Common use of Additional Risks Common to Futures and Options Clause in Contracts

Additional Risks Common to Futures and Options. 期貨和期權共有的額外風險 4.1 Terms and conditions of contracts 合約的條款和條件 The Client should ask the Company about the terms and conditions of the specific Futures/Options Contracts which the Client is trading and associated obligations (e.g. the circumstances under which the Client may become obliged to make or take delivery of the underlying interest of a Futures Contract and, in respect of Options Contracts, expiration dates and restrictions on the time for exercise). Under certain circumstances the specifications of outstanding contracts (including the exercise price of an Options Contract) may be modified by the Exchange, Futures Exchange or Clearing House to reflect changes in the underlying interest. 客戶須向本公司查詢有關客戶買賣特定期貨或期權之條款和條件及其相關義務（即，在何種情形下客戶有義務交付或接受交付期貨合約之有關權益，以及就期權而言，到期日期以及對行使時間的限制）。在某些情況下，未完成之合約的細節（包括期權之行使價）可由交易所或結算公司加以修訂，以便反映有關權益的變化。 4.2 Suspension or restriction of trading and pricing relationships 停市或限制買賣與定價關係 Market conditions (e.g. illiquidity) and/or the operation of the rules of certain markets (e.g. the suspension of trading in any contract or contract month because of price limits or "circuit breakers") may increase the risk of loss by making it difficult or impossible to effect transactions or liquidate/offset positions. If the Client has sold options, this may increase the risk of loss. 市場情況（如，無流通量）及或某些市場規例的運作（如，由於價格限制或「停板」造成任何合約或合約月暫停交易）可令客戶難以或不能執行交易或平倉沖銷持倉量。如果客戶已沽出期權，則可能增加虧蝕的風險。 Further, normal pricing relationships between the underlying interest and the Futures Contracts, and the underlying interest and the Options Contracts may not exist. This can occur when, for example, the Futures Contract underlying the Option Contract is subject to price limits while the Option Contract is not. The absence of an underlying reference price may make it difficult to judge "fair value". 而且，有關權益與期貨以及有關權益與期權之間可能不存在正常的定價關係。例如，當有關期權之期貨合約受價格限制而該期權本身卻不受限制時，往往會發生此情況。有關權益缺乏參考價格亦可令人難以判斷其 「公平」之價值。 4.3 Deposited cash and property 存付現金和財產 The Client should familiarise himself with the protections given to money or other property the Client deposits for domestic and foreign transactions, particularly in the event of a firm insolvency or bankruptcy. The extent to which the Client may recover the Client's money or property may be governed by specific legislation or local rules. In some jurisdictions, property which had been specifically identifiable as the Client's own will be pro-rated in the same manner as cash for purposes of distribution in the event of a shortfall. 客戶必須熟悉客戶在境內或外國之交易中所存付的金錢或其他財產所能得到的保護，特別是有關商號無償債能力或破產時得到的保護。客戶取回該金錢或財產可能受特定的法律或當地條例制約。在一些司法管轄區，如出現虧額，被實際辨認為客戶所擁有之財產，亦可能像現金一樣被按比例分配。 4.4 Commission and other charges 佣金及其他收費 Before the Client begins to trade, the Client should obtain a clear explanation of all commission, fees and other charges for which the Client will be liable. These charges will affect the Client's net profit (if any) or increase the Client's loss. 在開始進行交易之前，客戶先要清楚瞭解其必須繳付之一切佣金、費用及其他收費。這些收費將影響客戶之淨利潤（如有）或增加其虧損。 4.5 Transactions in other jurisdictions 在其他司法管轄區交易 Transactions on markets in other jurisdictions, including markets formally linked to a domestic market, may expose the Client to additional risk. Such markets may be subject to regulation which may offer different or diminished investor protection. Before the Client trades the Client should enquire about any rules relevant to the Client's particular transactions. The Client's local regulatory authority will be unable to compel the enforcement of the rules of regulatory authorities or markets in other jurisdictions where the Client's transactions have been effected. The Client should ask the Company for details about the types of redress available in both the Client's home jurisdiction and other relevant jurisdictions before the Client starts to trade. 倘若客戶在其他管轄區的市場（包括與客戶國內市場正式連接的市場）進行交易，客戶可能須承擔額外的風險。該等市場可能須遵守對投資者提供不同或較少保護之規例。客戶進行交易之前，請查詢與客戶之具體交易有關之任何規則的詳情。客戶之本地監管機構將不能執行客戶進行交易之其他司法管轄區的監管機構或市場的規則。在開始交易之前，客戶應向本公司查詢有關客戶之本國管轄區及其他有關司法管轄區所提供之賠償補救種類的詳情。 4.6 Currency risks 貨幣風險 The profit or loss in transactions in foreign currency-denominated contracts (whether they are traded in the Client's own or another jurisdiction) will be affected by fluctuations in currency rates where there is a need to convert from the currency denomination of the contract to another currency. 當有必要把合約之貨幣單位折算為另一貨幣時，以外幣為計算單位之合約交易的利潤或虧損（不論是在客戶之本國或其他司法管轄區交易）將受匯率波動的影響。 4.7 Trading facilities Electronic trading facilities are supported by computer-based component systems for the order-routing, execution, matching, registration or clearing of trades. As with all facilities and systems, they are vulnerable to temporary disruption or failure. The Client's ability to recover certain losses may be subject to limits on liability imposed by the system provider, the market, the clearing house and/or the Company. Such limits may vary; the Client should ask the Company for details in this respect. 電子交易設施均以電腦組合系統進行落盤、執行、對盤、買賣登記或結算。如同其他所有設施系統一樣，該等設施易受暫時中斷或故障影響，客戶彌補若干損失的能力可能受到系統提供者、市場、結算公司及或其他參與公司對責任實施之限制的影響。該等限制各有不同，客戶應向本公司查詢有關詳情。 4.8 Off-exchange transactions In some jurisdictions, and only then in restricted circumstances, firms are permitted to effect off-exchange transactions. The firm with which the Client deal may be acting as the Client's counterparty to the transaction. It may be difficult or impossible to liquidate an existing position, to assess the value, to determine a fair price or to assess the exposure to risk. For these reasons, these transactions may involve increased risks. Off-exchange transactions may be less regulated or subject to a separate regulatory regime. Before the Client undertakes such transactions, the Client should familiarise himself with applicable rules and attendant risks. 在一些司法管轄區，及只有特定情況下，有關商號獲准進行場外交易。為客戶進行交易之商號可能是客戶所進行之買賣之交易對手。在這種情況下，有可能難以或根本無法平掉既有倉盤、評估價值、釐定公平價格又或評估風險。因此這些交易或會涉及更大的風險。此外，場外交易的監管或會較寬鬆，又或需遵照不同的監管制度。因此，客戶在進行該等交易前，應先瞭解適用之規例及有關之風險。 