Dealing. 7.1 We may execute your dealing instructions upon or in accordance with the rules of any market or exchange and through any clearing house selected by us. We may enter into transactions for or with VARIANSE is a trading name of VDX Derivatives. VDX Derivatives is authorised and regulated by the Financial Services Commission (FSC) in the republic of Mauritius with License Number C118023323. Registered Address: 00 Xx Xxxxxxx Xxxxxx, Xxxx Xxxxx, Xxxxxxxxx. you which are not on or in accordance with the rules of any exchange for example, off-exchange transactions in foreign currencies, or in other non-readily realisable investments. 7.2 Assets and profits arising on closing a position, settlement or liquidation will be credited to your Account and losses will be debited from your Account. Any debit balance arising as a result of any close-out, settlement or liquidation will be payable by you forthwith whether or not demanded by us. 7.3 We shall be entitled to carry out all transactions in accordance with the rules, regulations, customs or practices of the relevant market, exchange and / or clearing house and all applicable laws whether imposed on you or us. We may take all such steps as may be required or permitted by such laws, rules, regulations, customs and / or market practice. We will be entitled to take or not take any reasonable action we consider fit in order to ensure compliance with the same and all such actions so taken will be binding upon you. 7.4 You agree that any transactions we effect for you will be subject to the rules, regulations, customs and practices of each relevant market, exchange, or clearing house on, through or with which we deal. 7.5 In order to give effect to your dealing instructions, we may at our discretion instruct an intermediate broker selected by us (which may be an Associate of ours). We accept full liability for any default by an intermediate broker which is our Associate, and undertake to use reasonable care and skill in the appointment and supervision of any intermediate broker and to make available to you and take, at your cost and expense, such action on your behalf as you may reasonably request in relation to any rights we have against such intermediate broker. Subject to this we accept no liability for any default of any intermediate broker nor do we accept any liability in relation to the default of any market, exchange or clearing house. 7.6 In executing transactions for or with you we will always deal with you as principal unless we have otherwise informed you. While we will take reasonable steps to obtain the best price available When we execute an order on your behalf we will take all reasonable steps to obtain the best possible result for you taking into account a number of relevant factors. 7.7 Where we are unable or consider it undesirable or inappropriate to execute your order at once or in a single transaction we may execute it over such period as we deem appropriate and we may report to you an average price for a series of transactions so executed instead of the actual price of each transaction. 7.8 We may undertake a program trade or trades comprising a single transaction or series of transactions on your behalf. In doing so we will always act as principal. 7.9 We reserve the right to refuse any trades placed by you that we judge to be clearly outside the prevailing market price such that they may be deemed non-market price transactions, whether due to manifest human error or stale, incorrect or broken price feeds. Where we have opened or closed a trade before becoming aware of the price disparity, we may at our absolute discretion either treat that trade as void or accept that trade at the prevailing market price. 7.10 As a client of ours you hereby accept that the prices quoted by other companies may not be relied upon by you in respect of your account with us and that we reserve the right to decline any quote or refuse to be bound to any contract, including those arising from any manipulation of the quoting mechanism or our services generally, notwithstanding our undertaking to provide a clear and fair service to you at all times. 7.11 We may hedge our liability to you by opening analogous positions with other institutions or in the Underlying Market. The result of our doing this is that when you open or close a Transaction relating to a share or other Instrument with us, your Transactions can, through our hedging, exert a distorting influence VARIANSE | Client Agreement Page 7 of 31 VARIANSE is a trading name of VDX Derivatives. VDX Derivatives is authorised and regulated by the Financial Services Commission (FSC) in the republic of Mauritius with License Number C118023323. Registered Address: 00 Xx Xxxxxxx Xxxxxx, Xxxx Xxxxx, Xxxxxxxxx. on the Underlying Market for that Instrument, in addition to the impact that it may have on our own prices. This creates a possibility of market abuse and the function of this Term is to prevent such abuse. You represent and warrant to us now, and agree that each such representation and warranty is deemed repeated each time you open or close a Transaction, that: a. you will not open and have not opened a Transaction or Transactions with us relating to a particular asset price if to do so would result in you, or others with whom you are acting in concert together, having an exposure to the asset price that is equal to or exceeds the amount of a declarable interest in the relevant company. For this purpose the level of a declarable interest will be the prevailing level at the material time, set by law or by the stock exchange(s) on which the underlying share is listed; b. you will not open and have not opened a Transaction with us in connection with: i. a placing, issue, distribution or other analogous event; or ii. an offer, take-over, merger or other analogous event, in which you are involved or otherwise interested; and c. you will not open and have not opened a Transaction that contravenes any primary or secondary legislation or other law against insider dealing or market manipulation. For the purposes of this clause you agree that we may proceed on the basis that when you open or close a Transaction with us on a share price, you may be treated as dealing ‘in an Investment or a related investment’ within the meaning of the Markets Rules and relevant laws. 7.12 In the event that (a) you open any Transaction in breach of the representations and warranties given in this Agreement, or (b) we have reasonable grounds for suspecting that you have done so, we may, at our absolute discretion and without being under any obligation to inform you of our reason for doing so, close that Transaction and any other Transactions that you may have open at the time and also, at our absolute discretion: a. enforce the Transaction or Transactions against you if it is a Transaction or Transactions under which you have incurred a loss; or b. treat all your Transactions closed under this clause as void if they are Transactions under which you have secured a profit, unless and until you produce evidence that satisfies us that you have not, in fact, committed the breach of warranty and/or misrepresentation the suspicion of which was the ground for closing your Transaction(s). For the avoidance of doubt, if you do not produce such evidence within the period of six months from the date on which such Transaction was opened, all such Transactions will be finally null and void as between you and us. 7.13 You acknowledge that the Transactions in which you deal with us are speculative instruments and you agree that you will not open any Transactions with us in connection with any corporate finance style activity. 7.14 You acknowledge that it would be improper for you to deal in the Underlying Market if the sole purpose of such a transaction was to impact on our bid or offer prices, and you agree not to conduct any such transactions. If we reasonably suspect that you have performed abusive trading we may, at its absolute discretion, at any time and without prior Written Notice, take one or more of the following actions: a. Terminate this Agreement immediately without prior notice to the Client; b. Cancel any Open Positions; VARIANSE is a trading name of VDX Derivatives. VDX Derivatives is authorised and regulated by the Financial Services Commission (FSC) in the republic of Mauritius with License Number C118023323. Registered Address: 00 Xx Xxxxxxx Xxxxxx, Xxxx Xxxxx, Xxxxxxxxx. c. Temporarily or permanently bar access to the Trading Platform or suspend or prohibit any functions of the Trading Platform; d. Reject or Decline or refuse to transmit or execute any Order of the Client; e. Restrict the Client’s trading activity; f. In the case of fraud, reverse the funds back to real owner or according to the instructions of the law enforcement authorities of the relevant country; g. Cancel or reverse of profits gained through abusive trading in the Client Account; h. Take legal action for any losses suffered by the Company. 7.15 The Company has the right, at any time and for any reason and without giving any notice and/or explanation, to refuse, at its discretion, to execute any Order, including without limitation in the following cases: a. If the Company has adequate reasons to suspect that the execution of an Order is part of an attempt to manipulate the market, trading on inside information, relates to money laundering activities or terrorist financing or fraud or if it can potentially affect in any manner the reliability, efficiency, or smooth operation of the Trading Platform. b. If the Client does not have sufficient available funds deposited with the Company or in his bank account to pay the purchase price of an Order along with the respective fees and commissions necessary to carry out the transaction in the Trading Platform. In the event that the Company does refuse to execute an order, such refusal will not affect any obligation which the Client may have towards the Company or any right which the Company may have against the Client or his assets.
Appears in 2 contracts
Samples: Client Agreement, Client Agreement
Dealing. 7.1 We may execute your dealing instructions upon or in accordance with the rules of any market or exchange and through any clearing house selected by us. We may enter into transactions for or with VARIANSE is a trading name of VDX Derivatives. VDX Derivatives is authorised and regulated by the Financial Services Commission (FSC) in the republic of Mauritius with License Number C118023323. Registered Address: 00 Xx Xxxxxxx Xxxxxx, Xxxx Xxxxx, Xxxxxxxxx. you which are not on or in accordance with the rules of any exchange for example, off-exchange transactions in foreign currencies, or in other non-readily realisable investments.
7.2 Assets and profits arising on closing a position, settlement or liquidation will be credited to your Account and losses will be debited from your Account. Any debit balance arising as a result of any close-out, settlement or liquidation will be payable by you forthwith whether or not demanded by us.
7.3 We shall be entitled to carry out all transactions in accordance with the rules, regulations, customs or practices of the relevant market, exchange and / or clearing house and all applicable laws whether imposed on you or us. We may take all such steps as may be required or permitted by such laws, rules, regulations, customs and / or market practice. We will be entitled to take or not take any reasonable action we consider fit in order to ensure compliance with the same and all such actions so taken will be binding upon you.
7.4 You agree that any transactions we effect for you will be subject to the rules, regulations, customs and practices of each relevant market, exchange, or clearing house on, through or with which we deal.
7.5 In order to give effect to your dealing instructions, we may at our discretion instruct an intermediate broker selected by us (which may be an Associate of ours). We accept full liability for any default by an intermediate broker which is our Associate, and undertake to use reasonable care and skill in the appointment and supervision of any intermediate broker and to make available to you and take, at your cost and expense, such action on your behalf as you may reasonably request in relation to any rights we have against such intermediate broker. Subject to this we accept no liability for any default of any intermediate broker nor do we accept any liability in relation to the default of any market, exchange or clearing house.
7.6 In executing transactions for or with you we will always deal with you as principal unless we have otherwise informed youprincipal. While we will take reasonable steps to obtain the best price available When you agree and acknowledge that save as required we execute an order on your behalf we will take all reasonable steps are under no obligation to obtain the provide you with best possible result for execution in accordance and you taking into account a number of relevant factorshereby waive any such requirements.
7.7 We may at our discretion aggregate your orders with our own orders or those of other clients of ours or our Associates. We will allocate the proceeds of such orders among the participating accounts in a manner which we believe to be fair and equitable. If the combined order is not executed at the same price we may average the prices paid or received and debit or credit your Account with the average net price. Details of average price will be furnished on request. Such allocation must take place within five business days of execution. In aggregating your orders in this way we must reasonably believe this will be to your advantage, for instance to obtain better execution or reduced foreign exchange or other dealing costs by being part of a larger transaction. However, on occasion, aggregation and allocation may result in you obtaining a less favourable price.
7.8 Where we are unable or consider it undesirable or inappropriate to execute your order at once or in a single transaction we may execute it over such period as we deem appropriate and we may report to you an average price for a series of transactions so executed instead of the actual price of each transaction.
7.8 7.9 We may undertake a program trade or trades comprising a single transaction or series of transactions on your behalf. In doing so we will always act as principal.
7.9 7.10 We reserve the right to refuse any trades placed by you that we judge to be clearly outside the prevailing market price such that they may be deemed non-market price transactions, whether due to manifest human error or stale, incorrect or broken price feeds. Where we have opened or closed a trade before becoming aware of the price disparity, we may at our absolute discretion either treat that trade as void or accept that trade at the prevailing market price.
7.10 7.11 As a client of ours you hereby accept that the prices quoted by other companies may not be relied upon by you in respect of your account with us and that we reserve the right to decline any quote or refuse to be bound to any contract, including those arising from any manipulation of the quoting mechanism or our services generally, notwithstanding our undertaking to provide a clear and fair service to you at all times.
7.11 We may hedge our liability to you by opening analogous positions with other institutions or in the Underlying Market. The result of our doing this is that when you open or close a Transaction relating to a share or other Instrument with us, your Transactions can, through our hedging, exert a distorting influence VARIANSE | Client Agreement Page 7 of 31 VARIANSE is a trading name of VDX Derivatives. VDX Derivatives is authorised and regulated by the Financial Services Commission (FSC) in the republic of Mauritius with License Number C118023323. Registered Address: 00 Xx Xxxxxxx Xxxxxx, Xxxx Xxxxx, Xxxxxxxxx. on the Underlying Market for that Instrument, in addition to the impact that it may have on our own prices. This creates a possibility of market abuse and the function of this Term is to prevent such abuse. You represent and warrant to us now, and agree that each such representation and warranty is deemed repeated each time you open or close a Transaction, that:
a. you will not open and have not opened a Transaction or Transactions with us relating to a particular asset price if to do so would result in you, or others with whom you are acting in concert together, having an exposure to the asset price that is equal to or exceeds the amount of a declarable interest in the relevant company. For this purpose the level of a declarable interest will be the prevailing level at the material time, set by law or by the stock exchange(s) on which the underlying share is listed;
b. you will not open and have not opened a Transaction with us in connection with: i. a placing, issue, distribution or other analogous event; or
ii. an offer, take-over, merger or other analogous event, in which you are involved or otherwise interested; and
c. you will not open and have not opened a Transaction that contravenes any primary or secondary legislation or other law against insider dealing or market manipulation. For the purposes of this clause you agree that we may proceed on the basis that when you open or close a Transaction with us on a share price, you may be treated as dealing ‘in an Investment or a related investment’ within the meaning of the Markets Rules and relevant laws.
