Safeguarding of Client Money. 20.1. The Company will promptly place any Client money it receives into one or more segregated account(s) (denoted as ‘clients’ accounts’) with reliable financial institutions (within or outside the relevant jurisdiction) such as a credit institution or a bank in a third country. It is understood that the Company may keep merchant accounts in its name with payment services providers used to settle payment transactions of its Clients. However, for the avoidance of doubt, it is noted that such merchant accounts are not used for safekeeping of Client money but only to effect settlements of payment transactions.
20.2. According to Applicable Regulations, the Company shall exercise due skill, care and diligence in the selection and appointment and periodic review of the financial institution of paragraph 20.1 of this Agreement and the arrangements for holding of Client money. The Company takes into account the expertise and market reputation of such institutions with the view of ensuring the protection of Client’s rights, as well as any legal or regulatory requirements or market practices related to holding of Client money that could adversely affect Client’s right. Diversification requirements will not apply to client money placed with a third party merely for the purpose of executing a Transaction for the Client.
20.3. According to Applicable Regulations, for the purposes of safeguarding of Client money, the Company:
(a) shall keep such records and accounts as are necessary to distinguish Clients’ assets from its own and of other Clients’; such records shall be accurate and correspond to the Client money;
(b) shall conduct, on a regular basis, reconciliations between its internal accounts and records and those of any third parties by whom those assets are held;
(c) shall at all times keep Client money segregated from the Company’s own money;
(d) shall not use Client money in the course of its own business;
(e) shall take the necessary steps to ensure that Client money deposited with a financial institution (according to paragraph 20.1 of this Agreement) are held in an account(s) identified separately from any accounts used to hold funds of the Company;
(f) shall introduce adequate organisational arrangements to minimise the risks of the loss or diminution of Client money, as a result of misuse, fraud, poor administration, inadequate record keeping or negligence.
20.4. The Company has duty to and shall exercise due skill, care and diligence in the selection an...
Safeguarding of Client Money. 21.1. The Company will promptly place any Client money it receives into one or more segregated account(s) with reliable financial institutions such as a credit institution or a bank.
21.2. Although the Company shall exercise due skill, care and diligence in the selection of the financial institution, it is understood that there are circumstances beyond the control of the Company and hence the Company does not accept any liability or responsibility for any resulting losses to the Client as a result of the insolvency or any other analogous proceedings or failure of the financial institution where Client money will be held.
21.3. The financial institution (of paragraph 21.1) where Client money will be held may be within or outside the EEA. It is understood that the legal and regulatory regime applying to any such financial institution outside the EEA will be different from that of the EEA. Hence, in the event of the insolvency or any other equivalent failure or preceding of that person, the Client’s money may be treated differently from the treatment which would apply if the money was held in a Segregated Account in an EEA country.
21.4. The financial institution to which the Company will pass Client money (as per paragraph 21.1) may hold it in an omnibus account. Hence, in the event of the insolvency or any other analogous proceedings in relation to that financial institution, the Company may only have an unsecured claim against the financial institution on behalf of the Client, and the Client will be exposed to the risk that the money received by the Company from the financial institution is insufficient to satisfy the claims of the Client.
21.5. It is understood that the Company may hold Client money and the money of other clients in the same account (omnibus account).
21.6. The Company shall not account to the Client for profits or interest earned on Client money (other than profit gained through trading Transactions from his Trading Account(s) under this Agreement) and the Client waives all right to interest.
21.7. The Company may deposit Client money in overnight deposits and will be allowed to keep any interest.
Safeguarding of Client Money. 19.1. The Company will place any Client money it receives into one or more segregated account(s) with reliable Financial Institutions. It is understood that the Company may keep merchant accounts in its name, as the operator, or in the name of another company, acting as a merchant, whose details are found on the preamble of this Agreement, with payment services providers used to settle payment transactions of its clients.
Safeguarding of Client Money. 20.1. The Company will promptly place any Client money it receives into one or more segregated account(s) with reliable financial institutions such as a credit institution or a bank in a third country.
20.2. Segregation of Client money does not protect the Client’s money from a risk of loss.
20.3. It is understood that the Company may hold Client money and the money of other clients in the same account (omnibus account).
20.4. Client money is only withdrawn from the segregated account to:
a) Process a withdrawal for the Client;
b) Transfer Margin to a Liquidity Provider;
c) Withdraw fees charges as a part of a deposit or withdrawal transaction;
d) Pay money to the Company if such money is owed to the Company as a result of the Client’s trading activity with the Company.
e) Make a payment which is otherwise authorised by the law or in compliance with the rules of a licenced market;
f) Hedge, counteract or offset the risk incurred by the Company in relation to the transactions with the Client.
20.5. You agree that when the Client money is moved from the segregated account to the Liquidity provider, it is no longer afforded the protection of being held in trust.
20.6. You agree that the Company may transfer the monies from your Trading Account for the purpose of authorised hedging activities.
