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No one is on the other side of a lock, nothing is hedged for you, and there is no fee. Every order is placed under the consent you gave on STX's own page and shows in your STX orders; you can revoke it there at any time. This page never holds your money, your login or your keys.
Every lock is priced against every venue this service reads and filled where you hold the position, on STX; the record keeps what the others would have paid. Every lock is written to a public record in neutral words, with no account ids.