Corporate Actions, Adjustment Events and Insolvency. 8.1. A Corporate Action or Adjustment Event may occur in relation to the underlying asset of a CFD. 8.2. If a Corporate Action or Adjustment Event occurs, the Company may take appropriate action (in its reasonable opinion) to: 8.2.1. replicate this in the Order or Transaction; 8.2.2. reflect any action taken by counterparties to trades in respect of such underlying assets of the CFD that the Provider has entered into in order to hedge or offset the Provider’s exposure to the Client; or 8.2.3. preserve the economic equivalent of the Order or CFD Transaction immediately prior to the Corporate Action or Adjustment Event, which may have consequences on the Transaction. 8.3. The Company will give the Client notice of any applicable action that it decides to take as soon as reasonably practicable, which for the avoidance of doubt may be after the relevant Corporate Action or Adjustment Event or after the relevant action which the Company may take in its discretion under this clause 8. 8.4. If the price of the Underlying Asset that a CFD is based upon is suspended, the Company may, in its sole discretion, close any Open Positions in that CFD at a price that is reasonable. Such price may be different for a buy and sell Transaction and may be at a price of zero (0). 8.5. The Company will notify the Client of the date and price at which such Open Position will be closed. 8.6. The Company reserves the right to request additional Margin and/or any reasonably foreseeable associated costs incurred by the Company (or any of its affiliates) in connection with any suspension of a CFD or the relevant Underlying Asset. 8.7. If an issuer, whose securities form the basis of a CFD, becomes insolvent or similar, the Company may close all Transactions on that CFD, generally at a price of zero (0). 8.8. If the Client has an Open Position on any such CFD, the Company shall provide the Client with notice of this. 8.9. Certain CFDs have an expiry date. On the expiry date, an open position on the expiring CFD will be closed automatically at the then prevailing or last available market price. Any affected Pending Order(s) will be canceled. Nothing precludes the Client from closing the relevant position and canceling the affected Pending Orders prior to the expiry date. The expiry date for the relevant CFD shall be published on the Trading Platform and/or on the API and/or on the Website. 8.10. The Company may require the Client to close any Positions which it has with the Company and which may have been affected by Corporate Actions, Adjustment Events or product termination due to low/no liquidity, no price provider or other relevant persons, or the Company may in its sole discretion close any of such Positions at the last available prices.
Appears in 3 contracts
Samples: Client Agreement, Client Agreement, Client Agreement
Corporate Actions, Adjustment Events and Insolvency. 8.1. 8.1 A Corporate Action or Adjustment Event may occur in relation to the underlying asset of a CFD.
8.2. 8.2 If a Corporate Action or Adjustment Event occurs, the Company may take appropriate action (in its reasonable opinion) to:
8.2.1. 8.2.1 replicate this in the Order or Transaction;
8.2.2. 8.2.2 reflect any action taken by counterparties to trades in respect of such underlying assets of the CFD that the Provider has entered into in order to hedge or offset the Provider’s exposure to the Client; or
8.2.3. 8.2.3 preserve the economic equivalent of the Order or CFD Transaction immediately prior to the Corporate Action or Adjustment Event, which may have consequences on the Transaction.
8.3. 8.2.4 make any appropriate and/or necessary adjustments to the size and/or value and/or number of the related Transaction(s) (and or to the level of any Order) and/or to open or close any Transaction(s).
8.3 The Company will give the Client notice of any applicable action that it decides to take as soon as reasonably practicable, which for the avoidance of doubt may be after the relevant Corporate Action or Adjustment Event or after the relevant action which the Company may take in its discretion under this clause 8.
8.4. 8.4 If the price of the Underlying Asset that a CFD is based upon is suspended, the Company may, in its sole discretion, close any Open Positions in that CFD at a price that is reasonable. Such price may be different for a buy and sell Transaction and may be at a price of zero (0).
8.5. 8.5 The Company will notify the Client of the date and price at which such Open Position will be closed.
8.6. 8.6 The Company reserves the right to request additional Margin and/or any reasonably foreseeable associated costs incurred by the Company (or any of its affiliates) in connection with any suspension of a CFD or the relevant Underlying Asset.