Stock indices and other proprietary products upon which contracts traded on the Futures Exchange may be based may from time to time be developed by the Futures Exchange. The HKFE Taiwan Index is the first of such stock indices developed by the Futures Exchange. The HKFE Taiwan Index and such other indices or proprietary products as may from time to time be developed by the Futures Exchange (the "HK Exchange Indices") are the property of the Futures Exchange. The process of compilation and computation of each of the HK Exchange Indices is and will be the exclusive property of and proprietary to the Futures Exchange. The process and basis of compilation and computation of the HK Exchange Indices may at any time be changed or altered by the Futures Exchange without notice and the Futures Exchange may at any time require that trading in and settlement of such futures or options contracts based on any of the HK Exchange Indices as the Futures Exchange may designate be conducted by reference to an alternative index to be calculated. The Futures Exchange does not warrant or represent or guarantee to any Exchange Participant or any third party the accuracy or completeness of any of the HK Exchange Indices or their compilation and computation or any information related thereto and no such warranty or representation or guarantee of any kind whatsoever relating to any of the HK Exchange Indices is given or may be implied. Further, no responsibility or liability whatsoever is accepted by the Futures Exchange in respect of the use of any of the HK Exchange Indices or for any inaccuracies, omissions, mistakes, errors, delays, interruption, suspensions, changes or failures (including but not limited to those resulting from negligence) of the Futures Exchange or any other person or persons appointed by the Futures Exchange to compile and compute any of the HK Exchange Indices in the compilation and computation of any of the HK Exchange Indices or for any economic or other losses which may be directly or indirectly sustained as a result thereof by any Exchange Participant or any third party dealing with futures and options contracts based on any of the HK Exchange Indices. No claims, actions or legal proceedings may be brought by any Exchange Participant or any third party against the Futures Exchange in connection with or arising out of matters referred to in this disclaimer. Any Exchange Participant or any third party engages in transactions in futures and options contracts based on any of the HK Exchange Indices in full knowledge of this disclaimer and can place no reliance on the Futures Exchange in respect of such transactions. 作為在期交所買賣合約基準之股份指數及其他專利產品可由期交所不時開發。期交所台灣指數為期交所開發之首個該等股份指數。期交所台灣指數及可由期交所不時開發之其他指數或專利產品(「香港交易所指數」)為期交所之財產。編製及計算各香港交易所指數之程序屬及將屬期交所之獨家財產及專利品。編製及計算香港交易所指數之程序及基準可在毋須通知之情況下由期交所隨時作出變動或更改，而期交所亦可隨時要求以期交所可能指定之任何香港 交易所指數為基準之該等期貨或期權合約在買賣及結算時參考一項有待計算之替代指數。期交所概無就任何香港交易所指數或其編製及計算或其任何有關資料之準確性或完整性而向任何交易所參與者或任何第三者作出保證或聲明或擔保，亦無就與任何香港交易所指數相關之任何事宜作出或暗示任何該等保證或聲明或任何類型之擔保。此外，期交所亦不會就任何香港交易所指數之使用或期交所或其委任以編製及計算任何香港交易所指數之任何一名或多名人士在編製及計算任何香港交易所指數時出現之任何不準確、遺漏、錯誤、出錯、延誤、中斷、暫停、變動或不足 (包括但不限於因疏忽所引致之事宜)或任何交易所參與者或任何第三者因買賣以任何香港交易所指數為基準之期貨及期權合約而直接或間接導致之任何經濟或其他損失承擔任何責任或債務。任何交易所參與者或任何第三者概不得就與本免責聲明所述有關或因而產生之事宜向期交所提出索償、法律行動或法律訴訟。任何參與以任何香港交易所指數為基準之期貨及期權合約之買賣的交易所參與者或任何第三者均完全明暸本免責聲明，並不會就該等交易而對期交所作出任何依賴。 恒生 100 期貨及期權免責聲明 HSI Services Limited ("HSI") currently publishes, compiles and computes a number of stock indices and may publish, compile and compute such additional stock indices at the request of Hang Seng Data Services Limited ("HSDS") from time to time (collectively, the "Hang Seng Indices"). The marks, names and processes of compilation and computation of the respective Hang Seng Indices are the exclusive property of and proprietary to HSDS. HSI has granted to the Futures Exchange by way of licence the use of the Hang Seng Index and the four Sub-indices of the Hang Seng Index, the Hang Seng China-Affiliated Corporations Index and the Hang Seng China Enterprises Index solely for the purposes of and in connection with the creation, marketing and trading of futures contracts and options contracts based on such indices respectively and may from time to time grant to the Futures Exchange corresponding use of any other Hang Seng Indices for the purposes of and in connection with futures contracts and options contracts based on such other Hang Seng Indices (collectively, "HSI Futures/Options Contracts"). The process and basis of compilation and computation of any of the Hang Seng Indices and any of the related formula or formulae, constituent stocks and factors may at any time be changed or altered by HSI without notice and the Futures Exchange may at any time require that trading in and settlement of such of the HSI Futures/Options Contracts as the Futures Exchange may designate be conducted by reference to an alternative index or alternative indices to be calculated. Neither the Futures Exchange nor HSDS nor HSI warrants or represents or guarantees to any Exchange Participant or any third party the accuracy or completeness of the Hang Seng Indices or any of them and the compilation and computation thereof or any information related thereto and no such warranty or representation or guarantee of any kind whatsoever relating to the Hang Seng Indices or any of them is given or may be implied. Further, no responsibility or liability whatsoever is accepted by the Futures Exchange, HSDS or HSI in respect of the use of the Hang Seng Indices or any of them for the purposes of and in connection with the HSI Futures/ Options Contracts or any of them and/or dealings therein, or for any inaccuracies, omissions, mistakes, errors, delays, interruptions, suspension, changes or failures (including but not limited to those resulting from negligence) of HSI in the compilation and computation of the Hang Seng Indices or any of them or for any economic or other losses which may be directly or indirectly sustained as a result thereof by any Exchange Participant or any third party dealing with the HSI Futures/Options Contracts or any of them. No claims, actions or legal proceedings may be brought by any Exchange Participant or any third party against the Futures Exchange and/or HSDS and/or HSI in connection with or arising out of matters referred to in this disclaimer. Any Exchange Participant or any third party deals in the HSI Futures/Options Contracts or any of them in full knowledge of this disclaimer and can place no reliance whatsoever on the Futures Exchange, HSDS and/or HSL. 恒指服務有限公司(「恒指服務」)現時刊印、編製及計算多項股市指數，及可在恒生資訊服務有限公司(「恒生資訊」)不時要求下，刊印、編製及計算該等額外股市指數(統稱「恒生指數」)。恒生指數各自之標記、名稱及編製及計算方法為恒生資訊之獨家財產及專利品。但指服務經巳以特許證之形式，允許期交所使用恒生指數及恒生指數同類分類指數、恒生香港中資企業指數及恒生中國企業指數，純為及有關於用作設立、推廣及買賣以該等指數為基準之期貨合約和期權合約及可不時允許期交所相應使用任何其他恒生指數用於有關以該等其他恒生指數為基準的期貨合約和期權合約(合稱「恒指期貨/期權合約」) 。編製及計算任何恒生指數之程序及基準及任何有關公式或各項公式、成份股及系數可在毋須通知之情況下由恒指服務不時作出變動或更改，而期交所可不時要求期交所可能指定之該指期貨/期權合約之買賣及結算參考一項或多項有待計算之替代指數進行。期交所或恒生資訊數據或但恒服務概無就恒生指數或任何恒生指數之正確性或完整性及其編製及計算或其他任何有關資料而給予任何交易所參與者或任何第三者保證或聲明或擔保，亦無就有關恒生指數或任何恒生指數作出或暗示任何該等保證或聲明或任何類型之擔保。此外，期交所、恒生資訊或恒指服務亦不會就有關恒指期貨/期權合約或任何恒指期貨/期權合約及/或買賣恒指期貨/期權合約而使用恒生指數或任何恒生指數，或恒指服務編製及計算恒生指數或任何恒生指數之任何不確、遺漏、錯誤、出錯、延誤、中斷、暫停、變動或不足(包括但不限於由於疏忽所引致之事宜)或任何交易所參與者或任何第三者買賣恒指期貨/期權合約或任何恒指期貨/期權合約而直接或間接導致之任何經濟或其他損失承擔任何責任或債務。任何交易所參與者或任何第三者概不得就本免責聲明所述有關或因而產生之事宜向期交所及/或恒生資訊及 /或恒指服務提出索償、法律行動或法律訴訟。任何買賣恒指期貨/期權合約之交易所參與者或任何第三者均完全明暸本免責聲明，並不會對期交所、恒生資訊及/或恒指服務作出任何依賴。 1. RISKS OF CLIENT ASSETS RECEIVED OR HELD OUTSIDE HONG KONG 在香港以外地方收取或持有的客戶資產的風險

