Contract
I Opšte odredbe
Član 1 Ovim Pravilima Društvo u skladu sa važećim zakonskim i podzakonskim propisima uređuju opšte uslove i način poslovanja i rada Društva, a naročito:
- vrste i opis poslova koje obavlja Društvo; - uslovi za sticanje statusa klijenta Društva; - osnov za izvršenje investicionih i pomoćnih usluga; - uslovi za zaključenje i elementi ugovora za obavljanje investicionih i pomoćnih usluga; - obaveza Društva da upozna klijenta sa investicionim i pomoćnim uslugama koje obavlja; - osnovna prava i obaveze Društva i klijenata; -način informisanja klijenata o finansijskim instrumentima; - vrste i elementi naloga klijenata shodno uslugama koje Društvo pruža klijentima; - način prijema I izvršenja naloga klijenata, postupak, prava i obaveze Društva I klijenata; - rok za izmjenu ili opoziv naloga; - način ispunjenja obaveza nastalih izvršavanjem naloga klijenata; - način obračuna provizije; - posljedice neizvršavanja obaveza, kao i odgovornost Društva za štetu i gubitke prema klijentu; - sadržaj I način vođenja knige naloga, i - tajnost podataka.
II VRSTE I OPIS POSLOVA KOJE OBAVLJA DRUŠTVO
Član 2 Društvo, u skladu sa članom 206 Zakona o tržištu kapitala, obavlja sljedeće investicione usluge i aktivnosti:
1. prijem i prenos naloga koji se odnose na jedan ili više finansijskih intrumenata; 2. izvršenje naloga za račun klijenta; 3. upravljanje portfeljem; 4. investiciono savjetovanje.
Član 3. Društvo obavlja i druge pomoćne usluge iz člana 206 stav 2 Zakona o tržištu kapitala, i to:
1. čuvanje i administriranje finansijskih instrumenata za račun klijenata, uključujući kastodi usluge i sa xxx povezane usluge, kao što je upravljanje novčanim sredstvima i kolateralima, a xxxx xx: - otvaranja i vođenja računa hartija od vrijednosti kod CKDD-a u ime i za račun zakonitih imalaca (vlasnički račun klijenata); - otvaranje računa za plaćanje klijenata kod kreditne institucije; - staranje o izvršavanju naloga kupovine I prodaje finansijskih instrumenata klijenata.
2. usluge poslovanja stranom valutom u vezi sa pružanjem investicionih usluga. Član 4 Društvo navedene investicione usluge i aktivnosti obavlja po osnovu odobrenja xx xxxxxx Komisije i u potpunosti ispunjava sve uslove kadrovske, organizacione, tehničke opremljenosti i druge uslove u skladu sa Zakonom i Pravilima koja su neophodna za obavljanje djelatnosti Društva. Društvo ispunjava i sve ostale uslove koji se tiču poslovnog prostora, organizacije i funkcionisanja informacionog sistema, računovodstvenih procedura kao i mjera za obezbjeđenje kontinuiteta poslovanja.
Član 5 Društvo pruža investicione usluge i obavlja investicione aktivnosti za finansijske instrumente ugovore o razlikama.
III USLOVI ZA STICANJE STATUSA KLIJENTA DRUŠTVA
Identifkacija klijenta Član 6 Klijent Društva može biti domaće ili xxxxxx, fizičko ili pravno lice. Identifikacija klijenata se sprovodi u skladu sa Zakonom o sprečavanju pranja novca i finanasiranja terorizma, i aktima Društva koji regulišu predmetnu materiju. Prije uspostavljanja poslovnog odnosa obavezno se vrši identifikacija klijenta, koja obuhvata:
-utvrđivanje identiteta klijenta, odnosno ako je identitet prethodno utvrđen, provjeru identiteta na osnovu vjerodostojnih, nezavisnih i objektivnih izvora; -prikupljanje podataka o klijentu, odnosno ako su podaci prikupljeni, provjeravanje prikupljenih podataka na osnovu vjerodostojnih, nezavisnih i objektivnih izvora.
Pri identifikaciji klijenta preduzimaju se i sljedeće radnje:
-prije uspostavljanja poslovnog odnosa ili sprovođenja transakcije utvrđuju se i provjeravaju identitet klijenta kao i identitet stvarnog vlasnika na osnovu dokumenata, podataka i informacija pomoću kojih se na nesumnjiv i pouzdan način može utvrditi identitet; - preduzimaju se mjere koje će omogućiti provjeru i utvrđivanje vlasničke strukture klijenta i stvarne kontrole nad klijentom kako bi se utvrdio identitet stvarnog vlasnika klijenta; -pribavljaju se i čuvaju podaci i dokumentacija na osnovu koje se utvrđuje identitet i faktor rizika klijenta; -stalno xx xxxxx poslovni odnos s klijentom, uključujući transakcije tokom tog odnosa (odgovaraju li transakcije vrsti posla i rizika klijenta i informacijama o xxx klijentu), te vodi evidencija i xxxx dokumentacija o praćenju poslovnog odnosa; -ako je moguće, a prije uspostavljanja poslovne saradnje s klijentom, utvrđuju se razlozi zbog kojih klijent prekida ugovorne odnose sa drugim učesnikom na tržištu kapitala; -pri obavljanju transakcija klijenta koji je identifikovan, a pomoću tehnologija koje ne uključuju direktan kontakt, primjenjuju se postupci kojima se omogućava prethodna provjera autentičnosti i tačnosti naloga za transakciju i autentičnosti njihovog podnosioca.