20.7. You agree that the Client money to the Liquidity provider as is reasonably required for entering into derivatives with the Liquidity provider or for settling or securing those derivatives with the Liquidity provider.
20.8. The financial institution to which the Company will pass Client money (as per paragraph 20.1 of this Client Agreement) may hold it in an omnibus account. Hence, in the event of the insolvency or any other analogous proceedings in relation to that financial institution, the Company may only have an unsecured claim against the financial institution on behalf of the Client, and the Client will be exposed to the risk that the money received by the Company from the financial institution is insufficient to satisfy the claims of the Client.
20.9. The Company shall not account to the Client for profits or interest earned on Client money (other than profit gained through trading Transactions from his Trading Account(s) under this Agreement) and the Client waives all right to interest.
20.10. The Company may deposit Client money in overnight deposits and will be allowed to keep any interest.
20.11. The Company may hold Client money on the Client’s behalf i...
Safeguarding of Client Money. Money deposited by you will be received and safeguarded on your behalf in designated and segregated “Clients Accounts”. We will deal with any funds that we hold on your Account in accordance with the relevant provisions of “Safeguarding the Clients’ Money” that are provided in the applicable CySEC’s legislation.
Safeguarding of Client Money. 21.1. The Company Will promptly place any Client money it receives into one or more segregated account(s) (denoted as 'clients' accounts') with reliable financial institutions such as a credit institution or a bank in a third country. It is understood that the Company may keep merchant accounts in its name with payment services providers used to settle payment transactions of its Clients. However, for the avoidance of doubt, it is noted that such merchant accounts are not used for safekeeping of Client money but only to effect settlements of payment transactions.
21.2. According to Applicable Regulations, the Company shall exercise due skill, care and diligence in the selection and appointment and periodic review ofthe financial institution of paragraph 21.1 of this Client Agreement and the arrangements for holding of Client money. The Company takes into account the expertise and market reputation of such institutions with the view of ensuring the protection of Client's rights, as Well as any legal or regulatory requirements or market practices related to holding of Client money that could adversely affect Client's right. 21.3. According to Applicable Regulations, for the purposes of safeguarding of Client money, the Company:
a) shall keep such records and accounts as are necessary to distinguish Clients' assets from its own and of other Clients'; such records shall be accurate and correspond to the Client money;
b) shall conduct, on a regular basis, reconciliations between its internal accounts and records and those of any third parties by whor-n those assets are held;
c) shall at all times keep Client money segregated from the Company's own money, d) shall not use Client money in the course of its own business;
Safeguarding of Client Money. 15.1. According to Applicable Regulations, the Company shall exercise due skill, care and diligence in the selection and appointment and periodic review of the financial institution responsible for holding of Client money. The Company takes into account the expertise and market reputation of such institutions with the view of ensuring the protection of Client’s rights, as well as any legal or regulatory requirements or market practices related to holding of Client money that could adversely affect Client’s right. Diversification requirements will not apply to client money placed with a third party merely for the purpose of executing a Transaction for the Client.
15.2. The financial institution to which the Company will pass Client money (as per paragraph 15.1 of this Client Agreement) may hold it in an omnibus account. Hence, in the event of the insolvency or any other analogous proceedings in relation to that financial institution, the Company may only have an unsecured claim against the financial institution on behalf of the Client, and the Client will be exposed to the risk that the money received by the Company from the financial institution is insufficient to satisfy the claims of the Client.
15.3. It is understood that the Company may hold Client money and the money of other clients in the same account (omnibus account).
15.4. The Client agrees that the Company may deposit Client money in overnight deposits and will be allowed to keep any interest.
Safeguarding of Client Money. 21.1. The Company will promptly place any Client money it receives into one or more segregated account(s) (denoted as ‘clients’ accounts’) with reliable financial institutions (within or outside Australia) such as a credit institution or a bank in a third country. It is understood that the Company may keep merchant accounts in its name with payment services providers used to settle payment transactions of its clients. However, for the avoidance of doubt, it is noted that such merchant accounts are not used for safekeeping of Client money but only to effect settlements of payment transactions.
Safeguarding of Client Money. 42.1. The Company will promptly place any Client money it receives into one or more segregated account(s) (denoted as ‘clients’ accounts’) with reliable financial institutions (within or outside Cyprus or the EEA) such as a credit institution or a bank in a third country. It is understood that the Company may keep merchant accounts in its name with payment services providers used to settle payment transactions of its Clients. However, for the avoidance of doubt, it is noted that such merchant accounts are not used for safekeeping of Client money but only to effect settlements of payment transactions.
Safeguarding of Client Money. Segregation of Funds
17.1 The Company will promptly place any Client money it receives into one or more segregated account(s) (denoted as ‘clients’ accounts’) with reliable financial institutions (within or outside Cyprus or the EEA) such as a credit institution or a bank in a third country. It is understood that the Company may keep merchant accounts in its name with payment services providers used to settle payment transactions of its Clients. However, for the avoidance of doubt, it is noted that such merchant accounts are not used for safekeeping of Client money but only to effect settlements of payment transactions.
