Common use of THE SERVICES WE PROVIDE Clause in Contracts

THE SERVICES WE PROVIDE. 4.1 We provide you with the ability to trade our Products through our Trading Platform. 4.2 We allow you to trade using leverage, which can magnify your profits but also your losses. You can find out more about the risks associated with trading on leverage in paragraph 6, and on our Website. 4.3 We will act as either principal or your agent when entering into Transactions. This means you are either entering into contracts directly with us to buy and sell financial instruments or we are entering into contracts with another person on your behalf. 4.4 You will enter into all Transactions with us on an execution only basis. An "execution only basis" means you will be solely responsible for all investment decisions and actions on your Account. You must therefore rely on your own judgment in respect of all dealings relating to your Account. This includes, but is not limited to, opening, closing, or not opening or closing, a Transaction. 4.5 When you enter into a Transaction with us, you are trading a derivative contract. A derivative is a contract which derives its price from an underlying asset. This underlying asset could (for example) be a share in a company, a commodity such as gold or the change in the exchange rate of currencies. You are therefore trading on potential price movements in the underlying asset. However, you will not have any interest in, or be entitled to, delivery of the underlying asset and, with respect to share CFDs, you will have no voting right, title or interest in any underlying asset or entitlement or right to acquire, receive, hold, vote, deliver, dispose of or participate directly in any corporate action of any underlying asset. 4.6 It is your responsibility to ensure that you are aware of all the rules governing a particular Transaction before you open it. In this regard, you should ensure that you familiarise yourself with the information on our Website, and the information that is disclosed about the instrument that you wish to trade on the trading platform immediately prior to providing your trading instructions. 4.7 In the event of a conflict between the terms of this Agreement and any other document, the terms in this Agreement shall prevail.

THE SERVICES WE PROVIDE. 4.1 We provide you with the ability to trade our Products through our Trading Platform. 4.2 We allow you to trade using leverage, which can magnify your profits but also your losses. You can find out more about the risks associated with trading on leverage in paragraph 6, and on our Website. 4.3 We will act as either principal or your agent when entering into Transactions. This means you are either entering into contracts directly with us to buy and sell financial instruments or we are entering into contracts with another person on your behalf. 4.4 You will enter into all Transactions with us on an execution only basis. An "execution only basis" means you will be solely responsible for all investment decisions and actions on your Account. You must therefore rely on your own judgment in respect of all dealings relating to your Account. This includes, but is not limited to, opening, closing, or not opening or closing, a Transaction. 4.5 When you enter into a Transaction with us, you are trading a derivative contract. A derivative is a contract which derives its price from an underlying asset. This underlying asset could (for example) be a share in a company, a commodity such as gold or the change in the exchange rate of currencies. You are therefore trading on potential price movements in the underlying asset. However, you will not have any interest in, or be entitled to, delivery of the underlying asset and, with respect to share CFDs, you will have no voting right, title or interest in any underlying asset or entitlement or right to acquire, receive, hold, vote, deliver, dispose of or participate directly in any corporate action of any underlying asset. 4.6 It is your responsibility to ensure that you are aware of all the rules governing a particular Transaction before you open it. In this regard, you should ensure that you familiarise familiarize yourself with the information on our Website, and the information that is disclosed about the instrument that you wish to trade on the trading platform immediately prior to providing your trading instructions. 4.7 In the event of a conflict between the terms of this Agreement and any other document, the terms in this Agreement shall prevail.

