Common use of Client Money Handling Rules Clause in Contracts

Client Money Handling Rules. 16.1. The Company will promptly place any Client money it receives into one or more segregated account(s) with reliable financial institutions (i.e. an affiliate, a bank, a market, a settlement agent, a clearing house or OTC counterparty) and the Client funds will be segregated from the Company’s own money and cannot be used in the course of its business. The Client money shall be treated, at all times, in accordance with the applicable ‘Client Money’ rules, as amended from time to time. 16.2. The Company will deposit the Client money in one or more segregated accounts held with a financial institution, separated from the Company’s money. This means that all Client money is treated as belonging to the Company’s clients and under no circumstance they will use it to meet any of their obligations, at any time. Client money will be pooled with money belonging to other clients in a Segregated Account, which shall act as an omnibus account. Therefore, no single client will have a claim against a specific sum in a specific account in the event of insolvency. Any client’s claim shall be against the money held in the Segregated Account. 16.3. The third party to whom the Company will pass money may hold it in an omnibus account and it may not be possible to separate it from the Client’s money, or the third party’s money. 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. 16.4. The Company will not pay any interest on any Client Money held on the Client’s behalf, regardless of whether the Company receives interest on those deposits from the financial institution(s) with which Client Money is held. 16.5. The Company will exercise reasonable skill, care and diligence in the selection, appointment and periodic review of the financial institutions with which they will hold Client Money, in accordance with their regulatory obligations. To this end, the Company takes into account the credit rating of the institution(s) prior to depositing any Client Money, and takes reasonable steps to periodically monitor their credit risk. The Company may use multiple institutions to ensure diversification and allocate internal percentage limits for each institution they decide to use. The Company will give instructions to the institution(s) regarding the transfer and movement(s) of Client Money. Where the Client has an open position, the Company reserves the right to set-off any unrealized losses incurred against any of the Client Money held by the Company, in any account. This means that the Company may transfer any or part of any unrealized losses incurred by the Client from the Segregated Account to an account ofthe Company. Conversely, the Company may transfer any unrealized profits incurred by the Client as a result of an open position from an account of theirs to the Omnibus Account. 16.6. The Company will carry out reconciliation of funds at the close of each business day, and the Company will proceed with any required transfer to or from the Segregated Account on the next business day, unless this is not possible for any reason. 16.7. 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 for the purposes of paragraph 31.2.of the Client Agreement.

Client Money Handling Rules. 16.1. 21.1 The Company will promptly place any Client money it receives into one or more segregated account(s) with reliable financial institutions (i.e. an affiliateintermediate broker, a bank, a market, a settlement agent, a clearing house or OTC counterparty) and the Client funds will be segregated from the Company’s own money and cannot be used in the course of its business. . 21.2 The Company may hold Client money shall be treated, at all times, and the money of other clients in accordance with the applicable ‘Client Money’ rules, as amended from time to timesame account (omnibus account). 16.221.3 The Company shall not account to the Client for profits or 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. 21.4 The Company may deposit Client money in overnight deposits and will be allowed to keep any interest. 21.5 The Company may deposit Client money with a third party (i.e. intermediate broker, a bank, a market, a settlement agent, a clearing house or OTC counterparty) who may have a security interest, lien or right of set-off in relation to that money. 21.6 The Company may pass money received from the Client to a third party (e.g. an intermediate broker, a bank, a market, a settlement agent, a clearing house or OTC counterparty) to hold or control in order to effect a Transaction through or with that person or to satisfy the Client’s obligation to provide collateral (e.g. initial margin requirement) in respect of a Transaction. The Company has no responsibility for any acts or omissions of any third party to whom it will deposit the Client pass money in one or more segregated accounts held with a financial institution, separated received from the Company’s money. This means that all Client money is treated as belonging to the Company’s clients and under no circumstance they will use it to meet any of their obligations, at any time. Client money will be pooled with money belonging to other clients in a Segregated Account, which shall act as an omnibus account. Therefore, no single client will have a claim against a specific sum in a specific account in the event of insolvency. Any client’s claim shall be against the money held in the Segregated AccountClient. 16.3. 21.7 The third party to whom the Company will pass money may hold it in an omnibus account and it may not be possible to separate it from the Client’s money, or the third party’s money. 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. 