Common use of Margin for CFDs Clause in Contracts

Margin for CFDs. a. CFD transactions are subject to the IBIE Margin Policies described in this Agreement. (i) If the Client is a Retail Client, Margin Requirements for CFDs will be subject to the requirements of any CFD Measure as applicable. To the extent that IBIE’s Margin Requirements exceed the margin levels prescribed by the relevant CFD Measure, IBIE may modify Margin Requirements for any CFD or all CFDs for any open or new positions at any time, in IBIE’s sole discretion. (ii) If the Client is a Professional Client, Margin Requirements for CFDs generally will be calculated based on risk models utilised in IBIE's sole discretion. IBIE may modify Margin Requirements for any CFD or all CFDs for any open or new positions at any time, in IBIE's sole discretion. b. The Client shall monitor their account so that at all times (including intra-day) the account contains sufficient equity to meet Margin Requirements. IBIE generally will not issue margin calls and generally will not allow any grace period in Client's account for the Client to meet intraday or other margin deficiencies. (i) If the Client is a Retail Client, Margin Requirements for CFDs will be subject to the minimum requirements in the any applicable CFD Measure. In addition, IBIE’s Margin Requirements may exceed the levels in the CFD Measure. IBIE is authorised to liquidate CFD positions immediately in order to satisfy Margin Requirements without prior notice. Retail Client’s accounts will be subject to the negative balance protection in the any applicable CFD Measure. IF YOU HAVE NOT BEEN CLASSIFIED AS A RETAIL CLIENT YOU WILL NOT BE ELIGIBLE FOR NEGATIVE BALANCE PROTECTION. (ii) If the Client is a Professional Client, IBIE is authorised to liquidate CFD and other account positions immediately in order to satisfy Margin Requirements without prior notice. c. IBIE shall calculate a Reference Price for the CFD after the close of trading on each trading day. For CFDs on shares and indexes the Reference Price shall generally be based on the daily settlement price of the underlying product on the primary exchange on which the underlying product is traded. However, for those CFDs, and for CFDs involving Forex, IB reserves the right to use any reasonable price as the Reference Price in IBIE's sole discretion (e.g., in the event of a trading interruption or halt at the end of day on the primary exchange, or in the event of other circumstances affecting the underlying product or market pricing, or if the underlying product is not traded on an exchange). After the close of trading, if, on any business day during the term of the CFD, the current Reference Price is higher than the close of business Reference Price of the preceding business day, then if you are long IBIE shall be liable to you for such difference, and if you are short you shall be liable to IBIE for such difference. If, on any business day during the term of the CFD, the current Reference Price is lower than the close of business Reference Price of the preceding business day, then if you are long you shall be liable to pay IBIE the difference, and if you are short, IBIE shall be liable to pay you the difference. IBIE generally will process these credits/debits prior to the opening of trading on the following trading day, but IBIE reserves the right to delay processing if circumstances reasonably warrant the delay. d. In the event that any price for an underlying product published on an exchange or by the sponsor of an index, and which is utilised by IBIE for its Reference Price calculation, is subsequently corrected, IBIE reserves the right to make an appropriate adjustment to your account in the amount payable by you as a result of the erroneous Reference Price, including any interest due accruing from the date of the error to the date of the correction adjustment.

