Foreign Currency Transactions. The Firm performs foreign currency transactions based on a direct or indirect request by you. An indirect request is where you have requested a trade in securities denominated in a currency other than the currency of your Account. The foreign currency conversion rate that appears on your trade confirmation and account statement includes the Firm’s spread-based revenue (spread) for performing this function. The foreign currency conversion rate and the Firm’s spread will depend on market fluctuations as well as the amount, date and type of foreign currency transaction. Foreign currency conversions take place at such rates as are available to our retail clients for currency conversions of a similar amount, date and type. In performing foreign currency transactions, the Firm may act as agent or principal. The Firm may, at its discretion, reject a foreign currency transaction request. The Firm converts foreign currencies into CAD, USD or other currencies (if available) on the day that it carries out your transaction. The Firm may use a different day for transactions that may be agreed upon with you, or other transactions that the Firm deems necessary.