16.4. The Company will not pay any interest on any Client Money held on the Client’s behalf, regardless of whether the Company receives interest on those deposits from the financial institution(s) with which Client Money is held. 16.5. The Company will exercise reasonable skill, care and diligence in the selection, appointment and periodic review of the financial institutions with which they will hold Client Money, in accordance with their regulatory obligations. To this end, the Company takes into account the credit rating of the institution(s) prior to depositing any Client Money, and takes reasonable steps to periodically monitor their credit risk. The Company may use multiple institutions to ensure diversification and allocate internal percentage limits for each institution they decide to use. The Company will give instructions to the institution(s) regarding the transfer and movement(s) of Client Money. Where the Client has an open position, the Company reserves the right to set-off any unrealized losses incurred against any of the Client Money held by the Company, in any account. This means that the Company may transfer any or part of any unrealized losses incurred by the Client from the Segregated Account to an account ofthe Company. Conversely, the Company may transfer any unrealized profits incurred by the Client as a result of an open position from an account of theirs to the Omnibus Account. 16.6. The Company will carry out reconciliation of funds at the close of each business day, and the Company will proceed with any required transfer to or from the Segregated Account on the next business day, unless this is not possible for any reason. 16.7. 21.8 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 ten Business Days prior Written Notice to the Client for the purposes of paragraph 31.2.of the Client 41.2 of this Agreement.

Client Money Handling Rules. 16.1. The Company will promptly place any Client money it receives into one or more segregated account(s) with reliable financial institutions (i.e. an affiliate, for example a bank, a market, a settlement agent, a clearing house or OTC counterparty) and the Client funds will be segregated from the Company’s own money and cannot be used in the course of its business. The Client money shall be treated, at all times, in accordance with the applicable ‘Client Money’ rules, as amended from time to time. 16.2. The Company will deposit the may hold Client money in one or more segregated accounts held with a financial institution, separated from and the Company’s money. This means that all Client money is treated as belonging to the Company’s clients and under no circumstance they will use it to meet any of their obligations, at any time. Client money will be pooled with money belonging to other clients in a Segregated Account, which shall act as an the same account (omnibus account. Therefore, no single client will have a claim against a specific sum in a specific account in the event of insolvency. Any client’s claim shall be against the money held in the Segregated Account). 16.3. The third party Company shall not pay to whom 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. 16.4. The Company may deposit Client money in overnight deposits and will pass be allowed to keep any interest. 16.5. Client money may hold it in an omnibus account and it may not be possible to separate it from held on the Client’s moneybehalf a bank located within or outside Belize. The legal and regulatory regime applying to any such person outside Belize will be different from that of Belize 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 apply if the money was held in a Segregated Account in Belize. The Company will not be liable for the solvency, acts or the omissions of any third party’s moneyparty referred to in this paragraph. 16.6. 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. 16.4. The Company will not pay any interest on any Client Money held on the Client’s behalf, regardless of whether the Company receives interest on those deposits from the financial institution(s) with which Client Money is held. 16.5. The Company will exercise reasonable skill, care and diligence in the selection, appointment and periodic review of the financial institutions with which they will hold Client Money, in accordance with their regulatory obligations. To this end, the Company takes into account the credit rating of the institution(s) prior to depositing any Client Money, and takes reasonable steps to periodically monitor their credit risk. The Company may use multiple institutions to ensure diversification and allocate internal percentage limits for each institution they decide to use. The Company will give instructions to the institution(s) regarding the transfer and movement(s) of Client Money. Where the Client has an open position, the Company reserves the right to set-off any unrealized losses incurred against any of the Client Money held by the Company, in any account. This means that the Company may transfer any or part of any unrealized losses incurred by the Client from the Segregated Account to an account ofthe Company. Conversely, the Company may transfer any unrealized profits incurred by the Client as a result of an open position from an account of theirs to the Omnibus Account. 16.6. The Company will carry out reconciliation of funds at the close of each business day, and the Company will proceed with any required transfer to or from the Segregated Account on the next business day, unless this is not possible for any reason. 16.7. 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 for the purposes of paragraph 31.2.of 34.2. of the Client Agreement. 16.8. 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.

