Common use of REFUSAL TO EXECUTE ORDERS Clause in Contracts

REFUSAL TO EXECUTE ORDERS. 7.1 The Customer acknowledges that the Company shall have the right, at any time and for any reason and without giving any notice and/or explanation, to refuse, at its discretion, to execute any Order, including without limitation in the following cases: i. Whenever the Company deems that the execution of the Order aims at or may aim at manipulating the market of the Financial Instruments; constitutes an abusive exploitation of privileged confidential information (xxxxxxx xxxxxxx); contributes to the legalization of proceeds from illegal acts or activities (money laundering); and/or affects or may affect in any manner the reliability or smooth operation of the Electronic Trading Platform; ii. Whenever the Order concerns the purchase of any Financial Instrument but there are no available cleared funds deposited with the Company and/or in the Bank Account (as in Paragraph 9 below) to pay the purchase price of the relevant Financial Instrument and all the charges relating to the said Trading Platform. In calculating the said available funds, all funds required to meet any of the Customer’s obligations include, but without limitation, obligations which may arise from the possible execution of other previously registered purchase Orders, which will be deducted from the cleared funds deposited with the Company and/or in the Bank Account; The Company is not obliged to give reasons or notice as to the reasons for suspending, declining or cancelling Customer’s orders or instructions. Moreover, in the event that the Company does decide to suspend or cancel an instruction, such cancellation will not affect any obligation which the Customer may have towards the Company or any right which the Company may have against the Customer or his assets. 7.2 The Customer declares that he shall not knowingly give any order or instruction to the Company that might instigate the Company taking action in relation to Paragraph 7.1 above.

REFUSAL TO EXECUTE ORDERS. 7.1 9.1 The Customer Client acknowledges that the Company shall have the right, at any time and for any reason and without giving any notice and/or explanation, to refuse, at its discretion, to execute any Order, including without limitation amongst others in the following cases: i. (a) Whenever the Company deems that the execution of the Order aims at or may aim at manipulating the market of the Financial Instruments; , constitutes an abusive exploitation of privileged confidential information (xxxxxxx xxxxxxx); contributes to the legalization legislation of proceeds from illegal acts or activities (money laundering); and/or affects or may affect in any manner the reliability or smooth operation of the Electronic Trading Platform;. ii. (b) Whenever the Order concerns the purchase of any Financial Instrument but there are no available cleared funds deposited with the Company and/or in the Bank Account (as in Paragraph 9 Clause 12 below) to pay the purchase price of the relevant Financial Instrument and all the charges relating to the said Electronic Trading Platform. In calculating the said available funds, all funds required to meet any of the CustomerClient’s obligations include, but without limitation, obligations which may arise from the possible execution of other previously registered purchase Orders, which will be deducted from the cleared funds deposited with the Company and/or in the Bank Account; . The Company is not obliged to give reasons or notice as to the reasons for suspending, declining or cancelling CustomerClient’s orders or instructions. Moreover, in the event that the Company does decide to suspend or cancel an instruction, such cancellation will not affect any obligation which the Customer Client may have towards the Company or any right which the Company may have against the Customer Client or his assets. 7.2 9.2 The Customer Client declares that he shall not knowingly give any order or instruction to the Company that might instigate the Company taking action in relation to Paragraph 7.1 Clause 9.1 above.

REFUSAL TO EXECUTE ORDERS. 31 7.1 The Customer acknowledges that the Company shall have the right, at any time and for any reason and without giving any notice and/or explanation, to refuse, at its discretion, to execute any Order, including without limitation in the following cases: i. Whenever the Company deems that the execution of the Order aims at or may aim at manipulating the market of the Financial Instruments; constitutes an abusive exploitation of privileged confidential information (xxxxxxx xxxxxxx); contributes to the legalization of proceeds from illegal acts or activities (money laundering); and/or affects or may affect in any manner the reliability or smooth operation of the Electronic Trading Platform; ii. Whenever the Order concerns the purchase of any Financial Instrument but there are no available cleared funds deposited with the Company and/or in the Bank Account (as in Paragraph 9 below) to pay the purchase price of the relevant Financial Instrument and all the charges relating to the said Trading Platform. In calculating the said available funds, all funds required to meet any of the Customer’s obligations include, but without limitation, obligations which may arise from the possible execution of other previously registered purchase Orders, which will be deducted from the cleared funds deposited with the Company and/or in the Bank Account; The Company is not obliged to give reasons or notice as to the reasons for suspending, declining or cancelling Customer’s orders or instructions. Moreover, in the event that the Company does decide to suspend or cancel an instruction, such cancellation will not affect any obligation which the Customer may have towards the Company or any right which the Company may have against the Customer or his assets. 7.2 The Customer declares that he shall not knowingly give any order or instruction to the Company that might instigate the Company taking action in relation to Paragraph 7.1 above.