THE SERVICES WE PROVIDE. 4.1 2.1 All transactions will be undertaken on an “execution only” basis. Execution only services are provided by us when we execute trades on your behalf but without providing advice or personal recommendations. We provide will not advise you about the merits of a particular transaction, any corporate action or the composition of your account. We will not have any discretion in relation to your account and will act for you only in accordance with the ability to trade our Products through our Trading Platform. 4.2 We allow instructions given by you to trade using leverage, which can magnify your profits but also your losses. You can find out more about the risks associated with trading on leverage in paragraph 6us, and on our Website. 4.3 We will act as not seek your further instructions, either principal before or your agent when entering into Transactions. This means you are either entering into contracts directly with us to buy and sell financial instruments or we are entering into contracts with another person after effecting the transaction on your behalf. Where an execution-only order is accepted by us we are not responsible for ensuring the investment is suitable for you. 4.4 You will 2.2 If you instruct us to enter into an execution-only transaction in relation to shares that have been admitted to trading on a regulated market or an equivalent market in a country outside the European Economic Area, money market instruments, bonds or other forms of securitised debt, units in a UCITS fund or other “non-complex” financial instruments and if we enter into such a transaction then: (a) we shall not have any duty to advise you in respect of either that execution-only transaction or any subsequent or potential sale of any asset acquired under that execution-only transaction; and (b) we are not responsible for assessing the suitability and appropriateness of that execution-only transaction in the context of your investment objectives. 2.3 Where you effect an execution-only transaction in an investment that is not of the kind described above (a complex financial instrument) we shall owe you a duty under the FCA Rules to assess the appropriateness of the execution-only transaction by reference to your experience, knowledge and understanding of the risks involved. If we consider (on the basis of the information that we hold about you) that the execution-only transaction is not appropriate for you, we shall warn you about this. If, notwithstanding the warning that we have given you, you ask us to proceed with the execution-only transaction and we execute the transaction for you, you shall be solely responsible for that decision and we shall have no liability to you in respect of it. The provisions of this clause shall be without prejudice to our general rights to refuse to execute your orders or instructions. 2.4 You agree to supply us with all Transactions information that we request to enable us to assess the appropriateness of execution-only transactions. 2.5 We will not give you any taxation or investment advice on transactions. 2.6 Our services will cover the following investments: (a) shares in British or foreign companies; (b) debenture stock, loan stock, bonds, notes, certificates of deposit, commercial paper or other debt instruments, including government, public agency, municipal and corporate issues; (c) depository receipts or other types of instrument relating to investments falling within (a) or (b) above; and (d) unit trusts, mutual funds and similar schemes in the United Kingdom or elsewhere. The services to be provided by us may include executing transactions in unregulated collective investment schemes, all or any of which are hereinafter referred to as “Securities”. There are no restrictions on the markets on which transactions may be executed. You agree and expressly consent to us executing transactions on your behalf outside a regulated market, multilateral trading facility or organised trading facility. You should refer to the risk warnings in Schedule A in relation to such Securities, and other relevant risk warnings. 2.7 When providing execution only services, where we disclose the target market for a particular product to you it is your responsibility to verify that you fall within the target market criteria disclosed by us for the product and we will not be responsible for undertaking this assessment for you. We will deal with us you on an execution only basisbasis and you will therefore not benefit from the protection of the Rules on assessing suitability. An "execution only basis" means Therefore, we will not assess whether: (a) the requested product or service meets your investment objectives and risk tolerance; (b) you will be solely able to financially bear the risk of any loss that the product or service may cause; or (c) you have the necessary knowledge and experience to understand the risks involved. 2.8 Unless we agree otherwise with you in writing, we shall not be responsible for all investment decisions managing or supervising the management of any of your investments nor shall we accept responsibility for advising on the composition of your portfolio of investments. 2.9 We will not enter into any contingent liability transactions (as defined in the Rules) with or for you. 2.10 We may from time to time provide other services as are agreed between us in writing or may, in our absolute discretion and actions without having to give you any reason for so doing, refuse to provide particular services. 2.11 Additional terms and conditions may be applicable to the services described above, and where necessary these will be communicated to you at the relevant time. We will not provide services which require us to make further communication to or for you until we have received back signed copies of any requested paperwork. 2.12 We may appoint and use any person as our agent, on your Accountany terms we think appropriate, to assist us in the provision of the services under this Agreement, and any such person may not be in the United Kingdom. Without prejudice to the foregoing, we may carry out any transaction with or for you directly or, in our absolute discretion, with or through an agent, broker, intermediary, member of an exchange/clearing institution or other third party (each a “Third Party”). You must therefore rely on your own judgment will reimburse us for any charges, commissions or fees of any such Third Party in respect accordance with clauses 5 and 6. 2.13 We may provide or arrange for the provision of any or all dealings relating of our services to your Account. This includes, but is not limited to, opening, closingyou under this Agreement, or not opening carry out any activity connected with such services or closing, a Transaction. 4.5 When you enter into a Transaction with any of your transactions or your accounts with us, you are trading a derivative contract. A derivative is a contract which derives its price including, without limitation, any administrative, execution or settlement function, from an underlying asset. This underlying asset could any Panmure Group (for exampleas defined below) be a share in a companyoffices, a commodity such as gold or the change by any Panmure Group member, whether located in the exchange rate of currenciesUnited Kingdom or elsewhere. You are therefore trading on potential price movements in For the underlying asset. However, you will not have any interest in, or be entitled to, delivery of the underlying asset and, with respect to share CFDs, you will have no voting right, title or interest in any underlying asset or entitlement or right to acquire, receive, hold, vote, deliver, dispose of or participate directly in any corporate action of any underlying asset. 4.6 It is your responsibility to ensure that you are aware of all the rules governing a particular Transaction before you open it. In this regard, you should ensure that you familiarise yourself with the information on our Website, and the information that is disclosed about the instrument that you wish to trade on the trading platform immediately prior to providing your trading instructions. 4.7 In the event of a conflict between the terms purposes of this Agreement the Panmure Group means Panmure Xxxxxx (UK) Limited and any other documentits “group” as defined in the Financial Services and Markets Act 2000 as amended and each member of the Panmure Group‟s directors, the terms in this Agreement shall prevailemployees, agents and nominees.