Margin for CFDs. a. 12.1.8.1 CFD transactions are subject to the IBIE IB UK Margin Policies described in this Agreement. (i) A. If the Client is a Retail Client, Margin Requirements for CFDs will be subject to the requirements of any CFD Measure as applicableESMA Decision. To the extent that IBIEIB UK’s Margin Requirements exceed the margin levels prescribed by the relevant CFD MeasureESMA Decision, IBIE IB UK may modify Margin Requirements for any CFD or all CFDs for any open or new positions at any time, in IBIEIB UK’s sole discretion. (ii) B. If the Client is a Professional Client, Margin Requirements for CFDs generally will be calculated based on risk models utilised in IBIEIB UK's sole discretion. IBIE IB UK may modify Margin Requirements for any CFD or all CFDs for any open or new positions at any time, in IBIEIB UK's sole discretion. b. The 12.1.8.2 Client shall monitor their account so that at all times (including intra-day) the account contains sufficient equity to meet Margin Requirements. IBIE IB UK generally will not issue margin calls and generally will not allow any grace period in Client's account for the Client to meet intraday or other margin deficiencies. (i) A. If the Client is a Retail Client, Margin Requirements for CFDs will be are subject to the minimum requirements in the any applicable CFD MeasureESMA Decision. In addition, IBIEIB UK’s Margin Requirements may exceed the levels in the CFD MeasureESMA Decision. IBIE IB UK is authorised to liquidate CFD positions immediately in order to satisfy Margin Requirements without prior notice. Retail Client’s accounts will be are subject to the negative balance protection in the any applicable CFD MeasureESMA Decision if still in effect. IF YOU HAVE NOT BEEN CLASSIFIED AS A RETAIL CLIENT YOU WILL NOT BE ELIGIBLE FOR NEGATIVE BALANCE PROTECTION. (ii) B. If the Client is a Professional Client, IBIE IB UK is authorised to liquidate CFD and other account positions immediately in order to satisfy Margin Requirements without prior notice. c. IBIE 12.1.8.3 IB UK shall calculate a Reference Price for the CFD after the close of trading on each trading day. For CFDs on shares and indexes the Reference Price shall generally be based on the daily settlement price of the underlying product on the primary exchange on which the underlying product is traded. However, for those CFDs, and for CFDs involving Forex, IB reserves the right to use any reasonable price as the Reference Price in IBIEIB UK's sole discretion (e.g., in the event of a trading interruption or halt at the end of day on the primary exchange, or in the event of other circumstances affecting the underlying product or market pricing, or if the underlying product is not traded on an exchange). After the close of trading, if, on any business day during the term of the CFD, the current Reference Price is higher than the close of business Reference Price of the preceding business day, then if you are long IBIE IB UK shall be liable to you for such difference, and if you are short you shall be liable to IBIE IB UK for such difference. If, on any business day during the term of the CFD, the current Reference Price is lower than the close of business Reference Price of the preceding business day, then if you are long you shall be liable to pay IBIE IB UK the difference, and if you are short, IBIE IB UK shall be liable to pay you the difference. IBIE IB UK generally will process these credits/debits prior to the opening of trading on the following trading day, but IBIE IB UK reserves the right to delay processing if circumstances reasonably warrant the delay. d. 12.1.8.4 In the event that any price for an underlying product published on an exchange or by the sponsor of an index, and which is utilised by IBIE IB UK for its Reference Price calculation, is subsequently corrected, IBIE IB UK reserves the right to make an appropriate adjustment to your account in the amount payable by you as a result of the erroneous Reference Price, including any interest due accruing from the date of the error to the date of the correction adjustment.

Margin for CFDs. a. CFD transactions are subject to the IBIE IBLUX Margin Policies described in this Agreement. (i) If the Client is a Retail Client, Margin Requirements for CFDs will be subject to the requirements of any CFD Measure as applicableESMA Decision. To the extent that IBIEIBLUX’s Margin Requirements exceed the margin levels prescribed by the relevant CFD MeasureESMA Decision, IBIE IBLUX may modify Margin Requirements for any CFD or all CFDs for any open or new positions at any time, in IBIEIBLUX’s sole discretion. (ii) If the Client is a Professional Client, Margin Requirements for CFDs generally will be calculated based on risk models utilised in IBIEIBLUX's sole discretion. IBIE IBLUX may modify Margin Requirements for any CFD or all CFDs for any open or new positions at any time, in IBIEIBLUX's sole discretion. b. The Client shall monitor their account so that at all times (including intra-day) the account contains sufficient equity to meet Margin Requirements. IBIE IBLUX generally will not issue margin calls and generally will not allow any grace period in Client's account for the Client to meet intraday or other margin deficiencies. (i) If the Client is a Retail Client, Margin Requirements for CFDs will be are subject to the minimum requirements in the any applicable CFD MeasureESMA Decision. In addition, IBIEIBLUX’s Margin Requirements may exceed the levels in the CFD MeasureESMA Decision. IBIE IBLUX is authorised to liquidate CFD positions immediately in order to satisfy Margin Requirements without prior notice. Retail Client’s accounts will be are subject to the negative balance protection in the any applicable CFD MeasureESMA Decision if still in effect. IF YOU HAVE NOT BEEN CLASSIFIED AS A RETAIL CLIENT YOU WILL NOT BE ELIGIBLE FOR NEGATIVE BALANCE PROTECTION. (ii) If the Client is a Professional Client, IBIE IBLUX is authorised to liquidate CFD and other account positions immediately in order to satisfy Margin Requirements without prior notice. c. IBIE IBLUX shall