OPENING A TRANSACTION. 9.1. The particular terms of each Transaction are agreed between you and us before entering into a Transaction.
9.2. Before you enter into a Transaction, you are required to have sufficient Account Value to satisfy the Initial Margin requirements for the relevant number of contracts. The payments you make to us are either held as Margin or withdrawn to pay the amounts for Real- ized/Unrealized Losses or any fees and charges, which you may owe.
9.3. You will open a Transaction by “buying” or “selling”. In this Agreement, a Transaction that is opened by “buying” is referred to as a “Buy Transaction” and may also, in our dealings with you, be referred to as “long” or “long position”. A Transaction that is opened by “sell- ing” is referred to as a “Sell Transaction” and may also, in our dealings with you, be referred to as “short” or “short position”.
9.4. When you open a Buy Transaction, the Opening Level will be the higher price quoted by us for the Transaction and when you open a Sell Transaction, the Opening Level will be the lower price quoted by us for the Transaction.
9.5. A Transaction must always be made for a specified number of the Underlying Instrument.
9.6. Subject to any other provision in this Agreement, each Transaction opened by you will be binding on you notwithstanding that by opening the Transaction you may have exceeded any credit or other limit applicable to you or in respect of your dealings with us.
OPENING A TRANSACTION. 15.1 You will open a Transaction by 'Buying' or 'Selling'. In these Terms a Transaction that is opened by:
15.1.1 ‘Buying' is referred to as a 'Buy' and may also, in our dealings with you, be referred to as 'long' or 'long position'; and
15.1.2 Selling' is referred to as a 'Sell' and may also, in our dealings with you, be referred to as 'short' or 'short position'.
15.2 A Transaction must always be made for a specified number of shares, contracts or other units that constitute the underlying Financial Instrument.
15.3 Each Transaction opened by you will be binding on you notwithstanding that by opening the Transaction you may have exceeded any credit or other limit applicable to you or in respect of your dealings with us.
15.4 When you open and when you close a Transaction, you may be required to pay us a commission (“Commission”) that is calculated as a percentage of the value of the opening or closing Transaction (as applicable) or as an amount per equivalent Financial Instrument or Instruments on the Underlying Market or on any other basis agreed between ourselves in writing. Our commission terms will be notified in writing to you and will be available on our Website or through our Online Facility, however, in the event that we do not notify you of the commission terms, we will charge the standard commission rate as published on our Website or, if no rate is published, 0.01% of the value of the opening or closing Transaction (as applicable).
15.5 Unless we agree otherwise, all sums payable by you pursuant to these Terms upon opening a Transaction are due and must be paid upon the opening level of your Transaction being determined by us.
OPENING A TRANSACTION. (1) You will open a Transaction by ‘buying’ or ‘selling’. In this Agreement a Transaction that is opened by ’buying’ is referred to as a “Buy” and may also, in our dealings with you, be referred to as ‘long’ or ‘long position’; a Transaction that is opened by ‘selling’ is referred to as a “Sell” and may also, in our dealings with you, be referred to as ‘short’ or ‘short position’.
(2) Subject to Term 3(11), when you open a Buy, the Opening Level will be the higher figure quoted by us for the Transaction and when you open a Sell, the Opening Level will be the lower figure quoted by us for the Transaction. This will not be the case when:
(a) your opening level is improved in accordance with Term 3(11), where your opening level will be the more favourable price; and
(b) a Transaction is initiated pursuant to an Order, where your opening level will be in accordance with the parameters set out in that Order and the terms of that Order.
(3) Unless we agree otherwise, all sums payable by you pursuant to Term 8(2) upon opening are due immediately on entering into the Transaction and must be paid in accordance with Term 16 upon the Opening Level of your Transaction being determined by us.
OPENING A TRANSACTION. You will open a Transaction by ‘buying’ or ‘selling’. In this Agreement a Transaction that is opened by ‘buying’ is referred to as a ‘Buy’ and may also, in our dealings with you, be referred to as ‘long’" or ‘long position’; a Transaction that is opened by ‘selling’ is referred to as a ‘Sell’ and may also, in our dealings with you, be referred to as ‘short’ or ‘short position’. When you open a Buy, the Opening Level will be the higher figure quoted by us for the Transaction (ASK price) and when you open a Sell, the Opening Level will be the lower figure quoted by us for the Transaction (BID price). A Transaction must always be made for a specified number of lots, contracts or other units that constitute the underlying Instrument. Each Transaction opened by you will be binding on you notwithstanding that by opening the Transaction you may have exceeded any credit or other limit applicable to you or in respect of your dealings with us.
OPENING A TRANSACTION. 1. You may request on any given business day, via telephone or otherwise, us to quote a price at which we may be prepared to enter into a financial product transaction. You acknowledge that a price quotation pursuant to this request does not constitute an offer to enter into a new or close an existing financial product.
2. Upon receiving the quote from us, you may via telephone or otherwise offer to enter into a financial product transaction with us at the price quoted by us.
3. We are in no way obliged to accept your offer to enter into a financial product transaction and, without limitation, are not obliged to accept your offer to enter into a financial product transaction, if you have exceeded or would exceed a predetermined limit imposed on you under this Client Agreement; or until we have received from you the initial margin where required, in the form of ‘cleared funds’. We will promptly advise you should we decide not to accept your offer to enter into a financial product transaction.
4. The initial margin where required to enter into a financial product transaction, if not already received from you, will be payable to us upon acceptance by us of your offer to enter into the financial product transaction.
5. Should we accept your offer to enter into a financial product transaction, we will issue to you an electronic confirmation shortly after the financial product transaction has been entered into. This confirmation will be in the form of a deal confirmation. Failure by us to issue a deal confirmation will not prejudice or affect the relevant financial product transaction. We will not bear any liability whatsoever resulting from the failure to issue a deal confirmation.
6. You agree to examine the terms of each deal confirmation immediately upon receipt, and further agree that the contents of the deal confirmation, in the absence of manifest error, will be conclusive evidence of the executed deal, unless within 48 hours of issue of a deal confirmation you notify us of any disputed detail in the deal confirmation received by you. Upon receipt of written notice within the 48-hour period of the disputed detail, we will investigate the dispute and with your co-operation, will endeavour to resolve the dispute in good faith. Notwithstanding any such dispute, you will continue to satisfy any obligation to pay margin calls made by us in respect of the transaction as if the deal confirmation was correct and its details were not the subject of dispute.
7. In ...