7.12 In the event that (a) you open any Transaction in breach of the representations and warranties given in this Agreement, or (b) we have reasonable grounds for suspecting that you have done so, we may, at our absolute discretion and without being under any obligation to inform you of our reason for doing so, close that Transaction and any other Transactions that you may have open at the time and also, at our absolute discretion:
a. enforce the Transaction or Transactions against you if it is a Transaction or Transactions under which you have incurred a loss; or
b. treat all your Transactions closed under this clause as void if they are Transactions under which you have secured a profit, unless and until you produce evidence that satisfies us that you have not, in fact, committed the breach of warranty and/or misrepresentation the suspicion of which was the ground for closing your Transaction(s). For the avoidance of doubt, if you do not produce such evidence within the period of six months from the date on which such Transaction was opened, all such Transactions will be finally null and void as between you and us.
7.13 You acknowledge that the Transactions in which you deal with us are speculative instruments and you agree that you will not open any Transactions with us in connection with any corporate finance style activity.
7.14 You acknowledge that it would be improper for you to deal in the Underlying Market if the sole purpose of such a transaction was to impact on our bid or offer prices, and you agree not to conduct any such transactions. If we reasonably suspect that you have performed abusive trading we may, at its absolute discretion, at any time and without prior Written Notice, take one or more of the following actions:
a. Terminate this Agreement immediately without prior notice to the Client;
b. Cancel any Open Positions; VARIANSE is a trading name of VDX Derivatives. VDX Derivatives is authorised and regulated by the Financial Services Commission (FSC) in the republic of Mauritius with License Number C118023323. Registered Address: 00 Xx Xxxxxxx Xxxxxx, Xxxx Xxxxx, Xxxxxxxxx.
c. Temporarily or permanently bar access to the Trading Platform or suspend or prohibit any functions of the Trading Platform;
d. Reject or Decline or refuse to transmit or execute any Order of the Client;
e. Restrict the Client’s trading activity;
f. In the case of fraud, reverse the funds back to real owner or according to the instructions of the law enforcement authorities of the relevant country;
g. Cancel or reverse of profits gained through abusive trading in the Client Account;
h. Take legal action for any losses suffered by the Company.
7.15 The Company has the right, at any time and for any reason and without giving any notice and/or explanation, to refuse, at its discretion, to execute any Order, including without limitation in the following cases:
a. If the Company has adequate reasons to suspect that the execution of an Order is part of an attempt to manipulate the market, trading on inside information, relates to money laundering activities or terrorist financing or fraud or if it can potentially affect in any manner the reliability, efficiency, or smooth operation of the Trading Platform.
b. If the Client does not have sufficient available funds deposited with the Company or in his bank account to pay the purchase price of an Order along with the respective fees and commissions necessary to carry out the transaction in the Trading Platform. In the event that the Company does refuse to execute an order, such refusal will not affect any obligation which the Client may have towards the Company or any right which the Company may have against the Client or his assets.
Appears in 2 contracts
Samples: Service Agreement, Service Agreement
Dealing. 7.1 6.1. We may execute your dealing instructions upon or in accordance with the rules of any market or exchange and through any clearing house selected by us. We may enter into transactions for or with VARIANSE is a trading name of VDX Derivatives. VDX Derivatives is authorised and regulated by the Financial Services Commission (FSC) in the republic of Mauritius with License Number C118023323. Registered Address: 00 Xx Xxxxxxx Xxxxxx, Xxxx Xxxxx, Xxxxxxxxx. you which are not on or in accordance with the rules of any exchange for example, off-exchange transactions in foreign currencies, or in other non-readily realisable investments.
7.2 6.2. Assets and profits arising on closing a position, settlement or liquidation will be credited to your Account and losses will be debited from your Account. Any debit balance arising as a result of any close-out, settlement or liquidation will be payable by you forthwith whether or not demanded by us.
7.3 6.3. We shall be entitled to carry out all transactions in accordance with the rules, regulations, customs or practices of the relevant market, exchange and / or clearing house and all applicable laws whether imposed on you or us. We may take all such steps as may be required or permitted by such laws, rules, regulations, customs and / or market practice. We will be entitled to take or not take any reasonable action we consider fit in order to ensure compliance with the same and all such actions so taken will be binding upon you.
7.4 6.4. You agree that any transactions we effect for you will be subject to the rules, regulations, customs and practices of each relevant market, exchange, or clearing house on, through or with which we deal.
7.5 6.5. In order to give effect to your dealing instructions, we may at our discretion instruct an intermediate broker selected by us (which may be an Associate of ours). We accept full liability for any default by an intermediate broker which is our Associate, and undertake to use reasonable care and skill in the appointment and supervision of any intermediate broker and to make available to you and take, at your cost and expense, such action on your behalf as you may reasonably request in relation to any rights we have against such intermediate broker. Subject to this we accept no liability for any default of any intermediate broker nor do we accept any liability in relation to the default of any market, exchange or clearing house.
7.6 6.6. In executing transactions for or with you we will always deal with you as principal unless we have otherwise informed youprincipal. While we will take reasonable steps to obtain the best price available When you agree and acknowledge that save as required by the FCA Rules we execute an are under no obligation to provide you with best execution in accordance with the FCA Rules and you hereby waive any such requirements.
6.7. We may at our discretion aggregate your orders with our own orders or those of other clients of ours or our Associates. We will allocate the proceeds of such orders among the participating accounts in a manner which we believe to be fair and equitable. If the combined order is not executed at the same price, we may average the prices paid or received and debit or credit your Account with the average net price. Details of average price will be furnished on request. Such allocation must take place within five business days of execution. In aggregating your behalf orders in this way, we must reasonably believe this will take all reasonable steps be to your advantage, for instance to obtain better execution or reduced foreign exchange or other dealing costs by being part of a larger transaction. However, on occasion, aggregation and allocation may result in you obtaining a less favourable price. Doo Clearing Limited is registered in England and Wales with registration number 10684079 and is authorised and regulated by the best possible result for you taking into account a Financial Conduct Authority with license number of relevant factors.833414 Xxxxxxx@xxxxxxxxxxx.xx.xx | Xxxxxxx Xxxxx, 00 Xxxxxxx Xxxx, Xxxxxx XX0X 0XX, XX | +00 00 0000 0000
7.7 6.8. Where we are unable or consider it undesirable or inappropriate to execute your order at once or in a single transaction transaction, we may execute it over such period as we deem appropriate and we may report to you an average price for a series of transactions so executed instead of the actual price of each transaction.
7.8 6.9. We may undertake a program trade or trades comprising a single transaction or series of transactions on your behalf. In doing so we will always act as principal.
7.9 6.10. We reserve the right to refuse any trades placed by you that we judge to be clearly outside the prevailing market price such that they may be deemed non-market price transactions, whether due to manifest human error or stale, incorrect or broken price feeds. Where we have opened or closed a trade before becoming aware of the price disparity, we may at our absolute discretion either treat that trade as void or accept that trade at the prevailing market price.
7.10 6.11. We are not a market maker and may show prices at which our liquidity providers are prepared to deal with our clients and such prices may or may not replicate the prices quoted and traded by other companies and / or their customers. As a client of ours you hereby accept that the prices quoted by other companies may not be relied upon by you in respect of your account with us and that we reserve the right to decline any quote or refuse to be bound to any contract, including those arising from any manipulation of the quoting mechanism or our services generally, notwithstanding our undertaking to provide a clear and fair service to you at all times.
7.11 We may hedge our liability to you by opening analogous positions with other institutions or in the Underlying Market. The result of our doing this is that when you open or close a Transaction relating to a share or other Instrument with us, your Transactions can, through our hedging, exert a distorting influence VARIANSE | Client Agreement Page 7 of 31 VARIANSE is a trading name of VDX Derivatives. VDX Derivatives is authorised and regulated by the Financial Services Commission (FSC) in the republic of Mauritius with License Number C118023323. Registered Address: 00 Xx Xxxxxxx Xxxxxx, Xxxx Xxxxx, Xxxxxxxxx. on the Underlying Market for that Instrument, in addition to the impact that it may have on our own prices. This creates a possibility of market abuse and the function of this Term is to prevent such abuse. You represent and warrant to us now, and agree that each such representation and warranty is deemed repeated each time you open or close a Transaction, that:
a. you will not open and have not opened a Transaction or Transactions with us relating to a particular asset price if to do so would result in you, or others with whom you are acting in concert together, having an exposure to the asset price that is equal to or exceeds the amount of a declarable interest in the relevant company. For this purpose the level of a declarable interest will be the prevailing level at the material time, set by law or by the stock exchange(s) on which the underlying share is listed;
b. you will not open and have not opened a Transaction with us in connection with: i. a placing, issue, distribution or other analogous event; or
ii. an offer, take-over, merger or other analogous event, in which you are involved or otherwise interested; and
c. you will not open and have not opened a Transaction that contravenes any primary or secondary legislation or other law against insider dealing or market manipulation. For the purposes of this clause you agree that we may proceed on the basis that when you open or close a Transaction with us on a share price, you may be treated as dealing ‘in an Investment or a related investment’ within the meaning of the Markets Rules and relevant laws.
7.12 In the event that (a) you open any Transaction in breach of the representations and warranties given in this Agreement, or (b) we have reasonable grounds for suspecting that you have done so, we may, at our absolute discretion and without being under any obligation to inform you of our reason for doing so, close that Transaction and any other Transactions that you may have open at the time and also, at our absolute discretion:
a. enforce the Transaction or Transactions against you if it is a Transaction or Transactions under which you have incurred a loss; or
b. treat all your Transactions closed under this clause as void if they are Transactions under which you have secured a profit, unless and until you produce evidence that satisfies us that you have not, in fact, committed the breach of warranty and/or misrepresentation the suspicion of which was the ground for closing your Transaction(s). For the avoidance of doubt, if you do not produce such evidence within the period of six months from the date on which such Transaction was opened, all such Transactions will be finally null and void as between you and us.
7.13 You acknowledge that the Transactions in which you deal with us are speculative instruments and you agree that you will not open any Transactions with us in connection with any corporate finance style activity.
7.14 You acknowledge that it would be improper for you to deal in the Underlying Market if the sole purpose of such a transaction was to impact on our bid or offer prices, and you agree not to conduct any such transactions. If we reasonably suspect that you have performed abusive trading we may, at its absolute discretion, at any time and without prior Written Notice, take one or more of the following actions:
a. Terminate this Agreement immediately without prior notice to the Client;
b. Cancel any Open Positions; VARIANSE is a trading name of VDX Derivatives. VDX Derivatives is authorised and regulated by the Financial Services Commission (FSC) in the republic of Mauritius with License Number C118023323. Registered Address: 00 Xx Xxxxxxx Xxxxxx, Xxxx Xxxxx, Xxxxxxxxx.
c. Temporarily or permanently bar access to the Trading Platform or suspend or prohibit any functions of the Trading Platform;
d. Reject or Decline or refuse to transmit or execute any Order of the Client;
e. Restrict the Client’s trading activity;
f. In the case of fraud, reverse the funds back to real owner or according to the instructions of the law enforcement authorities of the relevant country;
g. Cancel or reverse of profits gained through abusive trading in the Client Account;
h. Take legal action for any losses suffered by the Company.
7.15 The Company has the right, at any time and for any reason and without giving any notice and/or explanation, to refuse, at its discretion, to execute any Order, including without limitation in the following cases:
a. If the Company has adequate reasons to suspect that the execution of an Order is part of an attempt to manipulate the market, trading on inside information, relates to money laundering activities or terrorist financing or fraud or if it can potentially affect in any manner the reliability, efficiency, or smooth operation of the Trading Platform.
b. If the Client does not have sufficient available funds deposited with the Company or in his bank account to pay the purchase price of an Order along with the respective fees and commissions necessary to carry out the transaction in the Trading Platform. In the event that the Company does refuse to execute an order, such refusal will not affect any obligation which the Client may have towards the Company or any right which the Company may have against the Client or his assets.
Appears in 1 contract
Samples: Terms and Conditions
Dealing. 7.1 We may execute your dealing instructions upon or in accordance with the rules of any market or exchange and through any clearing house selected by us. We may enter into transactions for or with VARIANSE is a trading name of VDX Derivatives. VDX Derivatives is authorised and regulated by the Financial Services Commission (FSC) in the republic of Mauritius with License Number C118023323. Registered Address: 00 Xx Xxxxxxx Xxxxxx, Xxxx Xxxxx, Xxxxxxxxx. you which are not on or in accordance with the rules of any exchange for example, off-exchange transactions in foreign currencies, or in other non-readily realisable investments.
