Common use of Client Money and Custody Clause in Contracts

Client Money and Custody. 9.1. Unless short selling is specifically permitted by AM CY, AM CY requires AM CY’s Clients to credit all funds related to their Invest.MT5 account to a designated financial institution with which AM CY maintains a segregated client account prior to the placement of any purchase order. 9.2. Immediately following the acceptance by AM CY of a purchase order by the Client for a security, AM CY shall be liable for the purchase. The amount payable for settlement of the purchase order shall become instantly due and payable by the Client to AM CY and shall thereupon cease to be client money. The Client shall not have the protection of the client money rules promulgated by the CySEC in respect of funds required for settlement of a purchase order. 9.3. AM CY intends to deposit an amount equal to the amount due for settlement in a transaction segregated account in the name of AM CY with AM AS or AM PTY (as applicable). AM AS or AM PTY (as applicable) will transfer such amount from the transaction segregated account to a third-party broker who may be located in a jurisdiction outside of the European Economic Area, such as the United States of America, for the purpose of clearing, settlement of the transaction and custody of the securities. 9.4. Securities purchased by a Client may be held in an omnibus account /segregated omnibus account (the “Omnibus Account”) with a third-party broker or custodian. In addition, these securities may be registered in the name of the intermediary broker or third-party custodian and held in the possession of such third-parties at an authorized securities depository for the benefit of clients of the third-party broker or custodian. The Omnibus Account may be held in a territory outside the European Economic Area and will not benefit from the protections afforded to clients under Cyprus laws or within the European Economic Area. The terms of the Omnibus Account allow for the co-mingling of assets and as such, it may not be possible to separate your securities from those of other clients. The Omnibus Account allows for netting and allows the third-party broker and in some cases, relevant exchanges, liens and security interest over assets held in the Omnibus Account. There are additional risks relating to Omnibus Accounts of which the Client needs to be aware of, including the risk of insolvency (only applies in the event where the securities are held in an omnibus account and not a segregated omnibus account) of the third-party broker and/ or custodian as well as the risk that the held securities may be liquidated at prices not favourable to you or that your rights may not be recognised or enforceable under the laws of the relevant jurisdiction(s). 9.5. You should note that Clients may only purchase and sell securities. Once purchased, the securities in the Invest.MT5 account may only be transferred by way of sale.

Client Money and Custody. 9.1. Unless short selling is specifically permitted by AM CYAglobe, AM CY Aglobe requires AM CYAglobe’s Clients to credit all funds related to their Invest.MT5 account to a designated financial institution with which AM CY Aglobe maintains a segregated client account prior to the placement of any purchase order. 9.2. Immediately following the acceptance by AM CY Aglobe of a purchase order by the Client for a security, AM CY Aglobe shall be liable for the purchase. The amount payable for settlement of the purchase order shall become instantly due and payable by the Client to AM CY Aglobe and shall thereupon cease to be client Client money. The Client shall not have the protection of the client money rules laws promulgated by the CySEC FSA in respect of funds required for settlement of a purchase order. 9.3. AM CY Aglobe intends to deposit an amount equal to the amount due for settlement in a transaction segregated account in the name of AM CY Aglobe with AM AS or PTY. AM PTY (as applicable). AM AS or AM PTY (as applicable) will transfer such amount from the transaction segregated account to a third-party broker who may be located in a jurisdiction outside the Republic of the European Economic AreaSeychelles, such as the United States of America, for the purpose of clearing, settlement of the transaction and custody of the securities. 9.4. Securities purchased by a Client may be held in an omnibus account /segregated omnibus account (the “Omnibus Account”) with a third-party broker or custodian. In addition, these securities may be registered in the name of the intermediary broker or third-party custodian and held in the possession of such third-parties at an authorized securities depository for the benefit of clients of the third-party broker or custodian. The Omnibus Account may be held in a territory outside the European Economic Area Republic of Seychelles and will not benefit from the protections afforded to clients under Cyprus the laws or within of the European Economic AreaRepublic of Seychelles. The terms of the Omnibus Account allow for the co-mingling of assets and as such, it may not be possible to separate your securities from those of other clients. The Omnibus Account allows for netting and allows the third-party broker and in some cases, relevant exchanges, liens and security interest over assets held in the Omnibus Account. There are additional risks relating to Omnibus Accounts of which the Client needs to be aware of, including the risk of insolvency (only applies in the event where the securities are held in an omnibus account and not a segregated omnibus account) of the third-party broker and/ or custodian as well as the risk that the held securities may be liquidated at prices not favourable to you or that your rights may not be recognised or enforceable under the laws of the relevant jurisdiction(s). 