Treatment of Foreign Currency Payments and Balances. If any transaction for Customer’s Account is effected on any exchange or in any market on which transactions are settled or margined in foreign currency (including, without limitation, the Euro or another unit of currency adopted pursuant to the European Monetary Union): (a) any profit or loss arising from a fluctuation in the rate of exchange between such currency and the United States Dollar shall be entirely for Customer’s Account and at Customer’s risk; (b) unless otherwise agreed by Customer and CGM, all initial and subsequent margin deposits required or requested by CGM shall be in or denominated in the currency required by the applicable exchange or clearing house in such amounts as CGM, in its sole discretion, may require; and (c) CGM is authorized to convert funds or securities in Customer’s Account into and from such foreign currency at prevailing rates of exchange. If Customer has entered into a prime broker agreement with CGM, CGM is authorized to convert balances in the Account to a single currency in accordance with such prime broker agreement and any supplements or annexes thereto.
Appears in 4 contracts
Samples: Futures Account Agreement (Commodity Advisors Fund L.P.), I Futures Account Agreement (Smith Barney Warrington Fund L P), Futures Account Agreement (Smith Barney Bristol Energy Fund Lp)