7.2 Assets and profits arising on closing a position, settlement or liquidation will be credited to your Account and losses will be debited from your Account. Any debit balance arising as a result of any close-out, settlement or liquidation will be payable by you forthwith whether or not demanded by us.
7.3 We shall be entitled to carry out all transactions in accordance with the rules, regulations, customs or practices of the relevant market, exchange and / or clearing house and all applicable laws whether imposed on you or us. We may take all such steps as may be required or permitted by such laws, rules, regulations, customs and / or market practice. We will be entitled to take or not take any reasonable action we consider fit in order to ensure compliance with the same and all such actions so taken will be binding upon you.
7.4 You agree that any transactions we effect for you will be subject to the rules, regulations, customs and practices of each relevant market, exchange, or clearing house on, through or with which we deal.
7.5 In order to give effect to your dealing instructions, we may at our discretion instruct an intermediate broker selected by us (which may be an Associate of ours). We accept full liability for any default by an intermediate broker which is our Associate, and undertake to use reasonable care and skill in the appointment and supervision of any intermediate broker and to make available to you and take, at your cost and expense, such action on your behalf as you may reasonably request in relation to any rights we have against such intermediate broker. Subject to this we accept no liability for any default anydefault of any intermediate broker nor do we accept any liability in relation to the default of any market, exchange or clearing house.
7.6 In executing transactions for or with you we will always deal with you as principal unless we have otherwise informed youprincipal. While we will take reasonable steps to obtain the best price available When you agree and acknowledge that save as required by the FCA Rules we execute an order on your behalf we will take all reasonable steps are under no obligation to obtain provide you with best execution in accordance with the best possible result for FCA Rules and you taking into account a number of relevant factorshereby waive any such requirements.
7.7 We may at our discretion aggregate your orders with our own orders or those of other clients of ours or our Associates. We will allocate the proceeds of such orders among the participating accounts in a manner which we believe to be fair and equitable. If the combined order is not executed at the same price we may average the prices paid or received and debit or credit your Account with the average net price. Details of average price will be furnished on request. Such allocation must take place within five business days of execution. In aggregating your orders in this way we must reasonably believe this will be to your advantage, for instance to obtain better execution or reduced foreign exchange or other dealing costs by being part of a larger transaction. However, on occasion, aggregation and allocation may result in you obtaining a less favourable price.
7.8 Where we are unable or consider it undesirable or inappropriate to execute your order at once or in a single transaction we may execute it over such period as we deem appropriate and we may report to you an average price for a series of transactions so executed instead of the actual price of each transaction.
7.8 7.9 We may undertake a program trade or trades comprising a single transaction or series of transactions on your behalf. In doing so we will always act as principal.
7.9 7.10 We reserve the right to refuse any trades placed by you that we judge to be clearly outside the prevailing market price such that they may be deemed non-market price transactions, whether due to manifest human error or stale, incorrect or broken price feeds. Where we have opened or closed a trade before becoming aware of the price disparity, we may at our absolute discretion either treat that trade as void or accept that trade at the prevailing market price.
7.10 7.11 As a client of ours you hereby accept that the prices quoted by other companies may not be relied upon by you in respect of your account with us and that we reserve the right to decline any quote anyquote or refuse to be bound to any contract, including those arising from any manipulation of the quoting mechanism or our services generally, notwithstanding our undertaking to provide a clear and fair service to you at all times.
7.11 We may hedge our liability to you by opening analogous positions with other institutions or in the Underlying Market. The result of our doing this is that when you open or close a Transaction relating to a share or other Instrument with us, your Transactions can, through our hedging, exert a distorting influence VARIANSE | Client Agreement Page 7 of 31 VARIANSE is a trading name of VDX Derivatives. VDX Derivatives is authorised and regulated by the Financial Services Commission (FSC) in the republic of Mauritius with License Number C118023323. Registered Address: 00 Xx Xxxxxxx Xxxxxx, Xxxx Xxxxx, Xxxxxxxxx. on the Underlying Market for that Instrument, in addition to the impact that it may have on our own prices. This creates a possibility of market abuse and the function of this Term is to prevent such abuse. You represent and warrant to us now, and agree that each such representation and warranty is deemed repeated each time you open or close a Transaction, that:
a. you will not open and have not opened a Transaction or Transactions with us relating to a particular asset price if to do so would result in you, or others with whom you are acting in concert together, having an exposure to the asset price that is equal to or exceeds the amount of a declarable interest in the relevant company. For this purpose the level of a declarable interest will be the prevailing level at the material time, set by law or by the stock exchange(s) on which the underlying share is listed;
b. you will not open and have not opened a Transaction with us in connection with: i. a placing, issue, distribution or other analogous event; or
ii. an offer, take-over, merger or other analogous event, in which you are involved or otherwise interested; and
c. you will not open and have not opened a Transaction that contravenes any primary or secondary legislation or other law against insider dealing or market manipulation. For the purposes of this clause you agree that we may proceed on the basis that when you open or close a Transaction with us on a share price, you may be treated as dealing ‘in an Investment or a related investment’ within the meaning of the Markets Rules and relevant laws.
7.12 In the event that (a) you open any Transaction in breach of the representations and warranties given in this Agreement, or (b) we have reasonable grounds for suspecting that you have done so, we may, at our absolute discretion and without being under any obligation to inform you of our reason for doing so, close that Transaction and any other Transactions that you may have open at the time and also, at our absolute discretion:
a. enforce the Transaction or Transactions against you if it is a Transaction or Transactions under which you have incurred a loss; or
b. treat all your Transactions closed under this clause as void if they are Transactions under which you have secured a profit, unless and until you produce evidence that satisfies us that you have not, in fact, committed the breach of warranty and/or misrepresentation the suspicion of which was the ground for closing your Transaction(s). For the avoidance of doubt, if you do not produce such evidence within the period of six months from the date on which such Transaction was opened, all such Transactions will be finally null and void as between you and us.
7.13 You acknowledge that the Transactions in which you deal with us are speculative instruments and you agree that you will not open any Transactions with us in connection with any corporate finance style activity.
7.14 You acknowledge that it would be improper for you to deal in the Underlying Market if the sole purpose of such a transaction was to impact on our bid or offer prices, and you agree not to conduct any such transactions. If we reasonably suspect that you have performed abusive trading we may, at its absolute discretion, at any time and without prior Written Notice, take one or more of the following actions:
a. Terminate this Agreement immediately without prior notice to the Client;
b. Cancel any Open Positions; VARIANSE is a trading name of VDX Derivatives. VDX Derivatives is authorised and regulated by the Financial Services Commission (FSC) in the republic of Mauritius with License Number C118023323. Registered Address: 00 Xx Xxxxxxx Xxxxxx, Xxxx Xxxxx, Xxxxxxxxx.
c. Temporarily or permanently bar access to the Trading Platform or suspend or prohibit any functions of the Trading Platform;
d. Reject or Decline or refuse to transmit or execute any Order of the Client;
e. Restrict the Client’s trading activity;
f. In the case of fraud, reverse the funds back to real owner or according to the instructions of the law enforcement authorities of the relevant country;
g. Cancel or reverse of profits gained through abusive trading in the Client Account;
h. Take legal action for any losses suffered by the Company.
7.15 The Company has the right, at any time and for any reason and without giving any notice and/or explanation, to refuse, at its discretion, to execute any Order, including without limitation in the following cases:
a. If the Company has adequate reasons to suspect that the execution of an Order is part of an attempt to manipulate the market, trading on inside information, relates to money laundering activities or terrorist financing or fraud or if it can potentially affect in any manner the reliability, efficiency, or smooth operation of the Trading Platform.
b. If the Client does not have sufficient available funds deposited with the Company or in his bank account to pay the purchase price of an Order along with the respective fees and commissions necessary to carry out the transaction in the Trading Platform. In the event that the Company does refuse to execute an order, such refusal will not affect any obligation which the Client may have towards the Company or any right which the Company may have against the Client or his assets.
Appears in 1 contract
Samples: Financial Services Agreement
Dealing. 7.1 We may execute your dealing instructions upon or in accordance with the rules of any market or exchange and through any clearing house selected by us. We may enter into transactions for or with VARIANSE is a trading name of VDX Derivatives. VDX Derivatives is authorised and regulated by the Financial Services Commission (FSC) in the republic of Mauritius with License Number C118023323. Registered Address: 00 Xx Xxxxxxx Xxxxxx, Xxxx Xxxxx, Xxxxxxxxx. you which are not on or in accordance with the rules of any exchange for example, off-exchange transactions in foreign currencies, or in other non-non- readily realisable investments.
7.2 Assets and profits arising on closing a position, settlement or liquidation will be credited to your Account and losses will be debited from your Account. Any debit balance arising as a result of any close-out, settlement or liquidation will be payable by you forthwith whether or not demanded by us.
7.3 We shall be entitled to carry out all transactions in accordance with the rules, regulations, customs or practices of the relevant market, exchange and / or clearing house and all applicable laws whether imposed on you or us. We may take all such steps as may be required or permitted by such laws, rules, regulations, customs and / or market practice. We will be entitled to take or not take any reasonable action we consider fit in order to ensure compliance with the same and all such actions so taken will be binding upon you.
7.4 You agree that any transactions we effect for you will be subject to the rules, regulations, customs and practices of each relevant market, exchange, or clearing house on, through or with which we deal.
7.5 In order to give effect to your dealing instructions, we may at our discretion instruct an intermediate broker selected by us (which may be an Associate of ours). We accept full liability for any default by an intermediate broker which is our Associate, and undertake to use reasonable care and skill in the appointment and supervision of any intermediate broker and to make available to you and take, at your cost and expense, such action on your behalf as you may reasonably request in relation to any rights we have against such intermediate broker. Subject to this we accept no liability for any default of any intermediate broker nor do we accept any liability in relation to the default of any market, exchange or clearing house.
7.6 In executing transactions for or with you we will always deal with you as principal unless we have otherwise informed youprincipal. While we will take reasonable steps to obtain the best price available When you agree and acknowledge that save as required by the FISD Rules we execute an order on your behalf we will take all reasonable steps are under no obligation to obtain provide you with best execution in accordance with the best possible result for FISD Rules and you taking into account a number of relevant factorshereby waive any such requirements.
7.7 We may at our discretion aggregate your orders with our own orders or those of other clients of ours or our Associates. We will allocate the proceeds of such orders among the participating accounts in a manner which we believe to be fair and equitable. If the combined order is not executed at the same price we may average the prices paid or received and debit or credit your Account with the average net price. Details of average price will be furnished on request. Such allocation must take place within five business days of execution. In aggregating your orders in this way we must reasonably believe this will be to your advantage, for instance to obtain better execution or reduced foreign exchange or other dealing costs by being part of a larger transaction. However, on occasion, aggregation and allocation may result in you obtaining a less favourable price.
7.8 Where we are unable or consider it undesirable or inappropriate to execute your order at once or in a single transaction we may execute it over such period as we deem appropriate and we may report to you an average price for a series of transactions so executed instead of the actual price of each transaction.
7.8 7.9 We may undertake a program trade or trades comprising a single transaction or series of transactions on your behalf. In doing so we will always act as principal.
7.9 7.10 We reserve the right to refuse any trades placed by you that we judge to be clearly outside the prevailing market price such that they may be deemed non-market price transactions, whether due to manifest human error or stale, incorrect or broken price feeds. Where we have opened or closed a trade before becoming aware of the price disparity, we may at our absolute discretion either treat that trade as void or accept that trade at the prevailing market price.
7.10 7.11 As a client of ours you hereby accept that the prices quoted by other companies may not be relied upon by you in respect of your account with us and that we reserve the right to decline any quote or refuse to be bound to any contract, including those arising from any manipulation of the quoting mechanism or our services generally, notwithstanding our undertaking to provide a clear and fair service to you at all times.
7.11 We may hedge our liability to you by opening analogous positions with other institutions or in the Underlying Market. The result of our doing this is that when you open or close a Transaction relating to a share or other Instrument with us, your Transactions can, through our hedging, exert a distorting influence VARIANSE | Client Agreement Page 7 of 31 VARIANSE is a trading name of VDX Derivatives. VDX Derivatives is authorised and regulated by the Financial Services Commission (FSC) in the republic of Mauritius with License Number C118023323. Registered Address: 00 Xx Xxxxxxx Xxxxxx, Xxxx Xxxxx, Xxxxxxxxx. on the Underlying Market for that Instrument, in addition to the impact that it may have on our own prices. This creates a possibility of market abuse and the function of this Term is to prevent such abuse. You represent and warrant to us now, and agree that each such representation and warranty is deemed repeated each time you open or close a Transaction, that:
a. you will not open and have not opened a Transaction or Transactions with us relating to a particular asset price if to do so would result in you, or others with whom you are acting in concert together, having an exposure to the asset price that is equal to or exceeds the amount of a declarable interest in the relevant company. For this purpose the level of a declarable interest will be the prevailing level at the material time, set by law or by the stock exchange(s) on which the underlying share is listed;
b. you will not open and have not opened a Transaction with us in connection with: i. a placing, issue, distribution or other analogous event; or
ii. an offer, take-over, merger or other analogous event, in which you are involved or otherwise interested; and
c. you will not open and have not opened a Transaction that contravenes any primary or secondary legislation or other law against insider dealing or market manipulation. For the purposes of this clause you agree that we may proceed on the basis that when you open or close a Transaction with us on a share price, you may be treated as dealing ‘in an Investment or a related investment’ within the meaning of the Markets Rules and relevant laws.
