Common use of Client Money Handling Rules Clause in Contracts

Client Money Handling Rules. 21.1 The Company may hold Client money and the money of other clients in the same account (omnibus account). 21.2 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. 21.3 The Company may deposit Client money in overnight deposits and will be allowed to keep any interest. 21.4 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. 21.5 Client money may be held on the Client’s behalf with an intermediate broker, a bank, a market, a settlement agent, a clearing house or OTC counterparty. 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. The Company will not be liable for the solvency, acts or omissions of any third party referred to in this paragraph. 21.6 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. 21.7 It is agreed that the Company shall have the right to transfer the Client Money to successors or assignees or transferees or buyers, with ten Business Days prior Written Notice to the Client for the purposes of paragraph 39.2of this Agreement.

Appears in 2 contracts

Samples: Terms and Conditions, Terms and Conditions

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Client Money Handling Rules. 21.1 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 intermediate 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. 16.2. The Company may hold Client money and the money of other clients in the same account (omnibus account). 21.2 16.3. 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. 21.3 16.4. The Company may deposit Client money in overnight deposits and will be allowed to keep any interest. 21.4 16.5. 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- set-off in relation to that money. 21.5 16.6. Client money may be held on the Client’s behalf with an intermediate broker, a bank, a market, a settlement agent, a clearing house or OTC counterpartycounterparty located within or outside Cyprus or the EEA. In The legal and regulatory regime applying to any such person outside Cyprus or the EEA 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 apply if the money was held in a Segregated AccountAccount in Cyprus. The Company will not be liable for the solvency, acts or omissions of any third party referred to in this paragraph. 21.6 16.7. 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. 21.7 16.8. 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 ten Business Days prior Written Notice to the Client for the purposes of paragraph 39.2of this 34.2. of the Client Agreement.

Appears in 2 contracts

Samples: Client Agreement, Client Agreement

Client Money Handling Rules. 21.1 The Company may hold Client money and the money of other clients in the same account (omnibus account). 21.2 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 rights to interest. 21.3 The Company may deposit Client money in overnight deposits and will be allowed to keep any interest. 21.4 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- set-off in relation to that money. 21.5 Client money may be held on the Client’s behalf with an intermediate broker, a bank, a market, a settlement agent, a clearing house or OTC counterparty. 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. The Company will not be liable for the solvency, acts or omissions of any third party referred to in this paragraph. 21.6 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. 21.7 It is agreed that the Company shall have the right to transfer the Client Money to successors or assignees or transferees or buyers, with ten Business Days prior Written Notice to the Client for the purposes of paragraph 39.2of this Agreement.

Appears in 2 contracts

Samples: Client Agreement, Client Agreement

Client Money Handling Rules. 21.1 16.1. 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 money and cannot be used in the course of its business. 16.2. The Company may hold Client money and the money of other clients in the same account (omnibus account). 21.2 16.3. The Company shall not account pay to the Client for profits or 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. 21.3 16.4. The Company may deposit Client money in overnight deposits and will be allowed to keep any interest. 21.4 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. 21.5 16.5. Client money may be held on the Client’s behalf with an intermediate broker, a bank, a market, a settlement agent, a clearing house bank located within or OTC counterpartyoutside St. Xxxxxxx & the Grenadines. In The legal and regulatory regime applying to any such person outside St. Xxxxxxx & the Grenadines will be different from that of St. Xxxxxxx & the Grenadines 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 AccountAccount in St. Xxxxxxx & the Grenadines . The Company will not be liable for the solvency, acts or omissions of any third party referred to in this paragraph. 21.6 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 money16.6. 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. 21.7 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 ten 15 Business Days prior Prior Written Notice to the Client for the purposes of paragraph 39.2of this 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.

