to different limits, fees, margin parameters,
API entitlements, and documentation.
9.4. An institutional User represents on a continuing basis that its use of the Platform is
within its corporate capacity and authority, is lawful under the laws applicable to it, and
complies with any regulatory permissions it requires.
10. Account Verification
10.1. KYC is mandatory for all Users. You must successfully complete identity verification
before accessing trading features, making deposits, or requesting withdrawals. The
standard is set by the AML/KYC Policy and by the requirements of the Payment Partner.
10.2. Verification tiers may apply, with different functional and transactional limits at each
tier. LineUp may require additional or enhanced verification at any time and may suspend
functionality pending completion.
10.3. You must keep verification information current. Material changes, name, nationality,
residency, entity ownership or control, must be notified promptly and may require re-
verification.
10.4. LineUp and its verification providers may collect, verify, and retain identity
documents and biometric or liveness data to the extent described in the Privacy Policy and
permitted by law.
PART III: ACCOUNT
4 Sections
12. KYC & Identity Verification
12.1. This Section supplements Section 10 and the AML/KYC Policy, which governs in full.
12.2. Required verification includes, at minimum: full legal name; date of birth; residential
address; nationality; a valid government-issued identity document; and, where required,
proof of address, a liveness check or biometric selfie, source-of-funds and source-of-wealth
information, and tax identification details.
12.3. LineUp screens Users against sanctions, politically-exposed-persons, and adverse-
media lists at onboarding and on an ongoing basis, and monitors activity for suspicious
patterns. LineUp may pause transactions or suspend Accounts while checks are performed.
12.4. Where required by law, LineUp will report suspicious activity to the competent
authorities and may be prohibited from informing you that it has done so.
12.5. Providing false, misleading, forged, or incomplete verification information is a
material breach and grounds for immediate termination, avoidance of trades, and reporting
to authorities.
12.6. Records collected for verification are retained for the periods required by applicable
law, as described in the Privacy Policy and the AML/KYC Policy.
13. Security
13.1. You are responsible for maintaining the confidentiality and security of your
credentials, devices, email accounts, and Linked Wallets, and for all activity conducted
through your Account, whether or not authorised by you, until you notify LineUp of a
compromise under Section 13.4.
13.2. You must enable two-factor authentication where offered, use a strong unique
password, and keep your devices free of malware. For Linked Wallets, you alone control
your private keys; LineUp never has access to them and can never recover them. Loss
of your keys means loss of access to the cryptoassets they control, and LineUp has no
ability to restore them.
13.3. LineUp implements technical and organisational security measures appropriate to the
service, as described in the Privacy Policy. No system is invulnerable, and LineUp does not
warrant that the Platform is free of vulnerabilities.
13.4. You must notify LineUp immediately at Support@Lineup.trade if you suspect
unauthorised access or any security incident. LineUp may freeze the Account, suspend
trading, and coordinate with the Payment Partner while investigating.
13.5. LineUp will never ask you for your password, 2FA codes, or wallet private keys. Any
such request is fraudulent and should be reported.
13.6. To the extent permitted by law, LineUp is not liable for losses arising from
compromise of your credentials, devices, email, or Self-Custody Wallet, except to the extent
caused by LineUp’s own breach of these Terms or negligence.
14. Multiple Accounts
14.1. Operating, controlling, or benefiting from more than one Account without express
written authorisation is prohibited, including Accounts opened in the names of relatives,
associates, nominees, or entities you control, where the purpose or effect is to evade limits,
margin requirements, jurisdiction restrictions, self-exclusion, promotions, or verification
outcomes.
14.2. Where LineUp identifies linked Accounts in breach of this Section, it may treat them
as a single Account for limit purposes; suspend or close any or all of them; void trades
executed through them; withhold or claw back benefits obtained through the breach to the
extent lawful; and report the conduct where required.
14.3. Legitimate household use (separate individuals in one household each holding their
own Account) is permitted, but each individual must complete their own KYC and use their
own funds and payment methods.
15. Suspension & Termination
15.1. Suspension by LineUp. LineUp may suspend or restrict your Account, in whole or in
part (including disabling new Orders while permitting risk-reducing closures), where: (a) it
reasonably suspects breach of these Terms, fraud, market abuse, or unlawful conduct; (b)
verification or screening is outstanding or has failed; (c) required by law, a regulator, a
court, or the Payment Partner; (d) a security incident affects the Account; or (e) suspension
is reasonably necessary to protect the Platform, other Users, or market integrity.
15.2. Termination by LineUp. LineUp may terminate your Account: (a) for material
breach; (b) where eligibility under Part II cannot be maintained; (c) where required by law
or regulatory direction; (d) on 30 days’ notice for any reason, where permitted by law; or
(e) with immediate effect in the cases in Sections 12.5, 14.2, and 43.
15.3. Closure by you. You may close your Account at any time via Account settings
(“Account → Close Account”) or by emailing Support@Lineup.trade, after closing all open
Positions and settling all obligations and fees.
15.4. Effect of termination. On suspension or termination: (a) open Orders may be
cancelled; (b) LineUp may close open Positions in an orderly manner at prevailing prices,
or at fair value under Section 33.5 where markets are closed or disrupted; (c) eligible
remaining Fiat Balances will be remitted through the Payment Partner to a verified account
in your name, and platform records relating to cryptoassets will be reconciled to your
Linked Wallet, in each case subject to compliance holds, set-off for amounts you owe, and
applicable law; and (d) LineUp will retain records as required by law.
15.5. Survival. Provisions that by their nature survive, including Sections 2, 4, 5, Part VIII,
Part IX, Part X, Sections 61-63, and Sections 67-69, continue after termination.
15.6. Dormancy. Accounts inactive for 6 (six) consecutive months may be designated
dormant. No dormancy fee is charged. Dormant Accounts remain subject to applicable
unclaimed-property laws, and eligible balances are returned on verified request.
PART IV: PLATFORM
8 Sections
17. Market Operation
17.1. LineUp operates the market as an automated, continuous-pricing venue during
Trading Sessions. Users submit Orders; the Liquidity Engine executes eligible Orders
against Liquidity Pools at prices determined under Sections 20-21; executed trades create,
increase, reduce, or close Positions; and Settlement occurs under Section 33.
17.2. No peer-to-peer matching. The Platform does not operate a peer-to-peer order book
in which one User’s Order is matched against another User’s Order. All executions occur
against Liquidity Pools through the Liquidity Engine. References on the Platform to “the
market”, “buyers”, or “sellers” describe aggregate activity, not identified counterparties.
17.3. Uniform rules. Market rules, pricing, execution priority, halts, limits, liquidation, are
applied uniformly to all Users in like circumstances. LineUp does not offer preferential
execution to any User, Affiliate, or Pool contributor.
17.4. Market parameters. LineUp may set and revise market-wide parameters, including
tick sizes, minimum and maximum Order sizes, price bands, throttles, and fee tiers,
publishing changes on the Platform. Parameter changes apply prospectively.
17.5. Records. LineUp’s records of Orders, executions, prices, Positions, and balances are
maintained to a standard intended to permit reconstruction of market activity and, absent
manifest error, are conclusive evidence of that activity as between you and LineUp.