Additional Risks Common to Futures and Options. 期貨和期權共有的額外風險 4.1 Terms and conditions of contracts 合約的條款和條件 The Client should ask the Company about the terms and conditions of the specific Futures/Options Contracts which the Client is trading and associated obligations (e.g. the circumstances under which the Client may become obliged to make or take delivery of the underlying interest of a Futures Contract and, in respect of Options Contracts, expiration dates and restrictions on the time for exercise). Under certain circumstances the specifications of outstanding contracts (including the exercise price of an Options Contract) may be modified by the Exchange, Futures Exchange or Clearing House to reflect changes in the underlying interest. 客戶須向本公司查詢有關客戶買賣特定期貨或期權之條款和條件及其相關義務（即，在何種情形下客戶有義務交付或接受交付期貨合約之有關權益，以及就期權而言，到期日期以及對行使時間的限制）。在某些情況下，未完成之合約的細節（包括期權之行使價）可由交易所或結算公司加以修訂，以便反映有關權益的變化。 4.2 Suspension or restriction of trading and pricing relationships 停市或限制買賣與定價關係 Market conditions (e.g. illiquidity) and/or the operation of the rules of certain markets (e.g. the suspension of trading in any contract or contract month because of price limits or "circuit breakers") may increase the risk of loss by making it difficult or impossible to effect transactions or liquidate/offset positions. If the Client has sold options, this may increase the risk of loss. 市場情況（如，無流通量）及或某些市場規例的運作（如，由於價格限制或「停板」造成任何合約或合約月暫停交易）可令客戶難以或不能執行交易或平倉沖銷持倉量。如果客戶已沽出期權，則可能增加虧蝕的風險。 Further, normal pricing relationships between the underlying interest and the Futures Contracts, and the underlying interest and the Options Contracts may not exist. This can occur when, for example, the Futures Contract underlying the Option Contract is subject to price limits while the Option Contract is not. The absence of an underlying reference price may make it difficult to judge "fair value". 而且，有關權益與期貨以及有關權益與期權之間可能不存在正常的定價關係。例如，當有關期權之期貨合約受價格限制而該期權本身卻不受限制時，往往會發生此情況。有關權益缺乏參考價格亦可令人難以判斷其 「公平」之價值而且，有關權益與期貨以及有關權益與期權之間可能不存在正常的定價關係。例如，當有關期權之期貨合約受價格限制而該期權本身卻不受限制時，往往會發生此情況。有關權益缺乏參考價格亦可令人難以判斷其「公平」之價值。 4.3 Deposited cash and property 存付現金和財產 The Client should familiarise himself with the protections given to money or other property the Client deposits for domestic and foreign transactions, particularly in the event of a firm insolvency or bankruptcy. The extent to which the Client may recover the Client's money or property may be governed by specific legislation or local rules. In some jurisdictions, property which had been specifically identifiable as the Client's own will be pro-rated in the same manner as cash for purposes of distribution in the event of a shortfall. 客戶必須熟悉客戶在境內或外國之交易中所存付的金錢或其他財產所能得到的保護，特別是有關商號無償債能力或破產時得到的保護。客戶取回該金錢或財產可能受特定的法律或當地條例制約。在一些司法管轄區，如出現虧額，被實際辨認為客戶所擁有之財產，亦可能像現金一樣被按比例分配。 4.4 Commission and other charges 佣金及其他收費 Before the Client begins to trade, the Client should obtain a clear explanation of all commission, fees and other charges for which the Client will be liable. These charges will affect the Client's net profit (if any) or increase the Client's loss. 在開始進行交易之前，客戶先要清楚瞭解其必須繳付之一切佣金、費用及其他收費。這些收費將影響客戶之淨利潤（如有）或增加其虧損。 4.5 Transactions in other jurisdictions 在其他司法管轄區交易 Transactions on markets in other jurisdictions, including markets formally linked to a domestic market, may expose the Client to additional risk. Such markets may be subject to regulation which may offer different or diminished investor protection. Before the Client trades the Client should enquire about any rules relevant to the Client's particular transactions. The Client's local regulatory authority will be unable to compel the enforcement of the rules of regulatory authorities or markets in other jurisdictions where the Client's transactions have been effected. The Client should ask the Company for details about the types of redress available in both the Client's home jurisdiction and other relevant jurisdictions before the Client starts to trade. 倘若客戶在其他管轄區的市場（包括與客戶國內市場正式連接的市場）進行交易，客戶可能須承擔額外的風險。該等市場可能須遵守對投資者提供不同或較少保護之規例。客戶進行交易之前，請查詢與客戶之具體交易有關之任何規則的詳情。客戶之本地監管機構將不能執行客戶進行交易之其他司法管轄區的監管機構或市場的規則。在開始交易之前，客戶應向本公司查詢有關客戶之本國管轄區及其他有關司法管轄區所提供之賠償補救種類的詳情。 4.6 Currency risks 貨幣風險 The profit or loss in transactions in foreign currency-denominated contracts (whether they are traded in the Client's own or another jurisdiction) will be affected by fluctuations in currency rates where there is a need to convert from the currency denomination of the contract to another currency. 當有必要把合約之貨幣單位折算為另一貨幣時，以外幣為計算單位之合約交易的利潤或虧損（不論是在客戶之本國或其他司法管轄區交易）將受匯率波動的影響。 4.7 Trading facilities Electronic trading facilities are supported by computer-based component systems for the order-routing, execution, matching, registration or clearing of trades. As with all facilities and systems, they are vulnerable to temporary disruption or failure. The Client's ability to recover certain losses may be subject to limits on liability imposed by the system provider, the market, the clearing house and/or the Company. Such limits may vary; the Client should ask the Company for details in this respect. 電子交易設施均以電腦組合系統進行落盤、執行、對盤、買賣登記或結算。如同其他所有設施系統一樣，該等設施易受暫時中斷或故障影響，客戶彌補若干損失的能力可能受到系統提供者、市場、結算公司及或其他參與公司對責任實施之限制的影響。該等限制各有不同，客戶應向本公司查詢有關詳情。 4.8 Off-exchange transactions In some jurisdictions, and only then in restricted circumstances, firms are permitted to effect off-exchange transactions. The firm with which the Client deal may be acting as the Client's counterparty to the transaction. It may be difficult or impossible to liquidate an existing position, to assess the value, to determine a fair price or to assess the exposure to risk. For these reasons, these transactions may involve increased risks. Off-exchange transactions may be less regulated or subject to a separate regulatory regime. Before the Client undertakes such transactions, the Client should familiarise himself with applicable rules and attendant risks. 在一些司法管轄區，及只有特定情況下，有關商號獲准進行場外交易。為客戶進行交易之商號可能是客戶所進行之買賣之交易對手。在這種情況下，有可能難以或根本無法平掉既有倉盤、評估價值、釐定公平價格又或評估風險。因此這些交易或會涉及更大的風險。此外，場外交易的監管或會較寬鬆，又或需遵照不同的監管制度。因此，客戶在進行該等交易前，應先瞭解適用之規例及有關之風險。 