8.7. 8.7 If an issuer, whose securities form the basis of a CFD, becomes insolvent or similar, the Company may close all Transactions on that CFD, generally at a price of zero (0).
8.8. 8.8 If the Client has an Open Position on any such CFD, the Company shall provide the Client with notice of this.
8.9. 8.9 Certain CFDs have an expiry date. On the expiry date, an open position on the expiring CFD will be closed automatically at the then prevailing or last available market price. Any affected Pending Order(s) will be canceled. Nothing precludes the Client from closing the relevant position and canceling the affected Pending Orders prior to the expiry date. The expiry date for the relevant CFD shall be published on the Trading Platform and/or on the API and/or on the Website.
8.10. 8.10 The Company may require the Client to close any Positions which it has with the Company and which may have been affected by Corporate Actions, Adjustment Events or product termination due to low/no liquidity, no price provider or other relevant persons, or the Company may in its sole discretion close any of such Positions at the last available prices. The Company may close any open positions prior to or following such Corporate Actions, Adjustment Events or Financial Instrument termination, at its sole discretion. The Company further reserves the right at its sole discretion upon written notice to remove and/or seize offering any Financial Instrument when any of the below occurs:
A. whenever a Corporate Action or Adjustment Event occurs;
B. whenever the issuance company of such Underlying Asset is delisted from the exchange to which the transactions relates and/or goes into insolvency, bankruptcy even if such an action does not result in the issuance company’s liquidation;
C. whenever the market capitalization of the Underlying Asset has been reduced below levels acceptable for the company;
D. if the trading volumes or market capitalization on underlying exchange(s) have fallen below Company’s acceptable thresholds as defined at the Company’s discretion;
E. if an instrument has ceased to be widely used or becomes very expensive for the Company to offer;
F. due to lack of quality pricing or pricing sources;
G. if the relevant Underlying Asset is in financial distress;
H. for any other event analogous to any of the above events or otherwise having a diluting or concentrating effect on the market value of shares or of any instrument not based on shares, whenever temporary or otherwise;
I. for any other reason determined at the Company’s sole discretion. The Company reserves further the right to proceed to any of the above actions without a written notice to the Client if there are valid reasons to do so or in an event or a circumstance out of Company’s control and/or a Force Majeure event.
Appears in 1 contract
Samples: Client Agreement
Corporate Actions, Adjustment Events and Insolvency. 8.1. 8.1 A Corporate Action or Adjustment Event may occur in relation to the underlying asset of a CFD.
8.2. 8.2 If a Corporate Action or Adjustment Event occurs, the Company may take appropriate action (in its reasonable opinion) to:
8.2.1. 8.2.1 replicate this in the Order or Transaction;
8.2.2. 8.2.2 reflect any action taken by counterparties to trades in respect of such underlying assets of the CFD that the Provider has entered into in order to hedge or offset the Provider’s exposure to the Client; or
8.2.3. 8.2.3 preserve the economic equivalent of the Order or CFD Transaction immediately prior to the Corporate Action or Adjustment Event, which may have consequences on the Transaction.
8.3. 8.3 The Company will give the Client notice of any applicable action that it decides to take as soon as reasonably practicable, which for the avoidance of doubt may be after the relevant Corporate Action or Adjustment Event or after the relevant action which the Company may take in its discretion under this clause 8.
8.4. 8.4 If the price of the Underlying Asset that a CFD is based upon is suspended, the Company may, in its sole discretion, close any Open Positions in that CFD at a price that is reasonable. Such price may be different for a buy and sell Transaction and may be at a price of zero (0).
8.5. 8.5 The Company will notify the Client of the date and price at which such Open Position will be closed.
8.6. 8.6 The Company reserves the right to request additional Margin and/or any reasonably foreseeable associated costs incurred by the Company (or any of its affiliates) in connection with any suspension of a CFD or the relevant Underlying Asset.
8.7. 8.7 If an issuer, whose securities form the basis of a CFD, becomes insolvent or similar, the Company may close all Transactions on that CFD, generally at a price of zero (0).
