Dealing Practice. 5.1 Any day order for purchase or sale of Securities placed by the Client that has not been executed before the close of trading hours of the relevant Exchange or such other expiration date required by the Exchange or such other later time as the Client and WLSL may agree shall be deemed to have been cancelled automatically.
5.2 The Client authorises WLSL, at any time and at WLSL’s absolute discretion, for the purpose of obtaining a better execution price and/or reducing the volume of instructions, to consolidate and/or disaggregate the Client’s Instructions to purchase and/or sell Securities on the Client’s behalf with similar instructions received from WLSL’s other Clients, provided that such consolidation or disaggregation shall not result in the execution of the Instructions at a price less favourable than could have been achieved had the Instructions been executed individually, and provided further that, in the event of there being insufficient Securities available to satisfy purchase orders so consolidated, the number of Securities actually purchased shall be given to each individual Instruction in the order in which those orders were received by WLSL.
5.3 The Client acknowledges that due to the trading practices of the Exchange or other markets in which Transactions are executed, it may not always be able to execute orders at the prices quoted “at best” or “of market” and the Client agrees in any event to be bound by Transactions executed by WLSL following Instructions given by the Client.
5.4 Subject to applicable laws and regulations and market requirements, WLSL may in its absolute discretion determine the priority in the execution of its Clients’ orders, having due regard to the sequence in which such orders were received, and the Client shall not have any claim of priority to another Client in relation to the execution of any order received by WLSL.
5.5 Unless otherwise agreed, in respect of each Transaction, unless WLSL is already holding cash or Securities on the Client’s behalf to settle the Transactions, the Client shall pay WLSL cleared funds (including payment in a currency other than Hong Kong dollars) or deliver to WLSL Securities which are fully paid with valid and good title and in deliverable form by such time as WLSL has notified the Client in relation to the Transactions. The Client shall be responsible to WLSL for any losses and expenses resulting from the Client’s settlement failures.
5.6 The Account shall be in Hong Kong dollars...
Dealing Practice. Any day order for purchase or sale of Securities placed by the Customer that has not been executed before the close of business of the relevant Exchange or such other expiration date required by the Exchange or such other later time as the Customer and the Company may agree shall be deemed to have been cancelled automatically.
Dealing Practice. 12.1 The Customer acknowledges and agrees that once an order is placed to the Company and executed, the Customer is required to take or make delivery of the Commodities or to settle the Contract by cash unless the Customer's initial position is liquidated, provided always that the Company may at its absolute discretion request for cash settlement of the Contract instead of physical settlement.
12.2 It is expressly understood that unless otherwise disclosed herein or to the Customer in writing in the usual manner of the Company, the Company is acting solely as the Customer's agent as to any Transaction made with the Company by the Customer. The Company shall have no obligation to but shall have the right at the discretion of the Company to close any position in any account the Company may carry on behalf of the Customer. Save as aforesaid the Company shall have the right (in the absolute discretion of the Company and without assigning any reason therefore) to refuse to act for the Customer in any particular Transaction.
12.3 The Company may whenever the Company considers it necessary sell any Commodities or other properties belonging to the Customer or in which the Customer has an interest or cancel any open orders for the purchase and sale of any commodities with or without notice to the Customer and the Company may borrow or buy any Commodities required to make delivery against any sale including a short sale effected for the Customer. Such sale or purchase may be public and may be made without advertising or notice to the Customer and in such manner as the Company may purchase the Commodities or properties free of any right or redemption and the Customer agrees that in respect of any such sale, the Company shall have no liability for any loss thereby incurred and without prejudice to the generality of the foregoing, the Customer will not make any claim against the Company concerning the manner of sale or time thereof. The proceeds of such Transaction are to be applied to reduce the indebtedness of the Customer to the Company if any.
12.4 Because of physical restraints on any Exchange and because of the very rapid changes in the prices of Contracts that frequently take place, there may, on occasions, be a delay in making prices or in dealing. The Company or its agent may not always be able to trade at the price or rates quoted at any specific time or "at best" or "at market". The Company and its agents shall not be liable for any loss howsoever arising by...