18. Trading Hours
18.1. Trading in each SPA is open only during live matches involving the relevant
Reference Player, within the Trading Sessions published for that SPA. Outside a live match
there is no open market in that SPA, and Positions in same-match products are settled at
match end under Section 33.3.
18.2. Session times are published on the Platform and follow the fixtures of the relevant
competitions. LineUp may open, delay, extend, shorten, pause, or close any session,
including in response to fixture changes, data availability, or the events in Sections 22-23.
18.3. Orders submitted outside a Trading Session are rejected. LineUp does not guarantee
that any session will open or remain open; fixture postponements, abandonments, and data
interruptions may prevent or interrupt sessions (Sections 22 and 52).
19. Liquidity Engine
19.1. Function. The Liquidity Engine is the automated execution system through which all
trades occur. It quotes prices derived from the Performance Engine, executes eligible
Orders against Liquidity Pools, and applies the market-protection mechanisms in these
Terms.
19.2. Liquidity Pools. Liquidity Pools are pools of capital against which trades execute,
seeded by LineUp, its Affiliates, and/or its investors. The economic outcome of trades
against a Pool accrues to that Pool and its contributors, not to LineUp in its capacity as
operator. The legal separation between LineUp-as-operator and Pool capital is described in
Section 5.4, and the associated conflict of interest is disclosed there.
19.3. LineUp is not a counterparty. Notwithstanding that LineUp or its Affiliates may
contribute capital to Liquidity Pools, LineUp does not take the opposite side of User trades
in its capacity as operator, and no trade creates a bilateral contract between you and
LineUp in respect of the price movement of an SPA. Your trade executes against Pool
liquidity under these market rules.
19.4. No liquidity guarantee. Liquidity depends on Pool capital, market conditions,
volatility, concurrent activity, and the parameters of the Liquidity Engine. LineUp does not
guarantee that liquidity will be available for any Order, size, or SPA; that quoted prices will
be available at execution; that spreads will remain within any range; or that you will be
able to open or close a Position at any particular time or price. During stress, liquidity may
be reduced, spreads may widen, execution may be throttled, and price impact may be
substantial.
19.5. Execution mechanics. Orders execute at the price determined by the Liquidity
Engine at execution time, reflecting the Performance Engine price adjusted for Order size,
available Pool depth, spread, and price-impact parameters. Large Orders may execute at
prices materially different from displayed indicative prices, or partially, or not at all.
19.6. Pool operations. LineUp may create, merge, rebalance, cap, or wind down Liquidity
Pools and adjust Pool parameters in the interest of orderly markets. Where a Pool is wound
down, affected SPAs may be migrated to other Pools or handled under Sections 23-24.
20. Pricing Methodology
20.1. SPA prices are determined by the Performance Engine, which combines (a) a
market component, reflecting buying and selling pressure and Pool depth on the Platform,
and (b) a performance component, reflecting the Reference Player’s real-world
performance (Section 21), subject to (c) control mechanisms, including per-event caps,
smoothing, price bands, and Circuit Breakers.
20.2. The precise weightings, formulas, and parameters of the Performance Engine are
proprietary and confidential. LineUp publishes and maintains a plain-language description
of the methodology, sufficient for Users to understand how prices form, at
https://lineup.trade/pricing-methodology. LineUp may revise the methodology; material
revisions are announced prospectively and do not retroactively re-price closed Positions.
20.3. Indicative prices. Prices displayed before execution are indicative. The binding price
of any trade is the price recorded at execution by the Liquidity Engine.
20.4. No off-Platform meaning. Prices are internal to the Platform, are not official
valuations of any player, are not sourced from any external market, and have no meaning
or use off-Platform.
20.5. Price integrity. LineUp monitors pricing for anomalies. Where inputs are corrupted,
including data-feed errors, provider integrity incidents, or manipulation attempts, LineUp
may suspend affected pricing, substitute corrected data, and apply Sections 22-23.
20.6. Manifest error. Where a price, execution, or Settlement results from a manifest error,
including feed error, software defect, mis-configuration, or obvious mispricing far outside
prevailing levels, LineUp may, acting in good faith and within 48 hours of discovery, cancel
or amend affected trades to the price that would have applied absent the error, and correct
affected balances. LineUp will notify affected Users and keep records of every correction.
This Section applies symmetrically, whether the error favoured you or the Pool.
21. Performance-Based Valuation
21.1. The performance component for each SPA is computed from the Reference Player’s
match events, for cricket, events such as runs, strike rate, wickets, economy, catches, and
milestones; for football, events such as goals, assists, minutes, and defensive or disciplinary
events, using data from the Data Providers, normalised for format, competition, and
context as described in the published methodology.
21.2. Caps and normalisation. Per-match and per-event effects on price are capped and
normalised to limit extreme moves and reduce manipulation incentives. These parameters
are part of the methodology and may be revised prospectively.
21.3. Timing. Performance updates are applied as data is received and validated. Data
latency means price adjustments may lag real-world events by seconds or longer, and may
occasionally be revised when Data Providers correct their records (Section 21.4).
21.4. Official data corrections. Where a Data Provider retrospectively corrects match
data, LineUp may apply the correction prospectively from the moment of processing.
Trades executed before the correction stand at their executed prices, except where Section
20.6 applies.
21.5. Data unavailability. Where data for a match or player is unavailable, materially
delayed, or unreliable, LineUp may freeze the performance component, suspend the
affected session, or apply Sections 22-23, and may settle affected same-match products at
fair value under Section 33.5.
22. Market Interruptions
22.1. LineUp may interrupt trading in one or more SPAs, automatically or by decision,
where any of the following occurs: (a) extreme volatility or disorderly price movement; (b)
failure, delay, or corruption of data from Data Providers; (c) technical failure of the
Platform, the Liquidity Engine, or supporting infrastructure; (d) suspected market abuse or
integrity incident (on the Platform or in the underlying sport); (e) interruption, suspension,
or abandonment of a relevant match; (f) a cyber-security incident; or (g) any event where
interruption is reasonably necessary to preserve a fair and orderly market.
22.2. Automatic volatility interruptions. Where the price of an SPA moves by more than
the published band within the published window, trading in that SPA is automatically
paused for the published cooling period, after which it may reopen, reopen in a closing-
only state, or remain suspended. Bands, windows, and cooling periods are published at
https://lineup.trade/market-parameters.
22.3. During an interruption: new Orders are rejected or held; resting Orders may be
cancelled; and open Positions remain open and continue to bear market risk but cannot be
closed until trading resumes. You may be unable to exit a Position during an
interruption, and the reopening price may differ materially from the pre-
interruption price.
22.4. LineUp will communicate interruptions and expected handling through the Platform
as promptly as practicable and will maintain records of every interruption and its cause.
23. Market Suspension
23.1. LineUp may suspend trading in an SPA, a sport, or the entire market for a sustained
period where the causes in Section 22.1 persist, where required by law or regulatory
direction, or where continued trading would be inconsistent with fair and orderly markets.