Stock indices and other proprietary products upon which contracts traded on the Futures Exchange may be based may from time to time be developed by the Futures Exchange. The HKFE Taiwan Index is the first of such stock indices developed by the Futures Exchange. The HKFE Taiwan Index and such other indices or proprietary products as may from time to time be developed by the Futures Exchange (the "HK Exchange Indices") are the property of the Futures Exchange. The process of compilation and computation of each of the HK Exchange Indices is and will be the exclusive property of and proprietary to the Futures Exchange. The process and basis of compilation and computation of the HK Exchange Indices may at any time be changed or altered by the Futures Exchange without notice and the Futures Exchange may at any time require that trading in and settlement of such futures or options contracts based on any of the HK Exchange Indices as the Futures Exchange may designate be conducted by reference to an alternative index to be calculated. The Futures Exchange does not warrant or represent or guarantee to any Exchange Participant or any third party the accuracy or completeness of any of the HK Exchange Indices or their compilation and computation or any information related thereto and no such warranty or representation or guarantee of any kind whatsoever relating to any of the HK Exchange Indices is given or may be implied. Further, no responsibility or liability whatsoever is accepted by the Futures Exchange in respect of the use of any of the HK Exchange Indices or for any inaccuracies, omissions, mistakes, errors, delays, interruption, suspensions, changes or failures (including but not limited to those resulting from negligence) of the Futures Exchange or any other person or persons appointed by the Futures Exchange to compile and compute any of the HK Exchange Indices in the compilation and computation of any of the HK Exchange Indices or for any economic or other losses which may be directly or indirectly sustained as a result thereof by any Exchange Participant or any third party dealing with futures and options contracts based on any of the HK Exchange Indices. No claims, actions or legal proceedings may be brought by any Exchange Participant or any third party against the Futures Exchange in connection with or arising out of matters referred to in this disclaimer. Any Exchange Participant or any third party engages in transactions in futures and options contracts based on any of the HK Exchange Indices in full knowledge of this disclaimer and can place no reliance on the Futures Exchange in respect of such transactions. 作為在期交所買賣合約基準之股份指數及其他專利產品可由期交所不時開發。期交所台灣指數為期交所開發之首個該等股份指數。期交所台灣指數及可由期交所不時開發之其他指數或專利產品(「香港交易所指數」)為期交所之財產。編製及計算各香港交易所指數之程序屬及將屬期交所之獨家財產及專利品。編製及計算香港交易所指數之程序及基準可在毋須通知之情況下由期交所隨時作出變動或更改，而期交所亦可隨時要求以期交所可能指定之任何香港 交易所指數為基準之該等期貨或期權合約在買賣及結算時參考一項有待計算之替代指數。期交所概無就任何香港交易所指數或其編製及計算或其任何有關資料之準確性或完整性而向任何交易所參與者或任何第三者作出保證或聲明或擔保，亦無就與任何香港交易所指數相關之任何事宜作出或暗示任何該等保證或聲明或任何類型之擔保。此外，期交所亦不會就任何香港交易所指數之使用或期交所或其委任以編製及計算任何香港交易所指數之任何一名或多名人士在編製及計算任何香港交易所指數時出現之任何不準確、遺漏、錯誤、出錯、延誤、中斷、暫停、變動或不足 (包括但不限於因疏忽所引致之事宜)或任何交易所參與者或任何第三者因買賣以任何香港交易所指數為基準之期貨及期權合約而直接或間接導致之任何經濟或其他損失承擔任何責任或債務。任何交易所參與者或任何第三者概不得就與本免責聲明所述有關或因而產生之事宜向期交所提出索償、法律行動或法律訴訟。任何參與以任何香港交易所指數為基準之期貨及期權合約之買賣的交易所參與者或任何第三者均完全明暸本免責聲明，並不會就該等交易而對期交所作出任何依賴。 恒生 100 期貨及期權免責聲明 HSI Services Limited ("HSI") currently publishes, compiles and computes a number of stock indices and may publish, compile and compute such additional stock indices at the request of Hang Seng Data Services Limited ("HSDS") from time to time (collectively, the "Hang Seng Indices"). The marks, names and processes of compilation and computation of the respective Hang Seng Indices are the exclusive property of and proprietary to HSDS. HSI has granted to the Futures Exchange by way of licence the use of the Hang Seng Index and the four Sub-indices of the Hang Seng Index, the Hang Seng China-Affiliated Corporations Index and the Hang Seng China Enterprises Index solely for the purposes of and in connection with the creation, marketing and trading of futures contracts and options contracts based on such indices respectively and may from time to time grant to the Futures Exchange corresponding use of any other Hang Seng Indices for the purposes of and in connection with futures contracts and options contracts based on such other Hang Seng Indices (collectively, "HSI Futures/Options Contracts"). The process and basis of compilation and computation of any of the Hang Seng Indices and any of the related formula or formulae, constituent stocks and factors may at any time be changed or altered by HSI without notice and the Futures Exchange may at any time require that trading in and settlement of such of the HSI Futures/Options Contracts as the Futures Exchange may designate be conducted by reference to an alternative index or alternative indices to be calculated. Neither the Futures Exchange nor HSDS nor HSI warrants or represents or guarantees to any Exchange Participant or any third party the accuracy or completeness of the Hang Seng Indices or any of them and the compilation and computation thereof or any information related thereto and no such warranty or representation or guarantee of any kind whatsoever relating to the Hang Seng Indices or any of them is given or may be implied. Further, no responsibility or liability whatsoever is accepted by the Futures Exchange, HSDS or HSI in respect of the use of the Hang Seng Indices or any of them for the purposes of and in connection with the HSI Futures/ Options Contracts or any of them and/or dealings therein, or for any inaccuracies, omissions, mistakes, errors, delays, interruptions, suspension, changes or failures (including but not limited to those resulting from negligence) of HSI in the compilation and computation of the Hang Seng Indices or any of them or for any economic or other losses which may be directly or indirectly sustained as a result thereof by any Exchange Participant or any third party dealing with the HSI Futures/Options Contracts or any of them. No claims, actions or legal proceedings may be brought by any Exchange Participant or any third party against the Futures Exchange and/or HSDS and/or HSI in connection with or arising out of matters referred to in this disclaimer. Any Exchange Participant or any third party deals in the HSI Futures/Options Contracts or any of them in full knowledge of this disclaimer and can place no reliance whatsoever on the Futures Exchange, HSDS and/or HSL. 恒指服務有限公司(「恒指服務」)現時刊印、編製及計算多項股市指數，及可在恒生資訊服務有限公司(「恒生資訊」)不時要求下，刊印、編製及計算該等額外股市指數(統稱「恒生指數」)。恒生指數各自之標記、名稱及編製及計算方法為恒生資訊之獨家財產及專利品。但指服務經巳以特許證之形式，允許期交所使用恒生指數及恒生指數同類分類指數、恒生香港中資企業指數及恒生中國企業指數，純為及有關於用作設立、推廣及買賣以該等指數為基準之期貨合約和期權合約及可不時允許期交所相應使用任何其他恒生指數用於有關以該等其他恒生指數為基準的期貨合約和期權合約(合稱「恒指期貨/期權合約」) 。編製及計算任何恒生指數之程序及基準及任何有關公式或各項公式、成份股及系數可在毋須通知之情況下由恒指服務不時作出變動或更改，而期交所可不時要求期交所可能指定之該指期貨/期權合約之買賣及結算參考一項或多項有待計算之替代指數進行。期交所或恒生資訊數據或但恒服務概無就恒生指數或任何恒生指數之正確性或完整性及其編製及計算或其他任何有關資料而給予任何交易所參與者或任何第三者保證或聲明或擔保，亦無就有關恒生指數或任何恒生指數作出或暗示任何該等保證或聲明或任何類型之擔保。此外，期交所、恒生資訊或恒指服務亦不會就有關恒指期貨/期權合約或任何恒指期貨/期權合約及/或買賣恒指期貨/期權合約而使用恒生指數或任何恒生指數，或恒指服務編製及計算恒生指數或任何恒生指數之任何不確、遺漏、錯誤、出錯、延誤、中斷、暫停、變動或不足(包括但不限於由於疏忽所引致之事宜)或任何交易所參與者或任何第三者買賣恒指期貨/期權合約或任何恒指期貨/期權合約而直接或間接導致之任何經濟或其他損失承擔任何責任或債務。任何交易所參與者或任何第三者概不得就本免責聲明所述有關或因而產生之事宜向期交所及/或恒生資訊及 /或恒指服務提出索償、法律行動或法律訴訟。任何買賣恒指期貨/期權合約之交易所參與者或任何第三者均完全明暸本免責聲明，並不會對期交所、恒生資訊及/或恒指服務作出任何依賴。 1. RISKS OF CLIENT ASSETS RECEIVED OR HELD OUTSIDE HONG KONG 在香港以外地方收取或持有的客戶資產的風險