U okviru provjere i pregleda klijenta koji je pravno lice, pored identifikacije, utvrđuje se i stvarni vlasnik toga pravnog lica sprovođenjem mjera u cilju pribavljanja podataka za fizičko lice koje je stvarni vlasnik.
IV OSNOV ZA IZVRŠENJE INVESTICIONIH I POMOĆNIH USLUGA Član 7. Nakon uspješno sprovedenog postupka identifikacije klijenta u skladu sa regulativom sprečavnja pranja novca i finansiarnja terorizma, putem web stranice Društva xxx.xxxxxxx-xxxxxxxxxx.xx, slijedi xxxxx xxxxxxxx registracije klijenta, po svim nivoima identifikacije, do u krajnjem, odabira vrste Ugovora za pružanje investicionih i pomoćnih usluga koji klijent zaključuje sa Društvom. Član 8. Klijent može zaključiti sa Društvom jedan od sljedećih ugovora:
V USLOVI ZA ZAKLJUČENJE I ELEMENTI UGOVORA ZA OBAVLJANJE INVESTICIONIH I POMOĆNIH USLUGA
Član 9. Fizičko lice, domaće ili xxxxxx, xxxx biti punoljetno da bilo klijent Društva. Posredstvo web stranice Društva xxx.xxxxxxx-xxxxxxxxxx.xx, klijent aplicira za identifikaciju. Nakon uspješno završene registracije po svim nivoima identifikacije, i prihvatanjem odredbi i uslova naše politike privatnosti, klijent zaključuje Ugovor sa Društvom, čime klijent, pored ugovora, prihvata i odredbe svih dokumenata iz seta pravnih dokumenta za Kijente. Zaključenjem Ugovora sa Društvom klijent neopozivo izjavljuje da je razumio i da prihvata sve rizike vezane za derivativne finansijske instrumente, a posebno ugovore o razlikama. Elementi ugovora za obavljanje investicionih i pomoćnih usluga su sljedeći: - lični podaci klijenta (fizičkog ili pravnog lica) propisani zakonskom regulativom; 2. izjava da je klijent upoznat sa Pravilima poslovanja i Tarifnikom (Cjenovnikom usluga Društva); 3. izjava o primjerenosti transakcije; 4. nedvosmislen opis predmeta Ugovora; 5. identifikaciona šifra ili drugi instrument identifikacije koji služi u svrhu provjere svakog naloga, a koja smije biti poznata samo Društvu i klijentu, odnosno ovlašćenim licima klijenta; 6. način dostavljanja naloga i način identifikacije ili način provjere identifikacione šifre; 7. način raskida ugovora; 8. način rješavanja eventualnih sporova, odnosno određenje suda nadležnog za eventualne sporove, i 9. datum zaključenja ugovora i potpis ugovornih strana.
VI OBAVEZA INVESTICIONOG DRUŠTVA DA UPOZNA KLIJENTA SA INVESTICIONIM I POMOĆNIM USLUGAMA KOJE OBAVLJA Društvo je u obavezi da postojeće i potencijalne klijente upozna sa investicionim i pomoćnim uslugama koje obavlja, dostavlja detaljne informacije o karakteristikama i rizicima finansijskih instrumenata, ugovorima o razlikama, primjereno kategorizaciji klijenta, koje će omogućiti klijentu da xxxxxx odgovarajuću odluku o ulaganju. Informacije o riziku ulaganja sredstava naročito obuhvataju: 1) rizike povezane sa vrstom finansijskog instrumenta, uključujući pojašnjenje finansijske poluge i njenog učinka, xxx x xxxxx od gubitka ulaganja; 2) volatilnost cijene finansijskog instrumenta i eventualna ograničenja na postojećem tržištu za te instrumente; 3) finansijske i druge dodatne obaveze investitora u slučaju transakcije sa xxx finansijskim instrumentima; 4) podatke o marži i druge obaveze u vezi finansijskog instrumenta. Jezici komunikacije su engleski i crnogorski jezik. Društvo sa klijentima - stranim pravnim ili fizičkim licima može komunicirati na drugom stranom jeziku koji je predviđen ugovorom, pod uslovom da se ugovor, nalozi i druga neophodna dokumentacija koju klijent razmenjuje sa Društvom sastavljaju dvojezično.
Društvo klijentima i potencijalnim klijentima omogućava uvid u opšta akta i sva druga pismena putem web stranice Društva, xxx.xxxxxxx-xxxxxxxxxx.xx, na crnogorski i engleski jezik.
Društvo klijentu dostavlja obavještenje o svakoj značajnoj promjeni dostavljenih informacija, putem trajnog medija ili na način određen Ugovorom.
Društvo pruža investicione usluge i obavlja investicione aktivnosti sa finansijskim instrumentom, ugovorom o razlikama, u skladu sa odredbama Zakona i relevantnim propisima. Pri pružanju i obavljanju investicionih usluga i aktivnosti Društvo je dužno da poslove obavlja u skladu sa: 1. načelom solventnosti, odnosno da je trajno sposobno da ispunjava sve svoje novčane obaveze, i 2. načelom likvidnosti, odnosno da u svakom trenutku pravovremeno ispunjava dospjele novčane obaveze.
Član 11. Društvo može drugom licu da poveri poslove koji se odnose na:
Prilikom poveravanja navedenih poslova drugom licu, Društvo posebno vodi računa o: znanju, sposobnosti, sredstvima i profesionalnosti drugog lica kome se povjeravaju poslovi za obavljanje.
Društvo sa licem kojem povjerava obavljanje navedenih poslova sklapa ugovor kojim precizno definiše prava i obaveze obije ugovorne strane u cilju izbjegavanja rizika I sprovođenja kvalitetnog izvršavanja obaveza.
