Common use of PROVIDING A QUOTE Clause in Contracts

PROVIDING A QUOTE. 13.1 Upon your request we may (at our absolute discretion) provide you with a relevant non- binding quotation and details of charges for each Transaction. Such quote will be either the bid/offer prices in the Underlying Market or our own bid/offer prices and details of which basis will apply may be found in the Contract Specifications or may be obtained from our Website, Platform or our staff on request. We will charge you for opening and closing a Transaction in accordance with the type of account that you choose. For the latest details of our account structures, please visit our Website. 13.2 The rates quoted are relevant at the moment when we provide the quotation to you. Such rates are subject to change. You acknowledge that both our Spreads and Market Spreads can widen significantly in some circumstances, that they may not be the same size as the examples given in the Contract Specifications and that there is no limit on how large they may be. You acknowledge that when you close a Transaction, the Spread may be larger or smaller than the Spread when the Transaction was opened. For Transactions transacted when the Underlying Market is closed or in respect of which there is no Underlying Market, the figures that we quote will reflect what we believe the market price in such Financial Instrument is at that time. You acknowledge that such figures will be set by us at our reasonable discretion. The Spread quoted by us will reflect our view of prevailing market conditions. 13.3 You may request a quote to open a Transaction or to close all or any part of a Transaction at any time during our normal hours of trading for the corresponding Financial Instrument in respect of which you wish to open or close the Transaction. 13.4 If we choose to provide a quote, we may provide a quote either orally by telephone, electronically via our Online Facility or by such other means as we may from time to time notify to you. The quote we provide is not an offer to open or close a Transaction at those levels. You will need to initiate a Transaction to offer to close or open a Transaction and we, acting reasonably, may accept or reject your offer at any time until the Transaction has been executed or we have acknowledged that your offer has been withdrawn. A Transaction will be opened or, as the case may be, closed only when your offer has been received and accepted by us. Our acceptance of an offer to open or close a Transaction, and thus the execution of the Transaction, will be evidenced by our confirmation of its terms to you. 13.5 In any event, we reserve the right to reject your offer at the level quoted if: 13.5.1 the quote has not been obtained from us in accordance with these Terms; 13.5.2 the quote is expressed as being given on an 'indicative only' or similar basis; 13.5.3 you obtain the quote by telephone, it must be given by a person who is a dealer, employed by us; and your offer to open or close the Transaction must be given during the same telephone conversation; 13.5.4 and the dealer giving the quote must not have informed you, before you make the offer to open or close the Transaction and that offer has been confirmed as accepted by us, that the quote is no longer valid; 13.5.5 you obtain the quote electronically via our Online Facility, your offer to open or close the Transaction, and our acceptance of your offer, must be given while the quote is still valid; 13.5.6 the quote is Manifestly Erroneous; 13.5.7 when you offer to open a Transaction, the number of shares, contracts or other units in respect of which the Transaction is to be opened is either smaller than the Minimum Size or larger than the Normal Market Size; 13.5.8 when you offer to close part, but not all, of an open Transaction, both the part of the Transaction that you offer to close and the part that would remain open, if we accepted your offer, are smaller than the Minimum Size; 13.5.9 a Force Majeure event has occurred; 13.5.10 when you offer to open a Transaction, an Event of Default occurred in respect of you, or you have acted in such a way as to trigger an Event of Default; 13.5.11 the telephone or Electronic conversation in which you offer to open or close the Transaction is terminated before we have received and accepted your offer; or 13.5.12 when you offer to open or close any Transaction, the opening of the Transaction results in your exceeding any credit or other limit placed on your dealings. We reserve the right to refuse any offer to open or close a Transaction larger than the Normal Market Size. Our quotation for a Transaction equal to or greater than Normal Market Size is not guaranteed to be within any specific percentage of any Underlying Market or related market quotation and our acceptance of your offer may be subject to special conditions and requirements that we will advise to you at the time we accept your offer. We will inform you of the Normal Market Size for a particular Financial Instrument on request. If, before your offer to open or close a Transaction is accepted by us, our quote moves to your advantage (for example, if the price goes down as you Buy or the price goes up as you Sell) you agree that we may (but are not required) pass such price improvement on to you. Where a Financial Instrument trades on multiple Underlying Markets, one of which is the primary Underlying Market, you agree that we may, but are not required, to base our bid and offer prices on the aggregate bid/offer prices in the Underlying Markets.

PROVIDING A QUOTE. 13.1 7.1 Upon your request we may (at our absolute discretion) provide you with a relevant non- non-binding quotation and details of charges for each Transaction. Such quote will be either the bid/offer prices in the Underlying Market or our own bid/offer prices and details of which basis will apply may be found in the Contract Specifications or may be obtained from our Website, Platform or our staff dealers on request. We will charge you for opening and closing a Transaction in accordance with the type of account that you choose. For the latest details of our account structures, please visit our Website. 13.2 7.2 The rates quoted are relevant at the moment when we provide the quotation to you. Such rates are subject to change. You acknowledge that both our Spreads and Market Spreads Spreads, can widen significantly in some circumstances, that they may not be the same size as the examples given in the Contract Specifications and that there is no limit on how large they may be. You acknowledge that when you close a Transaction, the Spread may be larger or smaller than the Spread when the Transaction was opened. For Transactions transacted when the Underlying Market is closed or in respect of which there is no Underlying Market, the figures that we quote will reflect what we believe the market price in such Financial an Instrument is at that time. You acknowledge that such figures will be set by us at our reasonable discretion. The Spread quoted by us will reflect our view of prevailing market conditions. 13.3 7.3 You may request a quote to open a Transaction or to close all or any part of a Transaction at any time during our normal hours of trading for the corresponding Financial Instrument in respect of which you wish to open or close the Transaction. 13.4 7.4 If we choose to provide a quote, we may provide a quote to your authorised address either orally by telephone, telephone or electronically via our Online Facility or by such other means as we may from time to time notify to you. The quote we provide is not an offer to open or close a Transaction at those levels. You will need to initiate a Transaction to offer to close or open a Transaction and we, acting reasonably, may accept or reject your offer at any time until the Transaction has been executed or we have acknowledged that your offer has been withdrawn. A Transaction will be opened or, as the case may be, closed only when your offer has been received and accepted by us. Our acceptance of an offer to open or close a Transaction, and thus the execution of the Transaction, will be evidenced by our confirmation of its terms to you. 13.5 In any event, we reserve the right to reject your offer at the level quoted if: 13.5.1 the quote has not been obtained from us in accordance with these Terms; 13.5.2 the quote is expressed as being given on an 'indicative only' or similar basis; 13.5.3 you obtain the quote by telephone, it must be given by a person who is a dealer, employed by us; and your offer to open or close the Transaction must be given during the same telephone conversation; 13.5.4 and the dealer giving the quote must not have informed you, before you make the offer to open or close the Transaction and that offer has been confirmed as accepted by us, that the quote is no longer valid; 13.5.5 you obtain the quote electronically via our Online Facility, your offer to open or close the Transaction, and our acceptance of your offer, must be given while the quote is still valid; 13.5.6 the quote is Manifestly Erroneous; 13.5.7 when you offer to open a Transaction, the number of shares, contracts or other units in respect of which the Transaction is to be opened is either smaller than the Minimum Size or larger than the Normal Market Size; 13.5.8 when you offer to close part, but not all, of an open Transaction, both the part of the Transaction that you offer to close and the part that would remain open, if we accepted your offer, are smaller than the Minimum Size; 13.5.9 a Force Majeure event has occurred; 13.5.10 when you offer to open a Transaction, an Event of Default occurred in respect of you, or you have acted in such a way as to trigger an Event of Default; 13.5.11 the telephone or Electronic conversation in which you offer to open or close the Transaction is terminated before we have received and accepted your offer; or 13.5.12 when you offer to open or close any Transaction, the opening of the Transaction results in your exceeding any credit or other limit placed on your dealings. We reserve the right to refuse any offer to open or close a Transaction larger than the Normal Market Size. Our quotation for a Transaction equal to or greater than Normal Market Size is not guaranteed to be within any specific percentage of any Underlying Market or related market quotation and our acceptance of your offer may be subject to special conditions and requirements that we will advise to you at the time we accept your offer. We will inform you of the Normal Market Size for a particular Financial Instrument on request. If, before your offer to open or close a Transaction is accepted by us, our quote moves to your advantage (for example, if the price goes down as you Buy or the price goes up as you Sell) you agree that we may (but are not required) pass such price improvement on to you. Where a Financial Instrument trades on multiple Underlying Markets, one of which is the primary Underlying Market, you agree that we may, but are not required, to base our bid and offer prices on the aggregate bid/offer prices in the Underlying Markets.

