Common use of Rules and Laws Clause in Contracts

Rules and Laws. 10.1 All Transactions shall be subject to the consultation, rules, regulations, customs, usages, rulings and interpretations, from time to time extant or in force of the Exchange or other markets (and of their respective clearing house, if any), where the Transactions are executed by Galaxy International Futures or the agents of Galaxy International Futures. All Transactions under this Agreement shall also the subject to any law, rules or regulation then applicable thereto, including but not by way of limitation the provisions of the Securities and Futures Ordinance, as amended from time to time and the rules and regulations thereunder. 10.2 Transactions related to Exchange Contracts shall be subject to the Governing Rules and the procedures of the Futures Exchange. Such rules contain provisions requiring Galaxy International Futures in certain circumstances to disclose name, beneficial Identity and such other information concerning the Client as the Futures Exchange may require and the Client agrees to provide such information concerning the Client as Galaxy International Futures may require in order for Galaxy International Futures to comply with the Governing Rules and the procedures and that in the event Galaxy International Futures fails to comply with the disclosure requirement under Rule 606(a) or 613(a) of the Futures Exchange, the Chief Executive of the Futures Exchange may require the Closing Out of positions on behalf of the Client or the imposition of a margin surcharge on the positions of the Client. 10.3 In respect of Transactions related to the F.O. Business executed in markets other than those organized by the Futures Exchange, the Client acknowledges such Transactions shall be subject to the rules and regulations of those markets and not those of the Futures Exchange, with the result that the Client may have a markedly different level and type of protection in relation to those transactions as compared to the level and type of protection afforded by the Rules of the Futures Exchange.