Common use of Client Moneys Clause in Contracts

Client Moneys. 12.1. ZERO Securities Pty Ltd must deal with any money and property which you pay or give to, or which is otherwise received by ZERO Securities Pty Ltd in connection with financial services provided by ZERO Securities Pty Ltd, in accordance with the Applicable Laws. Accordingly, ZERO Securities Pty Ltd ensures that it pays such money into a clients’ segregated account or into a Client Moneys Trust Account which complies with the requirements of the Corporations Act. You acknowledge and authorize that: (a) your moneys and the moneys of other clients of ZERO Securities Pty Ltd may be combined and held by ZERO Securities Pty Ltd in a Client Moneys Trust Account or clients’ segregated account, separate from the moneys of ZERO Securities Pty Ltd; and (b) any money paid and credited to the Client Moneys Trust Account or clients’ segregated account maintained by ZERO Securities Pty Ltd may be used by ZERO Securities Pty Ltd to meet any of the obligations which you incur under these Terms or under any contract you enter into with ZERO Securities Pty Ltd, to the extent permitted by the Corporations Act (subject to Applicable Laws and Rules). This means that ZERO Securities Pty Ltd can use these funds to pay any applicable fees, charges, amounts owed or owing by you under contracts you enter into with ZERO Securities Pty Ltd, or to make any other payment authorized by law. 12.2. If ZERO Securities Pty Ltd pays your funds to another person at your request, ZERO Securities Pty Ltd is not liable to you for the performance by the other person who receives the benefit of the payment of your funds. Without limitation, ZERO Securities Pty Ltd is not obliged to enquire into: a. the use of those funds by the third party; b. any persons to whom the third party pays all or any of these funds; c. the solvency of any of those persons; d. the compliance by any of those person with the Corporations Act, Applicable Laws and Rules; e. whether any of those persons hold any part of these funds on any nominee, segregated account, trust or any other basis for your protection or security. 12.3. You agree that ZERO Securities Pty Ltd is entitled to all interest earned on moneys credited to a clients’ segregated account or a Client Moneys Trust Account unless you and ZERO Securities Pty Ltd have otherwise agreed in writing. 12.4. The proceeds of a Transaction or other moneys to which you are entitled under these Terms and which are under the control of ZERO Securities Pty Ltd will be paid directly to you and not to any third party, unless you have otherwise instructed us to do so and we agree. You must provide relevant account details for payment instructions in respect of payments to be made by ZERO Securities Pty Ltd to you. Although ZERO Securities Pty Ltd will take reasonable steps to comply with your payment instructions, ZERO Securities Pty Ltd accepts no responsibility for any failure to comply with those instructions and, if such failure occurs, the relevant moneys will continue to be held by ZERO Securities Pty Ltd in accordance with the Corporations Act and Applicable Laws. 12.5. You authorise and direct ZERO Securities Pty Ltd to withdraw any or all monies to which you are otherwise entitled in any clients’ segregated account or Client Moneys Trust Account maintained by ZERO Securities Pty Ltd to meet any liability, obligation or other Loss which you owe to ZERO Securities Pty Ltd including to pay for your Financial Products or to pay any other person you have dealt with using ZERO Securities Pty Ltd as your agent. 12.6. You acknowledge that ZERO Securities Pty Ltd is entitled to be paid from those monies to which you are otherwise entitled in any clients’ segregated account or Client Moneys Trust Account maintained by ZERO Securities Pty Ltd an amount sufficient to meet any liability, obligation or other Loss which you owe to ZERO Securities Pty Ltd. You understand that under the terms of the PIO, ZERO Securities Pty Ltd ’ recourse against you for any shortfall is limited to money ZERO Securities Pty Ltd holds both in a client money account on your behalf, or otherwise holds in relation to your CFD trading account(s). 12.7. If you pay monies into any Client Moneys Trust Account maintained by ZERO Securities Pty Ltd in anticipation of you creating and meeting any liability, obligation or other Loss which you will owe to ZERO Securities Pty Ltd including to pay for your Financial Products (including payment for Margin) or to fund ZERO Securities Pty Ltd to pay any other person you have dealt with using ZERO Securities Pty Ltd as your agent before that liability or obligation has arisen, by these Terms and to the extent authorised by law, you authorise and direct ZERO Securities Pty Ltd to withdraw those monies to pay ZERO Securities Pty Ltd in advance of that liability arising. Your payment into the Client Moneys Trust Account will be deemed to be subject to this direction unless you tell ZERO Securities Pty Ltd otherwise. You agree that these Terms are a sufficient written direction by you for the purposes of authorising and directing ZERO Securities Pty Ltd to make the withdrawal on these Terms; subject to any other written direction you give ZERO Securities Pty Ltd from time to time. 12.8. If: (a) you have an account