Common use of Dealing Practice Clause in Contracts

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 reason of its/their failing, or being unable to comply with the terms of any limit or order undertaken on behalf of the Customer unless such loss results from the gross negligence, fraud or willful default of any of the Company's directors, employees or agents. Where the Company and/or its agents is/are for any reason whatsoever unable to perform the Customer's order in full, it may in its/their discretion effect partial performance only. The Customer shall in any event accept and be bound by the outcome when any request to execute orders is made. 12.5 Unless the Customer gives specific Instructions to the Company to the contrary, the Customer acknowledges that all Instructions are good for the day only and that they will lapse at the end of the official trading day of the Exchange in respect of which they are given. 12.6 The Company and any of its Associates, directors, officers, employees or agents may trade on its/their own account(s) from time to time on any Exchange or in any markets. 12.7 The Company shall exercise reasonable care in selecting but shall otherwise be entitled to use any broker or agent including any broker or agent which is related to or an Associate of the Company to execute any Instructions without any responsibility for any non- performance of such broker's or agent's failure to perform its duties and obligations or negligence, fraud, default or misconduct or act or omission. 12.8 The Company may subject to the provisions of the Ordinance and any applicable law, take the opposite position to the Customer's order in relation to any exchange traded futures and options contracts, whether on the Company's own account or for the account of its Associates or other clients of the Company, provided that such trade is executed competitively on or through the facilities of HKFE in accordance with its rules or the facilities of any other commodity, futures or options Exchange in accordance with the rules and regulations of such other Exchange. 12.9 The Customer acknowledges that the Clearing House may do all things necessary to transfer any open positions held by the Company on the Customer's behalf and any money and security standing to the credit of the Account with the Company to another exchange participant of HKFE in the event the rights of the Company as an exchange participant of HKFE are suspended or revoked. 12.10 The Customer acknowledges that the Company is bound by the Rules of HKFE which permit HKFE to take steps to limit the positions or require the closing out of contracts on behalf of such Customers who in the opinion of HKFE are accumulating positions which are or may be detrimental to any particular market or markets, or which are or may be capable of adversely affecting the fair and orderly operation of any market or markets as the case may be.

Dealing Practice. 12.1 The Customer acknowledges and agrees that once an order is placed to the Company MFL 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 ’s initial position is liquidated, provided always that the Company MFL 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 CompanyMFL, the Company MFL is acting solely as the Customer's ’s agent as to any Transaction made with the Company MFL by the Customer. The Company MFL shall have no obligation to but shall have the right at the discretion of the Company MFL to close any position in any account the Company MFL may carry on behalf of the Customer. Save as aforesaid the Company MFL shall have the right (in the absolute discretion of the Company MFL and without assigning any reason therefore) to refuse to act for the Customer in any particular Transaction. 12.3 The Company MFL may whenever the Company MFL 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 MFL 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 MFL 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 MFL 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 MFL 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 MFL 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 MFL 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 MFL and its agents shall not be liable for any loss howsoever arising by reason of its/their failing, or being unable to comply with the terms of any limit or order undertaken on behalf of the Customer unless such loss results from the gross negligence, fraud or willful default of any of the Company's MFL’s directors, employees or agents. Where the Company MFL and/or its agents is/are for any reason whatsoever unable to perform the Customer's ’s order in full, it may in its/their discretion effect partial performance only. The Customer shall in any event accept and be bound by the outcome when any request to execute orders is made. 12.5 Unless the Customer gives specific Instructions to the Company MFL to the contrary, the Customer acknowledges that all Instructions are good for the day only and that they will lapse at the end of the official trading day of the Exchange in respect of which they are given. 12.6 The Company MFL and any of its Associates, directors, officers, employees or agents may trade on its/their own account(s) from time to time on any Exchange or in any markets. 12.7 The Company MFL shall exercise reasonable care in selecting but shall otherwise be entitled to use any broker or agent including any broker or agent which is related to or an Associate of the Company MFL to execute any Instructions without any responsibility for any non- non-performance of such broker's ’s or agent's ’s failure to perform its duties and obligations or negligence, fraud, default or misconduct or act or omission. 12.8 The Company MFL may subject to the provisions of the Ordinance and any applicable law, take the opposite position to the Customer's ’s order in relation to any exchange traded futures and options contracts, whether on the Company's MFL’s own account or for the account of its Associates or other clients of the CompanyMFL, provided that such trade is executed competitively on or through the facilities of HKFE in accordance with its rules or the facilities of any other commodity, futures or options Exchange in accordance with the rules and regulations of such other Exchange. 12.9 The Customer acknowledges that the Clearing House may do all things necessary to transfer any open positions held by the Company MFL on the Customer's ’s behalf and any money and security standing to the credit of the Account with the Company MFL to another exchange participant of HKFE in the event the rights of the Company MFL as an exchange participant of HKFE are suspended or revoked. 12.10 The Customer acknowledges that the Company MFL is bound by the Rules of HKFE which permit HKFE to take steps to limit the positions or require the closing out of contracts on behalf of such Customers the Customer who in the opinion of HKFE are is accumulating positions which are or may be detrimental to any particular market or markets, or which are or may be capable of adversely affecting the fair and orderly operation of any market or markets as the case may be.