PROVIDING A QUOTE. 13.1 7.1 Upon your request we may (at our absolute discretion) provide you with a relevant non- non-binding quotation and details of charges for each Transaction. Such quote will be either the bid/offer prices in the Underlying Market or our own bid/offer prices and details of which basis will apply may be found in the Contract Specifications or may be obtained from our Website, Platform or our staff dealers on request. We will charge you for opening and closing a Transaction in accordance with the type of account that you choose. For the latest details of our account structures, please visit our Website. 13.2 7.2 The rates quoted are relevant at the moment when we provide the quotation to you. Such rates are subject to change. You acknowledge that both our Spreads and Market Spreads Spreads, can widen significantly in some circumstances, that they may not be the same size as the examples given in the Contract Specifications and that there is no limit on how large they may be. You acknowledge that when you close a Transaction, the Spread may be larger or smaller than the Spread when the Transaction was opened. For Transactions transacted when the Underlying Market is closed or in respect of which there is no Underlying Market, the figures that we quote will reflect what we believe the market price in such Financial an Instrument is at that time. You acknowledge that such figures will be set by us at our reasonable discretion. The Spread quoted by us will reflect our view of prevailing market conditions. 13.3 7.3 You may request a quote to open a Transaction or to close all or any part of a Transaction at any time during our normal hours of trading for the corresponding Financial Instrument in respect of which you wish to open or close the Transaction. 13.4 7.4 If we choose to provide a quote, we may provide a quote either orally by telephone, telephone or electronically via our Online Facility or by such other means as we may from time to time notify to you. The quote we provide is not an offer to open or close a Transaction at those levels. You will need to initiate a Transaction to offer to close or open a Transaction and we, acting reasonably, may accept or reject your offer at any time until the Transaction has been executed or we have acknowledged that your offer has been withdrawn. A Transaction will be opened or, as the case may be, closed only when your offer has been received and accepted by us. Our acceptance of an offer to open or close a Transaction, and thus the execution of the Transaction, will be evidenced by our confirmation of its terms to you. 13.5 In any event, we reserve the right to reject your offer at the level quoted if: 13.5.1 the quote has not been obtained from us in accordance with these Terms; 13.5.2 the quote is expressed as being given on an 'indicative only' or similar basis; 13.5.3 you obtain the quote by telephone, it must be given by a person who is a dealer, employed by us; and your offer to open or close the Transaction must be given during the same telephone conversation; 13.5.4 and the dealer giving the quote must not have informed you, before you make the offer to open or close the Transaction and that offer has been confirmed as accepted by us, that the quote is no longer valid; 13.5.5 you obtain the quote electronically via our Online Facility, your offer to open or close the Transaction, and our acceptance of your offer, must be given while the quote is still valid; 13.5.6 the quote is Manifestly Erroneous; 13.5.7 when you offer to open a Transaction, the number of shares, contracts or other units in respect of which the Transaction is to be opened is either smaller than the Minimum Size or larger than the Normal Market Size; 13.5.8 when you offer to close part, but not all, of an open Transaction, both the part of the Transaction that you offer to close and the part that would remain open, if we accepted your offer, are smaller than the Minimum Size; 13.5.9 a Force Majeure event has occurred; 13.5.10 when you offer to open a Transaction, an Event of Default occurred in respect of you, or you have acted in such a way as to trigger an Event of Default; 13.5.11 the telephone or Electronic conversation in which you offer to open or close the Transaction is terminated before we have received and accepted your offer; or 13.5.12 when you offer to open or close any Transaction, the opening of the Transaction results in your exceeding any credit or other limit placed on your dealings. We reserve the right to refuse any offer to open or close a Transaction larger than the Normal Market Size. Our quotation for a Transaction equal to or greater than Normal Market Size is not guaranteed to be within any specific percentage of any Underlying Market or related market quotation and our acceptance of your offer may be subject to special conditions and requirements that we will advise to you at the time we accept your offer. We will inform you of the Normal Market Size for a particular Financial Instrument on request. If, before your offer to open or close a Transaction is accepted by us, our quote moves to your advantage (for example, if the price goes down as you Buy or the price goes up as you Sell) you agree that we may (but are not required) pass such price improvement on to you. Where a Financial Instrument trades on multiple Underlying Markets, one of which is the primary Underlying Market, you agree that we may, but are not required, to base our bid and offer prices on the aggregate bid/offer prices in the Underlying Markets.