7.12 In the event that (a) you open any Transaction in breach of the representations and warranties given in this Agreement, or (b) we have reasonable grounds for suspecting that you have done so, we may, at our absolute discretion and without being under any obligation to inform you of our reason for doing so, close that Transaction and any other Transactions that you may have open at the time and also, at our absolute discretion:
a. enforce the Transaction or Transactions against you if it is a Transaction or Transactions under which you have incurred a loss; or
b. treat all your Transactions closed under this clause as void if they are Transactions under which you have secured a profit, unless and until you produce evidence that satisfies us that you have not, in fact, committed the breach of warranty and/or misrepresentation the suspicion of which was the ground for closing your Transaction(s). For the avoidance of doubt, if you do not produce such evidence within the period of six months from the date on which such Transaction was opened, all such Transactions will be finally null and void as between you and us.
7.13 You acknowledge that the Transactions in which you deal with us are speculative instruments and you agree that you will not open any Transactions with us in connection with any corporate finance style activity.
7.14 You acknowledge that it would be improper for you to deal in the Underlying Market if the sole purpose of such a transaction was to impact on our bid or offer prices, and you agree not to conduct any such transactions. If we reasonably suspect that you have performed abusive trading we may, at its absolute discretion, at any time and without prior Written Notice, take one or more of the following actions:
a. Terminate this Agreement immediately without prior notice to the Client;
b. Cancel any Open Positions; VARIANSE is a trading name of VDX Derivatives. VDX Derivatives is authorised and regulated by the Financial Services Commission (FSC) in the republic of Mauritius with License Number C118023323. Registered Address: 00 Xx Xxxxxxx Xxxxxx, Xxxx Xxxxx, Xxxxxxxxx.
c. Temporarily or permanently bar access to the Trading Platform or suspend or prohibit any functions of the Trading Platform;
d. Reject or Decline or refuse to transmit or execute any Order of the Client;
e. Restrict the Client’s trading activity;
f. In the case of fraud, reverse the funds back to real owner or according to the instructions of the law enforcement authorities of the relevant country;
g. Cancel or reverse of profits gained through abusive trading in the Client Account;
h. Take legal action for any losses suffered by the Company.
7.15 The Company has the right, at any time and for any reason and without giving any notice and/or explanation, to refuse, at its discretion, to execute any Order, including without limitation in the following cases:
a. If the Company has adequate reasons to suspect that the execution of an Order is part of an attempt to manipulate the market, trading on inside information, relates to money laundering activities or terrorist financing or fraud or if it can potentially affect in any manner the reliability, efficiency, or smooth operation of the Trading Platform.
b. If the Client does not have sufficient available funds deposited with the Company or in his bank account to pay the purchase price of an Order along with the respective fees and commissions necessary to carry out the transaction in the Trading Platform. In the event that the Company does refuse to execute an order, such refusal will not affect any obligation which the Client may have towards the Company or any right which the Company may have against the Client or his assets.
Appears in 1 contract
Samples: Client Agreement
Dealing. 7.1 7.1. We may execute your dealing instructions upon or in accordance with the rules of any market or exchange and through any clearing house selected by us. We may enter into transactions for or with VARIANSE is a trading name of VDX Derivatives. VDX Derivatives is authorised and regulated by the Financial Services Commission (FSC) in the republic of Mauritius with License Number C118023323. Registered Address: 00 Xx Xxxxxxx Xxxxxx, Xxxx Xxxxx, Xxxxxxxxx. you which are not on or in accordance with the rules of any exchange for example, off-exchange transactions in foreign currencies, or in other non-readily realisable investments.
7.2 7.2. Assets and profits arising on closing a position, settlement or liquidation will be credited to your Account and losses will be debited from your Account. Any debit balance arising as a result of any close-out, settlement or liquidation will be payable by you forthwith whether or not demanded by us.
7.3 7.3. We shall be entitled to carry out all transactions in accordance with the rules, regulations, customs or practices of the relevant market, exchange and / or clearing house and all applicable laws whether imposed on you or us. We may take all such steps as may be required or permitted by such laws, rules, regulations, customs and / or market practice. We will be entitled to take or not take any reasonable action we consider fit in order to ensure compliance with the same and all such actions so taken will be binding upon you.
7.4 7.4. You agree that any transactions we effect for you will be subject to the rules, regulations, customs and practices of each relevant market, exchange, or clearing house on, through or with which we deal.
7.5 In order to give effect to your dealing instructions, we may at our discretion instruct an intermediate broker selected by us (which may be an Associate of ours)7.5. We accept full liability for any default by an intermediate broker which is our Associate, and undertake to use reasonable care and skill in the appointment and supervision of any intermediate broker and to make available to you and take, at your cost and expense, such action on your behalf as you may reasonably request in relation to any rights we have against such intermediate broker. Subject to this we accept no liability for any default of any intermediate broker nor do we accept any liability in relation to the default of any market, exchange or clearing house.
7.6 In executing transactions for or with you you, we will always deal with you as principal unless whilst bearing in mind the best execution obligations of the FCA and how they apply to each different client classification.
7.6. We may, at our discretion, aggregate your orders with our own orders or those of other clients of ours or our Associates. We will allocate the proceeds of such orders among the participating accounts in a manner which we have otherwise informed youbelieve to be fair and equitable. While If the combined order is not executed at the same price, we may average the prices paid or received and debit or credit your Account with the average net price. Details of average price will be furnished on request. Such allocation must take reasonable steps place within five business days of execution. In aggregating your orders in this way, we must reasonably believe this will be to your advantage, for instance to obtain the best price available When we execute an order better execution or reduced foreign exchange or other dealing costs by being part of a larger transaction. However, on your behalf we will take all reasonable steps to obtain the best possible occasion, aggregation and allocation may result for in you taking into account obtaining a number of relevant factorsless favourable price.
7.7 7.7. Where we are unable or consider it undesirable or inappropriate to execute your order at once or in a single transaction (split fills and/or market orders) we may execute it over such period as we deem appropriate appropriate, and we may report to you an average price for a series of transactions so executed instead of the actual price of each transaction.
7.8 7.8. We may undertake a program trade or trades comprising a single transaction or series of transactions on your behalf. In doing so we will always act as principal.
7.9 7.9. We reserve the right to refuse any trades placed by you that we judge to be clearly outside the prevailing market price such that they may be deemed non-market price transactions, whether due to manifest human error or stale, incorrect or broken price feeds. Where we have opened or closed a trade before becoming aware of the price disparity, we may at our absolute discretion either treat that trade as void or accept that trade at the prevailing market price.
7.10 7.10. We are an STP only broker and quote the prices provided to us by our counterparties and these prices are at which we are prepared to deal with our clients and such prices may or may not replicate the prices quoted and traded by other companies and / or their customers. As a client of ours you hereby accept that the prices quoted by other companies may not be relied upon by you in respect of your account with us and that we reserve the right to decline any quote or refuse to be bound to any contract, including those arising from any manipulation of the quoting mechanism or our services generally, notwithstanding our undertaking to provide a clear and fair service to you at all times.
7.11 We may hedge our liability to you by opening analogous positions with other institutions or in the Underlying Market. The result of our doing this is that when you open or close a Transaction relating to a share or other Instrument with us, your Transactions can, through our hedging, exert a distorting influence VARIANSE | Client Agreement Page 7 of 31 VARIANSE is a trading name of VDX Derivatives. VDX Derivatives is authorised and regulated by the Financial Services Commission (FSC) in the republic of Mauritius with License Number C118023323. Registered Address: 00 Xx Xxxxxxx Xxxxxx, Xxxx Xxxxx, Xxxxxxxxx. on the Underlying Market for that Instrument, in addition to the impact that it may have on our own prices. This creates a possibility of market abuse and the function of this Term is to prevent such abuse. You represent and warrant to us now, and agree that each such representation and warranty is deemed repeated each time you open or close a Transaction, that:
a. you will not open and have not opened a Transaction or Transactions with us relating to a particular asset price if to do so would result in you, or others with whom you are acting in concert together, having an exposure to the asset price that is equal to or exceeds the amount of a declarable interest in the relevant company. For this purpose the level of a declarable interest will be the prevailing level at the material time, set by law or by the stock exchange(s) on which the underlying share is listed;
b. you will not open and have not opened a Transaction with us in connection with: i. a placing, issue, distribution or other analogous event; or
ii. an offer, take-over, merger or other analogous event, in which you are involved or otherwise interested; and
c. you will not open and have not opened a Transaction that contravenes any primary or secondary legislation or other law against insider dealing or market manipulation. For the purposes of this clause you agree that we may proceed on the basis that when you open or close a Transaction with us on a share price, you may be treated as dealing ‘in an Investment or a related investment’ within the meaning of the Markets Rules and relevant laws.
7.12 In the event that (a) you open any Transaction in breach of the representations and warranties given in this Agreement, or (b) we have reasonable grounds for suspecting that you have done so, we may, at our absolute discretion and without being under any obligation to inform you of our reason for doing so, close that Transaction and any other Transactions that you may have open at the time and also, at our absolute discretion:
a. enforce the Transaction or Transactions against you if it is a Transaction or Transactions under which you have incurred a loss; or
b. treat all your Transactions closed under this clause as void if they are Transactions under which you have secured a profit, unless and until you produce evidence that satisfies us that you have not, in fact, committed the breach of warranty and/or misrepresentation the suspicion of which was the ground for closing your Transaction(s). For the avoidance of doubt, if you do not produce such evidence within the period of six months from the date on which such Transaction was opened, all such Transactions will be finally null and void as between you and us.
7.13 You acknowledge that the Transactions in which you deal with us are speculative instruments and you agree that you will not open any Transactions with us in connection with any corporate finance style activity.
7.14 You acknowledge that it would be improper for you to deal in the Underlying Market if the sole purpose of such a transaction was to impact on our bid or offer prices, and you agree not to conduct any such transactions. If we reasonably suspect that you have performed abusive trading we may, at its absolute discretion, at any time and without prior Written Notice, take one or more of the following actions:
a. Terminate this Agreement immediately without prior notice to the Client;
b. Cancel any Open Positions; VARIANSE is a trading name of VDX Derivatives. VDX Derivatives is authorised and regulated by the Financial Services Commission (FSC) in the republic of Mauritius with License Number C118023323. Registered Address: 00 Xx Xxxxxxx Xxxxxx, Xxxx Xxxxx, Xxxxxxxxx.
c. Temporarily or permanently bar access to the Trading Platform or suspend or prohibit any functions of the Trading Platform;
d. Reject or Decline or refuse to transmit or execute any Order of the Client;
e. Restrict the Client’s trading activity;
f. In the case of fraud, reverse the funds back to real owner or according to the instructions of the law enforcement authorities of the relevant country;
g. Cancel or reverse of profits gained through abusive trading in the Client Account;
h. Take legal action for any losses suffered by the Company.
7.15 The Company has the right, at any time and for any reason and without giving any notice and/or explanation, to refuse, at its discretion, to execute any Order, including without limitation in the following cases:
a. If the Company has adequate reasons to suspect that the execution of an Order is part of an attempt to manipulate the market, trading on inside information, relates to money laundering activities or terrorist financing or fraud or if it can potentially affect in any manner the reliability, efficiency, or smooth operation of the Trading Platform.
b. If the Client does not have sufficient available funds deposited with the Company or in his bank account to pay the purchase price of an Order along with the respective fees and commissions necessary to carry out the transaction in the Trading Platform. In the event that the Company does refuse to execute an order, such refusal will not affect any obligation which the Client may have towards the Company or any right which the Company may have against the Client or his assets.
Appears in 1 contract
Samples: Client Agreement
Dealing. 7.1 We may execute your dealing instructions upon or in accordance with the rules of any market or exchange and through any clearing house selected by us. We may enter into transactions for or with VARIANSE is a trading name of VDX Derivatives. VDX Derivatives is authorised and regulated by the Financial Services Commission (FSC) in the republic of Mauritius with License Number C118023323. Registered Address: 00 Xx Xxxxxxx Xxxxxx, Xxxx Xxxxx, Xxxxxxxxx. you which are not on or in accordance with the rules of any exchange for example, off-exchange transactions in foreign currencies, or in other non-readily realisable investments.
