Re: Amendments to the Client Agreement for Stock Options Trading 30 November 2021
尊敬的客戶 :
有關: 《股票期權交易客戶協議書》 的修訂 2021 年 11 月 30 日
茲通知 閣下，本公司已如本通告的附件（“附件”）所示對《股票期權交易客戶協議書》作出了修訂，有關修訂即日生效。
新修訂之《股票期權交易客戶協議書》序列編碼為OPT202111，可於本公司的網站 (xxx.xxxxx.xxx) 下載， 閣下亦可致電本公司之客戶服務部（電話 (000) 0000-0000）索取修訂後的《股票期權交易客戶協議書》。
請 閣下細閱附件及新修訂之《股票期權交易客戶協議書》，並在有需要時徵詢專業意見。本公司不會提供法律或稅務的意見。
倘 閣下不同意是次修訂，請於2021年12月14日或之前以書面通知本公司。否則， 閣下將被視為同意及接受新修訂之《股票期權交易客戶協議書》，並受其約束。
國泰君安證券(香港)有限公司此函由電腦列印，無需簽署。
Dear Client:
Re: Amendments to the Client Agreement for Stock Options Trading 30 November 2021
Please be informed that the Client Agreement for Stock Options Trading has been amended as shown in the annex to this notice (“the Annex”) with immediate effect.
The latest Version Series Number of the Client Agreement for Stock Options Trading is OPT202111. It can be obtained from our website: xxx.xxxxx.xxx. Alternatively, you may contact our Customer Services Department at (000) 0000-0000 to obtain a copy
Please read the Annex and the revised Client Agreement for Stock Options Trading carefully and seek professional advice where necessary. Please note that we will not offer legal or tax advice.
If you do not accept the amendments, you must notify us in writing of your objection on or before 14 December 2021. Otherwise, you will be deemed to have agreed to and be bound by the revised version of the Client Agreement for Stock Options Trading.
Guotai Junan Securities (Hong Kong) Limited
This is a computer printout, no signature is required.
1
序列編碼：OPT20210811
本協議由下列雙方訂立之日起即行生效。
(A) 國泰君安證券（香港）有限公司（以下稱「國泰君安證券」）其註冊辦公地址爲香港中環皇后大道中 181 號新紀元廣場低座 27 樓，與
(B) 以下簽署客戶（以下稱「客戶」），其姓名和住址參見證券（就本協議書之目的而言，證券包括期權）交易開戶申請表格的簽署頁。
鑒於
1. 國泰君安證券為：-
(a) 香港證券及期貨事務監察委員會（「證監會」）持牌法團（中央编碼爲 ABY236），❹進行(1)證券交易（包括為客戶提供取得或持有證券的財務通融）; (2)就證券提供意見等受規管活動; 及(3)期貨合約交易（只可就其作為在認可證券市場上市的產品發行人之活動進行以對沖為目的之期貨合約交易）; 及
(b) 香港聯合交易所有限公司（「聯交所」）註冊聯交所參與者及期權交易所參與者。
2. 本協議書作為國泰君安證券與客戶簽立的「證券交易客戶協議書」（以下稱「客戶協議書」）的補充文件，應與其一併閱讀。若該「客戶協議書」與本協議書的條文有任何衝突，概以本協議書的條文為準。
3. 鑒於國泰君安證券同意為客戶開立期權交易帳戶，❹以客戶的名義為客戶進行股票期權交易活動，客戶同意❹遵守以下共同商定的各項條款和條件。
雙方達成以下協議：
1. 定義和解釋
1.1. 於本協議內，除明文訂明另有所指外，本協議內之定義詞彙與客戶協議書內的定義相同。
1.2. 在客戶協議書內對「帳戶」的指稱的涵義包括根據本協議開立的期權交易帳戶。
1.3. 在本協議中，以下術語將具有如下意義：
「AEOI」或「自動交換財務帳戶資料」，指（按文意所需）任何一個或多個以下意義：(i)FATCA（外國帳戶稅收合規法案）；(ii)經濟合作與發展組織（OECD）之自動交換財務帳戶稅務資料之標準-共同申報準則及任何相關指引；(iii)為實施、遵循或補充上列(i)或(ii)所指的法例、規則、指引或標準，香港與其他司法權區（包括與每個司法權區內之任何政府機構）訂立的跨政府協議、條約、規則、指引、標準或其他安排；及(iv)為使上述事情產生效力而在香港制訂之法例、規則或指引。
「關聯方」指，就國泰君安證券而言，任何由國泰君安證券直接或間接控制的實體，任何直接或間接控制國泰君安證券的實體，或與國泰君安證券直接或間接處在共同控制下的實體。為此目的，對任何實體或個體的「控制」指擁有該實體或個體的大部分投票權。
「客戶款項常設授權」指由客戶按照載於第16條內可不時修訂的條款賦予本公司的常設授權。
「客戶證券常設授權」指由客戶按照載於第16條內可不時修訂的條款賦予本公司的常設授權。
「國泰君安集團」指國泰君安證券及其關聯方。
1 倘申請人需要本協議的英文版本，請向我們的工作人員索取。
「FATCA」或「外國帳戶稅收合規法案」（Foreign Account Tax Compliance Act） 指(i)1986年美國國內稅收法則第1471至1474條及其關聯的法規或其他官方指引；(ii)為有助於實施上列(i)所指的法例或指引在其他司法權區所制定的，或與美國與其他司法權區簽訂的跨政府協議相關的條約、法例、法規或其他官方指引；(iii)為實施上列(i)或(ii)所指的法例或指引而與美國稅局，美國政府或其他司法權區的政府或稅局訂立的協議。
「香港交易所」指香港交易及結算所有限公司。
「香港結算」指香港中央結算有限公司。
「控股公司和子公司」指將分別具有《公司條例》（香港法例第622章）第15節所賦予的意義。
「指令」指客戶以口頭，通過電子交易服務系統，或其他國泰君安證券許可的方式發出的任何交易、處理或交收期權的指令（包括任何後續的且被國泰君安證券接受的修正或取消指令）。
「投資者賠償基金」指根據《證券及期貨條例》而設立的賠償性基金。
「保證金」指國泰君安證券不時根據本協定要求客戶以指定貨幣提供的一定數額的現金或其他抵押品，作為有關合約的保證金，價格變動調整或資金調整。
「期權」或「期權合約」指一方給予另一方可在特定的日期或在之前行使，按約定價格獲取或處置（視情況而定）特定數量的證券的權利（但❹非義務）的股票期權合約。
「規則」指相關政府、交易所、監管機構或結算所適用於國泰君安證券處理客戶帳戶的適用法律、規則和規例或客戶發出指令所在地的相關政府、交易所、監管機構或結算所的適用法律、規則和規例，包括但不限於《證券及期貨條例》、證監會頒發的《證券及期貨事務監察委員會持牌人或註冊人操守準則》及聯交所規則（包括聯交所違約程序、『期權交易規則』及『期權買賣交易所參與者運作程序』、聯交所期權結算所『期權結算規則』及『期權買賣交易所參與者結算運作程序』、『中央結算系統一般規則』）以及紐約證券交易所、證監會、美國金融業監管局及期權結算公司的其他規則和規例（包括其任何修訂、補充、變更或修改）。
「聯交所」指香港聯合交易所有限公司。
「聯交所期權結算所」指香港聯合交易所期權結算所有限公司。
1.4. 代表單數的詞語應包括其複數所指，反之亦然；性別指稱應包括所有性別；任何指稱個人，國泰君安證券，客戶的詞語應包括自然人，事務所或獨資企業，合夥制企業和公司，反之亦然。
2. 共同帳戶
2.1. 如帳戶由兩個或以上人士共同擁有，客戶聲明客戶為共有人及對共有產業有相互繼承之繼承權。客戶的責任應為共同和單獨的責任。當某一客戶或任何客戶去世時，為客戶開立之任何帳戶的整個權益應按本協議的條款轉歸仍在生者。
2.2. 客戶中的任何一人有權行使其根據本協定具有的所有權利，支配權和酌情決定權，❹以帳戶持有人的身份單獨與國泰君安證券接觸，無須通知其他人。而國泰君安證券可以執行其中任何人發出的與帳戶相關的指令，且無義務查詢共同帳戶持有人之間資金的使用狀況。
3. 適用規則和規例
3.1. 為客戶帳戶進行的所有期權合約均須遵守本協議書的條款和條件及規則。就按客戶指令而達成的期權合約而言，有關規則對國泰君安證券和客戶均具有約束力。
3.2. 帳戶資料
(a) 國泰君安證券通常會盡力對客戶和帳戶相關資料保密，但為了遵守有關規則或向客戶提供服務，國泰君安證券可能須披露客戶和帳戶相關資料。客戶同意向國泰君安證券提供有關資料，❹同意
國泰君安證券向相關政府、交易所、結算所、監管機構或其他必要當事人提供該等資料，以滿足其知情要求或請求。客戶不可撤銷地授權國泰君安證券作出任何該等披露。
(b) 倘國泰君安證券使用另一經紀商、服務提供商、代理或實體（可為關聯方），以根據本協議執行客戶指令或向客戶提供服務，客戶授權國泰君安證券（於必要時，包括但不限於為履行經紀商或實體於有關規則項下的責任或為向客戶提供服務）向相關經紀商或實體提供客戶和帳戶相關資料。
3.3. 建議的適當性：國泰君安證券網站上的任何內容均非購買或出售期權合約的建議或招攬。國泰君安證券的代表可能就期權合約提供投資或交易建議或進行訂單招攬，其如此行事時須以遵守適用規則為限。倘國泰君安證券針對客戶進行任何期權合約銷售招攬或推薦任何期權合約，必須針對客戶的財務狀況、投資經驗及投資目標合理選擇適用於該客戶的期權合約。本協議的其他條文或國泰君安證券可能要求客戶簽署的任何其他文件，及國泰君安證券可能要求客戶作出的任何聲明概不會減損本條款。
4. 期權交易
4.1. 客戶同意有關期權系列之期權合約（包括期權交易規則所界定的標準合約（定義見期權交易規則）的條款，將適用與國泰君安證券和客戶訂立之各份期權合約，❹且所有期權合約須依照規則予以訂立、行使、結算及撤銷。期權結算公司有權根據規則調整合約條款而國泰君安證券須知會客戶由期權結算公司作出
❹影響期權合約（當客戶為合約訂立方）之任何條款之調整。
4.2. 國泰君安證券可全權酌情於任何時候限制客戶之未平倉盤（淨倉或總倉）或交收責任。客戶同意：-
(a) 不進行任何可能超過有關持倉限額的交易，且國泰君安證券可能須為期權合約平倉或轉倉，以遵從所施加之持倉限額；
(b) 國泰君安證券可於任何時候進行平倉或抵銷交易來減少未平倉盤，或要求客戶減少於國泰君安證券處所持有的未平倉盤；
(c) 國泰君安證券可基於任何理由拒絕接受任何建倉命令；
(d) 國泰君安證券可施加及執行相關限制、減倉或拒絕，而不論有關規則、聯交所或相關交易所的規定是否要求進行該等限制、減倉或拒絕；及
(e) 倘若國泰君安證券違約，根據聯交所或其他相關交易所制定之違約程序，期權合約可能會被平倉或由客戶與另一期權交易所參與者或經紀商之期權合約取代。
4.3. 就香港上市期權合約而言：
(a) 聯交所期權結算所有權根據有關規則對期權合約的條款作出調整，而國泰君安證券須將聯交所期權結算所對期權合約條款作出的任何會影響客戶所訂立的期權合約的調整通知客戶。
(b) 有關期權系列之標準合約（定義見期權交易規則）的條款須適用於國泰君安證券與客戶訂立的每份期權合約。
(c) 應客戶之書面要求，國泰君安證券可同意根據規則將與客戶訂立之期權合約由客戶與另一期權交易所參與者之期權合約取代。
(d) 儘管所有期權合約將會在聯交所執行，惟客戶確認，根據期權合約，客戶及國泰君安證券須以主事人身份訂約。
(e) 國泰君安證券可應客戶要求及依照客戶指示，要求客戶之期權合約轉倉予另一期權交易所參與者。客戶同意，在國泰君安證券收到該等請求後，國泰君安證券與客戶之任何期權合約將按期權交易規則及本協議之施行，即時更替為一份新期權合約，合約條款與原客戶成交條款相同，另一期權交易所參與者與客戶為該等期權合約之主事人。若客戶之要求未獲接受，則原期權合約仍然完全有效，猶如客戶未曾要求作出轉倉安排。
