DTC FX Customer Agreement
DTCFX 客户协议
DTC FX Customer Agreement
客户协议书 Customer agreement
这是DTC Commodity Limited 与您之间的协议。在本“客户协议”中，DTC Commodity Limited 被称为作为“DTC”或“我们”。“你”或“客户”一词指任何自然人或法人，包括但不限于与DTC 开立客户账户相关的法人团体，信托或合伙企业。客户协议概述了适用于DTC 开立和运营保证金外汇和/或贵金属交易账户的条款和条件。
DTC xx建议您仔细阅读本客户协议。 如果您有任何疑问，请致电我们，我们将与您一起审核材料。 要打开您的账户，与账户关联的每个所有者都必须签署此软件包中包含的应用程序，并且您应该将完成的应用程序邮寄到 DTC。
本客户协议，包括外汇风险披露，附加风险披露本合同属于本合同一部分的声明、外汇交易规则和规定。拜托在签署
申请前仔细阅读所有资料。你也必须签署确认书。指示页面。要开立账户，我们必须接收所有适用的已完成和签署的页面。你应该保留这些材料的副本作为你的记录。
本客户协议包括DTC 风险披露声明，附加风险披露声明以及作为本合同一部分的DTC 交易规则和规定，是一份法律合同。 在您签署申请之前，请仔细阅读所有材料。 您必须在指示的地方的页面签署明确。 开立账户我们必须收到所有适用的已完成和签名的页面。
您应保留这些材料的副本以供记录。
考虑到 DTC 为下面签名的客户开立一个或多个账户,并同意与您作为我们的客户进行场外保证金外汇和/或贵金属交易，您同意如下
1.引言
x客户协议规定了您在DTC 账户的条款和条件，以及通过 DTC 账户进行的所有合同和其他交易。本客户协议包括并构成客户协议、所附风险披露声明和贸易规则及规章的组成部分，所有内容不时修订，所有对本客户协议的条款和条件的提及，包括条款包括《风险披露声明》和《交易规则和规章》是本客户协议的一部分。如果通过签署所需的签名页接受本客户协议，则应将完成的客户协议签名页邮件发送至：xxxx@xxxxx.xxx
请注意，除非风险披露文件、附加风险披露文件（如适用）以及《交易规则和规章》的签署确认页与账户申请的签署页一起签署，否则账户将不会开立。
如果客户或潜在客户选择不按DTC 的要求提供所有足够的信息，该决定将阻止DTC 确定本协议中设想的服务是否适合客户，因此DTC 将不能为为潜在客户开立账户。
2.许可
DTCC Derivatives Repository Ltd 受英国金融行为监管局（FCA）监管，监管号 526490。该牌照授权DTC 自行处理与下列有关的零售客户、专业客户（不包括集体投资计划）和下列文书有关的合格对手：
-期权、期货、掉期、远期利率协议以及与证券、货币、利率或金融衍生品有关的任何其他衍生合同收益或其他衍生工具、金融指数或金融措施，可以实物结算或现金结算。
-期权、期货、掉期、远期利率协议以及与必须以现金结算的商品有关的任何其他衍生品合同，或可以在一方当事人的选择下以现金结算（除非由于违约或其他终止事件）。
-根据差价合约或任何其他合同享有的权利，其目的或意图是通过参照任何说明的财产价值或价格的波动，或参照公司为此目的指定的指数或其他因素，确保利润或避免损失不存在。
-为投资目的而取得或持有的外汇。
DTC 将维持现货货币对的流动价格，包括但不限于美元瑞郎、英镑美元、欧元美元、美元日元、澳元美元，美元加元，欧元英镑，欧元瑞郎，欧元日元，英镑日元，欧元澳元，美元兑日元，瑞郎日元，欧元加元，澳元加元，澳元日元，
纽元美元，澳元纽元，加元日元，黄金，白银、原油。DTC 也将现货交易贵金属（金银）合约。当所有货币成对交易时，贵金属单独交易。没有货币或贵金属交货，全部用现金结算。
3.定义和常用贸易术语
客户应阅读并熟悉DTC 术语词汇。
4.客户协议的范围
DTC 与客户之间的所有交易和所有合同，均应遵守客户协议的条款约束。以及 DTC 的交易规则和条例或 DTC 附加时间表或条款的条款，这些条款可能不时地被阐明，或者经 DTC 修改，并在DTC 的网站上发布后构成本客户协议的完
整条款。此外，本客户协议下的所有交易均应遵守交易对手机构或其他银行间市场（及其清算组织）的章程，章程，规则，法规，惯例，使用，裁决和解释。执行和所有适用的联邦和州法律和法规。此后，如果制定了任何规例或规则或条例， 则应在 DTC 上具有约束力和强制性，并应以任何方式影响或与本条款的任何规定不一致，该客户协议的受影响条款应
视为修改。根据具体情况，由该法规、规则或规章的适用条款以及本客户协议的所有其他条款和如此修改的条款予以修改或取代，应在所有方面继续充分有效。客户承认本客户协议项下的所有交易都受上述要求的约束，因此客户不应该被赋予与上述要求有关的任何独立的法律或合同权利。
如果DTC 雇用的授权人员明确接受此类提议，补充或修改的书面协议，则对本客户协议的任何提议，增补或修改均无效且无效。
本客户协议涉及并延伸至客户与 DTC 之间潜在的交易关系，即场外结算基础上的非场外交易货币和贵金属，如国际银行间市场通常所述，以及本协议的所有其他条款尽管如此。 客户同意，理解并保证客户与DTC 之间的交易关系不得随时延伸至交易，安排与任何交易所上市商品期货或期权合约相关的交易、安排交易、经纪或咨询，并且仅限于许可证涵盖的服务和工具。
客户接受并同意客户的订单将在交易所，受监管的市场或多边交易设施（MTF）之外执行。
根据本客户协议的条款和条件，完全完成账户设置要求并接受客户的申请在DTC 开立账户，DTC 将以客户的名义开 立和维护账户，与货币市场中的客户进行即期结算交易，并提供此类其他服务和产品，DTC 将来可自行决定提供。 除非另有书面说明，否则DTC 与客户之间订立的所有合约及其他交易均受本客户协议条款的约束，包括风险披露声明、附加风险披露声明及 DTC 交易规则及条例，并在所附范围内，并不时修订。
5.风险确认
客户承认并理解杠杆式场外交易外汇合约的交易和投资具有极高的投机性，涉及极高的风险，并且是普遍适用的只适用于承担超过保证金存款风险的人。客户理解，由于在外汇和贵金属交易中通常可获得的低利润/高杠杆，外汇和贵金属合约的价格变化可能导致重大损失。这种损失可能大大超过客户的投资和保证金存款。客户指示 DTC 签订任何外汇和贵金属合约，任何因汇率波动而导致的利润或损失将全部由客户的账户承担风险，所有初始及后续保证金存款应以美元计算。DTC可自行决定要求; DTC 被授权以 DTC 根据当时的根据当时的货币市场汇率，将客户账户中的资金转换为此类外币的保证金。规避货币市场利率。客户保证客户愿意并且能够在财务和其他方面承担外汇和/或贵金属交易的风险。考虑到 DTC 携带他/她的账户，客户同意不会让 DTC 对通过遵循其交易建议或建议其高级职员，员工，代理人或代表的建议所造成的损失负责。客户认识到不能保证利润或免于损失，也无法预测外汇和贵金属交易业绩。客户承认，客户没有从 DTC 或其代表、任何介绍经纪人或其他实体那里得到此类担保，客户正在与其建立 DTC 账户，也没有考虑或依赖任何此类担保或类似的xx而签订本客户协议。所有的客户账户进行的交易以及客户账户中合同的市场价格的所有波动都是由客户承担风险的，因此，在任何情况下，客户都应承担全部责任。客户声明并保证客户愿意并在财务上有能力承受这种损失，并保证现货外汇(货币)和/或贵金属的交易是客户的适当投资工具。DTC 不对任何在线的（电子）交易平台或任何通信设施或其他超出 DTC 合理直接控制的原因造成的延误或部分或全部故障负责。客户理解并认识到，根据本客户协议进行的交易不是在受监管的市场或交易所进行的。客户表示，他/她知道场外外汇(货币)和(或)贵金属交易所固有的风险，并在财务上能够承担这些风险并承受所遭受的任何损失。(关于外汇和贵金属交易风险的进一步讨论，请参阅风险披露表和附加风险披露表
6.客户的xx、保证和确认
6.1 自本合同签订之日起，客户账户中的每一项合同和其他交易的日期，以及任何 DTC 风险披露报表、附加风险披露报表或交易规则和条例被修订、更新或修改的日期，客户代表并向 DTC 保证以下各项，并同意以下为 DTC 的利益。
(a)客户心智健全，法定年龄（年满 18 岁）和法律能力。
(b)客户(如果不是自然人)根据其组织的管辖权的适用法律被适当地组织和有效存在。
(c)客户协议和本合同所设想的所有合同及其他交易的执行和交付，以及本客户协议所设想的所有义务的履行，以及本协议所设想的所有合同和其他交易，均经客户正式授权。
(d)代表客户执行和交付本客户协议以及本协议项下的所有合同和其他交易，或代表客户履行本客户协议下的任何义务以及本协议项下的任何合同和其他交易，已得到客户的正式授权。
(e)由客户执行并交付本客户协议以及本协议项下的所有合同和其他交易，履行本客户协议项下预期的所有客户义务以及本协议项下的任何合同和其他交易，不违反任何法规，规则和法规适用于客户的条例，章程，细则或政策。
(f)客户拥有客户账户的全部实益所有权。在未经 DTC 事先书面同意的情况下，客户在 DTC 账户中的担保权益(在此授予 DTC 的担保权益除外)，客户没有授予也不会授予。客户对以下进一步定义的所有担保物拥有全部实益所有权，未经DTC 事先书面同意，不会将任何担保物的任何担保权益授予任何人(本合同授予 DTC 的担保权益除外)。
(g)客户将执行和交付所有文件，发出所有通知，提交所有文件，并采取 DTC 认为有必要或适宜的其他行动，以证明或完善任何有利于DTC 的担保权益，或保护DTC 在任何抵押品方面的利益。
(h) 客户特此保证，不论其后作出任何相反的决定，客户均可根据情况买卖外汇和/或贵金属进行交易。
(i)客户已阅读并理解本客户协议中包含的风险披露声明和附加风险披露声明(如适用)。客户将审查DTC 的风险披露， 包括(但不限于)每次修改DTC 风险披露声明和附加风险披露声明(如适用)。客户不会影响客户账户中的任何开立交易，除非客户理解DTC 修改后的风险披露，并且客户同意，在执行任何开户交易时，客户被视为已阅读并理解了
DTC 在开启交易时有效的修改后的风险披露。
(j)客户已阅读和理解本客户协议所载的交易规则和条例，包括但不限于 DTC 的交易规则和条例。每次修改 DTC 的交易规则和规则时，客户都会检查它们。客户不会影响客户账户中的任何开立交易，除非客户理解 DTC 修订的交易规则和条例，并且客户同意，在进行任何开放交易时，它被视为已阅读和理解DTC 的修订交易规则和条例。
(k)客户使用 DTC 的演示交易平台或 DTC 提供的其他平台进行模拟交易，这一期间使客户能够充分了解 DTC 互联网交易平台或 DTC 等其他平台，用于即期外汇和/或贵金属实时交易的在线交易。
(l)客户向DTC 提供的所有信息，包括有关客户交易经验和投资复杂性的信息，都是真实、正确和完整的，客户将及时书面通知DTC 此类信息的任何更改。
(m)客户声明并保证在本文件中向 DTC 披露的财务信息准确反映了客户当前的财务状况。客户声明并保证在确定客户的净值时，会仔细计算资产和负债，然后从资产中减去负债，以确定客户在财务信息中包含的净值。客户声明并保证在确定资产价值时，客户包括现金和/或现金等价物，政府和有价证券，拥有的房地产（不包括主要住宅），人寿保险的现金价值和其他有价值的资产。客户声明并保证在确定资产价值时，客户包括现金和/或现金等价物，政府和有价证券，拥有的房地产（不包括主要住宅），人寿保险的现金价值和其他有价值的资产。客户声明并保证在确定负债价值时，客户包括但不限于应付银行的票据（有担保和无担保），应付给亲属的票据，应付房地产抵押（不包括主要住所）和其他债务。客户声明并保证，在确定客户的流动资产时，客户仅包括可以快速（在一天内）转换为现金的资产。客户声明并保证客户非常仔细地考虑了客户认为是风险资本的部分资产。客户认识到风险资本是客户愿意承担风险的金额，如果丢失则不会以任何方式改变客户或其家人的生活方式。如果客户的财务状况发生变化，以减少客户的净资产、流动资产和/或风险资本，客户同意立即以书面通知DTC。
(n)根据法律规定的制裁，客户证明：(1) 本客户协议上显示的号码是正确的社会保障或纳税人身份号码；（2）根据英国国内税法，该账户的所有权或受益人不受备份扣缴。
(0)客户承认，如果客户的电子邮件地址发生变化，或在提供电子记录的其他地点，客户有义务立即以书面通知 DTC。客户承认，如有必要，客户有义务书面通知DTC 提供纸质记录的地址或其他地点。
(p) 客户遵守客户所适用的所有法律，包括但不限于所有税法和法规，外汇管制要求和登记要求。
6.2 对于 DTC 根据本协议提供的合同和/或服务而直接或间接产生的任何税务责任，DTC 概不负责就此向客户提供建议。
7.客户分类与投资者补偿方案
7.1 DTC 将每个客户归类为零售客户、专业客户或合格的对手方，并根据金融服务管理局发布的投资服务规则的有关规定，将相关类别分类通知客户。客户有权要求不同的客户分类。如果DTC 收到这样的请求，客户将被告知它接受这种重新分类或其他方式，在接受它将带来的后果的情况下。但是，在DTC 收到这样的请求并将其接受与否通知客户之前，客户应根据原始分类进行处理。
7.2 如果客户被归类为专业客户或合格的交易手对，DTC 将认定客户拥有：
(1)评估特定工具和/或服务是否适合满足客户投资目标所需的经验和知识水平； (2)必要的经验和知识水平，以便了解与这些特定工具和/或服务有关的风险； (3)能够有能力在财务上承担与客户投资目标的任何相关投资风险。
7.3 DTC 为由金融管理局指定的管理委员会管理的投资者补偿计划贡献。它是需要注意的是，赔偿只能由被归类为零售客户的客户索赔，除其他外，不得基于以下方式提出索赔：
(1)市场变动导致投资价值下降； (2)投资咨询不善；
(3)已执行的投资失败； (4)通货膨胀；
(5)降低利率
(6)通信中断或故障
7.4 如果客户被归类为专业客户或合格的对手方，客户应该知道，客户将无权获得向零售客户或专业客户(分别)提供的某些保护，除其他外，包括投资者赔偿计划和在客户与DTC 打交道过程中披露特定信息。
7.5 DTC 可能需要提供某些与客户有关的信息，供监管方代表不时检查，以履行其许可证义务。
8．外国账户
任何 DTC 的客户可能会被要求遵守任何适用的政府或管理机构或任何其他具有管辖权的类似机构的特别要求。此外，还可能要求 DTC 向适用的政府或管理机构提供有关客户账户的信息。客户不对此类查询作出答复可能导致立即禁止客户账户的交易，但对现有未结算头寸的抵消交易除外。DTC 还保留应任何政府、监管或类似机构的请求清算未结头寸的权利，并按照这些机构的指示履行其他职责。所有在 DTC 的外国账户必须复制和转发正式的图片 ID 形式(即护照)，并在客户获准交易之前提供银行参考资料。
9.客户资金
当客户通过 DTC 存款时，根据适用的 MFSA 保护客户资金的规则和条例，这通常会与DTC 的资金分开，除非DTC