Appears in 2 contracts

Samples: Client Agreement, Client Agreement

Client Money Handling Rules. 21.1 23.1 The Company will promptly place any Client money it receives into one or more segregated account(s) with reliable financial institutions (i.e. an intermediate 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. 23.2 The Company may hold Client money and the money of other clients in the same account (omnibus account). 21.2 23.3 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.Transactions 21.3 23.4 The Company may deposit Client money in overnight deposits and will be allowed to keep any interest. 21.4 23.5 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- set-off in relation to that money. 21.5 23.6 Client money may be held on the Client’s behalf with an intermediate broker, a bank, a market, a settlement agent, a clearing house or OTC counterpartycounterparty located within or outside Cyprus. In The legal and regulatory regime applying to any such person outside Cyprus 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 apply if the money was held in a Segregated Account. The Company will not be liable for the solvency, acts or omissions of any third party referred to in this paragraph. 21.6 23.7 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. 21.7 23.8 The Company is a member of the Investors Compensation Fund (ICF). So, depending on his categorisation, 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” on the Website. 23.9 It is agreed that the Company shall have the right to transfer the Client Money to successors or assignees or transferees or buyers, with ten Business Days prior Written Notice to the Client for the purposes of paragraph 39.2of 44.2 of this Agreement.

Appears in 2 contracts

Samples: Client Agreement, Client Agreement

Client Money Handling Rules. 21.1 23.1 Because the Client has been categorized as a Professional Client or Eligible Counterparty as per the “Client Categorisation Policy”, this document must be read in conjunction with the “Title Transfer Collateral Arrangement” or “TTCA” provided to the Client via email, prior to the opening of a Client Account. If there are any discrepancies between this Agreement and the TTCA, the TTCA shall prevail. 23.2 The Company may hold Client money and the money of other clients in the same account (omnibus account). 21.2 23.3 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. 21.3 23.4 The Company may deposit Client money in overnight deposits and will be allowed to keep any interest. 21.4 23.5 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- set-off in relation to that money. 21.5 23.6 Client money may be held on the Client’s behalf with an intermediate broker, a bank, a market, a settlement agent, a clearing house or OTC counterpartycounterparty located within or outside Cyprus. In The legal and regulatory regime applying to any such person outside Cyprus 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 apply if the money was held in a Segregated Account. The Company will not be liable for the solvency, acts or omissions of any third party referred to in this paragraph. 21.6 23.7 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. 21.7 23.8 It is agreed that the Company shall have the right to transfer the Client Money to successors or assignees or transferees or buyers, with ten Business Days prior Written Notice to the Client for the purposes of paragraph 39.2of 44.2 of this Agreement. 23.9 Trading leveraged Financial Instruments involves significant risk of loss on your invested capital. However, the Company provides negative balance protection to its retail clients which means that they cannot lose more than their invested capital.

Appears in 1 contract

Samples: Client Agreement

Client Money Handling Rules. 21.1 21.1. The Company may hold Client money and the money of other clients in the same account (omnibus account). 21.2 21.2. 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 rights to interest. 21.3 21.3. The Company may deposit Client money in overnight deposits and will be allowed to keep any interest. 21.4 21.4. 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. 21.5 21.5. Client money may be held on the Client’s behalf with an intermediate broker, a bank, a market, a settlement agent, a clearing house or OTC counterparty. 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. The Company will not be liable for the solvency, acts or omissions of any third party referred to in this paragraph. 21.6 21.6. 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. 21.7 21.7. It is agreed that the Company shall have the right to transfer the Client Money to successors or assignees or transferees or buyers, with ten Business Days prior Written Notice to the Client for the purposes of paragraph 39.2of this Agreement.

Appears in 1 contract

Samples: Client Agreement

Client Money Handling Rules. 21.1 23.1 The Company will promptly place any Client money it receives into one or more segregated account(s) with reliable financial institutions (i.e. an intermediate 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. 23.2 The Company may hold Client money and the money of other clients in the same account (omnibus account). 21.2 23.3 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. 21.3 23.4 The Company may deposit Client money in overnight deposits and will be allowed to keep any interest. 21.4 23.5 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- set-off in relation to that money. 21.5 23.6 Client money may be held on the Client’s behalf with an intermediate broker, a bank, a market, a settlement agent, a clearing house or OTC counterpartycounterparty located within or outside Cyprus. In The legal and regulatory regime applying to any such person outside Cyprus 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 apply if the money was held in a Segregated Account. The Company will not be liable for the solvency, acts or omissions of any third party referred to in this paragraph. 21.6 23.7 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. 21.7 23.8 The Company is a member of the Investors Compensation Fund (ICF). So, depending on his categorisation, 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”. 23.9 It is agreed that the Company shall have the right to transfer the Client Money to successors or assignees or transferees or buyers, with ten Business Days prior Written Notice to the Client for the purposes of paragraph 39.2of 44.2 of this Agreement. 23.10 Trading leveraged Financial Instruments involves significant risk of loss on your invested capital. However, the Company provides negative balance protection to its retail clients which means that they cannot lose more than their invested capital.

