CLIENTS FUNDS. The Company treats any funds received by the Client as Client’s Funds in accordance with the provisions of the Applicable Laws and Regulations regarding holding clients’ money. It is noted that funds belonging to the Client that will be used only for trading purposes will be kept in accounts with credit institutions pursuant to the Applicable Rules and Regulations. The Company holds Client’s money with authorised credit institutions in the Republic of Cyprus and the European Union, however it may also hold Client’s money in a bank established outside the European Union. The legal and regulatory regime applying to any such bank might be different from the legal and regulatory regime in Cyprus and the European Union and in the event of the insolvency or any other analogous events in relation to that bank, Clients’ funds may be treated differently than if the funds were held with a bank in an account in Cyprus and the European Union. The Company will not be liable for the insolvency, acts or omissions of any third party referred to in this clause. The Company has exercised all due care, skill and diligence in the selection, appointment and periodic review of such credit institutions and payment service providers. The Client’s funds are kept in bank accounts denominated as Clients’ funds and clearly segregated from the Company’s own funds. Funds deposited may be kept in one or more omnibus accounts with any authorised regulated credit institution which will be specified from time to time and will be held in the Company’s name denominated as Clients’ funds. The Company may hold Clients’ money in omnibus accounts with third party financial and credit institutions. In this respect, the Client is warned that there is a risk of loss emanating from the use of omnibus accounts in financial or credit institutions. Omnibus accounts may also hold other types of risks including legal, liquidation risk, haircut risk, third party risk etc. It is commonly understood that the Company may charge fees for withdrawals of money transferred out of Client’s Trading Account. It remains the Client’s responsibility to be aware at all times of the transfer fees and/or any other fees and charges which are charged directly by the credit institution and any other payment service providers which the Company collaborates. The full list of the payment service providers that the Company collaborates is available in its website, along with the competent authority which supervises them. Where ...
CLIENTS FUNDS. Funds belonging to you that will be used for trading purposes will be kept in a segregated account or accounts with any bank or financial institution used to accept funds which the Company will specify from time to time and will be held on clients’ denoted accounts under the Company’s name. It is noted that the Company’s own funds are kept on separate accounts from the Customer’s funds denoted “clients’ funds account”. The Company will not be liable for the insolvency, acts or omissions of any third party referred to in this clause. The Company has duty to and shall exercise due skill, care and diligence in the selection and monitoring of the financial institution according to paragraph of this Agreement. However, it is understood that there are circumstances beyond the control of the Company and hence the Company does not accept any liability or responsibility for any resulting losses to the Customer as a result of the insolvency or any other analogous proceedings or failure of the financial institution where Client money will be held. By accepting the Agreement, you authorize the Company to make any deposits and withdrawals from the Bank Account on your behalf including, without prejudice to the generality of the above, withdrawals for the settlement of all transactions undertaken under the Agreement and all amounts which are payable by or on behalf of the Client to the Company or any other person. It is commonly understood that any amount payable by the Company to you, shall be paid directly to you to a bank account the beneficial owner of which is you. Fund transfer requests are processed by the Company within the time period specified on the Company’s official website and the time needed for crediting into your personal account will depend on your bank account provider. The Company retains a right of set off and may, at its discretion, from time to time and without your authorization, set-off any amounts held on behalf and/or to the credit of you against your obligation to the Company. Unless otherwise agreed in writing by the Company and you, this Agreement shall not give rise to rights of credit facilities. You have the right to withdraw the funds which are not used for margin covering, free from any obligations from your Account without closing the said Account. The Company reserves the right to decline a withdrawal request if the request is not in accordance with certain conditions mentioned in this Agreement or delay the processing of the request...
CLIENTS FUNDS. 15.1. The Company will promptly place any Client Funds it receives into one or more segregated account(s) with reliable financial institutions such as a bank or a credit institution and the Client Funds will be segregated from the Company’s own money and cannot be used in the course of its business.
15.2. The Company may hold Client Funds together with money of other Clients in the same account (omnibus account).
15.3. According to Applicable Regulations, for the purposes of safeguarding of Client Funds, the Company:
a) keeps such records and accounts as are necessary to distinguish Clients’ assets from its own and of other Clients’; such records are accurate and correspond to the Client Funds;
b) conducts, on a regular basis, reconciliations between its internal accounts and records and those of any third parties by whom those assets are held;
c) at all times keeps Client Funds segregated from the Company’s own funds;
d) does not use Client Funds in the course of its own business;
e) takes the necessary steps to ensure that Client Funds deposited with a financial institution are held in an account(s) identified separately from any accounts used to hold funds of the Company;
f) introduces adequate organizational arrangements to minimize the risks of the loss or diminution of Client Funds, as a result of misuse, fraud, poor administration, inadequate record keeping or negligence.
15.4. According to Applicable Regulations, the Company exercises due skill, care and diligence in the selection and appointment and periodic review of the financial institutions and the arrangements for holding of Client Funds. The Company takes into account the expertise and market reputation of such institutions with the view of ensuring the protection of Client’s rights, diversification, as well as any legal or regulatory requirements or market practices related to holding of Client Funds that could adversely affect the Client’s rights. Diversification requirements will not apply to Client money placed with a third party merely for the purpose of executing a Transaction for the Client.
15.5. The Company may deposit Client Funds with a third party (i.e. Financial Institution, a market, a settlement agent, a clearing house or OTC counterparty) and the Company does not grant security interests, liens or rights of set-off over Client financial instruments or funds which enable third parties to dispose of the Client’s financial instruments or funds in order to recover debts that do n...