VII OSNOVNA PRAVA I OBAVEZE DRUŠTVA I KLIJENATA
Član 12. Osnovna prava i obaveze Društva
Društvo ima parvo da:
u sljedećim lučajevima:
-ako klijent ne dostavi tražena dokumenta za svrhu identifikacije, uključujući i provjeru zakonitosti sredstava; -ako sumnja da su dostavljena dokumenta lažna ili falsifikovana; -ako sumnja da je klijent uključen u nelegalno poslovanje; -ako je Društvo obaviješteno da je klijentova kreditna ili debitna kartica (ili bilo koji drugi način plaćanja) izgubljena ili ukradena; -u skladu sa razumnim prosuđivanjem Društva, kako bi se uskladili s važećim zakonima i propisima.
Društvo ima parvo, tokom trgovanja, da postavi granice i/ili parametre za kontrolu sposobnosti klijenta da postavlja naloge.
Prije zaključenja Ugovora, Društvo je dužno da prikupi, informacije o klijentu, o njegovom znanju i iskustvu u investicionoj oblasti xxxx xx od značaja za finansijski instrument ili uslugu koja xx xxxx ili traži, radi procjene u kojoj mjeri je taj finansijski instrument, odnosno usluga odgovarajuća za klijenta.
Društvo je dužno da obavijesti klijenta da može da zatraži izmjenu ugovorenih uslova radi postizanja višeg nivoa zaštite.
Društvo sa aspekta izvršavanja naloga preduzima sve potrebne korake da dobije najbolji mogući rezultat prilikom izvršavanja naloga klijenata, odnosno da pruža najbolju moguću ukupnu cijenu za klijente (uključujući troškove) u što kraćem roku. Društvo je dužno da se prilikom utvrđivanja i sprječavanja nedozvoljenih radnji (sukob interesa, nedozvoljene sopstvene transakcije, zloupotreba povlašćenih informacija, odavanje poslovne xxxxx) do kojih može doći prilikom pružanja usluga iz djelatnosti Društva, pridržava mjera i postupaka koji su propisani Politikom upravljnja sukobom interesa i Pravilnikom o poslovnoj tajni koji čine sastavni dio ovih Pravila. Član 13. Osnovna prava i obaveze klijenata
VIII NAČIN INFORMISANJA KLIJENATA O FINANSIJSKIM INSTRUMENTIMA Član 14. Društvo klijentima pruža informacije o finansijskim instrumentima, ugovorima o razlikama, elektronskim putem (putem aplikacije, sistema, e-mail-om, telefonom, i slično). Komunikacija između Društva i klijenta se odvija na najpogodniji način za klijenta u skladu sa relevantnim propisima.
Kada klijent komunicira s Društvom telefonski, razgovori se snimaju, a zapisi se čuvaju prema propisanim pravilima.
Društvo pruža informacije klijentima o finansijskim instrumentima, ugovorima o razlikama, u sljedećim slučajevima:
1. klijent je dostavio Društvu važeću elektronsku adresu; 2. klijent je odabrao takav način dostave informacija; 3. klijent je elektronskim putem obaviješten o adresi internet stranice Društva i mjestu gdje može da pristupi relevantnim podacima; 4.Društvo redovno obnavlja informacije, i 5. informacije Društva su neprekidno dostupne.
Informacije o finansijskim instrumentima sadrže opšti prikaz prirode i rizika karakterističnih za finansijske instrumente, ugovore o razlikama.
Sve informacije, uključujući i promotivne materijale, koje Društvo upućuje klijentima ili potencijalnim klijentima moraju biti istinite, jasne i ne smiju da dovode u zabludu, a isto je dozvoljeno samo ukoliko sadrže elemente i ispunjavaju uslove propisane Zakonom i relevantnim propisima.
IX VRSTE I ELEMENTI NALOGA KLIJENATA SHODNO USLUGAMA KOJE DRUŠTVO PRUŽA KLIJENTIMA
Član 15. Društvo nudi svojim klijentima sljedeće naloge:
Detaljnija objašnjenja vrsta i elemenata naloga klijenata data su u Politici izvršavanja naloga.
X NAČIN PRIJEMA I IZVRŠENJA NALOGA KLIJENATA, POSTUPAK, PRAVA I OBAVEZE DRUŠTVA I KLIJENATA
Član 16. Društvo prima naloge klijenata na jedan od sljedećih načina:
Prijem naloga telefonom definisan je odredbama Korisničkog uputstva za ispostavljanje naloga trgovanja putem telefona.
Nalog primljen u pisanom obliku je punovažan ukoliko je potpisan xx xxxxxx klijenta ili njegovog ovlašćenog zastupnika/punomoćnika.
Za potrebe naloga koje je klijent podnio Društvu, Društvo nastupa kao agent u ugovoru o razlikama (CFD ugovoru) u ime klijenta u svakom trenutku. Društvo navodi dvosmjernu cijenu za svaki ugovor o razlikama xxxx xxxx. Ova dvosmjerna cijena sastoji se od cijene ponude (niža cijena xxxx xx cijena po kojoj Klijent može “prodati” ugovor o razlikama i cijene tražnje (viša cijena xxxx xx cijena po kojoj Klijent može kupiti ugovor o razlikama. Razlika između cijene ponude i cijene tražnje za svaki ugovor o razlikam koji nudimo naziva se “maržom” (“spread”). Naš cilj je da ponudimo konkurente cijene ponude i tražnje, uključujući troškove naših usluga u marži. Cijene ugovora o razlikama su cijene koje su izvedene iz važeće i stvarne (“objavljene”) tržišne cijene osnovnih finansijskih instrumenata na relevantnim tržištima na kojima se trguje xxx osnovnim instrumentima, ili od ostalih važećih izvora podataka od trećih strana. Klijent potvrđuje i svjestan je da nalozi koje je poslao Društvu nisu preuzeti niti izvršeni na regulisanom tržištu ili multilateralnom sistemu trgovanja (MTF), već se izvršavaju neposredno (“OTC”) putem trgovačke platforme kojom Društvo raspolaže.