Dealing Practice. 2.1 The Company is hereby authorized to act upon the instruction of the Client to deposit, purchase and/or sell securities for the Account(s) and otherwise deal with securities, receivables or monies held in for the Account(s).
2.2 Notwithstanding anything herein contained, the Company shall be entitled, at its absolute discretion, to refuse to act on any of the Client’s instructions and shall not be obliged to give any reason for such refusal. In particular and without prejudice to Clause 4.1, the Company may refuse to act on an instruction of the Client if at the time of such instruction, there are insufficient securities to effect settlement of the relevant transaction on the due settlement date.
2.3 The Client acknowledges that telephone calls or other forms of communication between the Client and the Company may be recorded or otherwise electronically monitored without any warning messages and that the record may be used as final and conclusive evidence of the instructions in case of disputes. While such tapes will remain the property of the Company, the Company will provide to the Client on the Client’s request and at the Client’s expense a copy of such tape.
2.4 The Client shall immediately notify the Company after payment of funds to the Company by delivering to the Company evidence of such payment. The Client acknowledges that payment of funds to the Company may not be accredited to the Client’s Account or reflected in any account statement until such notification is received by the Company. The Client agrees that any interest payable to the Company under Clauses 5.2 shall be calculated on this basis.
2.5 Request to cancel or amend the Client’s orders is only possible before the orders are executed. In the case of full or partial execution of the Client’s cancelled orders, the Client agrees to accept full responsibility for the transactions.
2.6 By reason of physical restraints and rapid changes of securities prices, the Company may not always be able to execute the Client’s orders in full or at the prices quoted at any specific time or "at best" or "at market" and the Client agrees to be bound by such executions.
2.7 Market orders may result in unfavorable executions owing to volatile market conditions. Moreover, cancellation of market orders is rarely possible as they are subject to immediate execution.
2.8 The Client’s trading orders are good for the day unless the Client specifies otherwise.
2.9 The Company shall not be liable for any delay or...
Dealing Practice. 6.1 All instructions relating to Securities Transactions must be given by the Customer in such manner and contain such details as the Bank shall prescribe in its discretion and subject to any applicable law, rule, regulation or order, or any direction, guideline, notice or restriction (whether or not having the force of law) issued by any competent authority, government agency, exchange or body. Where instructions are given in writing, they must be in such form and manner prescribed by the Bank from time to time and duly signed in accordance with the Agreed Signing Arrangement. Any instruction which is found by the Bank to be defective in any respect is liable to be rejected by the Bank without notice to the Customer. The Customer acknowledges that it has the sole responsibility to verify that all instructions to the Bank are precise and given in the prescribed manner and contain the required details and the Bank shall have no obligation to notify the Customer of any defective instruction.
6.2 Unless it is otherwise accepted by the Bank, no instruction from the Customer (written or verbal) relating to Securities Transactions are effective if received by the Bank outside the Bank's business hours prescribed for the conduct of Securities Transactions.
6.3 The Customer may not withdraw any instruction relating to Securities Transactions after such instruction has been given to and accepted by the Bank unless the Bank consents to the withdrawal or is otherwise permitted by law. In giving its consent to such withdrawal, the Bank may impose such conditions, including indemnity for costs and expenses, as the Bank may reasonably deem fit.
6.4 Save as herein specifically provided otherwise, all Securities Transactions shall be subject to the prevailing market practice in HKSAR or in any other places in which the Bank is dealing on the Customer's behalf therefor and the relevant provisions of the constitution, rules, regulation, bye‐laws, orders, directions, practice notes, customs and usage of the Exchange and the Clearing House and of the laws of HKSAR or such other relevant places as amended from time to time. The Bank or its Nominee may refrain from doing anything which would or might in the Bank's reasonable opinion be contrary to any law or directive or otherwise render the Bank or its Nominee liable to any person and may do anything which is in the Bank's opinion necessary to comply with any such law or directive. All actions taken by the Bank in accordance w...
Dealing Practice. 5.1 Any day order for purchase or sale of Securities placed by the Customer that has not been executed before the close of trading hours of the relevant Exchange or such other expiration date required by the Exchange or such other later time as the Customer and CMSHK may agree shall be deemed to have been cancelled automatically.