PROVIDING A QUOTE. 13.1 ‌ 5.1 Upon your request we may (at our sole and absolute discretion) discretion provide you with a relevant non- quotation, of which shall be non-binding quotation at any laws and details equities and therein shall contain the description of all relevant charges for each TransactionTransaction intended to be provided by us to you (the “Quotation”). Such quote will The Quotation shall thereby be either the bid/offer prices in commensurate to the Underlying Market or our own bid/offer prices as fixed by us (whichever may apply) and the details of which the application of the either basis will apply may be found in the Contract Specifications or may be obtained from our Website, Platform or our staff on requestdealers should there be any request from you. We will You hereby further agree that we shall charge you for opening and closing a Transaction in accordance with the type of account that you chooseof your choice. For the latest details of our the available account structuresstructures provided by us, please kindly visit our Website. 13.2 5.2 The rates as quoted are in the Quotation shall be the relevant at rate as of the moment time when we provide the quotation Quotation is issued to youyou and shall be valid for such time as stipulated in the Quotation. Such For the avoidance of doubts, such rates are shall be subject to changechange from time to time by us provided that we serve you a notice in writing stipulating the changes. You hereby acknowledge that both of the sizes our Spreads and Market Spreads can widen (the “Spread”), may without limit, be increased significantly in some certain circumstances, that they and may not necessarily be the same size as the examples given in as therein provided by the Contract Specifications and that there is no limit on how large they may beSpecifications. You hereby acknowledge that when you close a Transaction, the Spread may be larger or smaller than the Spread when the Transaction was opened. For Transactions transacted when the Underlying Market is closed or in respect of which there is no Underlying Market, the figures that we quote will rate as quoted in the Quotation shall , to our best and reasonable belief, reflect what we believe the market price in such Financial an Instrument is at that timewhich thereupon ought to be. You hereby acknowledge that such figures will rate shall be set by us solely at our reasonable discretion. The Spread quoted by us will shall thereby reflect our view of the prevailing market conditions. 13.3 5.3 You may request for a quote Quotation to open a Transaction or to close all or any part of a Transaction at any time during our normal hours of trading for the corresponding Financial Instrument in respect of which should you wish desire to open or close the Transaction. 13.4 If we choose 5.4 The Quotation may be provided by us in any manner as deem fit and proper by us, including but not limited to provide a quote, we may provide a quote either orally by telephone, electronically oral communication through any tele-communication or electronic communication via our Online Facility or by such other means otherwise, For the avoidance of doubt, the Quotation provided shall not be construed as we may from time to time notify to you. The quote we provide is not an offer to open or close a Transaction at those levelsthe levels as specified in such Quotation. You will need to An offer shall only be formed when you initiate a Transaction to offer to close or open a Transaction and we, acting reasonably, may accept our acceptance to such offer shall not be unreasonable withheld or reject your offer at any time given until the Transaction has been executed or we have acknowledged that your offer has been withdrawnwithdrawal of the said offer. A Transaction will be opened or, as the case may be, or closed only (whichever applicable) when your offer has been duly received and accepted by us. Our acceptance of an offer to open or close a Transaction, and thus the execution of the Transaction, will shall thereby be evidenced by the issuance of our confirmation of its terms in writing to you. 13.5 5.5 In any event, we reserve the right to reject your offer at the level quoted ifquoted, if any of the following factors are not satisfied: 13.5.1 5.5.1 the quote Quotation has not been obtained from us in accordance with these the Terms; 13.5.2 5.5.2 the quote Quotation is not to be expressed as being given on an 'indicative only' or similar basis; 13.5.3 5.5.3 if you obtain the quote Quotation by telephonetele-communication from us, it such Quotation must be given by a person who is a dealer, dealer duly employed by us; us and your offer to open or close the Transaction must be expressly given during the same telephone conversation; 13.5.4 and tele-communication in which you obtained the Quotation from. Such Quotation shall no longer be valid to you if the said dealer giving has informed you that the quote must not have informed you, offer has been confirmed as accepted by us before you make the offer to open or close the Transaction and that offer has been confirmed as accepted yet to be offered by us, that the quote is no longer valid;you. 13.5.5 5.5.4 if you obtain the quote Quotation electronically via our Online Facility, your offer to open or close the Transaction, and our acceptance of your offer, must be given while the quote Quotation is still valid; 13.5.6 5.5.5 the quote is Quotation must not be Manifestly Erroneous; 13.5.7 when you 5.5.6 Upon your offer to open a Transaction, the number of shares, contracts or other units in respect of which the Transaction is to be opened is either must be neither smaller than the Minimum Size or nor larger than the Normal Market Size; 13.5.8 when you 5.5.7 Upon your offer to close part, but not all, part of an open Transaction, Transaction both the part parts of the Transaction that you offer have offered to close and the part that would remain open, if we accepted your offer, are open shall not be smaller than the Minimum Size; 13.5.9 5.5.8 a Force Majeure event has must not have occurred; 13.5.10 when you 5.5.9 Upon your offer to open a Transaction, Transaction an Event of Default must not have occurred in respect of you, or nor must you have acted in such a way as to trigger an Event of Default; 13.5.11 5.5.10 the telephone tele-communication or Electronic conversation electronic communication (whichever applicable) in which you offer to open or close the Transaction is shall not be terminated before we have received and accepted your offer; or 13.5.12 when you 5.5.11 Upon your offer to open or close any Transaction, the opening of the Transaction results must not result in your exceeding of any credit or other limit limit(s) placed on your dealings. . 5.6 We reserve the right to refuse any offer to open or close a Transaction larger than the Normal Market Size. Our quotation You are hereby acknowledged that our Quotation for a Transaction equal to or greater than Normal Market Size is not guaranteed to be within any specific percentage of any Underlying Market or related market quotation and our acceptance of your offer may be subject to special conditions and requirements that of which we will shall thereby advise to you at the time we accept during our acceptance of your offer. We will hereby undertake and warrant to inform you of the Normal Market Size for a particular Financial Instrument on upon your request. . 5.7 If, before your offer to open or close a Transaction is thereby accepted by us, our quote Quotation moves to your advantage (for example, if the price goes down as you Buy buy or the price goes up as you Sellsell) you hereby agree that we may (but are not required) at our discretion, pass such price improvement on to you. . 5.8 Where a Financial an Instrument trades on multiple Underlying Markets, Markets and one of which is the primary Underlying Market, you hereby agree that we may, but are not required, may at our discretion to base our bid and offer prices on the aggregate bid/offer prices in the Underlying Markets.

