Common use of CLIENT MONEY Client Money Clause in Contracts

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 Cyprus. The Company will not be liable for the solvency, acts or omissions of any third party referred to in this clause. In the event of the insolvency or any other analogous proceedings in relation to that third party, the Company may only have an unsecured claim against the third party on behalf of the Client, and the Client will be exposed to the risk that the money received by the Company from the third party is insufficient to satisfy the claims of the Client with claims in respect of the relevant account. The Company does not accept any liability or responsibility for any resulting losses. It is agreed that the Company shall have the right to transfer the Client Money to successors or assignees or transferees or buyers, with 15 Business Days prior Written Notice to the Client. The Company shall not conclude title transfer financial collateral arrangements with any Client who is a Retail Client for the purpose of securing or covering present or future, actual or contingent or prospective obligations of such Client. The Company shall not grant security interests, liens or rights of set-off over Client money enabling a third party to dispose of the Client's money in order to recover debts that do not relate to the Client or provision of services to the Client, unless this is required by Applicable Law in a third country jurisdiction in which the Client money may be held. If the Company will enter into such an agreement, it will amend this Client Agreement accordingly to reflect this. The Company shall have a general lien on all funds held by the Company or its Associates or its nominees on the Client’s behalf until the satisfaction of his obligations. The Company is covered by the Investors Compensation Fund (ICF) where the Client may be entitled to compensation from the ICF if the Company cannot meet its obligations in the situations explained in the Company’s Investors Compensation Fund document. The Client agrees that the Company will not be held liable or have any further obligation in the event that any credit or financial institution with which Segregated Funds are held defaults in its obligations. The Company will carry out reconciliations of records and Segregated Funds with the records and accounts of the money the Company holds in Segregated Accounts on a daily basis, and any required transfer to or from the Segregated Account will take place by the close of business on the day that the reconciliation is performed. The Company reserves the right to carry out such reconciliations and transfers more frequently, should the Company reasonably considers that this is necessary to protect the Company’s or Clients’ interests. You agree that the Company may cease to treat your funds as client funds if there has been no movement on your balance for six years. The Company shall write to you at your last known address notifying you of our intention of no longer treating your balance as client money and giving you 28 days to make a claim.

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 Cypruscounterparty. The legal and regulatory regime applying to any such person will be different from that of Cyprus Mauritius 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 Cyprusdifferently. The Company will not be liable for the solvency, acts or omissions of any third party referred to in this clause. In the event of the insolvency or any other analogous proceedings in relation to that third party, the Company may only have an unsecured claim against the third party on behalf of the Client, and the Client will be exposed to the risk that the money received by the Company from the third party is insufficient to satisfy the claims of the Client with claims in respect of the relevant account. The Company does not accept any liability or responsibility for any resulting losses. It is agreed that the Company shall have the right to transfer the Client Money to successors or assignees or transferees or buyers, with 15 Business Days prior Written Notice to the Client. The Company shall not conclude title transfer financial collateral arrangements with any Client who is a Retail Client for the purpose of securing or covering present or future, actual or contingent or prospective obligations of such Client. The Company shall not grant security interests, liens or rights of set-off over Client money enabling a third party to dispose of the Client's money in order to recover debts that do not relate to the Client or provision of services to the Client, unless this is required by Applicable Law in a third country jurisdiction in which the Client money may be held. If the Company will enter into such an agreement, it will amend this Client Agreement accordingly to reflect this. The Company shall have a general lien on all funds held by the Company or its Associates or its nominees on the Client’s behalf until the satisfaction of his obligations. The Company is covered by the Investors Compensation Fund (ICF) where the Client may be entitled to compensation from the ICF if the Company cannot meet its obligations in the situations explained in the Company’s Investors Compensation Fund document. The Client agrees that the Company will not be held liable or have any further obligation in the event that any credit or financial institution with which Segregated Funds are held defaults in its obligations. The Company will carry out reconciliations of records and Segregated Funds with the records and accounts of the money the Company holds in Segregated Accounts on a daily basis, and any required transfer to or from the Segregated Account will take place by the close of business on the day that the reconciliation is performed. The Company reserves the right to carry out such reconciliations and transfers more frequently, should the Company reasonably considers that this is necessary to protect the Company’s or Clients’ interests. You agree that the Company may cease to treat your funds as client funds if there has been no movement on your balance for six years. The Company shall write to you at your last known address notifying you of our intention of no longer treating your balance as client money and giving you 28 days to make a claim.

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 EEA or pass funds held on the Client’s behalf to an intermediary broker, settlements agent or Over-the Counter (“OTC “) counterparty located outside CyprusEEA. The legal and regulatory regime applying to any such person will be different from that of Cyprus Mauritius 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 Cyprusthe EEA region. The Company will not be liable for the solvency, acts or omissions of any third party referred to in this clause. In the event of the insolvency or any other analogous proceedings in relation to that third party, the Company may only have an unsecured claim against the third party on behalf of the Client, and the Client will be exposed to the risk that the money received by the Company from the third party is insufficient to satisfy the claims of the Client with claims in respect of the relevant account. The Company does not accept any liability or responsibility for any resulting losses. It is agreed that the Company shall have the right to transfer the Client Money to successors or assignees or transferees or buyers, with 15 Business Days prior Written Notice to the Client. The Company shall not conclude title transfer financial collateral arrangements with any Client who is a Retail Client for the purpose of securing or covering present or future, actual or contingent or prospective obligations of such Client. The Company shall not grant security interests, liens or rights of set-off over Client money enabling a third party to dispose of the Client's money in order to recover debts that do not relate to the Client or provision of services to the Client, unless this is required by Applicable Law in a third country jurisdiction in which the Client money may be held. If the Company will enter into such an agreement, it will amend this Client Agreement accordingly to reflect this. The Company shall have a general lien on all funds held by the Company or its Associates or its nominees on the Client’s behalf until the satisfaction of his obligations. The Company is covered by the Investors Compensation Fund (ICF) where the Client may be entitled to compensation from the ICF if the Company cannot meet its obligations in the situations explained in the Company’s Investors Compensation Fund document. The Client agrees that the Company will not be held liable or have any further obligation in the event that any credit or financial institution with which Segregated Funds are held defaults in its obligations. The Company will carry out reconciliations of records and Segregated Funds with the records and accounts of the money the Company holds in Segregated Accounts on a daily basis, and any required transfer to or from the Segregated Account will take place by the close of business on the day that the reconciliation is performed. The Company reserves the right to carry out such reconciliations and transfers more frequently, should the Company reasonably considers that this is necessary to protect the Company’s or Clients’ interests. You agree that the Company may cease to treat your funds as client funds if there has been no movement on your balance for six years. The Company shall write to you at your last known address notifying you of our intention of no longer treating your balance as client money and giving you 28 days to make a claim.