就保证金要求持有此类资金。客户承认在分离的客户账户中持有资金可能无法提供完全的保护。
所有客户资金将存放在位于欧洲经济区，瑞士或英国的授权信贷机构或银行的客户账户中。客户的权利可能会受到影响，甚至会受到损害，具体取决于客户的资产所在的司法管辖区。
客户确认并同意客户在DTC 上持有的任何存款/或任何其他资产/不得产生有利于客户的利息。
当客户在任何特定时间与DTC 签订一份或多份合同时，DTC 持有的任何款项将转移至DTC，以确保客户对 DTC 的实际或潜在义务作为该合同的对方，阶段以及特定客户可能与 DTC 签订的任何待处理合同的期限，此类资金不会与 DTC 的资金分开，特定客户将被列为DTC 的一般债权人。
客户接受并特此授权 DTC 根据客户的 DTC 账户提取款项，以便结算客户可能不时向DTC 支付的任何费用和/或费用。
10．交易
（a）客户账户交易授权
根据本客户协议的条款和所有相关协议，包括风险披露声明，附加风险披露声明和 DTC 的交易规则和规章，关于 EMIR风险缓解程序的确认，客户账户申请及其任何适用的附录，客户授权DTC 根据客户通过 DTC 向客户提供的互联网交平台收到的电子、书面或口头指令，以现货结算方式为客户账户输入、购买、出售和清算场外交易和/或贵金属合约，或直接致电 DTC 交易执行台，或通过 DTC 批准供客户使用的任何其他可用通讯方式。
客户同意对 DTC 通过 DTC 批准的互联网交易平台以电子方式或通过电话或通过DTC 批准供客户使用的任何其他可 用通信方式收到的任何交易指示负责。 在执行交易之前，DTC 将要求客户至少通过登录程序以电子方式提供用户名和密码授权，或者通过电话联系，通过身份识别程序口头提供。正确的信息将对客户进行身份验证，并允许客户在授权的 DTC账户中进行交易以进行该身份验证。
（b）价格信息
DTC 将通过打电话给 DTC 交易执行服务台，或通过任何其他可供 DTC 及其客户使用的通信方式，出价和询问 DTC准备与授权客户签订外汇和贵金属合同的价格。每个买入价或卖出价应为具有指定价值日期的现货合约以及特定外汇对或贵金属（视情况而定）。DTC 不作任何保证，表示或暗示所示的买入价和卖出价代表银行间市场的现行买入价和卖出价。此外，虽然DTC 合理地期望在营业时间内提供连续价格，但由于许多因素，包括但不限于技术故障，通信系统延迟，由于缺乏银行间流动性或市场波动性较大，DTC 不保证交易价格和流动性将通过电子方式或通过电话或任何其他通信设备持续提供给客户。
（c）执行订单
客户与 DTC 之间签订的所有合同将由 DTC 作为委托人签订。DTC 将根据客户的电子、书面或打字或口头指示，合理地尝试执行其完全可以酌情接受的购买或销售合同的所有订单。DTC 将合理地尝试执行所有订单，以便其能够自行决定地从客户那里接受购买或销售合同根据客户的电子、书面或打字或口头指示。然而，DTC 不应对任何责任负责。由于超出DTC 的合理直接控制范围的任何事件、行为或疏忽而直接或间接造成的损失或损害，包括但不限于直接或间接由于订单和/或信息，由于任何传输或通信设施的故障或故障。但是，DTC 不应对由 DTC 的合理直接控制以外的任何事件、行为或遗漏直接或间接造成的任何损失或损害负责，包括但不限于直接或间接地造成的损失或损害。由于任何传输或通信设备的故障或故障而导致的订单和/或信息的不准确。
客户确认、理解并同意所有市场订单和非市场订单，如限价订单、止损订单由 DTC 代表发送和接受的订单、一个取消其他订单或任何其他非市场订单，包括 DTC 接受并根据经修订和并不时修订的《交易易规则及条例》的有关规定执行。然而，客户承认，由于市场条件或其他情况，DTC 可能无法在市场或指定级别执行订单，并且客户同意 DTC 将不承担不执行此类订单的责任。这包括但不限于在周末或假日期间因业务而关闭 DTC 的所有订单。在这种情况下，一旦市场在下一个 DTC 营业日重新开放，订单将被执行。客户承认，由于订单、市场状况、市场流动性、价格差距或其他情况的不xx，执行可能不会立即执行或以开盘水平决定的价格执行。DTC 不应对因通信设施中断、市场状况、故障或故障而延迟发送订单负有责任，也不应对因其疏忽而向任何人或实体提出的任何索赔、损失、损害、费用或费用，包括律师费，承担任何责任。
(d)头寸和订单限制
DTC 保留唯一的酌处权，以限制客户可进入、获取或维持与DTC 的未结算头寸；拒绝接受客户输入的任何订单，或改变其与客户的交易关系，以包括或排除以任何方式和任何方式使用任何电子交易网络或其他交易执行方法。
(e)净额
DTC 的政策是立即(合计)所有货币的购买和销售，包括对同一货币的开放式买入头寸和空仓。货币对的任何单一累计头寸，如果在特定 DTC 工作日结束前未清算，则前滚至下一个即期日期(见第 14 节)。
（f）抵消指示
DTC 可以自行决定是否接受或拒绝订单，以抵消客户的现货货币头寸。DTC 保留拒绝接受任何订单或保证市场被抵消的权利。到结算日期的现货货币头寸的抵消安排必须在结算日期或延期之前至少一个(1)个 DTC 营业日由DTC 协商和接受。
（g）信用
客户授权DTC 或代表DTC 行事的代理人调查客户的信用状况，并与DTC 认为适当的银行、金融机构和信贷机构联系，以核实和获取有关客户的信息。客户还授权 DTC 调查客户目前和过去的投资活动，并就此联系 DTC 认为适当的期货交易商、交易所、经纪人/交易商、投资服务提供商、银行和合规数据中心。应客户向 DTC 提出的书面请求，应允许客户审查 DTC 保存的与客户的信用状况和/或投资活动有关的任何记录。客户还应自行承担相应的费用和费用，以复制此类记录。
（h）跨行业同意
以下签署人特此确认并同意可能出现的情况，即与 DTC 有关的官员、联营公司、联营公司、雇员、银行、银行雇员或经销商可能是为签署人账户输入的交易的相对主要经纪人。下列签署人特此同意进行任何此类交易，但须遵守任何银行、机构、交易所或贸易理事会的规则和条例中所载的限制和条件，如有的话，并须遵守这些限制和条件。如有，适用于其他适用的规定。
（i）外汇
所有客户账户都有DTC 交易部门规定的保证金要求。自动的DTC 交易系统将相应地分配所有客户账户的利润和损失。
DTC 可为客户账户制定规则和规定，包括但不限于最低账户规模、投资期限、佣金和奖励费用或任何其他财务安排。
客户有责任了解有关 DTC 的所有必要信息，并确保在任何交易活动之前讨论和明确了解所有安排。客户有责任了解有关交易代理人、代表或律师的所有必要信息。在任何交易活动之前，如果该账户是由客户以外的人进行交易的。所有客户都应意识到，DTC 在任何情况下都不能保证向客户或代表客户行事的任何人或任何与 DTC 有业务关系的介绍经纪人、顾问或其它第三方提供任何回报。
（j）转移资金的授权
客户特此同意，DTC 可在任何时候，根据DTC 的唯一判断，将客户单独或与他人共同持有的任何款项、货币或其他财产从客户账户转入客户在 DTC 持有的任何其他账户。
（k）同意电子传输确认书和账户报表
客户特此同意在互联网上提供客户的账户信息和交易确认书，而不是通过邮件或电子邮件将这些信息传递给客户。客户将能够通过 DTC 网站访问账户信息，使用客户的账户登录信息访问账户。DTC 将发布所有客户的账户活动，客户将能够生成每日，每月和年度的账户活动报告，以及每一个执行的交易报告。更新后的账户信息将不超过二十四(24)小时后，任何活动发生在客户的账户。客户在线账户上的账户信息将被视为交付交易确认书和账户报表。在任何时候，账户信息都将包括有票号、购买和销售率、使用保证金、可用于保证金交易的金额、损益表以及当前未结算或待决头寸的交易确认书。
11.保证金要求
客户应以 DTC 可自行决定不时要求的金额和形式提供并维持 DTC 保证金。保证金要求，包括初始（开仓）保证金和维持保证金要求，由DTC 自行决定。 DTC 可随时更改保证金要求。客户同意在客户账户中保留足够的保证金，恕不另行通知 DTC。但是，尽管有任何额外保证金要求，DTC 可随时根据下文第 15 段进行清算客户账户。 DTC 未能执行本协议项下的权利，不应被视为 DTC 放弃或未来放弃此类权利，客户不应对 DTC 因此类失败所造成的损失承担任何责任。 DTC 之前的保证金要求不允许DTC 在未事先通知客户的情况下增加或减少该要求。 DTC 可随时要求额外保证金（“保证金追缴”）客户的保证金余额低于适用于该账户的 DTC 维持保证金水平，DTC 在任何时候均可自行决定认为这样做是谨慎的。 DTC 可随时根据下文第 12 段清算客户账户。任何代表超额保证金存款的客户资金应由 DTC 自行决定选择的顶级金融机构的托管账户进行维护。 DTC 保留从客户账户中提取或转移资金的权利，恕不另行通知，以确保发布的按市值计价的保证金（定义为保证金加上或减去按市值计价的损益）等于或超过已开仓头寸的所需保证金和/或履行对DTC 的任何付款义务，包括与客户账户相关的费用和收费。如果客户指示 DTC 出售任何保证金，抵押品，合同或其他财产，DTC 无法向买方提供此类保证金，抵押品，合同或其他财产，因为客户未能将其交付给 DTC，DTC 可以借入或购买提供此类交付所需的任何保证金，抵押品，合同或财产，客户特此同意保证 DTC 免于承担任何责任，索赔，损失，损害，成本或费用，包括 DTC 可能承担的律师费。
12.安全客户协议
为了确保客户在任何时候向 DTC 支付任何债务或其他义务，包括但不限于（a）与DTC 的任何账户、合同或其他交易下的债务或其他义务；或（b）客户对 DTC 的任何账户，合约或其他交易的任何担保所产生的任何债务或其他义务，客户特此向 DTC 分配，质押和授予担保权，保留权和抵消权：（i）DTC 的所有客户账户；（ii）DTC 客户账户中的所有合约，现金及其他财产，或由客户交付或以其他方式提供以确保其对 DTC 或 DTC 为任何目的拥有或控制的债务或其他义务（包括保管）；（iii）上述所有产品及所得（统称为（i）（ii）及（iii））均称为“抵押品”。如果客户因上述 (a)和(b)项等原因而欠 DTC 债务，DTC 应有权出售、质押、作为担保、保留、转让、投资、混合和以其他方式使用其持有的任何抵押品(包括但不限于，将合同用作贷款给 DTC 的抵押品)，不受客户任何性质的任何索赔或权利的影响，包括客户的任何股本或赎回权，并以 DTC、其托管人或任何一方的指定人的名义登记任何抵押品。任何 DTC 未能执行其在本合同项下的权利，不应被视为 DTC 放弃或未来放弃此类权利。DTC 被不可撤销地指定为客户的事实律师，并被授权在没有通知客户的情况下执行和交付任何文件，发出任何通知，并代表客户采取任何行动，包括执行、交付和提交财务报表，而 DTC 认为这是证明或保护DTC 在任何抵押品方面的利益所必需的或可取的。如认为 DTC 可接受的担保品(“合格抵押”)在任何时候不足以偿付客户对 DTC 的债务或其他义务，包括按照“交易规则和条例”和本条例第 10 段提供保证金的义务，客户应根据“交易规则和条例”和本条例第 11 段的规定及时支付全部赤字。
13．能力
由于客户指示DTC 签订此类合同和交易，DTC 作为委托人所订立和签订的任何和所有合同和交易都是由DTC 进行的。 DTC 应在与客户签订的任何和所有合同和交易中担任委托人，而不是作为经纪人、中间人、代理人和顾问，或以任何受信人的身份行事。客户理解并认识到，由于客户指示 DTC 进行此类交易和合同而签订的任何和所有交易和合同，可
由 DTC 作为委托人与金融机构签订，但不限于银行、清算机构和外汇及贵金属交易商(“对方”)，完全由 DTC 自行决定和选择。客户声明、同意并授权 DTC 与任何对口方签订、交付、销售、购买和结算任何和所有客户的合同。客户应保证并保持 DTC 对其可能承受的任何损失无害。DTC 可自行决定和选择权，作为与对手方采购、销售、交付和结算任何合同(包括所有客户合同)的主体。
14．转仓
在交易结束前未进行抵销或结算清算交易的情况下，DTC 有权进行全部或部分展期。外汇及贵重金属在客户账户中的任何部分，由外汇管理局自行决定及客户对下一个结算地点的风险。滚转将以 DTC 和 DTC 的绝对和唯一确定的速率执行。自由裁量权。在 DTC 正常营业日结束之后，延期借记或贷记将反映在客户账户中。DTC 保留在任何时候根据其绝对和唯一决定权更改任何延期借项或贷项，如果 DTC 是绝对的，和唯一的酌情权，认为借记或贷记的金额是错误的。
15.账户和赤字余额的清算
如果（a）客户死亡或宣布无能力; （b）提出破产呈请，或委任接管人的呈请，或由客户提出或针对客户的任何破产或类似程序; （c）向 DTC 所载的任何客户账户提交附件; （d）保证金不足; （e）DTC 确定任何为保护一个或多个客户账户而存入的抵押品，不论当前市场报价如何，都不足以保障账户; （f）客户未能向 DTC 提供根据本客户协议要求的任何信息;或（g）DTC 认为适合其保护的任何其他情况或发展; DTC 可自行决定采取以下行动中的一项或多项或任何部分：（1）在客户的任何资金或财产中，客户可以直接或通过担保担保方式履行 DTC 的任何义务。其保管或控制; （2）出售或购买任何或所有外汇和/或贵金属合约或为客户持有或携带的其他财产，以及（3）取消任何或所有未完成的订单或合同，或代表客户作出的任何其他承诺。上述任何行动均可在不要求保证金或追加保证金的情况下采取，无需事先通知客户、客户的遗产代理人、继承人、遗嘱执行人、管理人、受托人、受遗赠人或受让人，也不需事先通知客户或与他人共同拥有所有权。根据 DTC 的要求，客户在任何时候都有责任支付客户帐户中的任何赤字余额，在任何情况下，如果 DTC 或客户全部或部分清算客户帐户中的任何缺陷，客户都应承担责任。
如果根据清算实现的收益不足以支付客户因DTC 而承担的所有债务，客户应按要求迅速支付任何此类赤字的全部金额，连同所有其他赤字和所有未偿债务顾客。包括所有执行和收取的费用，例如但不限于实际律师费、支出和差旅费。其 他费用、任何此类赤字的利息和负债，其利率高于当时的五个百分点。
16、费用
（a）DTC 作为委托人，在大多数情况下，不收取佣金。DTC 可以保留其从您的交易中支付或接收的买卖价格之间的差额。DTC 保留自行决定随时更改收费结构的权利。DTC 将收取银行相关费用，如存款/取款的电汇。DTC 也将收取赎回费用。DTC 还将向客户收取购买DTC 提供的可选增值服务的费用。
(b) 如果您的账户中 45 个自然日内没有执行任何交易，当前您的账户将被收取休眠账户管理费(“简称费用”)。费用将从您账户余额中扣除，每月扣除 15 美元。如果收取费用后您的账户余额降至零，则您的账户将自动存档。
17.通过引入代理或第三方顾问向 DTC 介绍的客户