PROVIDING A QUOTE. 13.1 8.1 Upon your request we may (at our absolute discretion) provide you with a relevant non- non-binding quotation and details of charges for each Transaction. Such quote will be either the bid/offer prices in the Underlying Market or our own bid/bid/ offer prices and details of which basis will apply may be found in the Contract Specifications or may be obtained from our Website, Platform or our staff dealers on request. We will charge you for opening and closing a Transaction in accordance with the type of account that you choose. For the latest details of our account structures, please visit our Website. 13.2 8.2 The rates quoted are relevant at the moment when we provide the quotation to you. Such rates are subject to change. You acknowledge that both our Spreads and Market Spreads Spreads, can widen significantly in some circumstances, that they may not be the same size as the examples given in the Contract Specifications and that there is no limit on how large they may be. You acknowledge that when you close a Transaction, the Spread may be larger or smaller than the Spread when the Transaction was opened. For Transactions transacted when the Underlying Market is closed or in respect of which there is no Underlying Market, the figures that we quote will reflect what we believe the market price in such Financial Instrument a security is at that time. You acknowledge that such figures will be set by us at our reasonable discretion. The Spread quoted by us will reflect our view of prevailing market conditions. 13.3 8.3 You may request a quote to open a Transaction or to close all or any part of a Transaction at any time during our normal hours of trading for the corresponding Financial Instrument security in respect of which you wish to open or close the Transaction. 13.4 8.4 If we choose to provide a quote, we may provide a quote either orally by telephone, telephone or electronically via our Online Facility Platform or by such other means as we may from time to time notify to you. The quote we provide is not an offer to open or close a Transaction at those levels. You will need to initiate a Transaction to offer to close or open a Transaction and we, acting reasonably, may accept or reject your offer at any time until the Transaction has been executed or we have acknowledged that your offer has been withdrawn. A Transaction will be opened or, as the case may be, closed only when your offer has been received and accepted by us. Our acceptance of an offer to open or close a Transaction, and thus therefore the execution of the Transaction, will be evidenced by our confirmation of its terms to you. 13.5 8.5 In any event, we reserve the right to reject your offer at the level quoted quoted, if: 13.5.1 8.5.1 the quote has not been obtained from us in accordance with these Termsthis Agreement; 13.5.2 8.5.2 the quote is expressed as being given on an '‘indicative only' ’ or similar basis; 13.5.3 you obtain 8.5.3 the quote obtained by telephone, it must be telephone is not given by a person who is a dealer, dealer employed by us; and ; 8.5.4 your offer to open or close the Transaction must be is not given during the same telephone conversationconversation in which you obtained the quote; 13.5.4 and the dealer giving the quote must not have informed you, before you make the offer to open or close the Transaction and that offer has been confirmed as accepted by us, that the quote is no longer valid; 13.5.5 8.5.5 you obtain the quote electronically via our Online Facility, Platform and your offer to open or close the Transaction, and our acceptance of your offer, must be is not given while the quote is still valid; 13.5.6 8.5.6 the quote is Manifestly Erroneous; 13.5.7 8.5.7 when you offer to open a Transaction, the number of shares, contracts or other units in respect of which the Transaction is to be opened is either smaller larger than the Minimum Size or larger smaller than the Normal Market Size; 13.5.8 8.5.8 when you offer to close part, part but not all, all of an open Transaction, Transaction both the part of the Transaction that you offer to close and the part that would remain open, open if we accepted your offer, are offer is smaller than the Minimum Size; 13.5.9 8.5.9 a Force Majeure event has occurred; 13.5.10 8.5.10 when you offer to open a Transaction, Transaction and an Event of Default has occurred in respect of you, or you have acted in such a way as to trigger an Event of Default; 13.5.11 8.5.11 if the telephone or Electronic electronic conversation in which you offer to open or close the Transaction is terminated before we have received and accepted your offer; or 13.5.12 8.5.12 if when you offer to open or close any Transaction, the opening of the Transaction results in your exceeding any credit or other limit placed on your dealings. . 8.6 We reserve the right to refuse any offer to open or close a Transaction larger than the Normal Market Size. Our quotation for a Transaction equal to or greater than Normal Market Size is not guaranteed to be within any specific percentage of any Underlying Market or related market quotation and our acceptance of your offer may be subject to special conditions and requirements that we will advise to you at the time we accept your offer. We will inform you of the Normal Market Size for a particular Financial Instrument security on request. . 8.7 If, before your offer to open or close a Transaction is accepted by us, our quote moves to your advantage (for example, if the price goes down as you Buy buy or the price goes up as you Sellsell) you agree that we may (but are do not requiredhave to) pass such price improvement on to you. . 8.8 Where a Financial Instrument security trades on multiple Underlying Markets, one of which is the primary Underlying Market, you agree that we may, may but are not required, required to base our bid and offer prices on the aggregate bid/offer prices in the Underlying Markets.

PROVIDING A QUOTE. 13.1 5.1 Upon your request we may (at our absolute discretion) provide you with a relevant non- binding nonbinding quotation and details of charges for each Transaction. Such quote will be either the bid/offer prices in the Underlying Market or our own bid/offer prices and details of which basis will apply may be found in the Contract Specifications or may be obtained from our Website, Platform or our staff dealers on request. We will charge you for opening and closing a Transaction in accordance with the type of account that you choose. For the latest details of our account structures, please visit our WebsiteourWebsite. 13.2 5.2 The rates quoted are relevant at the moment when we provide the quotation to you. Such rates are subject to change. You acknowledge that both our Spreads and Market Spreads Spreads, can widen significantly in some circumstances, that they may not be the same size as the examples given in the Contract Specifications and that there is no limit on how large they may be. You acknowledge that when you close a Transaction, the Spread may be larger or smaller than the Spread when the Transaction was opened. For Transactions transacted when the Underlying Market is closed or in respect of which there is no Underlying Market, the figures that we quote will reflect what we believe the market price in such Financial an Instrument is at that time. You acknowledge that such figures will be set by us at our reasonable discretion. The Spread quoted by us will reflect our view of prevailing market conditions. 13.3 5.3 You may request a quote to open a Transaction or to close all or any part of a Transaction at any time during our normal hours of trading for the corresponding Financial Instrument in respect of which you wish to open or close the Transaction. 13.4 5.4 If we choose to provide a quote, we may provide a quote either orally by telephone, telephone or electronically via our Online Facility or by such other means as we may from time to time notify to you. The quote we provide is not an offer to open or close a Transaction at those levels. You will need to initiate a Transaction to offer to close or open a Transaction and we, acting reasonably, may accept or reject your offer at any time until the Transaction has been executed or we have acknowledged that your offer has been withdrawn. A Transaction will be opened or, as the case may be, closed only when your offer has been received and accepted by us. Our acceptance of an offer to open or close a Transaction, and thus the execution of the Transaction, will be evidenced by our confirmation of its terms to you. 13.5 5.5 In any event, we reserve the right to reject your offer at the level quoted ifquoted, if any of the following factors are not satisfied: 13.5.1 5.5.1 the quote has not been obtained from us in accordance with these Terms; 13.5.2 5.5.2 the quote is not to be expressed as being given on an 'indicative only' or similar basissimilarbasis; 13.5.3 5.5.3 if you obtain the quote by telephone, it must be given by a person who is a dealer, employed by us; us and your offer to open or close the Transaction must be given during the same telephone conversation; 13.5.4 conversation in which you obtained the quote and the dealer giving the quote must not have informed you, you before you make the offer to open or close the Transaction and that offer has been confirmed as accepted by us, us that the quote is no longer valid; 13.5.5 5.5.4 if you obtain the quote electronically via our Online Facility, your offer to open or close the Transaction, and our acceptance of your offer, must be given while the quote is still valid; 13.5.6 5.5.5 the quote is must not be Manifestly Erroneous; 13.5.7 5.5.6 when you offer to open a Transaction, the number of shares, contracts or other units in respect of which the Transaction is to be opened is either must be neither smaller than the Minimum Size or nor larger than the Normal Market Size; 13.5.8 5.5.7 when you offer to close part, part but not all, all of an open Transaction, Transaction both the part of the Transaction that you offer to close and the part that would remain open, open if we accepted your offer, are offer must not be smaller than the Minimum Size; 13.5.9 5.5.8 a Force Majeure event has must not have occurred; 13.5.10 5.5.9 when you offer to open a Transaction, Transaction an Event of Default must not have occurred in respect of you, or nor must you have acted in such a way as to trigger an Event of DefaultofDefault; 13.5.11 5.5.10 the telephone or Electronic conversation in which you offer to open or close the Transaction is must not be terminated before we have received and accepted your offer; or 13.5.12 5.5.11 when you offer to open or close any Transaction, the opening of the Transaction results must not result in your exceeding any credit or other limit placed on your dealings. . 5.6 We reserve the right to refuse any offer to open or close a Transaction larger than the Normal Market Size. Our quotation for a Transaction equal to or greater than Normal Market Size is not guaranteed to be within any specific percentage of any Underlying Market or related market quotation and our acceptance of your offer may be subject to special conditions and requirements that we will advise to you at the time we accept your offer. We will inform you of the Normal Market Size for a particular Financial Instrument on request. . 5.7 If, before your offer to open or close a Transaction is accepted by us, our quote moves to your advantage (for example, if the price goes down as you Buy buy or the price goes up as you Sellsell) you agree that we may (but are do not requiredhave to) pass such price improvement on to you. . 5.8 Where a Financial an Instrument trades on multiple Underlying Markets, one of which is the primary Underlying Market, you agree that we may, may but are not required, required to base our bid and offer prices on the aggregate bid/offer prices in the Underlying Markets.