with a Settlement Participant or a Clearing Participant (who is acting as your agent) provides their services in respect of Transactions whose orders were placed by ZERO Securities Pty Ltd for you; and (b) you are entitled to monies held by or controlled by that agent; and (c) you have a liability, obligation or other Loss which you owe to ZERO Securities Pty Ltd including to pay for your Financial Products (including payment for Margin) even if not connected with those Transactions, you authorise ZERO Securities Pty Ltd on your behalf and for ZERO Securities Pty Ltd ’ own benefit to instruct or direct the agent to pay into the Client Moneys Trust Account maintained by ZERO Securities Pty Ltd up to an amount of your liability, obligation or other Loss which you owe to ZERO Securities Pty Ltd and you authorise ZERO Securities Pty Ltd to withdraw from the Client Moneys Trust Account that amount to which ZERO Securities Pty Ltd is entitled to be paid. 12.9. All currency exchange risks regarding any payment instruction or any Order or Transaction entered into or arranged for you by ZERO Securities Pty Ltd is your responsibility. Any conversion from one currency to another required to be made for performing or executing any payment instruction, Order or Transaction may be effected by ZERO Securities Pty Ltd in the manner and at the time and at the exchange rates that ZERO Securities Pty Ltd , in its absolute discretion, decides. 12.10. For the avoidance of any doubt, ZERO Securities Pty Ltd does not use Client money as: a. its capital, including working capital; b. for the purposes of meeting obligations incurred by ZERO Securities Pty Ltd other than on behalf of the client; and c. for the purposes of entering into or meeting obligations under transactions that ZERO Securities Pty Ltd enters into to hedge, counteract, or offset the risk to ZERO Securities Pty Ltd by entering into a transaction with a client. 12.11. In accepting these Terms and Conditions, you do not give ZERO Securities Pty Ltd any authorisation and/or direction to apply your money for any purpose referred to in clause 12.10. 12.12. Clause 12.11 prevails to the extent of any inconsistency with the rest of these Terms.

Client Moneys. 12.1. ZERO Securities Pty Ltd 12.1 FP Markets must deal with any money and property which you pay or give to, or which is otherwise received by ZERO Securities Pty Ltd in connection FPMarkets inconnection with financial services provided by ZERO Securities Pty LtdFP Markets, in accordance with the Applicable Laws. Accordingly, ZERO Securities Pty Ltd FP Markets ensures that it pays such money moneys into a clients’ segregated account or into a intoa Client Moneys Trust Account which complies with the requirements of the Corporations Act. You acknowledge and authorize authorise that: (a) your moneys and the moneys of other clients of ZERO Securities Pty Ltd FP Markets may be combined and held by ZERO Securities Pty Ltd in FPMarketsin a Client Moneys Trust Account or clients’ segregated account, separate from the moneys of ZERO Securities Pty LtdFP Markets; and (b) any money paid and credited to the Client Moneys Trust Account or clients’ segregated account maintained by ZERO Securities Pty Ltd FP Markets may be used by ZERO Securities Pty Ltd FP Markets to meet any of the obligations which you incur under these Terms or under any contract you enter into with ZERO Securities Pty LtdFP Markets, to the extent permitted by the Corporations Act (subject to Applicable Laws and Rules). This means that ZERO Securities Pty Ltd FP Markets can use these funds to pay any applicable fees, charges, amounts owed or owing by you under contracts you enter into with ZERO Securities Pty LtdFP Markets, or to make any other payment authorized authorised by law. 12.2. 12.2 If ZERO Securities Pty Ltd FP Markets pays your funds to another person at your requestrequest , ZERO Securities Pty Ltd FP Markets is not liable to you for the performance by the other person who receives the benefit of the payment of your funds. Without In particular, without limitation, ZERO Securities Pty Ltd FP Markets is not obliged to enquire into: a. (a) the use of those funds by the third party; b. (b) any persons to whom the third party pays all or any of these funds; c. (c) the solvency of any of those persons; d. (d) the compliance by any of those person with the Corporations Act, Applicable Laws and Rules; e. (e) whether any of those persons hold any part of these funds on any nominee, segregated account, trust or any other basis for your protection or security. 12.3. 12.3 You agree that ZERO Securities Pty Ltd FP Markets is entitled to all interest earned on moneys credited to a clients’ segregated account or a Client Moneys Trust Account unless you and ZERO Securities Pty Ltd have TrustAccountunlessyouandFPMarketshave otherwise agreed in writing. 12.4. 