Clearance Agreement. (1) I understand that Company does not handle cash and does not directly execute trades. All money and securities in My account are held by Apex and all trades for Me are executed by Apex at the instruction of Company. I understand that Company has entered into a clearing agreement with Apex whereby Company will introduce My Investing Account to Apex, and Apex will clear all transactions, on a fully- disclosed basis. I understand that Apex carries My Investing Account(s) and is responsible for the execution, clearing and bookkeeping of transactions, but is not otherwise responsible for the conduct of Public Investing. I will separately enter into a customer agreement with Apex which will govern my relationship with Apex.
(2) Until receipt from Me of written notice to the contrary, Apex may accept from Public Investing, without inquiry or investigation: (i) orders for the purchase or sale of securities and other property, on margin or otherwise; and (ii) any other instructions concerning said accounts. Apex will look solely to Public Investing unless otherwise directed by Public Investing, and not to Me, with respect to any such orders or instructions; except that I understand that Apex will prepare and deliver confirmations, statements, and other notices with respect to My Investing Account directly to Me with copies made available to Public Investing, and that Apex may look directly to Me or Public Investing for delivery of margin, payment, or securities, as applicable.
(3) I agree to hold Apex harmless from and against any losses, costs or expenses arising in connection with the delivery or receipt of any such communication(s), provided Apex has acted in accordance with the above. I agree further to hold Public Investing harmless from and against any losses, costs or expenses arising in connection with any actions taken by Apex in accordance with this provision and the customer agreement I have or will enter into with Apex. The foregoing is effective as to My Investing Account until written notice to
(4) I understand and agree that Public Investing is not responsible to regulate Apex and is not responsible, and will not be liable, for Apex’ actions. I will resolve any disputes I have with Apex directly.