calculate a Reference Price for the CFD after the close of trading on each trading day. For CFDs on shares and indexes the Reference Price shall generally be based on the daily settlement price of the underlying product on the primary exchange on which the underlying product is traded. However, for those CFDs, and for CFDs involving Forex, IB reserves the right to use any reasonable price as the Reference Price in IBIEIBLUX's sole discretion (e.g., in the event of a trading interruption or halt at the end of day on the primary exchange, or in the event of other circumstances affecting the underlying product or market pricing, or if the underlying product is not traded on an exchange). After the close of trading, if, on any business day during the term of the CFD, the current Reference Price is higher than the close of business Reference Price of the preceding business day, then if you are long IBIE IBLUX shall be liable to you for such difference, and if you are short you shall be liable to IBIE IBLUX for such difference. If, on any business day during the term of the CFD, the current Reference Price is lower than the close of business Reference Price of the preceding business day, then if you are long you shall be liable to pay IBIE IBLUX the difference, and if you are short, IBIE IBLUX shall be liable to pay you the difference. IBIE IBLUX generally will process these credits/debits prior to the opening of trading on the following trading day, but IBIE IBLUX reserves the right to delay processing if circumstances reasonably warrant the delay. d. In the event that any price for an underlying product published on an exchange or by the sponsor of an index, and which is utilised by IBIE IBLUX for its Reference Price calculation, is subsequently corrected, IBIE IBLUX reserves the right to make an appropriate adjustment to your account in the amount payable by you as a result of the erroneous Reference Price, including any interest due accruing from the date of the error to the date of the correction adjustment.

Margin for CFDs. a. (a) CFD transactions are subject to the IBIE IBLUX Margin Policies described in this Agreement. (i) If the Client is a Retail Client, Margin Requirements for CFDs will be subject to the requirements of any CFD Measure as applicableESMA Decision. To the extent that IBIEIBLUX’s Margin Requirements exceed the margin levels prescribed by the relevant CFD MeasureESMA Decision, IBIE IBLUX may modify Margin Requirements for any CFD or all CFDs for any open or new positions at any time, in IBIEIBLUX’s sole discretion. (ii) If the Client is a Professional Client, Margin Requirements for CFDs generally will be calculated based on risk models utilised in IBIE's IBLUX’s sole discretion. IBIE IBLUX may modify Margin Requirements for any CFD or all CFDs for any open or new positions at any time, in IBIE's IBLUX’s sole discretion. b. The (b) Client shall monitor their account so that at all times (including intra-day) the account contains sufficient equity to meet Margin Requirements. IBIE IBLUX generally will not issue margin calls and generally will not allow any grace period in Client's ’s account for the Client to meet intraday or other margin deficiencies. (i) If the Client is a Retail Client, Margin Requirements for CFDs will be are subject to the minimum requirements in the any applicable CFD MeasureESMA Decision. In addition, IBIEIBLUX’s Margin Requirements may exceed the levels in the CFD MeasureESMA Decision. IBIE IBLUX is authorised to liquidate CFD positions immediately in order to satisfy Margin Requirements without prior notice. Retail Client’s accounts will be are subject to the negative balance protection in the any applicable CFD MeasureESMA Decision if still in effect. IF YOU HAVE NOT BEEN CLASSIFIED AS A RETAIL CLIENT YOU WILL NOT BE ELIGIBLE FOR NEGATIVE BALANCE PROTECTION. (ii) If the Client is a Professional Client, IBIE IBLUX is authorised to liquidate CFD and other account positions immediately in order to satisfy Margin Requirements without prior notice. c. IBIE (c) IBLUX shall calculate a Reference Price for the CFD after the close of trading on each trading day. For CFDs on shares and indexes the Reference Price shall generally be based on the daily settlement price of the underlying product on the primary exchange on which the underlying product is traded. However, for those CFDs, and for CFDs involving Forex, IB reserves the right to use any reasonable price as the Reference Price in IBIE's IBLUX’s sole discretion (e.g., in the event of a trading interruption or halt at the end of day on the primary exchange, or in the event of other circumstances affecting the underlying product or market pricing, or if the underlying product is not traded on an exchange). After the close of trading, if, on any business day during the term of the CFD, the current Reference Price is higher than the close of business Reference Price of the preceding business day, then if you are long IBIE IBLUX shall be liable to you for such difference, and if you are short you shall be liable to IBIE IBLUX for such difference. If, on any business day during the term of the CFD, the current Reference Price is lower than the close of business Reference Price of the preceding business day, then if you are long you shall be liable to pay IBIE IBLUX the difference, and if you are short, IBIE IBLUX shall be liable to pay you the difference. IBIE IBLUX generally will process these credits/debits prior to the opening of trading on the following trading day, but IBIE IBLUX reserves the right to delay processing if circumstances reasonably warrant the delay. d. (d) In the event that any price for an underlying product published on an exchange or by the sponsor of an index, and which is utilised by IBIE IBLUX for its Reference Price calculation, is subsequently corrected, IBIE IBLUX reserves the right to make an appropriate adjustment to your account in the amount payable by you as a result of the erroneous Reference Price, including any interest due accruing from the date of the error to the date of the correction adjustment.