Additional Risks Common to Futures and Options. 期貨和期權共有的額外風險 4.1 Terms and conditions of contracts 合約的條款和條件 The Client should ask the Company about the terms and conditions of the specific Futures/Options Contracts which the Client is trading and associated obligations (e.g. the circumstances under which the Client may become obliged to make or take delivery of the underlying interest of a Futures Contract and, in respect of Options Contracts, expiration dates and restrictions on the time for exercise). Under certain circumstances the specifications of outstanding contracts (including the exercise price of an Options Contract) may be modified by the Exchange, Futures Exchange or Clearing House to reflect changes in the underlying interest. 客戶須向本公司查詢有關客戶買賣特定期貨或期權之條款和條件及其相關義務（即，在何種情形下客戶有義務交付或接受交付期貨合約之有關權益，以及就期權而言，到期日期以及對行使時間的限制）。在某些情況下，未完成之合約的細節（包括期權之行使價）可由交易所或結算公司加以修訂，以便反映有關權益的變化。 4.2 Suspension or restriction of trading and pricing relationships 停市或限制買賣與定價關係 Market conditions (e.g. illiquidity) and/or the operation of the rules of certain markets (e.g. the suspension of trading in any contract or contract month because of price limits or "circuit breakers") may increase the risk of loss by making it difficult or impossible to effect transactions or liquidate/offset positions. If the Client has sold options, this may increase the risk of loss. 市場情況（如，無流通量）及或某些市場規例的運作（如，由於價格限制或「停板」造成任何合約或合約月暫停交易）可令客戶難以或不能執行交易或平倉沖銷持倉量。如果客戶已沽出期權，則可能增加虧蝕的風險。 Further, normal pricing relationships between the underlying interest and the Futures Contracts, and the underlying interest and the Options Contracts may not exist. This can occur when, for example, the Futures Contract underlying the Option Contract is subject to price limits while the Option Contract is not. The absence of an underlying reference price may make it difficult to judge "fair value". 而且，有關權益與期貨以及有關權益與期權之間可能不存在正常的定價關係。例如，當有關期權之期貨合約受價格限制而該期權本身卻不受限制時，往往會發生此情況。有關權益缺乏參考價格亦可令人難以判斷其 「公平」之價值。 4.3 Deposited cash and property 存付現金和財產 The Client should familiarise himself with the protections given to money or other property the Client deposits for domestic and foreign transactions, particularly in the event of a firm insolvency or bankruptcy. The extent to which the Client may recover the Client's money or property may be governed by specific legislation or local rules. In some jurisdictions, property which had been specifically identifiable as the Client's own will be pro-rated in the same manner as cash for purposes of distribution in the event of a shortfall. 客戶必須熟悉客戶在境內或外國之交易中所存付的金錢或其他財產所能得到的保護，特別是有關商號無償債能力或破產時得到的保護。客戶取回該金錢或財產可能受特定的法律或當地條例制約。在一些司法管轄區，如出現虧額，被實際辨認為客戶所擁有之財產，亦可能像現金一樣被按比例分配。 4.4 Commission and other charges 佣金及其他收費 Before the Client begins to trade, the Client should obtain a clear explanation of all commission, fees and other charges for which the Client will be liable. These charges will affect the Client's net profit (if any) or increase the Client's loss. 在開始進行交易之前，客戶先要清楚瞭解其必須繳付之一切佣金、費用及其他收費。這些收費將影響客戶之淨利潤（如有）或增加其虧損。 4.5 Transactions in other jurisdictions 在其他司法管轄區交易 Transactions on markets in other jurisdictions, including markets formally linked to a domestic market, may expose the Client to additional risk. Such markets may be subject to regulation which may offer different or diminished investor protection. Before the Client trades the Client should enquire about any rules relevant to the Client's particular transactions. The Client's local regulatory authority will be unable to compel the enforcement of the rules of regulatory authorities or markets in other jurisdictions where the Client's transactions have been effected. The Client should ask the Company for details about the types of redress available in both the Client's home jurisdiction and other relevant jurisdictions before the Client starts to trade. 倘若客戶在其他管轄區的市場（包括與客戶國內市場正式連接的市場）進行交易，客戶可能須承擔額外的風險。該等市場可能須遵守對投資者提供不同或較少保護之規例。客戶進行交易之前，請查詢與客戶之具體交易有關之任何規則的詳情。客戶之本地監管機構將不能執行客戶進行交易之其他司法管轄區的監管機構或市場的規則。在開始交易之前，客戶應向本公司查詢有關客戶之本國管轄區及其他有關司法管轄區所提供之賠償補救種類的詳情。 4.6 Currency risks 貨幣風險 The profit or loss in transactions in foreign currency-denominated contracts (whether they are traded in the Client's own or another jurisdiction) will be affected by fluctuations in currency rates where there is a need to convert from the currency denomination of the contract to another currency. 當有必要把合約之貨幣單位折算為另一貨幣時，以外幣為計算單位之合約交易的利潤或虧損（不論是在客戶之本國或其他司法管轄區交易）將受匯率波動的影響。 4.7 Trading facilities Electronic trading facilities are supported by computer-based component systems for the order-routing, execution, matching, registration or clearing of trades. As with all facilities and systems, they are vulnerable to temporary disruption or failure. The Client's ability to recover certain losses may be subject to limits on liability imposed by the system provider, the market, the clearing house and/or the Company. Such limits may vary; the Client should ask the Company for details in this respect. 電子交易設施均以電腦組合系統進行落盤、執行、對盤、買賣登記或結算。如同其他所有設施系統一樣，該等設施易受暫時中斷或故障影響，客戶彌補若干損失的能力可能受到系統提供者、市場、結算公司及或其他參與公司對責任實施之限制的影響。該等限制各有不同，客戶應向本公司查詢有關詳情。 4.8 Off-exchange transactions In some jurisdictions, and only then in restricted circumstances, firms are permitted to effect off-exchange transactions. The firm with which the Client deal may be acting as the Client's counterparty to the transaction. It may be difficult or impossible to liquidate an existing position, to assess the value, to determine a fair price or to assess the exposure to risk. For these reasons, these transactions may involve increased risks. Off-exchange transactions may be less regulated or subject to a separate regulatory regime. Before the Client undertakes such transactions, the Client should familiarise himself with applicable rules and attendant risks. 在一些司法管轄區，及只有特定情況下，有關商號獲准進行場外交易。為客戶進行交易之商號可能是客戶所進行之買賣之交易對手。在這種情況下，有可能難以或根本無法平掉既有倉盤、評估價值、釐定公平價格又或評估風險。因此這些交易或會涉及更大的風險。此外，場外交易的監管或會較寬鬆，又或需遵照不同的監管制度。因此，客戶在進行該等交易前，應先瞭解適用之規例及有關之風險。 Stock indices and other proprietary products upon which contracts traded on the Futures Exchange may be based may from time to time be developed by the Futures Exchange. The HKFE Taiwan Index is the first of such stock indices developed by the Futures Exchange. The HKFE Taiwan Index and such other indices or proprietary products as may from time to time be developed by the Futures Exchange (the "HK Exchange Indices") are the property of the Futures Exchange. The process of compilation and computation of each of the HK Exchange Indices is and will be the exclusive property of and proprietary to the Futures Exchange. The process and basis of compilation and computation of the HK Exchange Indices may at any time be changed or altered by the Futures Exchange without notice and the Futures Exchange may at any time require that trading in and settlement of such futures or options contracts based on any of the HK Exchange Indices as the Futures Exchange may designate be conducted by reference to an alternative index to be calculated. The Futures Exchange does not warrant or represent or guarantee to any Exchange Participant or any third party the accuracy or completeness of any of