(f) 任何聯交所交易之期權合約均須繳納投資者賠償基金徵費及根據《證券及期貨條例》所收取的徵費，上述兩項費用須由客戶承擔。客戶明白如客戶因國泰君安證券違責而蒙受金錢損失，投資者賠償基金所承擔的法律責任只限於《證券及期貨條例》及有關附屬法例內所規定的有效索償，❹須受制於《證券及期貨(投資者賠償－賠償限額)規則》（香港法例第 571AC 章）內所訂明的金額上限，因此不能保證客戶在因該等違責而蒙受的任何金錢損失可以從投資者賠償基金中獲得全數，部份或任何賠償。
5. 指令和交易
5.1. 指令可以口頭、書面或電子形式作出。國泰君安證券有權依賴任何據稱或國泰君安證券真誠地相信是由客戶所作出的任何指令❹據此行事。
5.2. 除非客戶向國泰君安證券發出且國泰君安證券已接受特定的指令，客戶同意所有與其帳戶相關的命令，指令或要求僅於當日有效，且在相關交易所的正式交易時段結束時失效。
5.3. 國泰君安證券可全權酌情在無需給予客戶事先通知且無需任何理由的情況下拒絕接受客戶的任何指令，限制或禁止客戶帳戶的交易，或終止客戶使用國泰君安證券的服務。在這一情況下，國泰君安證券將會盡力就此知會客戶，但無論如何國泰君安證券將毋須對客戶因國泰君安證券拒絕執行其指令或終止提供服務或遺漏向客戶作出知會而導致或招致的任何利潤或盈利的損失、損害、責任、費用或開支而負任何責任。
5.4. 為執行客戶之任何指示，國泰君安證券可依據其全權決定之條款和條件，與或透過任何其他代理人、服務提供商或經紀商（包括以任何形式與國泰君安證券有聯繫之任何人士或一方當事人）訂立合約或以其他方式建立關係。
5.5. 除非另行確認，國泰君安證券須以代理人身份執行客戶指示。國泰君安證券可以本人身份執行客戶指示。國泰君安證券可使用另一經紀商或關聯方執行指示，且彼等享有國泰君安證券於本協議項下的所有權利。國泰君安證券將選擇向有關市場和交易商傳輸客戶指示。國泰君安證券無法保證每項指示均可以最佳的公佈價格執行；國泰君安證券可能無法進入每個市場或與每個交易商取得聯繫；其他指示可被先行交易；中央市場可能不認可公佈價格或可能重新傳輸指示以進行人工處理；市場規則、決定或系統故障可能阻止╱延遲客戶指示的執行，或導致指示無法獲得最佳價格。客戶知悉其可能無法取消或修改指示，且即使已發出取消或修改要求，客戶仍須對有關執行結果負責。
5.6. 在受適用法律、規例和市場要求制約之前提下，國泰君安證券在充份考慮客戶指令的接收先後次序後，可絕對酌情決定執行指令之優先次序。而客戶不得就國泰君安證券執行客戶指令的優先次序提出任何申索。
5.7. 客戶知悉❹同意，就香港上市期權合約而言，國泰君安證券可以行使其絕對酌情權，於香港交易所衍生產品結算及交收系統內「客戶按金對銷帳戶」中扣除客戶持倉應付的按金。
5.8. 客戶明白聯交所、聯交所期權結算所或其它相關交易所或結算所對提交行使指令設有截止時間，而且在截止時間之前還沒有發出行使指令的期權會變得毫無價值。客戶也明白，除非客戶另有指示，聯交所或聯交所期權結算所將會自動行使某些「價內」期權。客戶確認對其行使或不行使期權合約的行為承擔完全的責任。 除非收到客戶的明確指令，國泰君安證券無須對期權合約採取任何行動，包括但不限於在到期日之前行使有價值的期權或阻止對期權自動行使的任何行為。客戶進一步明白，國泰君安證券訂立的截止行使時間可能早於聯交所、聯交所期權結算所或其它相關交易所或結算所訂立的截止時間。
5.9. 客戶同意監控每項指示，直至國泰君安證券確認或取消執行該指示。客戶知悉，對執行或取消執行指示的確認可能會發生延遲、錯誤或被交易所取消或調整。倘實際執行結果與客戶指示一致，則客戶須對指示的實際執行結果負責。倘國泰君安證券確認執行或取消執行指令發生錯誤，而客戶延遲報告有關錯誤，則國泰君安證券保留從帳戶中取消該交易或要求客戶接受該交易的權利，具體由國泰君安證券酌情決定。
5.10. 在以下情況下，客戶同意即刻知會國泰君安證券：(i)客戶未收到有關指示被執行或取消執行的準確確認； (ii)客戶收到的確認與客戶的指示不一致；(iii)客戶收到對其❹未下達的指示的確認；或(iv)客戶收到的帳戶報告、確認通知或其他資料未准確反映指示、交易、結餘、倉盤、保證金狀況或交易歷史。
5.11. 客戶知悉，國泰君安證券可對客戶帳戶進行調整，以糾正任何錯誤。客戶同意立即將錯誤分配給客戶的任何資產返還給國泰君安證券。
5.12. 根據所有相關規則的規定，客戶授權國泰君安證券執行其自身及其附屬機構的自營交易，儘管國泰君安證券可能同時接獲客戶針對同一產品同一價格的未執行指示。
5.13. 國泰君安證券、其附屬機構及其各自的董事及╱或雇員可能為其自身帳戶進行交易，且根據所有相關規則的規定，國泰君安證券及其附屬機構可能就任何證券、期貨及期權的倉盤與客戶所做指示進行對盤交易（不論為國泰君安證券或其附屬機構自身的帳戶或國泰君安證券其他客戶的帳戶進行交易）。
5.14. 於到期前的最後一個交易日開始之前，客戶同意因其帳戶❹無或可能❹無足夠權益以於到期時行使（或出讓）帳戶所持有的任何長倉或短倉期權倉盤或其他權利倉盤，而對其帳戶所持有的有關倉盤進行清算或平倉❹持有清算或平倉後的倉盤。客戶知悉，隨著長倉或短倉期權臨近到期，而帳戶❹無或可能❹無足夠權益以持有有關倉盤，會使客戶及國泰君安證券面臨嚴重風險（包括有關產品於到期至下一次開市期間的市場變動風險）。倘客戶於到期前的最後一個交易日開始之前尚未對有關長倉或短倉期權或其他權利倉進行平倉，且倘國泰君安證券全權酌情確定帳戶於到期後❹無或可能❹無足夠權益以持有有關倉盤，則國泰君安證券有權全權酌情採取下列任何或所有行動，而國泰君安證券及其客戶不得因下列任何或所有事宜而產生的損害或利潤損失要求賠償：a)國泰君安證券可於到期前對部分或全部期權或權利倉進行清算；b)國泰君安證券可於到期時取消部分或全部期權（甚至價內期權）；及c)國泰君安證券可允許行使或出讓部分或全部期權，然後再對剩餘的部分或全部倉盤進行清算。
5.15. 授權
客戶授權國泰君安證券採取國泰君安證券合理認為為了本協議的目的而必要或恰當的任何行為（特此明確，包括為保護國泰君安證券的地位而必要或恰當的任何行為），包括但不限於代表客戶簽署任何文件，
❹且客戶承諾不會因為該等行為而對國泰君安證券提起任何訴訟或程序。
6. 佣金和費用
6.1. 鑒於國泰君安證券同意代表客戶為其帳戶進行或訂立期權合約，客戶同意按國泰君安證券不時根據其確定的基礎決定❹通知客戶的適用于其帳戶的費率，向國泰君安證券支付佣金。此外，客戶須應國泰君安證券的要求即時支付或付還所有國泰君安證券因其代客戶訂立任何買入或沽出期權合約的交易或履行任何國泰君安證券於本協議下的義務所招致的所有佣金費用、經紀費、徵費、費用、關稅及稅項及所有其他收費及支出。所有該等數額可從帳戶及客戶在國泰君安證券持有的任何其他帳戶中扣除。
6.2. 在聯交所或相關交易所進行的每一項期權合約均須繳交聯交所或相關交易所可能徵收的徵費。國泰君安證券有權隨時根據聯交所或相關交易所的規定向客戶收取有關徵費。
7. 報價、市場資料、研究及互聯網鏈接：
透過國泰君安證券取得的報價、消息、研究及資料（「資料」）可能是由獨立供應商所編製。有關資料屬國泰君安證券、供應商或其授權商所有，❹受法律保護。客戶同意，在未取得國泰君安證券或供應商的書面同意的情況下，不會以任何方式複製、派發、出售或商業利用資料。國泰君安證券保留拒絕他人訪問有關資料的權利。有關資料❹不構成國泰君安證券的建議或銷售招攬。國泰君安證券或供應商概不保證資料的準確性、時效性或完整性，且客戶於作出投資決策之前應諮詢相關顧問。依賴報價、數據或其他資料的風險由客戶自行承擔。國泰君安證券概不對有關資料作出任何形式的保證，亦不對有關資料的準確性或時效性負責。在任何情況下，國泰君安證券或供應商概不對因使用有關資料導致的任何損失負責。國泰君安證券概不對有關資料作出任何形式的保證（明示或暗示），包括對其適銷性、適合特定用途或不侵權進行保證。
8. 保證金
8.1. 就國泰君安證券代表客戶訂立的所有期權合約，客戶須於有關合約訂立之前或即時應國泰君安證券的要求向國泰君安證券提供其不時依據絕對酌情權所要求的保證金以及符合其規定的某種形式及數額及符合某些條件的擔保及其他抵押品。該保證金須一直由國泰君安證券持有，直至有關的期權合約被平倉之後，客戶方可提取該保證金。除非客戶已提供國泰君安證券所要求的保證金，否則國泰君安證券有權拒絕執行客戶的指令。
8.2. 客戶同意維持該等保證金❹須應要求以國泰君安證券決定之形式、金額、時限以現金、證券、及／或其他資產方式，支付或交付額外保證金，該等保證金及額外保證金指客戶須支付，或國泰君安證券代表客戶支付與國泰君安證券根據本協議條款代表客戶訂立之任何期權合約相關之保證金或任何其他款項。客戶須要支付保證金之金額應不少於，但可超過根據規則規定與客戶未平倉及交付責任相關之金額。此外，客戶可能因應市值變化而須進一步支付保證金。
8.3. 倘若國泰君安證券接受證券作為保證金（「保證金證券」），則客戶須應國泰君安證券根據規則而作出的要求給予國泰君安證券適當授權，使其可以直接或透過期權交易所參與者向聯交所期權結算所或相關結算所交付該等證券，作為客戶向國泰君安證券作出指示之抵押品。就與香港上市期權合約有關的保證金證券而言，國泰君安證券概無客戶之進一步授權為任何其他目的借入、借出或放棄持有客戶之證券（還予客戶或應客戶指示或客戶同意除外）。
8.4. 時限對支付任何保證金至為重要，若國泰君安證券作出付款要求時❹無規定其他時間，則客戶需遵從該等要求在該要求提出起計2小時內支付款項（或國泰君安證券要求之更早時間）。客戶亦同意，應要求即時全額支付任何關於國泰君安證券帳戶之任何欠款。所有用作保證金及其他用途之首次及其後按金及款項須以已結算資金及以國泰君安證券全權決定之貨幣及金額支付。
8.5. 在不影響上文第8.2條之情況下，國泰君安證券有絕對酌情權不時修訂保證金規定。過往之保證金規定概不會構成先例，經修訂之規定一旦訂立，將適用受該等修訂影響之現持有及新增期權合約。
8.6. 若客戶未能在國泰君安證券規定之時間內，補倉或支付任何其他應付賬款，則國泰君安證券有權（在不影響國泰君安證券其他權利之情況下）在未通知客戶之情況下拋售有關未補倉之未平倉合約，及處理任何及所有客戶於國泰君安證券或其附屬機構開立的任何帳戶（不論客戶單獨或共同擁有有關帳戶）內的資產，❹將所得款項及任何現金存款支付客戶尚欠國泰君安證券之所有未償還餘額。在支付國泰君安證券欠款後之任何款項餘額將退回予客戶。客戶將須❹將及時向國泰君安證券支付其帳戶因有關處置產生或於有關處置後仍存在的任何差額。即使客戶以更差價格重設持倉，國泰君安證券無須就客戶因有關處置產生的任何損失承擔責任。
8.7. 倘若客戶之任何帳戶產生借方結餘，則國泰君安證券❹無及不應被視作有提供或連續提供任何財務通融之責任。尤其在國泰君安證券允許任何帳戶產生借方結餘之事實時，這❹不能引伸或視作為國泰君安證券有責任向客戶提供財務通融或代表客戶承擔任何預付款項義務。
8.8. 客戶確認❹同意國泰君安證券將自帳戶扣除佣金及各項其他費用，且該等扣減或會影響用於支付保證金的權益金額。如本協議所述，倘扣減佣金、費用或其他開支致令帳戶沒有充足餘額支付保證金，則帳戶持倉須進行清算。
9. 付款和資金償付
9.1. 客戶應隨時按國泰君安證券的要求向其全額支付因客戶之期權交易或因客戶帳戶的操作而造成的任何損失、借方餘額以及差額。付款的幣種應由國泰君安證券根據實際情況確定。
9.2. 在不損害客戶承索即付的義務的前提下，客戶每次根據本協議向國泰君安證券支付款項（無論是通過直接付款、轉帳、記入款項或存入）均應在提出付款要求的當日營業結束前（香港時間）予以支付。
9.3. 在國泰君安證券扣除其根據規則，適用法律法規和/或本協議的規定有權扣除的所有金額，以及上述第8條所要求的保證金，且客戶事先全數償還對國泰君安證券的實際或或有債務的前提下，國泰君安證券應在收到客戶的書面指令後在盡可能短的時間內將客戶帳戶內全部或部分資金和/或出售任何期權合約的收益匯給客戶。所有國泰君安證券應付客戶的資金應轉帳至客戶在開戶申請表格中指定的銀行帳戶，或以雙方不時約定的方式支付。所有上述支付到客戶指定銀行帳戶的資金應被視為國泰君安證券對客戶的付款責任的充分解除。
9.4. 如客戶未能依照上述規定履行其在到期交收日或之前的責任，則客戶須對任何因此而導致的損失、成本、費用及開支向國泰君安證券負責。
9.5. 所有就本協議的期權合約的支付，客戶必須按照國泰君安證券指明的貨幣及在其指明的地方以已結算的款項進行，且
(a) 沒有任何限制、條件或衡平法權益約束；
(b) 無限制及可動用，以及沒有因稅項原因作出任何扣除或預扣；及
(c) 沒有以抵銷、反申索或其他方式扣除或預扣任何其他數額。
10. 利息