Appears in 1 contract

Samples: Client Agreement

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Client Money Handling Rules. 21.1 The Company may hold Client money and the money of other clients in the same account (omnibus account). 21.2 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. 21.3 The Company may deposit Client money in overnight deposits and will be allowed to keep any interest. 21.4 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- set-off in relation to that money. 21.5 Client money may be held on the Client’s behalf with an intermediate broker, a bank, a market, a settlement agent, a clearing house or OTC counterparty. 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. The Company will not be liable for the solvency, acts or omissions of any third party referred to in this paragraph. 21.6 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. 21.7 It is agreed that the Company shall have the right to transfer the Client Money to successors or assignees or transferees or buyers, with ten Business Days prior Written Notice to the Client for the purposes of paragraph 39.2of this Agreement.

Appears in 1 contract

Samples: Client Agreement

Client Money Handling Rules. 21.1 The Company may hold Client money and the money of other clients in the same account (omnibus account). 21.2 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. 21.3 The Company may deposit Client money in overnight deposits and will be allowed to keep any interest. 21.4 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- set-off in relation to that money. 21.5 Client money may be held on the Client’s 's behalf with an intermediate broker, a bank, a market, a settlement agent, a clearing house or OTC counterparty. In the event of the insolvency or any other equivalent failure of that person, the Client’s 's money may be treated differently from the treatment which would apply if the money was held in a Segregated Account. The Company will not be liable for the solvency, acts or omissions of any third party referred to in this paragraph. 21.6 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 's money, or the third party’s 's money. In the event of the insolvency or any other analogous proceedings in relation to that third party, 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. 21.7 It is agreed that the Company shall have the right to transfer the Client Money to successors or assignees or transferees or buyers, with ten Business Days prior Written Notice to the Client for the purposes of paragraph 39.2of this Agreement.

Appears in 1 contract

Samples: Terms and Conditions

Client Money Handling Rules. 21.1 16.1. 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 money and cannot be used in the course of its business. 16.2. The Company may hold Client money and the money of other clients in the same account (omnibus account). 21.2 16.3. The Company shall not account pay to the Client for profits or 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 interesttointerest. 21.3 16.4. The Company may deposit Client money in overnight deposits and will be allowed to keep any interest. 21.4 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. 21.5 16.5. Client money may be held on the Client’s behalf with an intermediate broker, a bank, a market, a settlement agent, a clearing house bank located within or OTC counterpartyoutside Belize. In 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 AccountAccount in Belize. The Company will not be liable for the solvency, acts or omissions of any third party referred to in this paragraph. 21.6 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 money16.6. 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. 21.7 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 ten 15 Business Days prior Written Notice to the Client for the purposes of paragraph 39.2of this 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.

Appears in 1 contract

Samples: Client Agreement

Client Money Handling Rules. 21.1 The Company may hold Client money and the money of other clients in the same account (omnibus account). 21.2 . The Company shall not account to the Client for profits profits or interest earned on Client money (other than profit profit gained through trading Transactions from his Client Account(s) under this Agreement) and the Client waives all right rights to interest. 21.3 . The Company may deposit Client money in overnight deposits and will be allowed to keep any interest. 21.4 . 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- set-off in relation to that money. 21.5 . Client money may be held on the Client’s behalf with an intermediate broker, a bank, a market, a settlement agent, a clearing house or OTC counterparty. 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. The Company will not be liable for the solvency, acts or omissions of any third party referred to in this paragraph. 21.6 . 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 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. 21.7 . It is agreed that the Company shall have the right to transfer the Client Money to successors or assignees or transferees or buyers, with ten Business Days prior Written Notice to the Client for the purposes of paragraph 39.2of 39.2 of this Agreement.

Appears in 1 contract

Samples: Client Agreement

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