Trgovanje i izvršenje naloga je dostupno u toku određenih sati, kao što je navedeno na našoj platformi za trgovanje i xxxx xx naznačeno na veb stranici Društva. U okviru sati trgovanja, klijenti mogu unositi naloge za trgovanje.
Nakon postavljanja naloga, jedina odgovornost Klijenta xx xx xxxxxx na raspolaganju radi potvrde naloga i ostale komunikacije u vezi sa računom i nalozima sve dok svi otvoreni nalozi ne budu izvršeni. Nakon toga, Klijent xxxxx xx xxxxx svoj račun ukoliko ima otvorene pozicije na računu. Isključiva odgovornost Klijenta je da jasno navede uslove naloga kada ih unosi, bez obzira xx xx to tržišni nalog, limit nalog, stop loss nalog ili bilo koja druga vrsta naloga, uključujući i relevantnu cijenu i veličinu lota (paketa).
Prihvatanjem naloga Društvo ne garantuje da će iste biti moguće izvršiti, ili da će izvršenje biti moguće prema uputstvima.
Društvo nije dužno niti nadzirati ili izvršiti naloge van sati trgovanja relevantnog tržišta.
Klijent je isključivo odgovoran za nadgledanje izvršenja naloga koje je postavio. Kada Društvo daje ili prenosi naloge na izvršenje trećim licima za pružanje likvidnosti, subjektima koji raspolažu postupcima za izvršavanje naloga na način koji obezbjeđuje izvršavanje obaveza shodno zakonu i aktima Društva, dužno je da preduzme sve potrebne korake za dobijanje najboljeg mogućeg rezultata prilikom izvršavanja naloga Klijenta. Društvo je dužno da vodi evidenciju primljenih i izvršenih naloga (knjiga naloga) u skladu sa zakonskom regulativom I aktima Društva.
XI ROK ZA IZMJENU ILI OPOZIV NALOGA
Član 17.
U određenim slučajevima Društvo je dužno da otkaže Vaše naloge ili zatvori otvorene pozicije. Razlozi za navedeno su sljedeći:
Društvo ima pravo da po svom nahođenju mijenja kritični nivo margine.
XII NAČIN ISPUNJENJA OBAVEZA NASTALIH IZVRŠAVANJEM NALOGA KLIJENATA
Član 18. Društvo je dužno da kod kreditne institucije otvori račun za plaćanje klijenata xxxx xxxx biti odvojen od računa za plaćanje Društva. Sredstva koja Društvo drži u ime klijenta, tretiraju xx xxx sredstva klijenta, mogu se koristiti samo za plaćanje usluga i poslova koje Društvo obavlja za klijenata i ne smiju se koristiti za plaćanje obaveza drugog klijenta.
Društvo dužno je da na dnevnom nivou osigura da iznos novčanih sredstava klijenata bude minimalno jednak iznosu novčanih sredstava klijenata koji je evidentiran u internim evidencijama Društva.
Navedeni iznosi se usklađuju kroz dnevne obračune koji se moraju sprovesti do kraja sljedećeg radnog xxxx u odnosu na xxx za koji se obračun radi.
U slučaju da se dnevnim obračunom utvrdi da je iznos novčanih sredstava klijenat manji od iznosa novčanih sredstava klijenata koji je evidentiran u internim evidencijama Društva, a očigledno je da je utvrđena razlika posljedica pogrešnih ili nepotpunih evidencija, Društvo xxxx da obezbijedi dodatna novčana sredstva.
Društvo može da drži dodatna (vlastita) sredstva na računima na kojima su deponovana novčana sredstva klijenata kada procijeni da je isto potrebno radi zaštite imovine klijenata.
XIII NAČIN OBRAČUNA NAKNADA
Član 19. Klijent xx xxxxx da Društvu plati ugovorenu naknadu, kao i sve druge troškove shodno Tarifniku (Cjenovniku usluga) koji je javno dostupan na web stranici Društva.
Klijent je svjestan mogućnosti postojanja poreza, taksi i slično, a koji nisu nametnuti xx xxxxxx Društva, niti se preko nas plaćaju.
XIV POSLJEDICE NEIZVRŠAVANJA OBAVEZA, ODGOVORNOST DRUŠTVA PREMA KIJENTU
Član 20. Osim u slučaju prevare ili grube nepažnje, ni Društvo, ni direktori, xxxx xxxx ko od zaposlenih u Društvu, neće biti odgovorni za gubitke, štetu, troškove ili izdatke klijenta, I ovim putem se isključuje odgovornost u pogledu bilo kog gubitka, direktnog ili indirektnog, stvarnog ili potencijalnog.
Bez ograničenja, Društvo ne prihvata odgovornost u odnosu na bilo kakve nepovoljne poreske implikacije za bilo koju transakciju.
Društvo zadržava pravo da po sopstvenoj procjeni ne izvrši nalog, ili da promijeni nevedenu cijenu transakcije, ili da klijentu ponudi novu cijenu u slučaju tehničkog neuspjeha bilo koje elektronske trgovačke platforme ili u slučaju fluktuacije cijena osnovnog finansijskog instrumenta ugovora o razlikama. U slučaju nove cijene, Klijent ima pravo da istu prihvati ili odbije I time otkaže izvršenje transakcije.