如果介绍经纪人或第三方顾问将客户介绍给DTC，则客户理解 DTC 可能会向该人或实体支付费用，佣金或其他报酬。客户承认并同意，作为 DTC 的介绍经纪人或第三方顾问，介绍经纪人或第三方顾问不代表 DTC 或客户账户持有或收取任何保证金。相反，资金应通过电汇或其他方式直接发送至 DTC，以存入客户的保证金交易托管账户。 DTC 无法控制且不能认可或担保客户可能拥有或将从介绍经纪人或第三方顾问处获得的任何信息或建议的准确性，并且客户同意此类介绍经纪人或第三方顾问不以任何形式或方式表示或代表DTC 行事。信息和建议包括但不限于介绍经纪人对第三方交易系统，研究报告，市场交易建议或经济新闻和事件解释导致的客户账户未来利润或损失的实际或默示承诺。如果客户从介绍经纪人或第三方收到信息或交易建议，DTC 对客户使用此类信息或建议所造成的任何损失不承担任何责任。 DTC 在开立账户时向客户提供或以其他方式提供 DTC 风险披露声明和附加风险披露声明。由介绍经纪人或第三方介绍的任何客户应仔细阅读 DTC 账户申请，DTC 风险披露声明和附加风险披露声明以及 DTC 交易规则和规则文件，不应依赖介绍经纪人或第三方提供的信息。客户承认并理解，保证金现金外汇和/或贵金属交易涉及高风险，许多人在交易外汇或贵金属时亏钱。所有客户都应该明白，他们只应在交易外汇或贵金属时交易风险资本基金。风险资本基金被定义为资金，如果丢失，将不会改变您或您家人的生活方式。客户还应了解，介绍经纪人或第三方顾问可能不
受监管机构的监管。客户进一步理解并同意，介绍经纪人或第三方顾问有权访问有关 DTC 客户帐户的信息，包括但不限于帐户信息，客户地址，电话号码和电子邮件地址。除非经客户书面许可，否则介绍经纪人或第三方顾问将不具有交易授权特权。客户在任何情况下都理解并同意，介绍经纪人和/或第三方顾问是客户的代理人，而不是 DTC 的代理人。
18.介绍经纪人对DTC 及其客户的责任
介绍经纪人对他们介绍的客户和 DTC 在其介绍账户方面负有一定的责任，包括但不限于：
（1）与他们介绍的客户就他们各自的投资目标和投资机会进行沟通;
（2）遵守适用于介绍经纪人的所有法律要求，规则和规定;
（3）遵守适用于其介绍客户的所有法律要求，规则和规定;
（4）确定任何佣金结构并将结构传达给引入的客户。介绍经纪人不负责：
（1）开设介绍客户的账户，包括但不限于批准、服务和监测客户账户，并按法律要求获取和核实账户信息；
（2）为便利保证金外汇和(或)贵金属交易或者满足保证金要求，向客户募集资金的；
（3）执行交易或接受客户账户的订单，或执行任何可能导致或似乎导致客户头寸或账户价值发生变化的行为，包括但不限于滚动现货头寸，清算头寸，支付利息，要求保证金，或接受额外资金或向客户支付资金;
（4）向客户提供任何账户报表;
19.声明和确认
当交易执行时，交易确认将在线进行，并应立即反映在客户的交易平台上，包括但不限于，DTC 保证金监视器、DTC开仓窗口、DTC 现货簿、账户报表报告和交易历史报告。通过电话进行的交易将代表客户账户进行，并在网上反映在 DTC 保证金监视器、DTC 开仓窗口、DTC 现货簿、账户报表报告及其贸易历史报告中。如客户未在收到报告后立即通过电话提出异议，则所有客户在线头寸窗口和账户报表应视为正确无误，并应具有决定性和约束力，并在交易后一(1)个 DTC 工作日内以书面形式予以确认。向客户提交或如果DTC 没有更改确认的执行价格和细节。如果 DTC 确定电子或口头价格或交易细节执行错误，DTC 保留更改已执行和已确认交易的确认汇率、价格或交易细节的权利。除非立即通过电话或电子邮件提出异议，保证金电话或交易更正应具有决定性和约束力。未提出异议的，视为在客户收到上述报告之前，DTC 或DTC 代理人已批准其采取的所有行动。网上执行的交易将在交易时网上确认，通过电话输入的交易将在 DTC 营业日结束前口头和在线确认。在客户离线时执行的未决订单或交易将在重新登录 DTC 应用程序或 DTC 应提供的其他平台时反映在客户 DTC 开头位置窗口、DTC 保证金监视器、账户报表报告及其交易历史报告中。客户的账户报表将在DTC 互联网交易平台的报告部分在线提供，客户月报表将通过电子邮件、传真和/或邮件提供。客户未能收到贸易确认书，并不解除客户对本合同所规定的目的义务。客户理解并承认，DTC 向客户提供的关于交易确认和帐目报表的口头信息可能由于传输延迟和其他 DTC 无法合理控制的因素而未经核实和不完整。因此，客户承认并同意任何对这种口头信息的依赖都由客户承担风险，客户还同意立即提请 DTC 注意客户有理由相信的任何这种口头信息与客户自己的信息不一致。本客户协议的任何条款不得阻止 DTC 在发现错误或遗漏时进行更正。客户同意应纠正这种错误，不论是造成利润还是亏损，客户账户将以与没有发生错误时客户账户处于相同位置的方式和程度记入或借记。
20.通信
报告、xx、通知和任何其他通信可在此处指定的地址发送给客户，或发送到客户不时以书面形式向 DTC 指明的其他地址。所有以邮件、电报、电子邮件、传真、信使或其他方式发送的通信，在寄件人交存英国邮件或收据或客户指定的通信或录音设备或在客户实际或推定控制范围内以其他方式发送的通信或记录设备时，应被视为 DTC。该通信应被视为已亲自送达客户，不论客户是否实际收到，客户特此放弃因未能收到此类信函而引起的所有索赔。客户发送的所有通信在DTC 接受之前不得视为有效。客户应立即通过电子邮件 xxxx@xxxxx.xxx 以书面形式通知DTC 客户地址的任何变更。
21.不可抗力
DTC 对由于DTC 无法控制的任何原因，包括但不限于自然灾害、天灾、内乱、战争、叛乱、国际规避、政府行动(包括但不限于外汇管制、没收、国有化、贬值)、市场条件、无法与任何相关人员或实体通信或传输或通信系统 或计算机设施的任何故障或故障，无论是属于DTC、客户或其他，还是属于任何市场或任何结算或结算系统。
DTC 将不对由于传输或通信设施故障或故障、停电或DTC 无法控制或预期的任何其他原因导致的订单传输延迟负责。 DTC 只对其直接归因于DTC 重大过失、故意违约或欺诈的行为负责。DTC 对DTC 根据本协议使用的任何一方违 约造成的损失不承担责任。
22.交易建议和市场信息
客户承认、理解并同意：(i)直接贸易委员会或任何向直接交易委员会介绍客户的介绍经纪人向客户通报的任何市场建议和信息，不构成出售要约或征求要约购买任何外币和/或贵金属合同；(ii)该等建议及资料，虽然是根据直接贸易委员会认为可靠的来源所取得的资料，但可能不完整，亦可能未经核实；及。(iii)直接贸易委员会并无就向客户提供的任何资料或交易建议的准确性或完整性作出任何xx、保证或保证，亦不应对该等资料或建议的准确性或完整性负责； (iv)客户进一步承认，如果客户将交易权或对客户账户的控制权授予第三方(授权代理人)，则 DTC 不应负责审查客户的选择，也不应就其提出任何建议。
23.知识产权与保密
DTC 互联网交易平台(“DITP”)、在线交易系统或 DTC 可能提供的其他平台中的所有版权、商标、商业秘密和其他知识产权的知识产权和机密性，应始终保持 DTC 的唯一、专属和绝对财产。视情况而定，客户对 DITP 没有任何权利或利益，除非有此规定的访问和使用 DITP 的权利。客户同意并保证客户将在任何时候保护 DTC 的机密性，只允许其员工和代理商在需要访问的基础上访问 DITP。客户不得发布、分发或以其他方式向第三方提供任何来自或与 DTC 互联网交易平台有关的信息。客户不得复制、修改、解译、逆向工程、更改或制作直接交易网络交易平台的衍生作品或其运作方式。任何违反上述规定的行为将依法受到起诉。
24.赔偿
客户同意赔偿并使 DTC，其关联公司、高级人员、雇员、代理人、继承人和受让人，包括律师费在内的任何和所有责任、损失、损害赔偿、费用和费用，他们或他们中的任何一方因客户未能充分和及时地履行本合同中的客户协议而引起的，或如果客户在此或在任何时候所作的任何xx和保证都不真实和正确的情况下发生的。除在此另有明文规定外，客户还同意立即向 DTC 支付所有损害赔偿、费用和费用，包括 DTC 为执行本客户协议的任何条款、DTC 与客户之间的任何其他协议以及以下任何合同和其他交易而发生的所有损害、费用和费用，包括律师费和其他专业费用。
25.您所代表的披露和财务信息，并保证在本文件中向 DTC 披露的财务信息以及您提供的与您的帐户有关的任何和所有文件，都是您当前财务状况、交易经验和投资复杂程度的准确表示。您还向DTC 表示，您提供的与本客户协议有关的信息是完整、完整和准确的，DTC 有权依赖此信息，直到 DTC 收到您对此类信息的任何更改的实际书面通知为止。您代表并保证您已经非常仔细地考虑了您认为是风险资本的部分资产；客户认识到，风险资本是您愿意冒险的金额，如果丢失，您的生活方式或其他方面都不会对您产生任何影响。DTC 将不会分享或出售有关其客户和/或潜在客户的信息，除非向其职员、雇员、代理人、关联公司、合作伙伴和合伙人提供在DTC 正常业务过程中合理需要的信息，包括但不限于DTC 的银行或信贷关系。DTC 应向法院、管理当局、执法当局、为任何初步刑事诉讼(一般)的目的和目的治安法官以及其职权范围包括预防和(或)协助与怀疑、洗钱和资助恐怖主义有关的当局披露情况，关于客户和客户交易的信息，以响应对此类信息的请求，而DTC 有义务根据法律或主管法院的命令这样做。
26.联合账户和法律实体账户
如果超过一（1）名自然人作为客户执行本客户协议，则所有此类自然人同意对本客户协议中承担的义务承担连带责任。如果本客户协议代表公司，有限责任公司，信托，合伙企业，非法人协会或其他非自然人作为客户执行，则客户特此同意就任何损失，索赔进行赔偿，辩护，保存并保持 DTC 免受损害， 因违反任何信托或类似义务或涉嫌违反本协议而直接或间接导致的费用，损害赔偿和费用。
如果该账户由多于一（1）人持有，则所有联合持有人对该账户交易产生的任何和所有义务向 DTC 承担连带责任，并同意受各方签署的本客户协议的所有条款和条件的约束。DTC 有权接受指示，并向联合所有者中的任何一个(1)发送确认，并且每个客户在此进一步指定任何和所有其他所述联合所有者作为客户代理，处理与联合账户有关的任何和所有事项，包括但不限于收到确认书并因此放弃接受其他确认书的任何权利。任何（1）名或者数名共同所有者对共同账户享有全部权限，并承担该共同账户的风险。
如本账户为联名账户，如客户死亡，幸存者应立即向 DTC 发出书面通知，DTC 可在收到通知之前或之后采取此类行动，提起此类诉讼，要求提交此类文件，保留帐户，并限制帐户中的交易，如 DTC 认为可取的，以保护 DTC 免受任
何现行或未来法律或其他方面的任何税收、责任、处罚或损失。任何已死亡的客户的财产，对于在 DTC 收到特定客户的死亡，或在清算账户过程中发生的，或调整各方利益。
27.转介披露
DTC 与DTC 有业务关系的任何介绍经纪人是完全独立且独立的实体。DTC 与介绍经纪人之间的清算协议并未建立合资企业或合伙企业，而且任何此类介绍经纪人均不是 DTC 的代理人或雇员。
（a）DTC 不控制，也不能担保或保证客户未来可能从介绍经纪人或任何其他非 DTC 雇用的外币和/或其他人收到或可能获得的信息的准确性或完整性贵金属交易或此类交易涉及的风险。
（b）DTC 在开立账户时向所有新客户提供风险披露信息。客户应仔细阅读该信息，不得依赖任何其他来源的相反信息。
（c）客户承认 DTC 或与 DTC 相关的任何个人未就未来利润做出承诺或客户账户中的损失。客户理解交易涉及巨大的损失风险，并且许多人会亏钱交易。
（d）如果介绍经纪人或任何其他第三方向客户提供有关外币，贵金属或交易所交易的信息或建议，则客户同意 DTC 对由于客户使用此类信息而导致的任何客户损失不承担任何责任。或建议。
（e）如果客户以前被认为或认为利用介绍经纪人或任何其他第三方提供的任何第三方交易系统，课程，计划，研究或建议将导致交易利润，客户特此承认并且了解所有外币，贵金属和交易所交易，包括根据介绍经纪人或其他第三方的系统，课程，计划，研究或建议进行的交易涉及巨大的损失风险。此外，客户特此承认，同意并理解使用介绍经纪人或其他第三方的交易系统，课程，计划，研究或建议不一定会带来利润，避免损失或限制损失。
（f）客户理解，介绍经纪人和许多交易课程，计划，研究或建议的第三方供应商不受政府机构或监管机构的监管。
（g）由于外币或贵金属交易的风险因素较高，因此在此类交易中只应使用真正的“风险”资金。如果客户没有额外的资金，客户可以承受损失，客户不应该在外币和/或贵金属市场进行交易。
（h）客户理解并承认 DTC 可以向介绍经纪人赔偿将客户介绍给 DTC，并且此类补偿可以基于每个交易或其他基础。对介绍经纪人的此类补偿可能要求客户在 DTC 通常提供的普通点差之上标记。此外，客户有权获知此类报酬的确切性质。
（i）客户理解并同意，如果客户的 DTC 账户由介绍经纪人介绍，介绍经纪人有权访问客户的 DTC 账户，但介绍经纪人无权参与客户的任何交易。 DTC 账户，除非客户根据客户与介绍经纪人之间的授权书授权，授予此介绍经纪人在客户账户上进行交易的权利。
28.修订
客户理解，承认并同意 DTC 可以随时修改或更改本客户协议，包括本协议的附件，并且客户的帐户应受此类更改的约束。 DTC 将通过向客户发送电子邮件或在DTC 网站（xxx.xxxxx.xxx）上发布修改或变更通知，向客户发出任何此类修改或变更通知。客户同意受以下任何此类修订或变更条款的约束：（i）DTC 在其网站上发布此类修改或变更通知后十（10）天;或（ii）在清算令以外的任何命令进入当日。如果客户反对任何此类更改或修改，客户同意清算客户的开放式头寸，并指示直接交易委员会在网站上公布修改或更改通知后 10(10)天内处置客户账户中的所有资产。本客户协议的放弃或修改不得在双方之间的任何交易过程中暗示，也不得因 DTC 或其代理人在任何场合或一系列场合未能维护其根据本客户协议享有的权利而暗示。任何相反的口头协议或指示不得被承认或强制执行。
29.终止
x客户协议应继续有效，直至终止，并可在客户没有外币和/或贵重金属开户头寸和/或 DTC 持有或欠DTC 的任何时候，在 DTC 实际收到终止书面通知后，由客户终止。本协议可由 DTC 在向客户发出书面终止通知后随时终止，但终止不影响以前进行的任何交易，也不免除任何一方在客户协议即使在客户协议终止后也适用。DTC 的任何终止通知不得解除客户因任何赤字余额而产生的任何义务。
30.数据保护
30.1 不时向DTC 披露的敏感或其他个人数据将被记录在数据库中，并根据 DTC 的要求进行处理，以提供本协议中规定的服务，用于咨询和咨询服务，直接营销（例如通过邮件，电话，传真，电子邮件或其他方式通知您有关其他产品和服务的信息由 DTC 及其任何子公司，联营公司，代理商或客户以及其他精心挑选的第三方提供）和/或不时执行 DTC 指令所需的任何其他目的。如果客户不希望为直接营销目的处理此类个人数据，请客户告知 DTC。因此以书面形式。客户特此明确同意按照本条款的规定和为本条款的目的处理个人数据。