Client Money Handling Rules. 16.1. The Company will promptly place any Client money it receives into one or more segregated account(s) with reliable financial institutions (i.e. an affiliate, a bank, a market, a settlement agent, a clearing house or OTC counterparty) and the Client funds will be segregated from the Company’s own money and cannot be used in the course of its business. The Client money shall be treated, at all times, in accordance with the applicable ‘Client Money’ rules, as amended from time to time. 16.2. The Company will deposit the Client money in one or more segregated accounts held with a financial institutioninstitution within or outside the European Economic Area (‘EEA’), separated from the Company’s money. This means that all Client money is treated as belonging to the Company’s clients and under no circumstance they will use it to meet any of their obligations, at any time. Client money will be pooled with money belonging to other clients in a Segregated Account, which shall act as an omnibus account. Therefore, no single client will have a claim against a specific sum in a specific account in the event of insolvency. Any client’s claim shall be against the money held in the Segregated Account. 16.3. The third party to whom the Company will pass money may hold it in an omnibus account and it may not be possible to separate it from the Client’s money, or the third party’s money. 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. 16.4. The Company will not pay any interest on any Client Money held on the Client’s behalf, regardless of whether the Company receives interest on those deposits from the financial institution(s) with which Client Money is held. 16.5. The Company will exercise reasonable skill, care and diligence in the selection, appointment and periodic review of the financial institutions with which they will hold Client Money, in accordance with their regulatory obligations. To this end, the Company takes into account the credit rating of the institution(s) prior to depositing any Client Money, and takes reasonable steps to periodically monitor their credit risk. The Company may use multiple institutions to ensure diversification and allocate internal percentage limits for each institution they decide to use. The Company will give instructions to the institution(s) regarding the transfer and movement(s) of Client Money. Where the Client has an open position, the Company reserves the right to set-off any unrealized losses incurred against any of the Client Money held by the Company, in any account. This means that the Company may transfer any or part of any unrealized losses incurred by the Client from the Segregated Account to an account ofthe Company. Conversely, the Company may transfer any unrealized profits incurred by the Client as a result of an open position from an account of theirs to the Omnibus Account. 16.6. Client Money held outside of the EEA may be subject to the jurisdiction of that territory and therefore Client rights may differ accordingly. The Company shall not be held responsible for the solvency, acts or omissions of any institution with which Client Money is held, regardless of the jurisdiction. 16.7. The Company will carry out reconciliation of funds at the close of each business day, and the Company will proceed with any required transfer to or from the Segregated Account on the next business day, unless this is not possible for any reason. 16.716.8. The Company is a member of the Investors Compensation Fund (ICF). So, depending on his classification, the Client may be entitled to compensation from the ICF in the event that the Company is unable to meet its obligations. More details are found in the Company’s document "Investors Compensation fund”. 16.9. 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 for the purposes of paragraph 31.2.of the Client Agreement.