Takođe, Društvo ne prihvata nikakvu odgovornost zbog efekta kašnjenja ili promjene tržišnih uslova, uključujući tržište cijena, uzrokovano bilo kojom transakcijom.
Društvo nema odgovornost u slučaju zatvoranja bilo koje otvorene pozicije klijenta koja podliježe zloupotrebi, ili otkazivanju bilo kojeg xxxxxxx ili gubitaka koji je rezultat takvih strategija.
XV SADRŽAJ I NAČIN VOĐENJA KNJIGE NALOGA
Član 21. Društvo vodi knjigu naloga u pisanoj ili elektronskoj formi, u koju su evidentirani nalozi kiijenata, izmjene i opozivi tih naloga.
Knjiga naloga se vodi na način da se bilježi vrijeme prijema naloga i izmjene unijetih podatakka.
Knjiga naloga sadrži: 1. ime, prezime/poslovno ime ili druga oznaka klijenta; 2. datum i tačno vrijeme prijema naloga; 3. izmjena i opoziv naloga; 4. identifikacionu oznaku finansijskog instrumenta; 5. cijenu finansijskog instrumenta; 6. količinu finansijskog instrumenta; 7. kupovnu/prodajnu oznaku; 8. vrstu naloga; 9. status naloga; 10.ostale pojedinosti, uslove i uputstva primljena od klijenta u vezi sa načinom izvršenja naloga.
XVI TAJNOST PODATAKA
Član 22. Društvo ne smije koristiti, odavati trećim licima niti omogućiti trećim licima korišćenje informacija koje se smatraju poslovnom tajnom, a naročito: - informacije o klijentima; -informacije o stanju i prometu na računima svojih klijenata, i - informacije o uslugama koje pružaju klijentima, ispostavljenim nalozima i zaključenim transakcijama. Informacije koje predstavljaju poslovnu tajnu se mogu stavljati na uvid i saopštavati trećim licima samo:
XVII ZAVRŠNE ODREDBE
Član 23. Detaljne informacije u vezi svakog pojedinog člana Pravila poslovanja Društva, date su u okviru mjerodavnih akata, koja su dostupna na internet stranici Društva, xxx.xxxxxxx-xxxxxxxxxx.xx.
Ova Pravila kao i njihove izmjene i dopune, stupaju na snagu danom donošenja.
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BUSINESS RULES
I General Provisions
Article 1 With these Rules, the Company, in accordance with the applicable legal and by-law regulations, regulates the general conditions and manner of the Company's operations and work, and in particular:
- types and description of work performed by the Company; - conditions for acquiring the status of a client of the Company; - basis for execution of investment and auxiliary services; - conditions for concluding and elements of contracts for the performance of investment and auxiliary services; - the Company's obligation to familiarize the client with the investment and auxiliary services it provides; - basic rights and obligations of the Company and clients; - way of informing clients about financial instruments; - types and elements of client orders according to the services provided by the Company to clients; - method of receiving and executing client orders, procedure, rights and obligations of the Company and clients; - deadline for changing or revoking the order; - the method of fulfilling obligations arising from the execution of client orders; - method of commission calculation; - the consequences of non-fulfillment of obligations, as well as the Company's responsibility for damage and losses to the client; - content and method of keeping the order book, i - confidentiality of data.
II TYPES AND DESCRIPTION OF WORK PERFORMED BY THE COMPANY
Article 2 The company, in accordance with Article 206 of the Capital Market Law, performs the following investment services and activities:
1. receipt and transmission of orders related to one or more financial instruments; 2. execution of orders for the client's account; 3. portfolio management; 4. investment consulting.
Article 3. The company also performs other auxiliary services from Article 206 paragraph 2 of the Law on the Capital Market, namely:
1. custody and administration of financial instruments for the account of clients, including custody services and related services, such as the management of funds and collaterals, and concerns: - opening and maintaining securities accounts with the CKDD in the name and for the account of the legal owners (proprietary account of clients); - opening an account for paying clients at a credit institution; - taking care of the execution of purchase and sale orders of clients' financial instruments.
2. foreign currency business services related to the provision of investment services.
Article 4 The Company performs the aforementioned investment services and activities on the basis of approval by the Commission and fully meets all personnel, organizational, technical equipment and other requirements in accordance with the Law and Rules that are necessary for the Company's activities. The company also fulfills all other requirements regarding business space, organization and functioning of the information system, accounting procedures, as well as measures to ensure business continuity. Article 5 The company provides investment services and performs investment activities for financial instruments, contracts for differences.
III REQUIREMENTS FOR ACQUIRING THE COMPANY'S CLIENT STATUS
Client identification Article 6 The Company's client can be domestic or foreign, natural or legal person. The identification of clients is carried out in accordance with the Law on Prevention of Money Laundering and Financing of Terrorism, and the acts of the Company that regulate the matter in question. Before establishing a business relationship, the client must be identified, which includes:
- determination of the client's identity, that is, if the identity has been previously established, identity verification based on credible, independent and objective sources; - collection of data about the client, i.e. if the data is collected, verification of the collected data based on credible, independent and objective sources.
