CLOSING A TRANSACTION. 16.1 In relation to trading on the MT4 platform and/or MT5 platform or others as the case may be, to close any Transaction in whole or in part you must enter into a second Transaction in relation to the same Reference Asset as the first Transaction but you must Sell if the first Transaction was a Buy and you must Buy if the first Transaction was a Sell.
16.2 In addition, when trading on the MT5 platform, we will net your first and second Transaction, and the aggregate position shall be displayed on your trading platform where applicable.
16.3 Spreads, including market Spreads, can and do widen significantly in some circumstances; they may not be the same size and there is no limit on how large they may be. You acknowledge that when you close a Transaction, the Spread may be larger or smaller than the Spread when the Transaction was opened. For Transactions effected when the Market or Underlying Market of any Reference Asset is closed or in respect of which there is no Market or Underlying Market for the Reference Asset, the bid and offer price figures that we quote will reflect what we believe the market price in an investment would be at that time. Such figures will be set by us at our reasonable discretion. Our quotation is not guaranteed to be within any specific percentage of the quotation of the Market or Underlying Market of the Reference Asset, and the Spread quoted by us will reflect our view of prevailing market conditions. You agree not to use our bid and offer prices for any purpose other than for your own trading purpose, and you agree not to distribute our bid and offer prices to any other person whether such redistribution be for commercial or other purposes.
16.4 If you approach us to close out a Transaction which has been entered into between us, we are under no obligation to do so. Where we agree to do this, we will calculate the close out value of the Transaction based on prevailing market conditions and may include associated costs arising from the close out in this figure. The close out value may be due from you to us or from us to you depending on the Transaction and may be substantial.
16.5 We may close any Transaction in our sole discretion at any time without notice in the event that:
16.5.1 if it is a 'Sell' Transaction, and due to illiquidity in the relevant Reference Asset, we are unable tocborrow a sufficient number of such Reference Asset to settle any underlying hedge position in respectcof the Transaction; or
16.5.2 if we are...
CLOSING A TRANSACTION. UNDATED TRANSACTIONS
(1) Subject to this Agreement and any requirement we may specify in relation to Linked Transactions, you may close an open Undated Transaction or any part of such open Undated Transaction at any time.
(2) Subject to Term 4(11), when you close an Undated Transaction, the Closing Level will be, if you are closing an Undated Transaction that is a Buy, the lower figure then quoted by us and, if you are closing an Undated Transaction that is a Sell, the higher figure then quoted by us. This will not be the case when:
(a) your closing level is improved in accordance with Term 4(11), where your closing level will be the more favourable price; and
(b) a Transaction is initiated pursuant to an Order, where your closing level will be in accordance with the parameters set out in that Order and the terms of that Order.
CLOSING A TRANSACTION. 1In relation to trading on the MT4 platform and MT5 platform, to close any Transaction in whole or in part you must enter into a second Transaction in relation to the same Reference Asset as the first Transaction but you must sell if the first Transaction was a purchase and you must purchase if the first Transaction was a sell.
CLOSING A TRANSACTION. 29.2.1. Undated Transactions
(1) Subject to this Agreement you may close an open Undated Transaction or any part of such open Undated Transaction at any time.
(2) When you close an Undated Transaction, the Closing Level will be, if you are closing an Undated Buy Transaction, the lower figure quoted by us and if you are closing an Undated Sell Transaction, the higher figure quoted by us.
CLOSING A TRANSACTION