CLIENTS FUNDS. 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 together with money of other clients in the same account (omnibus account).
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/her Trading Account(s) under this Agreement) and the Client waives all right to interest.
16.4. The Company may deposit Client money with a third party (i.e. Financial Institution, 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.
16.5. Funds belonging to the Client that will be used for trading purposes will be kept in an account with any bank or financial institution used to accept funds which the Company will specify from time to time and will be held in the Client's name and/or the Company's name denoted as clients account. It is understood that the Company may hold funds on behalf of the Client with an intermediate broker, a bank, a market, a settlement agent, a clearing house or OTC counterparty located outside the European Union or the EEA. The legal and regulatory regime applying to any such person might be different from the legal and regulatory regime in Cyprus and the European Union and in the event of the insolvency or any other analogous events or equivalent failure of that person, Client's funds may be treated differently from the treatment which would apply if the funds were held with a bank in an account in Cyprus and the European Union. The Company will not be liable for the insolvency, acts or omissions of any third party referred to in this clause.
16.6. 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 f...
CLIENTS FUNDS. 1. The Available Funds are held in the client money bank account by the Product Provider, which is separate to the investor's Nominated Bank Account. We will require the Product Provider to hold your Available Funds in accordance with the rules of the Financial Conduct Authority in the United Kingdom.
2. We will conduct reasonable investigations and make reasonable enquiries concerning the financial standing of our Product Provider before we appoint him and will continue to use reasonable endeavours to monitor his financial standing and general conduct of his business for so long as the Product Provider remains appointed by us.
3. The decision as to which Product Provider to use, including changes to the Product Provider, will rest solely with us.
4. While we will typically use Product Providers that will hold our clients’ funds (including your Available Funds) in the United Kingdom, we may also, in our sole discretion and based on the Securities in which you make Instructions, appoint Product Providers to hold funds abroad. We will use reasonable endeavours to ensure that the level of protection afforded by Product Providers who hold funds abroad will be materially the same as the level of protection afforded by our Product Provider who hold funds in the United Kingdom, however you should be aware that there may be differences.
5. You agree that neither Orca nor any of our group companies, directors, staff, agents, suppliers or contractors will have any liability, of whatever nature and howsoever arising, for any loss of or reduction in your Available Funds while held by our Product Provider (including if our Product Provider should become insolvent or otherwise unable to transfer your Available Funds) or for any delay in that Product Provider transferring your Available Funds based on your Instructions. We will, however, use all reasonable endeavours to assist in efforts to recover your Available Funds, should there be a loss of or reduction in your Available Funds while held by our Product Provider.
CLIENTS FUNDS. 12.1. 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.
CLIENTS FUNDS. 15.1. The Company will promptly place any Client Funds it receives into one or more segregated account(s) with reliable financial institutions such as a bank or a credit institution and the Client funds will be segregated from the Company’s own money and cannot be used in the course of its business.
15.2. The Company may hold Client Funds together with money of other clients in the same account (omnibus account).
CLIENTS FUNDS. 17.1 The Affiliate will make clear and understandable to the Clients, that the Company does not accept third party payments and hence all funds provided by the Client will be paid by the Client directly towards the Company’s designated segregated bank account(s) or those of the Company’s clearing firm as notified by the Company. Any payment due and payable by the Client to the Company must be made by telegraphic transfer or any other method of electronic funds transfer acceptable by the Company.
CLIENTS FUNDS. 9.1 The Client's funds which will be used for the sale/purchase of Financial Instruments shall be deposited in the Prochoice Chimatistiriaki Client's bank accounts at the Banks that the company keeps such client accounts in Cyprus or abroad (hereinafter called "the Bank Account") and/or in the Company's account (clients' account).
9.2 Where it has been agreed with the Client that transactions will be executed without the Client having a Bank Account, the Company shall be entitled to charge interest (in case of purchase of Financial Instruments), as it may specify from time to time and which at present is as determined in Appendix E.
9.3 By signing this Agreement, the Client authorizes the Company to effect deposits and/or withdrawals from the Bank Account on behalf of the Client including, without prejudice to the generality of the above, withdrawals for settlement of all transactions undertaken by this Agreement and all amounts payable by or on behalf of the Client to the Company or to any other person.
CLIENTS FUNDS. 9.1 When there is an incoming transfer of funds into the Client’s Payment Account, LunaPay places the funds into segregated accounts held with authorised credit institutions to safeguard and protect Client’s funds in accordance with applicable laws and regulations of England and Wales.
9.2 Account statements are always issued subject to error or omission of calculation or entry, and subject to the usual qualifications.
9.3 By entering into relationship based on these Terms, the Client confirms that the Client is aware that LunaPay is subject to supervision by the UK authorities, foreign authorities and foreign jurisdictions in connection with its business activities on behalf of the Client and that funds held by LunaPay or third parties for the account of the Client can be subject to investigations and measures, including information bans, freezing orders, seizures or sequestrations in foreign countries. The Client accepts that all consequences of such compulsory measures shall be valid with regard to and against it, its funds and its Payment Account and may thus have as an effect of its funds being blocked or even debited from the Payment Account.
9.4 The Client authorises LunaPay to block Client’s funds, or to take any other measures as it may deem fit upon extra-judicial opposition notified to LunaPay by third parties on the funds of the Client or if LunaPay is informed, even unofficially, of any actual or alleged unlawful undertakings of the Client of the account or if there exist any third party claims on the funds held by the Client with LunaPay.
