Common use of *Non-discretionary Trading Clause in Contracts

*Non-discretionary Trading. (a) Advice, recommendations and market or other information (“Advice”) may be given to the Client by the Broker Member at its discretion and on its own initiative in accordance with the Broker Member's standard terms and conditions as to investment business (the "Terms and Conditions"). (b) The Client retains full responsibility for making all trading decisions with respect to the Client’s account. Unless otherwise agreed in writing, the Broker Member will not owe the Client any duty to advise it on the merits or suitability of any Transaction nor be under any obligation to provide Advice on an on-going basis in relation to any investments of the Client. (c) Any Advice communicated to the Client is incidental to the provision of services by the Broker Member to the Client under this Agreement and does not constitute an offer to sell, or the solicitation of an offer to buy, any futures contracts or options or any commodity underlying any futures contracts or options. (d) The Client acknowledges that any Advice is provided solely to enable the Client to make its own investment decisions and may be different from Advice given to other customers due to individual analysis of fundamental and technical factors by different personnel. Such Advice may not be consistent with any proprietary investments of the Broker Member or its associates, directors, employees or agents. (e) No representation, warranty or guarantee is made or given to the Client as to the accuracy or completeness of any Advice furnished to the Client or as to the tax consequences of the Client’s Transactions. (f) The Broker Member has no discretionary authority or control with respect to purchasing or selling futures contracts or options relating to commodities for the Client, except as provided in Sections 4.1, 4.2, 4.3, 11 and 12.

*Non-discretionary Trading. (a) Advice, recommendations and market or other information (“Advice”) may be given to the Client by the Broker Member at its discretion and on its own initiative in accordance with the Broker Member's standard terms and conditions as to investment business (the "Terms and Conditions"). (b) . The Client retains full responsibility for making all trading decisions with respect to the Client’s account. Unless otherwise agreed in writing, the Broker Member will not owe the Client any duty to advise it on the merits or suitability of any Transaction nor be under any obligation to provide Advice on an on-going basis in relation to any investments of the Client. (c) . Any Advice communicated to the Client is incidental to the provision of services by the Broker Member to the Client under this Agreement and does not constitute an offer to sell, or the solicitation of an offer to buy, any futures contracts or options or any commodity underlying any futures contracts or options. (d) . The Client acknowledges that any Advice is provided solely to enable the Client to make its own investment decisions and may be different from Advice given to other customers due to individual analysis of fundamental and technical factors by different personnel. Such Advice may not be consistent with any proprietary investments of the Broker Member or its associates, directors, employees or agents. (e) . No representation, warranty or guarantee is made or given to the Client as to the accuracy or completeness of any Advice furnished to the Client or as to the tax consequences of the Client’s Transactions. (f) . The Broker Member has no discretionary authority or control with respect to purchasing or selling futures contracts or options relating to commodities for the Client, except as provided in Sections 4.1, 4.2, 4.3, 11 and 12.

*Non-discretionary Trading. (a) Advice, recommendations and market or other information (“Advice”) may be given to the Client by the Broker Member at its discretion and on its own initiative in accordance with the Broker Member's standard terms and conditions as to investment business (the "Terms and Conditions"). (b) The Client retains full responsibility for making all trading decisions with respect to the Client’s account. Unless otherwise agreed in writing, the Broker Member will not owe the Client any duty to advise it on the merits or suitability of any Transaction nor be under any obligation to provide Advice on an on-going basis in relation to any investments of the Client. (c) Any Advice communicated to the Client is incidental to the provision of services by the Broker ________ Client Initials Member to the Client under this Agreement and does not constitute an offer to sell, or the solicitation of an offer to buy, any futures contracts or options or any commodity underlying any futures contracts or options. (d) The Client acknowledges that any Advice is provided solely to enable the Client to make its own investment decisions and may be different from Advice given to other customers due to individual analysis of fundamental and technical factors by different personnel. Such Advice may not be consistent with any proprietary investments of the Broker Member or its associates, directors, employees or agents. (e) No representation, warranty or guarantee is made or given to the Client as to the accuracy or completeness of any Advice furnished to the Client or as to the tax consequences of the Client’s Transactions. (f) The Broker Member has no discretionary authority or control with respect to purchasing or selling futures contracts or options relating to commodities for the Client, except as provided in Sections 4.1, 4.2, 4.3, 11 and 12.

