Multi-Currency Function in IBIE Accounts Sample Clauses

Multi-Currency Function in IBIE Accounts. (i) The Client may be able to trade Products denominated in different currencies. If you instruct us to enter into any Transaction that is effected in another currency: (a) all payments shall be made in the currency in which the Transaction is denominated (i.e., the account shall be credited or debited in the transaction currency) unless otherwise indicated by IBIE; (b) any profit or loss arising as a result of a fluctuation in the exchange rate affecting such currency will be entirely for your account.
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Multi-Currency Function in IBIE Accounts a. The Client may be able to trade products denominated in different currencies using a base currency chosen by the Client. Upon purchase of a product denominated in a different currency from the base currency, a margin loan is created to fund the purchase, secured by the assets in the Client's accounts. If the Client maintains positions denominated in foreign currencies, IBIE will calculate Margin Requirements by applying exchange rates specified by IBIE. IBIE WILL APPLY "HAIRCUTS" (A PERCENTAGE DISCOUNT ON THE FOREIGN CURRENCY EQUITY AMOUNT) TO REFLECT THE POSSIBILITY OF FLUCTUATING EXCHANGE RATES BETWEEN THE BASE CURRENCY AND THE FOREIGN CURRENCY. THE CLIENT MUST CLOSELY MONITOR MARGIN REQUIREMENTS AT ALL TIMES, PARTICULARLY FOR POSITIONS DENOMINATED IN FOREIGN CURRENCIES, BECAUSE FLUCTUATION IN THE CURRENCY AND THE VALUE OFTHE UNDERLYING POSITION CAN CAUSE A MARGIN DEFICIT. b. The Client agrees that IBIE’s obligations to the Client shall be denominated in: (i) the account base currency; (ii) a currency in which funds were deposited by the Client or were converted at the request of the Client, to the extent of such deposits and conversions; or (iii) a currency in which funds have accrued to the Client as a result of trading conducted on a designated contract market or registered derivatives transaction execution facility, to the extent of such accruals. Information regarding the Client’s currency conversions is provided on the IBIE Client statements. The Client further agrees that IBIE may hold Client funds under the conditions specified in the Customer Agreement.
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Related to Multi-Currency Function in IBIE Accounts

  • Transactions in Foreign Currencies and Transactions Processed Outside Singapore a. Foreign currency transactions

  • Base Currency For the purposes of any calculation hereunder, we may convert amounts denominated in any other currency into the Base Currency at such rate prevailing at the time of the calculation as we shall reasonably select.

  • Determine Whether a Non-U.S. Entity Is a Financial Institution a) Review information maintained for regulatory or customer relationship purposes (including information collected pursuant to AML/KYC Procedures) to determine whether the information indicates that the Account Holder is a Financial Institution.

  • Currency All sums of money which are referred to in this Agreement are expressed in lawful money of Canada, unless otherwise specified.

  • Foreign Currency The term “

  • Transactions Made in Foreign Currencies If a transaction is made in a foreign currency, we and MasterCard International or VISA International, depending on which card is used, will convert the transaction into a U.S. dollar amount. MasterCard and VISA will act in accordance with their operating regulations or conversion procedures in effect at the time the transaction is processed. Currently, their regulations and procedures provide that the currency conversion rate they use, to determine the transaction amount in U.S. dollar, is either (a) a wholesale market rate, or (b) a government-mandated rate in effect one day prior to the processing date. MasterCard and VISA increase this conversion rate by one percent (1%) and keep this increase as compensation for performing the currency conversion service. We will charge you two percent (2%) of the U.S. dollar amount of the transaction converted from a foreign currency. The currency conversion rate calculated in this manner that is in effect on the processing date may differ from the rate in effect on the transaction date or posting date. Other Charges. You agree we may assess, in addition to the Interest Charge, the Other Charges below which charges will be earned when assessed and are not subject to refund or rebate. The following fees may be added, as applicable, to the Account and treated as a Purchase as indicated on the Insert:

  • Foreign Transactions; Currency Conversion Purchases and cash advances made in foreign currencies will be billed to you in U.S. dollars. The conversion rate in dollars will be a rate selected by the card company from a range of rates available in wholesale currency markets for the applicable central processing date, which rate may vary from the rate the card company itself receives, or the government-mandated rate in effect for the applicable central processing date in each instance. All transactions processed outside of the United States (which may include internet transactions) will be charged a foreign transaction fee in the amount disclosed on your Truth-in-Lending Statement (as amended from time to time).

  • Financial Institution with Only Low-Value Accounts An Estonian Financial Institution satisfying the following requirements:

  • Canadian Currency All monies payable to or from this plan shall be payable in Canada in Canadian currency.

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