9.5. You should note that Clients may only purchase and sell securities. Once purchased, the securities in the Invest.MT5 account may only be transferred by way of sale. 9.6. FSA Client money and custody laws: i. The third-party broker/ custodian may be located outside the Republic of Seychelles. They may deposit and hold money, securities and other assets (including, but not limited to, collateral and safe custody investments) in accounts that are located outside of the Republic of Seychelles. The legal, regulatory, and settlement regime applicable to other brokers or Affiliates and to the entities in which Clients’ money, securities and other assets will be held may be different from that of the Republic of Seychelles (i.e., any client money and custody Rules promulgated by the FSA will not apply). Among other things, different practices for the separate identification of Clients money, securities, and assets may apply and, in the event of a default of Client’s money, securities and assets may be treated differently from the position that would apply if the money, securities or assets were held in the Republic of Seychelles. To the extent that another broker or Affiliate holds Client’s money, securities, or other assets, the broker or Affiliate will hold such money, securities, and assets in accordance with the rules of their respective jurisdiction and where assets are held in an Omnibus Account in the United States of America, the Securities and Exchange Commission ("SEC") and the U.S. Commodity Futures Trading Commission ("CFTC"), as applicable.

Client Money and Custody. 9.1. A. Unless short selling is specifically permitted by AM CYUK, AM CY UK requires AM CY’s Clients UK Customers to credit all funds related to their Invest.MT5 account to a designated financial institution with which AM CY UK maintains a segregated client account prior to the placement of any purchase order. 9.2. B. Immediately following the acceptance by AM CY UK of a purchase order by the Client Customer for a security, AM CY UK shall be liable for the purchase. The amount payable for settlement of the purchase order shall become instantly due and payable by the Client Customer to AM CY UK and shall thereupon cease to be client money. The Client Customer shall not have the protection of the client money rules promulgated by the CySEC FCA in respect of funds required for settlement of a purchase order. 9.3. C. AM CY UK intends to deposit an amount equal to the amount due for settlement in a transaction segregated account in the name of AM CY UK with AM AS or AM PTY (as applicable)AS. AM AS or AM PTY (as applicable) will intends to transfer such amount from the transaction segregated account to a third-third party broker who may be located in a jurisdiction outside of the European Economic Area, such as the United States of America, for the purpose of clearing, settlement of the transaction and custody of the securitiesSecurities. 9.4. D. Securities purchased by a Client may Customer will be held on behalf of Customer in an omnibus a segregated account /segregated omnibus account (in the “Omnibus Account”) name of the Customer with a third-party broker or custodianAM UK. In additionHowever, these the rights of the Customer to the Securities will be limited by the Terms of Business and by the following. These securities may will be registered in the name of the intermediary broker or third-party custodian Admiral Markets AS and may be held in the possession of such third-parties a third party broker and held at an authorized securities depository a custody bank in a Reserve Safekeeping Account for the benefit of clients of the third-third party broker or custodian. The Omnibus Account may be held in a territory outside the European Economic Area and will not benefit from the protections afforded to clients under Cyprus laws or within the European Economic Area. The terms of the Omnibus Account allow for the co-mingling of assets and as such, it may not be possible to separate your securities from those of other clients. The Omnibus Account allows for netting and allows the third-party broker and in some cases, relevant exchanges, liens and security interest over assets held in the Omnibus Account. There are additional risks relating to Omnibus Accounts of which the Client needs to be aware of, including the risk of insolvency (only applies in the event where the securities are held in an omnibus account and not a segregated omnibus account) of the third-party broker and/ or custodian as well as the risk that the held securities may be liquidated at prices not favourable to you or that your rights may not be recognised or enforceable under the laws of the relevant jurisdiction(s). 