10.1. 國泰君安證券可以保留其持有的，作為客戶帳戶的一部分的現金所帶來的收益，而且客戶同意，對於由國泰君安證券持有的屬於客戶的任何金額的資金，除非雙方另有協定，否則不應計客戶的利息。
10.2. 客戶保證隨時（無論是在任何確定債務判決書之前還是之後）就其欠國泰君安證券的任何逾期債務金額支付利息，利率由國泰君安證券不時確定，或在國泰君安證券自行確定的香港上海匯豐銀行有限公司最優惠利率的基礎上增加8%，而且此類利息須在每月的最後一天支付，或在國泰君安證券要求下立刻支付。
11. 交收
11.1. 客戶同意，根據國泰君安證券知會之金額及時限，以現金支付與期權合約有關之認購或認沽期權長倉之應付期權金。若國泰君安證券❹未指明時限，則客戶需要遵從該等時限要求在該要求提出之時起計2個小時內（如國泰君安證券要求，則更早之時間）支付。國泰君安證券可在接受客戶認購或認沽期權長倉之指示之前，要求客戶安排支付期權金，亦可以國泰君安證券之絕對酌情權，不時訂立其認為合適之其他期權金支付規定。
11.2. 客戶確認只有在到期日，聯交所期權結算所期權系統將會就所有價內期權長倉按聯交所期權結算所不時訂明之百分比自動產生行使指示。在到期日系統終止前，根據聯交所期權結算所不時修訂之期權交易所參與者結算運作程序，客戶可指示國泰君安證券，撤銷該等自動產生之行使指示。
11.3. 關於客戶之短倉盤，倘若期權合約被有效行使（包括根據第11.4條涉及之情況），客戶須根據有關期權合約在國泰君安證券不時規定的相關市場的相關截止時間（就香港上市期權合約而言，即緊接行使日期後下一個營業日下午三時十五分或國泰君安證券不時修訂❹通知的其他時間）之前履行其責任。若客戶違約，則在不影響國泰君安證券擁有針對客戶之其他權利及應採取之補救方法之前提下，國泰君安證券可在未作出繳款要求或通知之情況下替客戶將未平倉合約平倉，或以國泰君安證券認為最合適之方式作出處理。客戶同意，將負責支付國泰君安證券與上述行為有關之所有費用，而且國泰君安證券對由此產生之任何損失概不承擔責任。
11.4. 客戶明白❹同意，根據相關規則，相關期權交易所或結算所可隨機選擇任何期權交易所參與者履行未平短倉盤之期權合約之交付責任。如國泰君安證券被選中，國泰君安證券須從組成客戶之相同期權系列之未平倉短倉盤之期權合約中隨機選擇一份期權合約，作為負有交付責任之客戶。如此選擇之期權合約，藉本協議及相關規則之施行，在該等選擇發生之時須視作已全面有效行使。國泰君安證券須儘快知會客戶該等行使詳情，惟無論如何不得超過緊接行使日期後之下一個營業日中午十二時。
11.5. 當期權合約有效行使時，將產生交付責任。當客戶行使或被針對行使期權合約時，客戶將依照符合標準合約（按期權交易規則定義）或相關規則之規定及國泰君安證券已知會客戶之情況履行有關期權合約之交付責任。
11.6. 客戶謹此承諾，就其未在第11條訂明之到期日時履行其責任，負責彌償國泰君安證券由此引致之任何損失、收費、費用及開支（包括法律費用）（按彌償基準）。
12. 保證
12.1. 客戶作為實益擁有人特此將其帳戶中持有或以後獲取的任何和全部期權合約、款項和其他資產，通過設定第一固定押記的形式，押記予國泰君安證券，由國泰君安證券以受託身份為其自身及國泰君安集團的任何其他成員持有，作為對客戶履行其根據本協議應履行和遵守的義務、客戶償付客戶對國泰君安證券或國泰君安集團的任何其他成員承担的、與客戶帳戶或與國泰君安集團的任何其他成員訂立的任何協議有關的現時或將來任何時間應付的款項和債務（無論是實際的還是或有的）、以及支付國泰君安證券或國泰君安集團的任何其他成員在行使或實施此抵押而產生的所有成本、費用和支出的不受任何產權負擔影
響的持續性擔保。
12.2. 浮動押記
12.3. 第12.1和12.2條項下的押記應為持續性，即使有任何中期支付或帳目結算或清償全部或部份客戶欠負國泰君安證券或國泰君安集團的任何其他成員的任何款項，即使客戶設於國泰君安證券或國泰君安集團的任何其他成員的任何帳戶被結束❹在其後被重新開立，或客戶其後單獨或與其他人共同開立任何帳戶，此押記應延伸至涵蓋當時構成客戶在任何帳戶或以其他方式到期須付予國泰君安證券或國泰君安集團的任何其他成員餘額的所有或任何款項。
12.4. 客戶聲明及保證：
(a) 客戶擁有對客戶賬帳戶中持有或包含的期權合約、款項和其他資產的法定和實益所有權；及
(b) 該等期權合約、款項和其他資產目前和將來不受任何種類的留置、押記或產權負擔的影響。
12.5. 在不可撤回地全數支付根據本協議書或與國泰君安集團的任何其他成員訂立的任何協議可能或成為應支付國泰君安證券或國泰君安集團的任何其他成員的一切款項，以及全面履行客戶對國泰君安證券及/或國泰君安集團的任何其他成員的責任後，國泰君安證券將會按客戶的要求及在由客戶支付開支的情況下，向客戶解除國泰君安期證券在客戶賬帳戶中持有或包含的期權合約、款項和其他資產中持有的的所有權利、所有權及權益，❹將應客戶的要求發出完善上述解除所需的指示和指令。
12.6. 客戶同意採取或簽立國泰君安證券根據情況認為必須的或可取的行動或文件，以實施、執行或遵守本協議的條款，或為完善或改進任何按此協議為國泰君安證券提供的擔保或抵押保證。
12.7. 在國泰君安證券的要求下，客戶應促使國泰君安證券可以接受的人以國泰君安認為滿意的條件向國泰君安證券就本協議中客戶的任何債務或義務提供進一步的抵押。
12.8. 在不影響國泰君安證券根據法律而享有的任何權利的原則下，客戶授權❹同意國泰君安證券可以下列一種或以上的方式去處理不時代客戶收取或持有的證券或證券抵押品：
(a) 依據證券借貸協議運用任何客戶的證券或證券抵押品；
(b) 將任何客戶的證券抵押品存放於認可財務機構，作為提供予國泰君安證券的財務通融的抵押品；或
(c) 將任何客戶的證券抵押品存放於(i)認可結算所；或(ii)另一獲發牌或獲註冊進行證券交易的中介人，作為解除國泰君安證券在交收上的義務和清償國泰君安證券在交收上的法律責任的抵押品。
除非客戶於任何時候給予國泰君安證券不少於五個營業日的書面通知撤銷有關授權，此項授權由客戶的帳戶首次被國泰君安證券許可進行期權合約交易開始起計12個月內有效；但假若客戶或代客戶須向國泰君安證券負責的任何法律責任仍未解除，則該項撤銷將為無效。在有效期屆滿前沒有被撤銷的此項常設授權，可按照《證券及期貨條例》下的有關規則予以續期或當作已續期。
12.9. 借貸╱質押客戶資產的權利：在有關規則允許的範圍內，國泰君安證券可不時及在毋須通知客戶的情況下，就客戶帳戶中的任何資產單獨或與其他客戶帳戶中的資產一起進行借貸、質押、再質押、抵押或再抵押或就此設立擔保權益，而國泰君安證券毋須保持對一項相同資產的擁有權或控制權。在有關規則允許的範圍內，國泰君安證券獲客戶授權，可以主事人或代理身份向其自身或其他客戶借出客戶帳戶中的任何證券或其他財產。客戶知悉，就該等證券或其他財產的有關借貸而言：(i)國泰君安證券可能獲得客戶無權享有的財務及其他利益；(ii)該等證券或其他財產的借貸一般會妨礙客戶（全部或部分）就所借出的證券或其他財產行使表決權或收取股息；(iii)就該等證券或其他財產所派付的股息將歸借款人（而非客戶）所有，且毋須向客戶支付任何賠償或補償；(iv)倘客戶獲分配代替股息的替代付款，有關付款可能不會享有與收取股息時相同的稅項待遇，且國泰君安證券毋須就股息與代替股息付款的任何不同稅項待遇向客戶作出賠償。
13. 違約事件
13.1. 下述任何事情均構成違約事件（「違約事件」）：
(a) 客戶在應要求或到期時，未能向國泰君安證券支付應繳納之任何期權合約之按金、保證金、期權金、行使價或與帳戶有關應支付國泰君安證券之任何其他款項，或未按本協議將任何文件呈交或將任何證券交付國泰君安證券；
(b) 客戶未有恰當履行本協議任何條款，包括其交付及結算責任，及未能遵守任何規則；
(c) 客戶以任何方式違背、否認或違反與國泰君安證券或任何第三方訂立的任何協議；
(d) 客戶在應要求或到期時，未能清算任何借方結餘或任何客戶帳戶；
(e) 任何人士針對客戶向法院申請其破產、清盤、債務人救濟或進行其他相類似之法律程序；
(f) 客戶為債權人的利益作出轉讓；
(g) 為客戶或客戶的任何財產委任接管人、受託人、監管人、清盤人或類似人士；
(h) 客戶身故（若客戶為自然人）；
(i) 針對客戶徵取或強制執行任何扣押、判決或其他程序；
(j) 客戶在本協議或任何其他文件內向國泰君安證券作出之任何xx或保證乃或變成不真確或誤導
；
(k) 客戶（為一間公司或合夥商號）簽訂本協議所需之任何同意書、授權書或董事會決議案全部或部份被撤回、暫時終止、終止或不再具有完全效力和效果；
(l) 出現國泰君安證券單方面認為可能將損害其就本協議享有之任何權利之任何事件；
(m) 國泰君安證券已經向客戶作出最少 2 次任何催收保證金要求，惟不管甚麼理由，❹不能夠直接與客戶取得聯絡；
(n) 就客戶任何財產發起任何程序；及
(o) 國泰君安證券有理由認為上述任何情況有可能立即發生。
13.2. 倘若出現違約事件，在不影響國泰君安證券針對客戶享有之任何其他權利或補救方法之情況下，國泰君安證券有權不向客戶發出進一步要求或通知而採取下述行動：
(a) 拒絕接受客戶發出有關在本協議下期權交易的進一步指示；
(b) 即時終止帳戶；
(c) 終止本協議之全部或任何部份；
(d) 撤銷任何或所有國泰君安證券代表客戶發出而仍未執行之指令或任何其他承諾；
(e) 拋售、過戶或行使任何或全部期權合約，透過購入證券補倉或透過出售證券平倉；
(f) 國泰君安證券為履行因客戶違約而引致之責任或對沖因客戶違約而引致之風險，訂立合約或證券，期貨或商品交易（於聯交所或其他地方進行）；
(g) 處置任何或全部為客戶或/代表客戶持有之保證金、抵押品或證券，❹使用彼等之收益和任何現金按金，以償還客戶對國泰君安證券之債務；
(h) 按第 17 條組合、合併和抵銷客戶之任何或全部帳戶；及
(i) 國泰君安證券行使其絕對酌情權，採取任何其視為適合之行動。
13.3. 根據本條款採取任何行動時：
(a) 不論由何種原因導致任何損失，只要國泰君安證券已經作出合理之努力，以當時市場提供之價格拋售、過戶或行使期權合約、透過購入證券補倉或透過出售證券平倉，則國泰君安證券毋須為此等損失承擔責任；
(b) 國泰君安證券將有權根據本條款，按當時市價拋售及／或清算有關之全部或任何期權合約，而毋須為任何原因導致之損失負責，亦毋須交代國泰君安證券所獲得之任何利潤；及
(c) 倘若出售所得款項淨額及／或清算期權合約不足以抵償客戶尚欠國泰君安證券之所有款項，則客戶承諾須支付國泰君安證券任何差額。
14. 合約說明、補倉程序及平倉
14.1. 在不損害國泰君安證券按上文第13.2條所享有權利之情況下，倘國泰君安證券認為下列變動已發生或該變動正在進展❹將發生，則國泰君安證券可在未獲得客戶同意前，將客戶所有或任何持倉盤平倉：
(a) 本地、國家或國際金融、財政、經濟或政治狀況或外匯管制出現變動，而該等變動將導致或國泰君安證券認為其將導致本港及／或海外股市或期權市場出現重大或嚴重波動；或
(b) 性質屬或可能屬重大嚴重，❹將影響客戶狀況或運作之變動。
14.2. 國泰君安證券在接獲書面要求後，須向客戶提供合約說明或其他產品說明、任何涵蓋該等產品之章程或其他要約文件，❹須向客戶提供保證金的程序之完整說明。
15. 可疑活動
倘國泰君安證券全權酌情認為帳戶涉嫌存在任何欺詐或犯罪或違反法律法規的行為，或遭非法訪問，或涉及任何可疑活動（不論是受害者或作案者或其他），國泰君安證券可暫停或凍結帳戶或任何帳戶特權，可凍結或清算資金或資產或可動用本協議或法律範圍內的任何救濟。
16. 常設授權
16.1. 就香港上市期權而言（《證券及期貨（客戶款項）規則》或《證券及期貨（客戶證券）規則》對其適用）：
(a) 客戶款項常設授權涵蓋國泰君安證券為客戶在香港收取或持有❹存放於一個或多個獨立帳戶內的款項（包括因持有❹非屬於國泰君安證券的款項而產生之任何利息）（下稱「款項」）。
(b) 客戶授權國泰君安證券：
(i) 個別地或聯合地組合或合併國泰君安證券所維持的任何或全部獨立帳戶（不論其為何種性質），國泰君安證券可將該等獨立帳戶和在該等獨立帳戶之間轉移任何數額之款項，以解除客戶對國泰君安證券的義務或責任，不論此等義務和責任是確定或或然的、主要或附帶的、有抵押或無抵押的、共同或分別的；及
(ii) 從國泰君安證券於任何時候維持的任何獨立帳戶之間來回調動任何數額之款項。
(c) 客戶證券常設授權是有關處置客戶之證券，詳列於本第 16 條以下。
(d) 就由於客戶之指示經國泰君安證券進行在聯交所交易的期權業務，客戶授權國泰君安證券將客戶的證券存放於聯交所期權結算所，作為聯交所期權結算所抵押品。
(e) 客戶確認❹同意國泰君安證券可不向客戶發出通知而採取上述第 16.1(b)及(d)條的行動。
(f) 客戶同時確認:
(i) 此賦予國泰君安證券之客戶款項常設授權❹不損害國泰君安證券可享有有關處理該等獨立帳戶內款項的其他授權或權利；及