When identifying the client, the following actions are taken:
- before establishing a business relationship or carrying out a transaction, the identity of the client and the identity of the real owner are determined and checked based on documents, data and information that can be used to establish the identity in an unquestionable and reliable way; - measures are taken that will enable verification and determination of the client's ownership structure and real control over the client in order to determine the identity of the client's real owner; -data and documentation are obtained and stored on the basis of which the client's identity and risk factor are determined; - the business relationship with the client is constantly monitored, including transactions during that relationship (whether the transactions correspond to the type of work and risks of the client and information about that client), and records are kept and documentation on the monitoring of the business relationship is kept; - if possible, and before establishing business cooperation with the client, the reasons why the client terminates contractual relations with another participant in the capital market are determined; - when performing transactions of an identified client, using technologies that do not involve direct contact, procedures are applied that enable prior verification of the authenticity and accuracy of transaction orders and the authenticity of their submitter.
As part of the verification and inspection of the client who is a legal entity, in addition to identification, the real owner of that legal entity is determined by implementing measures aimed at obtaining data for the natural person who is the real owner.
IV THE BASIS FOR PERFORMING INVESTMENT AND SUPPORT SERVICES
Article 7. After the successfully implemented client identification procedure in accordance with the regulations on the prevention of money laundering and financing of terrorism, through the Company's website xxx.xxxxxxx-xxxxxxxxxx.xx, there is a further procedure of client registration, at all levels of identification, up to the final selection of the type of Contract for providing investment and auxiliary services that the client concludes with the Company. Article 8. The client can conclude one of the following contracts with the Company: -Agreement on the provision of investment and auxiliary services; -Agreement on the provision of portfolio management services, i -Agreement on investment consulting.
V CONDITIONS FOR CONCLUSION AND ELEMENTS OF CONTRACT FOR PROVISION OF INVESTMENT AND SUPPORT SERVICES Article 9. A natural person, domestic or foreign, must be of legal age to be a client of the Company. Through the Company's website xxx.xxxxxxx-xxxxxxxxxx.xx, the client applies for identification. After successful completion of registration at all levels of identification, and by accepting the terms and conditions of our privacy policy, the client concludes the Contract with the Company, whereby the client, in addition to the contract, also accepts the provisions of all documents from the set of legal documents for Clients. By concluding the Agreement with the Company, the client irrevocably declares that he has understood and accepts all the risks related to derivative financial instruments, especially contracts for differences.
The elements of the contract for the performance of investment and auxiliary services are as follows: - personal data of the client (natural or legal person) prescribed by law; 2. statement that the client is familiar with the Rules of Business and the Tariff (Price List of the Company's Services); 3. statement on the appropriateness of the transaction; 4. unambiguous description of the subject of the Agreement; 5. an identification code or other identification instrument that serves the purpose of checking each order, and which may only be known to the Company and the client, that is, to authorized persons of the client; 6. the method of submitting the order and the method of identification or the method of checking the identification code; 7. way of terminating the contract; 8. the method of resolving potential disputes, i.e. determining the court competent for potential disputes, i 9. date of conclusion of the contract and signature of the contracting parties.
VI OBLIGATION OF THE INVESTMENT COMPANY TO INFORM THE CLIENT OF THE INVESTMENT AND SUPPORT SERVICES IT PROVIDES
Article 10 The company is obliged to introduce existing and potential clients to the investment and auxiliary services it provides, to provide detailed information on the characteristics and risks of financial instruments, contracts for differences, appropriate to the client's categorization, which will enable the client to make an appropriate investment decision. Information on the risk of investment of funds shall in particular include: 1) risks associated with the type of financial instrument, including clarification of financial leverage and its performance, as well as the risk of investment loss; 2) volatility of the price of the financial instrument and possible restrictions on the existing market for those instruments; 3) financial and other additional obligations of the investor in case of transaction with those financial instruments; 4) margin data and other obligations related to the financial instrument.
The languages of communication are English and Montenegrin. The Company can communicate with clients - foreign legal or natural persons in another foreign language provided for in the contract, provided that the contract, orders and other necessary documentation that the client exchanges with the Company are drawn up bilingually.
The Company enables clients and potential clients to view the general acts and all other documents through the Company's website, xxx.xxxxxxx-xxxxxxxx.xx, in Montenegrin and English.
The Company shall notify the client of any significant change in the provided information, via a permanent medium or in a manner determined by the Agreement.
The company provides investment services and performs investment activities with a financial instrument, a contract for differences, in accordance with the provisions of the Law and relevant regulations. When providing and performing investment services and activities, the Company is obliged to perform tasks in accordance with: 1. the principle of solvency, i.e. that it is permanently capable of meeting all its financial obligations, i.e 2. the principle of liquidity, i.e. that it fulfills its due financial obligations in a timely manner at all times.
Article 11. The company can entrust another person with tasks related to: -Marketing services; -Receipt of order, i -Order execution.
When entrusting the aforementioned tasks to another person, the Company takes special care of: the knowledge, abilities, means and professionalism of the other person to whom the tasks are entrusted.
The company concludes a contract with the person to whom it entrusts the performance of the aforementioned tasks, which precisely defines the rights and obligations of both contracting parties in order to avoid risks and ensure the quality performance of obligations.
VII BASIC RIGHTS AND OBLIGATIONS OF THE COMPANY AND CLIENTS Article 12. Basic rights and obligations of the Company
Society has the right to: refuses to establish a business relationship with the client; terminate an already established relationship (in the case of old clients); does not accept the client's deposited funds, i cancel all deposits and return them back. in the following areas:
- if the client does not submit the required documents for the purpose of identification, including the verification of the legality of the funds; - if he suspects that the submitted documents are fake or falsified; - if he suspects that the client is involved in illegal business; - if the Company is notified that the client's credit or debit card (or any other payment method) is lost or stolen; - in accordance with the reasonable judgment of the Company, in order to comply with applicable laws and regulations.
The Company has the right, during trading, to set limits and/or parameters to control the client's ability to place orders.