9.5broker. You should note that Clients Customers may only purchase and sell securities. Once purchased, purchased the securities in the Invest.MT5 account may only be transferred by way of sale. The securities may be held in an Omnibus segregated account opened with a third party broker in the name of AM AS. The Omnibus account may be held in a territory outside the European Economic Area will not benefit from the protections afforded to clients under UK rules or within the European Economic Area. The terms of the AM AS Omnibus account allow for the co-mingling of assets between clients of AM UK and also with those of AM AS or the proprietary assets belonging to AM AS. The Omnibus account allows for netting and allows the third party broker and in some cases relevant exchanges liens and security interest over assets held in the Omnibus account. There are additional risks relating to Omnibus accounts of which the Customer needs to be aware of, including the risk of insolvency of the third party broker, exchange and that of AM AS at that in the event of insolvency or other certain circumstances where it is permitted, holdings in securities may be liquidated and converted into cash at a price that may not reflect the purchase price paid by the Customer or that rights may not be recognised or enforceable under the laws of the jurisdiction of the third party broker or of the Republic of Estonia. E. Monies received on the sale of a security or for any other reason related to a security may be registered by the third party broker to a segregated Omnibus account held by AM AS. This segregated account may be subject to the laws of a jurisdiction outside of the European Economic Area, such as the United States of America, and allows for co-mingling of assets between AM UK and AM AS and their respective clients. Further risks related to Omnibus accounts are referred to in paragraph 9 D. above. Forthwith on receipt of such monies, they will be transferred to the transaction clients account held by AM UK with AM AS, which is subject to the laws of the Republic of Estonia. Customer as a result may not benefit from not have the protection afforded by the laws of England and there is a risk that in the event of insolvency of the exchange, third party broker or AM AS that rights may not be recognised or enforceable under the laws of the jurisdiction of the third party broker or of the Republic of Estonia.

Client Money and Custody. 9.1. Unless short selling is specifically permitted by AM CYUK, AM CY UK requires AM CYUK’s Clients to credit all funds related to their Invest.MT5 account to a designated financial institution with which AM CY UK maintains a segregated client account prior to the placement of any purchase order. 9.2. Immediately following the acceptance by AM CY UK of a purchase order by the Client for a security, AM CY UK shall be liable for the purchase. The amount payable for settlement of the purchase order shall become instantly due and payable by the Client to AM CY UK and shall thereupon cease to be client money. The Client shall not have the protection of the client money rules promulgated by the CySEC FCA in respect of funds required for settlement of a purchase order. 9.3. AM CY UK intends to deposit an amount equal to the amount due for settlement in a transaction segregated account in the name of AM CY UK with AM AS or AM PTY (as applicable). AM AS or AM PTY (as applicable) will transfer such amount from the transaction segregated account to a third-party broker who may be located in a jurisdiction outside of the United Kingdom or the European Economic Area, such as the United States of America, for the purpose of clearing, settlement of the transaction and custody of the securities. 9.4. Securities purchased by a Client may be held in an omnibus account /segregated omnibus account (the “Omnibus Account”) with a third-party broker or custodian. In addition, these securities may be registered in the name of the intermediary broker or third-party custodian and held in the possession of such third-parties at an authorized securities depository for the benefit of clients of the third-party broker or custodian. The Omnibus Account may be held in a territory outside the United Kingdom or the European Economic Area and will not benefit from the protections afforded to clients under Cyprus the laws of the United Kingdom or within the European Economic Area. The terms of the Omnibus Account allow for the co-mingling of assets and as such, it may not be possible to separate your securities from those of other clients. The Omnibus Account allows for netting and allows the third-party broker and in some cases, relevant exchanges, liens and security interest over assets held in the Omnibus Account. There are additional risks relating to Omnibus Accounts of which the Client needs to be aware of, including the risk of insolvency (only applies in the event where the securities are held in an omnibus account and not a segregated omnibus account) of the third-party broker and/ or custodian as well as the risk that the held securities may be liquidated at prices not favourable to you or that your rights may not be recognised or enforceable under the laws of the relevant jurisdiction(s). 9.5. You should note that Clients may only purchase and sell securities. Once purchased, the securities in the Invest.MT5 account may only be transferred by way of sale.