(ii) 客戶證券常設授權不影響國泰君安證券為解除由客戶或代客戶對國泰君安證券所負的法律責任，而處置或促使國泰君安證券的有聯繫實體處置客戶之證券或證券抵押品的權利。
(g) 客戶明白客戶的證券可能受制於第三者之權利，國泰君安證券須全數抵償該等權利後，方可將客戶的證券退回客戶。
(h) 受第 16.1(j)條指明按照《證券及期貨（客戶款項）規則》或《證券及期貨（客戶證券）規則》（視乎何者適用）由客戶續期或當作已被續期所制約下，客戶款項常設授權及客戶證券常設授權的有效期為十二個月，自本協議書之日起計有效。
(i) 客戶可以向國泰君安證券客戶服務部列明於帳戶開立表格內的公司地址或該等國泰君安證券為此目的可能以書面方式通知的其他地址，發出書面通知，分別撤回客戶款項常設授權及客戶證券常設授權。該等通知之生效日期為國泰君安證券真正收到該等通知後之 14 日起計。
(j) 客戶明白國泰君安證券若在客戶款項常設授權及客戶證券常設授權的有效期屆滿 14 日之前，向客戶發出書面通知，提醒客戶有關的常設授權即將屆滿，而客戶沒有在該等常設授權屆滿前反對該等常設授權續期，客戶款項常設授權及客戶證券常設授權應當作在不需要客戶的書面同意下按持續的基準已被續期。
16.2. 就於香港境外上市的期權合約及╱或於香港境外所持任何客戶款項而言：
(a) 客戶授權國泰君安證券：
(i) 個別地或聯合地組合或合併任何或全部帳戶（不論其為何種性質），國泰君安證券可向該等帳戶和在該等帳戶之間轉移任何數額之款項，以解除客戶對國泰君安證券的義務或責任，不論此等義務和責任是確定或或然的、主要或附帶的、有抵押或無抵押的、共同或分別的；及
(ii) 於任何帳戶之間來回調動任何數額之款項。
(b) 就客戶向國泰君安證券作出指示的期權業務而言，客戶授權國泰君安證券將證券存放於有關交易所或結算所，作為抵押品。
(c) 客戶確認❹同意國泰君安證券可不向客戶發出通知而採取第 16.2(a)及(b)條的行動。
(d) 客戶同時確認：
(i) 本第 16.2 條內的授權❹不損害國泰君安證券可享有有關處理該等帳戶內款項的其他授權或權利；及
(ii) 本第16.2 條內的授權❹不影響國泰君安證券為解除由客戶或代客戶對國泰君安證券所負的法律責任，而處置或促使國泰君安證券的有聯繫實體處置客戶之證券或證券抵押品的權利。
(e) 客戶明白客戶的證券可能受制於第三者之權利，國泰君安證券須全數抵償該等權利後，方可將客戶的證券退回客戶。
17. 帳戶的抵消與合併
17.1. 國泰君安證券可在任何時候將客戶在國泰君安證券或國泰君安集團的其他成員公司所開立和維持的任何或所有帳戶進行組合或合併，客戶在此不可撤銷地授權（無損於授予國泰君安證券的其他授權）國泰君安證券：
(a) 指示客戶可能於該處存設帳戶的國泰君安集團的其他成員公司，代表客戶將客戶的資金轉到客戶在國泰君安證券的帳戶；
(b) 從客戶在國泰君安證券的帳戶，將資金轉到客戶於國泰君安集團的其他成員公司存設的任何帳戶；
(c) 抵消或將資金轉入客戶的任何一個或多個帳戶，以償付客戶對國泰君安證券，國泰君安集團的其他成員公司或國泰君安證券的附屬機構在帳戶上的或任何其他有關的債務、義務或責任，不論這些債務、義務或責任為現在或將來的，確定或或然的，原有或附帶的，分別或共同的、有抵押或無抵押的；及
(d) 將上述授權通知國泰君安集團的其他成員公司。當這些組合，合併，抵消或轉帳要作貨幣轉換時，該轉換應按國泰君安證券選擇組合，合併，抵消或轉帳的當日，憑當時的外匯市場匯率決定，唯國泰君安證券有絕對酌情權作決定（但應將該決定通知客戶）。
若國泰君安集團的其他成員公司或其附屬機構要求國泰君安證券支付款項，以抵消和清償客戶對國泰君安集團的其他成員公司或其附屬機構的債務，則國泰君安證券無須考慮該債務是否存在。
17.2. 除非本協議另有明確規定，客戶根據本協議應付的所有款項均應全額支付而不得被抵消或反訴或受制於任何限制或條件。
17.3. 客戶不可撤銷且無條件的授權國泰君安證券將帳戶和/或以客戶名義開立於國泰君安證券或國泰君安證券的關聯方處的任何其他帳戶中的任何金額（無論幣種）用於減少客戶根據本協議所應支付的任何金額
（無論到期還是或然的）。
17.4. 除了任何抵消權、互抵權、合併帳戶的權利、留置權、滯留或扣留的權利或國泰君安證券在本協議或法律下享有的類似權利之外，國泰君安證券可在不事先通知客戶或任何其他人的情況下，將客戶對國泰君安證券或國泰君安證券任何關聯方負有的任何款項或義務（無論是否基於本協議，無論到期還是或然的，無論該款項或義務的幣種、支付地或記賬地）用於抵消國泰君安證券或國泰君安證券任何關聯方對客戶負有的任何款項或義務（無論是否基於本協議，無論到期還是或然的，無論該款項或義務的幣種、支付地或記賬地）。
17.5. 本條款所賦予之抵消權利是對任何法律所賦予的一般抵消權利，或本協議賦予國泰君安證券的任何權利，或國泰君安證券現在或以後擁有的任何留置權或其他擔保的補充，且不損害上述所有的效力。
18. 電子交易服務
18.1. 客戶確認由於電子通訊可能遇到未可預計的交通擠塞情況及其他原因，客戶用以作為期權交易落盤的電
子交易服務可能❹非是可靠的通訊途徑，而這種不可靠性❹非國泰君安證券所能控制。這可能會導致下列情況，包括：在傳送或收取客戶的指示或其他資料時有所延誤，延誤執行買賣盤或有關買賣盤以有別於客戶落盤時的市價執行，客戶與國泰君安證券進行通訊時出現誤解及錯誤等等。儘管國泰君安證券將會採取一切可行的步驟去保障其系統，客戶資料，帳戶及為客戶利益而持有的資產，客戶接納透過電子交易服務進行期權交易所涉及的風險。
18.2. 客戶確認國泰君安證券❹不知悉是否是客戶本人使用其用戶名及密碼下達指示。客戶承認及確認，其將為唯一可訪問及將會訪問其帳戶的人士，❹將不會允許任何人訪問其帳戶。客戶應對其用戶名及密碼的私密性及使用負責，❹同意如有用戶名或密碼被盜及丟失或客戶賬號未授權登錄將即時向國泰君安證券報告。客戶仍須對使用其用戶名及密碼進行的所有交易負責。
19. 遵守AEOI（自動交換財務帳戶資料）
19.1. 客戶須在要求時向國泰君安證券、國泰君安集團、其代理人或服務供應商提供關於客戶及其實益擁有人的文件或其他資料，以使國泰君安證券、國泰君安集團、其代理人或服務供應商遵循及履行包括但不限於AEOI的適用法律及規則的要求及責任。客戶特此同意，為遵守AEOI及其他適用法例，國泰君安證券、國泰君安證券關聯公司及其代理人和服務供應商可以收集、儲存及處理從客戶或因本協議及/或客戶之期權交易而獲得的資料，包括國泰君安證券與該等人仕之間可互相披露資料和國泰君安證券向香港、美國及/或其他司法權區之政府機構披露資料。在法律允許的範圍內，客戶特此豁免任何會妨礙國泰君安證券、國泰君安證券關聯公司及其代理人和服務供應商遵守AEOI及其他適用法例的任何司法權區的資料保障、私隱、銀行保密或其他法例或規例的任何條文及/或任何保密協議、安排或諒解的條款。客戶確認這可以包括傳送資料予一些在資料保障、資料私隱或銀行保密法例方面❹不嚴格的司法權區。客戶須確保，客戶或任何其代表因本協議或客戶之期權交易而向國泰君安證券、國泰君安集團或其代理人或服務供應商披露關於第三者的資料時，該第三者已獲提供該等資訊，❹已經給予該等同意或豁免，使國泰君安證券、國泰君安證券關聯公司及其代理人和服務供應商可以按本條款所述收集、儲存及處理該第三者的資料。
19.2. 在國泰君安證券要求時，客戶須向國泰君安證券確認(i)客戶是否有權在收受款項時免受任何AEOI規定的扣減或預扣(“AEOI豁免人士”)；(ii)為國泰君安證券及國泰君安證券關聯公司遵守AEOI，在國泰君安證券合理地要求時，向國泰君安證券提供關於客戶在AEOI的身份的表格、文件及其他資料（包括其適用轉付率或美國稅務條例或包括跨政府協議的其他官方指引所要求的其他資料）。
如按上述客戶向國泰君安證券確認客戶是AEOI豁免人士，而之後客戶發現他❹非或已不再是AEOI豁免人士，客戶須盡快通知國泰君安證券。
如客戶沒有按上述(a)段（為免生疑，如(b)段適用，包括(b)段）向國泰君安證券確認其身份或提供表格、文件及其他資料，則：
(i) 如客戶沒有確認客戶是否（及/或保持）AEOI豁免人士，客戶將不被視為AEOI豁免人士；及
(ii) 如客戶沒有確認其適用轉付率，客戶的適用轉付率將被視為100%，直至客戶向國泰君安證券提供所需確認、表格、文件或其他資料。
19.3. 如國泰君安證券需按AEOI或法例要求在付予客戶的款項中預扣或扣減任何AEOI預扣稅（包括因沒繳交或延遲繳交該等稅項而引起之懲罰或利息），國泰君安證券可扣減該等稅項，而無須增加任何付予客戶的款項。在本協議所有目的下，客戶皆被視為已全數收到該款項，沒有任何扣減或預扣。在國泰君安證券合理地要求時，客戶須向國泰君安證券提供該等額外資料，以決定該款項需扣減或預扣金額。
20. 《個人資料（私隱）條例》（香港法例第486章）
20.1. 國泰君安證券可不時要求其客戶提供其個人資料（按私隱條例之釋義）。就本第條而言在本段中，「個人資料」意指以電子方式或其他方式記錄的與已識別或可識別的自然人有關的各種資訊，即客戶已向國泰君安證券提供之下述個人資料：(i)就個人帳戶持有人、聯名帳戶持有人或獨資經營者而言，其個人資料；(ii)就合夥而言，其各合夥人之個人資料；及(iii)就公司實體而言，其個人董事、股東、行政人員或經理之個人資料。
20.2. 在國泰君安證券合理地要求客戶在開戶文件、國泰君安證券的移動應用程式（「移動應用程式」）或其他
情況下提供個人資料時，客戶需按要求提供個人資料，否則可能導致國泰君安證券無法為客戶開立或保持其帳戶或為其帳戶執行任何交易。
20.3. 就第20.4條所載目的而言，客戶明白及同意，國泰君安證券可以按第20.4條所述用途向下述人士提供收取自客戶的個人資料：
(a) 任何以其名義登記證券或其他資產的代名人；
(b) 國泰君安集團內之成員或關聯或相關公司，包括但不限於國泰君安證券之母公司及/或子公司；
(c) 任何向國泰君安證券提供與國泰君安證券業務經營有關的或向客戶提供金融服務或產品有關的行政、背景審查、認證、資料處理、財務、電腦、電訊、支付或結算、金融交易、執行、專業或其他服務的承包商、顧問、代理人或第三方服務提供者；
(d) 信貸資料服務機構，及（在違約欠債時）追收債款代理；
(e) 國泰君安證券代表客戶或客戶帳戶或其代表與之訂立或擬訂立交易的任何人；
(f) 透過或與國泰君安證券一起向客戶提供金融服務或發行、分銷或提供金融產品的任何人；
(g) 客戶進行證券、期貨及/或其他金融產品買賣而在其場所下單或交易的任何外國或本地的證券、期貨及/或其他金融產品的交易所；或其相關聯結算所或營運者；
(h) 任何更替國泰君安證券與客戶協議約務的承讓人、受讓方、參與者、次參與者、獲轉授人、繼承人或人士；及
(i) 任何外國或本地的政府、監管、監督、稅務、執法或其他機關、組織或機構。
20.4. 客戶明白及同意，其不時提供之個人資料可以作下述用途使用：
(a) 執行或實行客戶有關於交易或其他事情之下單或指令，以及執行客戶的其他指示；
(b) 向客戶提供金融服務或產品或提供與帳戶有關的金融服務或產品，不論相關服務或產品是否由或透過任何在香港境內或境外國泰君安集團成員或其他人士提供；
(c) 提供個人化財務分析及策劃或設計供客戶使用的金融服務或產品；
(d) 向客戶推銷客戶可能感興趣的服務或產品；
(e) 對客戶進行信貸或背景查詢及確定客戶財務狀況和投資目標；
(f) 追收債款、行使以國泰君安證券或其他國泰君安集團成員為受益人的抵押品、押記或其他權力及權利；
(g) 為遵守或為促使國泰君安集團內之關聯公司或其相關公司遵守任何本地或外國或本地之法律、規例（包括但不限於外國帳戶稅收合規法案、自動交換財務帳戶資料、共同申報準則及相類似規例）、任何在香港境內或境外相關司法管轄區内現存或未來設立的法律、監管、政府、稅務、執法或其他機關、交易所、或自我監管或行業團體或組織或金融服務提供者的自律組織或行業團體 或協會所自行或按協議提供或發出的通知、指示或指引；
(h) 為遵守國泰君安集團為了遵守制裁，或遵守、防止或偵查洗錢、恐怖份子融資或其他非法活動而 制定的、所適用於任何的法律和法規和國泰君安集團成員的、關於個人資料在國泰君安集團內分享及/或用於其他用途的責任、要求、的政策、程序、措施及安排；及
(i) 與上述任何一條或多條有關或附帶的其他目的。
20.5. 國泰君安證券可以不時按上述第20.4條所述用途，轉移客戶的個人資料予香港以外之上述第20.3條所述人 士。上述第20.3條所述人士。客戶可以根據第20.14條聯繫國泰君安證券，要求提供(a)第三方/國泰君安集
團内接收方的聯繫方式，以及(b)有關他們如何收集和處理客戶個人資料的更多詳情。國泰君安證券根據 適用的法律和法規采取適當措施以保護從國泰君安證券轉移至該等第三方的客戶個人資料，包括但不限於與該等第三方訂立適當的合同安排。
20.5.
