The reserve coins (BAYR) are not timelocked between trades on centralized exchanges. This is becuause the majority of centralized exchanges do not trade coins on the actual blockchain, as it slows things down. Instead, they use an in-house IOU accounting system.
Once the reserve coins are no longer frozen, they can be traded freely at any time.However once a user transfers possession ‘on-chain’ then the coins become timelocked again.