Dealing Practice. 12.1 The Customer acknowledges and agrees that once an order is placed to the Company MFL 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 ’s initial position is liquidated, provided always that the Company MFL 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 CompanyMFL, the Company MFL is acting solely as the Customer's ’s agent as to any Transaction made with the Company MFL by the Customer. The Company MFL shall have no obligation to but shall have the right at the discretion of the Company MFL to close any position in any account the Company MFL may carry on behalf of the Customer. Save as aforesaid the Company MFL shall have the right (in the absolute discretion of the Company MFL and without assigning any reason therefore) to refuse to act for the Customer in any particular Transaction. 12.3 The Company MFL may whenever the Company MFL 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 MFL 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 MFL 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 MFL 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 MFL 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 MFL 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 MFL 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 MFL and its agents shall not be liable for any loss howsoever arising by reason of its/their failing, or being unable to comply with the terms of any limit or order undertaken on behalf of the Customer unless such loss results from the gross negligence, fraud or willful default of any of the Company's MFL’s directors, employees or agents. Where the Company MFL and/or its agents is/are for any reason whatsoever unable to perform the Customer's ’s order in full, it may in its/their discretion effect partial performance only. The Customer shall in any event accept and be bound by the outcome when any request to execute orders is made. 12.5 Unless the Customer gives specific Instructions to the Company MFL to the contrary, the Customer acknowledges that all Instructions are good for the day only and that they will lapse at the end of the official trading day of the Exchange in respect of which they are given. 12.6 The Company MFL and any of its Associates, directors, officers, employees or agents may trade on its/their own account(s) from time to time on any Exchange or in any markets. 12.7 The Company MFL shall exercise reasonable care in selecting but shall otherwise be entitled to use any broker or agent including any broker or agent which is related to or an Associate of the Company MFL to execute any Instructions without any responsibility for any non- non-performance of such broker's ’s or agent's ’s failure to perform its duties and obligations or negligence, fraud, default or misconduct or act or omission. 12.8 The Company MFL may subject to the provisions of the Ordinance and any applicable law, take the opposite position to the Customer's ’s order in relation to any exchange traded futures and options contracts, whether on the Company's MFL’s own account or for the account of its Associates or other clients of the CompanyMFL, provided that such trade is executed competitively on or through the facilities of HKFE in accordance with its rules or the facilities of any other commodity, futures or options Exchange in accordance with the rules and regulations of such other Exchange. 12.9 The Customer acknowledges that the Clearing House may do all things necessary to transfer any open positions held by the Company MFL on the Customer's ’s behalf and any money and security standing to the credit of the Account with the Company MFL to another exchange participant of HKFE in the event the rights of the Company MFL as an exchange participant of HKFE are suspended or revoked. 12.10 The Customer acknowledges that the Company MFL is bound by the Rules of HKFE which permit HKFE to take steps to limit the positions or require the closing out of contracts on behalf of such Customers who in the opinion of HKFE are accumulating positions which are or may be detrimental to any particular market or markets, or which are or may be capable of adversely affecting the fair and orderly operation of any market or markets as the case may be.

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 ’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 ’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 10 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 reason of its/their failing, or being unable to comply with the terms of any limit or order undertaken on behalf of the Customer unless such loss results from the gross negligence, fraud or willful default of any of the Company's ’s directors, employees or agents. Where the Company and/or its agents is/are for any reason whatsoever unable to perform the Customer's ’s order in full, it may in its/their discretion effect partial performance only. The Customer shall in any event accept and be bound by the outcome when any request to execute orders is made. 12.5 Unless the Customer gives specific Instructions to the Company to the contrary, the Customer acknowledges that all Instructions are good for the day only and that they will lapse at the end of the official trading day of the Exchange in respect of which they are given. 12.6 The Company and any of its Associates, directors, officers, employees or agents may trade on its/their own account(s) from time to time on any Exchange or in any markets. 12.7 The Company shall exercise reasonable care in selecting but shall otherwise be entitled to use any broker or agent including any broker or agent which is related to or an Associate of the Company to execute any Instructions without any responsibility for any non- non-performance of such broker's ’s or agent's ’s failure to perform its duties and obligations or negligence, fraud, default or misconduct or act or omission. 12.8 The Company may subject to the provisions of the Ordinance and any applicable law, take the opposite position to the Customer's ’s order in relation to any exchange traded futures and options contracts, whether on the Company's ’s own account or for the account of its Associates or other clients of the Company, provided that such trade is executed competitively on or through the facilities of HKFE in accordance with its rules or the facilities of any other commodity, futures or options Exchange in accordance with the rules and regulations of such other Exchange. 12.9 The Customer acknowledges that the Clearing House may do all things necessary to transfer any open positions held by the Company on the Customer's ’s behalf and any money and security standing to the credit of the Account with the Company to another exchange participant of HKFE in the event the rights of the Company as an exchange participant of HKFE are suspended or revoked. 12.10 The Customer acknowledges that the Company is bound by the Rules of HKFE which permit HKFE to take steps to limit the positions or require the closing out of contracts on behalf of such Customers who in the opinion of HKFE are accumulating positions which are or may be detrimental to any particular market or markets, or which are or may be capable of adversely affecting the fair and orderly operation of any market or markets as the case may be.