System and trading risks Clause Samples

System and trading risks. The Licensee acknowledges that there is significant risk in trading through a system, including the DMA Service, which is serviced by means of computer and telecommunications systems, even where generally accepted industry standards and practices are followed, including that: (a) the access to and use of the DMA Service cannot be operated in all circumstances without error including, without limitation, errors in computer programs and telecommunications systems. These errors may result in, among other things: (i) a delay in telecommunications services; (ii) interrupted service and faults, such that the DMA Service may not remain accessible at all times during the trading day and there may be problems affecting the stability of the DMA Service that could cause the Licensee to be unable to enter Orders via the DMA Service during normal trading hours; (iii) Orders and other communications relating to trading and execution not reaching OpenMarkets or being lost, rejected or partially received or sent, such that they are not accurately received or sent by the Licensee or OpenMarkets and are not representative of the original content of the Orders and other communications relating to trading and execution; (iv) inaccuracies in the provision of the DMA Service and generally; (b) the Licensee’s (and any Client’s) data may not be protected, and there are risks that other users of the DMA Service, institutions or holders or an Australian financial services licence will be able to see Orders submitted by the Licensee and other communications relating to trading and execution without the Licensee’s (or the relevant Client’s) (or OpenMarkets’) consent and that third parties (including persons on private networks) may have the ability to attach to the Licensee’s network; OpenMarkets Intermediary Services Agreement 67 (c) Orders and other communications relating to trading and execution and other data submitted to the DMA Service will not remain confidential; (d) the Licensee’s system may not be compatible with the DMA Service or a Trading Platform, and that this incompatibility may lead to an unstable environment; and (e) Orders may be placed through the DMA Service without the Licensee’s (or the relevant Client’s) authority by a person using the Security Information given to the Licensee and accordingly, that trades which have not been authorised by the Licensee (or the relevant Client) may be executed.