*Non-discretionary Trading. (a) A. Advice, recommendations and market or other information (“Advice”) may be given to the Client by the Broker Member at its discretion and on its own initiative in accordance with the Broker Member's ’s standard terms and conditions as to investment business (the "“Terms and Conditions"”). (b) B. The Client retains full responsibility for making all trading decisions with respect to the Client’s account. Unless otherwise agreed in writing, the Broker Member will not owe the Client any duty to advise it on the merits or suitability of any Transaction nor be under any obligation to provide Advice on an on-going basis in relation to any investments of the Client. (c) C. Any Advice communicated to the Client is incidental to the provision of services by the Broker Member to the Client under this Agreement and does not constitute an offer to sell, or the solicitation of an offer to buy, any futures contracts or options or any commodity underlying any futures contracts or options. (d) D. The Client acknowledges that any Advice is provided solely to enable the Client to make its own investment decisions and may be different from Advice given to other customers due to individual analysis of fundamental and technical factors by different personnel. Such Advice may not be consistent with any proprietary investments of the Broker Member or its associates, directors, employees or agents. (e) E. No representation, warranty or guarantee is made or given to the Client as to the accuracy or completeness of any Advice furnished to the Client or as to the tax consequences of the Client’s Transactions. (f) F. The Broker Member has no discretionary authority or control with respect to purchasing or selling futures contracts or options relating to commodities for the Client, except as provided in Sections 4.1, 4.2, 4.3, 11 and 12.,

*Non-discretionary Trading. (a) Advice, recommendations and market or other information (“Advice”) may be given to the Client by the Broker Member at its discretion and on its own initiative in accordance with the Broker Member's standard terms and conditions as to investment business (the "Terms and Conditions"). (b) The Client retains full responsibility for making all trading decisions with respect to the Client’s account. Unless otherwise agreed in writing, the Broker Member will not owe the Client any duty to advise it on the merits or suitability of any Transaction nor be under any obligation to provide Advice on an on-going basis in relation to any investments of the Client. (c) Any Advice communicated to the Client is incidental to the provision of services by the Broker Member to the Client under this Agreement and does not constitute an offer to sell, or the solicitation of an offer to buy, any futures contracts or options or any commodity underlying any futures contracts or options. (d) The Client acknowledges that any Advice is provided solely to enable the Client to make its own investment decisions and may be different from Advice given to other customers due to individual analysis of fundamental and technical factors by different personnel. Such Advice may not be consistent with any proprietary investments of the Broker Member or its associates, directors, employees or agents. (e) No representation, warranty or guarantee is made or given to the Client as to the accuracy or completeness of any Advice furnished to the Client or as to the tax consequences of the Client’s Transactions. (f) The Broker Member has no discretionary authority or control with respect to purchasing or selling se lling futures contracts or options relating to commodities for the Client, except as provided in Sections 4.1, 4.2, 4.3, 11 and 12.

*Non-discretionary Trading. (a) Advice, recommendations and market or other information (“Advice”) may be given to the Client by the Broker Member at its discretion and on its own initiative in accordance with the Broker Member's standard terms and conditions as to investment business (the "Terms and Conditions"). (b) The Client retains full responsibility for making all trading decisions with respect to the Client’s account. Unless otherwise agreed in writing, the Broker Member will not owe the Client any duty to advise it on the merits or suitability of any Transaction nor be under any obligation to provide Advice on an on-going basis in relation to any investments of the Client.. _____________ (c) Any Advice communicated to the Client is incidental to the provision of services by the Broker Member to the Client under this Agreement and does not constitute an offer to sell, or the solicitation of an offer to buy, any futures contracts or options or any commodity underlying any futures contracts or options. (d) The Client acknowledges that any Advice is provided solely to enable the Client to make its own investment decisions and may be different from Advice given to other customers due to individual analysis of fundamental and technical factors by different personnel. Such Advice may not be consistent with any proprietary investments of the Broker Member or its associates, directors, employees or agents. (e) No representation, warranty or guarantee is made or given to the Client as to the accuracy or completeness of any Advice furnished to the Client or as to the tax consequences of the Client’s Transactions. (f) The Broker Member has no discretionary authority or control with respect to purchasing or selling futures contracts or options relating to commodities for the Client, except as provided in Sections 4.1, 4.2, 4.3, 11 and 12.

*Non-discretionary Trading. (a) Advice, recommendations and market or other information (“Advice”) may be given to the Client by the Broker Member at its discretion and on its own initiative in accordance with the Broker Member's standard terms and conditions as to investment business (the "Terms and Conditions").. X Client Sign X (b) The Client retains full responsibility for making all trading decisions with respect to the Client’s account. Unless otherwise agreed in writing, the Broker Member will not owe the Client any duty to advise it on the merits or suitability of any Transaction nor be under any obligation to provide Advice on an on-going basis in relation to any investments of the Client. (c) Any Advice communicated to the Client is incidental to the provision of services by the Broker Member to the Client under this Agreement and does not constitute an offer to sell, or the solicitation of an offer to buy, any futures contracts or options or any commodity underlying any futures contracts or options. (d) The Client acknowledges that any Advice is provided solely to enable the Client to make its own investment decisions and may be different from Advice given to other customers due to individual analysis of fundamental and technical factors by different personnel. Such Advice may not be consistent with any proprietary investments of the Broker Member or its associates, directors, employees or agents. (e) No representation, warranty or guarantee is made or given to the Client as to the accuracy or completeness of any Advice furnished to the Client or as to the tax consequences of the Client’s Transactions. (f) The Broker Member has no discretionary authority or control with respect to purchasing or selling futures contracts or options relating to commodities for the Client, except as provided in Sections 4.1, 4.2, 4.3, 11 and 12.