30.2 在向客户提供本协议项下预期的服务的过程中，DTC 可能需要向其员工，员工，代理人，子部门披露部分或全部 客户的个人数据，无论是敏感的还是其他的。承包商，产品提供商和/或投资机构，（所有这些都应遵守 DTC 认为必要的机密性和数据保护义务，以履行其在本协议下的义务）提供上述服务的目的和/或任何监管或公共机构在法律上遵守其监管或其他义务，并且出于这些目的，客户明确同意转移他/她的个人数据，无论是敏感的还是否则根据“数据保护法”及其下
的规定向其他国家提供。客户特此明确同意按照本条款的规定和为本条款的目的处理个人数据，无论是敏感的还是其他的。
30.3 就数据保护法而言，客户有权要求DTC 就所处理的有关他/她的个人数据通知客户，并在必要时要求其更正，更
新或修改。虽然 DTC 可能会要求客户不时重新确认他/她的个人数据，但如果此类数据发生变化，客户必须立即以书面形式通知 DTC。
31.防止洗钱
DTC 有法律义务遵守“防止洗钱法”及其下的规定。如果 DTC 因客户存放的资产涉嫌洗钱或资助恐怖主义而促成此类义务，则有义务将其怀疑告知 FINRA 主管当局。除其他外，还可能要求DTC 阻止相关客户的资产。
客户承认 DTC 必须遵守“防止洗钱法”及其下制定的规定，并同意根据要求提供 DTC，并提供真实，正确和完整的信息，包括但不限于缔约方的身份识别，识别资产的受益所有人，以及 DTC 可能合理要求遵守其法律义务的经济和商业背景以及业务的基本原理以及任何其他信息。
32.完整的客户协议
x客户协议连同完整的客户账户申请、DTC 交易规则和规章、风险披露声明、附加风险披露声明、关于 EMIR 风险减轻程序的确认书及其所有适用的书面增编，体现了双方的全部协议，取代任何和所有先前的书面和口头协议。
33.记录
客户确认并同意，客户与 DTC 人员（包括但不限于委托人，代理人，员工或同事）之间的任何和所有对话均可由 DTC 自行选择并酌情决定，在使用或不使用声音的情况下以电子方式记录， 自动警告音。 都可以通过电子方式记录下来。 客户还同意任何一方当事人使用此类记录和记录作为与客户或 DTC 可能产生的任何争议或诉讼有关的证据。客户理解， DTC 按照DTC 既定的业务程序并自行决定定期销毁此类录音，客户特此同意销毁。
33.2 DTC 制作的任何此类录音或笔录可由 DTC 自行斟酌并按照其自己的惯例和政策予以销毁。
34.约束力
x客户协议应是连续的，并且应在 DTC 开立或重新开立的任何时间单独或共同涵盖客户的所有账户，无论 DTC 人员或其继承人员的任何变更或变更，分配 或附属公司。 本客户协议（包括所有授权）应符合 DTC 及其继承人的利益并对其具有约束力。并通过合并，合并或其他方式转让，并对客户和/或客户的遗产，遗嘱执行人，受托人，管理人，法定代表人，继承人和受让人具有约束力。 客户特此批准在本客户协议日期之前受DTC 影响的所有交易，并同意客户的相关权利和义务受本客户协议条款的约束。
35.法律和管辖权
x客户协议应受英国法律管辖，并按照英国法律解释，但不影响其法律冲突规定。对于与本客户协议相关的任何诉讼，诉讼或程序（“程序”），客户特此不可撤销地（i）提交英国法院的司法管辖区，包括但不限于客户所在地的情况。或居住在国外; （ii）放弃客户在任何时间向任何该等法院提出的任何诉讼的地点的任何反对意见;及（iv）放弃任何声称此类诉讼已被带入不方便的论坛。但是，在不损害前述规定的前提下，DTC 保留在客户的住所和/或居住国或在任何其他主管法院提起诉讼的权利，在这种情况下，英国法律（不影响法律冲突条款） 仍将适用，在这种情况下，客户放弃客户可能在任何时候对向任何此类法院提起的任何诉讼的地点设置的任何反对意见，并放弃在不方便的法院提起诉讼的任何主张。
36.遣散
如果本协议的任何条款或部分内容被任何司法机关宣布为无效，可撤销，非法或不可执行，则可能与本协议分离，否则本协议将保持完全有效并对本协议各方具有约束力。
37.取代先前的协议
x协议取代双方之前就本协议主题达成的任何书面或口头协议或谅解，并且在此之前取消任何此类先前协议和谅解。
38.合同的接受
x客户协议应为 DTC 所接受，当DTC 接受客户申请时，以及当包括客户协议、DTC 风险披露声明等在内的所有客户协议文件被 DTC 接受时，本客户协议将成为客户与DTC 之间具有法律约束力的合同。风险披露声明、DTC 交易规则和规章以及关于 EMIR 风险减轻程序的确认，由客户确认、签署，并被 DTC 接受。由 DTC 在其账簿和记录上开立特定客户的帐户，并向客户发出实时用户 ID 和密码，应构成 DTC 接受《客户协议》。《客户协议》、《风险披露》和
《交易规则和规则》的英文版本是包括争端解决在内的所有目的的控制文件。
This is an agreement between DTC Commodity Limited and you as a Customer. In this “Customer Agreement”, DTC Commodity Limited is referred to as “DTC” or “we”. The term “you” or “Customer” refers to any physical or legal person, including, without limitation, a body corporate, trust or partnership that is associated with the opening of the Customer’s Account with DTC. The Customer Agreement outlines the terms and conditions that apply to the opening and operation of a margined spot foreign exchange and/or Precious Metals trading account with DTC.
DTC strongly encourages you to review this Customer Agreement carefully. If you have questions, please call and we will review the material with you. To open your account, each owner associated with the Account must sign the application that is included in this package, and you should mail the completed application to DTC.
THIS CUSTOMER AGREEMENT, WHICH INCLUDES THE DTC RISK DISCLOSURE STATEMENT, ADDITIONAL RISK DISCLOSURE STATEMENT AND DTC TRADING RULES AND REGULATIONS THAT ARE PART OF THIS PACKAGE, IS A LEGAL CONTRACT. PLEASE READ ALL OF THE MATERIAL CAREFULLY BEFORE YOU SIGN THEAPPLICATION. YOUALSO MUST SIGN THEACKNOWLEDGEMENT PAGES WHERE INDICATED. TO OPEN AN ACCOUNT WE MUST RECEIVE ALL APPLICABLE COMPLETED AND SIGNEDPAGES.
You should retain a copy of these materials for your records.
In consideration of DTC opening and maintaining one or more Accounts for the undersigned Customer and agreeing to enter into over-the- counter margined spot foreign exchange and/or Precious Metals transactions with you as our Customer, you agree as follows.
1. INTRODUCTION
This Customer Agreement sets forth the terms and conditions governing your Account at DTC, and all Contracts and other transactions placed through this Account with DTC. This Customer Agreement includes and forms an integral part of the Customer Agreement, the attached Risk Disclosure Statements and Trading Rules and Regulations, all as amended from time to time, and all references to the terms and conditions of this Customer Agreement including provisions contained in the Risk Disclosure Statement and Trading Rules and Regulations are a part of this Customer Agreement. If you accept this Customer Agreement by signing the required Signature Page, you should E-mail the completed Customer Agreement Signature Page to:xxxx@xxxxx.xxx
2. LICENCE
DT CLEARING LLC is a futures broker registered with the Commodity Futures Trading Commission and a member of the National Futures Association. Number: 0376804. The licence empowers DTC to handle its own qualified competitors in relation to the following retail customers, professional customers (excluding collective investment schemes) and the following instruments:
- Options, futures, swaps, forward rate agreements and any other derivative contracts relating to securities, currencies, interest rates or yields, or other derivative instruments, financial indices or financial measures which may be settled physically or in cash.
- Options, futures, swaps, forward rate agreements and any other derivative contracts relating to commodities that must be settled in cash or may be settled in cash at the option of one of the parties (otherwise than by reason of a default or other termination event.)
- Rights under a contract for differences or under any other contract the purpose or intended purpose of which is to secure a profit or avoid a loss by reference to fluctuations in the value or price of property of any description or in an index or other factor designated for that purpose in the contract.
- Foreign exchange acquired or held for investment purposes.
DTC will maintain streaming prices in spot currency pairs, including but not limited to USDCHF, GBPUSD, EURUSD, USDJPY, AUDUSD, USDCAD, EURGBP, EURCHF, EURJPY, GBPJPY, GBPCHF, EURAUD, USDMXN, CHFJPY, EURCAD, AUDCAD, AUDJPY,
NZDUSD,AUDNZD, CADJPY, XAUUSD, XAGUSD and USDTRY. DTC will also trade in spot, Precious Metals (gold and silver) contracts. While all currencies trade in pairs, Precious Metals trade individually. There is no delivery in either the currencies or the Precious Metals and all are cash settled.
3. DEFINITIONS AND COMMON TRADING TERMS
Customers should read and be familiar with the DTC terminology.