7.2 Assets and profits arising on closing a position, settlement or liquidation will be credited to your Account and losses will be debited from your Account. Any debit balance arising as a result of any close-out, settlement or liquidation will be payable by you forthwith whether or not demanded by us.
7.3 We shall be entitled to carry out all transactions in accordance with the rules, regulations, customs or practices of the relevant market, exchange and / or clearing house and all applicable laws whether imposed on you or us. We may take all such steps as may be required or permitted by such laws, rules, regulations, customs and / or market practice. We will be entitled to take or not take any reasonable action we consider fit in order to ensure compliance with the same and all such actions so taken will be binding upon you.
7.4 You agree that any transactions we effect for you will be subject to the rules, regulations, customs and practices of each relevant market, exchange, or clearing house on, through or with which we deal.
7.5 In order to give effect to your dealing instructions, we may at our discretion instruct an intermediate broker selected by us (which may be an Associate of ours). We accept full liability for any default by an intermediate broker which is our Associate, and undertake to use reasonable care and skill in the appointment and supervision of any intermediate broker and to make available to you and take, at your cost and expense, such action on your behalf as you may reasonably request in relation to any rights we have against such intermediate broker. Subject to this we accept no liability for any default of any intermediate broker nor do we accept any liability in relation to the default of any market, exchange or clearing house.
7.6 In executing transactions for or with you we will always deal with you as principal unless we have otherwise informed youprincipal. While we will take reasonable steps to obtain the best price available When you agree and acknowledge that save as required by the FCA Rules we execute an order on your behalf we will take all reasonable steps are under no obligation to obtain provide you with best execution in accordance with the best possible result for FCA Rules and you taking into account a number of relevant factorshereby waive any such requirements.
7.7 We may at our discretion aggregate your orders with our own orders or those of other clients of ours or our Associates. We will allocate the proceeds of such orders among the participating accounts in a manner which we believe to be fair and equitable. If the combined order is not executed at the same price we may average the prices paid or received and debit or credit your Account with the average net price. Details of average price will be furnished on request. Such allocation must take place within five business days of execution. In aggregating your orders in this way we must reasonably believe this will be to your advantage, for instance to obtain better execution or reduced foreign exchange or other dealing costs by being part of a larger transaction. However, on occasion, aggregation and allocation may result in you obtaining a less favourable price.
7.8 Where we are unable or consider it undesirable or inappropriate to execute your order at once or in a single transaction we may execute it over such period as we deem appropriate and we may report to you an average price for a series of transactions so executed instead of the actual price of each transaction.
7.8 7.9 We may undertake a program trade or trades comprising a single transaction or series of transactions on your behalf. In doing so we will always act as principal.
7.9 7.10 We reserve the right to refuse any trades placed by you that we judge to be clearly outside the prevailing market price such that they may be deemed non-market price transactions, whether due to manifest human error or stale, incorrect or broken price feeds. Where we have opened or closed a trade before becoming aware of the price disparity, we may at our absolute discretion either treat that trade as void or accept that trade at the prevailing market price.
7.10 7.11 As a client of ours you hereby accept that the prices quoted by other companies may not be relied upon by you in respect of your account with us and that we reserve the right to decline any quote or refuse to be bound to any contract, including those arising from any manipulation of the quoting mechanism or our services generally, notwithstanding our undertaking to provide a clear and fair service to you at all times.
7.11 We may hedge our liability to you by opening analogous positions with other institutions or in the Underlying Market. The result of our doing this is that when you open or close a Transaction relating to a share or other Instrument with us, your Transactions can, through our hedging, exert a distorting influence VARIANSE | Client Agreement Page 7 of 31 VARIANSE is a trading name of VDX Derivatives. VDX Derivatives is authorised and regulated by the Financial Services Commission (FSC) in the republic of Mauritius with License Number C118023323. Registered Address: 00 Xx Xxxxxxx Xxxxxx, Xxxx Xxxxx, Xxxxxxxxx. on the Underlying Market for that Instrument, in addition to the impact that it may have on our own prices. This creates a possibility of market abuse and the function of this Term is to prevent such abuse. You represent and warrant to us now, and agree that each such representation and warranty is deemed repeated each time you open or close a Transaction, that:
a. you will not open and have not opened a Transaction or Transactions with us relating to a particular asset price if to do so would result in you, or others with whom you are acting in concert together, having an exposure to the asset price that is equal to or exceeds the amount of a declarable interest in the relevant company. For this purpose the level of a declarable interest will be the prevailing level at the material time, set by law or by the stock exchange(s) on which the underlying share is listed;
b. you will not open and have not opened a Transaction with us in connection with: i. a placing, issue, distribution or other analogous event; or
ii. an offer, take-over, merger or other analogous event, in which you are involved or otherwise interested; and
c. you will not open and have not opened a Transaction that contravenes any primary or secondary legislation or other law against insider dealing or market manipulation. For the purposes of this clause you agree that we may proceed on the basis that when you open or close a Transaction with us on a share price, you may be treated as dealing ‘in an Investment or a related investment’ within the meaning of the Markets Rules and relevant laws.
7.12 In the event that (a) you open any Transaction in breach of the representations and warranties given in this Agreement, or (b) we have reasonable grounds for suspecting that you have done so, we may, at our absolute discretion and without being under any obligation to inform you of our reason for doing so, close that Transaction and any other Transactions that you may have open at the time and also, at our absolute discretion:
a. enforce the Transaction or Transactions against you if it is a Transaction or Transactions under which you have incurred a loss; or
b. treat all your Transactions closed under this clause as void if they are Transactions under which you have secured a profit, unless and until you produce evidence that satisfies us that you have not, in fact, committed the breach of warranty and/or misrepresentation the suspicion of which was the ground for closing your Transaction(s). For the avoidance of doubt, if you do not produce such evidence within the period of six months from the date on which such Transaction was opened, all such Transactions will be finally null and void as between you and us.
7.13 You acknowledge that the Transactions in which you deal with us are speculative instruments and you agree that you will not open any Transactions with us in connection with any corporate finance style activity.
7.14 You acknowledge that it would be improper for you to deal in the Underlying Market if the sole purpose of such a transaction was to impact on our bid or offer prices, and you agree not to conduct any such transactions. If we reasonably suspect that you have performed abusive trading we may, at its absolute discretion, at any time and without prior Written Notice, take one or more of the following actions:
a. Terminate this Agreement immediately without prior notice to the Client;
b. Cancel any Open Positions; VARIANSE is a trading name of VDX Derivatives. VDX Derivatives is authorised and regulated by the Financial Services Commission (FSC) in the republic of Mauritius with License Number C118023323. Registered Address: 00 Xx Xxxxxxx Xxxxxx, Xxxx Xxxxx, Xxxxxxxxx.
c. Temporarily or permanently bar access to the Trading Platform or suspend or prohibit any functions of the Trading Platform;
d. Reject or Decline or refuse to transmit or execute any Order of the Client;
e. Restrict the Client’s trading activity;
f. In the case of fraud, reverse the funds back to real owner or according to the instructions of the law enforcement authorities of the relevant country;
g. Cancel or reverse of profits gained through abusive trading in the Client Account;
h. Take legal action for any losses suffered by the Company.
7.15 The Company has the right, at any time and for any reason and without giving any notice and/or explanation, to refuse, at its discretion, to execute any Order, including without limitation in the following cases:
a. If the Company has adequate reasons to suspect that the execution of an Order is part of an attempt to manipulate the market, trading on inside information, relates to money laundering activities or terrorist financing or fraud or if it can potentially affect in any manner the reliability, efficiency, or smooth operation of the Trading Platform.
b. If the Client does not have sufficient available funds deposited with the Company or in his bank account to pay the purchase price of an Order along with the respective fees and commissions necessary to carry out the transaction in the Trading Platform. In the event that the Company does refuse to execute an order, such refusal will not affect any obligation which the Client may have towards the Company or any right which the Company may have against the Client or his assets.
Appears in 1 contract
Samples: Service Agreement
Dealing. 7.1 7.1. We may execute your dealing instructions upon or in accordance with the rules of any market or exchange and through any clearing house selected by us. We may enter into transactions for or with VARIANSE is a trading name of VDX Derivatives. VDX Derivatives is authorised and regulated by the Financial Services Commission (FSC) in the republic of Mauritius with License Number C118023323. Registered Address: 00 Xx Xxxxxxx Xxxxxx, Xxxx Xxxxx, Xxxxxxxxx. you which are not on or in accordance with the rules of any exchange for example, off-exchange off‐exchange transactions in foreign currencies, or in other non-readily non‐readily realisable investments.
7.2 7.2. Assets and profits arising on closing a position, settlement or liquidation will be credited to your Account and losses will be debited from your Account. Any debit balance arising as a result of any close-outclose‐out, settlement or liquidation will be payable by you forthwith whether or not demanded by us.
7.3 7.3. We shall be entitled to carry out all transactions in accordance with the rules, regulations, customs or practices of the relevant market, exchange and / or clearing house and all applicable laws whether imposed on you or us. We may take all such steps as may be required or permitted by such laws, rules, regulations, customs and / or market practice. We will be entitled to take or not take any reasonable action we consider fit in order to ensure compliance with the same and all such actions so taken will be binding upon you.
7.4 7.4. You agree that any transactions we effect for you will be subject to the rules, regulations, customs and practices of each relevant market, exchange, or clearing house on, through or with which we deal.
7.5 In order to give effect to your dealing instructions, we may at our discretion instruct an intermediate broker selected by us (which may be an Associate of ours)7.5. We accept full liability for any default by an intermediate broker which is our Associate, and undertake to use reasonable care and skill in the appointment and supervision of any intermediate broker and to make available to you and take, at your cost and expense, such action on your behalf as you may reasonably request in relation to any rights we have against such intermediate broker. Subject to this we accept no liability for any default of any intermediate broker nor do we accept any liability in relation to the default of any market, exchange or clearing house.
7.6 In executing transactions for or with you you, we will always deal with you as principal unless whilst bearing in mind the best execution obligations of the FCA and how they apply to each different client classification.
7.6. We may, at our discretion, aggregate your orders with our own orders or those of other clients of ours or our Associates. We will allocate the proceeds of such orders among the participating accounts in a manner which we have otherwise informed youbelieve to be fair and equitable. While If the combined order is not executed at the same price, we may average the prices paid or received and debit or credit your Account with the average net price. Details of average price will be furnished on request. Such allocation must take reasonable steps place within five business days of execution. In aggregating your orders in this way, we must reasonably believe this will be to your advantage, for instance to obtain the best price available When we execute an order better execution or reduced foreign exchange or other dealing costs by being part of a larger transaction. However, on your behalf we will take all reasonable steps to obtain the best possible occasion, aggregation and allocation may result for in you taking into account obtaining a number of relevant factorsless favourable price.
7.7 7.7. Where we are unable or consider it undesirable or inappropriate to execute your order at once or in a single transaction (split fills and/or market orders) we may execute it over such period as we deem appropriate appropriate, and we may report to you an average price for a series of transactions so executed instead of the actual price of each transaction.
7.8 7.8. We may undertake a program trade or trades comprising a single transaction or series of transactions on your behalf. In doing so we will always act as principal.
7.9 7.9. We reserve the right to refuse any trades placed by you that we judge to be clearly outside the prevailing market price such that they may be deemed non-market non‐market price transactions, whether due to manifest human error or stale, incorrect or broken price feeds. Where we have opened or closed a trade before becoming aware of the price disparity, we may at our absolute discretion either treat that trade as void or accept that trade at the prevailing market price.
7.10 7.10. We are an STP only broker and quote the prices provided to us by our counterparties and these prices are at which we are prepared to deal with our clients and such prices may or may not replicate the prices quoted and traded by other companies and / or their customers. As a client of ours you hereby accept that the prices quoted by other companies may not be relied upon by you in respect of your account with us and that we reserve the right to decline any quote or refuse to be bound to any contract, including those arising from any manipulation of the quoting mechanism or our services generally, notwithstanding our undertaking to provide a clear and fair service to you at all times.