Before concluding the Agreement, the Company is obliged to collect information about the client, about his knowledge and experience in the investment field that is important for the financial instrument or service that is offered or requested, in order to assess the extent to which that financial instrument or service is appropriate for the client.
The company is obliged to inform the client that he can request a change in the contractual conditions in order to achieve a higher level of protection.
From the aspect of order execution, the company takes all necessary steps to obtain the best possible result when executing client orders, i.e. to provide the best possible total price for clients (including costs) in the shortest possible time. The Company is obliged to adhere to the measures and procedures prescribed by the Conflict of Interest Management Policy when determining and preventing illegal actions (conflict of interest, unauthorized own transactions, misuse of privileged information, disclosure of business secrets) that may occur during the provision of services from the Company's activities. The Rulebook on Business Secrets, which form an integral part of these Rules.
Article 13. Basic rights and obligations of clients
The client has the right to have access to all relevant acts and information necessary for making an investment decision via the Company's website.
The client has the right to protection against negative balance ("negative balance protection"), which means that he cannot lose more funds than he has invested, that is, his loss can never exceed his capital value.
The client has the obligation to ensure that the device through which he trades with the Company or accesses the trading platform is not left unattended or used by a third party.
The client is obliged to pay the Company the agreed fee, in accordance with the Company's Tariff (Service Price List), as well as all other costs (clearing and balancing, interest, etc.).
VIII METHOD OF INFORMING CLIENTS ABOUT FINANCIAL INSTRUMENTS Article 14. The company provides clients with information about financial instruments, contracts for differences, electronically (via the application, system, e-mail, phone, etc.). Communication between the Company and the client takes place in the most convenient way for the client in accordance with the relevant regulations.
When the client communicates with the Company by telephone, the conversations are recorded, and the records are kept according to the prescribed rules.
The company provides information to clients about financial instruments, contracts for differences, in the following cases:
1. the client provided the Company with a valid electronic address; 2. the client has chosen such a method of information delivery; 3. the client has been informed electronically about the address of the Company's website and the place where he can access the relevant data; 4. The company regularly updates information, i.e 5. Company information is continuously available.
Information on financial instruments contains a general description of the nature and risks characteristic of financial instruments, contracts for differences.
All information, including promotional materials, that the Company sends to clients or potential clients must be true, clear and must not be misleading, and the same is allowed only if they contain elements and meet the conditions prescribed by the Law and relevant regulations.
IX TYPES AND ELEMENTS OF CUSTOMER ORDERS ACCORDING TO THE SERVICES PROVIDED BY THE COMPANY TO CUSTOMERS
Article 15. The company offers its clients the following accounts:
-Market order, with which the client trades in a certain volume, in the shortest possible time, at the market price; -An order in processing, with which the client executes a trade at a market price that may be different from the price of the order; -Limit order, with which the client determines the price of order execution, that is, the maximum price at which he will buy and the minimum price at which he will sell a financial instrument, contract for differences; -Good till cancelled, GTC order is an order in processing that remains valid forever except in the case when the Client or the system cancels it due to insufficient funds; -A stop order allows selling below the current market price or buying above the current market price if the stop price is reached or removed. Therefore, a stop order represents an order in processing until the stop price is reached or crossed, and -Trailing stop order for difference that is activated at a fixed distance basis from the market price.
More detailed explanations of the types and elements of client orders are given in the Order Execution Policy.
X METHOD OF RECEIVING AND EXECUTING CUSTOMER ORDERS, PROCEDURE, RIGHTS AND OBLIGATIONS OF THE COMPANY AND CUSTOMERS
Article 16. The company accepts client orders in one of the following ways:
- on the electronic trading platform, - by telephone; - by mail, i - at the headquarters of the Company.
Acceptance of orders by phone is defined by the provisions of the User's Guide for issuing trading orders by phone.
An order received in writing is valid if it is signed by the client or his authorized representative/attorney.
For the purposes of orders submitted by the client to the Company, the Company acts as an agent in the contract for differences (CFD contract) on behalf of the client at all times. The Company quotes a two-way price for each CFD it offers. This two-way price consists of the bid price (the lower price which is the price at which the Client can "sell" the CFD) and the ask price (the higher price which is the price at which the Client can buy the CFD. The difference between the bid price and the ask price for each contract for difference we offer is called a “spread.” Our goal is to offer competitive bid and ask prices, including the cost of our services in the margin. Prices of contracts for differences are prices derived from the valid and actual ("published") market price of the underlying financial instruments on the relevant markets where those underlying instruments are traded, or from other valid data sources from third parties. The Client confirms and is aware that the orders he sent to the Company are not taken or executed on a regulated market or multilateral trading system (MTF), but are executed directly ("OTC") through the trading platform available to the Company.
Trading and order execution is available during certain hours, as specified on our trading platform and as indicated on the Company's website. During trading hours, clients can enter trading orders.
After placing an order, the Client's sole responsibility is to remain available for order confirmation and other communication related to the account and orders until all open orders have been executed. After that, the Client should monitor his account if he has open positions on the account. It is the Client's sole responsibility to clearly state the terms of the order when entering it, regardless of whether it is a market order, limit order, stop loss order or any other type of order, including the relevant price and lot size.
By accepting an order, the Company does not guarantee that it will be possible to execute it, or that execution will be possible according to the instructions.
The Company is not obliged to monitor or execute orders outside the trading hours of the relevant market.
The client is solely responsible for monitoring the execution of orders placed by him. When the Company gives or transfers orders for execution to third parties to provide liquidity, to entities that have procedures for order execution in a way that ensures the fulfillment of obligations in accordance with the law and the Company's acts, it is obliged to take all necessary steps to obtain the best possible result when executing the Client's order. The Company is obliged to keep records of received and executed orders (order book) in accordance with the legal regulations and the Company's acts.