20.6. 客戶明白及了解，在以下情況及在適用的法律或法規允許的範圍内，國泰君安證券可能會在未經客戶同 意的情況下處理客戶的個人資料：
(i) 如為締結或履行客戶為一方之任何合同所必需；
(ii) 如為履行適用的法律或法規規定的法定職責或義務所必需；
(iii) 如為應對公共衛生事件或在緊急情況下保護個人和財產安全所必需；
(iv) 在合理的範圍內，處理已經公開或通過其他合法渠道公開的個人資料；或
(v) 如其他適用的法律和法規所允許的情況。
20.7. 個人資料在「了解你的客戶」要求中的使用
客戶明白及同意國泰君安證券可能會通過移動應用程式收集❹處理客戶某些個人資料，包括但不限於(i) 姓名；(ii)生物識別信息，如臉部圖像和通過人臉識別獲得的關鍵特徵信息；(iii)銀行卡號；以及(iv)身份證件或護照。
客戶明白及了解，以此方式收集的個人資料將依據適用的法律和法規以及國泰君安集團的政策和程序僅 用於滿足「了解你的客戶」的要求。
客戶可隨時根據第 20.14 條聯繫國泰君安證券撤消其同意，但客戶明白在撤消同意後國泰君安證券將 無法繼續為客戶提供任何服務。
20.6.20.8. 個人資料在直接促銷中的使用
國泰君安證券會不時使用客戶的個人資料，用作直接促銷不同的金融產品和服務，其中包括但不限於證券、期貨、固定收益、外匯、商品、財富管理、資產管理、融資融券、股權衍生產品、保險、及其他金融產品及服務。使用於直接促銷的客戶的個人資料將限於：
(i) 姓名；
(ii) 性別；
(iii) 出生日期；
(iv) 身份證或護照號碼的一部分；
(v) 聯絡資料（包括但不限於電話號碼、傳真號碼、電郵地址、通訊地址及住宅地址）；及
(vi) 客戶已購買或申請的產品及/或服務的資料。
除非國泰君安證券已經就擬議使用獲得客戶的同意，否則不得如上所述使用資料。
如果客戶不再希望國泰君安證券將客戶的個人資料用作直接促銷，客戶可隨時根據第20.14條聯繫國泰君 安撤消其同意。對將個人資料用作直接促銷之同意的撤消，不影響客戶對國泰君安證券將個人資料用於本客戶協議第20條規定的其他用途之同意。
20.7.20.9. 提供個人資料作直接促銷
國泰君安證券會不時（不論是否收取金錢或其他財物為報酬）向其他國泰君安集團成員提供客戶的個人資料，使其可以使用客戶的個人資料用作直接促銷不同的金融產品和服務，其中包括但不限於證券、期貨、固定收益、外匯、商品、財富管理、資產管理、融資融券、股權衍生產品、保險、及其他金融產品及服務。提供予其他國泰君安集團成員使用於直接促銷的客戶的個人資料將限於：
(i) 姓名；
(ii) 性別；
(iii) 出生日期；
(iv) 身份證或護照號碼的一部分；
(v) 聯絡資料（包括但不限於電話號碼、傳真號碼、電郵地址、通訊地址及住宅地址）；及
(vi) 客戶已購買或申請的產品及/或服務的資料。
除非國泰君安證券已經就擬議使用獲得客戶的同意，否則不得如上所述使用資料。
如果客戶不再希望國泰君安證券將客戶的個人資料用作直接促銷，客戶可隨時根據第20.14條聯繫國泰君 安撤消其同意。對將個人資料用作直接促銷之同意的撤消，不影響客戶對國泰君安證券將個人資料用於本客戶協議第20條規定的其他用途之同意。
20.10. 向香港聯合交易所（「交易所」）和證券及期貨事務監察委員會（「證監會」）提供個人資料
客戶明白及同意，國泰君安證券可能收集、儲存、處理、使用、披露及轉移與客戶有關的個人資料（包 括客戶的身份識別資料和券商客戶編碼），以便國泰君安證券向客戶提供與在交易所上市或交易的證券相關的服務時，遵守與交易所和證監會不時生效的規則及規定。包括但不限於：
(a) 根據交易所和證監會不時生效的規則及規定，向交易所和/或證監會披露❹轉移客戶的個人資 料（包括客戶的身份識別資料和券商客戶編碼）；
(b) 容許交易所：(i)收集、儲存、處理及使用客戶的個人資料（包括客戶的身份識別資料和券商客 戶編碼）以作市場監察及執行交易所規則之用途；及(ii)向香港相關監管機構和執法機構（包括但不限於證監會）披露❹轉移該等資料，以配合其履行關於香港金融市場的法定職能；及(iii)使用該等資料進行分析，以作市場監察之用途；以及
(c) 容許證監會：(i)收集、儲存、處理及使用客戶的個人資料（包括客戶的身份識別資料和券商客 戶編碼），以配合其履行關於香港金融市場的監管、監察及執法職能；及(ii)根據適用的法律或監管規定向香港的相關監管機構和執法機構披露❹轉移該等資料。
客戶亦同意，即使未來客戶計劃撤消其同意，客戶的個人資料在其撤消同意後會就上述目的繼續被儲存、 使用、披露或轉移。
客戶不能如上述向國泰君安證券提供個人資料或拒絕或撤消同意，將可能導致國泰君安證券（按情況） 不會或不可繼續執行客戶的交易指示或為客戶提供證券有關服務（出售、轉讓或撤回客戶當前持有的證券份額（如有）除外）。
在本客戶協議第 20 條中，“券商客戶編碼”是指由相關持牌人或注冊人根據交易所規定所產生的“經紀 商至客戶分配號碼”，是交易所規定格式的唯一識別碼，“客戶身份識別資料”是指與分配到券商客戶編碼的客戶有關的下列信息：(i)客戶身份證件中顯示的客戶全名；(ii)身份證件的簽發國家或司法管轄區； (iii)身份證件類型；以及(iv)身份證件號碼。
20.8.20.11. 中華通證券交易服務
客戶明白及同意，國泰君安證券為客戶提供中華通證券交易服務時，國泰君安證券須要：
(i) 在提交每一客戶交易指令予中華通買賣盤訂單傳遞系統時，在交易指令中附加上客戶唯一的券商客戶編碼或（如客戶帳戶為聯名帳戶）客戶聯名帳戶獲分配的券商客戶編碼；及
(ii) 向交易所提供客戶唯一的券商客戶編碼及一切交易所按照其規則不時要求索取的關於客戶的身份識別資料。
不受限於國泰君安證券就著因應客戶的帳戶或提供服務予客戶而處理客戶個人資料而給予客戶的通知或取得的客戶同意，客戶明白及同意，作為國泰君安證券中華通證券交易服務的一部份，國泰君安證券可以作出下述的收集、儲存、使用、披露及轉移客戶的個人資料的行為：
(a) 不時向交易所及相關交易所附屬公司披露及轉移客戶的券商客戶編碼及客戶識別信息，包括在中華通買賣盤訂單傳遞系統輸入中華通證券交易指令時顯示客戶的券商客戶編碼，❹實時轉傳至相關中華通證券交易營運者；
(b) 容許交易所及各相關交易所附屬公司：(i)收集、使用及儲存客戶的券商客戶編碼及客戶識別信息以及相關中華通結算所所提供（以儲存而言，它們通過香港交易所進行）的合併、核實及配對的券商客戶編碼及客戶識別信息資料，以作市場監察及執行交易所規則用途；(ii)基於下列(c)及(d)所述目的，不時（直接或通過相關中華通結算所）轉移該等資料予相關中華通證券交易營運者；及(iii)披露該等資料予香港相關監管機構及執法機關，以配合其履行關於香港金融市場的法定職能；
(c) 容許相關中華通結算所：(i)收集、使用及儲存客戶的券商客戶編碼及客戶識別信息，以對券商客戶編碼及客戶識別信息作出合併及核實❹與其投資者身份識別資料庫作出配對，及把合併、核實及配對的券商客戶編碼及客戶識別信息資料提供予相關中華通證券交易營運者、交易所及相關交易所附屬公司；(ii)使用客戶的券商客戶編碼及客戶識別信息，以履行其證券帳戶管理的法定職能；及(iii)披露該等資料予中國大陸相關監管機構及執法機關，以配合其履行關於中國大陸金融市場的監管、監察及執法職能；及
(d) 容許相關中華通證券交易營運者：(i)收集、使用及儲存客戶的券商客戶編碼及客戶識別信息，以監察通過使用中華通服務在相關中華通市場進行之證券交易，和執行相關中華通證券交易營運者之規則；及(ii)披露該等資料予中國大陸相關監管機構及執法機關，以配合其履行關於中國大 陸金融市場的監管、監察及執法職能。
當客戶指示國泰君安證券進行任何中華通證券的交易時，客戶明白及同意，國泰君安證券可以使用客戶的個人資料於遵守交易所的要求及其對中華通北向交易不時生效的規則。客戶也明白，即使未來客戶計劃撤消其同意，客戶的個人資料（不論客戶撤消客戶同意前或後）會繼續被儲存、使用、披露、轉移或其他方式處理，以達至上述目的。
20.9. 不能提供個人資料或同意的後果
客戶不能如上述向國泰君安證券提供個人資料或拒絕或撤消同意，將可能導致國泰君安證券（按情況）不會或不可繼續執行客戶的交易指示或向客戶提供中華通證券交易服務。
20.12. 客戶可以要求國泰君安證券提供其個人資料的副本，及可以在需要時要求對其個人資料進行更正。任何 此類要求可致予國泰君安證券資料保護主任，地址為：香港中環皇后大道中181號新紀元廣場低座27樓。客戶明白國泰君安證券將就任何此等要求收取費用。明白及了解，提供給國泰君安證券的某些個人資料可能構成敏感個人資料。國泰君安證券只為上述第20.4條之用途收集和處理這些資料。國泰君安證券承諾保護客戶的個人資料，❹已就此採取措施。為了防止未經授權的人員或一方能夠存取客戶的個人資料，國泰君安證券已經採取了一系列技術性和組織性措施，以根據適用的法律和法規保護和保障客戶的個人資料。
20.13. 在受限於技術可行性的前提下，國泰君安證券將始終只為上述第20.4條之用途合理需要時保留客戶的個 人資料，或依據適用的法律和法規及國泰君安集團政策和程序長期保留客戶的個人資料，或保留客戶的個人資料至收到客戶刪除個人資料之要求時。
20.14. 客戶可以查詢❹要求國泰君安證券提供其個人資料的副本，及可以要求對其個人資料進行刪除、在需要 時進行更正或撤消同意。在某些情況下，客戶還可能享有資料可攜權，要求國泰君安證券將客戶的個人資料轉移給第三方。任何此類要求必須依據適用的法律和法規要求提出，❹應致予國泰君安證券資料保護主任，地址為：香港中環皇后大道中181 號新紀元廣場低座27 樓。客戶還可以通過發送電郵至 xxxxxxxx.xxxxxxx@xxxxx.xxx.xx，或致電至(000) 0000 0000以提出該等要求。客戶明白國泰君安證券將就重複且不合理的要求收取費用。對於可能給他人合法權利帶來風險或不具有操作/技術可行性的不合理請求，國泰君安證券保留依據適用的法律和法規拒絕客戶請求的權利。
20.10.20.15. 客戶明白，如果客戶的任何個人資料發生泄露或損失，或發生其他個人信息泄露事件，國泰君安證 券會依據適用的法律和法規采取補救措施，❹可能依據適用的法律和法規通知或不通知客戶。客戶明白及同意，國泰君安證券可能將此類事件通知客戶，在此情形下，國泰君安證券可能會使用一種或多種方式發送通知，包括但不限於在國泰君安證券網站上彈出視窗通知、發送短訊/電子郵件或致電。客戶明白，在采取上述通知行動其中之一後，國泰君安證券即被視爲履行了適用的法律和法規項下的通知義務。
21. 風險披露聲明
21.1. 下列聲明是根據《證券及期貨事務監察委員會註冊人操守準則》所提供。
期貨及期權交易的風險
買賣期貨合約或期權的虧蝕風險可以極大。在若干情況下，客戶所蒙受的虧蝕可能會超過最初存入的保證金數額。即使客戶設定了備用指示，例如「止蝕」或「限價」等指示，亦未必能夠避免損失。市場情況可能使該等指示無法執行。客戶可能會在短時間內被要求存入額外的保證金。假如未能在指定的時間內提供所需數額，客戶的未平倉合約可能會被平倉。然而，客戶仍然要對其帳戶內任何因此而出現的結欠數額負責。因此，客戶在買賣前應研究及理解期貨合約及期權，以及根據本身的財政狀況及投資目標，仔細考慮這種買賣是否適合。如果客戶買賣期權，便應熟悉行使期權及期權到期時的程式，以及客戶在行使期權及期權到期時的權利與責任。
提供將客戶的證券抵押品等再質押的授權書的風險
向國泰君安證券提供授權書，容許國泰君安證券按照某份證券借貸協議書使用客戶的證券或證券抵押品
、將客戶的證券抵押品再質押以取得財務通融，或將客戶的證券抵押品存放為用以履行及清償國泰君安證券交收責任及債務的抵押品，存在一定風險。
假如客戶的證券或證券抵押品是由國泰君安證券在香港收取或持有的，則上述安排僅限於客戶已就此給予書面同意的情況下方行有效。此外，除非客戶是專業投資者，客戶的授權書必須指明有效期，而該段有效期不得超逾 12 個月。若客戶是專業投資者，則有關限制❹不適用。
此外，假如國泰君安證券在有關授權的期限屆滿前最少 14 日向客戶發出有關授權將被視為已續期的提示，而客戶對於在有關授權的期限屆滿前以此方式將該授權延續不表示反對，則客戶的授權將會在沒有客戶的書面同意下被視為已續期。
現時❹無任何法例規定客戶必須簽署授權書。然而，國泰君安證券可能需要授權書，以便（例如）向客戶提供保證金貸款或獲許將有關客戶的證券或證券抵押品借出予第三方或作為抵押品存放於第三方。國泰君安證券會向客戶闡釋將為何種目的而使用授權書。
倘客戶簽署其中一種上述提及的授權書，而客戶的證券或證券抵押品已借出予或存放於第三方，該等第三方將對客戶的證券或證券抵押品具有留置權或作出押記。雖然國泰君安證券根據該授權書而借出或存放屬於客戶的證券或證券抵押品須對客戶負責，但上述國泰君安證券的失責行為可能會導致客戶損失客戶的證券或證券抵押品。
大多數持牌人或註冊人士均提供不涉及證券借貸的現金帳戶。假如客戶毋需使用保證金貸款，或不希望本身證券被借出或遭抵押，則切勿簽署上述提及的授權書，❹應要求開立該等現金帳戶。
於國泰君安證券失責的情況下，衍生產品結算及交收系統內經「客戶按金對銷帳戶」轉撥持倉的安排 客戶確認，由於在「客戶按金對銷帳戶」內屬於不同客戶的持倉，可能被配對用作對銷按金要求，因此
，在國泰君安證券失責的情況下，任何從「客戶按金對銷帳戶」轉撥出持倉的要求均須把所有（而非部
分）持倉轉撥出去。所以，在國泰君安證券失責的情況下，若有任何一個或多個於「客戶按金對銷帳戶
」擁有持倉的客戶，因為任何原因不願意把持倉轉撥出去的話，則所有在「客戶按金對銷帳戶」內的持倉將不能被轉撥出去。
21.2. 關於期權買賣的額外風險披露
x聲明❹不涵蓋買賣期權的所有風險及其他重要事宜。就風險而言，客戶在進行任何上述交易前，應先瞭解將訂立的合約的性質(及有關的合約關係)和客戶就此須承擔的風險程度。期權買賣對很多公眾投資者都❹不適合，客戶應就本身的投資經驗、投資目標、財政資源及其他相關條件，小心衡量自己是否適合參與該等買賣。
期權
期權交易的風險非常高。投資者不論是購入或出售期權，均應先瞭解其打算買賣的期權類別（即認沽期權或認購期權）以及相關的風險。客戶應計入期權金及所有交易成本，然後計算出期權價值必須增加多少才能獲利。
購入期權的投資者可選擇抵銷或行使期權或任由期權到期。如果期權持有人選擇行使期權，便必須進行現金交收或購入或交付相關的資產。若購入的是期貨產品的期權，期權持有人將獲得期貨倉盤，❹附帶相關的保證金責任。如所購入的期權在到期時已無任何價值，客戶將損失所有投資金額，當中包括所有的期權金及交易費用。假如客戶擬購入極價外期權，應注意客戶可以從這類期權獲利的機會極微。
出售（「沽出」）期權承受的風險一般較買入期權高得多。賣方雖然能獲得定額期權金，但亦可能會承受遠高於該筆期權金的損失。倘若市況逆轉，期權賣方便須投入額外保證金來補倉。此外，期權賣方還需承擔買方可能會行使期權的風險，即期權賣方在期權買方行使時有責任以現金進行交收或買入或交付相關資產。若賣出的是期貨產品的期權，則期權賣方將獲得期貨倉盤及附帶的保證金責任。若期權賣方持有相應數量的相關資產或期貨或其他期權作「備兌」，則所承受的風險或會減少。假如有關期權❹無任何
「備兌」安排，虧損風險可以是無限大。
某些國家的交易所允許期權買方延遲支付期權金，令買方支付保證金費用的責任不超過期權金。儘管如此，買方最終仍須承受損失期權金及交易費用的風險。在期權被行使又或到期時，買方有需要支付當時尚未繳付的期權金。
21 . 3. 期貨及期權的其他常見風險
合約的條款及細則：客戶應向替其進行交易的商號查詢所買賣的有關期貨或期權合約的條款及細則，以及有關責任（例如在什麼情況下你或會有責任就期貨合約的相關資產進行交收，或就期權而言，期權的到期日及行使的時間限制）。交易所或結算公司在某些情況下，或會修改尚未行使的合約的細則（包括期權行使價），以反映合約的相關資產的變化。
暫停或限制交易及價格關係： 市場情況（例如市場流通量不足）及／或某些市場規則的施行（例如因價格限制或「停板」措施而暫停任何合約或合約月份的交易），都可以增加虧損風險，這是因為投資者屆時將難以或無法執行交易或平掉／抵銷倉盤。如果客戶賣出期權後遇到這種情況，你須承受的虧損風險可能會增加。
此外，相關資產與期貨之間以及相關資產與期權之間的正常價格關係可能❹不存在。例如，期貨期權所涉及的期貨合約須受價格限制所規限，但期權本身則不受其規限。缺乏相關資產參考價格會導致投資者難以判斷「公平」價格。
存放的現金及財產：如果客戶為在本地或海外進行的交易存放款項或其他財產，客戶應瞭解清楚該等款項或財產會獲得哪些保障，特別是在有關商號破產或無力償債時的保障。至於能追討多少款項或財產一事，可能須受限於具體法例規定或當地的規則。在某些司法管轄區，收回的款項或財產如有不足之數，則可認定屬於客戶的財產將會如現金般按比例分配予客戶。
佣金及其他收費： 在開始交易之前，客戶先要清楚瞭解客戶必須繳付的所有佣金、費用或其他收費。這些費用將直接影響客戶可獲得的淨利潤（如有）或增加客戶的虧損。
在其他司法管轄區進行交易： 在其他司法管轄區的市場（包括與本地市場有正式連繫的市場）進行交易，或會涉及額外的風險。根據這些市場的規例，投資者享有的保障程度可能有所不同，甚或有所下降。在進行交易前，客戶應先行查明有關你將進行的該項交易的所有規則。客戶本身所在地的監管機構，將不能迫使客戶已執行的交易所在地的所屬司法管轄區的監管機構或市場執行有關的規則。有鑑於此，在進行交易之前，客戶應先向有關商號查詢客戶本身地區所屬的司法管轄區及其他司法管轄區可提供哪種補救措施及有關詳情。