4. SCOPE OF CUSTOMER AGREEMENT
All Transactions and all Contracts entered into between DTC and the Customer, shall be governed by the terms of this Customer Agreement and the terms of DTC’s Trading Rules and Regulations or DTC additional schedules or terms, which may from time to time be set forth or amended by DTC and which shall constitute an integral term of this Customer Agreement upon being posted on DTC’s website. Additionally, all transactions under this Customer Agreement shall be subject to the constitution, by-laws, rules, regulations, customs, usage, rulings and interpretations of the counterparty institution or other Interbank Market (and its clearing organization, if any) where such transactions are executed and to all applicable Federal and State laws and regulations. If any statute shall hereafter be enacted or an rule or regulation shall hereafter be adopted which shall be binding and mandatory upon DTC and shall affect it in any manner or be inconsistent with any of the provisions hereof, the affected provision of this Customer Agreement shall be deemed modified or superseded, as the case may be by the applicable provisions of such statute, rule or regulation, and all other provisions of this Customer Agreement and provisions so modified shall in all respects continue in full force and effect. Customer acknowledges that all transactions under this Customer Agreement are subject to the aforementioned requirements and Customer shall not thereby be given any independent legal or contractual rights with respect to such requirements.
Any proposals for, additions to, or modifications of this Customer Agreement, absent written agreement by an authorised person employed by DTC expressly accepting such proposals, additions or modifications , are void and shall have no effect.
This Customer Agreement refers and extends to a potential dealing relationship between the Customer and DTC in OTC non-deliverable Foreign Exchange Currencies and Precious Metals on a Spot Settlement Basis as is commonly dealt in the international Interbank Market, and all other provisions of this agreement notwithstanding, the Customer agrees, understands and warrants that the dealing relationship between the Customer and DTC hereunder shall not extend at any time to the dealing, arranging deals, trading, brokering of or advice related to any exchange listed commodity futures or options contract and shall be limited to the services and instruments covered by the Licence.
Customer accepts and agrees that Customer’s Orders are to be executed outside an exchange, regulated market or multilateral trading facility (MTF).
Subject to the terms and conditions of this Customer Agreement, the full completion of the Account Setup Requirements and acceptance of Customer’s Application to open an Account with DTC, DTC will open and maintain Account(s) in Customer’s name for the purpose of engaging in cash settled transactions with and for Customer in Currencies markets on a spot settlement basis, and provide such other services and products as DTC may, in its sole discretion, determine to offer in the future. Unless expressly stated otherwise in writing, all Contracts and other transactions entered into between DTC and Customer shall be governed by the terms of this Customer Agreem ent, including the Risk Disclosure Statement, Additional Risk Disclosure Statement and DTC Trading Rules and Regulations, to the extent annexed hereto, and as amended from time to time.
5. RISK ACKNOWLEDGEMENTS
CUSTOMER ACKNOWLEDGES AND UNDERSTANDS THAT TRADING AND INVESTMENT IN LEVERAGED OTC SPOT FOREIGN CURRENCY CONTRACTS IS HIGHLY SPECULATIVE, INVOLVES AN EXTREME DEGREE OF RISK, AND IS GENERALLY APPROPRIATE
ONLY FOR PERSONS WHO CAN ASSUME RISK OF LOSS IN EXCESS OF THEIR MARGIN DEPOSIT. Customer understands that
because of the low margin / high leverage normally available in Foreign Currency and Precious Metals trading, price changes in Foreign Currency and Precious Metals Contracts may result in significant losses. Such losses may substantially exceed Customer’s investment and margin deposit. By Customer directing DTC to enter into any Foreign Currency and Precious Metals Contract, any profit or loss arising as a result of a fluctuation in the exchange rate affecting such Currency will be entirely for the Customer’s account and risk, all initial
and subsequent deposits for margin purposes shall be made in U.S. dollars, in such amounts as DTC may in its sole discretion require; and DTC is authorised to convert funds in Customer’s account for margin into and from such Foreign Currency at a rate of exchange determined by DTC in its sole discretion on the basis of the then prevailing money market rates. Customer warrants that the Customer is willing and able, financially and otherwise, to assume the risk of Foreign Currency and/or Precious Metals trading. In consideration of DTC carrying his/her Account(s), Customer agrees not to hold DTC responsible for losses incurred through following its trading recommendations or suggestions or those of its officers, employees, agents or representatives. Customer recognises that guarantees of profit or freedom from loss cannot be given and it is impossible to predict performance in Foreign Currency and Precious Metals trading. Customer acknowledges that Customer has received no such guarantees from DTC or from any of its representatives or any Introducing Broker or other entity with whom Customer is conducting his/her DTC account and has not entered into this Customer Agreement in consideration of or in reliance upon any such guarantees or similar representations. All transactions effected for Customer’s Accounts and all fluctuations in the market prices of the Contracts carried in Customer’s Accounts are at Customer’s risk, and Customer shall be solely liable therefore under all circumstances. Customer represents and warrants that Customer is willing and financially able to sustain such losses, and that the trading of Spot Foreign Exchange (Currencies) and/ or Precious Metals is a suitable investment vehicle for the Customer. DTC is not responsible and liable for delays or partial or total failures in any online (electronic) Trading Platforms or any communications facility or other causes beyond DTC’s reasonable direct control. The Customer understands and recognises that the transactions to be conducted pursuant to this Customer Agreement are NOT conducted on a Regulated Market or Exchange. Customer represents that he/she/it is aware of the risks inherent in the trading of OTC Foreign Exchange (Currencies) and/or Precious Metals and is financially able to bear such risks and withstand any losses incurred. (For a further discussion on the Risks of Trading Foreign Exchange and Precious Metals please refer to the Risk Disclosure Statement and Additional Risk Disclosure Statement).
6. CUSTOMER’S REPRESENTATIONS, WARRANTIES AND ACKNOWLEDGEMENTS
6.1 As of the date hereof, the date of each Contract and other transaction in Customer’s Account and any date on which any DTC Risk Disclosure Statement, Additional Risk Disclosure Statement, or Trading Rules and Regulations are revised, updated or amended, Customer represents and warrants the following to DTC and agrees to the following for the benefit of DTC.
a) Customer is of sound mind, legal age (Full 18 years old) and legal competence.
b) Customer (if not a natural person) is duly organized and validly existing under the applicable laws of the jurisdiction of its organization.
c) Execution and delivery of this Customer Agreement and all Contracts and other transactions contemplated hereunder and performance of all obligations contemplated under this Customer Agreement and all Contracts and other transactions contemplated hereunder have been duly authorized by Customer.
d) Each person executing and delivering this Customer Agreement and all Contracts and other transactions contemplated hereunder on behalf of Customer or performing any obligations contemplated under this Customer Agreement and any Contract and other transaction contemplated hereunder on behalf of Customer, has been duly authorized by Customer to do so.
e) Execution and delivery by Customer of this Customer Agreement and all Contracts and other transactions contemplated hereunder, and performance of all of Customer’s obligations contemplated under this Customer Agreement and any Contract and other transaction contemplated hereunder, will not violate any statute, rule, regulation, ordinance, charter, by-law or policy applicable to Customer.
f) Customer has full beneficial ownership of Customer’s Account. Customer has not granted and will not grant a security interest in Customer’s Account with DTC (other than the security interest granted to DTC hereunder) to any person without DTC’s prior written consent. Customer has full beneficial ownership of all Collateral as further defined below and will not grant any security interest in any Collateral to any person (other than the security interest granted to DTC hereunder) without prior written consent of DTC.
g) Customer will execute and deliver all documents, give all notices, make all filings and take such other actions as DTC, in its sole discretion, deems necessary or desirable to evidence or perfect any security interest in favour of DTC or to protect DTC’s interests with respect to any collateral.
h) Customer hereby warrants that regardless of any subsequent determination to the contrary, Customer is suitable to trade Foreign Currency and/or Precious Metals as the case may be.
i) Customer has read and understands the Risk Disclosure Statement and Additional Risk Disclosure Statement (if applicable) contained in this Customer Agreement. Customer will review DTC’s risk disclosures, including, without limitation, DTC Risk Disclosure Statement and Additional Risk Disclosure Statement (if applicable) each time they are amended. Customer will not
affect any opening transaction in Customer’s Account unless Customer understands DTC’s revised risk disclosures, and Customer agrees that in effecting any opening transaction it is deemed to represent that Customer has read and understands DTC’s revised risk disclosures as in effect at the time of such opening transaction.
j) Customer has read and understands the trading rules and regulations contained in this Customer Agreement, including, without limitation, DTC’s Trading Rules and Regulations. Customer will review DTC’s Trading Rules and Regulations each time they are amended. Customer will not affect any opening transaction in Customer’s Account unless Customer understands DTC’s revised Trading Rules and Regulations, and Customer agrees that in effecting any opening transaction it is deemed to represent that it has read and understands DTC’s revised Trading Rules and Regulations as in effect at the time of such opening transaction.
k) Customer has conducted simulated trading using DTC’s Demo Trading Platform or such other platform as DTC has made available for a period that has allowed the Customer to develop a full understanding of the DTC Internet Trading Platform or such other platforms as DTC shall make available for online trading of Spot Foreign Exchange and/or Precious Metals real-time trading.
l) All information provided by Customer to DTC, including information regarding Customer’s trading experience and investment sophistication, is true, correct and complete, and Customer will notify DTC in writing promptly of any changes in such information.
m) Customer represents and warrants that the financial information disclosed to DTC in this document is an accurate representation of the Customer’s current financial condition. The Customer represents and warrants that in determining the Customer’s net worth, assets and liabilities were carefully calculated then liabilities were subtracted from assets to determine the value that the Customer has included in the financial information as net worth. The Customer represents and warrants that in determining the value of assets, the Customer included cash and/or cash equivalents, Government and marketable securities, real estate owned (excluding primary residence), the cash value of life insurance and other valuable assets. The Customer represents and warrants that in determining the value of liabilities, the customer included, without limitation, notes payable to banks (secured and unsecured), notes payable to relatives, real estate mortgages payable (excluding primary residence) and other debts. The Customer represents and warrants that in determining the Customer’s liquid assets the Customer included only those Assets that can be quickly (within one day’s time) converted to Cash. The Customer represents and warrants that the Customer has very carefully considered the portion of the Customer’s assets which the Customer considers to be risk capital. The Customer recognises that risk capital is the amount of money the Customer is willing to put at risk and if lost would not, in any way, change the Customer’s or his family’s lifestyle. The Customer agrees to immediately inform DTC in writing if the Customer’s financial condition changes in such a way to reduce the Customer’s Net Worth, Liquid Assets and/or Risk Capital.
n) Under the sanctions provided for at law, Customer certifies that: (1) the number shown on this Customer Agreement is the correct Social Security or Taxpayer Identification number; and (2) According to the UK domestic tax law, the ownership or beneficiary of the account is not subject to backup withholding.
o) Customer acknowledges that it is Customer’s obligation to immediately notify DTC in writing if there is a change in Customer’s electronic mail address, or in another location to which the electronic records may be provided. Customer acknowledges that it is Customer’s obligation to notify DTC in writing of the address or other location to which paper records may be provided, if necessary.
p) Customer is in compliance with all laws to which Customer is subject including, without limitation, all tax laws and regulations, exchange control requirements and registration requirements.
6.2 DTC is not responsible for advising Customer on any taxation liabilities whatsoever that may arise directly or indirectly in relation to the Contracts and/or the services provided by DTC under this Agreement.
7. CLIENT CLASSIFICATION AND INVESTOR COMPENSATION SCHEME
7.1 Each Customer is classified by DTC as either a Retail Client, a Professional Client or an Eligible Counterparty and is notified of the relevant category classification, in accordance with the relevant provisions of the Investment Services Rules for Investment Services Providers issued by the MFSA. The Customer has the right to request a different client classification. If DTC receives such a request, the Customer will be informed of its acceptance of such re-classification or otherwise and in the case of acceptance of the consequences it will entail. However, until DTC receives such request and informs Customer of its acceptance or otherwise, the Customer shall be dealt with on the basis of the original classification.
7.2 If Customer is classified as a Professional Client or as an Eligible Counterparty, DTC shall assume that the Customer possesses:
(i) The necessary level of experience and knowledge for the purpose of evaluating the suitability of particular instruments and/o r services to meet Customer’s investment objectives;
(ii) The necessary level of experience and knowledge for the purpose of understanding the risks involved in relation to those part icular instruments and/or services; and
(iii) The ability to financially bear any related investment risks consistent with the Customer’s investment objectives.
7.3 DTC contributes towards the Investor Compensation Scheme managed by a Management Committee appointed by the MFSA. It is important to note that compensation can be claimed only by Customers classified as Retail Clients and that no claim may be made inter alia on the basis of the following:
(i) Market movements resulting in a decrease in the value of an investment;
(ii) Poor investment advice;
(iii) A failed investment that had been duly executed;
(iv) Inflation;
(v) A decrease in interest rates and
(vi) Communication interruptions or malfunctions
7.4 If the Customer is classified either as a Professional Client or as an Eligible Counterparty, Customer should be aware that Customer will not be entitled to certain protection afforded to Retail Clients, or Professional Clients (respectively) including inter alia the Investor Compensation scheme and the disclosure of particular information in the course of Customer’s dealings with DTC.
7.5 DTC may be required to make certain Customer-related information available for inspection by the Regulator and its officials and representatives from time to time, in fulfillment of its Licence obligations.
8. FOREIGN ACCOUNTS
Any Customer of DTC may be asked to comply with special requests as required by any applicable governmental or regulatory agency or any other similar authority having jurisdiction thereof. In addition, DTC may be required to provide to an applicable governmental or regulatory agency with information regarding a Customer’s Account(s). Failure by the Customer to respond to such inquiries may result in immediate prohibition of the trading in the Customer’s Account(s) with the exception of offsetting trades to existing open positions. DTC also reserves the right to liquidate open positions at the request of any governmental, regulatory or similar agency and perform other duties as instructed by such agencies. All foreign accounts with DTC must copy and forward an official form of picture ID (i.e., Passport) and provide a bank reference before the Customer is approved for trading.