THE SERVICES WE PROVIDE. 4.1 We provide you with will offer you, on an execution-only basis, access to trading a number of instruments in the ability form of CFDs (also referred to trade as ‘Leveraged Products’). Please visit our Products through our Trading PlatformWebsite for detailed description of the instruments we offer and the contract specifications. 4.2 We allow you Novox acts, at all times, as a principal. Novox offers, on an execution-only basis, a number of financial instruments to trade using leveragethe Client, the contract specifications of which can magnify your profits but also your lossesare available on our Website. You can find out more about . For a full description of the risks associated with trading on leverage in paragraph 6services that Novox offers, and on please visit our Website. 4.3 We will act as either principal or your agent when entering into TransactionsUnder this agreement, the payment processing services for services purchased on this website are provided by Novox Global Limited, which is an Affiliate of NOVOX. This means In the event you are either entering into contracts directly choose to pay with us a card, the payment is to buy be processed by a European acquirer and sell financial instruments or we are entering into contracts with another person on your behalfmerchant of record is Novox Global Limited while services may be provide by NOVOX. 4.4 You will enter into all Transactions with us on an execution only basis. An "execution only basis" means you will be solely responsible for all investment decisions and actions on your AccountWe do not provide investment, financial, legal, tax or regulatory advice nor do we provide any other form of recommendation. You must therefore understand that you shall make your own assessment of any transaction prior to entering into a trade, and shall not rely on your own judgment in respect any opinion, material or analysis provided by us or any of all dealings relating to your Account. This includesour affiliates, but is not limited to, opening, closingemployees, or not opening other related parties as being advice or closingrecommendation. If you are unsure whether you should proceed with this Agreement, a Transactionyou may wish to seek independent advice. 4.5 When We do not offer investment research, and any material containing market analysis is considered marketing communication and should not be construed as advice, recommendation or research. 4.6 You understand that CFDs are derivative products, and therefore you enter into a Transaction with us, you are trading a derivative contractwill not be entitled to own any underlying instrument. A derivative is a contract which derives its price from an underlying asset. This You also understand that no physical delivery of any underlying asset could (shall occur. 4.7 You accept that Novox is the only execution venue in relation to your trading activity under this Agreement. Although we may transmit your orders for example) execution to third-party liquidity providers through an electronic communication platform, contractually we are the sole counterparty to your trades and any execution of orders is done in our name. Further information can be found in our ‘Order Execution Policy’. 4.8 You can trade during our normal trading hours, during which our platform provides prices and you can give instructions or place orders to trade a share in CFD on a company, a commodity such as gold or financial instrument; the change normal trading hours for each financial instrument are specified in the exchange rate of currenciescontract specifications on our Website. You are therefore trading on potential price movements responsible for reviewing these contract specifications, prior to trading. You will be notified of any Novox holidays either through the internal e-mailing system or via other means, such as through our Website. 4.9 We will only provide you with our services in the underlying assetaccordance with our policies and procedures as long as we are not in breach of any legal requirements. However, you There can be instances where we will not have any interest inbe able to provide you with a reason for refusing the provision of our services, where for instance doing so would be in contrast with the law. Examples of when we will not provide services (or be entitled to, delivery of the underlying asset and, with respect cease providing services) to share CFDs, you will have no voting right, title or interest in any underlying asset or entitlement or right to acquire, receive, hold, vote, deliver, dispose of or participate directly in any corporate action of any underlying asset. 4.6 It is your responsibility to ensure include instances (i) where we reasonably believe that you are aware abusing any of all the rules governing our offerings (e.g. where you are involved in latency abuse, xxxxxxx xxxxxxx or abusing NBP), (ii) where there is a particular Transaction before regulatory justification for doing so, or (iii) where you open ithave been using inappropriate/ defamatory language. In this regardaddition, you should ensure that you familiarise yourself with we will not provide services where Novox internal risk limits no longer permit the information acceptance of any further orders on our Website, and specific instrument(s); please refer to the information that is disclosed about the instrument that you wish to trade on the trading platform immediately prior to providing your trading instructions‘Order Execution Policy’ for further details. 4.7 In the event of a conflict between the terms of this Agreement and any other document, the terms in this Agreement shall prevail.