23.2. During suspension: no Orders execute; margin calculations continue against the last
validated price or a fair-value reference under Section 33.5; and liquidation triggers are
administered under Section 30.7.
23.3. On resumption, LineUp will publish the resumption basis, which may include an
auction-style or reference-price reopening. Where resumption is not practicable within a
reasonable period, LineUp may settle open Positions at fair value under Section 33.5 or
proceed to delisting under Section 24.
24. Delisting
24.1. LineUp may delist an SPA where: (a) a Corporate Action so requires (Section 34); (b)
reliable data for the Reference Player ceases to be available; (c) sustained illiquidity makes
an orderly market impracticable; (d) legal, regulatory, or rights-related considerations
require it; or (e) LineUp determines delisting is appropriate for the integrity or operation
of the Platform.
24.2. Process. Except where immediate delisting is required, LineUp will announce
delisting in advance, specifying the final trading time, whether the market enters a closing-
only state, and the settlement basis for Positions still open at delisting.
24.3. Settlement on delisting. Positions open at delisting are closed and settled at fair
value under Section 33.5, using the last validated price, the published methodology, and,
where relevant, the circumstances of the triggering event. Proceeds are credited or debited
through the normal Settlement process.
24.4. Delisting is not a default or fault of LineUp and gives rise to no claim except the right
to Settlement under this Section.
PART V: TRADING
9 Sections
26. Trade Matching
26.1. There is no peer-to-peer matching (Section 17.2). “Matching” means the pairing of
your Order with Pool liquidity by the Liquidity Engine according to these rules.
26.2. Priority. Eligible Orders are processed in the sequence received by the Liquidity
Engine, subject to uniform system throttles. Where multiple Limit Orders become
executable simultaneously, they are processed in time priority.
26.3. Binding effect. A trade is formed when the Liquidity Engine records execution. The
recorded price, quantity, and time are binding, subject only to Section 20.6 and the market-
protection provisions of Part IV.
26.4. No guaranteed execution. Neither submission nor display of an Order guarantees
execution. LineUp is not liable for non-execution, partial execution, or execution at a price
different from an indicative display, where these rules have been applied.
27. Fractional Ownership
27.1. SPAs may be traded in fractional quantities, subject to the ₹10 minimum Order value.
“Ownership” here means holding a recorded Position and has the limited meaning given by
Sections 4.2 and 16.2, it is not ownership of any real-world asset or interest.
27.2. Fractional Positions carry the same rights, risks, pricing, margin treatment, and
Settlement as whole units, pro-rated. Quantities are rounded to the nearest supported
increment using standard rounding, with any residual value credited to your Fiat Balance.
28. Margin Trading
28.1. Where enabled for your Account and the relevant SPA, you may open Positions on
margin, committing Collateral smaller than the notional exposure of the Position. Margin
trading amplifies both gains and losses and is subject to the Risk Disclosure Statement and
the feature acknowledgement in Section 1.4.
28.2. Initial and Maintenance Margin. The Initial Margin is 50% of Position value
(equivalent to the maximum 2× Leverage in Section 32). The Maintenance Margin and the
Liquidation threshold are published at https://lineup.trade/margin-parameters and may
be changed prospectively, including intraday for new Positions, where volatility, liquidity,
or risk conditions require. Changes to Maintenance Margin for existing Positions apply with
the notice published with the change, except in stressed conditions where immediate
application is necessary for market protection.
28.3. Margin calls. If your Account margin level falls below Maintenance Margin, the
Platform may issue a margin call through in-Platform and registered-contact notifications,
satisfied by committing additional Collateral or reducing Positions within the stated
window. LineUp is not obliged to issue a margin call before Liquidation where
conditions move too quickly; Section 30 governs.
28.4. Collateral mechanics (non-custodial). Because LineUp does not custody funds,
Collateral is locked in place, not transferred to LineUp: (a) for INR, the required amount
within your Payment-Partner-held Fiat Balance is placed under a hold/reservation so that
it cannot be withdrawn or spent while committed; (b) for cryptoassets, the required
amount is locked from your Self-Custody Wallet through an on-chain escrow arrangement
whose keys you control together with the escrow’s coded release conditions. Locked
Collateral remains yours, subject to the application rights in Section 28.5.
28.5. Application of Collateral. To the extent permitted by applicable law, you grant
LineUp a security interest in (or equivalent right over) locked Collateral to secure
obligations arising from margined and short Positions. On Settlement, Liquidation, or
default, losses and fees are satisfied from locked Collateral through the applicable rail, and
any surplus is released to you.
28.6. No funding charges. LineUp does not charge periodic funding or financing charges
on Positions. Because trading occurs only during live matches (Section 18) and same-match
Positions settle at match end, Positions are not carried overnight.
29. Short Selling
29.1. Where enabled, you may open a Short Position, selling an SPA you do not hold,
profiting if its price falls and losing if it rises. All Short Positions are margined under
Section 28 and subject to the limits in Section 31.
29.2. Loss profile. Because an SPA’s price can rise, a Short Position can move against you.
Your maximum loss is limited by LineUp’s negative-balance protection and Liquidation
process (Sections 30.5-30.6): you will not lose more than the Collateral committed to
the Position.
29.3. Short-specific controls. LineUp may impose, per SPA or market-wide: higher margin
for shorts within the overall leverage cap; short-exposure caps; restrictions on new shorts
during specified events (including around Corporate Actions or integrity investigations);
and forced-close mechanisms where market protection requires.
29.4. Short Positions remain subject to all market-protection mechanisms, including Circuit
Breakers and suspensions, during which shorts, like longs, continue to bear market risk
and may be unable to close.
30. Liquidation
30.1. Trigger. If your Account margin level falls to or below the Liquidation threshold
published at https://lineup.trade/margin-parameters, the Platform may liquidate some or
all of your margined and short Positions, automatically and without further notice, to the
extent necessary to restore your Account above the required level.
30.2. Order of liquidation. Where you hold multiple Positions, Liquidation proceeds on a
largest-loss-first basis, closing the Position(s) with the greatest unrealised loss first, until
your Account is restored above the required level. Liquidation may occur in one or multiple
tranches and, in fast markets, at prices materially worse than the trigger price.
30.3. Liquidation fee. A Liquidation fee of 0.1% of the value of each liquidated Position
applies, to defray the costs and risks of compulsory closure, as set out in the Fee Schedule.
30.4. Priority of application. Collateral and proceeds are applied in this order: (i) realised
losses on liquidated Positions; (ii) the Liquidation fee and other trading fees; (iii) other
amounts you owe under these Terms; (iv) surplus released to you.
30.5. No liability for timing or price. Provided the published rules were applied, LineUp is
not liable for the occurrence, timing, sequence, or price of any Liquidation, including where
a less damaging outcome might have been achieved by different timing or where prices
recovered afterwards.
30.6. Negative-balance protection. LineUp operates the Liquidation process to close
Positions before your Collateral is exhausted. You cannot lose more than the Collateral
committed to your Positions, and you will not be left owing LineUp a negative
balance in respect of market losses. Where rapid price movement (“gapping”) causes a
Position to close beyond its Collateral, LineUp (through the relevant Liquidity Pool) bears
the shortfall, and no debt is created against you. This protection does not cover amounts
you owe through fraud, abuse, chargeback reversal, or breach of these Terms.