8.8. 8.8 If the Client has an Open Position on any such CFD, the Company shall provide the Client with notice of this.
8.9. 8.9 Certain CFDs have an expiry date. On the expiry date, an open position on the expiring CFD will be closed automatically at the then prevailing or last available market price. Any affected Pending Order(s) will be canceled. Nothing precludes the Client from closing the relevant position and canceling the affected Pending Orders prior to the expiry date. The expiry date for the relevant CFD shall be published on the Trading Platform and/or on the API and/or on the Website.
8.10. 8.10 The Company may require the Client to close any Positions which it has with the Company and which may have been affected by Corporate Actions, Adjustment Events or product termination due to low/no liquidity, no price provider or other relevant persons, or the Company may in its sole discretion close any of such Positions at the last available prices.no
Appears in 1 contract
Samples: Client Agreement
Corporate Actions, Adjustment Events and Insolvency. 8.1. 8.1 A Corporate Action or Adjustment Event may occur in relation to the underlying asset of a CFD.
8.2. 8.2 If a Corporate Action or Adjustment Event occurs, the Company may take appropriate action (in its reasonable opinion) to:
8.2.1. 8.2.1 replicate this in the Order or Transaction;
8.2.2. 8.2.2 reflect any action taken by counterparties to trades in respect of such underlying assets of the CFD that the Provider has entered into in order to hedge or offset the Provider’s exposure to the Client; or
8.2.3. 8.2.3 preserve the economic equivalent of the Order or CFD Transaction immediately prior to the Corporate Action or Adjustment Event, which may have consequences on the Transaction.
8.3. 8.3 The Company will give the Client notice of any applicable action that it decides to take as soon as reasonably practicable, which for the avoidance of doubt may be after the relevant Corporate Action or Adjustment Event or after the relevant action which the Company may take in its discretion under this clause 8.
8.4. 8.4 If the price of the Underlying Asset that a CFD is based upon is suspended, the Company may, in its sole discretion, close any Open Positions in that CFD at a price that is reasonable. Such price may be different for a buy and sell Transaction and may be at a price of zero (0).
8.5. 8.5 The Company will notify the Client of the date and price at which such Open Position will be closed.
8.6. 8.6 The Company reserves the right to request additional Margin and/or any reasonably foreseeable associated costs incurred by the Company (or any of its affiliates) in connection with any suspension of a CFD or the relevant Underlying Asset.
8.7. 8.7 If an issuer, whose securities form the basis of a CFD, becomes insolvent or similar, the Company may close all Transactions on that CFD, generally at a price of zero (0).
8.8. 8.8 If the Client has an Open Position on any such CFD, the Company shall provide the Client with notice of this.
8.9. 8.9 Certain CFDs have an expiry date. On the expiry date, an open position on the expiring CFD will be closed automatically at the then prevailing or last available market price. Any affected Pending Order(s) will be canceled. Nothing precludes the Client from closing the relevant position and canceling the affected Pending Orders prior to the expiry date. The expiry date for the relevant CFD shall be published on the Trading Platform and/or on the API and/or on the Website.
8.10. 8.10 The Company may require the Client to close any Positions which it has with the Company and which may have been affected by Corporate Actions, Adjustment Events or product termination due to low/no liquidity, no price provider or other relevant persons, or the Company may in its sole discretion close any of such Positions at the last available prices. The Company may close any open positions prior to or following such Corporate Actions, Adjustment Events or product termination, at its sole discretion. The Company further reserves the right to remove and/or seize offering this financial instrument.
1. Conflict of Interest
1.1 The Capital Markets (Online Foreign Exchange Trading Regulations), 2017 requires the Company to avoid any conflict of interest with Clients and, where such a conflict unavoidably arises, ensure fair treatment of the Client by complete disclosure or by declining to act while always ensuring the interests of the Company are never unfairly placed above those of the Client. The Company is responsible for taking all appropriate steps to identify and manage conflict of interest in its business that might arise and operates in accordance with a Conflicts of Interest policy in which the Company has identified those situations in which there might be a conflict of interest and controls in place to mitigate and manage such conflict which is available on the Website.