THE SERVICES WE PROVIDE. 4.1 We provide you with the ability to trade our Products through our Trading Platform. 4.2 We allow you to trade using leverage, which can magnify your profits but also your losses. You can find out more about the risks associated with trading on leverage in paragraph 6, and on our Website. 4.3 We will act as either principal or your agent when entering into Transactions. This means you meansyou are either entering into contracts directly with us to buy and sell financial instruments or we are entering into contracts with another person on your behalf. 4.4 You will enter into all Transactions with us on an execution only basis. An "execution only basis" means you will be solely responsible for all investment decisions and actions on your Account. You must therefore rely on your own judgment in respect of all dealings relating to your Account. This includes, but is not limited to, opening, closing, or not opening or closing, a Transaction. 4.5 When you enter into a Transaction with us, you are trading a derivative contract. A derivative is a contract which derives its price from an underlying asset. This underlying asset could (for example) be a share in a company, a commodity such as gold or the change in the exchange rate of currencies. You are therefore trading on potential price movements in the underlying asset. However, you will not have any interest in, or be entitled to, delivery of the underlying asset and, with respect to share CFDs, you will have no voting right, title or interest in any underlying asset or entitlement or right to acquire, receive, hold, vote, deliver, dispose of or participate directly in any corporate action of any underlying asset. 4.6 It is your responsibility to ensure that you are aware of all the rules governing a particular Transaction before you open it. In this regard, you should ensure that you familiarise yourself with the information on our Website, and the information that is disclosed about the instrument that you wish to trade on the trading platform immediately prior to providing your trading instructions. 4.7 In the event of a conflict between the terms of this Agreement and any other document, the terms in this Agreement shall prevail.

THE SERVICES WE PROVIDE. 4.1 2.1 All transactions will be undertaken on an “execution only” basis. Execution only services are provided by us when we execute trades on your behalf but without providing advice or personal recommendations. We provide will not advise you about the merits of a particular transaction, any corporate action or the composition of your account. We will not have any discretion in relation to your account and will act for you only in accordance with the ability to trade our Products through our Trading Platform. 4.2 We allow instructions given by you to trade using leverage, which can magnify your profits but also your losses. You can find out more about the risks associated with trading on leverage in paragraph 6us, and on our Website. 4.3 We will act as not seek your further instructions, either principal before or your agent when entering into Transactions. This means you are either entering into contracts directly with us to buy and sell financial instruments or we are entering into contracts with another person after effecting the transaction on your behalf. Where an execution-only order is accepted by us we are not responsible for ensuring the investment is suitable for you. 4.4 You will 2.2 If you instruct us to enter into an execution-only transaction in relation to shares that have been admitted to trading on a regulated market or an equivalent market in a country outside the European Economic Area, money market instruments, bonds or other forms of securitised debt, units in a UCITS fund or other “non-complex” financial instruments and if we enter into such a transaction then: (a) we shall not have any duty to advise you in respect of either that execution-only transaction or any subsequent or potential sale of any asset acquired under that execution-only transaction; and (b) we are not responsible for assessing the suitability and appropriateness of that execution-only transaction in the context of your investment objectives. 2.3 Where you effect an execution-only transaction in an investment that is not of the kind described above (a complex financial instrument) we shall owe you a duty under the FCA Rules to assess the appropriateness of the execution-only transaction by reference to your experience, knowledge and understanding of the risks involved. If we consider (on the basis of the information that we hold about you) that the execution-only transaction is not appropriate for you, we shall warn you about this. If, notwithstanding the warning that we have given you, you ask us to proceed with the execution-only transaction and we execute the transaction for you, you shall be solely responsible for that decision and we shall have no liability to you in respect of it. The provisions of this clause shall be without prejudice to our general rights to refuse to execute your orders or instructions. 2.4 You agree to supply us with all Transactions information that we request to enable us to assess the appropriateness of execution-only transactions. 2.5 We will not give you any taxation or investment advice on transactions. 