Derivative. A derivative is a security with a price that is dependent upon or derived from one or more underlying assets. The derivative itself is a contract between two or more parties based upon the asset or assets. Its value is determined by fluctuations in the underlying asset. Underlying assets include stocks bonds, commodities, currencies and market indexes. In the case of INFINOX’s trading platforms, all derivatives are traded Over the Counter (OTC) i.e., off an exchange. Event of Default means (a) an Act of Insolvency occurs in relation to you; (b) you are an individual and you die or become of unsound mind; (c) you act in breach of any of your obligations under this Agreement; (d) any representation or warranty made by you under this Agreement and/or any information provided to us in connection with this Agreement is or becomes untrue or misleading; (e) any amount due to us is not paid in accordance with this Agreement; and (f) at any time and for any periods deemed reasonable by us where you are not contactable or you do not respond to any notice or correspondence from us. The suspension, closure, liquidation, imposition of limits, special, or unusual terms, excessive movement, volatility or loss of liquidity in any relevant Market or Reference Asset, or where INFINOX reasonably anticipates any of the above circumstances are about to occur. The last possible date and time at which any CFD Trade or Pending Order will automatically expire. Means a Transaction which had a set contract period at the end of which the Expiry Transaction expires automatically.
Appears in 5 contracts
Samples: Client Agreement, Client Agreement, Client Agreement