9. CUSTOMERS’ MONIES
When a Customer deposits money with DTC this will generally be segregated from DTC’s money in accordance with applicable MFSA rules and regulations on protection of Customers’ money, except when such money is held by DTC in respect of margin requirements. Customer acknowledges that the holding of money in a segregated Customer account may not provide complete protection.
All Customer monies will be held in a Clients’ account held with an authorized credit institution or bank situated in the EEA, Switzerland or the UK. The Customer’s rights may be affected, or even prejudiced, depending on the jurisdiction in which such Customers’ monies are held.
Customer acknowledges and agrees that no interest shall accrue in favour of Customer on any deposit/s and/or any other asset/ s that Customer may hold with DTC.
When a Customer undertakes one or more Contract/s with DTC at any particular time, any money held by DTC will be transferred to DTC to secure Customer’s actual or potential obligations towards DTC as counter-party in respect of such Contract/s, at which stage and for the duration of any pending Contract/s that the particular Customer may have with DTC such money will not be segregated from DTC’s money and the particular Customer will rank as a general creditor of DTC.
The Customer accepts and hereby authorises DTC to effect withdrawals from the Customer’s Account with DTC as may be required in order to settle any charges and/or fees that may become due by the Customer to DTC from time to time.
10. TRADING
(a) Authorisation to Trade for Customer’s Account
Subject to the terms of this Customer Agreement and all related agreements, including the Risk Disclosure Statement, Additional Risk Disclosure Statement and DTC’s Trading Rules and Regulations, the Acknowledgement Concerning EMIR Risk Mitigation Procedures, the Customer Account Application and any applicable Addenda thereto, the Customer authorizes DTC to enter, purchase, sell, and clear
OTC Foreign Exchange and/or Precious Metals Contracts on a Spot Settlement basis for the Customer’s Account in accordance with Customer’s electronic, written or oral instructions received through Internet Trading Platforms made available to Customer by DTC or via telephone directly to the DTC trade execution desk, or via any other communicative means available that has been approved by DTC for Customer’s use.
Customer agrees to be responsible for any transaction instruction received by DTC either electronically via an DTC approved Internet Trading Platform or orally via the telephone or via any other communicative means available that has been approved by DTC for Customer’s use. Before executing a transaction, DTC will require the Customer at least to provide User Name and Password authorisation electronically via a login procedure or if contacted via the telephone, orally via an identification procedure. Correct information will authenticate the Customer and allow the Customer to conduct transactions in the authorized DTC Account for that authentication.
(b) Pricing Information
DTC will make available, by posting on the DTC Internet Trading Platform or such other platform as DTC shall make available, by telephoning the DTC dealing execution desk, or by any other communicative means available to DTC and its Customers, Bid and Ask Prices at which DTC is prepared to enter Foreign Currency and Precious Metals Contracts with authorized Customers. Each Bid or Ask Price shall be for a Spot Contract with a specified Value Date and for a specific Foreign Currency pair or Precious Metal as the case may be. DTC makes no warranty expressed or implied that Bid and Ask Prices shown represent prevailing bid and ask prices in the interbank market. In addition, although DTC reasonably expects to make available continuous prices during business hours, because of a number of factors including but not limited to technology failures, communication system delays,lack of interbank liquidity or high market volatility, DTC makes no warranties that dealing prices and liquidity will be available continuously to Customers either electronically or via the telephone or by means of any other communication device.
(c) Execution of Orders
All Contracts made and entered into between Customer and DTC hereunder will be entered into by DTC as Principal. DTC will reasonably attempt to execute all Orders that it may, in its sole discretion, accept from Customer for the purchase or sale of Contracts in accordance with the Customer’s electronic, written or typed, or oral instructions. However, DTC shall not be responsible for any loss or damage caused, directly or indirectly, by any events, actions or omissions beyond the reasonable direct control of DTC, including, without limitation, loss or damage resulting, directly or indirectly, from any delays or inaccuracies in the transmission of Orders and/or information due to a breakdown or fault in or failure of any transmission or communication facilities.
Customer acknowledges, understands and agrees that all Market Orders and non-Market Orders such as Limit Orders, Stop-Loss Orders, One Cancels the Other Orders, or any other non-Market Order transmitted and accepted by an DTC representative, are accepted by DTC and undertaken in accordance with the relevant provisions of the Trading Rules and Regulations, as amended from time to time. The Customer acknowledges, however, that due to market conditions or other circumstances, DTC may be unable to execute the Order at the Market or specified level and the Customer agrees that DTC will bear no liability for failure to execute such orders. This includes but is not limited to all Orders that are entered over a weekend or holiday period when DTC is closed for business. In such circumstances, orders will be executed once the market is reopened on the next DTC business day. Customer acknowledges that execution may not be immediate or at the price dictated by the opening level due to imbalances in Orders, market conditions, market liquidity, price gaps or other circumstances. DTC shall have no responsibility for delays in the transmission of Orders due to disruption, market conditions, failure or malfunction of communications facilities and shall not be liable for any claims, losses, damages, costs or expenses, including attorneys’ fees, to any person or entity as a result of its negligence.
(d) Positions and Orders Limitations
DTC reserves the sole discretionary right to limit the number of Open Positions which Customer may enter, acquire or maintain with DTC; to refuse acceptance of any Order entered by Customer or to alter its dealing relationship with the Customer to include or exclude use of any electronic trading network or other trade execution method in any manner and to any extent.
(e) Netting
It is DTC’s policy to immediately net (aggregate) all currency purchases and sales, including open Buy positions as well as open Sell positions for the same currency pair. Any resulting single aggregate position for the currency pair, if not liquidated by the end of the particular DTC business day, is rolled forward to the next Spot Date (see section 14).
(f)Offset Instructions
DTC in its sole and absolute discretion may accept or reject orders to offset current Spot currency positions of Customer. DTC reserves the right to refuse to accept any order or to guarantee a market in which to offset. Offset arrangements on Spot currency positions arriving at settlement date must be negotiated and accepted by DTC at least one (1) DTC business day prior to the settlement date or rollover.
(g) Credit
The Customer authorises DTC or agents acting on behalf of DTC to investigate Customer’s credit standing and in connection therewith to contact such banks, financial institutions and credit agencies as DTC shall deem appropriate to verify and obtain information regarding the Customer. The Customer further authorises DTC to investigate Customer’s current and past investment activity, and in connection therewith, to contact such futures commission merchants, exchanges, broker/dealers, investment service providers, banks and compliance data centres as DTC shall deem appropriate. Upon a request made in writing by Customer to DTC, Customer shall be allowed to review any records maintained by DTC relating to the Customer’s credit standing and/or investment activity. Customer shall also be allowed, at Customer’s sole cost and expense, to copy such records.
(h) Cross Trade Consent
The undersigned hereby acknowledges and agrees that a situation may arise whereby an officer, affiliate, associate, employee, bank, bank employee or dealer associated with DTC may be the opposing principal broker for a trade entered for the undersigned’s account. The undersigned hereby consents to any such transaction, subject to the limitations and conditions, if any, contained in the Rules and Regulations of any bank, institution, exchange or board of trade upon which such or by which such orders are executed, and subject to the limitations and conditions, if any, contained in other applicable Regulations.
(i) Foreign Exchange
All Customer accounts will have margin requirements established by the DTC dealing desk. The automated DTC trading system will distribute profits and losses accordingly to all Customer accounts. DTC may establish rules and provisions for Customer accounts, including but not limited to minimum account size, investment time period, commissions and incentive fees, or any other financial arrangements. It is the Customer’s responsibility to find out all necessary information about DTC and ensure that all arrangements are discussed and clearly understood prior to any trading activity. It is the Customer’s responsibility to find out all necessary information about a trading agent or representative or attorney. Prior to any trading activity, if the account is to be traded by someone other than the Customer. All Customers should be aware that DTC can in no circumstances whatsoever guarantee any return to the Customer or any person acting on the Customer’s behalf or to any Introducing Broker, advisor or other third party having a business relationship with DTC.
(j) Authorisation to Transfer Funds
Customer agrees hereby that DTC may at any time, in the sole judgment of DTC, apply and transfer from Customer’s account to any of Customer’s other accounts held with DTC any of the moneys, currencies or other property of Customer held either individually or jointly with others..
(k) Consent to Electronic Transmission of Confirmations & Account Statements
Customer hereby consents to have Customer’s account information and trade confirmations available on the Internet in lieu of having such information delivered to Customer via mail or email. Customer will be able to access account information via the DTC website using Customer’s account login information to access the account. DTC will post all of Customer’s account activity and Customer will be able to generate daily, monthly and yearly reports of account activity as well as a report of each executed trade. Updated account information will be available no more than twenty-four (24) hours after any activity takes place on Customer’s account. Posting of account information on Customer’s online account will be deemed to be delivery of trade confirmations and account statements. At all times, account information will include trade confirmations with ticket numbers, purchase and sale rates, used margin, amount available for margin trading, statements of profits and losses, as well as current open or pending positions.
11. MARGIN REQUIREMENTS
Customer shall provide to and maintain with DTC Margin in such amounts and in such forms, and within such limits as DTC, in its sole discretion, may from time to time require. Margin requirements, including Initial (Opening) Margin and Maintenance Margin requirements, are at DTC’s discretion. DTC may change Margin requirements at any time. Customer agrees to maintain sufficient margin in Customer’s account without notice from DTC. Provided, however, and notwithstanding any demand for additional Margin, DTC may at any time proceed to liquidate Customer’s Account in accordance with Paragraph 15 below. Any failure by DTC to enforce its rights hereunder shall not be deemed a waiver or future waiver of such rights by DTC, and the Customer shall impute no liability to DTC whatsoever for losses resulting from such failure. No previous Margin requirement by DTC shall preclude DTC from increasing or decreasing that requirement without prior notice to the Customer. DTC may call for additional Margin (“Margin Call”) at any time Customer’s Margin Balance falls below the DTC Maintenance Margin Level as applied to that Account and at any time DTC, in its sole discretion, believes that it is prudent to do so. DTC may at any time liquidate Customer’s Account in accordance with Paragraph 12 below. Any Customer funds that represent Excess Margin Deposits shall be maintained in an escrow account at a top-tier financial institution selected by DTC in its sole discretion. DTC reserves the right to withdraw or transfer funds from the Customer’s account without notice to ensure that posted Marked-to-Market Margin (defined as Margin plus or minus marked-to-market P/L) equals or exceeds Required Margin on
Opened Positions and/or to satisfy any payment obligation to DTC, including fees and charges in respect of Customer’s Account. In the event that Customer directs DTC to sell any Margin, Collateral, Contract or other property and DTC is unable to deliver such Margin, Collateral, Contract or other property to a purchaser because Customer fails to deliver it to DTC, DTC may borrow or purchase any Margin, Collateral, Contract or property necessary to make such delivery, and Customer hereby agrees to guarantee and hold DTC harmless against any liability, claim, loss, damage, cost or expense, including attorneys’ fees that DTC may sustain.
12. SECURITY CUSTOMER AGREEMENT
In order to secure any indebtedness or other obligations at any time owing from Customer to DTC, including, without limitation, (a) indebtedness or other obligations under any Account, Contract or other transaction with DTC; or (b) any indebtedness or other obligations resulting from any guarantee by Customer of any Account, Contract or other transaction with DTC, Customer hereby assigns, pledges and grants to DTC a security interest in, right of retention and right of setoff against: (i) all of Customer’s Accounts with DTC; (ii) all Contracts, cash and other property in Customer’s Account at DTC or delivered or otherwise provided by Customer to secure its indebtedness or other obligations to DTC or in DTC’s possession or control for any purpose (including safekeeping); and (iii) all products and proceeds of the foregoing (collectively, (i), (ii) and (iii) are referred to as “Collateral”).
In the event of Customer indebtedness to DTC for reasons including but not limited to (a) and (b) outlined above, DTC shall have the right to sell, pledge, grant as security, retain, assign, invest, commingle and otherwise use any Collateral it holds (including, but not limited to, using the Contracts as collateral for a loan to DTC) free from any claim or right of any nature whatsoever of the Customer, including any equity or right of redemption by the Customer and to register any Collateral in the name of DTC, its custodian or a nominee for either. Any failure by DTC to enforce its rights hereunder shall not be deemed a waiver or future waiver of such rights by DTC. DTC is irrevocably appointed as attorney-in-fact for Customer and is authorized, without notice to Customer, to execute and deliver any documents, give any notice and to take any actions on behalf of Customer, including the execution, delivery and filing of financing statements, that DTC deems necessary or desirable to evidence or to protect DTC’s interest with respect to any Collateral. In the event that the Collateral deemed acceptable to DTC (“Eligible Collateral”) is at any time insufficient to satisfy Customer’s indebtedness or other obligations to DTC, including obligations to provide Margin in accordance with the Trading Rules and Regulations and Paragraph 10 hereof, Customer shall promptly pay upon demand the entire amount of such deficit in accordance with the Trading Rules and Regulations and Paragraph 11 hereof.
13. CAPACITY
Any and all Contracts and transactions made and entered into by DTC hereunder as a result of Customer directing DTC to enter into such Contracts and transactions, are made and entered into by DTC as Principal. DTC shall act as Principal in any and all Contracts and transactions with the Customer and not as broker, intermediary, agent, and advisor or in any fiduciary capacity. The Customer understands and recognises that any and all transactions and Contracts entered as a result of Customer directing DTC to enter into such transactions and Contracts may be entered by DTC, as Principal, with financial institutions including, without limitation banks, clearing institutions and Foreign Exchange and Precious Metals dealers (“Counter Party”) at the sole discretion and option of DTC. Customer represents, agrees and authorizes DTC to act as Principal in entering, delivering, selling, purchasing and clearing with any Counter Party(s) any and all Customer’s Contracts. Customer shall guarantee and hold DTC harmless against any loss it may sustain thereby. DTC may, at its sole discretion and option, act as Principal in purchasing, selling, delivering and clearing any Contracts, including all Customer’s Contracts, with the Counterparty(s).
14. ROLLOVERS
In the absence of an offsetting or closing liquidation trade executed prior to the close of business, DTC is authorized to rollover all or any portion of the Foreign Currency and Precious Metals Positions in Customer’s Account at DTC’s absolute and sole discretion and at Customer’s risk to the next settlement spot date. Rollovers will be executed at rates determined by DTC and at DTC’s absolute and sole discretion. Rollover debits or credits will be reflected in the Customer’s Account at a time after the normal close of the business day for DTC. DTC reserves the right to change at its absolute and sole discretion, any rollover debits or credits at any time if DTC, at its absolute and sole discretion, deems that the amount debited or credited was in error.
