Common use of CLIENT SELECTION OF CLASSIFICATION Clause in Contracts

CLIENT SELECTION OF CLASSIFICATION. It is noted that an eligible counterparty or professional client is allowed to request non- professional treatment and the Company may agree to provide a higher level of protection. In this respect, the Company notifies its clients in a written form of their option to be classified as retail clients. The Company proceeds in this action, in order to offer a uniform level of protection to all of its clients. The higher level of protection will be provided by the Company when the client enters into a written agreement with the Company, to the effect that it shall not be treated as a professional. It is the responsibility of the client who is classified as a professional client to ask for a higher level of protection when he is not in a position to properly assess and manage the risks involved in the transactions. In addition, clients who have been initially classified by the Company as retail clients are allowed to request to be treated as professional clients, provided that at least two of the following criteria are satisfied:  The client has carried out transactions, in significant size, at an average frequency of 10 per quarter over the previous ten quarters.  The size of the client’s financial instrument portfolio exceeds USD $500,000.00  The client works or has worked in the financial sector for at least one year in a profes- sional position, which requires knowledge of the transactions or services envisaged.