Common use of Electronic Settlement/Trade Confirmations Clause in Contracts

Electronic Settlement/Trade Confirmations. Following the execution of a dealing Instruction for your Account, we will confirm that Transaction and/or Contract as soon as we reasonably can by posting a trade confirmation (“Settlement/Trade Confirmation”) to your open positions window (if an opening transaction) or closed positions window (if a closing transaction) on our Online Trading Facility, but failure to do so will not affect the validity of the transaction. Settlement/Trade Confirmations will normally be available instantly following the execution of the Transaction via our Online Trading Facility. Confirmations shall be deemed to be conclusive and binding on you if not objected to immediately upon receipt with such objection confirmed in writing (including e-mail or electronic mail) no later than close of business on the ‘Business Day’ (being any calendar day (except any Saturday or Sunday) calendar day, beginning at 00:00 GMT + 2 and ending at 23:59 GMT + 2, on which banks in Cyprus are open for business) following the day on which the Settlement/Trade Confirmation is posted to your open positions window (if an opening transaction) or closed positions window (if a closing transaction) on our Online Trading Facility. In the event that you believe to have entered into a Transaction or Contract, which should have produced a Settlement/Trade Confirmation or otherwise a posting on your Account, but you have not received such confirmation, you must inform us immediately when you ought to have received such confirmation. In the absence of such information, the Transaction and/or Contract may, at our reasonable discretion, be deemed to be non–existent.

Electronic Settlement/Trade Confirmations. Following the execution of a dealing Instruction for your Account, we will confirm that Transaction and/or Contract as soon as we reasonably can by posting a trade confirmation (“Settlement/Trade Confirmation”) to your open positions window (if an opening transaction) or closed positions window (if a closing transaction) on our Online Trading Facility, but failure to do so will not affect the validity of the transaction. Settlement/Trade Confirmations will normally be available instantly following the execution of the Transaction via our Online Trading Facility. Confirmations shall be deemed to be conclusive and binding on you if not objected to immediately upon receipt with such objection confirmed in writing (including e-mail or electronic mail) no later than close of business on the ‘Business Day’ (being any calendar day (except any Saturday or Sunday) calendar day, beginning at 00:00 GMT + 2 11 and ending at 23:59 GMT + 211, on which banks in Cyprus Bermuda are open for business) following the day on which the Settlement/Trade Confirmation is posted to your open positions window (if an opening transaction) or closed positions window (if a closing transaction) on our Online Trading Facility. In the event that you believe to have entered into a Transaction or Contract, which should have produced a Settlement/Trade Confirmation or otherwise a posting on your Account, but you have not received such confirmation, you must inform us immediately when you ought to have received such confirmation. In the absence of such information, the Transaction and/or Contract may, at our reasonable discretion, be deemed to be non–existent.