the HK Exchange Indices or their compilation and computation or any information related thereto and no such warranty or representation or guarantee of any kind whatsoever relating to any of the HK Exchange Indices is given or may be implied. Further, no responsibility or liability whatsoever is accepted by the Futures Exchange in respect of the use of any of the HK Exchange Indices or for any inaccuracies, omissions, mistakes, errors, delays, interruption, suspensions, changes or failures (including but not limited to those resulting from negligence) of the Futures Exchange or any other person or persons appointed by the Futures Exchange to compile and compute any of the HK Exchange Indices in the compilation and computation of any of the HK Exchange Indices or for any economic or other losses which may be directly or indirectly sustained as a result thereof by any Exchange Participant or any third party dealing with futures and options contracts based on any of the HK Exchange Indices. No claims, actions or legal proceedings may be brought by any Exchange Participant or any third party against the Futures Exchange in connection with or arising out of matters referred to in this disclaimer. Any Exchange Participant or any third party engages in transactions in futures and options contracts based on any of the HK Exchange Indices in full knowledge of this disclaimer and can place no reliance on the Futures Exchange in respect of such transactions. 作為在期交所買賣合約基準之股份指數及其他專利產品可由期交所不時開發。期交所台灣指數為期交所開發之首個該等股份指數。期交所台灣指數及可由期交所不時開發之其他指數或專利產品(「香港交易所指數」)為期交所之財產。編製及計算各香港交易所指數之程序屬及將屬期交所之獨家財產及專利品。編製及計算香港交易所指數之程序及基準可在毋須通知之情況下由期交所隨時作出變動或更改，而期交所亦可隨時要求以期交所可能指定之任何香港 交易所指數為基準之該等期貨或期權合約在買賣及結算時參考一項有待計算之替代指數。期交所概無就任何香港交易所指數或其編製及計算或其任何有關資料之準確性或完整性而向任何交易所參與者或任何第三者作出保證或聲明或擔保，亦無就與任何香港交易所指數相關之任何事宜作出或暗示任何該等保證或聲明或任何類型之擔保。此外，期交所亦不會就任何香港交易所指數之使用或期交所或其委任以編製及計算任何香港交易所指數之任何一名或多名人士在編製及計算任何香港交易所指數時出現之任何不準確、遺漏、錯誤、出錯、延誤、中斷、暫停、變動或不足 (包括但不限於因疏忽所引致之事宜)或任何交易所參與者或任何第三者因買賣以任何香港交易所指數為基準之期貨及期權合約而直接或間接導致之任何經濟或其他損失承擔任何責任或債務。任何交易所參與者或任何第三者概不得就與本免責聲明所述有關或因而產生之事宜向期交所提出索償、法律行動或法律訴訟。任何參與以任何香港交易所指數為基準之期貨及期權合約之買賣的交易所參與者或任何第三者均完全明暸本免責聲明，並不會就該等交易而對期交所作出任何依賴。 恒生 100 期貨及期權免責聲明 HSI Services Limited ("HSI") currently publishes, compiles and computes a number of stock indices and may publish, compile and compute such additional stock indices at the request of Hang Seng Data Services Limited ("HSDS") from time to time (collectively, the "Hang Seng Indices"). The marks, names and processes of compilation and computation of the respective Hang Seng Indices are the exclusive property of and proprietary to HSDS. HSI has granted to the Futures Exchange by way of licence license the use of the Hang Seng Index and the four Sub-indices of the Hang Seng Index, the Hang Seng China-Affiliated Corporations Index and the Hang Seng China Enterprises Index solely for the purposes of and in connection with the creation, marketing and trading of futures contracts and options contracts based on such indices respectively and may from time to time grant to the Futures Exchange corresponding use of any other Hang Seng Indices for the purposes of and in connection with futures contracts and options contracts based on such other Hang Seng Indices (collectively, "HSI Futures/Options Contracts"). The process and basis of compilation and computation of any of the Hang Seng Indices and any of the related formula or formulae, constituent stocks and factors may at any time be changed or altered by HSI without notice and the Futures Exchange may at any time require that trading in and settlement of such of the HSI Futures/Options Contracts as the Futures Exchange may designate be conducted by reference to an alternative index or alternative indices to be calculated. Neither the Futures Exchange nor HSDS nor HSI warrants or represents or guarantees to any Exchange Participant or any third party the accuracy or completeness of the Hang Seng Indices or any of them and the compilation and computation thereof or any information related thereto and no such warranty or representation or guarantee of any kind whatsoever relating to the Hang Seng Indices or any of them is given or may be implied. Further, no responsibility or liability whatsoever is accepted by the Futures Exchange, HSDS or HSI in respect of the use of the Hang Seng Indices or any of them for the purposes of and in connection with the HSI Futures/ Options Contracts or any of them and/or dealings therein, or for any inaccuracies, omissions, mistakes, errors, delays, interruptions, suspension, changes or failures (including but not limited to those resulting from negligence) of HSI in the compilation and computation of the Hang Seng Indices or any of them or for any economic or other losses which may be directly or indirectly sustained as a result thereof by any Exchange Participant or any third party dealing with the HSI Futures/Options Contracts or any of them. No claims, actions or legal proceedings may be brought by any Exchange Participant or any third party against the Futures Exchange and/or HSDS and/or HSI in connection with or arising out of matters referred to in this disclaimer. Any Exchange Participant or any third party deals in the HSI Futures/Options Contracts or any of them in full knowledge of this disclaimer and can place no reliance whatsoever on the Futures Exchange, HSDS and/or HSL. 恒指服務有限公司(「恒指服務」)現時刊印、編製及計算多項股市指數，及可在恒生資訊服務有限公司(「恒生資訊」)不時要求下，刊印、編製及計算該等額外股市指數(統稱「恒生指數」)。恒生指數各自之標記、名稱及編製及計算方法為恒生資訊之獨家財產及專利品。但指服務經巳以特許證之形式，允許期交所使用恒生指數及恒生指數同類分類指數、恒生香港中資企業指數及恒生中國企業指數，純為及有關於用作設立、推廣及買賣以該等指數為基準之期貨合約和期權合約及可不時允許期交所相應使用任何其他恒生指數用於有關以該等其他恒生指數為基準的期貨合約和期權合約(合稱「恒指期貨/期權合約」) 。編製及計算任何恒生指數之程序及基準及任何有關公式或各項公式、成份股及系數可在毋須通知之情況下由恒指服務不時作出變動或更改，而期交所可不時要求期交所可能指定之該指期貨/期權合約之買賣及結算參考一項或多項有待計算之替代指數進行。期交所或恒生資訊數據或但恒服務概無就恒生指數或任何恒生指數之正確性或完整性及其編製及計算或其他任何有關資料而給予任何交易所參與者或任何第三者保證或聲明或擔保，亦無就有關恒生指數或任何恒生指數作出或暗示任何該等保證或聲明或任何類型之擔保。此外，期交所、恒生資訊或恒指服務亦不會就有關恒指期貨/期權合約或任何恒指期貨/期權合約及/或買賣恒指期貨/期權合約而使用恒生指數或任何恒生指數，或恒指服務編製及計算恒生指數或任何恒生指數之任何不確、遺漏、錯誤、出錯、延誤、中斷、暫停、變動或不足(包括但不限於由於疏忽所引致之事宜)或任何交易所參與者或任何第三者買賣恒指期貨/期權合約或任何恒指期貨/期權合約而直接或間接導致之任何經濟或其他損失承擔任何責任或債務。任何交易所參與者或任何第三者概不得就本免責聲明所述有關或因而產生之事宜向期交所及/或恒生資訊及 /或恒指服務提出索償、法律行動或法律訴訟。任何買賣恒指期貨或恒生資訊及/期權合約之交易所參與者或任何第三者均完全明暸本免責聲明，並不會對期交所、恒生資訊及或恒指服務提出索償、法律行動或法律訴訟。任何買賣恒指期貨/期權合約之交易所參與者或任何第三者均完全明暸本免責聲明 ，並不會對期交所、恒生資訊及/或恒指服務作出任何依賴。 1. RISKS OF CLIENT ASSETS RECEIVED OR HELD OUTSIDE HONG KONG 在香港以外地方收取或持有的客戶資產的風險