30.7. Liquidation during interruptions and suspensions. During a Circuit Breaker,
interruption, or suspension, automatic Liquidation is paused for the affected SPA except
where a reliable fair-value reference exists under Section 33.5. On resumption, margin
levels are recalculated at reopening prices and Liquidation may occur immediately.
31. Position Limits
31.1. LineUp may impose limits on Position size per SPA per Account, aggregate exposure
per Account, short exposure per SPA, open Order counts, and market-wide concentration
per SPA. Current limits are published at https://lineup.trade/position-limits.
31.2. Limits may differ by verification tier, account type, SPA, and market conditions, and
may be changed prospectively, including intraday in stressed conditions (applying to new
Positions immediately and to existing Positions with the published transition treatment).
31.3. Orders that would breach a limit are rejected or reduced. Where existing Positions
exceed a newly reduced limit, you may be required to reduce within a stated window,
failing which LineUp may reduce them at prevailing prices.
31.4. Limits are risk and integrity tools; they are not advice about appropriate position
sizing for you.
32. Leverage
32.1. Where offered, Leverage allows exposure exceeding committed Collateral. The
maximum Leverage is 2× (two times), applied uniformly to all Users (equivalent to
50% Initial Margin). LineUp may reduce available Leverage prospectively at any time,
including intraday for new Positions, and may deny or reduce Leverage for any Account on
risk grounds.
32.2. Leverage multiplies the effect of price movements on your Collateral in both
directions and shortens the distance to margin calls and Liquidation. At the maximum 2×
Leverage, a 50% adverse move in an SPA can eliminate the Collateral supporting a Position.
32.3. Leverage availability is a market feature, not a recommendation, and the same cap
applies to retail, professional, and institutional Users unless a stricter cap is required by
applicable law in a particular market.
33. Settlement
33.1. Continuous settlement. When a Position is closed, by your Order, by expiry of a
session-linked product, by Liquidation, by delisting, or by Corporate Action handling, the
Platform computes realised profit or loss as the difference between opening and closing
executed prices, net of fees, and settles it in the Platform’s records.
33.2. Non-custodial settlement rails. Settlement is effected through the funds
architecture in Part VI: (a) INR settlement amounts are credited or debited to your Fiat
Balance by instruction to the Payment Partner; (b) crypto settlement amounts are credited
or debited through the escrow mechanism connected to your Linked Wallet. Settlement
instructions are issued promptly on close; crediting is subject to the operational timelines
of the applicable rail.
33.3. Same-match products. Positions in products linked to a specific match are
automatically closed at the published settlement price at match end. You are responsible
for managing such Positions before automatic closure.
33.4. Finality. Settlement is final when recorded, subject only to Section 20.6 and to
corrections required by law.
33.5. Fair value. Where these Terms require settlement at fair value (interruptions that
cannot resume, suspensions, delistings, Corporate Actions), fair value is determined by
LineUp in good faith using, in descending priority: the last validated executed price; the
Performance Engine output computed on validated data; comparable-SPA references; and,
where none is reliable, a reasoned valuation documented in LineUp’s records. LineUp
publishes the fair-value basis used for each such event.
33.6. Netting and set-off. Amounts payable on the same day and rail may be netted.
LineUp may set off amounts you owe under these Terms against Settlement amounts due to
you and may instruct corresponding holds through the applicable rails.
34. Corporate Actions (Retirement, Suspension, and Similar Events)
34.1. Real-world events affecting a Reference Player can fundamentally change or end the
basis on which an SPA is priced. Corporate Actions include: announced or effective
retirement; disciplinary suspension or ban; sustained deselection or non-
participation; transfer, league change, or format change materially affecting data
coverage; loss of data coverage by Data Providers; and death of the Reference Player.
(Injury is not a Corporate Action and does not, by itself, trigger this Section; injury risk is
addressed in Section 52.)
34.2. Toolkit. On a Corporate Action, LineUp may, as appropriate to the event and in the
sequence it determines: (a) halt or restrict trading in the SPA (including closing-only
mode); (b) freeze or adjust the performance component; (c) re-parameterise the SPA
prospectively; (d) close and settle open Positions at fair value under Section 33.5; and/or
(e) delist the SPA under Section 24.
34.3. Standards. LineUp administers Corporate Actions in good faith, consistently across
comparable events, and with the objective of preserving the economic position of open
Positions as nearly as the event permits, recognising that some events (such as retirement
or death) may leave an SPA with little or no continuing basis of value, in which case
Settlement at fair value is the full extent of any entitlement.
34.4. Announcements. Corporate Action treatments are announced on the Platform, with
the event, the treatment applied, the fair-value basis (where used), and effective times.
LineUp maintains records of all determinations.
34.5. Sensitive events. Where an event involves the death of a Reference Player, LineUp
will administer the market consequences under this Section and may restrict promotional
display of the affected SPA as a matter of basic respect. No User acquires any claim arising
from such restraint.
34.6. Integrity events. Where a match or player is subject to a published integrity
investigation (for example, alleged fixing), LineUp may suspend affected SPAs, defer
Settlement until reliable data or official outcomes are available, and void trades
demonstrably connected to the integrity breach.
PART VI: PAYMENTS
5 Sections
36. Withdrawals
36.1. You may withdraw your available balance, the portion of your Fiat Balance or
committed crypto not locked as Collateral, reserved for open Orders, or subject to holds, at
any time.
36.2. Instant intent. Withdrawals are intended to be processed instantly upon request.
Actual crediting depends on (a) payment-network and blockchain availability, cut-offs, and
confirmation times; (b) compliance checks (AML screening, fraud review, source-of-funds
verification, sanctions screening), which may pause a withdrawal until resolved; and (c)
the operational status of the Payment Partner or network. Instant processing is an
intention, not a guarantee, and a paused or delayed withdrawal is not a default by LineUp
where these Terms or applicable law require the pause.
36.3. Destinations. INR withdrawals are paid only to a verified account in your own name
via the Payment Partner. Crypto withdrawals/releases go only to your verified Self-
Custody Wallet. Withdrawals to third parties are not permitted.
36.4. Currency of withdrawal (launch scope). At launch, withdrawals are available in
INR (via the Payment Partner) and in supported cryptoassets (to your Self-Custody
Wallet). Withdrawal in USD or EUR via an integrated self-custody (Web3) wallet is a
planned later-phase feature and is not available at the Effective Date; until it is launched
and governed by updated terms, USD and EUR function only as display currencies under
Section 37.4.
36.5. Limits and fees. Minimums, maximums, velocity limits, and fees are published in the
Fee Schedule and at https://lineup.trade/supported-assets, and may differ by rail and
currency.
36.6. Obligations first. LineUp may decline or reduce a withdrawal to the extent of
unsettled obligations, amounts owed, or amounts subject to set-off under Section 33.6.