15. LIQUIDATION OF ACCOUNTS AND DEFICIT BALANCES
In the event of (a) the death or declaration of incompetence of Customer; (b) the filing of a petition in bankruptcy, or a petition for the appointment of a receiver, or the institution of any insolvency or similar proceeding by or against Customer; (c) the filing of an attachment against any of Customer’s Accounts carried by DTC; (d) insufficient Margin; (e) DTC’s determination that any Collateral deposited to
protect one or more Accounts of Customer is inadequate, regardless of current market quotations, to secure the Account; (f) Customer’s failure to provide DTC with any information requested pursuant to this Customer Agreement; or (g) any other circumstances or developments that DTC deems appropriate for its protection; in DTC’s sole discretion it may take one or more or any portion of, the following actions: (1) satisfy any obligation Customer may have to DTC, either directly or by way of guaranty of surety, out of any of Customer’s funds or property in its custody or control; (2) sell or purchase any or all Foreign Currency and/or Precious Metals Contracts or other property held or carried for Customer, and (3) cancel any or all outstanding Orders or Contracts, or any other commitments made on behalf of Customer. Any of the above actions may be taken without demand for Margin or additional Margin, without prior notice of sale or purchase or other notice to Customer, Customer’s personal representatives, heirs, executors, administrators, trustees, legatees, or assigns, and regardless of whether the ownership interest shall be solely that of the Customer or be held jointly with others. Customer shall at all times be liable for the payment of any deficit balance in Customer’s Account upon demand by DTC and, in all cases, Customer shall be liable for any deficiency remaining in Customer’s Account in the event of the liquidation thereof in whole or in part by DTC or by Customer.
In the event that the proceeds realized pursuant to liquidation are insufficient for the payment of all liabilities of Customer due to DTC,
Customer shall promptly pay upon demand the entire amount of any such deficit, together with all other deficits and all unpaid liabilities of Customer. Included are all costs of enforcement and collection, such as, but not limited to, actual attorneys’ fees, disbursements, travel and other expenses, interest on any such deficit and liabilities at a rate equal to five (5) percentage points above the then prevailing prime rate at DTC’s principal bank or the maximum interest rate allowed by law, whichever is lower and any other cost incurred by DTC. In the event DTC incurs expenses other than those for collection of deficits with respect to Customer’s Account, Customer agrees to pay all such expenses in full.
16. CHARGES
(a) DTC acts as a Principal and, in most instances, charges no Commissions. DTC may retain the difference between the purchase and sale price it pays on or receives from your transactions. DTC reserves the right to change its fee structure at any time at its sole discretion. DTC will charge for banking related fees, such as wire transfers for deposits/withdrawals. DTC will also charge for redemptions. DTC will also charge Customer for the purchase of optional, value added services offered by DTC.
(b) If no transactions have been executed in your account within 45 calendar days, your account will be currently charged with a dormant account management fee (the "Fee"). The fee will be deducted from your account balance and deducted $ 15 per month. If your account balance drops to zero after charging a fee, your account will be automatically archived.
17. CUSTOMERS WHO ARE INTRODUCED TO DTC BY AN INTRODUCING BROKER OR THIRD PARTY ADVISOR
If an Introducing Broker or third party advisor introduces the Customer to DTC, the Customer understands that DTC may pay fees, commissions or other compensation to such person or entity for the introduction. Customer acknowledges and agrees that as an Introducing Broker or third party advisor to DTC, the Introducing Broker or Third Party Advisor does not hold or collect any margined funds on behalf of DTC or for the Customer’s Account. Funds should instead be sent via a Wire transfer or other means directly to DTC for purposes of depositing into Customer’s margined Trading Escrow Account. DTC does not control and cannot endorse or vouch for the accuracy of any information or advice Customer may have or will receive from the Introducing Broker or third party advisor and Customer agrees that such Introducing Broker or third party advisor does not in any form or manner represent or act for or on behalf of DTC. Included in the information and advice without limitation are actual or implied promises made by the Introducing Broker regarding the future profit or losses in customer accounts as a result of third party trading systems, research reports, market trading advice or interpretation of economic news and events. If Customer receives information or trading advice from an Introducing Broker or third party, DTC shall in no way be held responsible for any loss resulting from the Customer’s use of such information or advice. DTC provides or otherwise makes available the DTC Risk Disclosure Statement and Additional Risk Disclosure Statement to Customers when they open accounts. Any Customer introduced by Introducing Brokers or Third Parties should carefully read the DTC Account Application, DTC Risk Disclosure Statement and Additional Risk Disclosure Statement and DTC Trading Rules and Regulations documents and should not rely on information supplied by the Introducing Broker or third party. Customer acknowledges and understands that margined spot Foreign Exchange and/or Precious Metals trading involves a high degree of risk and that many people lose money trading Foreign Exchange or Precious Metals. All Customers should understand that they should only trade risk capital funds when trading Foreign Exchange or Precious Metals. Risk Capital Funds are defined as funds, which if lost, would not change your or your family’s lifestyle.
Customer should also understand that Introducing Brokers or third party advisors may not be regulated by a regulatory authority. The Customer further understands and agrees that the Introducing Broker or third party advisor shall have the right to access information regarding the account of the Customer with DTC including but not limited to account information, Customer address, phone number, and e-mail address. The Introducing Broker or third party advisor will not have trade authorisation privileges unless granted in writing by the Customer. The Customer under all circumstances understands and agrees that the Introducing Broker and/or third party advisor is the Customer’s agent and not the agent of DTC.
18. INTRODUCING BROKERS RESPONSIBILITY TO DTC AND TO THEIR CLIENTS
Introducing Brokers have certain responsibilities to their introduced clients and to DTC with respect to their introduced accounts, including, without limitation: (1) communicating with their introduced clients regarding their respective investment objectives and investment opportunities given those objectives; (2) complying with all legal requirements, rules and regulations applicable to the introducing broker; (3) complying with all legal requirements, rules and regulations applicable to their introduced clients; and (4) determining any commission structure and communicating the structure to the introduced clients.
The Introducing Broker will not be responsible for: (1) Opening the introduced client’s Account including, but not limited to approving, servicing and monitoring Customer’s Accounts(s) and obtaining and verifying account information as is required by law; (2) Collecting funds from the clients for the purpose of facilitating margin Foreign Exchange and/or Precious Metals trading or satisfying margin requirements; (3) Executing transactions or accepting orders for the Customer’s Account(s), or performing any action that would cause or appear to cause a change in Customer’s position or Account Value, including but not limited to rolling over spot positions, liquidating positions, paying interest, requiring margin, or accepting additional funds or paying out funds to the Customer; (4) Providing any account statements to the Customers;
(5) Responding to complaints or inquiries.
19. STATEMENTS AND CONFIRMATIONS
Confirmation of trades will be made online as the trades are executed and should immediately be reflected in the Customer’s trading platform, including but not limited to, DTC Margin Monitor, DTC Open Positions window, DTC Spot Book, Account Statement Report and Trade History Report. Trades done over the telephone will be executed for the Customer’s Account on their behalf and also be reflected online in the DTC Margin Monitor, DTC Open Positions Window, DTC Spot Book, Account Statement Report and in their trade history report. Reports and all online position windows and statements of Accounts for Customer shall be deemed correct and shall be conclusive and binding upon Customer if not objected to by telephone immediately upon receipt and such objection is confirmed in writing within one (1) DTC business day after the transmission to Customer or if DTC does not change the confirmed execution price and details. DTC reserves the right to change confirmed rates, prices or trade details of executed and confirmed deals if DTC determines that the electronic or verbal price or details from that deal were executed in error. Margin calls or trade corrections shall be conclusive and binding unless objected to immediately by telephone or email. Failure to object shall be deemed ratification of all actions taken by DTC, or DTC’s agents prior to Customer’s receipt of said reports. Trades executed online will be confirmed online at the time of the trade and trades entered into by telephone will be confirmed verbally and online by the end of the DTC business day. Pending Orders or trades executed while the Customer is offline will be reflected in the Customers DTC Open Position window, in the DTC Margin Monitor, Account Statement Report and in their Trade History Report upon re logging into the DTC application or such other platform as DTC shall provide. Customer’s Account statements will be available online in the Reports section of the DTC Internet Trading Platform and Customer monthly statements will be available by e-mail, fax and/or mail. Customer’s failure to receive a trade confirmation shall not relieve Customer of the obligation to object as set out herein. Customer understands and acknowledges that oral information provided by DTC to Customer regarding confirmations of trades and statements of Account may be unverified and incomplete due to delays in transmission and other factors beyond DTC’s reasonable control. Customer therefore acknowledges and agrees that any reliance upon such oral information is at Customer’s risk and Customer further agrees to immediately bring to DTC’s attention any such oral information which Customer has reason to believe is inconsistent with Customer’s own information. No provision of this Customer Agreement shall operate to prevent DTC from correcting any error or omission upon discovery. The Customer agrees that such errors, whether resulting in a profit or loss, shall be corrected and Customer’s Account will be credited or debited in such manner and extent as to place the Customer’s Account in the same position in which it would have been had the error not occurred.
20. COMMUNICATIONS
Reports, statements, notifications and any other communications may be sent to the customer at the address specified herein, or to such other address as the customer may from time to time specify in writing to the DTC. All communications sent by mail, telegram, e-mail,
facsimile, courier, or otherwise shall be deemed to be DTC upon deposit of US mail or receipt by sending agent, Or communication or recording equipment designated by the customer or otherwise sent within the actual or presumed control of the customer, such communication shall be deemed to have been delivered to the customer in person, whether or not the customer has actually received it, The customer hereby waives all claims arising from the failure to receive such correspondence. All communications sent by the customer shall not be considered valid until accepted by the DTC. The customer should immediately notify DTC in writing of any change in the address of the customer, by email xxxx@xxxxx.xxx
21. FORCE MAJEURE
DTC shall not be liable to the Customer for any loss, cost, damage or expense sustained or incurred by the Customer, directly or indirectly, by reason of any cause beyond DTC’s control, including but not limited to, natural disasters, acts of God, civil unrest, war, insurrection, international intervention, governmental action (including, without limitation, exchange controls, forfeitures, nationalizations, devaluations), market conditions, inability to communicate with any relevant person or entity or any breakdown or failure of any transmission or communication system or computer facility, whether belonging to DTC, Customer or otherwise or of any market or any settlement or clearing system.
DTC will not be responsible for delays in the transmission of orders due to a breakdown or failure of transmission or communication facilities, electrical power outage or for any other cause beyond DTC’s control or anticipation. DTC shall only be liable for its actions directly attributable to gross negligence, willful default or fraud on the part of DTC. DTC shall not be liable for losses arising from the default of any other party used by DTC under this agreement.
22. TRADING RECOMMENDATIONS AND MARKET INFORMATION
Customer acknowledges, understands and agrees that (i) any market recommendations and information communicated to Customer by DTC or any Introducing Broker introducing clients to DTC do not constitute an offer to sell or the solicitation of an offer to buy any Foreign Currency and/or Precious Metals Contract; (ii) such recommendations and information, although based upon information obtained from sources believed by DTC to be reliable, may be incomplete and may be unverified; and (iii) DTC makes no representation, warranty or guarantee as to, and shall not be responsible for, the accuracy or completeness of any information or trading recommendation furnished to Customer; and (iv) Customer further acknowledges that, should Customer grant trading authority or control over Customer’s Account to a third-party (authorised agent), whether on a discretionary or non-discretionary basis, DTC shall in no way be responsible for reviewing Customer’s choice and neither for making any recommendations with respect thereto.
Customer acknowledges that Customer has no separate agreement with Customer’s broker or any DTC employee or agent regarding the trading in Customer’s DTC account, including any agreement to guarantee profits or limit losses in Customer’s account. The Customer understands that Customer is under an obligation to notify DTC’s compliance officer immediately in writing as to any agreement of this type. Further, Customer understands that any representations made by any one concerning Customer’s account that differ from any statements Customer receives from DTC must be brought to the attention of DTC’s Compliance Officer immediately in writing. The Customer understands that Customer must authorize every transaction prior to its execution unless Customer has delegated discretion to another party by signing DTC’s limited power of attorney and any disputed transactions must be brought to the attention of DTC’s compliance officer pursuant to the notice requirements of this Customer Agreement. Customer agrees to indemnify and hold DTC harmless from all damages or liability resulting from Customer’s failure to immediately notify DTC’s Compliance Officer of any of the occurrences referred to herein. All notices required under this section shall be sent to DTC.
23. INTELLECTUAL PROPERTY AND CONFIDENTIALITY
All copyright, trademark, trade secret and other intellectual property rights in the DTC Internet Trading Platform (“DITP”), an online trading system, or such other platforms as DTC may provide, shall remain at all times the sole, exclusive and absolute property of DTC or ,as the case may be and Customer shall have no right or interest in the DITP except for the right to access and use the DITP as specified herein. The Customer agrees and warrants that Customer will protect the confidentiality of DTC at all times by allowing access to the DITP only by its employees and agents on a need to access basis. Customer will not publish, distribute, or otherwise make any information available to third parties derived from or relating to the DTC Internet Trading Platform. Customer will not copy, modify, de-compile, reverse engineer, alter or make derivative works of the DTC Internet Trading Platform or the manner in which it operates. Any violation of the above shall be subject to prosecution under the laws.
24. INDEMNIFICATION
Customer agrees to indemnify and hold harmless DTC, its affiliates, officers, employees, agents, successors and assigns from and against
any and all liabilities, losses, damages, costs and expenses, including attorney’s fees, incurred by them or any of them arising out of Customer’s failure to fully and timely perform Customer’s agreements herein or should any of the representations and warranties made by Customer herein or at any time fail to be true and correct. Except as otherwise expressly stated herein, Customer also agrees to pay promptly to DTC all damages, costs and expenses, including attorney’s and other professional fees, incurred by DTC in the enforcement of any of the provisions of this Customer Agreement, any other agreements between DTC and Customer, and any Contracts and other transactions hereunder.
