CLIENT MONEY Client Money. We treat money received from you or held by us on your behalf in accordance with the requirements of the Client Money Rules.
CLIENT MONEY Client Money. The Company will promptly place any Client money it receives into one or more segregated account(s) with reliable financial institutions (for example a bank) and the Client funds will be segregated from the Company’s own funds and cannot be used in the course of its business. According to Applicable Regulations, the Company shall exercise due skill, care and diligence in the selection and appointment and periodic review of the financial institutions mentioned above and the arrangements for holding of Client money. The Company takes into account the expertise and market reputation of such institutions with the view of ensuring the protection of Client’s rights, as well as any legal or regulatory requirements or market practices related to holding of Client money that could adversely affect Client’s right. Diversification requirements will not apply to client money placed with a third party merely for the purpose of executing a Transaction for the Client. The Company shall not be obliged to pay to the Client any interest earned on Client money (other than profit gained through trading Transactions from his Client Account(s) under this Agreement) and the Client waives all right to interest. When the Company will be using a financial institution, intermediary broker, agent, etc. outside Cyprus; it will exercise all due skill, care and diligence in the selection, appointment and periodic review of the relevant institution where the funds will be placed and the arrangements it will use for the holding of the Clients’ funds. The Company will take into account the expertise and market reputation of such institutions with the view to ensuring the protection of clients’ rights, as well as any legal or regulatory requirements or market practices related to the holding of Client funds that could adversely affect Clients’ rights. Unless the Client has notified the Company in writing to the contrary, the Company may hold funds on the Client’s behalf, in a Segregated Account located outside Cyprus or pass funds held on the Client’s behalf to an intermediary broker, settlements agent or Over-the Counter (“OTC “) counterparty located outside Cyprus. The legal and regulatory regime applying to any such person will be different from that of Cyprus and in the event of the insolvency or any other equivalent failure of that person, the Client’s money may be treated differently from the treatment which would have been applied if the money was held in a Segregated Account in Cypr...
CLIENT MONEY Client Money. Any money received by the Company in respect of a Client’s Account with the Company shall be treaded as ‘’Client Money’’ in accordance with the then applicable Client Money Rules except where the Client (Professional Clients and Eligible Counterparties only) separately agree with us to transfer full ownership of money to the Company for the purpose of securing or otherwise covering present or future, actual or contingent or prospective obligations, such as Margin, in which circumstances such money will not be regarded as Client Money. Title transfer collateral arrangements are not used by the Company with Retail Clients.
CLIENT MONEY Client Money. By signing this Agreement, the Client authorizes the Company to effect deposits and/or withdrawals from the Bank Account on behalf of the Client including, without prejudice to the generality of the above, withdrawals for settlement of all transactions undertaken by this Agreement and all amounts payable by or on behalf of the Client to the Company or to any other entity.
CLIENT MONEY Client Money. You have been categorized as a Professional Client, elective, per se or otherwise, you agree that any money that:
(a) you transfer or have transferred to us; or
(b) which is transferred to us on your behalf by way of margin or otherwise, unless otherwise agreed will be treated as a transfer of full ownership of such money by you to us for the purpose of securing or covering your present, future, actual, contingent or prospective obligations. Accordingly, where you pay such money to us, we will acquire full ownership of it and we will not hold such money in accordance with the Client Money Rules. Your money will not be segregated from ours, the statutory trust provided for under the Client Money Rules will not apply, and we will not have to account to you for any use we make of the money. You will not have any interest in or proprietary claim over such money transferred to us pursuant to this Term and we can deal with it as our own. In the event of our insolvency you rank as a general creditor of ours in relation to such money.