36.7. Suspicious activity. Where withdrawal patterns indicate fraud, layering, or abuse,
LineUp and the Payment Partner may hold withdrawals, require enhanced verification, and
report as required by law, and may be prohibited from explaining the hold (Section 12.4).
37. Fiat Payments
37.1. INR payment processing and holding is performed by the Payment Partner
(Razorpay), a regulated third party (Schedule 4). By using fiat features you also accept the
Payment Partner’s terms, presented at onboarding or first use. LineUp may change or add
Payment Partners on notice under Section 63.3; the current Payment Partner is stated in
Schedule 4.
37.2. Your claim is against the Payment Partner. Your Fiat Balance is an entitlement
against the Payment Partner under its terms and applicable safeguarding rules. LineUp is
not a party to that entitlement, does not guarantee the Payment Partner’s performance or
solvency, and is not liable for its acts, omissions, or failure, except to the extent caused by
LineUp’s breach of these Terms. In a Payment Partner insolvency, your recourse is
determined by the partner’s regulatory regime and applicable law.
37.3. Instructions. You authorise LineUp to transmit instructions to the Payment Partner
to credit and debit your Fiat Balance for Settlement, to lock and release Collateral holds, to
collect fees, and to execute withdrawals. Instructions are transmitted on the basis of your
Orders and these rules, and you ratify instructions so transmitted.
37.4. Currency display and conversion. INR is the Base Currency (Section 2). You may
choose to view balances and prices in INR, USD, or EUR; USD and EUR are display
conversions only, calculated at a reference FX rate disclosed at https://lineup.trade/fx-
and-conversion, and do not change the fact that your balance, margin, and Settlement are
maintained in INR. Where an actual currency conversion occurs (for example, on a
supported deposit or withdrawal), it is performed by the Payment Partner or its FX
provider at the rate and fee disclosed at the time.
37.5. Chargebacks. Initiating a chargeback or payment reversal in bad faith, including to
reverse trading losses, is a material breach. LineUp and the Payment Partner may contest
such reversals, suspend the Account, recover costs, and set off amounts under Section 33.6.
38. Crypto Payments
38.1. Self-custody model. Cryptoassets used on the Platform remain in your Self-Custody
Wallet. You alone control your private keys; LineUp never holds them, never takes
possession of your cryptoassets, and cannot reverse, freeze (except through the coded
escrow lock you enter under Section 28.4), or recover on-chain transactions.
38.2. Linked Wallets. To use crypto features, you connect a Self-Custody Wallet through
the supported connection flow and verify control of it. Linked Wallets are screened
(including on-chain analytics) at linking and on an ongoing basis; wallets associated with
sanctioned addresses, mixers, hacks, or illicit-finance typologies may be refused or
unlinked, and connected activity may be reported as required by law.
38.3. Commitment and lock mechanics. Trading with crypto value uses the on-chain
escrow lock described in Section 28.4(b). You should review the mechanism’s published
documentation at https://lineup.trade/wallet-security before use. Locked value is released
according to Settlement outcomes under Section 33.
38.4. Your responsibilities. You are solely responsible for the security of your wallet and
keys; verifying addresses, assets, and networks before every transaction; network/gas fees;
and the tax character of your crypto transactions. Transactions sent to wrong addresses or
networks, or in unsupported assets, may be permanently lost.
38.5. Network risk. Blockchain networks are outside LineUp’s control. Congestion, forks,
reorganisations, validator failures, and protocol exploits may delay, alter, or prevent
transactions. LineUp may suspend crypto features for affected networks and determine,
reasonably and consistently, how forks and airdrops are treated for platform purposes (by
default: unsupported unless announced).
38.6. Volatility and conversion. Where crypto value is measured against INR for margin,
Settlement, or fees, the conversion basis and timing are published at
https://lineup.trade/fx-and-conversion. Where crypto is used as Collateral, its own
volatility can independently trigger margin calls and Liquidation even without SPA price
movement.
38.7. Stablecoins. Where stablecoins are supported, you acknowledge issuer risk, de-peg
risk, and the possibility of issuer freezes at the token-contract level, none of which are
within LineUp’s control.
39. Taxes
39.1. You are solely responsible for determining, reporting, and paying all taxes arising
from your use of the Platform, including taxes on trading profits, crypto transactions and
conversions, and withdrawals, under the laws of every jurisdiction applicable to you.
39.2. LineUp does not provide tax advice. Platform records and statements are provided for
convenience and are not tax documents unless expressly labelled as such.
39.3. Where required by law, LineUp or the Payment Partner may withhold amounts, apply
transaction-level taxes or levies, collect tax residency and taxpayer identification
information (including under FATCA/CRS-type regimes), and report to tax authorities.
Withheld amounts are not recoverable from LineUp.
39.4. If a tax authority asserts a liability against LineUp attributable to your activity or your
failure to provide accurate tax information, you will indemnify LineUp for that liability to
the extent lawful (Section 60).
40. Fees
40.1. Fees are set out in the Fee Schedule (https://lineup.trade/fees), which forms part of
these Terms. Fee categories may include trading fees (per execution or spread-based); the
Liquidation fee of 0.1% (Section 30.3); INR deposit/withdrawal fees (including Payment
Partner pass-throughs); crypto network fee pass-throughs; and currency-conversion fees.
LineUp does not charge funding/financing charges (Section 28.6) or dormancy fees
(Section 15.6).
40.2. Fees are displayed before execution where the interface reasonably permits and are
recorded in your transaction history. Fees are deducted at source from the relevant
transaction, Settlement, or balance through the applicable rail.
40.3. LineUp may amend the Fee Schedule prospectively on 30 days’ notice, or with
immediate effect for new features, promotional reductions, or pass-through changes
imposed by third parties. Continued use after the effective date constitutes acceptance of
amended fees.
40.4. Fees are non-refundable once the corresponding service is performed, except where
required by law or expressly stated.
PART VII: USER RESPONSIBILITIES
5 Sections
42. Prohibited Activities
42.1. You must not, and must not attempt or assist any person to: (a) use the Platform for
money laundering, terrorist financing, sanctions evasion, fraud, or any unlawful purpose;
(b) provide false, misleading, or incomplete information; (c) impersonate any person, or
use another person’s identity, documents, payment methods, or wallet; (d) access the
Platform from a Restricted Jurisdiction or circumvent geographic, eligibility, or exclusion
controls (Section 7.3); (e) interfere with, disrupt, overload, probe, or gain unauthorised
access to the Platform, its infrastructure, other Accounts, or connected systems, or
introduce malicious code; (f) copy, scrape, harvest, mirror, or systematically extract
Platform data, content, or prices except through an authorised API within its limits; (g)
reverse-engineer, decompile, or attempt to derive the Performance Engine, Liquidity
Engine, or other proprietary systems, except to the extent a mandatory law permits; (h)
exploit bugs, errors, latency, promotions, or feed defects for gain rather than reporting
them at https://lineup.trade/security-disclosure; (i) engage in the market-abuse conduct
described in Sections 43-45; or (j) resell, commercialise, or provide the Platform or its data
to third parties without written authorisation.
42.2. Breach of this Section is a material breach. LineUp’s remedies include those in
Sections 14.2, 15, 43.4, and Part X, cumulatively.