Client Money Handling Rules. 16.1. The Company will promptly place any Client money it receives into one or more segregated account(s) with reliable financial institutions (i.e. an affiliate, a bank, a market, a settlement agent, a clearing house or OTC counterparty) and the Client funds will be segregated from the Company’s own money and cannot be used in the course of its business. The Client money shall be treated, at all times, in accordance with the applicable ‘Client Money’ rules, as amended from time to time. 16.2. The Company will deposit the Client money in one or more segregated accounts held with a financial institution, separated from the Company’s money. This means that all Client money is treated as belonging to the Company’s clients and under no circumstance they will use it to meet any of their obligations, at any time. Client money will be pooled with money belonging to other clients in a Segregated Account, which shall act as an omnibus account. Therefore, no single client will have a claim against a specific sum in a specific account in the event of insolvency. Any client’s claim shall be against the money held in the Segregated Account. 16.3. The third party to whom the Company will pass money may hold it in an omnibus account and it may not be possible to separate it from the Client’s money, or the third party’s money. 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. 16.4. The Company will not pay any interest on any Client Money held on the Client’s behalf, regardless of whether the Company receives interest on those deposits from the financial institution(s) with which Client Money is held. 16.5. The Company will exercise reasonable skill, care and diligence in the selection, appointment and periodic review of the financial institutions with which they will hold Client Money, in accordance with their regulatory obligations. To this end, the Company takes into account the credit rating of the institution(s) prior to depositing any Client Money, and takes reasonable steps to periodically monitor their credit risk. The Company may use multiple institutions to ensure diversification and allocate internal percentage limits for each institution they decide to use. The Company will give instructions to the institution(s) regarding the transfer and movement(s) of Client Money. Where the Client has an open position, the Company reserves the right to set-off set‐off any unrealized losses incurred against any of the Client Money held by the Company, in any account. This means that the Company may transfer any or part of any unrealized losses incurred by the Client from the Segregated Account to an account ofthe Company. Conversely, the Company may transfer any unrealized profits incurred by the Client as a result of an open position from an account of theirs to the Omnibus Account. 16.6. The Company will carry out reconciliation of funds at the close of each business day, and the Company will proceed with any required transfer to or from the Segregated Account on the next business day, unless this is not possible for any reason. 16.7. 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 for the purposes of paragraph 31.2.of the Client Agreement.

Client Money Handling Rules. 16.1. The Company will promptly place any Client money it receives into one or more segregated account(s) with reliable financial institutions (i.e. an affiliate, a bank, a market, a settlement agent, a clearing house or OTC counterparty) and the Client funds will be segregated from the Company’s own money and cannot be used in the course of its business. The Client money shall be treated, at all times, in accordance with the applicable ‘Client Money’ rules, as amended from time to time. 16.2. The Company will deposit the Client money in one or more segregated accounts held with a financial institution, separated from the Company’s money. This means that all Client money is treated as belonging to the Company’s clients and under no circumstance they will use it to meet any of their obligations, at any time. Client money will be pooled with money belonging to other clients in a Segregated Account, which shall act as an omnibus account. Therefore, no single client will have a claim against a specific sum in a specific account in the event of insolvency. Any client’s claim shall be against the money held in the Segregated Account. 16.3. The third party to whom the Company will pass money may hold it in an omnibus account and it may not be possible to separate it from the Client’s money, or the third party’s money. 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. 16.4. The Company will not pay any interest on any Client Money held on the Client’s behalf, regardless of whether the Company receives interest on those deposits from the financial institution(s) with which Client Money is held. 16.5. The Company will exercise reasonable skill, care and diligence in the selection, appointment and periodic review of the financial institutions with which they will hold Client Money, in accordance 16.6. with their regulatory obligations. To this end, the Company takes into account the credit rating of the institution(s) prior to depositing any Client Money, and takes reasonable steps to periodically monitor their credit risk. The Company may use multiple institutions to ensure diversification and allocate internal percentage limits for each institution they decide to use. The Company will give instructions to the institution(s) regarding the transfer and movement(s) of Client Money. Where the Client has an open position, the Company reserves the right to set-off any unrealized losses incurred against any of the Client Money held by the Company, in any account. This means that the Company may transfer any or part of any unrealized losses incurred by the Client from the Segregated Account to an account ofthe Company. Conversely, the Company may transfer any unrealized profits incurred by the Client as a result of an open position from an account of theirs to the Omnibus Account. 16.6. The Company will carry out reconciliation of funds at the close of each business day, and the Company will proceed with any required transfer to or from the Segregated Account on the next business day, unless this is not possible for any reason. 16.7. 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 for the purposes of paragraph 31.2.of the Client Agreement.