7.11 We may hedge our liability to you by opening analogous positions with other institutions or in the Underlying Market. The result of our doing this is that when you open or close a Transaction relating to a share or other Instrument with us, your Transactions can, through our hedging, exert a distorting influence VARIANSE | Client Agreement Page 7 of 31 VARIANSE is a trading name of VDX Derivatives. VDX Derivatives is authorised and regulated by the Financial Services Commission (FSC) in the republic of Mauritius with License Number C118023323. Registered Address: 00 Xx Xxxxxxx Xxxxxx, Xxxx Xxxxx, Xxxxxxxxx. on the Underlying Market for that Instrument, in addition to the impact that it may have on our own prices. This creates a possibility of market abuse and the function of this Term is to prevent such abuse. You represent and warrant to us now, and agree that each such representation and warranty is deemed repeated each time you open or close a Transaction, that:
a. you will not open and have not opened a Transaction or Transactions with us relating to a particular asset price if to do so would result in you, or others with whom you are acting in concert together, having an exposure to the asset price that is equal to or exceeds the amount of a declarable interest in the relevant company. For this purpose the level of a declarable interest will be the prevailing level at the material time, set by law or by the stock exchange(s) on which the underlying share is listed;
b. you will not open and have not opened a Transaction with us in connection with: i. a placing, issue, distribution or other analogous event; or
ii. an offer, take-over, merger or other analogous event, in which you are involved or otherwise interested; and
c. you will not open and have not opened a Transaction that contravenes any primary or secondary legislation or other law against insider dealing or market manipulation. For the purposes of this clause you agree that we may proceed on the basis that when you open or close a Transaction with us on a share price, you may be treated as dealing ‘in an Investment or a related investment’ within the meaning of the Markets Rules and relevant laws.
7.12 In the event that (a) you open any Transaction in breach of the representations and warranties given in this Agreement, or (b) we have reasonable grounds for suspecting that you have done so, we may, at our absolute discretion and without being under any obligation to inform you of our reason for doing so, close that Transaction and any other Transactions that you may have open at the time and also, at our absolute discretion:
a. enforce the Transaction or Transactions against you if it is a Transaction or Transactions under which you have incurred a loss; or
b. treat all your Transactions closed under this clause as void if they are Transactions under which you have secured a profit, unless and until you produce evidence that satisfies us that you have not, in fact, committed the breach of warranty and/or misrepresentation the suspicion of which was the ground for closing your Transaction(s). For the avoidance of doubt, if you do not produce such evidence within the period of six months from the date on which such Transaction was opened, all such Transactions will be finally null and void as between you and us.
7.13 You acknowledge that the Transactions in which you deal with us are speculative instruments and you agree that you will not open any Transactions with us in connection with any corporate finance style activity.
7.14 You acknowledge that it would be improper for you to deal in the Underlying Market if the sole purpose of such a transaction was to impact on our bid or offer prices, and you agree not to conduct any such transactions. If we reasonably suspect that you have performed abusive trading we may, at its absolute discretion, at any time and without prior Written Notice, take one or more of the following actions:
a. Terminate this Agreement immediately without prior notice to the Client;
b. Cancel any Open Positions; VARIANSE is a trading name of VDX Derivatives. VDX Derivatives is authorised and regulated by the Financial Services Commission (FSC) in the republic of Mauritius with License Number C118023323. Registered Address: 00 Xx Xxxxxxx Xxxxxx, Xxxx Xxxxx, Xxxxxxxxx.
c. Temporarily or permanently bar access to the Trading Platform or suspend or prohibit any functions of the Trading Platform;
d. Reject or Decline or refuse to transmit or execute any Order of the Client;
e. Restrict the Client’s trading activity;
f. In the case of fraud, reverse the funds back to real owner or according to the instructions of the law enforcement authorities of the relevant country;
g. Cancel or reverse of profits gained through abusive trading in the Client Account;
h. Take legal action for any losses suffered by the Company.
7.15 The Company has the right, at any time and for any reason and without giving any notice and/or explanation, to refuse, at its discretion, to execute any Order, including without limitation in the following cases:
a. If the Company has adequate reasons to suspect that the execution of an Order is part of an attempt to manipulate the market, trading on inside information, relates to money laundering activities or terrorist financing or fraud or if it can potentially affect in any manner the reliability, efficiency, or smooth operation of the Trading Platform.
b. If the Client does not have sufficient available funds deposited with the Company or in his bank account to pay the purchase price of an Order along with the respective fees and commissions necessary to carry out the transaction in the Trading Platform. In the event that the Company does refuse to execute an order, such refusal will not affect any obligation which the Client may have towards the Company or any right which the Company may have against the Client or his assets.
Appears in 1 contract
Samples: Client Agreement
Dealing. 7.1 7.1. We may execute your dealing instructions upon or in accordance with the rules of any market or exchange and through any clearing house selected by us. We may enter into transactions for or with VARIANSE is a trading name of VDX Derivatives. VDX Derivatives is authorised and regulated by the Financial Services Commission (FSC) in the republic of Mauritius with License Number C118023323. Registered Address: 00 Xx Xxxxxxx Xxxxxx, Xxxx Xxxxx, Xxxxxxxxx. you which are not on or in accordance with the rules of any exchange (for example, off-exchange transactions in foreign currencies), or in other non-readily realisable realizable investments. The market in non-readily realizable investments is limited or could become so. They can be difficult to deal in and it can be difficult to assess what would be a proper market price or other current value for them.
7.2 7.2. Assets and profits arising on closing a position, settlement or liquidation will be credited to your Account and losses will be debited from your Account. Any debit balance arising as a result of any close-out, settlement or liquidation will be payable by you forthwith whether or not demanded by us.
7.3 7.3. We shall be entitled to carry out all transactions in accordance with the rules, regulations, customs or practices of the relevant market, exchange and / or and/or clearing house and all applicable laws whether imposed on you or us. We may take all such steps as may be required or permitted by such laws, rules, regulations, customs and / or and/or market practice. We will be entitled to take or not take any reasonable action we consider fit in order to ensure compliance with the same and all such actions so taken will be binding upon you.
7.4 7.4. You agree that any transactions we effect for you will be subject to the rules, rules regulations, customs and practices of each relevant market, exchange, or clearing house on, through or with which we deal.
7.5 7.5. In order to give effect to your dealing instructions, we may at our discretion instruct an intermediate broker selected by us (which may be an Associate of ours). We accept full liability for any default by an intermediate broker which is our Associate, and undertake to use reasonable care and skill in the appointment and supervision of any other intermediate broker and to make available to you and take, at your cost and expense, take such action on your behalf as you may reasonably request in relation to any rights we have against such intermediate broker. Subject to this we accept no liability for any default of any intermediate broker nor do we accept any liability in relation to the default of any or market, exchange or clearing house.
7.6 7.6. In executing transactions for or with you we will always deal with you as principal unless we have otherwise informed youprincipal. While We confirm that we will seek best execution in accordance with the FSC Rules or other relevant laws or rules as applicable.
7.7. We may at our discretion aggregate your orders with our own orders or those of other clients of ours or our Associates. We will allocate the proceeds of such orders among the participating accounts in a manner which we believe to be fair and equitable. If the combined order is not executed at the same price we may average the prices paid or received and debit or credit your Account with the average net price. Details of average price will be furnished on request. Such allocation must take reasonable steps place within one business day of execution. In aggregating your orders in this way we must reasonably believe this will be to your advantage, for instance to obtain the best price available When we execute an order better execution or reduced foreign exchange or other dealing costs by being part of a larger transaction. However, on occasion, aggregation and allocation may not work at your behalf we will take all reasonable steps to obtain the best possible result for you taking into account a number of relevant factorsadvantage.
7.7 7.8. Where we are unable or consider it undesirable or inappropriate to execute your order at once or in a single transaction we may execute it over such period as we deem appropriate and we may report to you an average price for a series of transactions so executed instead of the actual price of each transaction.
7.8 7.9. We may undertake a program programmed trade or trades comprising a single transaction or series of transactions on your behalf. In doing so we will always act as principal.
7.9 We reserve the right to refuse any trades placed by you that we judge to be clearly outside the prevailing market price such that they may be deemed non-market price transactions, whether due to manifest human error or stale, incorrect or broken price feeds. Where we have opened or closed a trade before becoming aware of the price disparity, we may at our absolute discretion either treat that trade as void or accept that trade at the prevailing market price.
7.10 As a client of ours you hereby accept that the prices quoted by other companies may not be relied upon by you in respect of your account with us and that we reserve the right to decline any quote or refuse to be bound to any contract, including those arising from any manipulation of the quoting mechanism or our services generally, notwithstanding our undertaking to provide a clear and fair service to you at all times.
7.11 We may hedge our liability to you by opening analogous positions with other institutions or in the Underlying Market. The result of our doing this is that when you open or close a Transaction relating to a share or other Instrument with us, your Transactions can, through our hedging, exert a distorting influence VARIANSE | Client Agreement Page 7 of 31 VARIANSE is a trading name of VDX Derivatives. VDX Derivatives is authorised and regulated by the Financial Services Commission (FSC) in the republic of Mauritius with License Number C118023323. Registered Address: 00 Xx Xxxxxxx Xxxxxx, Xxxx Xxxxx, Xxxxxxxxx. on the Underlying Market for that Instrument, in addition to the impact that it may have on our own prices. This creates a possibility of market abuse and the function of this Term is to prevent such abuse. You represent and warrant to us now, and agree that each such representation and warranty is deemed repeated each time you open or close a Transaction, that:
a. you will not open and have not opened a Transaction or Transactions with us relating to a particular asset price if to do so would result in you, or others with whom you are acting in concert together, having an exposure to the asset price that is equal to or exceeds the amount of a declarable interest in the relevant company. For this purpose the level of a declarable interest will be the prevailing level at the material time, set by law or by the stock exchange(s) on which the underlying share is listed;
b. you will not open and have not opened a Transaction with us in connection with: i. a placing, issue, distribution or other analogous event; or
ii. an offer, take-over, merger or other analogous event, in which you are involved or otherwise interested; and
c. you will not open and have not opened a Transaction that contravenes any primary or secondary legislation or other law against insider dealing or market manipulation. For the purposes of this clause you agree that we may proceed on the basis that when you open or close a Transaction with us on a share price, you may be treated as dealing ‘in an Investment or a related investment’ within the meaning of the Markets Rules and relevant laws.
7.12 In the event that (a) you open any Transaction in breach of the representations and warranties given in this Agreement, or (b) we have reasonable grounds for suspecting that you have done so, we may, at our absolute discretion and without being under any obligation to inform you of our reason for doing so, close that Transaction and any other Transactions that you may have open at the time and also, at our absolute discretion:
a. enforce the Transaction or Transactions against you if it is a Transaction or Transactions under which you have incurred a loss; or
b. treat all your Transactions closed under this clause as void if they are Transactions under which you have secured a profit, unless and until you produce evidence that satisfies us that you have not, in fact, committed the breach of warranty and/or misrepresentation the suspicion of which was the ground for closing your Transaction(s). For the avoidance of doubt, if you do not produce such evidence within the period of six months from the date on which such Transaction was opened, all such Transactions will be finally null and void as between you and us.
7.13 You acknowledge that the Transactions in which you deal with us are speculative instruments and you agree that you will not open any Transactions with us in connection with any corporate finance style activity.
7.14 You acknowledge that it would be improper for you to deal in the Underlying Market if the sole purpose of such a transaction was to impact on our bid or offer prices, and you agree not to conduct any such transactions. If we reasonably suspect that you have performed abusive trading we may, at its absolute discretion, at any time and without prior Written Notice, take one or more of the following actions:
a. Terminate this Agreement immediately without prior notice to the Client;
b. Cancel any Open Positions; VARIANSE is a trading name of VDX Derivatives. VDX Derivatives is authorised and regulated by the Financial Services Commission (FSC) in the republic of Mauritius with License Number C118023323. Registered Address: 00 Xx Xxxxxxx Xxxxxx, Xxxx Xxxxx, Xxxxxxxxx.
c. Temporarily or permanently bar access to the Trading Platform or suspend or prohibit any functions of the Trading Platform;
d. Reject or Decline or refuse to transmit or execute any Order of the Client;
e. Restrict the Client’s trading activity;
f. In the case of fraud, reverse the funds back to real owner or according to the instructions of the law enforcement authorities of the relevant country;
g. Cancel or reverse of profits gained through abusive trading in the Client Account;
h. Take legal action for any losses suffered by the Company.
7.15 The Company has the right, at any time and for any reason and without giving any notice and/or explanation, to refuse, at its discretion, to execute any Order, including without limitation in the following cases:
a. If the Company has adequate reasons to suspect that the execution of an Order is part of an attempt to manipulate the market, trading on inside information, relates to money laundering activities or terrorist financing or fraud or if it can potentially affect in any manner the reliability, efficiency, or smooth operation of the Trading Platform.
b. If the Client does not have sufficient available funds deposited with the Company or in his bank account to pay the purchase price of an Order along with the respective fees and commissions necessary to carry out the transaction in the Trading Platform. In the event that the Company does refuse to execute an order, such refusal will not affect any obligation which the Client may have towards the Company or any right which the Company may have against the Client or his assets.
Appears in 1 contract
Samples: Client Agreement for Trading International Securities and Funds
Dealing. 7.1 We may execute your dealing instructions upon or in accordance with the rules of any market or exchange and through any clearing house selected by us. We may enter into transactions for or with VARIANSE is a trading name of VDX Derivatives. VDX Derivatives is authorised and regulated by the Financial Services Commission (FSC) in the republic of Mauritius with License Number C118023323. Registered Address: 00 Xx Xxxxxxx Xxxxxx, Xxxx Xxxxx, Xxxxxxxxx. you which are not on or in accordance with the rules of any exchange for example, off-exchange transactions in foreign currencies, or in other non-readily realisable investments.