43. Market Manipulation
43.1. The integrity of the market is fundamental. You must not engage in, attempt, or
participate in manipulation of any SPA or of the Platform, including: (a) price
manipulation, trading intended to move, peg, or stabilise a price artificially, including
pump-and-dump and ramping; (b) wash trading and self-dealing, trading with yourself
across Accounts or wallets, or with colluding parties, to create artificial volume, price, or
activity; (c) spoofing and layering, submitting Orders you intend to cancel to create a false
impression of supply or demand; (d) collusion, coordinating trading with others to distort
the market or exploit the Liquidity Engine; (e) disorderly strategies, strategies designed
to trigger Circuit Breakers, Liquidations, or cascade effects; (f) cross-market abuse,
attempting to influence real-world sporting events, or the reporting of them, to profit on
the Platform (which may also be a serious crime); and (g) information-based abuse as
described in Section 44.
43.2. Manipulation is assessed by conduct and effect; disguising manipulative activity
through structure, size-splitting, timing, or intermediaries does not remove it from this
Section.
43.3. LineUp operates automated and manual surveillance of trading activity and may
investigate any Account, requiring your cooperation, including explanations of trading
rationale.
43.4. On reasonable determination of a breach, LineUp may void or unwind affected trades;
confiscate profits attributable to the breach to the extent lawful; suspend or terminate
Accounts (including linked Accounts under Section 14); adjust affected market prices
under Section 20.6 where the breach corrupted pricing; report to law-enforcement,
regulators, and, for conduct touching real-world sport, sports governing bodies and
integrity units; and pursue damages.
44. Insider Information
44.1. You must not trade on the Platform on the basis of material non-public information
obtained through a position of access or in breach of a duty, including undisclosed team
selection, injury or fitness information, disciplinary decisions, retirement decisions, or
match-management intentions, until that information is public.
44.2. Persons with inside access, players, coaches, support staff, team and league officials,
medical staff, agents, journalists under embargo, Data Provider personnel, and LineUp
personnel, are prohibited from trading SPAs to which their access relates, and LineUp may
impose broader trading bans on such persons’ Accounts. LineUp may share information
about suspected insider trading with authorities and relevant sports bodies where
required or permitted by law.
44.3. LineUp personnel and contractors are additionally bound by internal dealing rules;
suspected breaches may be reported to authorities.
44.4. Suspected insider trading is treated under Section 43.4 and may also constitute a
criminal offence in jurisdictions applying market-abuse or sports-integrity laws to this
activity.
45. Bots & Automation
45.1. Automated interaction with the Platform, bots, scripts, headless clients, auto-clickers,
or algorithmic order submission, is prohibited except through an authorised API key
under Section 46 and the API Terms.
45.2. Unauthorised automation may be detected through behavioural, device, and network
signals. LineUp may challenge suspected automation, throttle or block traffic, cancel Orders
placed by unauthorised automation, and apply Section 42.2 remedies.
45.3. Authorised automated trading remains fully subject to Sections 43 and 44;
automation is never a defence to market abuse, and you are responsible for the conduct of
your algorithms as if it were your manual conduct.
46. API Usage
46.1. Where LineUp offers an API, access requires an issued API key and acceptance of the
API Terms at https://lineup.trade/api-terms, which govern authentication, entitlements,
rate limits, market-data usage, and technical requirements. In conflict, the API Terms
govern API-specific matters.
46.2. You must keep API credentials confidential and not share or sell them; stay within
published rate and message limits; implement kill-switch and error-handling controls
appropriate to automated trading; and ensure your systems fail safe (no runaway order
loops).
46.3. Market data received via the API is licensed for your own trading use only and may
not be redistributed, resold, or used to operate a competing or derivative service, absent a
written data licence.
46.4. LineUp may suspend, throttle, or revoke API access at any time, immediately where
your API activity threatens Platform stability, breaches limits, or indicates abuse, and may
vary API functionality on notice.
46.5. API users remain bound by every other provision of these Terms, including Part V and
Sections 43-45.
PART VIII: RISK
7 Sections
47. General Risk
47.1. Trading SPAs is speculative and involves a high risk of loss. Prices can move sharply,
gap, and behave unpredictably, particularly during live matches. You may lose the entire
Collateral you commit. Your losses on any Position are, however, limited to the Collateral
committed to it (Section 30.6).
47.2. Trade only with funds whose loss you can bear, never with borrowed money or funds
needed for living expenses, and only if you understand these Terms, the market rules, and
the products.
47.3. Past performance of any SPA, Reference Player, or strategy is not indicative of future
results. Nothing on the Platform is a prediction, recommendation, or assurance of any
outcome.
47.4. Speculative trading can become harmful. The Responsible Trading Policy
(https://lineup.trade/responsible-trading) describes limits, cooling-off, and self-exclusion
tools available to you.
48. Synthetic Asset Risk
48.1. SPAs have no existence or value outside the Platform, no claim on any real-world
asset or person, and no income. Their value derives entirely from Platform market
dynamics and the Performance Engine, and can fall rapidly to a nominal level, including on
Corporate Actions, delisting, methodology changes, or shifts in demand.
48.2. The Performance Engine is an algorithmic construct designed and revised by LineUp;
its behaviour in unusual conditions may differ from expectations formed in normal
conditions.
49. Liquidity Risk
49.1. Liquidity is not guaranteed (Sections 5.5 and 19.4). You may be unable to open or
close Positions at displayed prices, in desired sizes, or at all, particularly in stressed
markets, around major match events, in less active SPAs, and during interruptions and
suspensions, when Positions continue to bear risk that cannot be exited.
49.2. Price impact means that your own Orders, particularly large ones, can move the price
against you.
50. Leverage Risk
50.1. Margin and Leverage (capped at 2×) amplify losses and shorten the distance to
Liquidation. Liquidation can occur without prior margin call in fast markets and at prices
worse than trigger levels, though your loss remains limited to committed Collateral
(Section 30.6).
50.2. Where crypto is used as Collateral, its own volatility adds an independent path to
margin deficiency (Section 38.6).
51. Technology Risk
51.1. The Platform depends on software, infrastructure, networks, the Payment Partner,
blockchains, and Data Providers. Failures, latency, congestion, cyber incidents, and
maintenance can delay or prevent Order submission, execution, pricing updates,
Settlement, deposits, and withdrawals, including at the worst possible moments.
51.2. LineUp may correct manifest errors (Section 20.6) and does not warrant
uninterrupted or error-free operation (Section 58).
51.3. For crypto features, smart-contract and protocol risk exists notwithstanding audits;
exploits may result in loss of locked value in mechanisms outside LineUp’s control.
52. Sports Event Risk
52.1. SPA prices respond to inherently unpredictable sporting events. Match
abandonments, weather interruptions, tactical decisions, disciplinary events, and player
injuries occurring before or during a match can cause large, immediate price moves.
Such events, including any injury to a Reference Player, are outside LineUp’s control
and are your risk as a trader; LineUp is not responsible for losses arising from them.
