Common use of Universal Accounts Clause in Contracts

Universal Accounts. An IB Universal Account is two underlying accounts, an SEC-regulated securities account and a CFTC-regulated commodity account. Customer authorizes transfers between the securities and commodity accounts to cover Margin Requirements and other obligations, and acknowledges IB may liquidate positions to cover obligations in the other account. Customer authorizes IB to provide combined confirmations/statements for both accounts. Customer acknowledges that only assets in the securities account are covered by SIPC protection and excess coverage and not assets in the commodity account.

Universal Accounts. An IB Universal Account is two underlying accounts, : an SEC-regulated securities account and a CFTC-regulated commodity account. Customer authorizes transfers between the securities and commodity accounts to cover Margin Requirements and other obligations, and acknowledges IB may liquidate positions to cover obligations in the other account. Customer authorizes IB to provide combined confirmations/statements for both accounts. Customer acknowledges that only assets in the securities account are covered by SIPC protection and excess coverage and not assets in the commodity account.

Universal Accounts. An IB Universal Account is two underlying accounts, ac- counts: an SEC-regulated securities account and a CFTC-regulated commodity com- modity account. Customer authorizes transfers between the securities and commodity accounts to cover Margin Requirements and other obligations, and acknowledges IB may liquidate positions to cover obligations in the other account. Customer authorizes IB to provide combined confirmations/confirmations/ statements for both accounts. Customer acknowledges that only assets in the securities account are covered by SIPC protection and excess coverage cover- age and not assets in the commodity account.