貨幣風險： 以外幣計算的合約買賣所帶來的利潤或招致的虧損（不論交易是否在客戶本身所在的司法管轄區或其他地區進行），均會在需要將合約的單位貨幣兌換成另一種貨幣時受到匯率波動的影響。
交易設施： 電子交易的設施是以電腦組成系統來進行買賣盤傳遞、執行、配對、登記或交易結算。然而，所有設施及系統均有可能會暫時中斷或失靈，而客戶就此所能獲得的賠償或會受制於系統供應商、市場、結算公司及／或參與者商號就其所承擔的責任所施加的限制。由於這些責任限制可以各有不同，客戶應向為你進行交易的商號查詢這方面的詳情。
電子交易： 如果客戶透過某個電子交易系統進行買賣，便須承受該系統帶來的風險，包括有關系統硬體或軟件可能會失靈的風險。系統失靈可能會導致你的買賣盤不能根據指示執行，甚或完全不獲執行。
場外交易： 在某些司法管轄區，同時在特定情況之下，有關商號獲准進行場外交易。為客戶進行交易的商號可能是客戶所進行的買賣的交易對手方。在這種情況下，有可能難以或根本無法平掉既有倉盤、評估價值、釐定公平價格又或評估風險。因此，這些交易或會涉及更大的風險。此外，場外交易的監管或會比較寬鬆，又或需遵照不同的監管制度。因此，客戶在進行該等交易前，應先瞭解適用的規則和有關的風險。
21.4. 客戶確認基於證券市場的高度波動性質，就證券而買入或賣出期權涉及高程度的風險。對期權買方的警告
客戶明白若干期權只可以在某個到期日才可以行使（歐洲式期權）及其他的期權則可以在到期日之前任何時間行使（美式期權）。客戶明白當行使某些期權時將須要交付或接收相關的證券，而在行使其他某些期權時，則須要作出現金支付。
客戶瞭解期權屬一種遞耗資產及客戶作為期權買方可能會損失就該期權而付出的所有期權金。客戶明白到作為期權買方，客戶如要套現利潤，就需要行使該期權或在市場上將期權合約的長倉平倉。在某些情況下，由於市場缺乏流通性，可能會難於買賣該期權。客戶明白到國泰君安證券沒有義務在缺乏客戶的指示下行使一份具價值的期權，或事先向客戶就該期權的到期日作出通知。
對期權賣方的警告
客戶亦瞭解到作為期權賣方，客戶可能被要求在任何時候支付額外的保證金。客戶明白，與期權買方不同，期權賣方可能會因為相關證券的價格的升跌而可能會蒙受無限的損失，而客戶的得益將只限於有關的期權金。
此外，美式認購（認沽）期權的賣方可能須在到期日之前的任何時間去交付（支付）相關的證券，其全數價值為訂約價乘以相關證券數目。客戶確認這個義務可能與在賣出該期權時所收取的期權金完全不合符比例，❹可能只有很短的通知期。
21.5. 額外風險披露
國泰君安證券的信貸風險
倘我們在法律允許的範圍内借入、質押、再質押、抵押、再抵押客戶帳戶中的資產或在其之上創設抵押權益，則客戶將不會保留對相關資產的任何所有人權益。倘國泰君安證券無力償債，客戶將成為國泰君安證券的無抵押債權人之一，唯僅可依據合約針對國泰君安證券提出無抵押申索以索償資產價值。客戶能夠收回的國泰君安證券所欠客戶的任何債務將取決於完成任何破產程序後國泰君安證券債權人可利用的資產，❹且債務可能無法悉數償還或根本無法償還。
國泰君安證券的執行經紀商／託管人的信貸風險
就於海外市場交易的期權合約而言，國泰君安證券可能聘請第三方執行經紀商及託管人（不一定為國泰 君安證券的關聯方）來執行和結算交易。國泰君安證券將在甄選相關經紀商及託管人時審慎行事，但對 於因相關交易執行經紀商或託管人的任何違約（包括破產）而導致的客戶損失不承擔任何責任。國泰君 安證券及其關聯方在任何情況下均不對客戶因本協議而遭受或蒙受的任何損失或因相關交易執行經紀商、託管人或（為相關帳戶通過其進行交易或與其進行交易的）任何個人、事務所或公司的任何違約、破產、 作為或不作為而可能遭受的任何損失負責。
於香港境外收取或持有客戶資產的風險
國泰君安證券在香港境外收取或持有客戶資產須遵守相關海外司法權區的適用法律及法規，相關法律及法規可能有別於《證券及期貨條例》（香港法例第571章）及其項下規則。因此，相關客戶資產可能無法享有與在香港收取或持有的客戶資產所附帶的相同保護。
22. 第三者的權利
非本協議當事方的任何人士均不享有《合約（第三者權利）條例》（香港法例第623 章）下强制執行或享受本協議的任何條款的權利。
23. 可分性
x本協議的任何條款被任何法庭或監管機構認定無效或不可執行，則該無效性或不可執行性僅適用於該條款。 其他條款的有效性將不受此影響，本協議將排除無效條款繼續執行。 對本協議所有事項而言時間因素是至關重要的。 如果客戶由多人構成，則每個人的責任應是共同和可分別的，個人的具體情況應按當時情況分別解釋。 國泰君安證券有權與每個人單獨處理，包括在不涉及其他人的前提下清理債務。
ANNEX
CLIENT AGREEMENT
FOR STOCK OPTIONS TRADING
Version Series Number: OPT20210811 THIS AGREEMENT, effective immediately upon execution, is entered into BETWEEN
(A) GUOTAI JUNAN SECURITIES (HONG KONG) LIMITED whose registered office is at 27th Floor, Low Block,
Grand Millennium Plaza, 181 Queen’s Road Central, Hong Kong (hereinafter referred to as “GTJAS”); and
(B) the undersigned client(s) whose name(s) and address are as appeared on the signatory page of the Account Opening Form for securities (for the purposes of this Agreement, including Options) trading (hereinafter referred to as the “Client”).
WHEREAS
1. GTJAS is:-
(a) a licensed and registered with the Securities and Futures Commission (“SFC”) as a Licensed Corporation (CE number ABY236) for carrying on the regulated activities of (1) dealing in securities (including provision of financial accommodation to facilitate acquisitions or holdings of securities by Client); (2) advising on securities and (3) dealing in futures contracts (only for hedging purpose in relation to its activities as an issuer of products listed on the recognized stock market); and
(b) an Exchange Participant and an Options Exchange Participant of the Stock Exchange of Hong Kong Limited.
2. This Agreement shall be read in conjunction with and as a supplement to the Client Agreement for Securities Trading entered into by the Client and GTJAS (“Securities Trading Agreement”). Where any conflict arises between the provisions of the Securities Trading Agreement and this Agreement, the provisions of this Agreement shall prevail.
3. In consideration of GTJAS accepting to open an Options trading account(s) and operating such account in the Client’s name and on the Client’s behalf, for the purpose of and in connection with the client’s stock option trading activities, the Client hereby agrees to abide by the following terms and conditions.
NOW IT IS XXXXXX AGREED as follows:-
1. DEFINITIONS AND INTERPRETATION
1.1. Terms defined in this Agreement have the same meanings as in the Securities Trading Agreement unless stated otherwise.
1.2. Reference to “Account” in the Securities Trading Agreement is deemed to include the Options trading account as established pursuant to this Agreement.
1.3. In this Agreement, the following terms shall bear the following meanings:-
“AEOI” or “Automatic Exchange of Financial Account Information” means one or more of the following, as the context requires: (i) FATCA (Foreign Account Tax Compliance Act); (ii) the OECD Standard for Automatic Exchange of Financial Account Information in Tax Matters – the Common Reporting Standard and any associated guidance; (iii) any intergovernmental agreement, treaty, regulation, guidance, standard or any other arrangement between Hong Kong and any other jurisdiction (including between any government bodies in each relevant jurisdiction), entered into to facilitate, implement, comply with or supplement the legislation, regulations, guidance or standards described in (i) and (ii) above; and (iv) any legislation, regulations or guidance implemented in Hong Kong to give effect to the matters outlined above.
“Affiliate” means, in relation to GTJAS, any entity controlled, directly or indirectly, by GTJAS, any entity that controls, directly or indirectly, GTJAS or any entity directly or indirectly under common control with GTJAS. For this purpose, “control” of any entity or person means ownership of a majority of the voting power of the entity or person.
“Client Money Standing Authority” means the standing authority granted by the Client to GTJAS in the terms set out in Clause 16 as amended from time to time.
“Client Securities Standing Authority” means the standing authority granted by the Client to GTJAS in the terms set out in Clause 16 as amended from time to time.
“GTJA Group” means GTJAS and its Affiliates.
“FATCA” or “Foreign Account Tax Compliance Act” means (i) sections 1471 to 1474 of the US Internal Revenue Code of 1986 or any associated regulations or other official guidance; (ii) any treaty, law, regulation or other official guidance enacted in any other jurisdiction, or relating to an intergovernmental agreement between the US and any other jurisdiction, which (in either case) facilitates the implementation of the legislation or guidance referred to in (i) above; and (iii) any agreement pursuant to the implementation of the legislation or guidance referred to in (i) or (ii) above with the US Internal Revenue Service, the US government or any governmental or taxation authority in any other jurisdiction.
“HKEx” means the Hong Kong Exchanges and Clearing Limited. “HKSCC” means the Hong Kong Securities Clearing Company Limited.
“Holding company and subsidiary” shall have the respective meanings ascribed thereto by section 15 of the Companies Ordinance (Chapter 622 of the Laws of Hong Kong).
“Instruction” means any instruction (including any subsequent amendment or cancellation thereof accepted by GTJAS) the Client may give for the trading, dealing and settlement in Options, whether verbally, through the electronic trading service or in such other manner as GTJAS may permit.
“Investor Compensation Fund” means the investor compensation fund established pursuant to the SFO.
“Margin” means such amount in such currency and such other security whatsoever as GTJAS may from time to time demand in accordance with this Agreement from the Client by way of margin, variation adjustments or cash adjustments in relation to contracts.