PROVIDING A QUOTE. 13.1 5.1 Upon your request we may (at our absolute discretion) provide you with a relevant non- binding nonbinding quotation and details of charges for each Transaction. Such quote will be either the bid/offer prices in the Underlying Market or our own bid/offer prices and details of which basis will apply may be found in the Contract Specifications or may be obtained from our Website, Platform or our staff dealers on request. We will charge you for opening and closing a Transaction in accordance with the type of account that you choose. For the latest details of our account structures, please visit our Website. 13.2 5.2 The rates quoted are relevant at the moment when we provide the quotation to you. Such rates are subject to change. You acknowledge that both our Spreads and Market Spreads Spreads, can widen significantly in some circumstances, that they may not be the same size as the examples given in the Contract Specifications and that there is no limit on how large they may be. You acknowledge that when you close a Transaction, the Spread may be larger or smaller than the Spread when the Transaction was opened. For Transactions transacted when the Underlying Market is closed or in respect of which there is no Underlying Market, the figures that we quote will reflect what we believe the market price in such Financial an Instrument is at that time. You acknowledge that such figures will be set by us at our reasonable discretion. The Spread quoted by us will reflect our view of prevailing market conditions. 13.3 5.3 You may request a quote to open a Transaction or to close all or any part of a Transaction at any time during our normal hours of trading for the corresponding Financial Instrument in respect of which you wish to open or close the Transaction. 13.4 5.4 If we choose to provide a quote, we may provide a quote either orally by telephone, telephone or electronically via our Online Facility or by such other means as we may from time to time notify to you. The quote we provide is not an offer to open or close a Transaction at those levels. You will need to initiate a Transaction to offer to close or open a Transaction and we, acting reasonably, may accept or reject your offer at any time until the Transaction has been executed or we have acknowledged that your offer has been withdrawn. A Transaction will be opened or, as the case may be, closed only when your offer has been received and accepted by us. Our acceptance of an offer to open or close a Transaction, and thus the execution of the Transaction, will be evidenced by our confirmation of its terms to you. 13.5 5.5 In any event, we reserve the right to reject your offer at the level quoted ifquoted, if any of the following factors are not satisfied: 13.5.1 5.5.1 the quote has not been obtained from us in accordance with these Terms; 13.5.2 5.5.2 the quote is not to be expressed as being given on an 'indicative only' or similar basis; 13.5.3 5.5.3 if you obtain the quote by telephone, it must be given by a person who is a dealer, employed by us; us and your offer to open or close the Transaction must be given during the same telephone conversation; 13.5.4 conversation in which you obtained the quote and the dealer giving the quote must not have informed you, you before you make the offer to open or close the Transaction and that offer has been confirmed as accepted by us, us that the quote is no longer valid; 13.5.5 5.5.4 if you obtain the quote electronically via our Online Facility, your offer to open or close the Transaction, and our acceptance of your offer, must be given while the quote is still valid; 13.5.6 5.5.5 the quote is must not be Manifestly Erroneous; 13.5.7 5.5.6 when you offer to open a Transaction, the number of shares, contracts or other units in respect of which the Transaction is to be opened is either must be neither smaller than the Minimum Size or nor larger than the Normal Market Size; 13.5.8 5.5.7 when you offer to close part, part but not all, all of an open Transaction, Transaction both the part of the Transaction that you offer to close and the part that would remain open, open if we accepted your offer, are offer must not be smaller than the Minimum Size; 13.5.9 5.5.8 a Force Majeure event has must not have occurred; 13.5.10 5.5.9 when you offer to open a Transaction, Transaction an Event of Default must not have occurred in respect of you, or nor must you have acted in such a way as to trigger an Event of Default; 13.5.11 5.5.10 the telephone or Electronic conversation in which you offer to open or close the Transaction is must not be terminated before we have received and accepted your offer; or 13.5.12 5.5.11 when you offer to open or close any Transaction, the opening of the Transaction results must not result in your exceeding any credit or other limit placed on your dealings. . 5.6 We reserve the right to refuse any offer to open or close a Transaction larger than the Normal Market Size. Our quotation for a Transaction equal to or greater than Normal Market Size is not guaranteed to be within any specific percentage of any Underlying Market or related market quotation and our acceptance of your offer may be subject to special conditions and requirements that we will advise to you at the time we accept your offer. We will inform you of the Normal Market Size for a particular Financial Instrument on request. . 5.7 If, before your offer to open or close a Transaction is accepted by us, our quote moves to your advantage (for example, if the price goes down as you Buy buy or the price goes up as you Sellsell) you agree that we may (but are do not requiredhave to) pass such price improvement on to you. . 5.8 Where a Financial an Instrument trades on multiple Underlying Markets, one of which is the primary Underlying Market, you agree that we may, may but are not required, required to base our bid and offer prices on the aggregate bid/offer prices in the Underlying Markets.

