Common use of Margin Or Additional Margin Requirements Or Demands For Variation Adjustment Clause in Contracts

Margin Or Additional Margin Requirements Or Demands For Variation Adjustment. 14.1 You agree to provide to and maintain with Galaxy International Securities and/or Galaxy International Futures such margin together with such guarantees and other security in such form and amount and on such terms as Galaxy International Securities and/or Galaxy International Futures may in its absolute discretion require from time to time. Such margin requirements established by Galaxy International Securities and/or Galaxy International Futures may exceed any margin requirements prescribed by any Exchange or Clearing house or broker. Galaxy International Securities and/or Galaxy International Futures may change margin requirement in its sole discretion and at any time without prior to the Client. If Galaxy International Securities and/or Galaxy International Futures determines that additional margin is required, the Client agrees to deposit with Galaxy International Securities and/or Galaxy International Futures such additional margin forthwith upon demand. 14.2 In respect of all futures contracts and/or option contracts entered into by Galaxy International Securities and/or Galaxy International Futures on behalf of the Client, the client shall provide to Galaxy International Securities and/or Galaxy International Futures such margin or additional margin or demands for variation adjustment as Galaxy International Securities and/or Galaxy International Futures may in its absolute discretion require immediately upon demand. Such calls for margin or additional margin requirements or demands for variation adjustment by Galaxy International Securities and/or Galaxy International Futures may exceed the margin requirements or variation adjustments prescribed by Futures Exchange or Clearing House and may be changed by Galaxy International Securities and/or Galaxy International Futures with immediate effect without prior notice to the Client. Galaxy International Securities and/or Galaxy International Futures is obliged to report to the Futures Exchange particulars of all Open Contracts in respect of which the Client has failed on two successive occasions to meet a demand for margin or additional margin or variation adjustments and Galaxy International Securities and/or Galaxy International Futures may close out the Client’s Open Contracts in respect of which any demand for margin or additional margin variation adjustments has not been met.