Margin for CFDs. a. 12.1.8.1 CFD transactions are subject to the IBIE IBUK Margin Policies described in this Agreement. (i) A. If the Client is a Retail Client, Margin Requirements for CFDs will be subject to the requirements of any CFD Measure as applicableApplicable Law. To the extent that IBIEXXXX’s Margin Requirements exceed the margin levels prescribed by the relevant CFD MeasureFCA Rules, IBIE IBUK may modify Margin Requirements for any CFD or all CFDs for any open or new positions at any time, in IBIEIBUK’s sole discretion. (ii) B. If the Client is a Professional Client, Margin Requirements for CFDs generally will be calculated based on risk models utilised in IBIEIBUK's sole discretion. IBIE IBUK may modify Margin Requirements for any CFD or all CFDs for any open or new positions at any time, in IBIEXXXX's sole discretion. b. 12.1.8.2 The Client shall monitor their account so that at all times (including intra-day) the account contains sufficient equity to meet Margin Requirements. IBIE IBUK generally will not issue margin calls and generally will not allow any grace period in the Client's account for the Client to meet intraday or other margin deficiencies. (i) A. If the Client is a Retail Client, Margin Requirements for CFDs will be are subject to the minimum requirements in the any applicable CFD MeasureFCA Rules. In addition, IBIEXXXX’s Margin Requirements may exceed the levels in the CFD MeasureFCA Rules. IBIE XXXX is authorised to liquidate CFD positions immediately in order to satisfy Margin Requirements for CFDs without prior notice. Retail Client’s accounts will be are subject to the negative balance protection in the any applicable CFD MeasureFCA Rules. IF YOU HAVE NOT BEEN CLASSIFIED AS A RETAIL CLIENT YOU WILL NOT BE ELIGIBLE FOR NEGATIVE BALANCE PROTECTION. (ii) B. If the Client is a Professional Client, IBIE IBUK is authorised to liquidate CFD and other account positions immediately in order to satisfy Margin Requirements without prior notice. c. IBIE 12.1.8.3 IBUK shall calculate a Reference Price reference price for the CFD after the close of trading on each trading day. For CFDs on shares and indexes the Reference Price reference price shall generally be based on the daily settlement price of the underlying product on the primary exchange on which the underlying product is traded. However, for those CFDs, and for CFDs involving Forex, IB IBUK reserves the right to use any reasonable price as the Reference Price reference price in IBIEIBUK's sole discretion (e.g., in the event of a trading interruption or halt at the end of day on the primary exchange, or in the event of other circumstances affecting the underlying product or market pricing, or if the underlying product is not traded on an exchange). After the close of trading, if, on any business day during the term of the CFD, the current Reference Price reference price is higher than the close of business Reference Price of the preceding business day, then if you are long IBIE shall be liable to you for such difference, and if you are short you shall be liable to IBIE for such difference. If, on any business day during the term of the CFD, the current Reference Price is lower than the close of business Reference Price of the preceding business day, then if you are long you shall be liable to pay IBIE the difference, and if you are short, IBIE shall be liable to pay you the difference. IBIE generally will process these credits/debits prior to the opening of trading on the following trading day, but IBIE reserves the right to delay processing if circumstances reasonably warrant the delay.close d. 12.1.8.4 In the event that any price for an underlying product published on an exchange or by the sponsor of an index, and which is utilised by IBIE IBUK for its Reference Price reference price calculation, is subsequently corrected, IBIE IBUK reserves the right to make an appropriate adjustment to your account in the amount payable by you as a result of the erroneous Reference Pricereference price, including any interest due accruing from the date of the error to the date of the correction adjustment.