52.2. Sporting bodies’ decisions, scheduling, selection, sanctions, result amendments, are
outside LineUp’s control and may materially affect SPAs without notice.
53. Data Risk
53.1. Pricing depends on data from third-party Data Providers (Schedule 3). That data may
be delayed, incomplete, erroneous, or subsequently corrected, and coverage may lapse.
Sections 21.3-21.5 describe how the Platform responds; residual effects on prices, margin
calculations, and Settlement may nonetheless occur.
53.2. LineUp does not verify Data Provider output beyond its published validation
processes and is not liable for third-party data defects except as expressly provided in
these Terms.
PART IX: INTELLECTUAL PROPERTY
3 Sections
55. Player Information
55.1. The Platform uses the names and publicly available performance statistics of
Reference Players solely to identify SPAs and to compute the performance component of
pricing. Such use is informational and does not assert any sponsorship, endorsement,
approval, or commercial association by any Reference Player or sports organisation.
55.2. Sports data is supplied under licence from the Data Providers (Schedule 3) and
remains subject to their rights and terms. You acquire no rights in the underlying data.
55.3. Player names, images (where any are displayed), team names, and competition names
may be protected by personality, image, trademark, and database rights belonging to third
parties. LineUp’s use is confined to what it reasonably considers lawful in the relevant
jurisdictions; Users must not extract or reuse this material.
55.4. If any Reference Player or rights-holder objects to the listing of an SPA, LineUp may
amend, suspend, or delist it under Sections 23-24, and such action gives rise to no claim
beyond Settlement under those Sections.
56. Trademarks
56.1. “LineUp”, the LineUp logo, and associated marks are trademarks of LineUp. You may
not use them, including in domain names, apps, promotions, or metadata, without prior
written consent.
56.2. Third-party marks appearing on the Platform (including team, league, and
competition names used nominatively) belong to their owners; their appearance does not
imply affiliation or endorsement in either direction.
57. User Content
57.1. Where the Platform offers user-content features (chat, comments, usernames,
leaderboard display names), you retain your rights in content you submit and grant LineUp
a worldwide, non-exclusive, royalty-free, sublicensable licence to host, store, reproduce,
display, moderate, and remove it for operating and promoting the Platform.
57.2. You are solely responsible for your content. You must not post content that is
unlawful, defamatory, harassing, hateful, obscene, infringing, deceptive, or designed to
manipulate the market (tips, signals, or claims intended to move SPA prices are subject to
Section 43).
57.3. LineUp may moderate, remove, or decline to display content, may suspend content
features for any Account, and will act on lawful takedown notices sent to
Support@Lineup.trade.
PART X: LIABILITY
2 Sections
59. Limitation of Liability
59.1. To the maximum extent permitted by law, LineUp and its directors, officers,
employees, agents, Affiliates, licensors, and suppliers (“LineUp Parties”) are not liable, in
contract, tort (including negligence), breach of statutory duty, or otherwise, for: (a)
indirect, incidental, special, consequential, punitive, or exemplary loss; (b) trading losses,
loss of profits, loss of anticipated gains, loss of opportunity, loss of data, or loss of goodwill;
(c) losses caused by market movements, Liquidations conducted under these rules,
interruptions, suspensions, delistings, Corporate Action treatments, or fair-value
determinations made in accordance with these Terms; (d) acts, omissions, insolvency, or
failure of the Payment Partner, Data Providers, blockchain networks, wallet providers, or
other third parties; or (e) losses arising from your breach of these Terms, compromise of
your credentials or wallet, or your own trading decisions.
59.2. Cap. The aggregate liability of the LineUp Parties for all claims arising in any 12-
month period will not exceed the greater of (a) the total fees you paid to LineUp in that
period and (b) INR 100 (one hundred Indian Rupees).
59.3. Carve-outs. Nothing in these Terms excludes or limits liability for fraud or fraudulent
misrepresentation; death or personal injury caused by negligence; or any liability that
cannot lawfully be excluded or limited.
59.4. The limitations in this Part reflect the allocation of risk on which the Platform is
offered without individually negotiated pricing; each provision is severable and survives
termination.
59.5. Any claim must be brought within 12 months of the date you knew or reasonably
should have known of the facts giving rise to it, where such a limitation is enforceable in
your jurisdiction.
60. Indemnification
60.1. You will indemnify, defend, and hold harmless the LineUp Parties from and against all
claims, demands, actions, damages, losses, liabilities, penalties, and expenses (including
reasonable legal fees) arising out of or connected with: (a) your breach of these Terms or of
applicable law; (b) your trading activity, content, or use of the Platform; (c) your violation
of any third party’s rights; (d) taxes as described in Section 39.4; and (e) chargebacks or
payment reversals initiated in bad faith.
60.2. LineUp may assume the defence of any indemnified claim at your cost, and you must
cooperate. You may not settle any indemnified claim in a manner affecting LineUp without
its written consent.
PART XI: PRIVACY
2 Sections
62. Third-Party Providers
62.1. Personal data is shared with providers necessary to run the Platform: the Payment
Partner; KYC, sanctions-screening, and fraud-prevention providers; blockchain-analytics
providers (for Linked Wallet screening); hosting and infrastructure providers; analytics
and communications providers; and professional advisers, under contracts imposing
confidentiality and security obligations, as detailed in the Privacy Policy.
62.2. Data is disclosed to regulators, law enforcement, courts, tax authorities, and, for
sports-integrity matters, sports governing bodies and integrity units, where required or
permitted by law.
62.3. Where data is transferred internationally, LineUp uses lawful transfer mechanisms
appropriate to the jurisdictions involved, as described in the Privacy Policy.
62.4. The Payment Partner and wallet providers are independent controllers of the data
they process under their own terms; their privacy notices apply to that processing.
63. Communication
63.1. Service communications. By holding an Account you consent to receive, and cannot
opt out of while the Account is active: transactional messages (Order and execution
confirmations, Settlement statements); risk messages (margin calls, Liquidation notices,
volatility and exposure alerts); security messages; and legal and operational notices
(amendments, interruptions, Corporate Actions).
63.2. Marketing. Marketing communications are sent only with any consent required by
law and can be switched off at any time in Account settings or via unsubscribe mechanisms,
without affecting service communications.
63.3. Delivery. Notices from LineUp are validly given when posted on the Platform, sent to
your registered email, or delivered by in-app notification, and are deemed received on
posting or sending. Notices from you to LineUp must be sent to Support@Lineup.trade and
are effective on receipt.
63.4. You are responsible for keeping your contact details current and your inbox able to
receive Platform messages. Time-critical messages, margin calls above all, may allow
only minutes for response; failure to receive or read a message does not suspend the
operation of these rules (Sections 28.3 and 30).
63.5. Communications are conducted in English. Where translations are provided, the
English version prevails.
PART XII: MISCELLANEOUS
5 Sections
65. Force Majeure
65.1. LineUp is not liable for any failure or delay in performance caused by events beyond
its reasonable control, including natural disasters; war, terrorism, and civil unrest;
epidemics; power, internet, and telecommunications failures; failures of the Payment
Partner, Data Providers, blockchains, or other third-party systems; strikes; cyber-attacks;
changes in law or regulatory action; and cancellation, postponement, or restructuring of
sporting events or competitions.