PROVIDING A QUOTE. 13.1 ‌ 8.1 Upon your request we may (at our absolute discretion) provide you with a relevant non- non-binding quotation and details of charges for each Transaction. Such quote will be either the bid/offer prices in the Underlying Market or our own bid/bid/ offer prices and details of which basis will apply may be found in the Contract Specifications or may be obtained from our Website, Platform or our staff dealers on request. We will charge you for opening and closing a Transaction in accordance with the type of account that you choose. For the latest details of our account structures, please visit our Website. 13.2 8.2 The rates quoted are relevant at the moment when we provide the quotation to you. Such rates are subject to change. You acknowledge that both our Spreads and Market Spreads Spreads, can widen significantly in some circumstances, that they may not be the same size as the examples given in the Contract Specifications and that there is no limit on how large they may be. You acknowledge that when you close a Transaction, the Spread may be larger or smaller than the Spread when the Transaction was opened. For Transactions transacted when the Underlying Market is closed or in respect of which there is no Underlying Market, the figures that we quote will reflect what we believe the market price in such Financial Instrument a security is at that time. You acknowledge that such figures will be set by us at our reasonable discretion. The Spread quoted by us will reflect our view of prevailing market conditions. 13.3 8.3 You may request a quote to open a Transaction or to close all or any part of a Transaction at any time during our normal hours of trading for the corresponding Financial Instrument security in respect of which you wish to open or close the Transaction. 13.4 8.4 If we choose to provide a quote, we may provide a quote either orally by telephone, telephone or electronically via our Online Facility Platform or by such other means as we may from time to time notify to you. The quote we provide is not an offer to open or close a Transaction at those levels. You will need to initiate a Transaction to offer to close or open a Transaction and we, acting reasonably, may accept or reject your offer at any time until the Transaction has been executed or we have acknowledged that your offer has been withdrawn. A Transaction will be opened or, as the case may be, closed only when your offer has been received and accepted by us. Our acceptance of an offer to open or close a Transaction, and thus therefore the execution of the Transaction, will be evidenced by our confirmation of its terms to you. 13.5 8.5 In any event, we reserve the right to reject your offer at the level quoted quoted, if: 13.5.1 8.5.1 the quote has not been obtained from us in accordance with these Termsthis Agreement; 13.5.2 8.5.2 the quote is expressed as being given on an '‘indicative only' ’ or similar basis; 13.5.3 you obtain 8.5.3 the quote obtained by telephone, it must be telephone is not given by a person who is a dealer, dealer employed by us; and ; 8.5.4 your offer to open or close the Transaction must be is not given during the same telephone conversationconversation in which you obtained the quote; 13.5.4 and the dealer giving the quote must not have informed you, before you make the offer to open or close the Transaction and that offer has been confirmed as accepted by us, that the quote is no longer valid; 13.5.5 8.5.5 you obtain the quote electronically via our Online Facility, Platform and your offer to open or close the Transaction, and our acceptance of your offer, must be is not given while the quote is still valid; 13.5.6 8.5.6 the quote is Manifestly Erroneous; 13.5.7 8.5.7 when you offer to open a Transaction, the number of shares, contracts or other units in respect of which the Transaction is to be opened is either smaller larger than the Minimum Size or larger smaller than the Normal Market Size; 13.5.8 8.5.8 when you offer to close part, part but not all, all of an open Transaction, Transaction both the part of the Transaction that you offer to close and the part that would remain open, open if we accepted your offer, are offer is smaller than the Minimum Size; 13.5.9 8.5.9 a Force Majeure event has occurred; 13.5.10 8.5.10 when you offer to open a Transaction, Transaction and an Event of Default has occurred in respect of you, or you have acted in such a way as to trigger an Event of Default; 13.5.11 8.5.11 if the telephone or Electronic electronic conversation in which you offer to open or close the Transaction is terminated before we have received and accepted your offer; or 13.5.12 8.5.12 if when you offer to open or close any Transaction, the opening of the Transaction results in your exceeding any credit or other limit placed on your dealings. . 8.6 We reserve the right to refuse any offer to open or close a Transaction larger than the Normal Market Size. Our quotation for a Transaction equal to or greater than Normal Market Size is not guaranteed to be within any specific percentage of any Underlying Market or related market quotation and our acceptance of your offer may be subject to special conditions and requirements that we will advise to you at the time we accept your offer. We will inform you of the Normal Market Size for a particular Financial Instrument security on request. . 8.7 If, before your offer to open or close a Transaction is accepted by us, our quote moves to your advantage (for example, if the price goes down as you Buy buy or the price goes up as you Sellsell) you agree that we may (but are do not requiredhave to) pass such price improvement on to you. . 8.8 Where a Financial Instrument security trades on multiple Underlying Markets, one of which is the primary Underlying Market, you agree that we may, may but are not required, required to base our bid and offer prices on the aggregate bid/offer prices in the Underlying Markets.

PROVIDING A QUOTE. 13.1 (1) Upon your request request, in accordance with Terms 4(2) and 4(3), we may (at our absolute discretion) provide you with will quote a relevant non- binding quotation higher and details of charges lower figure for each TransactionTransaction (“our bid and offer prices”). Such quote Subject to Term 4(8) these figures will be either the bid/offer prices in the Underlying Market (“Commission Transaction”) or our own bid/offer prices (“Spread Transaction”) and details of which basis will apply may be found in the Contract Specifications Details or may be obtained from our Website, Platform or our staff dealers on request. We will charge you for opening and closing a Transaction as follows: (a) For Commission Transactions, we will charge you a commission in accordance with Terms 5(5) and 7(12) (“Commission”); and (b) For Spread Transactions, the type of account that you choose. For difference between our bid and offer price will comprise the latest details of Market Spread (where there is an Underlying Market) and our account structures, please visit Spread (being our Website. 13.2 The rates quoted are relevant at the moment when we provide the quotation charge to you. Such rates are subject ); and, unless we notify you in writing to changethe contrary, you will not be charged any additional Commission. You acknowledge that both our Spreads and Market Spreads Spreads, can widen significantly in some circumstances, that they may not be the same size as the examples given in the Contract Specifications Details and that there is no limit on how large they may be. You acknowledge that when you close a Transaction, the Spread may be larger or smaller than the Spread when the Transaction was opened. For Transactions transacted when the Underlying Market is closed or in respect of which there is no Underlying Market, the figures that we quote will reflect what we believe the market price in such Financial an Instrument is at that time. You acknowledge that such figures will be set by us at our reasonable discretion. The Spread quoted by us will reflect our view of prevailing market conditions. 13.3 (2) You may request a quote to open a Transaction or to close all or any part of a Transaction at any time during our normal hours of trading for the corresponding Financial Instrument in respect of which you wish to open or close the Transaction. Outside those hours we will be under no obligation to but may, at our absolute discretion, provide a quote and accept and act on your offer to open or close a Transaction. We may notify you of certain Instruments in respect of which we will not quote, restrictions on the amount for which we will quote, or other conditions that may apply to our quote. 