MAINTAINING AND CLOSING A TRANSACTION. (1) Closing a CFD
(a) You agree and acknowledge that:
(i) At any time, you may give Mitrade via the trading platform, email or otherwise notice of your intention to close any CFD (whether in whole or part) by specifying the Underlying Instrument and the proportion of the CFD that you wish to close.
(ii) Upon receipt of a Closing Notice, Mitrade shall use reasonable endeavours to provide a quote for the Closing Price and notify you of that quote (by email or otherwise). It is your obligation to notify Mitrade as soon as possible (by email or otherwise) as to whether you are willing to offer to close at the Closing Price. Should Mitrade accept the Closing Price, the CFD, or relevant portion of the CFD, will be closed on the Closing Date.
(iii) If a company, whose security represents all or part of the subject matter of a CFD, becomes externally administered, the CFD is taken to have been closed at the time that such administration commences. The Closing Price shall be determined by Mitrade who may have regard to any factors it considers appropriate including, for example, the last traded price of the Underlying Instrument.
(iv) Without limiting Xxxxxxx’s discretion, if any of the Underlying Instruments cease to be quoted on a Relevant Exchange, or are suspended from quotation, or subject to a trading halt for 5 or more consecutive Business Days (or such other time as Mitrade may reasonably determine), Mitrade may, in its absolute discretion, elect to terminate the relevant CFD by providing written notice to you.
(v) It may not be possible to close out a CFD if there is a suspension or trading or a trading halt in respect of the Underlying Instrument. In such a circumstance, Xxxxxxx may decide, in its absolute discretion, not to close a CFD and/or provide a re- pricing of the position.
(vi) As at Business Close on the day that a CFD is closed out, Mitrade will calculate the remaining payment rights and obligations between you and Mitrade based on the difference between the Closing Value and the Contract Value at the time it was entered into and taking into account any Margin which has already been debited from or credited to your Account in respect of that CFD.
(vii) All determinations and calculations made by Mitrade pursuant to this Client Agreement will be binding on you.
MAINTAINING AND CLOSING A TRANSACTION. (1) Closing a CFD
(a) You agree and acknowledge that:
(i) At any time, you may give UDMarkets via the trading platform, email or otherwise notice of your intention to close any CFD ( whether in whole or part) by specifying the Underlying Instrument and the proportion of the CFD that you wish to close.