25. DISCLOSURE AND FINANCIAL INFORMATION
You represent and warrant that the financial information disclosed to DTC in this document and any and all documents provided by you in connection with the your account is an accurate representation of your current financial condition, trading experience and the level of investment sophistication. You additionally represent to DTC that the information provided by you in connection with this Customer Agreement is full, complete and accurate and DTC is entitled to rely on this information until DTC receives actual written notice from you of any change in such information. You represent and warrant that you have very carefully considered the portion of the your Assets which you deem to be Risk Capital; the Customer recognises that Risk Capital is the amount of money you are willing to put at risk and if lost would not, in any way, change your life style or otherwise materially effect you .
DTC will not share or sell information regarding its Customers and/or prospective customers, except to its officers, employees, agents, affiliates, partners, and associates as reasonably required in the ordinary course of DTC’s business, including, but not limited to, DTC’s banking or credit relationships. DTC shall disclose to a court of law, regulatory authorities, law enforcement authorities, a magistrate in the cause and for the purposes of any preliminary criminal proceedings (in general) and authorities whose remit includes the prevention and/or assistance in connection with the suspicion, of money laundering and of the financing of terrorism, information regarding Customer and Customer’s transactions in response to a request for such information where DTC is duty-bound to do so by law or by order of a competent court.
26. JOINT ACCOUNTS AND LEGAL ENTITY ACCOUNTS
If more than one (1) natural person as the Customer executes this Customer Agreement, all such natural persons agree to be jointly and severally liable for the obligations assumed in this Customer Agreement. If this Customer Agreement is executed on behalf of a corporation, limited liability company, trust, partnership, unincorporated association or other non natural person as Customer, the Customer hereby agrees to indemnify, defend, save and hold harmless DTC for any losses, claims, costs, damages and expenses resulting directly or indirectly from breach of any fiduciary or similar duty or alleged breach thereof.
If this account is held by more than one (1) person, all of the joint holders are jointly and severally liable to DTC for any and all obligations arising out of transactions in the account and agree to be bound by all terms and conditions of this Customer Agreement signed by each party. DTC is authorised to accept instructions and to send confirmations to any one (1) of the joint owners, and each Customer hereby further appoints any and all of other said joint owners as Customer’s agent for any and all matters relating to the said joint account, including but not limited to the receipt of confirmations and hereby waives any right to receive confirmations otherwise. Any one (1) or more of the joint owners shall have full authority for the joint account and risk in the said joint account.
If this account is a joint account, in the event of the death of any of the Customers, the survivor(s) shall immediately give DTC written notice thereof, and DTC, before or after receiving such notice, may take such action, institute such proceedings, require such papers, retain such portion of the account, and restrict transactions in the account as DTC may deem advisable to protect DTC against any tax, liability, penalty, or loss under any present or future laws or otherwise. The estate(s) of any of the Customers who shall have died shall be liable, and the survivor(s) shall continue to be liable, to DTC for any debit balance or loss in the account in any way resulting from the completion of transactions initiated prior to the receipt by DTC of the written notice of the death of the particular Customer, or incurred in the liquidation of the account, or the adjustment of the interests of the respective parties.
27. REFERRAL DISCLOSURE
DTC IS A WHOLLY SEPARATE AND INDEPENDENT ENTITY FROM ANY INTRODUCING BROKER WITH WHICH DTC HAS A BUSINESS RELATIONSHIP. THE CLEARING AGREEMENT BETWEEN DTC AND AN INTRODUCING BROKER DOES NOT ESTABLISH A JOINT VENTURE OR PARTNERSHIP AND ANY SUCH INTRODUCING BROKER IS NOT AN AGENT OR EMPLOYEE OF DTC.
(a)DTC does not control, and cannot endorse or vouch for the accuracy or completeness of any information Customer may have received or may receive in the future from the Introducing Broker or from any other person not employed by DTC regarding Foreign Currency and/or Precious Metals trading or the risks involved in such trading.
(b)DTC provides risk disclosure information to all new Customers when they open accounts. Customers should read that information carefully, and should not rely on any information to the contrary from any other source.
(c)Customer acknowledges that no promises have been made by DTC or any individual associated with DTC regarding future profits
or losses in Customer’s account. Customer understands that trading involves a substantial risk of loss and that many people lose money trading.
(d)If an Introducing Broker or any other third party provides Customer with information or advice on Foreign Currency, Precious Metals or exchange trading, Customer agrees that DTC shall in no way be responsible for any loss to Customer resulting from Customer’s use of such information or advice.
(e)To the extent Customer has previously been led to believe or believes that utilizing any third party trading system, course, program, research or recommendations provided by an Introducing Broker or any other third party will result in trading profits, Custom er hereby acknowledges and understands that all Foreign Currency, Precious Metals and exchange trading, including trading done pursuant to a system, course, program, research or recommendations of an Introducing Broker or another third party involves a substantial risk of loss. In addition, Customer hereby acknowledges, agrees and understands that the use of a trading system, course, program, research or recommendations of Introducing Broker or another third party will not necessarily result in profits, avoid losses or limit losses.
(f)Customer understands that Introducing Broker and many third party vendors of trading courses, programs, research or recommendations are not regulated by a government agency or regulatory authority.
(g)Because the risk factor is high in Foreign Currency or Precious Metals transactions trading, only genuine “risk” funds should be used in such trading. If Customer does not have the extra capital Customer can afford to lose, Customer should not trade in the Foreign Currency and/or Precious Metals markets.
(h)Customer understands and acknowledges that DTC may compensate an Introducing Broker for introducing Customer to DTC and that such compensation may be on a per-trade basis or other basis. Such compensation to the Introducing Broker may require the Customer to incur a xxxx up above and beyond the ordinary spread generally provided by DTC. Further, the Customer has a right to be informed of the precise nature of such remuneration.
(i)Customer understands and agrees that if Customer’s account with DTC is introduced by an Introducing Broker, that an Introducing Broker shall have the right to access Customer’s DTC account, but the Introducing Broker shall not have the right to enter into any trades on Customer’s DTC account, unless authorised by the Customer under a power of attorney between Customer and an Introducing Broker granting such an Introducing Broker the right to trade on Customer’s account.
28. AMENDMENTS
Customer understands, acknowledges and agrees that DTC may amend or change this Customer Agreement, including the Annexes hereto, at any time and that Customer’s account shall be subject to such changes. DTC will provide notice to Customer of any such amendment or change by sending an e-mail message to Customer or by posting the amendment or notice of change on DTC Website (xxx.xxxxx.xxx). Customer agrees to be bound by the terms of any such amendment or change on the earlier of: (i) ten (10) days after DTC has posted notice of such amendment or change on its website; or (ii) on the date of the entry of any Order other than a liquidating order. In the event that Customer objects to any such change or amendment, Customer agrees to liquidate Customer’s Open Positions and instruct DTC regarding the disposition of all assets in Customer’s Account within ten (10) days after notice of the amendment or change has been posted to the Website. No waiver or amendment of this Customer Agreement may be implied from any course of dealing between the parties or from any failure by DTC or its agents to assert its rights under this Customer Agreement on any occasion or series of occasions. No oral agreements or instructions to the contrary shall be recognized or enforceable.
29. TERMINATION
This Customer Agreement shall continue in effect until termination, and may be terminated by Customer at any time when Customer has no open Foreign Currency and/or Precious Metals Positions and/or no liabilities held by or owed to DTC, upon the actual receipt by DTC of written notice of termination. This agreement may be terminated by DTC at any time whatsoever upon the transmittal of written notice of termination to Customer; provided that such termination shall not affect any transactions previously entered into and shall not relieve either party of any of those obligations set forth in this Customer Agreement which are applicable even after termination of the Customer Agreement. Any such notice of termination by DTC shall not relieve Customer of any obligations arising out of any deficit balance.
30. DATA PROTECTION
30.1 Personal data, whether sensitive or otherwise, disclosed to DTC from time to time will be recorded in a database and processed according to the requirements of DTC for the purposes of providing the services contemplated in this agreement, for consultancy and advisory services, direct marketing (such as informing you by mail, telephone, fax, e-mail or other means, about other products and services supplied by DTC and any subsidiaries, associates, agents or clients thereof and by other carefully selected third parties) and/or any other purpose that may be necessary for the execution of your instructions to DTC from time to time. Should the Customer not wish to have such personal data processed for direct marketing purposes, Customer is requested to advise DTC . accordingly in writing. The Customer is hereby giving his explicit consent to the processing of personal data as contemplated in and for the purposes provided for in this Clause.
30.2. In the course of providing the Customer with the services contemplated under this Agreement, DTC may need to disclose some or all of the Customer’s personal data, whether sensitive or otherwise,to its employee/s, associate/s, agent/s, sub-contractor/s, product provider/s and/or investment institution/s, (all of which shall be made subject to such confidentiality and data protection obligations as shall be considered necessary by DTC in order to comply with its obligations under this Agreement) for the purpose of providing the said services and/or to any regulatory or public authorities to comply with its regulatory or other obligations in terms of law, and for these purposes the Customer explicitly consents to the transfer of his/her personal data, whether sensitive or otherwise to other countries in accordance with the Data Protection Act and the regulations made thereunder. The Customer is hereby giving his explicit consent to the processing of personal data, whether sensitive or otherwise, as contemplated in and for the purposes provided for in this Clause.
30.3. In terms of the Data Protection Act, the Customer is entitled to request DTC to inform the Customer in respect of the personal data held about him/her that is processed and to request its correction, updating or amendment, where necessary. Whilst DTC may request the Customer to reconfirm his/her personal data from time to time, the Customer must notify DTC immediately in writing if such data has changed.
31. PREVENTION OF MONEY LAUNDERING
DTC has a legal obligation to comply with the provisions of the Prevention of Money Laundering Act and regulations made thereunder. In furtherance of such obligations in the event that DTC has a suspicion of money laundering or funding of terrorism in relation to the assets deposited by the Customer it will be obliged to communicate its suspicions to the competent FINRA Authorities. DTC could also be required to, inter-alia, block the assets of the Customer concerned.
The Customer acknowledges that DTC is bound to comply with the provisions of the Prevention of Money Laundering Act and regulations made thereunder and agrees to provide DTC on request, with true, correct and complete information including without limitation, the identification of the contracting parties, the identification of the beneficial owner of the assets, and details on the economic and business background and rationale of the business as well as any other information DTC may reasonably require to comply with its legal obligations.
32. ENTIRE CUSTOMER AGREEMENT
This Customer Agreement, together with the full Customer Account Application, DTC Trading Rules and Regulations, Risk Disclosure Statement, Additional Risk Disclosure Statements, the Acknowledgement Concerning EMIR Risk Mitigations Procedures and all applicable written Addenda thereto, embodies the entire agreement of the parties, superseding any and all prior written and oral agreements.
33. RECORDINGS
Customer acknowledges and agrees that any and all conversations between customer and DTC personnel, including but not limited to principals, agents, employees or associates, may at the sole option and discretion of DTC, be recorded electronically with or without the use of an audible, automatic warning tone. Customer further agrees to the use of such recordings and transcripts thereof as evidence by either Party in connection with any dispute or proceedings that may arise involving Customer or DTC. Customer understands that DTC destroys such recordings at regular intervals in accordance with DTC established business procedures and at its sole discretion, and Customer hereby consents to such destruction.
33.2 Any such recordings or transcripts made by DTC may be destroyed by DTC at its own discretion and in accordance with its own practice and policies.
34. BINDING EFFECT
This Customer Agreement shall be continuous and shall cover, individually and collectively, all Accounts of Customer at any time opened or re-opened with DTC, irrespective of any change or changes at any time in the personnel of DTC or those of its successors, assigns, or affiliates. This Customer Agreement, including all authorisations, shall inure to the benefit of and be binding on DTC and its successors and assigns, whether by merger, consolidation, or otherwise, and shall be binding upon Customer and/or the estate, executor, trustees, administrators, legal representatives, successors and assigns of Customer. Customer hereby ratifies all transactions with DTC affected prior to the date of this Customer Agreement, and agrees that the rights and obligations of Customer in respect thereto shall be governed by the terms of this Customer Agreement.
35. LAW AND JURISDICTION
This Customer Agreement shall be governed by, and construed in accordance with the laws of UK without giving effect to its conflict of laws provisions. With respect to any suit, action or proceeding (“Proceeding”) relating to this Customer Agreement, the Customer hereby irrevocably (i) submits to the jurisdiction of the Courts of UK, including but not limited to in those cases where the Customer is domiciled or resident abroad; (ii) waives any objection which Customer may have at any time to the laying of venue of any Proceeding brought in any such court and; (iv) waives any claim that such Proceeding has been brought in an inconvenient forum. However without prejudice to and notwithstanding the foregoing, DTC reserves the right to file an action in the country of domicile and/or residence of the Customer or before any other competent court, in which case UK law (without giving effect to conflict of laws provisions) will still apply and in which case the Customer waives any objection which Customer may have at any time to the laying of venue of any Proceeding brought in any such court and waives any claim that such Proceeding has been brought in an inconvenient forum.
36. SEVERANCE
If any provision or part thereof of this Agreement is declared by any judicial authority to be void, voidable, illegal or otherwise unenforceable it may be severed from this Agreement that shall otherwise remain in full force and effect and binding on each party hereto.
37. SUPERSEDES PRIOR AGREEMENTS
This Agreement supersedes any prior agreement or understanding between the parties hereto, whether written or oral, on the subject hereof, and any such prior agreements and understandings are cancelled as at the date hereof.
38. ACCEPTANCE OF THE CONTRACT
This Customer Agreement shall be accepted by DTC and will become a legally binding contract between Customer and DTC when the Customer Application is accepted by DTC, and when all documents comprising the Customer Agreement, including the Customer Agreement, DTC Risk Disclosure Statement, Additional Risk Disclosure Statement, DTC Trading Rules and Regulations and the Acknowledgement Concerning EMIR Risk Mitigating Procedures, are acknowledged by, signed by the Customer, and accepted by DTC. The opening of the particular Customer’s account on its books and records by DTC and issuing the Customer with a live User ID and password shall constitute DTC’s acceptance of the Customer Agreement. The English language version of the Customer Agreement, Risk Disclosure, and Trading Rules and Regulations are the controlling documents for all purposes including dispute resolution.