Client Money and Custody. 9.1. A. Unless short selling is specifically permitted by AM CY, AM CY requires AM CY’s Clients CY Customers to credit all funds related to their Invest.MT5 account to a designated financial institution with which AM CY maintains a segregated client account prior to the placement of any purchase order. 9.2. B. Immediately following the acceptance by AM CY of a purchase order by the Client Customer for a security, AM CY shall be liable for the purchase. The amount payable for settlement of the purchase order shall become instantly due and payable by the Client Customer to AM CY and shall thereupon cease to be client money. The Client Customer shall not have the protection of the client money rules promulgated by the CySEC FCA in respect of funds required for settlement of a purchase order. 9.3. C. AM CY intends to deposit an amount equal to the amount due for settlement in a transaction segregated account in the name of AM CY with AM AS or AM PTY (as applicable)AS. AM AS or AM PTY (as applicable) will intends to transfer such amount from the transaction segregated account to a third-third party broker who may be located in a jurisdiction outside of the European Economic Area, such as the United States of America, for the purpose of clearing, settlement of the transaction and custody of the securitiesSecurities. 9.4. D. Securities purchased by a Client may Customer will be held on behalf of Customer in an omnibus a segregated account /segregated omnibus account (in the “Omnibus Account”) name of the Customer with a third-party broker or custodianAM CY. In additionHowever, these the rights of the Customer to the Securities will be limited by the Terms of Business and by the following. These securities may will be registered in the name of the intermediary broker or third-party custodian Admiral Markets AS and may be held in the possession of such third-parties a third party broker and held at an authorized securities depository a custody bank in a Reserve Safekeeping Account for the benefit of clients of the third-third party broker or custodian. The Omnibus Account may be held in a territory outside the European Economic Area and will not benefit from the protections afforded to clients under Cyprus laws or within the European Economic Area. The terms of the Omnibus Account allow for the co-mingling of assets and as such, it may not be possible to separate your securities from those of other clients. The Omnibus Account allows for netting and allows the third-party broker and in some cases, relevant exchanges, liens and security interest over assets held in the Omnibus Account. There are additional risks relating to Omnibus Accounts of which the Client needs to be aware of, including the risk of insolvency (only applies in the event where the securities are held in an omnibus account and not a segregated omnibus account) of the third-party broker and/ or custodian as well as the risk that the held securities may be liquidated at prices not favourable to you or that your rights may not be recognised or enforceable under the laws of the relevant jurisdiction(s). 9.5broker. You should note that Clients Customers may only purchase and sell securities. Once purchased, purchased the securities in the Invest.MT5 account may only be transferred by way of sale. The securities may be held in an Omnibus segregated account opened with a third party broker in the name of AM AS. The Omnibus account may be held in a territory outside the European Economic Area will not benefit from the protections afforded to clients under Cyprus rules or within the European Economic Area. The terms of the AM AS Omnibus account allow for the co-mingling of assets between clients of AM CY and also with those of AM AS or the proprietary assets belonging to AM AS. The Omnibus account allows for netting and allows the third party broker and in some X. Xxxxxx received on the sale of a security or for any other reason related to a security may be registered by the third party broker to a segregated Omnibus account held by AM AS. This segregated account may be subject to the laws of a jurisdiction outside of the European Economic Area, such as the United States of America, and allows for co-mingling of assets between AM CY and AM AS and their respective clients. Further risks related to Omnibus accounts are referred to in paragraph 9 D. above. Forthwith on receipt of such monies, they will be transferred to the transaction clients account held by AM CY with AM AS, which is subject to the laws of the Republic of Estonia. Customer as a result may not benefit from not have the protection afforded by the laws of the Republic of Cyprus and there is a risk that in the event of insolvency of the exchange, third party broker or AM AS that rights may not be recognised or enforceable under the laws of the jurisdiction of the third party broker or of the Republic of Estonia.