13.4 (3) If we choose to provide a quote, we may provide a such quote either orally by telephone, telephone or electronically via our Online Facility Electronic Trading Services or by such other means as we may from time to time notify to you. The quote we provide is Our quoting of a higher and lower figure for each Instrument (whether by telephone, Electronic Trading Service or otherwise) does not constitute an offer to open or close a Transaction at those levels. You A Transaction will need be initiated by you offering to initiate open or close a Transaction to offer to close or open in respect of a Transaction and wespecified Instrument at the level quoted by us. We may, acting reasonably, may accept or reject your offer at any time until the Transaction has been executed or we have acknowledged that your offer has been withdrawn. A Transaction will be opened or, as the case may be, closed only when your offer has been received and accepted by us. Our acceptance of an offer to open or close a Transaction, and thus the execution of the Transactiontransaction, will be evidenced by our confirmation of its terms to you. 13.5 In (4) If we become aware that any eventof the factors set out in Term 4(5) are not satisfied at the time you offer to open or close a Transaction, we reserve the right to reject your offer at the level quoted if: 13.5.1 the quote quoted. If we have, nevertheless, already opened or closed a Transaction prior to becoming aware that a factor set out in Term 4(5) has not been met we may, at our discretion, and acting reasonably in good faith, either treat such a Transaction as void from the outset or close it at our then prevailing price. However, we may allow you to open or, as the case may be, close the Transaction in which case you will be bound by the opening or closure of such Transaction, notwithstanding that the factors in Term 4(5) were not satisfied. (5) The factors referred to in Term 4(4) include, but are not limited to, the following: (a) the quote must be obtained from us as set out in accordance with these TermsTerm 4(3); 13.5.2 (b) the quote is must not be expressed as being given on an '“indicative only' ” or similar basis; 13.5.3 (c) if you obtain the quote by telephone, it must be given by a person who is a dealer, dealer employed by us; us and your offer to open or close the Transaction must be given during the same telephone conversation; 13.5.4 conversation in which you obtained the quote and the dealer giving the quote must not have informed you, you before you make the offer to open or close the Transaction and that offer has been confirmed as accepted by us, us that the quote is no longer valid; 13.5.5 (d) if you obtain the quote electronically via our Online Facility, Electronic Trading Services your offer to open or close the Transaction, Transaction and our acceptance of your offer, offer must be given while the quote is still valid; 13.5.6 (e) the quote is must not be Manifestly Erroneous; 13.5.7 (f) when you offer to open a Transaction, the number of shares, contracts or other units in respect of which the Transaction is to be opened is either must be neither smaller than the Minimum Size or nor larger than the Normal Market Size; 13.5.8 (g) when you offer to close part, part but not all, all of an open Transaction, Transaction both the part of the Transaction that you offer to close and the part that would remain open, open if we accepted your offer, are offer must not be smaller than the Minimum Size; 13.5.9 (h) a Force Majeure event has must not have occurred; 13.5.10 (i) when you offer to open a Transaction, Transaction an Event of Default must not have occurred in respect of you, or nor must you have acted in such a way as to trigger an Event of Default; 13.5.11 (j) the telephone telephone, or Electronic conversation in which you offer to open or close the Transaction is must not be terminated before we have received and accepted your offer; or; 13.5.12 (k) when you offer to open or close any Transaction, the opening of the Transaction results must not result in your exceeding any credit or other limit placed on your dealings. . (6) We reserve the right to refuse any offer to open or close a Transaction larger than the Normal Market Size. Our quotation for a Transaction equal to or greater than Normal Market Size is not guaranteed to be within any specific percentage of any Underlying Market or related market quotation and our acceptance of your offer may be subject to special conditions and requirements that we will advise to you at the time that we accept your offer. We will inform you of the Normal Market Size for a particular Financial Instrument on request. . (7) If, before your offer to open or close a Transaction is accepted by us, our quote moves to your advantage (for example, if the price goes down as you Buy buy or the price goes up as you Sellsell) you agree that we may (but are do not requiredhave to) pass such price improvement on to you. The effect of such action being that the level at which you offer to open or close a Transaction will, upon acceptance by us, be altered to the more favourable price. You acknowledge that it is in your best interests for us to alter the level of your offer in the manner contemplated in this Term and you agree that any offer altered in accordance with this Term, once accepted by us, results in a fully binding agreement between us. It is at our complete discretion as to when we will pass on a price improvement to you, but you should note that we will generally only pass on a price improvement when the market you are trading is volatile. You should also note that we will only pass on a price improvement within allowable limits, and we reserve our right set out in Term 4(3) to reject any offer by you to open or close a Transaction. For the avoidance of doubt, this Term does not permit us to alter your offer price if to do so would result in your opening or closing (as the case may be) a Transaction at a less favourable price for you than your offer. (8) Where a Financial an Instrument trades on multiple Underlying Markets, one of which is the primary Underlying Market, you agree that we may, may but are not required, required to base our bid and offer prices on the aggregate bid/offer prices in the Underlying Markets.

PROVIDING A QUOTE. 13.1 7.1 Upon your request we may (at our absolute discretion) provide you with a relevant non- non-binding quotation and details of charges for each Transaction. Such quote will be either the bid/offer prices in the Underlying Market or our own bid/offer prices and details of which basis will apply may be found in the Contract Specifications or may be obtained from our Website, Platform or our staff dealers on request. We will charge you for opening and closing a Transaction in accordance with the type of account that you choose. For the latest details of our account structures, please visit our Website. 13.2 7.2 The rates quoted are relevant at the moment when we provide the quotation to you. Such rates are subject to change. You acknowledge that both our Spreads and Market Spreads Spreads, can widen significantly in some circumstances, that they may not be the same size as the examples given in the Contract Specifications and that there is no limit on how large they may be. You acknowledge that when you close a Transaction, the Spread may be larger or smaller than the Spread when the Transaction was opened. For Transactions transacted when the Underlying Market is closed or in respect of which there is no Underlying Market, the figures that we quote will reflect what we believe the market price in such Financial an Instrument is at that time. You acknowledge that such figures will be set by us at our reasonable discretion. The Spread quoted by us will reflect our view of prevailing market conditions. 13.3 7.3 You may request a quote to open a Transaction or to close all or any part of a Transaction at any time during our normal hours of trading for the corresponding Financial Instrument in respect of which you wish to open or close the Transaction. 