2.6 Our services will cover the following investments: (a) shares in British or foreign companies; (b) debenture stock, loan stock, bonds, notes, certificates of deposit, commercial paper or other debt instruments, including government, public agency, municipal and corporate issues; (c) depository receipts or other types of instrument relating to investments falling within (a) or (b) above; and (d) unit trusts, mutual funds and similar schemes in the United Kingdom or elsewhere. The services to be provided by us may include executing transactions in unregulated collective investment schemes, all or any of which are hereinafter referred to as “Securities”. There are no restrictions on the markets on which transactions may be executed. You agree and expressly consent to us executing transactions on your behalf outside a regulated market, multilateral trading facility or organised trading facility. You should refer to the risk warnings in Schedule A in relation to such Securities, and other relevant risk warnings. 2.7 When providing execution only services, where we disclose the target market for a particular product to you it is your responsibility to verify that you fall within the target market criteria disclosed by us for the product and we will not be responsible for undertaking this assessment for you. We will deal with us you on an execution only basisbasis and you will therefore not benefit from the protection of the Rules on assessing suitability. An "execution only basis" means Therefore, we will not assess whether: (a) the requested product or service meets your investment objectives and risk tolerance; (b) you will be solely able to financially bear the risk of any loss that the product or service may cause; or (c) you have the necessary knowledge and experience to understand the risks involved. 2.8 Unless we agree otherwise with you in writing, we shall not be responsible for all investment decisions managing or supervising the management of any of your investments nor shall we accept responsibility for advising on the composition of your portfolio of investments. 2.9 We will not enter into any contingent liability transactions (as defined in the Rules) with or for you. 2.10 We may from time to time provide other services as are agreed between us in writing or may, in our absolute discretion and actions without having to give you any reason for so doing, refuse to provide particular services. 2.11 Additional terms and conditions may be applicable to the services described above, and where necessary these will be communicated to you at the relevant time. We will not provide services which require us to make further communication to or for you until we have received back signed copies of any requested paperwork. 2.12 We may appoint and use any person as our agent, on your Accountany terms we think appropriate, to assist us in the provision of the services under this Agreement, and any such person may not be in the United Kingdom. Without prejudice to the foregoing, we may carry out any transaction with or for you directly or, in our absolute discretion, with or through an agent, broker, intermediary, member of an exchange/clearing institution or other third party (each a “Third Party”). You must therefore rely on your own judgment will reimburse us for any charges, commissions or fees of any such Third Party in respect accordance with clauses 5 and 6. 2.13 We may provide or arrange for the provision of any or all dealings relating of our services to your Account. This includes, but is not limited to, opening, closingyou under this Agreement, or not opening carry out any activity connected with such services or closing, a Transaction. 4.5 When you enter into a Transaction with any of your transactions or your accounts with us, you are trading a derivative contract. A derivative is a contract which derives its price including, without limitation, any administrative, execution or settlement function, from an underlying asset. This underlying asset could any Panmure Group (for exampleas defined below) be a share in a companyoffices, a commodity such as gold or the change by any Panmure Group member, whether located in the exchange rate of currenciesUnited Kingdom or elsewhere. You are therefore trading on potential price movements in For the underlying asset. However, you will not have any interest in, or be entitled to, delivery of the underlying asset and, with respect to share CFDs, you will have no voting right, title or interest in any underlying asset or entitlement or right to acquire, receive, hold, vote, deliver, dispose of or participate directly in any corporate action of any underlying asset. 4.6 It is your responsibility to ensure that you are aware of all the rules governing a particular Transaction before you open it. In this regard, you should ensure that you familiarise yourself with the information on our Website, and the information that is disclosed about the instrument that you wish to trade on the trading platform immediately prior to providing your trading instructions. 4.7 In the event of a conflict between the terms purposes of this Agreement the Panmure Group means Panmure Xxxxxx (UK) Limited and any other documentits “group” as defined in the Financial Services and Markets Act 2000 as amended and each member of the Panmure Group’s directors, the terms in this Agreement shall prevailemployees, agents and nominees.