Appears in 1 contract
Samples: Client Agreement
Corporate Actions, Adjustment Events and Insolvency. 8.1. 8.1 A Corporate Action or Adjustment Event may occur in relation to the underlying asset of a CFD.
8.2. 8.2 If a Corporate Action or Adjustment Event occurs, the Company may take appropriate action (in its reasonable opinion) to:
8.2.1. 8.2.1 replicate this in the Order or Transaction;
8.2.2. 8.2.2 reflect any action taken by counterparties to trades in respect of such underlying assets of the CFD that the Provider has entered into in order to hedge or offset the Provider’s exposure to the Client; or
8.2.3. 8.2.3 preserve the economic equivalent of the Order or CFD Transaction immediately prior to the Corporate Action or Adjustment Event, which may have consequences on the Transaction.
8.3. 8.2.4 make any appropriate and/or necessary adjustments to the size and/or value and/or number of the related Transaction(s) (and or to the level of any Order) and/or to open or close any Transaction(s).
8.3 The Company will give the Client notice of any applicable action that it decides to take as soon as reasonably practicable, which for the avoidance of doubt may be after the relevant Corporate Action or Adjustment Event or after the relevant action which the Company may take in its discretion under this clause paragraph 8.
8.4. 8.4 If the price of the Underlying Asset that a CFD is based upon is suspended, the Company may, in its sole discretion, close any Open Positions in that CFD at a price that is reasonable. Such price may be different for a buy and sell Transaction and may be at a price of zero (0).
8.5. 8.5 The Company will notify the Client of the date and price at which such Open Position will be closed.
8.6. 8.6 The Company reserves the right to request additional Margin and/or any reasonably foreseeable associated costs incurred by the Company (or any of its affiliates) in connection with any suspension of a CFD or the relevant Underlying Asset.
8.7. 8.7 If an issuer, whose securities form the basis of a CFD, becomes insolvent or similar, the Company may close all Transactions on that CFD, generally at a price of zero (0).
8.8. 8.8 If the Client has an Open Position on any such CFD, the Company shall provide the Client with notice of this.
8.9. 8.9 Certain CFDs have an expiry date. On the expiry date, an open position on the expiring CFD will be closed automatically at the then prevailing or last available market price. Any affected Pending Order(s) will be canceled. Nothing precludes the Client from closing the relevant position and canceling the affected Pending Orders prior to the expiry date. The expiry date for the relevant CFD shall be published on the Trading Platform and/or on the API and/or on the Website.
8.10. 8.10 The Company may require the Client to close any Positions which it has with the Company and which may have been affected by Corporate Actions, Adjustment Events or product termination due to low/no liquidity, no price provider or other relevant personsreasons, or the Company may in its sole discretion close any of such Positions at the last available prices. The Company may close any open positions prior to or following such Corporate Actions, Adjustment Events or Financial Instrument termination, at its sole discretion. The Company further reserves the right at its sole discretion upon written notice to remove and/or cease offering any Financial Instrument when any of the below occurs:
A. whenever a Corporate Action or Adjustment Event occurs;
B. whenever the issuance company of such Underlying Asset is delisted from the exchange to which the transactions relates and/or goes into interim or final insolvency, bankruptcy or related or equivalent event or circumstance even if such an action does not result in the issuance company’s actual liquidation;
C. whenever the market capitalization of the Underlying Asset has been reduced below levels acceptable for the company;
D. if the trading volumes or market capitalization on underlying exchange(s) have fallen below Company’s acceptable thresholds as defined at the Company’s discretion;
E. if an instrument has ceased to be widely used or becomes very expensive for the Company to offer;
F. due to lack of quality pricing or pricing sources;
G. if the relevant Underlying Asset is in financial distress;
H. for any other event analogous to any of the above events or otherwise having a diluting or concentrating effect on the market value of shares or of any instrument not based on shares, whenever temporary or otherwise;
I. for any other reason determined at the Company’s sole discretion. The Company reserves further the right to proceed to any of the above actions without a written notice to the Client if there are valid reasons to do so or in an event or a circumstance out of Company’s control and/or a Force Majeure event.
Appears in 1 contract
Samples: Client Agreement
