Common use of Margin Call Clause in Contracts

Margin Call. 7.1 Xxxxxx calls must be met on demand of Galaxy International Futures (or such other time limit as may be specified by Galaxy International Futures from time to time, however, never later than the time the relevant Exchange requires client margin to be met). Without prejudice to the provisions of clause 3.5 of this Part E, Client’s failure to meet such calls may result in Galaxy International Futures being entitled or obliged by the rules or regulations of the relevant Exchange and/or Clearing House to close out the Open Contracts held on behalf of the Client in respect of which calls have not been met, and/or to notify the relevant Exchange, Clearing House or broker particulars of such Open Contracts. The Client acknowledges that Galaxy International Futures will report to the Futures Exchange and the SFC particulars of all open positions in respect of which two successive margin calls and demands for variation adjustment are not met within the period specified by Galaxy International Futures and Galaxy International Futures may require more margin or variation adjustments than that specified by the Futures Exchange and/ or Clearing House and may close out open positions in respect of which any margin calls and demands for variation adjustments are not met within the period specified by Galaxy International Futures or at the time of making such call(s) or demands(s). 7.2 Unless specifically instructed by the Client, Futures Contract and/or options contract held in the Account which the Exchange allows to be set off for margin purpose will automatically be set off for the determination of Margin without reference to the Client, but these Futures Contract and/or options contract will not be closed out or treated as netted off for any other purpose. 7.3 If the Client maintains a cash account with Galaxy International Futures for options contracts, only long options contract positions can be carried in the account. The Client shall pay Galaxy International Futures the full cash value of the premium of the options contract on the date of the Client’s instruction to Galaxy International Futures to purchase the options contract.

Margin Call. 7.1 Xxxxxx Margin calls must be met on demand of Galaxy International Futures (or such other time limit as may be specified by Galaxy International Futures from time to time, however, never later than the time the relevant Exchange requires client margin to be met). Without prejudice to the provisions of clause 3.5 of this Part E, Client’s failure to meet such calls may result in Galaxy International Futures being entitled or obliged by the rules or regulations of the relevant Exchange and/or Clearing House to close out the Open Contracts held on behalf of the Client in respect of which calls have not been met, and/or to notify the relevant Exchange, Clearing House or broker particulars of such Open Contracts. The Client acknowledges that Galaxy International Futures will report to the Futures Exchange and the SFC particulars of all open positions in respect of which two successive margin calls and demands for variation adjustment are not met within the period specified by Galaxy International Futures and Galaxy International Futures may require more margin or variation adjustments than that specified by the Futures Exchange and/ or Clearing House and may close out open positions in respect of which any margin calls and demands for variation adjustments are not met within the period specified by Galaxy International Futures or at the time of making such call(s) or demands(s). 7.2 Unless specifically instructed by the Client, Futures Contract and/or options contract held in the Account which the Exchange allows to be set off for margin purpose will automatically be set off for the determination of Margin without reference to the Client, but these Futures Contract and/or options contract will not be closed out or treated as netted off for any other purpose. 7.3 If the Client maintains a cash account with Galaxy International Futures for options contracts, only long options contract positions can be carried in the account. The Client shall pay Galaxy International Futures the full cash value of the premium of the options contract on the date of the Client’s instruction to Galaxy International Futures to purchase the options contract.