XI DEADLINE FOR MODIFICATION OR REVOCATION OF ORDERS Article 17. Orders will not be monitored or executed outside of trading hours. The execution price of the underlying instruments that are traded outside our trading hours may differ significantly from the indicated order price due to changes in the market that occurred before our trading hours.
Change pending order The client has the possibility to modify the pending order before its execution, including Stop Loss and Take Profit. However, the order in processing cannot be changed or removed if the price has reached the level for order execution. Pending orders cannot be changed outside of certain trading hours.
Canceling trades and closing positions In certain cases, the Company is obliged to cancel your orders or close open positions. The reasons for the above are as follows:
Margin for maintaining and closing orders Order Maintenance Margin refers to the minimum amount of capital (i.e. funds) required to be maintained in an account with the Company in order to keep client positions open, and this is commonly referred to as the "maintenance requirement" or "minimum maintenance margin". For each margin amount less than the "minimum maintenance margin", the client's open positions will begin to be liquidated, without any prior notice, starting from the position with the largest losses. Therefore, clients are required to maintain this level of necessary funds at all times and thereby ensure that positions are open. Clients must continuously monitor all open positions in order to avoid closing positions due to lack of funds in their account. The company has the right to change the critical margin level at its discretion.
XII METHOD OF FULFILLING OBLIGATIONS ARISING FROM EXECUTION OF CUSTOMER ORDERS
Article 18. The Company is obliged to open a customer payment account with a credit institution, which must be separate from the Company's payment account. Funds that the Company holds on behalf of the client are treated as client funds, they can only be used to pay for services and work that the Company performs for clients and may not be used to pay the obligations of another client.
The Company is obliged to ensure on a daily basis that the amount of clients' funds is at least equal to the amount of clients' funds recorded in the Company's internal records.
The stated amounts are reconciled through daily calculations that must be carried out by the end of the next working day in relation to the day for which the calculation is made.
In the event that the daily calculation determines that the amount of the client's funds is less than the amount of the client's funds recorded in the Company's internal records, and it is obvious that the determined difference is the result of incorrect or incomplete records, the Company must provide additional funds.
The Company may keep additional (own) funds on accounts where clients' funds are deposited when it deems that the same is necessary for the protection of clients' assets.
XIII METHOD OF CALCULATING FEES
Article 19. The Client is obliged to pay the Company the agreed fee, as well as all other costs in accordance with the Tariff (Service Price List), which is publicly available on the Company's website.
The client is aware of the possibility of taxes, fees and the like, which are not imposed by the Company, nor are they paid through us.
XIV CONSEQUENCES OF FAILURE TO FULFILL OBLIGATIONS, THE COMPANY'S LIABILITY TO THE CLIENT
Article 20. Except in cases of fraud or gross negligence, neither the Company, nor the directors, nor any of the Company's employees, shall be liable for any losses, damages, costs or expenses of the client, and liability in respect of any loss, direct or indirect, is hereby excluded. , real or potential.
Without limitation, the Company accepts no liability with respect to any adverse tax implications of any transaction.
The Company reserves the right not to execute the order at its own discretion, or to change the unknown price of the transaction, or to offer the client a new price in case of technical failure of any electronic trading platform or in case of price fluctuation of the underlying financial instrument of the contract for differences. In the case of a new price, the Client has the right to accept or reject it and thereby cancel the execution of the transaction.
Also, the Company does not accept any responsibility for the effect of delay or change in market conditions, including market prices, caused by any transaction.
The Company shall not be liable in the event of the closing of any open client position subject to abuse, or the cancellation of any profits or losses resulting from such strategies.
XV CONTENT AND METHOD OF KEEPING THE ORDER BOOK
Article 21. The company maintains an order book in written or electronic form, in which customer orders, changes and revocations of those orders are recorded. The order book is kept in such a way that the time of receipt of orders and changes to entered data is recorded.
The order book contains: 1. name, surname/business name or other designation of the client; 2. date and exact time of order receipt; 3. modification and revocation of the order; 4. identification mark of the financial instrument; 5. the price of the financial instrument; 6. amount of financial instrument; 7. purchase/sale mark; 8. type of order; 9. order status; 10. other details, conditions and instructions received from the client in connection with the execution of the order.
XVI DATA CONFIDENTIALITY
Article 22. The company may not use, disclose to third parties or enable third parties to use information that is considered a business secret, and in particular: - information about clients; - information on the balance and turnover on the accounts of its clients, i - information about services provided to clients, orders placed and transactions concluded. Information that constitutes a business secret can be made available for inspection and communicated to third parties only: with the written consent of the client; during supervision carried out by the Commission, the Central Registry or the market organizer; on the basis of a court order; on the basis of the order of the authority dealing with the prevention of money laundering or terrorist financing; based on the order of another competent state authority.
XVII FINAL PROVISIONS
Article 23. Detailed information regarding each individual article of the Company's Business Rules is provided in the relevant acts, which are available on the Company's website, xxx.xxxxxxx-xxxxxxxxxx.xx.
These Rules, as well as their amendments, enter into force on the date of adoption.
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XXXXXXX
SECURITIES AD PODGORICA
Address: Xxxxxx xxx 00 – XX Xxxxxxxx, 00000 Xxxxxxxxx, Xxxxxxxxxx
Tel: x000 00 000000, E-mail: xxxx@xxxxxxx-xxxxxxxxxx.xx
Tax number: 00000000 IBAN: XX00000000000000000000