7.2 Assets and profits arising on closing a position, settlement or liquidation will be credited to your Account and losses will be debited from your Account. Any debit balance arising as a result of any close-out, settlement or liquidation will be payable by you forthwith whether or not demanded by us.
7.3 We shall be entitled to carry out all transactions in accordance with the rules, regulations, customs or practices of the relevant market, exchange and / or clearing house and all applicable laws whether imposed on you or us. We may take all such steps as may be required or permitted by such laws, rules, regulations, customs and / or market practice. We will be entitled to take or not take any reasonable action we consider fit in order to ensure compliance with the same and all such actions so taken will be binding upon you.
7.4 You agree that any transactions we effect for you will be subject to the rules, regulations, customs and practices of each relevant market, exchange, or clearing house on, through or with which we deal.
7.5 In order to give effect to your dealing instructions, we may at our discretion instruct an intermediate broker selected by us (which may be an Associate of ours). We accept full liability for any default by an intermediate broker which is our Associate, and undertake to use reasonable care and skill in the appointment and supervision of any intermediate broker and to make available to you and take, at your cost and expense, such action on your behalf as you may reasonably request in relation to any rights we have against such intermediate broker. Subject to this we accept no liability for any default of any intermediate broker broker, nor do we accept any liability in relation to the default of any market, exchange or clearing house.
7.6 We may at our discretion aggregate your orders with our own orders or those of other clients of ours or our Associates. We will allocate the proceeds of such orders among the participating accounts in a manner which we believe to be fair and equitable. If the combined order is not executed at the same price, we may average the prices paid or received and debit or credit your Account with the average net price. Details of average price will be furnished on request. Such allocation must take place within five business days of execution. In executing transactions aggregating your orders in this way, we must reasonably believe this will be to your advantage, for or with you we will always deal with you as principal unless we have otherwise informed you. While we will take reasonable steps instance to obtain the best price available When we execute an order better execution or reduced foreign exchange or other dealing costs by being part of a larger transaction. However, on your behalf we will take all reasonable steps to obtain the best possible occasion, aggregation and allocation may result for in you taking into account obtaining a number of relevant factorsless favourable price.
7.7 Where we are unable or consider it undesirable or inappropriate to execute your order at once or in a single transaction transaction, we may execute it over such period as we deem appropriate and we may report to you an average price for a series of transactions so executed instead of the actual price of each transaction.
7.8 We may undertake a program trade or trades comprising a single transaction or series of transactions on your behalf. In doing so we will always act as principal.
7.9 We reserve the right to refuse any trades placed by you that we judge to be clearly outside the prevailing market price such that they may be deemed non-market price transactions, whether due to manifest human error or stale, incorrect or broken price feeds. Where we have opened or closed a trade before becoming aware of the price disparity, we may at our absolute discretion either treat that trade as void or accept that trade at the prevailing market price.
7.10 We are a STP only broker and quote the prices provided to us by our counterparties and these prices are at which we are prepared to deal with our clients and such prices may or may not replicate the prices quoted and traded by other companies and / or their customers. As a client of ours you hereby accept that the prices quoted by other companies may not be relied upon by you in respect of your account with us and that we reserve the right to decline any quote or refuse to be bound to any contract, including those arising from any manipulation of the quoting mechanism or our services generally, notwithstanding our undertaking to provide a clear and fair service to you at all times.
7.11 We may hedge our liability to you by opening analogous positions with other institutions or in the Underlying Market. The result of our doing this is that when you open or close a Transaction relating to a share or other Instrument with us, your Transactions can, through our hedging, exert a distorting influence VARIANSE | Client Agreement Page 7 of 31 VARIANSE is a trading name of VDX Derivatives. VDX Derivatives is authorised and regulated by the Financial Services Commission (FSC) in the republic of Mauritius with License Number C118023323. Registered Address: 00 Xx Xxxxxxx Xxxxxx, Xxxx Xxxxx, Xxxxxxxxx. on the Underlying Market for that Instrument, in addition to the impact that it may have on our own prices. This creates a possibility of market abuse and the function of this Term is to prevent such abuse. You represent and warrant to us now, and agree that each such representation and warranty is deemed repeated each time you open or close a Transaction, that:
a. you will not open and have not opened a Transaction or Transactions with us relating to a particular asset price if to do so would result in you, or others with whom you are acting in concert together, having an exposure to the asset price that is equal to or exceeds the amount of a declarable interest in the relevant company. For this purpose the level of a declarable interest will be the prevailing level at the material time, set by law or by the stock exchange(s) on which the underlying share is listed;
b. you will not open and have not opened a Transaction with us in connection with: i. a placing, issue, distribution or other analogous event; or
ii. an offer, take-over, merger or other analogous event, in which you are involved or otherwise interested; and
c. you will not open and have not opened a Transaction that contravenes any primary or secondary legislation or other law against insider dealing or market manipulation. For the purposes of this clause you agree that we may proceed on the basis that when you open or close a Transaction with us on a share price, you may be treated as dealing ‘in an Investment or a related investment’ within the meaning of the Markets Rules and relevant laws.
7.12 In the event that (a) you open any Transaction in breach of the representations and warranties given in this Agreement, or (b) we have reasonable grounds for suspecting that you have done so, we may, at our absolute discretion and without being under any obligation to inform you of our reason for doing so, close that Transaction and any other Transactions that you may have open at the time and also, at our absolute discretion:
a. enforce the Transaction or Transactions against you if it is a Transaction or Transactions under which you have incurred a loss; or
b. treat all your Transactions closed under this clause as void if they are Transactions under which you have secured a profit, unless and until you produce evidence that satisfies us that you have not, in fact, committed the breach of warranty and/or misrepresentation the suspicion of which was the ground for closing your Transaction(s). For the avoidance of doubt, if you do not produce such evidence within the period of six months from the date on which such Transaction was opened, all such Transactions will be finally null and void as between you and us.
7.13 You acknowledge that the Transactions in which you deal with us are speculative instruments and you agree that you will not open any Transactions with us in connection with any corporate finance style activity.
7.14 You acknowledge that it would be improper for you to deal in the Underlying Market if the sole purpose of such a transaction was to impact on our bid or offer prices, and you agree not to conduct any such transactions. If we reasonably suspect that you have performed abusive trading we may, at its absolute discretion, at any time and without prior Written Notice, take one or more of the following actions:
a. Terminate this Agreement immediately without prior notice to the Client;
b. Cancel any Open Positions; VARIANSE is a trading name of VDX Derivatives. VDX Derivatives is authorised and regulated by the Financial Services Commission (FSC) in the republic of Mauritius with License Number C118023323. Registered Address: 00 Xx Xxxxxxx Xxxxxx, Xxxx Xxxxx, Xxxxxxxxx.
c. Temporarily or permanently bar access to the Trading Platform or suspend or prohibit any functions of the Trading Platform;
d. Reject or Decline or refuse to transmit or execute any Order of the Client;
e. Restrict the Client’s trading activity;
f. In the case of fraud, reverse the funds back to real owner or according to the instructions of the law enforcement authorities of the relevant country;
g. Cancel or reverse of profits gained through abusive trading in the Client Account;
h. Take legal action for any losses suffered by the Company.
7.15 The Company has the right, at any time and for any reason and without giving any notice and/or explanation, to refuse, at its discretion, to execute any Order, including without limitation in the following cases:
a. If the Company has adequate reasons to suspect that the execution of an Order is part of an attempt to manipulate the market, trading on inside information, relates to money laundering activities or terrorist financing or fraud or if it can potentially affect in any manner the reliability, efficiency, or smooth operation of the Trading Platform.
b. If the Client does not have sufficient available funds deposited with the Company or in his bank account to pay the purchase price of an Order along with the respective fees and commissions necessary to carry out the transaction in the Trading Platform. In the event that the Company does refuse to execute an order, such refusal will not affect any obligation which the Client may have towards the Company or any right which the Company may have against the Client or his assets.
Appears in 1 contract
Samples: Account Agreement
Dealing. 7.1 We may execute your dealing instructions upon or in accordance with the rules of any market or exchange and through any clearing house selected by us. We may enter into transactions for or with VARIANSE is a trading name of VDX Derivatives. VDX Derivatives is authorised and regulated by the Financial Services Commission (FSC) in the republic of Mauritius with License Number C118023323. Registered Address: 00 Xx Xxxxxxx Xxxxxx, Xxxx Xxxxx, Xxxxxxxxx. you which are not on or in accordance with the rules of any exchange for example, off-exchange transactions in foreign currencies, or in other non-readily realisable investments.
7.2 Assets and profits arising on closing a position, settlement or liquidation will be credited to your Account and losses will be debited from your Account. Any debit balance arising as a result of any close-out, settlement or liquidation will be payable by you forthwith whether or not demanded by us.
7.3 We shall be entitled to carry out all transactions in accordance with the rules, regulations, customs or practices of the relevant market, exchange and / or clearing house and all applicable laws whether imposed on you or us. We may take all such steps as may be required or permitted by such laws, rules, regulations, customs and / or market practice. We will be entitled to take or not take any reasonable action we consider fit in order to ensure compliance with the same and all such actions so taken will be binding upon you.
7.4 You agree that any transactions we effect for you will be subject to the rules, regulations, customs and practices of each relevant market, exchange, or clearing house on, through or with which we deal.
7.5 In order to give effect to your dealing instructions, we may at our discretion instruct an intermediate broker selected by us (which may be an Associate of ours). We accept full liability for any default by an intermediate broker which is our Associate, and undertake to use reasonable care and skill in the appointment and supervision of any intermediate broker and to make available to you and take, at your cost and expense, such action on your behalf as you may reasonably request in relation to any rights we have against such intermediate broker. Subject to this we accept no liability for any default of any ofany intermediate broker nor do we accept any liability in relation to the default of any market, exchange or clearing house.
7.6 In executing transactions for or with you we will always deal with you as principal unless we have otherwise informed youprincipal. While we will take reasonable steps to obtain the best price available When you agree and acknowledge that save as required by the FCA Rules we execute an order on your behalf we will take all reasonable steps are under no obligation to obtain provide you with best execution in accordance with the best possible result for FCA Rules and you taking into account a number of relevant factorshereby waive any such requirements.
7.7 We may at our discretion aggregate your orders with our own ordersor those ofother clients ofoursor our Associates. We will allocate the proceeds of such orders among the participating accounts in a manner which we believe to be fair and equitable. If the combined order is not executed at the same price we may average the prices paid or received and debit or credit your Account with the average net price. Details of average price will be furnished on request. Such allocation must take place within five business days of execution. In aggregating your orders in this way we must reasonably believe this will be to your advantage, for instance to obtain better execution or reduced foreign exchange or other dealing costs by being part of a larger transaction. However, on occasion, aggregation and allocation may result in you obtaining a less favourable price.
7.8 Where we are unable or consider it undesirable or inappropriate to execute your order at once or in a single transaction we may execute it over such period as we deem appropriate and we may report to you an average price for a series of transactions so executed instead of the actual price of each transaction.
7.8 7.9 We may undertake a program trade or trades comprising a single transaction or series of transactions on your behalf. In doing so we will always act as principal.
7.9 7.10 We reserve the right to refuse any trades placed by you that we judge to be clearly outside the prevailing market price such that they may be deemed non-market price transactions, whether due to manifest human error or stale, incorrect or broken price feeds. Where we have opened or closed a trade before becoming aware of the price disparity, we may at our absolute discretion either treat that trade as void or accept that trade at the prevailing market price.
7.10 7.11 As a client of ours ofours you hereby accept that the prices quoted by other byother companies may not be relied upon by you in respect of your account with us and that we reserve the right to decline any quote anyquote or refuse to be bound to any contract, including those arising from any manipulation of the quoting mechanism or our services generally, notwithstanding our undertaking to provide a clear and fair service to you at all times.
7.11 We may hedge our liability to you by opening analogous positions with other institutions or in the Underlying Market. The result of our doing this is that when you open or close a Transaction relating to a share or other Instrument with us, your Transactions can, through our hedging, exert a distorting influence VARIANSE | Client Agreement Page 7 of 31 VARIANSE is a trading name of VDX Derivatives. VDX Derivatives is authorised and regulated by the Financial Services Commission (FSC) in the republic of Mauritius with License Number C118023323. Registered Address: 00 Xx Xxxxxxx Xxxxxx, Xxxx Xxxxx, Xxxxxxxxx. on the Underlying Market for that Instrument, in addition to the impact that it may have on our own prices. This creates a possibility of market abuse and the function of this Term is to prevent such abuse. You represent and warrant to us now, and agree that each such representation and warranty is deemed repeated each time you open or close a Transaction, that:
a. you will not open and have not opened a Transaction or Transactions with us relating to a particular asset price if to do so would result in you, or others with whom you are acting in concert together, having an exposure to the asset price that is equal to or exceeds the amount of a declarable interest in the relevant company. For this purpose the level of a declarable interest will be the prevailing level at the material time, set by law or by the stock exchange(s) on which the underlying share is listed;
b. you will not open and have not opened a Transaction with us in connection with: i. a placing, issue, distribution or other analogous event; or
ii. an offer, take-over, merger or other analogous event, in which you are involved or otherwise interested; and
c. you will not open and have not opened a Transaction that contravenes any primary or secondary legislation or other law against insider dealing or market manipulation. For the purposes of this clause you agree that we may proceed on the basis that when you open or close a Transaction with us on a share price, you may be treated as dealing ‘in an Investment or a related investment’ within the meaning of the Markets Rules and relevant laws.