Additional Risks Common to Futures and Options. 期貨和期權共有的額外風險 4.1 Terms and conditions of contracts 合約的條款和條件 The Client should ask the Company about the terms and conditions of the specific Futures/Options Contracts which the Client is trading and associated obligations (e.g. the circumstances under which the Client may become obliged to make or take delivery of the underlying interest of a Futures Contract and, in respect of Options Contracts, expiration dates and restrictions on the time for exercise). Under certain circumstances the specifications of outstanding contracts (including the exercise price of an Options Contract) may be modified by the Exchange, Futures Exchange or Clearing House to reflect changes in the underlying interest. 客戶須向本公司查詢有關客戶買賣特定期貨或期權之條款和條件及其相關義務（即，在何種情形下客戶有義務交付或接受交付期貨合約之有關權益，以及就期權而言，到期日期以及對行使時間的限制）。在某些情況下，未完成之合約的細節（包括期權之行使價）可由交易所或結算公司加以修訂，以便反映有關權益的變化。 4.2 Suspension or restriction of trading and pricing relationships 停市或限制買賣與定價關係 Market conditions (e.g. illiquidity) and/or the operation of the rules of certain markets (e.g. the suspension of trading in any contract or contract month because of price limits or "circuit breakers") may increase the risk of loss by making it difficult or impossible to effect transactions or liquidate/offset positions. If the Client has sold options, this may increase the risk of loss. 市場情況（如，無流通量）及或某些市場規例的運作（如，由於價格限制或「停板」造成任何合約或合約月暫停交易）可令客戶難以或不能執行交易或平倉沖銷持倉量。如果客戶已沽出期權，則可能增加虧蝕的風險。 Further, normal pricing relationships between the underlying interest and the Futures Contracts, and the underlying interest and the Options Contracts may not exist. This can occur when, for example, the Futures Contract underlying the Option Contract is subject to price limits while the Option Contract is not. The absence of an underlying reference price may make it difficult to judge "fair value". 而且，有關權益與期貨以及有關權益與期權之間可能不存在正常的定價關係。例如，當有關期權之期貨合約受價格限制而該期權本身卻不受限制時，往往會發生此情況。有關權益缺乏參考價格亦可令人難以判斷其 「公平」之價值。 4.3 Deposited cash and property 存付現金和財產 The Client should familiarise himself with the protections given to money or other property the Client deposits for domestic and foreign transactions, particularly in the event of a firm insolvency or bankruptcy. The extent to which the Client may recover the Client's money or property may be governed by specific legislation or local rules. In some jurisdictions, property which had been specifically identifiable as the Client's own will be pro-rated in the same manner as cash for purposes of distribution in the event of a shortfall. 客戶必須熟悉客戶在境內或外國之交易中所存付的金錢或其他財產所能得到的保護，特別是有關商號無償債能力或破產時得到的保護。客戶取回該金錢或財產可能受特定的法律或當地條例制約。在一些司法管轄區，如出現虧額，被實際辨認為客戶所擁有之財產，亦可能像現金一樣被按比例分配。 4.4 Commission and other charges 佣金及其他收費 Before the Client begins to trade, the Client should obtain a clear explanation of all commission, fees and other charges for which the Client will be liable. These charges will affect the Client's net profit (if any) or increase the Client's loss. 在開始進行交易之前，客戶先要清楚瞭解其必須繳付之一切佣金、費用及其他收費。這些收費將影響客戶之淨利潤（如有）或增加其虧損。 4.5 Transactions in other jurisdictions 在其他司法管轄區交易 Transactions on markets in other jurisdictions, including markets formally linked to a domestic market, may expose the Client to additional risk. Such markets may be subject to regulation which may offer different or diminished investor protection. Before the Client trades the Client should enquire about any rules relevant to the Client's particular transactions. The Client's local regulatory authority will be unable to compel the enforcement of the rules of regulatory authorities or markets in other jurisdictions where the Client's transactions have been effected. The Client should ask the Company for details about the types of redress available in both the Client's home jurisdiction and other relevant jurisdictions before the Client starts to trade. 倘若客戶在其他管轄區的市場（包括與客戶國內市場正式連接的市場）進行交易，客戶可能須承擔額外的風險。該等市場可能須遵守對投資者提供不同或較少保護之規例。客戶進行交易之前，請查詢與客戶之具體交易有關之任何規則的詳情。客戶之本地監管機構將不能執行客戶進行交易之其他司法管轄區的監管機構或市場的規則。在開始交易之前，客戶應向本公司查詢有關客戶之本國管轄區及其他有關司法管轄區所提供之賠償補救種類的詳情倘若客戶在其他管轄區的市場（包括與客戶國內市場正式連接的市場）進行交易，客戶可能須承擔額外的風險。該等市場可能須遵守對投資者提供不同或較少保護之規例。客戶進行交易之前，請查詢與客戶之具體交易有關之任何規則的詳情。客戶之本地監管機構將不能執行客戶進行交易之其他司法管轄區的監管機構或市 場的規則。在開始交易之前，客戶應向本公司查詢有關客戶之本國管轄區及其他有關司法管轄區所提供之賠償補救種類的詳情。 4.6 Currency risks 貨幣風險 The profit or loss in transactions in foreign currency-denominated contracts (whether they are traded in the Client's own or another jurisdiction) will be affected by fluctuations in currency rates where there is a need to convert from the currency denomination of the contract to another currency. 當有必要把合約之貨幣單位折算為另一貨幣時，以外幣為計算單位之合約交易的利潤或虧損（不論是在客戶之本國或其他司法管轄區交易）將受匯率波動的影響。 4.7 Trading facilities Electronic trading facilities are supported by computer-based component systems for the order-routing, execution, matching, registration or clearing of trades. As with all facilities and systems, they are vulnerable to temporary disruption or failure. The Client's ability to recover certain losses may be subject to limits on liability imposed by the system provider, the market, the clearing house and/or the Company. Such limits may vary; the Client should ask the Company for details in this respect. 電子交易設施均以電腦組合系統進行落盤、執行、對盤、買賣登記或結算。如同其他所有設施系統一樣，該等設施易受暫時中斷或故障影響，客戶彌補若干損失的能力可能受到系統提供者、市場、結算公司及或其他參與公司對責任實施之限制的影響。該等限制各有不同，客戶應向本公司查詢有關詳情。 4.8 Off-exchange transactions In some jurisdictions, and only then in restricted circumstances, firms are permitted to effect off-exchange transactions. The firm with which the Client deal may be acting as the Client's counterparty to the transaction. It may be difficult or impossible to liquidate an existing position, to assess the value, to determine a fair price or to assess the exposure to risk. For these reasons, these transactions may involve increased risks. Off-exchange transactions may be less regulated or subject to a separate regulatory regime. Before the Client undertakes such transactions, the Client should familiarise himself with applicable rules and attendant risks. 在一些司法管轄區，及只有特定情況下，有關商號獲准進行場外交易。為客戶進行交易之商號可能是客戶所進行之買賣之交易對手。在這種情況下，有可能難以或根本無法平掉既有倉盤、評估價值、釐定公平價格又或評估風險。因此這些交易或會涉及更大的風險。此外，場外交易的監管或會較寬鬆，又或需遵照不同的監管制度。因此，客戶在進行該等交易前，應先瞭解適用之規例及有關之風險。 Stock indices and other proprietary products upon which contracts traded on the Futures Exchange may be based may from time to time be developed by the Futures Exchange. The HKFE Taiwan Index is the first of such stock indices developed by the Futures Exchange. The HKFE Taiwan Index and such other indices or proprietary products as may from time to time be developed by the Futures Exchange (the "HK Exchange Indices") are the property of the Futures Exchange. The process of compilation and computation of each of the HK Exchange Indices is and will be the exclusive property of and proprietary to the Futures Exchange. The process and basis of compilation and computation of the HK Exchange Indices may at any time be changed or altered by the Futures Exchange without notice and the Futures Exchange may at any time require that trading in and settlement of such futures or options contracts based on any of the HK Exchange Indices as the Futures Exchange may designate be conducted by reference to an alternative index to be calculated. The Futures Exchange does not warrant or represent or guarantee to any Exchange Participant or any third party the