“Options” or “Options Contract” means a stock option contract pursuant to which one party grants to the other party a right (but not the obligation), exercisable by the latter party on or before a specified date, to acquire or to dispose of (as the case may be) a specified quantity of a securities at an agreed price.
“Rules” means the applicable laws, rules and regulations of the relevant government, exchange, regulator or clearing house applicable to GTJAS’s handling of the Client’s Accounts or where the Client’s orders are being placed, including but not limited to the SFO, the Code of Conduct for Persons Licensed By or Registered with the Securities and Futures Commission issued by SFC, the Rules of the SEHK including the default procedure, the Options Trading Rules and Operational Trading Procedures for Options Trading Exchange Participants of the SEHK, the Options Clearing Rules and Operational Clearing Procedures for Options Trading Exchange Participants of the SEOCH and the General Rules of Central Clearing and Settlement System, and the rules and regulations of the New York Stock Exchange, Securities and Futures Commission, the Financial Industry Regulatory Authority, the Options Clearing Corporation (“OCC”), including any amendments , supplements, variations or modifications thereof.
“SEHK” means the Stock Exchange of Hong Kong Limited.
“SEOCH” means the SEHK Options Clearing House Limited.
1.4. Words denoting the singular shall include the plural and vice versa, reference to one gender shall include all genders and words denoting person, the Client and GTJAS shall include a natural person, firm or a sole proprietorship, partnership, syndicate and corporation and vice versa.
2. JOINT ACCOUNTS
2.1. Where the Account is jointly owned by two or more individuals, the Client states that the Client are joint tenants with right of survivorship. The Client’s liabilities and obligations shall be joint and several. In the event of death of either or any of the Client, the entire interest in any account opened on the Client’s behalf shall be vested in the survivor or survivors on the same terms and conditions in this Agreement.
2.2. Each of the Clients shall have authority to exercise all his rights, powers and discretions hereunder and generally to deal with GTJAS as if each of them alone were the Account holder without notice to the other. GTJAS may
follow the Instruction of any of them concerning the Account and shall not be obliged to inquire into or see the application of any monies as between the joint Account holders.
3. APPLICABLE RULES AND REGULATIONS
3.1. All Options Contracts for the Account shall be subject to the terms and conditions of this Agreement and the Rules. The Rules shall be binding on GTJAS and the Client in respect of Options Contracts traded in accordance with the Client's Instruction.
3.2. Account Information
(a) GTJAS generally will endeavor to keep information relating to the Client and the Account confidential, but GTJAS may be required to disclose information concerning the Client and the Account to comply with the Rules or to provide services to Client. Client agrees to provide such information to GTJAS, and consents for GTJAS to provide such information to the relevant government, exchange, clearing house, regulator or other necessary party to comply with their requirements or requests for information. The Client irrevocably authorizes GTJAS to make any such disclosure.
(b) Where GTJAS utilizes another broker, service provider, agent or entity, who could be an Affiliate, to facilitate execution of Client’s instructions or provision of services to the Client under this Agreement, Client authorizes GTJAS to provide information relating to the Client and the Account to the relevant broker or entity as necessary, including but not limited to for the purpose of satisfying the broker or entity’s obligations under the Rules or the provision of services to the Client.
3.3. Suitability of Recommendation: Nothing on GTJAS’s website is a recommendation or solicitation to buy or sell Options Contracts. GTJAS representatives may provide investment or trading advice or solicit orders on Options Contracts, and to the extent they do so, shall comply with applicable Rules. If GTJAS solicits the sale of or recommends any Options Contract to the Client, the Options Contract must be reasonably suitable for the Client having regard to the Client’s financial situation, investment experience and investment objectives. No other provision of this Agreement or any other document GTJAS may ask the Client to sign and no statement GTJAS may ask the Client to make derogates from this clause.
4. OPTIONS TRADING
4.1. The Client agrees that the terms of the Options Contract (including that of the Standard Contract as defined in the Options Trading Rules) for the relevant Options series shall apply to each Options Contract between GTJAS and the Client, and that all Options Contracts shall be created, exercised, settled and discharged in accordance with the Rules.
4.2. GTJAS may, in its sole discretion, place limits on the open positions (net or gross) or delivery obligations that the Client may have at any time. The Client agrees:-
(a) not to enter into any transaction that would have the effect of exceeding such position limits and that GTJAS may be required to close out or give up Options Contracts to comply with the position limits imposed;
(b) that GTJAS may at any time reduce open positions by issuing close out or offsetting trades, or require the Client to reduce open positions carried with GTJAS;
(c) that GTJAS may refuse for any reason to accept orders to establish new positions;
(d) GTJAS may impose and enforce such limits, reduction or refusal whether or not the same are required by the Rules, SEHK or the relevant exchange; and
(e) if GTJAS goes into default, the default procedures of SEHK or the relevant exchange may result in Options Contracts being closed out or replaced by Options Contracts between the Client and another options exchange participant or broker.
4.3. In respect of Options Contracts listed in Hong Kong:
(a) SEOCH has authority under the Rules to make adjustments to the terms of Options Contracts and the GTJAS shall notify the Client of any adjustments made by SEOCH to the terms of Options Contracts which affect Options Contracts to which the Client is a party.
(b) the terms of the Standard Contract (as defined in the Options Trading Rules) for the relevant Options series shall apply to each Options Contract between GTJAS and the Client.
(c) GTJAS may agree, at the Client's written request, to have the Options Contracts entered into with the Client replaced by Options Contracts between the Client and another Options Exchange Participant in accordance with the Rules.
(d) The Client acknowledges that the Client and GTJAS shall contract as principals under Options Contracts notwithstanding that all Options Contracts are to be executed on SEHK.
(e) GTJAS may, where requested by the Client, and in accordance with the Client's Instructions, request the give-up of Options Contracts of the Client to a different options trading exchange participant. The Client agrees that, upon acceptance of such request, any Options Contract between GTJAS and the Client shall, by operation of the Options Trading Rules and this Agreement, immediately be novated into a new Options Contract, on identical terms to that Options Contract, between the other options trading exchange participant and the Client, as principals to such Options Contract. If the request is not accepted, the original Options Contract shall remain in full force and effect, as if the give-up has never been requested.
(f) Every SEHK traded Options Contract shall be subject to the charge of the Investor Compensation Fund levy and a levy pursuant to the SFO, the cost of both of which shall be borne by the Client. The Client understands that if the Client suffers pecuniary loss by reason of GTJAS’s default, the liability of the Investor Compensation Fund will be restricted to valid claims as provided for in the SFO and will be subject to the monetary limits specified in the Securities and Futures (Investor Compensation – Compensation Limits) Rules (Cap.571 AC) and accordingly there can be no assurance that any pecuniary loss sustained by reason of such a default will necessarily be recouped from the Investor Compensation Fund in full, in part or at all.
5. INSTRUCTIONS AND TRANSACTIONS
5.1. Instructions may be given orally, in writing or electronically. GTJAS shall be entitled to rely and act upon any Instruction which purports or which GTJAS believes in good faith to have been given by the Client.
5.2. Unless the Client gives specific Instruction to GTJAS to the contrary and which Instruction is accepted by GTJAS, the Client acknowledges that all orders, Instruction or requests in relation to the Account are good for the day only and that they will lapse at the end of the official trading hours of the relevant exchange.
5.3. GTJAS may decline to accept any Instruction from the Client, restrict or prohibit trading in the Client’s Account or terminate Client’s use of GTJAS’s service at any time in its absolute discretion without giving the Client prior notice and without assigning any reason. In such event, GTJAS will endeavour to notify the Client accordingly, but GTJAS shall not in any circumstances whatsoever be liable in any way for any loss of profit or gain, damage, liability, cost or expense suffered or incurred by the Client arising out of or in connection with GTJAS declining to act on such Instruction or offer service or omitting so to notify the Client.
5.4. GTJAS may, for the purpose of carrying out any Instruction given by the Client, contract with or otherwise deal with or through any other agent, service provider or broker including any person or party associated in any manner with GTJAS, on such terms and conditions as GTJAS may in its absolute discretion determine.
5.5. GTJAS shall execute Client orders as agent, unless otherwise confirmed. GTJAS can execute Client orders as principal. GTJAS may use another broker, or an Affiliate, to execute orders, and they shall have benefit of all GTJAS’s rights under this Agreement. GTJAS will select the market and dealer to which to route Client’s orders. GTJAS cannot guarantee execution of every order at the best posted price; GTJAS may not have access to every market or dealer; other orders may trade ahead; market centers may not honor posted prices or may re-route orders for manual handling; market rules, decisions or system failures may prevent/delay execution of Client’s orders or cause orders not to receive the best price. Client acknowledges that it may not be possible to cancel or modify an order and that Client is responsible for executions notwithstanding a cancel or modify request.
5.6. Subject to applicable laws and regulations and market requirements, GTJAS may in its absolute discretion determine the priority in the execution of its clients' orders, having due regard to the sequence in which such orders were received, and the Client shall not have any claim of priority to another client in relation to the execution of any order received by GTJAS.
5.7. The Client acknowledges and consents that in respect of Options Contracts listed in Hong Kong, GTJAS shall, at its absolute discretion, be entitled to claim margin offset for the Client's positions through the Client Offset Claim Account (“COCA”) in Derivatives Clearing and Settlement System (“DCASS”) of the HKEx.
5.8. The Client understands that the SEHK, SEOCH or other relevant exchange or clearing house have established cut- off times for the tender of exercise Instructions and that an Options will become worthless if exercise Instructions are not delivered before such expiration time. The Client also understands that the SEHK and the SEOCH automatically will exercise some “in-the-money” Options unless instructed otherwise. The Client acknowledges full responsibility for taking action either to exercise or not to exercise an Options Contract. GTJAS is not required to take any action with respect to an Options Contract, including but not limited to any action to exercise a valuable Options prior to its expiration date or to prevent the automatic exercise of an Options, except upon the Client’s express Instructions. The Client further understands that GTJAS has established exercise cut-off times, which may be earlier than the times established by the SEHK, SEOCH or the relevant exchange or clearing house.
5.9. Client agrees to monitor each order until GTJAS confirms execution or cancellation. Client acknowledges that confirmations of executions or cancellations may be delayed or may be erroneous or may be cancelled or adjusted by an exchange. Client is bound by the actual order execution, if consistent with Client’s order. If GTJAS confirms execution or cancellation in error and Client delays reporting such error, GTJAS reserves the right to remove the trade from the Account or require Client to accept the trade, in GTJAS’s discretion.
5.10. Client agrees to notify GTJAS immediately if: (i) Client fails to receive an accurate confirmation of an execution or cancellation; (ii) Client receives a confirmation that is different than Client’s order; (iii) Client receives a confirmation for an order that Client did not place; or (iv) Client receives an Account statement, confirmation, or other information reflecting inaccurate orders, trades, balances, positions, margin status, or transaction history.
5.11. Client acknowledges that GTJAS may adjust Client’s Account to correct any error. Client agrees to promptly return to GTJAS any assets erroneously distributed to Client.
5.12. Subject to all relevant Rules, Client authorizes GTJAS to execute proprietary trades of itself and its affiliates, though GTJAS may simultaneously hold unexecuted Client orders for the same products at the same price.
5.13. GTJAS, its affiliates, and their respective directors and or employees may trade on their own Account and, subject to all relevant Rules, GTJAS and its affiliates may take the opposite position to the Client’s order in relation to any securities, futures and options positions, whether on GTJAS’s or its affiliate’s own account or for the account of another client of GTJAS.
5.14. Prior to the start of the last trading day before expiration, Client agrees to liquidate or close out any long or short option position or other rights position that an Account holds for which the Account has insufficient equity or may have insufficient equity at expiration to exercise (or be assigned on) such position and to then carry the resulting underlying position. Client acknowledges that approaching expiration with long or short options for which an Account does not or may not have sufficient equity to hold the underlying position puts Client and GTJAS at serious risk (including the risk of market movements in the underlying product between expiration and the next opening of the market in the product). If Client has not closed out a long or short option or other rights position prior to the start of the last trading day before expiration, and if GTJAS in its sole discretion determines that an Account has or may have insufficient equity to hold the underlying position upon expiration, GTJAS has the right, in its sole discretion, to do any or all of the following and GTJAS and its Clients shall have no claim for damages or lost profits resulting from any or all of the following: a) GTJAS may liquidate some or all of the options or rights position prior to expiration; b) GTJAS may lapse some or all of the options even if in-the-money at expiration; and
c) GTJAS may allow some or all of the options to be exercised or assigned and then may liquidate some or all of the resulting position.
5.15. Authorization
The Client authorizes GTJAS to take any action (including, without limitation, executing any document on the Client’s behalf) which in the reasonable opinion of GTJAS is necessary or desirable for the purposes of this Agreement (which, for the avoidance of doubt, includes any act that is necessary or desirable to protect GTJAS’s position) and the Client undertakes not to bring any action or proceedings against GTJAS for taking such actions.
6. COMMISSION AND CHARGES
6.1. In consideration of GTJAS carrying out or entering into Options Contracts on the Client's behalf or for the Account, the Client agrees to pay GTJAS commissions at such rate or rates and on such basis as it may from time to time determine and notify the Client as being the rate or rates applicable to the Account. In addition, the Client shall pay or reimburse GTJAS forthwith on demand all commission, brokerage, levies, fees, duties and taxes and all other charges and expenses incurred by GTJAS arising out of or in connection with any purchase or sale of Options Contracts entered into by GTJAS on behalf of the Client or otherwise arising out of or in connection with the performance of any of GTJAS’s duties under this Agreement. All such amounts may be deducted from the Account and any other accounts maintained by the Client with GTJAS.
6.2. Every Options Contract executed on the SEHK or the relevant exchange shall be subject to any levies or charges that the SEHK or the relevant exchange may from time to time impose. GTJAS is authorized to collect from the Client any such levies in accordance with the Rules prescribed by the SEHK or the relevant exchange.
7. Quotes, Market Information, Research and Internet Links:
Quotes, news, research and information accessible through GTJAS (“Information”) may be prepared by independent providers. The Information is the property of GTJAS, the providers or their licensors and is protected by law. Client agrees not to reproduce, distribute, sell or commercially exploit the Information in any manner without written consent of GTJAS or the providers. GTJAS reserves the right to terminate access to the Information. None of the Information constitutes a recommendation by GTJAS or a solicitation to buy or sell. Neither GTJAS nor the providers guarantee accuracy, timeliness, or completeness of the Information, and Client should consult an advisor before making investment decisions. Reliance on quotes, data or other information is at client’s own risk. GTJAS does not warrant in any fashion, and is not responsible for, the accuracy or timeliness of the information. In no event will GTJAS or the providers be liable for any loss arising from use of the information. There is no warranty of any kind, express or implied, regarding the information, including warranty of merchantibility, warranty of fitness for a particular use, or warranty of non-infringement.
