Fractional Coins are investment products; one-to-one bilateral agreements (so-called OTC derivatives) with cryptocurrency as underlying. That means that the value of the Fractional Coins always directly reflects the price development of the underlying cryptocurrency on the related exchange.You can invest in fractions of a whole unit of any offered cryptocurrency.

So e.g. if an underlying cryptocurrency on the related exchange has a current market price of €100,- the price of the Fractional Coin on that cryptocurrency will also be €100,-. You can decide which fraction of the underlying cryptocurrency you want to invest in via the Fractional Coin.

By purchasing Fractional Coins you enter into a bilateral agreement with CM-Equity AG. CM-E is the sole counterparty for all claims arising from the Fractional Coins. Trading of the Fractional Coins does not take place on the exchange but against CM-E as Counterparty, Over-the-Counter (OTC).

You as purchaser of Fractional Coins have no claim to the delivery of the Underlying Cryptocurrency. The Fractional Coins are perpetual and can be sold and terminated at any time during the indicated trading hours.