12.4 The proceeds of a ofa Transaction or other moneys to which you are entitled under these Terms and which are is under the control of ZERO Securities Pty Ltd FP Markets will be paid directly to you and not to any third party, unless you have otherwise instructed us to do so and we agree. You must provide relevant account details for payment instructions in respect of payments to be made by ZERO Securities Pty Ltd FP Markets to you. Although ZERO Securities Pty Ltd will take reasonable steps to comply with your payment instructions, ZERO Securities Pty Ltd accepts no FP Markets willtakereasonablestepstocomplywithyour paymentinstructions,FPMarketsacceptsno responsibility for any failure to comply with those instructions andthoseinstructionsand, if such failure occurssuchfailureoccurs, the relevant moneys will continue to be held by ZERO Securities Pty Ltd in therelevantmoneyswillcontinuetobeheldby FPMarketsin accordance with the withthe Corporations Act and Applicable Laws. 12.5. 12.5 You authorise and direct ZERO Securities Pty Ltd FP Markets to withdraw any or all monies to which you are otherwise entitled in any clients’ segregated account or Client Moneys Trust Account maintained by ZERO Securities Pty Ltd FP Markets to meet any liability, obligation or other Loss which you owe to ZERO Securities Pty Ltd FP Markets including to pay for your Financial Products or to pay any other person you have dealt with using ZERO Securities Pty Ltd FP Markets as your agent. 12.6. 12.6 You acknowledge that ZERO Securities Pty Ltd FP Markets is entitled to be paid from those monies to which you are otherwise entitled in any clients’ segregated account or Client Moneys Trust Account maintained by ZERO Securities Pty Ltd FP Markets an amount sufficient to meet any liability, obligation or other Loss which you owe to ZERO Securities Pty Ltd. You understand that under the terms of the PIO, ZERO Securities Pty Ltd ’ recourse against you for any shortfall is limited to money ZERO Securities Pty Ltd holds both in a client money account on your behalf, or otherwise holds in relation to your CFD trading account(s)FP Markets. 12.7. 12.7 If you pay monies into any Client Moneys Trust Account maintained by ZERO Securities Pty Ltd FP Markets in anticipation of you creating and meeting any liability, obligation or other Loss which you will owe to ZERO Securities Pty Ltd FP Markets including to pay for your Financial Products (including payment for Margin) or to fund ZERO Securities Pty Ltd FP Markets to pay any other person you have dealt with using ZERO Securities Pty Ltd FP Markets as your agent before that liability or obligation has arisen, by these Terms and to the extent authorised by law, you authorise and direct ZERO Securities Pty Ltd FP Markets to withdraw those monies to pay ZERO Securities Pty Ltd FP Markets in advance of that liability arising. Your payment into the Client Moneys Trust Account will be deemed to be subject to this direction unless you tell ZERO Securities Pty Ltd FP Markets otherwise. You agree that these Terms are a sufficient written direction by you for the purposes of authorising and directing ZERO Securities Pty Ltd FP Markets to make the withdrawal on these Terms; subject to any other written direction you give ZERO Securities Pty Ltd FP Markets from time to time. 12.8. 12.8 If: (a) you have an account with a Settlement Participant or a Clearing Participant (who is acting as your agent) provides their services in respect of Transactions whose orders were placed by ZERO Securities Pty Ltd FP Markets for you; and (b) you are entitled to monies held by or controlled by that agent; and (c) you have a liability, obligation or other Loss which you owe to ZERO Securities Pty Ltd FP Markets including to pay for your Financial Products (including payment for Margin) even if not connected with those Transactions, you authorise ZERO Securities Pty Ltd FP Markets on your behalf and for ZERO Securities Pty Ltd FP Markets’ own benefit to instruct or direct the agent to pay into the Client Moneys Trust Account maintained by ZERO Securities Pty Ltd FP Markets up to an amount of your liability, obligation or other Loss which you owe to ZERO Securities Pty Ltd FP Markets and you authorise ZERO Securities Pty Ltd FP Markets to withdraw from the Client Moneys Trust Account that amount to which ZERO Securities Pty Ltd FP Markets is entitled to be paid. 12.9. 12.9 All currency exchange risks regarding any payment instruction or any Order or Transaction entered into or arranged for you by ZERO Securities Pty Ltd FP Markets is your responsibility. Any conversion from one currency to another required to be made for performing or executing any payment instruction, Order or Transaction may be effected maybeeffected by ZERO Securities Pty Ltd in FPMarketsin the manner and at the time and at the exchange rates that ZERO Securities Pty Ltd FP Markets, in its absolute discretion, decides. 12.10. 12.10 For the avoidance of any doubt, ZERO Securities Pty Ltd FP Markets does not use Client money as: a. (a) its capital, including working capital; b. (b) for the purposes of meeting obligations incurred by ZERO Securities Pty Ltd FP Markets other than on behalf of the client; and c. (c) for the purposes of entering into or meeting obligations under transactions that ZERO Securities Pty Ltd FP Markets enters into to hedge, counteract, or offset the risk to ZERO Securities Pty Ltd FP Markets by entering into a transaction with a client. 12.11. 12.11 In accepting these Terms and Conditions, you do not give ZERO Securities Pty Ltd FP Markets any authorisation and/or direction to apply your money for any purpose referred to in clause 12.10. 12.12. 12.12 Clause 12.11 prevails to the extent of any inconsistency with the rest of these Terms.

