Common use of Settlement arrangements Clause in Contracts

Settlement arrangements. Northbound Trading follows the settlement cycle of A shares listed on the relevant China Connect Market. For settlement of China Connect Securities trades, ChinaClear will debit or credit the securities accounts of its participants (including HKSCC as clearing participant) on the Trading Day on which the order is made (“T day”) free of payment. Galaxy International Securities may have settlement arrangements in place that are different from the ChinaClear settlement arrangements. Unless Galaxy International Securities agrees to prefund, settlement of funds relating to such trading will be effected on the Trading Day following T day (“T+1 day”).

Settlement arrangements. Northbound Trading follows the settlement cycle of A shares A-Shares listed on the relevant China Connect Market. For settlement of China Connect Securities trades, ChinaClear will debit or credit the securities accounts of its participants (including HKSCC as clearing participant) on the Trading Day on which the order is made (“T day”) free of payment. Galaxy International Securities FSL may have settlement arrangements in place that are different from the ChinaClear settlement arrangements. Unless Galaxy International Securities FSL agrees to prefundpre-fund, settlement of funds relating to such trading will be effected on the Trading Day following T day (“T+1 day”).