13.4 7.4 If we choose to provide a quote, we may provide a quote either orally by telephone, telephone or electronically via our Online Facility or by such other means as we may from time to time notify to you. The quote we provide is not an offer to open or close a Transaction at those levels. You will need to initiate a Transaction to offer to close or open a Transaction and we, acting reasonably, may accept or reject your offer at any time until the Transaction has been executed or we have acknowledged that your offer has been withdrawn. A Transaction will be opened or, as the case may be, closed only when your offer has been received and accepted by us. Our acceptance of an offer to open or close a Transaction, and thus the execution of the Transaction, will be evidenced by our confirmation of its terms to you. 13.5 7.5 In any event, we reserve the right to reject your offer at the level quoted ifquoted, if any of the following factors are not satisfied: 13.5.1 7.5.1 the quote has not been obtained from us in accordance with these Terms; 13.5.2 7.5.2 the quote is not to be expressed as being given on an 'indicative only' or similar basis; 13.5.3 7.5.3 if you obtain the quote by telephone, it must be given by a person who is a dealer, employed by us; us and your offer to open or close the Transaction must be given during the same telephone conversation; 13.5.4 conversation in which you obtained the quote and the dealer giving the quote must not have informed you, you before you make the offer to open or close the Transaction and that offer has been confirmed as accepted by us, us that the quote is no longer valid; 13.5.5 7.5.4 if you obtain the quote electronically via our Online Facility, your offer to open or close the Transaction, and our acceptance of your offer, must be given while the quote is still valid; 13.5.6 7.5.5 the quote is must not be Manifestly Erroneous; 13.5.7 7.5.6 when you offer to open a Transaction, the number of shares, contracts or other units in respect of which the Transaction is to be opened is either must be neither smaller than the Minimum Size or nor larger than the Normal Market Size; 13.5.8 7.5.7 when you offer to close part, part but not all, all of an open Transaction, Transaction both the part of the Transaction that you offer to close and the part that would remain open, open if we accepted your offer, are offer must not be smaller than the Minimum Size; 13.5.9 7.5.8 a Force Majeure event has must not have occurred; 13.5.10 7.5.9 when you offer to open a Transaction, Transaction an Event of Default must not have occurred in respect of you, or nor must you have acted in such a way as to trigger an Event of Default; 13.5.11 7.5.10 the telephone or Electronic conversation in which you offer to open or close the Transaction is must not be terminated before we have received and accepted your offer; or 13.5.12 7.5.11 when you offer to open or close any Transaction, the opening of the Transaction results must not result in your exceeding any credit or other limit placed on your dealings. . 7.6 We reserve the right to refuse any offer to open or close a Transaction larger than the Normal Market Size. Our quotation for a Transaction equal to or greater than Normal Market Size is not guaranteed to be within any specific percentage of any Underlying Market or related market quotation and our acceptance of your offer may be subject to special conditions and requirements that we will advise to you at the time we accept your offer. We will inform you of the Normal Market Size for a particular Financial Instrument on request. . 7.7 If, before your offer to open or close a Transaction is accepted by us, our quote moves to your advantage (for example, if the price goes down as you Buy buy or the price goes up as you Sellsell) you agree that we may (but are do not requiredhave to) pass such price improvement on to you. . 7.8 Where a Financial an Instrument trades on multiple Underlying Markets, one of which is the primary Underlying Market, you agree that we may, may but are not required, required to base our bid and offer prices on the aggregate bid/offer prices in the Underlying Markets.

PROVIDING A QUOTE. 13.1 5.1 Upon your request we may (at our absolute discretion) provide you with a relevant non- binding nonbinding quotation and details of charges for each Transaction. Such quote will be either the bid/offer prices in the Underlying Market or our own bid/offer prices and details of which basis will apply may be found in the Contract Specifications or may be obtained from our Website, Platform or our staff dealers on request. We will charge you for opening and closing a Transaction in accordance with the type of account that you choose. For the latest details of our account structures, please visit our Website. 13.2 5.2 The rates quoted are relevant at the moment when we provide the quotation to you. Such rates are subject to change. You acknowledge that both our Spreads and Market Spreads Spreads, can widen significantly in some circumstances, that they may not be the same size as the examples given in the Contract Specifications and that there is no limit on how large they may be. You acknowledge that when you close a Transaction, the Spread may be larger or smaller than the Spread when the Transaction was opened. For Transactions transacted when the Underlying Market is closed or in respect of which there is no Underlying Market, the figures that we quote will reflect what we believe the market price in such Financial an Instrument is at that time. You acknowledge that such figures will be set by us at our reasonable discretion. The Spread quoted by us will reflect our view of prevailing market conditions. 13.3 5.3 You may request a quote to open a Transaction or to close all or any part of a Transaction at any time during our normal hours of trading for the corresponding Financial Instrument in respect of which you wish to open or close the Transaction. 13.4 5.4 If we choose to provide a quote, we may provide a quote either orally by telephone, telephone or electronically via our Online Facility or by such other means as we may from time to time notify to you. The quote we provide is not an offer to open or close a Transaction at those levels. You will need to initiate a Transaction to offer to close or open a Transaction and we, acting reasonably, may accept or reject your offer at any time until the Transaction has been executed or we have acknowledged that your offer has been withdrawn. A Transaction will be opened or, as the case may be, closed only when your offer has been received and accepted by us. Our acceptance of an offer to open or close a Transaction, and thus the execution of the Transaction, will be evidenced by our confirmation of its terms to you. 13.5 5.5 In any event, we reserve the right to reject your offer at the level quoted ifquoted, if any of the following factors are not satisfied: 13.5.1 5.5.1 the quote has not been obtained from us in accordance with these Terms; 13.5.2 5.5.2 the quote is not to be expressed as being given on an 'indicative only' or similar basis; 13.5.3 5.5.3 if you obtain the quote by telephone, it must be given by a person who is a dealer, employed by us; us and your offer to open or close the Transaction must be given during the same telephone conversation; 13.5.4 conversation in which you obtained the quote and the dealer giving the quote must not have informed you, you before you make the offer to open or close the Transaction and that offer has been confirmed as accepted by us, us that the quote is no longer valid; 13.5.5 5.5.4 if you obtain the quote electronically via our Online Facility, your offer to open or close the Transaction, and our acceptance of your offer, must be given while the quote is still valid; 13.5.6 5.5.5 the quote is must not be Manifestly Erroneous; 13.5.7 5.5.6 when you offer to open a Transaction, the number of shares, contracts or other units in respect of which the Transaction is to be opened is either must be neither smaller than the Minimum Size or nor larger than the Normal Market Size; 13.5.8 5.5.7 when you offer to close part, part but not all, all of an open Transaction, Transaction both the part of the Transaction that you offer to close and the part that would remain open, open if we accepted your offer, are offer must not be smaller than the Minimum Size; 13.5.9 5.5.8 a Force Majeure event has must not have occurred; 13.5.10 5.5.9 when you offer to open a Transaction, Transaction an Event of Default must not have occurred in respect of you, or nor must you have acted in such a way as to trigger an Event of Default; 13.5.11 5.5.10 the telephone or Electronic conversation in which you offer to open or close the Transaction is must not be terminated before we have received and accepted your offer; or 13.5.12 when 5.5.11 When you offer to open or close any Transaction, the opening of the Transaction results must not result in your exceeding any credit or other limit placed on your dealings. . 5.6 We reserve the right to refuse any offer to open or close a Transaction larger than the Normal Market Size. Our quotation for a Transaction equal to or greater than Normal Market Size is not guaranteed to be within any specific percentage of any Underlying Market or related market quotation and our acceptance of your offer may be subject to special conditions and requirements that we will advise to you at the time we accept your offer. We will inform you of the Normal Market Size for a particular Financial Instrument on request. . 5.7 If, before your offer to open or close a Transaction is accepted by us, our quote moves to your advantage (for example, if the price goes down as you Buy buy or the price goes up as you Sellsell) you agree that we may (but are do not requiredhave to) pass such price improvement on to you. . 5.8 Where a Financial an Instrument trades on multiple Underlying Markets, one of which is the primary Underlying Market, you agree that we may, may but are not required, required to base our bid and offer prices on the aggregate bid/offer prices in the Underlying Markets.