Client Moneys. 12.1. ZERO Securities Pty Ltd 12.1 FP Markets must deal with any money and property which you pay or give to, or which is otherwise received by ZERO Securities Pty Ltd in connection FPMarkets inconnection with financial services provided by ZERO Securities Pty LtdFP Markets, in accordance with the Applicable Laws. Accordingly, ZERO Securities Pty Ltd FP Markets ensures that it pays such money moneys into a clients’ segregated account or into a Client Moneys Trust Account which complies with the requirements of the Corporations Act. You acknowledge and authorize authorise that: (a) your moneys and the moneys of other clients of ZERO Securities Pty Ltd FP Markets may be combined and held by ZERO Securities Pty Ltd FP Markets in a Client Moneys Trust Account or clients’ segregated account, separate from the moneys of ZERO Securities Pty LtdFP Markets; and (b) any money paid and credited to the Client Moneys Trust Account or clients’ segregated account maintained by ZERO Securities Pty Ltd FP Markets may be used by ZERO Securities Pty Ltd FP Markets to meet any of the obligations which you incur under these Terms or under any contract you enter into with ZERO Securities Pty LtdFP Markets, to the extent permitted by the Corporations Act (subject to Applicable Laws and Rules). This means that ZERO Securities Pty Ltd FP Markets can use these funds to pay any applicable fees, charges, amounts owed or owing by you under contracts you enter into with ZERO Securities Pty LtdFP Markets, or to make any other payment authorized authorised by law. 12.2. 12.2 If ZERO Securities Pty Ltd FP Markets pays your funds to another person at your requestrequest , ZERO Securities Pty Ltd FP Markets is not liable to you for the performance by the other person who receives the benefit of the payment of your funds. Without In particular, without limitation, ZERO Securities Pty Ltd FP Markets is not obliged to enquire into: a. (a) the use of those funds by the third party; b. (b) any persons to whom the third party pays all or any of these funds; c. (c) the solvency of any of those persons; d. (d) the compliance by any of those person with the Corporations Act, Applicable Laws and Rules; e. (e) whether any of those persons hold any part of these funds on any nominee, segregated account, trust or any other basis for your protection or security. 12.3. 12.3 You agree that ZERO Securities Pty Ltd FP Markets is entitled to all interest earned on moneys credited to a clients’ segregated clients’segregated account or a ora Client Moneys Trust Account unless you and ZERO Securities Pty Ltd FP Markets have otherwise agreed in writing. 12.4. 12.4 The proceeds of a Transaction or other moneys to which you are entitled under these Terms and which are is under the control of ZERO Securities Pty Ltd FP Markets will be paid directly to you and not to any third party, unless you have otherwise instructed us to do so and we agree. You must provide relevant account details for payment instructions in respect of payments to be made by ZERO Securities Pty Ltd FP Markets to you. Although ZERO Securities Pty Ltd FP Markets will take reasonable steps to comply with your payment instructions, ZERO Securities Pty Ltd FP Markets accepts no responsibility for any failure to comply with those instructions and, if such failure occurs, the relevant moneys will continue to be held by ZERO Securities Pty Ltd FPMarkets in accordance with the Corporations Act and Applicable Laws. 12.5. 12.5 You authorise and direct ZERO Securities Pty Ltd FP Markets to withdraw any or all monies to which you are otherwise entitled in any clients’ segregated account or Client Moneys Trust Account maintained by ZERO Securities Pty Ltd FP Markets to meet any liability, obligation or other Loss which you owe to ZERO Securities Pty Ltd FP Markets including to pay for your Financial Products or to pay any other person you have dealt with using ZERO Securities Pty Ltd FP Markets as your agent. 12.6. 