accuracy or completeness of any of the HK Exchange Indices or their compilation and computation or any information related thereto and no such warranty or representation or guarantee of any kind whatsoever relating to any of the HK Exchange Indices is given or may be implied. Further, no responsibility or liability whatsoever is accepted by the Futures Exchange in respect of the use of any of the HK Exchange Indices or for any inaccuracies, omissions, mistakes, errors, delays, interruption, suspensions, changes or failures (including but not limited to those resulting from negligence) of the Futures Exchange or any other person or persons appointed by the Futures Exchange to compile and compute any of the HK Exchange Indices in the compilation and computation of any of the HK Exchange Indices or for any economic or other losses which may be directly or indirectly sustained as a result thereof by any Exchange Participant or any third party dealing with futures and options contracts based on any of the HK Exchange Indices. No claims, actions or legal proceedings may be brought by any Exchange Participant or any third party against the Futures Exchange in connection with or arising out of matters referred to in this disclaimer. Any Exchange Participant or any third party engages in transactions in futures and options contracts based on any of the HK Exchange Indices in full knowledge of this disclaimer and can place no reliance on the Futures Exchange in respect of such transactions. 作為在期交所買賣合約基準之股份指數及其他專利產品可由期交所不時開發。期交所台灣指數為期交所開發之首個該等股份指數。期交所台灣指數及可由期交所不時開發之其他指數或專利產品(「香港交易所指數」)為期交所之財產。編製及計算各香港交易所指數之程序屬及將屬期交所之獨家財產及專利品。編製及計算香港交易所指數之程序及基準可在毋須通知之情況下由期交所隨時作出變動或更改，而期交所亦可隨時要求以期交所可能指定之任何香港 交易所指數為基準之該等期貨或期權合約在買賣及結算時參考一項有待計算之替代指數。期交所概無就任何香港交易所指數或其編製及計算或其任何有關資料之準確性或完整性而向任何交易所參與者或任何第三者作出保證或聲明或擔保，亦無就與任何香港交易所指數相關之任何事宜作出或暗示任何該等保證或聲明或任何類型之擔保。此外，期交所亦不會就任何香港交易所指數之使用或期交所或其委任以編製及計算任何香港交易所指數之任何一名或多名人士在編製及計算任何香港交易所指數時出現之任何不準確、遺漏、錯誤、出錯、延誤、中斷、暫停、變動或不足 作為在期交所買賣合約基準之股份指數及其他專利產品可由期交所不時開發。期交所台灣指數為期交所開發之首個該等股份指數。期交所台灣指數及可由期交所不時開發之其他指數或專利產品(「香港交易所指數」)為期交所之財產。編製及計算各香港交易所指數之程序屬及將屬期交所之獨家財產及專利品。編製及計算香港交易所指數之程序及基準可在毋須通知之情況下由期交所隨時作出變動或更改，而期交所亦可隨時要求以期交所可能指定之任何香港交易所指數為基準之該等期貨或期權合約在買賣及結算時參考一項有待計算之替代指數。期交所概無就任何香港交易所指數或其編製及計算或其任何有關資料之準確性或完整性而向任何交易所參與者或任何第三者作出保證或聲明或擔保，亦無就與任何香港交易所指數相關之任何事宜作出或暗示任何該等保證或聲明或任何類型之擔保。此外，期交所亦不會就任何香港交易所指數之使用或期交所或其委任以編製及計算任何香港交易所指數之任何一名或多名人士在編製及計算任何香港交易所指數時出現之任何不準確、遺漏、錯誤、出錯、延誤、中斷、暫停、變動或不足 (包括但不限於因疏忽所引致之事宜)或任何交易所參與者或任何第三者因買賣以任何香港交易所指數為基準之期貨及期權合約而直接或間接導致之任何經濟或其他損失承擔任何責任或債務。任何交易所參與者或任何第三者概不得就與本免責聲明所述有關或因而產生之事宜向期交所提出索償、法律行動或法律訴訟。任何參與以任何香港交易所指數為基準之期貨及期權合約之買賣的交易所參與者或任何第三者均完全明暸本免責聲明，並不會就該等交易而對期交所作出任何依賴。 恒生 100 期貨及期權免責聲明 HSI Services Limited ("HSI") currently publishes, compiles and computes a number of stock indices and may publish, compile and compute such additional stock indices at the request of Hang Seng Data Services Limited ("HSDS") from time to time (collectively, the "Hang Seng Indices"). The marks, names and processes of compilation and computation of the respective Hang Seng Indices are the exclusive property of and proprietary to HSDS. HSI has granted to the Futures Exchange by way of licence the use of the Hang Seng Index and the four Sub-indices of the Hang Seng Index, the Hang Seng China-Affiliated Corporations Index and the Hang Seng China Enterprises Index solely for the purposes of and in connection with the creation, marketing and trading of futures contracts and options contracts based on such indices respectively and may from time to time grant to the Futures Exchange corresponding use of any other Hang Seng Indices for the purposes of and in connection with futures contracts and options contracts based on such other Hang Seng Indices (collectively, "HSI Futures/Options Contracts"). The process and basis of compilation and computation of any of the Hang Seng Indices and any of the related formula or formulae, constituent stocks and factors may at any time be changed or altered by HSI without notice and the Futures Exchange may at any time require that trading in and settlement of such of the HSI Futures/Options Contracts as the Futures Exchange may designate be conducted by reference to an alternative index or alternative indices to be calculated. Neither the Futures Exchange nor HSDS nor HSI warrants or represents or guarantees to any Exchange Participant or any third party the accuracy or completeness of the Hang Seng Indices or any of them and the compilation and computation thereof or any information related thereto and no such warranty or representation or guarantee of any kind whatsoever relating to the Hang Seng Indices or any of them is given or may be implied. Further, no responsibility or liability whatsoever is accepted by the Futures Exchange, HSDS or HSI in respect of the use of the Hang Seng Indices or any of them for the purposes of and in connection with the HSI Futures/ Options Contracts or any of them and/or dealings therein, or for any inaccuracies, omissions, mistakes, errors, delays, interruptions, suspension, changes or failures (including but not limited to those resulting from negligence) of HSI in the compilation and computation of the Hang Seng Indices or any of them or for any economic or other losses which may be directly or indirectly sustained as a result thereof by any Exchange Participant or any third party dealing with the HSI Futures/Options Contracts or any of them. No claims, actions or legal proceedings may be brought by any Exchange Participant or any third party against the Futures Exchange and/or HSDS and/or HSI in connection with or arising out of matters referred to in this disclaimer. Any Exchange Participant or any third party deals in the HSI Futures/Options Contracts or any of them in full knowledge of this disclaimer and can place no reliance whatsoever on the Futures Exchange, HSDS and/or HSL. 恒指服務有限公司(「恒指服務」)現時刊印、編製及計算多項股市指數，及可在恒生資訊服務有限公司(「恒生資訊」)不時要求下，刊印、編製及計算該等額外股市指數(統稱「恒生指數」)。恒生指數各自之標記、名稱及編製及計算方法為恒生資訊之獨家財產及專利品。但指服務經巳以特許證之形式，允許期交所使用恒生指數及恒生指數同類分類指數、恒生香港中資企業指數及恒生中國企業指數，純為及有關於用作設立、推廣及買賣以該等指數為基準之期貨合約和期權合約及可不時允許期交所相應使用任何其他恒生指數用於有關以該等其他恒生指數為基準的期貨合約和期權合約(合稱「恒指期貨/期權合約」) 。編製及計算任何恒生指數之程序及基準及任何有關公式或各項公式、成份股及系數可在毋須通知之情況下由恒指服務不時作出變動或更改，而期交所可不時要求期交所可能指定之該指期貨/期權合約之買賣及結算參考一項或多項有待計算之替代指數進行。期交所或恒生資訊數據或但恒服務概無就恒生指數或任何恒生指數之正確性或完整性及其編製及計算或其他任何有關資料而給予任何交易所參與者或任何第三者保證或聲明或擔保，亦無就有關恒生指數或任何恒生指數作出或暗示任何該等保證或聲明或任何類型之擔保。此外，期交所、恒生資訊或恒指服務亦不會就有關恒指期貨/期權合約或任何恒指期貨/期權合約及/或買賣恒指期貨/期權合約而使用恒生指數或任何恒生指數，或恒指服務編製及計算恒生指數或任何恒生指數之任何不確、遺漏、錯誤、出錯、延誤、中斷、暫停、變動或不足(包括但不限於由於疏忽所引致之事宜)或任何交易所參與者或任何第三者買賣恒指期貨/期權合約或任何恒指期貨/期權合約而直接或間接導致之任何經濟或其他損失承擔任何責任或債務。任何交易所參與者或任何第三者概不得就本免責聲明所述有關或因而產生之事宜向期交所及期權合約而直接或間接導致之任何經濟或其他損失承擔任何責任 或債務。任何交易所參與者或任何第三者概不得就本免責聲明所述有關或因而產生之事宜向期交所及/或恒生資訊及 /或恒指服務提出索償、法律行動或法律訴訟。任何買賣恒指期貨/期權合約之交易所參與者或任何第三者均完全明暸本免責聲明，並不會對期交所、恒生資訊及/或恒指服務作出任何依賴。 1. RISKS OF CLIENT ASSETS RECEIVED OR HELD OUTSIDE HONG KONG 在香港以外地方收取或持有的客戶資產的風險