What ties OkEX’s futures price to spot price ???

While reading their FAQ, i saw this :

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Is it just me or the last traded price before settlement doesn’t mean a thing ?? Why should this last traded price should be anywhere close to spot price ? So anyone could use a super fast bot to place a large order right before settlement and manipulate the settlement price ?

I see that they are calculating an index and you can’t place order more than 25% + 3% of the index price. But they don’t use this index to calculate settlement price ? Settlement could be as far as 28% off the index price ?

Does this mean that i actually have no promise that futures will actually settle at spot price at the settlement date ?

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