CLOSING A MARGIN FX CONTRACT OR CFD Clause Samples
The 'Closing a Margin FX Contract or CFD' clause defines the process and conditions under which a margin foreign exchange (FX) contract or contract for difference (CFD) can be terminated or settled. Typically, this clause outlines how either party may initiate the closing of a position, the calculation of profits or losses based on the difference between opening and closing prices, and the timing for settlement of any resulting amounts. For example, it may specify that a position can be closed at the prevailing market rate or through a specific request to the broker. The core function of this clause is to provide a clear and standardized mechanism for ending trading positions, thereby ensuring both parties understand their rights and obligations when concluding these types of financial contracts.
CLOSING A MARGIN FX CONTRACT OR CFD. 12.1 When can a Contract be closed?
12.2 Automatic closure after three years
CLOSING A MARGIN FX CONTRACT OR CFD. 12.1 When can a Margin FX Contract or CFD (other than an Index Futures CFD or Commodity CFD) be closed?
(a) You give instructions to close a Margin FX Contract or CFD other than an Excepted Contract by entering into an equal and opposite Contract irrespective of the date on which either Contract closes automatically under clause 12.3 as follows:
CLOSING A MARGIN FX CONTRACT OR CFD. 12.1 When can a Margin FX Contract or CFD (other than an Index Futures CFD or Commodity CFD) be closed? A Margin FX Contract or CFD (other than an Index Futures CFD or a Commodity CFD, which are together referred to in this clause as “Excepted Contracts”) may be closed out if:
(a) You give instructions to close a Margin FX Contract or CFD other than an Excepted Contract by entering into an equal and opposite Contract irrespective of the date on which either Contract closes automatically under clause
CLOSING A MARGIN FX CONTRACT OR CFD.
12.1 When can a Contract be closed?
12.2 Automatic closure after three years A Contract will close automatically three (3) years from the date the Contract was first entered into if the Contract has not been closed out under clause 13.2. It is your responsibility to be aware of the date and time a particular Contract will be closed. Please refer to our Product Schedule for more information.
CLOSING A MARGIN FX CONTRACT OR CFD