65.2. During a force-majeure event LineUp may take the market-protection actions in Part
IV (interruption, suspension, fair-value settlement, delisting) to the extent reasonably
necessary, and will resume performance as soon as reasonably practicable.
65.3. Your payment and margin obligations accrued before the event are not suspended by
it, except to the extent performance is itself prevented by the event.
66. Assignment
66.1. You may not assign, transfer, charge, or deal with your rights or obligations under
these Terms, and any purported dealing is void.
66.2. LineUp may assign or transfer these Terms, in whole or in part, to an Affiliate or to a
successor in connection with a merger, acquisition, reorganisation, or sale of assets,
provided the assignee assumes LineUp’s obligations. Notice will be given under Section
63.3, and material changes to the operating entity will be treated as material amendments
under Section 64.2.
67. Governing Law
67.1. These Terms, and any non-contractual obligations arising out of or in connection with
them, are governed by the laws of the Dubai International Financial Centre (DIFC),
United Arab Emirates, without regard to conflict-of-laws principles.
67.2. Where you are a consumer and the mandatory consumer-protection laws of your
habitual residence grant you protections that cannot be derogated from by agreement,
those protections are unaffected by Section 67.1.
68. Dispute Resolution
68.1. Good-faith resolution first. Before commencing formal proceedings, you must raise
the dispute with LineUp at Support@Lineup.trade and allow 30 days for good-faith
resolution through the Complaints Handling Procedure at https://lineup.trade/complaints.
68.2. Arbitration. Subject to Sections 68.3-68.4, any dispute, controversy, or claim arising
out of or relating to these Terms, including their existence, validity, breach, or termination,
will be finally resolved by binding arbitration under the Rules of the London Court of
International Arbitration (LCIA) by a sole arbitrator, seated in the Dubai International
Financial Centre (DIFC), conducted in English. The arbitration agreement is governed by
the law of the seat. Judgment on the award may be entered in any court of competent
jurisdiction.
68.3. Individual basis. To the extent permitted by law, disputes must be brought on an
individual basis only; class, collective, and representative proceedings are waived. If this
waiver is unenforceable in your jurisdiction, Section 68.2 does not apply to the affected
claim and Section 68.4 governs.
68.4. Consumer and mandatory-forum carve-out. Where mandatory law grants you the
right to bring or defend proceedings in the courts (or before an ombudsman or consumer-
dispute body) of your residence, nothing in this Section deprives you of that right, and
LineUp may bring proceedings against you in the courts of your residence.
68.5. Interim relief. Either party may seek urgent injunctive or protective relief from a
competent court without breaching this Section.
69. Contact
LineUp Established in: the Emirate of Dubai, United Arab Emirates Registered office:
Dubai, United Arab Emirates (insert full registered address and trade-licence number before
publication) Website: https://lineup.trade/
All communications, general support, complaints, security incidents, privacy and data-
rights requests, compliance/AML, and legal notices and IP takedowns, may be sent to
Support@Lineup.trade. Notices to LineUp are effective on receipt at that address (Section
63.3).
SCHEDULES
5 Sections
Schedule 1: Restricted Jurisdictions
The Platform is not available to persons located, resident, or incorporated in, or accessing it
from:
1. Comprehensively sanctioned jurisdictions and regions, including North Korea
(DPRK), Iran, Syria, Cuba, the Russian Federation, Belarus, and the Crimea, Donetsk,
Luhansk, Zaporizhzhia, and Kherson regions;
2. The United States of America and its territories, pending the licences required to
serve US users;
3. India, in light of the Promotion and Regulation of Online Gaming Act, 2025 and its
prohibition on real-money online games (to be revisited if the legal position
changes);
4. Any jurisdiction identified by the Financial Action Task Force (FATF) as a high-risk
jurisdiction subject to a call for action; and
5. Any other jurisdiction in which the Platform or any material feature of it is unlawful,
unlicensed, or restricted, or which LineUp elects not to serve.
This Schedule may be amended at any time under Section 7.1. (Confirm the full list market-
by-market with local counsel before launch.)
Schedule 2: Feature Availability
At launch, the following features are available uniformly to all eligible Users in non-
Restricted Jurisdictions, subject to verification tier: spot trading of SPAs; fractional trading
(minimum ₹10 per Order); margin trading and short selling at a maximum 2× Leverage;
INR funding and withdrawal via the Payment Partner; and crypto funding and withdrawal
via Self-Custody Wallet. USD/EUR withdrawal via an integrated self-custody wallet, and
any API access, are later-phase features (Sections 36.4 and 46). LineUp may enable or
disable specific features in specific jurisdictions for legal, regulatory, or risk reasons, and
will reflect any such differences in this Schedule.
Schedule 3: Data Providers
• Football: football-data.org, match and player data for supported football
competitions.
• Cricket: cricketdata.org, match and player data for supported cricket formats.
Additional or successor providers may be designated by notice under Section 63.3. Data
remains subject to providers’ rights and terms (Section 55.2).
Schedule 4: Payment Partners
Razorpay is the Payment Partner at the Effective Date, processing and holding INR
deposits, balances, and withdrawals via supported methods (published at
https://lineup.trade/supported-assets). Users’ Fiat Balances are held by, and constitute
claims against, the Payment Partner (Section 37.2); its terms and safeguarding disclosures
are linked at https://lineup.trade/payment-partners. LineUp may add or replace Payment
Partners on notice under Section 63.3. (Before launch, confirm with counsel that the
Payment Partner’s merchant-category rules permit this platform type, that the cross-border
collection model is compliant, and that the flow keeps LineUp outside the flow of funds as
Section 35.1 requires.)
Schedule 5: Published Parameters (Reference)
The following pages form part of the market rules and are incorporated by reference:
pricing-methodology summary (https://lineup.trade/pricing-methodology); volatility
bands and Circuit Breaker parameters (https://lineup.trade/market-parameters); margin,
leverage, and liquidation parameters (https://lineup.trade/margin-parameters); position
and exposure limits (https://lineup.trade/position-limits); Fee Schedule
(https://lineup.trade/fees); supported assets, networks, and rails
(https://lineup.trade/supported-assets); FX and conversion basis (https://lineup.trade/fx-
and-conversion); wallet-security and escrow documentation (https://lineup.trade/wallet-
security); Payment Partner disclosures (https://lineup.trade/payment-partners); API
Terms (https://lineup.trade/api-terms); security-disclosure programme
(https://lineup.trade/security-disclosure); and Complaints Handling Procedure
(https://lineup.trade/complaints).
ACKNOWLEDGEMENT
By creating an Account or using the Platform you acknowledge that: you have read and
understood these Terms and the Risk Disclosure Statement; you understand that SPAs are
synthetic assets with no existence outside the Platform; you understand that LineUp is not
a counterparty to your trades and does not custody your funds; you understand that
liquidity is not guaranteed and that you may lose the entire Collateral you commit (though
not more than that); and you accept these Terms in full.
End of Terms & Conditions