CMSTR is an equity-backed note issued by the Oro (II) Securitization Fund. Each note represents the right to the economic performance of Strategy (Nasdaq: MSTR).
Strategy is a publicly traded operating company committed to the continued development of the bitcoin network through its activities in financial markets, advocacy, and technological innovation.
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CMSTR (CMSTR) — Frequently Asked Questions (FAQ)
— Who is the issuer of CMSTR?
ORO (II) - EQONE is the issuer of CMSTR. Each compartment of ORO (II) acts as issuer of the Notes issued from that compartment. ORO (II) is a Luxembourg umbrella securitisation fund (fonds de titrisation) established under the Securitisation Law of 2004, comprising separate, ring-fenced compartments and the notes issued thereunder are linked to a specific underlying asset.
— What are the roles of Sicos Securities, the ORO (II) Securitization Fund, and STOKR?
SICOS SECURITIES is the Management Company of ORO (II). SICOS SECURITIES acts in its own name but for the account of each Compartment, which is the issuer of the Notes issued from that Compartment. In this capacity, SICOS SECURITIES oversees all operational aspects, including instructing brokers and custodians to purchase and hold the Underlying, maintaining the Noteholder Register, and ensuring ongoing regulatory compliance .
STOKR S.A. is the Technology Provider. STOKR operates the platform at stokr.io, through which investors complete AML/KYC onboarding and whitelisting onto the Liquid Network. STOKR does not manage the fund or its compartments; those responsibilities rest with SICOS SECURITIES as Management Company.
— Who can invest in ORO (II)’s securities-backed notes?
All members of Bitfinex Securities will be able to participate in the secondary market trading. The offering is not open to Prohibited Persons and/or Prohibited Jurisdictions, including US Persons.
— Are there any investment restrictions for secondary market trading?
Secondary market trading is available to all eligible members of Bitfinex Securities. Prohibited Persons and residents of Prohibited Jurisdictions — including U.S. Persons — may not participate.
— Who is the regulator overseeing this listing?
The direct listing of the Notes on Bitfinex Securities El Salvador S.A. de C.V. has been approved by the Comisión Nacional de Activos Digitales (CNAD) of El Salvador. ORO (II) itself is a Luxembourg securitisation fund, established and governed under the Luxembourg law of 22 March 2004 on securitisation, as amended.
— What are the risks associated with the offering?
As with any investment, there are risks involved. Investors should carefully review the comprehensive "Risk Factors" section detailed in the official Relevant Information Document and other offering materials.
— Can I withdraw my Notes from Bitfinex Securities to my own wallet?
Yes. Notes can be withdrawn from the Bitfinex Securities Trading Facilities to an external wallet, subject to a minimum withdrawal amount of 1 (one) CMSTR and completion of the whitelisting process at https://stokr.io. Withdrawal eligibility depends on your jurisdiction.
— Are there withdrawal restrictions based on where I live?
Yes. Investors resident or established in the European Economic Area (excluding Luxembourg and Germany) may only withdraw Notes if the withdrawal amount has an aggregate market value of at least USD 150,000, or if they can demonstrate professional investor status under MiFID II (Annex II) through the STOKR whitelisting process.
Investors from eligible non-EEA jurisdictions — excluding Prohibited Jurisdictions and the United States — may withdraw any amount of at least 1 (one) CMSTR Note upon completing the STOKR whitelisting process.