12.6 You acknowledge that ZERO Securities Pty Ltd FP Markets is entitled to be paid from those monies to which you are otherwise entitled in any clients’ segregated account or Client Moneys Trust Account maintained by ZERO Securities Pty Ltd FP Markets an amount sufficient to meet any liability, obligation or other Loss which you owe to ZERO Securities Pty Ltd. You understand that under the terms of the PIO, ZERO Securities Pty Ltd ’ recourse against you for any shortfall is limited to money ZERO Securities Pty Ltd holds both in a client money account on your behalf, or otherwise holds in relation to your CFD trading account(s)FP Markets. 12.7. 12.7 If you pay monies into any Client Moneys Trust Account maintained by ZERO Securities Pty Ltd FP Markets in anticipation of you creating and meeting any liability, obligation or other Loss which you will owe to ZERO Securities Pty Ltd FP Markets including to pay for your Financial Products (including payment for Margin) or to fund ZERO Securities Pty Ltd FP Markets to pay any other person you have dealt with using ZERO Securities Pty Ltd FP Markets as your agent before that liability or obligation has arisen, by these Terms and to the extent authorised by law, you authorise and direct ZERO Securities Pty Ltd FP Markets to withdraw those monies to pay ZERO Securities Pty Ltd FP Markets in advance of that liability arising. Your payment into the Client Moneys Trust Account will be deemed to be subject to this direction unless you tell ZERO Securities Pty Ltd FP Markets otherwise. You agree that these Terms are a sufficient written direction by you for the purposes of authorising and directing ZERO Securities Pty Ltd FP Markets to make the withdrawal on these Terms; subject to any other written direction you give ZERO Securities Pty Ltd FP Markets from time to time. 12.8. 12.8 If: (a) you have an account with a Settlement Participant or a Clearing Participant (who is acting as your agent) provides their services in respect of Transactions whose orders were placed by ZERO Securities Pty Ltd FP Markets for you; and (b) you are entitled to monies held by or controlled by that agent; and (c) you have a liability, obligation or other Loss which you owe to ZERO Securities Pty Ltd FP Markets including to pay for your Financial Products (including payment for Margin) even if not connected with those Transactions, you authorise ZERO Securities Pty Ltd FP Markets on your behalf and for ZERO Securities Pty Ltd FP Markets’ own benefit to instruct or direct the agent to pay into the Client Moneys Trust Account maintained by ZERO Securities Pty Ltd FP Markets up to an amount of your liability, obligation or other Loss which you owe to ZERO Securities Pty Ltd FP Markets and you authorise ZERO Securities Pty Ltd FP Markets to withdraw from the Client Moneys Trust Account that amount to which ZERO Securities Pty Ltd FP Markets is entitled to be paid. 12.9. 12.9 All currency exchange risks regarding any payment instruction or any Order or Transaction entered into or arranged for you by ZERO Securities Pty Ltd FP Markets is your responsibility. Any conversion from one currency to another required to be made for performing or executing any payment instruction, Order or Transaction may be effected maybeeffected by ZERO Securities Pty Ltd FPMarkets in the manner and at the time and at the exchange rates that ZERO Securities Pty Ltd FP Markets, in its absolute discretion, decides. 12.10. 12.10 For the avoidance of any doubt, ZERO Securities Pty Ltd FP Markets does not use Client money as: a. (a) its capital, including working capital; b. (b) for the purposes of meeting obligations incurred by ZERO Securities Pty Ltd FP Markets other than on behalf of the client; and c. (c) for the purposes of entering into or meeting obligations under transactions that ZERO Securities Pty Ltd FP Markets enters into to hedge, counteract, or offset the risk to ZERO Securities Pty Ltd FP Markets by entering into a transaction with a client. 12.11. 12.11 In accepting these Terms and Conditions, you do not give ZERO Securities Pty Ltd FP Markets any authorisation and/or direction to apply your money for any purpose referred to in clause 12.10. 12.12. 12.12 Clause 12.11 prevails to the extent of any inconsistency with the rest of these Terms.