7.12 In the event that (a) you open any Transaction in breach of the representations and warranties given in this Agreement, or (b) we have reasonable grounds for suspecting that you have done so, we may, at our absolute discretion and without being under any obligation to inform you of our reason for doing so, close that Transaction and any other Transactions that you may have open at the time and also, at our absolute discretion:
a. enforce the Transaction or Transactions against you if it is a Transaction or Transactions under which you have incurred a loss; or
b. treat all your Transactions closed under this clause as void if they are Transactions under which you have secured a profit, unless and until you produce evidence that satisfies us that you have not, in fact, committed the breach of warranty and/or misrepresentation the suspicion of which was the ground for closing your Transaction(s). For the avoidance of doubt, if you do not produce such evidence within the period of six months from the date on which such Transaction was opened, all such Transactions will be finally null and void as between you and us.
7.13 You acknowledge that the Transactions in which you deal with us are speculative instruments and you agree that you will not open any Transactions with us in connection with any corporate finance style activity.
7.14 You acknowledge that it would be improper for you to deal in the Underlying Market if the sole purpose of such a transaction was to impact on our bid or offer prices, and you agree not to conduct any such transactions. If we reasonably suspect that you have performed abusive trading we may, at its absolute discretion, at any time and without prior Written Notice, take one or more of the following actions:
a. Terminate this Agreement immediately without prior notice to the Client;
b. Cancel any Open Positions; VARIANSE is a trading name of VDX Derivatives. VDX Derivatives is authorised and regulated by the Financial Services Commission (FSC) in the republic of Mauritius with License Number C118023323. Registered Address: 00 Xx Xxxxxxx Xxxxxx, Xxxx Xxxxx, Xxxxxxxxx.
c. Temporarily or permanently bar access to the Trading Platform or suspend or prohibit any functions of the Trading Platform;
d. Reject or Decline or refuse to transmit or execute any Order of the Client;
e. Restrict the Client’s trading activity;
f. In the case of fraud, reverse the funds back to real owner or according to the instructions of the law enforcement authorities of the relevant country;
g. Cancel or reverse of profits gained through abusive trading in the Client Account;
h. Take legal action for any losses suffered by the Company.
7.15 The Company has the right, at any time and for any reason and without giving any notice and/or explanation, to refuse, at its discretion, to execute any Order, including without limitation in the following cases:
a. If the Company has adequate reasons to suspect that the execution of an Order is part of an attempt to manipulate the market, trading on inside information, relates to money laundering activities or terrorist financing or fraud or if it can potentially affect in any manner the reliability, efficiency, or smooth operation of the Trading Platform.
b. If the Client does not have sufficient available funds deposited with the Company or in his bank account to pay the purchase price of an Order along with the respective fees and commissions necessary to carry out the transaction in the Trading Platform. In the event that the Company does refuse to execute an order, such refusal will not affect any obligation which the Client may have towards the Company or any right which the Company may have against the Client or his assets.
Appears in 1 contract
Samples: Service Agreement
Dealing. 7.1 We may execute your dealing instructions upon or in accordance with the rules of any market or exchange and through any No. 8443644 and is authorised and regulated by the Financial Conduct Authority. Registered No. 600837 000 Xxxxxxxxx, Xxxxxx, XX0X 0XX, Xxxxxx Xxxxxxx xxx.xxxxxxxxxxxxxxxxxxx.xxx / 0044 (0)207 967 1729 clearing house selected by us. We may enter into transactions for or with VARIANSE is a trading name of VDX Derivatives. VDX Derivatives is authorised and regulated by the Financial Services Commission (FSC) in the republic of Mauritius with License Number C118023323. Registered Address: 00 Xx Xxxxxxx Xxxxxx, Xxxx Xxxxx, Xxxxxxxxx. you which are not on or in accordance with the rules of any exchange for example, off-exchange transactions in foreign currencies, or in other non-readily realisable investments.
7.2 Assets and profits arising on closing a position, settlement or liquidation will be credited to your Account and losses will be debited from your Account. Any debit balance arising as a result of any close-out, settlement or liquidation will be payable by you forthwith whether or not demanded by us.
7.3 We shall be entitled to carry out all transactions in accordance with the rules, regulations, customs or practices of the relevant market, exchange and / or clearing house and all applicable laws whether imposed on you or us. We may take all such steps as may be required or permitted by such laws, rules, regulations, customs and / or market practice. We will be entitled to take or not take any reasonable action we consider fit in order to ensure compliance with the same and all such actions so taken will be binding upon you.
7.4 You agree that any transactions we effect for you will be subject to the rules, regulations, customs and practices of each relevant market, exchange, or clearing house on, through or with which we deal.
7.5 In order to give effect to your dealing instructions, we may at our discretion instruct an intermediate broker selected by us (which may be an Associate of ours). We accept full liability for any default by an intermediate broker which is our Associate, and undertake to use reasonable care and skill in the appointment and supervision of any intermediate broker and to make available to you and take, at your cost and expense, such action on your behalf as you may reasonably request in relation to any rights we have against such intermediate broker. Subject to this we accept no liability for any default of any intermediate broker nor do we accept any liability in relation to the default of any market, exchange or clearing house.
7.6 In executing transactions for or with you we will always deal with you as principal unless we have otherwise informed youprincipal. While we will take reasonable steps to obtain the best price available When you agree and acknowledge that save as required by the FCA Rules we execute an order on your behalf we will take all reasonable steps are under no obligation to obtain provide you with best execution in accordance with the best possible result for FCA Rules and you taking into account a number of relevant factorshereby waive any such requirements.
7.7 We may at our discretion aggregate your orders with our own orders or those of other clients of ours or our Associates. We will allocate the proceeds of such orders among the participating accounts in a manner which we believe to be fair and equitable. If the combined order is not executed at the same price we may average the prices paid or received and debit or credit your Account with the average net price. Details of average price will be furnished on request. Such allocation must take place within five business days of execution. In aggregating your orders in this way we must reasonably believe this will be to your advantage, for instance to obtain better execution or reduced foreign exchange or other dealing costs by being part of a larger transaction. However, on occasion, aggregation and allocation may result in you obtaining a less favourable price.
7.8 Where we are unable or consider it undesirable or inappropriate to execute your order at once or in a single transaction we may execute it over such period as we deem appropriate and we may report to you an average price for a series of transactions so executed instead of the actual price of each transaction.
7.8 7.9 We may undertake a program trade or trades comprising a single transaction or series of transactions on your behalf. In doing so we will always act as principal.
7.9 7.10 We reserve the right to refuse any trades placed by you that we judge to be clearly outside the prevailing market price such that they may be deemed non-market price transactions, whether due to manifest human error or stale, incorrect or broken price feeds. Where we have opened or closed a trade before becoming aware of the price disparity, we may at our absolute discretion either treat that trade as void or accept that trade at the prevailing market price.
7.10 7.11 We are a market maker and may quote prices at which we are prepared to deal with our clients and such prices may or may not replicate the prices quoted and traded by other companies and / or their customers. As a client of ours you hereby accept that the prices quoted by other companies may not be relied upon by you in respect of your account with us and that we reserve the right to decline any quote or refuse to be bound to any contract, including those arising from any manipulation of the quoting mechanism or our services generally, notwithstanding our undertaking to provide a clear and fair service to you at all times.
7.11 We may hedge our liability to you by opening analogous positions with other institutions or in the Underlying Market. The result of our doing this is that when you open or close a Transaction relating to a share or other Instrument with us, your Transactions can, through our hedging, exert a distorting influence VARIANSE | Client Agreement Page 7 of 31 VARIANSE is a trading name of VDX DerivativesNo. VDX Derivatives 8443644 and is authorised and regulated by the Financial Services Commission (FSC) in the republic of Mauritius with License Number C118023323Conduct Authority. Registered Address: 00 Xx Xxxxxxx No. 600837 000 Xxxxxxxxx, Xxxxxx, Xxxx XxxxxXX0X 0XX, Xxxxxxxxx. on the Underlying Market for that Instrument, in addition to the impact that it may have on our own prices. This creates a possibility of market abuse and the function of this Term is to prevent such abuse. You represent and warrant to us now, and agree that each such representation and warranty is deemed repeated each time you open or close a Transaction, that:
a. you will not open and have not opened a Transaction or Transactions with us relating to a particular asset price if to do so would result in you, or others with whom you are acting in concert together, having an exposure to the asset price that is equal to or exceeds the amount of a declarable interest in the relevant company. For this purpose the level of a declarable interest will be the prevailing level at the material time, set by law or by the stock exchange(s) on which the underlying share is listed;
b. you will not open and have not opened a Transaction with us in connection with: i. a placing, issue, distribution or other analogous event; or
ii. an offer, take-over, merger or other analogous event, in which you are involved or otherwise interested; and
c. you will not open and have not opened a Transaction that contravenes any primary or secondary legislation or other law against insider dealing or market manipulation. For the purposes of this clause you agree that we may proceed on the basis that when you open or close a Transaction with us on a share price, you may be treated as dealing ‘in an Investment or a related investment’ within the meaning of the Markets Rules and relevant laws.
7.12 In the event that Xxxxxx Xxxxxxx xxx.xxxxxxxxxxxxxxxxxxx.xxx / 0000 (a) you open any Transaction in breach of the representations and warranties given in this Agreement, or (b) we have reasonable grounds for suspecting that you have done so, we may, at our absolute discretion and without being under any obligation to inform you of our reason for doing so, close that Transaction and any other Transactions that you may have open at the time and also, at our absolute discretion:
a. enforce the Transaction or Transactions against you if it is a Transaction or Transactions under which you have incurred a loss; or
b. treat all your Transactions closed under this clause as void if they are Transactions under which you have secured a profit, unless and until you produce evidence that satisfies us that you have not, in fact, committed the breach of warranty and/or misrepresentation the suspicion of which was the ground for closing your Transaction(s). For the avoidance of doubt, if you do not produce such evidence within the period of six months from the date on which such Transaction was opened, all such Transactions will be finally null and void as between you and us.
7.13 You acknowledge that the Transactions in which you deal with us are speculative instruments and you agree that you will not open any Transactions with us in connection with any corporate finance style activity.
7.14 You acknowledge that it would be improper for you to deal in the Underlying Market if the sole purpose of such a transaction was to impact on our bid or offer prices, and you agree not to conduct any such transactions. If we reasonably suspect that you have performed abusive trading we may, at its absolute discretion, at any time and without prior Written Notice, take one or more of the following actions:
a. Terminate this Agreement immediately without prior notice to the Client;
b. Cancel any Open Positions; VARIANSE is a trading name of VDX Derivatives. VDX Derivatives is authorised and regulated by the Financial Services Commission (FSC) in the republic of Mauritius with License Number C118023323. Registered Address: 00 Xx Xxxxxxx Xxxxxx, Xxxx Xxxxx, Xxxxxxxxx.
c. Temporarily or permanently bar access to the Trading Platform or suspend or prohibit any functions of the Trading Platform;
d. Reject or Decline or refuse to transmit or execute any Order of the Client;
e. Restrict the Client’s trading activity;
f. In the case of fraud, reverse the funds back to real owner or according to the instructions of the law enforcement authorities of the relevant country;
g. Cancel or reverse of profits gained through abusive trading in the Client Account;
h. Take legal action for any losses suffered by the Company.
7.15 The Company has the right, at any time and for any reason and without giving any notice and/or explanation, to refuse, at its discretion, to execute any Order, including without limitation in the following cases:
a. If the Company has adequate reasons to suspect that the execution of an Order is part of an attempt to manipulate the market, trading on inside information, relates to money laundering activities or terrorist financing or fraud or if it can potentially affect in any manner the reliability, efficiency, or smooth operation of the Trading Platform.
b. If the Client does not have sufficient available funds deposited with the Company or in his bank account to pay the purchase price of an Order along with the respective fees and commissions necessary to carry out the transaction in the Trading Platform. In the event that the Company does refuse to execute an order, such refusal will not affect any obligation which the Client may have towards the Company or any right which the Company may have against the Client or his assets.0)000 000 0000
Appears in 1 contract
Samples: Service Agreement