8. MARGIN
8.1. In respect of all Options Contracts entered into by GTJAS on behalf of the Client, the Client shall before the relevant Options Contract is entered into or otherwise immediately upon demand provide GTJAS with such Margin together with such guarantees and other security in such form and amount and on such terms as GTJAS may in its absolute discretion require from time to time. Such Margin shall be maintained with GTJAS and the Client shall not withdraw the same until the Options Contract to which it relates has been closed out. GTJAS shall be entitled to refuse to execute the Client's Instruction unless the Margin required by GTJAS has been provided to GTJAS.
8.3. If GTJAS accepts securities by way of Margin (“Margin Securities”), the Client will on request provide GTJAS with such authority as GTJAS may require under the Rules to authorise GTJAS to deliver such securities, directly or through an options exchange participant, to SEOCH or the relevant clearing house as collateral resulting from the Client’s instructions to GTJAS. In respect of Margin Securities related to Option Contracts listed in Hong Kong, GTJAS does not have any further authority from the Client to borrow or lend Client's securities or otherwise part with possession (except to the Client or on the Client's Instructions or consent) of any of the Client's securities for any other purpose.
8.4. The time for payment of any Margin is of the essence and if no other time is stipulated by GTJAS when making a demand then the Client is required to comply with such demand before expiry of two (2) hours from the time of making the demand (or more quickly if required by GTJAS to do so). The Client also agrees to pay immediately in full and on demand any amount owing with respect to any of GTJAS's accounts. All initial and subsequent deposits and payments for Margin and other purposes shall be made in cleared funds and in such currency and in such amounts as GTJAS may in its sole discretion require.
8.5. Without prejudice to Clause 8.2 above, GTJAS shall be entitled to revise Margin requirements from time to time in its absolute discretion. No previous Margin requirements shall establish a precedent and revised requirements once established shall apply to existing positions as well as to the new positions in the Options Contracts affected by such revision.
8.6. Failure by the Client to meet Xxxxxx calls made by GTJAS by the time prescribed by GTJAS or any other accounts payable hereunder shall give GTJAS the right (without prejudice to other rights) to close out open positions in respect of which any Margin calls are not met without notice to the Client and to dispose of any or all assets of the Client in any account maintained with GTJAS or its affiliates, whether such account is individually or jointly owned by the Client, and to apply the proceeds and any cash deposit(s) to pay GTJAS all outstanding balances owing to GTJAS. Any monies remaining after that application shall be refunded to the Client. Client shall be liable and will promptly pay GTJAS for any deficiencies in Client’s account that arise from such disposal or remain after such disposal. GTJAS has no liability for any loss sustained by Client in connection with such disposal even if Client re-establishes its position at a worse price.
8.7. If a debit balance arises on any of the Client's Account(s), GTJAS shall not be, nor shall GTJAS be deemed to be, obliged to make available or continue to make available any financial accommodation. In particular, the fact that GTJAS permits a debit balance to arise in any Account(s) so debited shall not imply any obligation on the part of GTJAS to advance monies or incur any obligation on the Client's behalf.
8.8. Client acknowledges and agrees that GTJAS will deduct commissions and various other fees from the Account and that such deductions may affect the amount of equity to be applied against the Margin requirements. Account positions are subject to liquidation as described in this Agreement if deduction of commissions, fees or other charges causes the Account to have an insufficient balance to satisfy the Margin requirements.
9. PAYMENTS AND REMISSION OF MONIES
9.1. The Client shall pay GTJAS forthwith upon demand by GTJAS at any time the full amount of all losses, debit balances and deficiencies resulting from any Options trading of the Client, or from the operation of the Client’s Account. Payment shall be made in such currencies as GTJAS may prescribe from time to time.
9.2. Without prejudice to the Client’s obligation to effect payment on demand, each payment (whether by way of direct payment, transfer, debit or credit) to be made by Client to GTJAS in relation to this Agreement shall be not later than the close of business (Hong Kong time) on the date on which payment is required to be made.
9.3. Subject to the deduction of all amounts which GTJAS is entitled to deduct under the Rules, applicable laws and regulations and/or this Agreement, any Margin required as referred to in Clause 8 above and subject to the prior discharge in full of all sums or liabilities actual or contingent owed by the Client to GTJAS, GTJAS shall as soon as practicable after receiving a demand in writing from the Client return to the Client all or part of the monies forming part of the Account and/or the proceeds of sale of any Options Contracts. All monies payable by GTJAS to the Client shall be transferred by GTJAS to the bank account specified by the Client on the Account Opening Form or in such other manner as may be agreed between the parties from time to time. All monies paid as aforesaid to the Client's specified bank account shall be deemed good discharge of GTJAS's obligation to make payment to the Client.
9.4. The Client will be responsible to GTJAS for any losses, costs, fees and expenses in connection with the Client’s failure to meet the Client’s obligations by the due settlement date as described above.
9.5. All payments by the Client for Options Contracts in connection with this Agreement shall be made in cleared funds in the currency and at the place specified by GTJAS
(a) free of any restrictions, conditions or equities;
(b) free and clear and without any deduction or withholding on account of any taxes; and
(c) without deduction or withholding on account of any other amount, whether by way of set-off, counterclaim or otherwise.
10. INTEREST
10.1. GTJAS may retain for its own use any benefit it may derive from cash for the time being in its hands as part of the Account, and the Client agrees that no interest will accrue to the Client upon any amounts which may be held by GTJAS to the Client's credit, unless there is an agreement to the contrary between the parties hereto.
10.2. The Client undertakes to pay interest on all overdue amounts owed by him to GTJAS at any time (after as well as before any judgment) at such rate as may be specified from time to time by GTJAS or failing any such specification at a rate equivalent to eight (8) per cent above the best lending rate quoted by The Hongkong and Shanghai Banking Corporation Limited as GTJAS shall in its sole discretion determine as being the then prevailing prime rate and such interest shall be payable monthly in arrears or forthwith upon any demand being made by GTJAS.
11. SETTLEMENT
11.1. The Client agrees to pay the premium in cash for long call/put Options payable in respect of an Options Contract in cash in such amount and within such time period as notified by GTJAS. If no time period is specified by GTJAS, then the Client is required to comply with such demand before expiry of two (2) hours from the time of making the demand (or more quickly if GTJAS requires the Client to do so). GTJAS may require the Client to make arrangements for payment of premium in cash in advance of accepting long call/put Instructions from the Client
or may impose other requirements from time to time for the payment of premium as GTJAS in its absolute discretion thinks fit.
11.2. The Client acknowledges that on and only on the expiry day, the SEOCH Options System will automatically generate exercise instructions in respect of all open long positions which are in-the-money by or above the percentage prescribed by SEOCH from time to time. The Client may instruct GTJAS to override these automatically generated exercise instructions before System Closure on the expiry day in accordance with the Operational Clearing Procedures of SEOCH as amended from time to time.
11.3. In respect of the Client's short positions, in cases where the Options Contract is validly exercised (including cases pursuant to Clause 11.4), the Client shall fulfill his obligations under the relevant Options Contract by the relevant cut off time as stipulated by GTJAS for the relevant market from time to time (being 3:15 p.m. on the Business Day following the day of exercise in respect of Options Contracts listed in Hong Kong, as amended and notified by GTJAS from time to time). In default thereof, without prejudice to other rights or remedies that GTJAS may have against the Client, GTJAS may without demand or notice cover any liability of the Client under any short positions or deal with the same in the manner deemed most appropriate by GTJAS. The Client agrees that the Client will be responsible for all the expenses of GTJAS in connection with the above and that GTJAS will not be liable for any loss that may thereby be incurred.
11.5. Delivery obligation shall arise when an Options Contract is validly exercised. On exercise of an Options Contract by or against the Client, the Client will perform its delivery obligations under the relevant Options Contract in accordance with the Standard Contract (as defined in the Options Trading Rules) or in accordance with the relevant Rules and as the Client has been notified by GTJAS.
11.6. The Client hereby acknowledges that the Client shall be responsible to GTJAS for any losses, costs, fees and expenses (including legal costs) incurred by GTJAS (on an indemnity basis) in connection with the Client's failure to meet his obligations by the due date as described in this Clause 11.
12. SECURITY
12.1. The Client as beneficial owner hereby charges in favour of GTJAS, on trust for itself and any other member of the GTJA Group, by way of first fixed charge any and all Options Contracts, monies and other property held or carried in the Account or to be acquired by him in relation to the Account to and in favor of GTJAS free from any encumbrances as continuing security for Client's performance and observance of his obligations under this Agreement, for the discharge of all monies and liabilities (whatever actual or contingent) which are now or at any time hereafter may be due, owed or incurred from or by Client to GTJAS or any other member of the GTJA Group in connection with the Account or any agreement with any other member of the GTJA Group and the payment of all costs, charges and expenses incurred by GTJAS or any other member of the GTJA Group in the exercise or enforcement of the charge hereby created.
12.2. Floating Charge
(a) The Client, as a continuing security for the payment and satisfaction of all monies and liabilities (whatever actual or contingent) which are now or at any time hereafter may be due, owed or incurred from or by Client to GTJAS or any other member of the GTJA Group in connection with the Account or any agreement with any other member of the GTJA Group and the payment of all costs, charges and expenses incurred by GTJAS or any member of the GTJA Group, charges by way of a first floating charge, in favor of GTJAS, on trust for itself and any other member of the GTJA Group, free from any encumbrances, any and all Options Contracts, monies and other property referred to in Clause 12.1 above not at any time otherwise effectively charged or mortgaged by way of a first fixed charge under Clause 12.1.
(b) The first floating charge created by the Client under this Clause 12.2 shall crystallise into a first legal charge forthwith and automatically upon the earlier of (i) the creation and issue to or receipt by the Client of the Options Contracts, monies and other property referred to in Clause 12.1 above, (ii) any corporate action, legal proceedings or other formal procedure or formal step is taken in relation to the winding-up, dissolution or re-organisation of the Client, (iii) the occurrence of an Event of Default, (iv) any person taking any step to effect any expropriation, attachment, sequestration, distress or execution against any of
the Options Contracts, monies and other property referred to in Clause 12.1 above, or (v) the issue of a written notice by GTJAS to the Client if GTJAS considers it desirable to convert any floating charge created pursuant to this Clause 12.2 in order to protect or preserve the security over the Options Contracts, monies and other property referred to in Clause 12.1 above and/or the priority of the charge.
12.3. The charges under Clauses 12.1 and 12.2 shall be continuing notwithstanding any intermediate payment or settlement of account or satisfaction of the whole or any part of any sum owed by the Client to GTJAS or any other member of GTJA Group notwithstanding the closing of any the Client’s accounts with GTJAS or any other member of GTJA Group and which are subsequently reopened or the subsequent opening of any account by the Client either alone or jointly with others and shall extend to cover all or any sum of monies which shall for the time being constitute the balance due from the Client to GTJAS or any other member of GTJA Group on any account or otherwise.
12.4. The Client represents and warrants that:-
(a) the Options Contracts, monies and other property held or carried in the Account is legally and beneficially owned by the Client; and
(b) the Options Contracts, monies and other property are and will remain free from any lien, charge or encumbrance of any kind.
12.5. Upon irrevocable payment in full of all sums which may be or become payable to GTJAS or any other member of GTJA Group under this Agreement or any agreement with any other member of the GTJA Group, and the full performance of the Client’s obligations towards GTJAS and/or any other member of GTJA Group, GTJAS will at the Client’s request and expense release to the Client all the rights, title and interests of GTJAS in the Options Contracts, monies and other property held or carried in the Account and will give such instructions and directions as the Client may require in order to perfect such release.
12.6. The Client agrees to do all such things and execute all such documents which GTJAS shall from time to time consider necessary or desirable in connection with the implementation, execution and enforcement of any of the terms of this Agreement or with a view to perfecting or improving any security created in favor of GTJAS.
12.7. At the request of GTJAS, the Client shall procure that such persons as are acceptable to GTJAS to grant further security in terms satisfactory to GTJAS in respect of any of the obligations of the Client under this Agreement.
12.8. Without prejudice to any rights to which GTJAS may be entitled to by law, the Client authorize and agree that GTJAS may deal with securities or securities collateral from time to time received or held on Client’s behalf in one or more of the following ways, namely to:-
(a) apply any of Client’s securities or securities collateral pursuant to a securities borrowing and lending agreement;
(b) deposit any of Client’s securities collateral with an authorized financial institution as collateral for financial accommodation provided to GTJAS;
(c) deposit any of Client’s securities collateral with (i) a recognized clearing house; or (ii) another intermediary licensed or registered for dealing in securities, as collateral for the discharge and satisfaction of GTJAS’s settlement obligation and liabilities.
Such authority shall remain valid for a period of 12 months from the date when Client’s Account is first approved by GTJAS to conduct trading in Options Contracts unless Client gives not less than five business days’ prior written notice to GTJAS to revoke the same at any time, provided that no such revocation shall be effective if there is outstanding liability owing by Client or on Client’s behalf to GTJAS. Such standing authority which is not revoked prior to its expiry may be renewed or shall be deemed to have been renewed in accordance with the relevant provisions of the SFO.
12.9. Right to Loan/Pledge Client Assets: To the extent allowed by the relevant Rules, GTJAS may, from time to time and without notice to the Client, lend pledge, re-pledge, hypothecate, re-hypothecate or create security interest over any assets in Client’s Account, separately or together with those of other clients, without retaining in GTJAS’s possession or control a like amount of assets. To the extent allowed by the relevant Rules, GTJAS is authorized by Client to lend either to itself or to others as principal or agent any securities or other properties in the Client’s Account. Client acknowledges that for such loan of securities or other property: (i) GTJAS may receive financial and other benefits to which Client is not entitled; (ii) loans of securities or other property generally will prevent the Client from exercising voting rights or receiving dividends, in whole or in part, with respect to the securities or other property lent; (iii) dividends paid on such securities or other property will go to the borrower
and not to the Client and no compensation or reimbursements will be due to the Client; (iv) if the Client is allocated a substitute payment in lieu of dividends, such a payment may not be entitled to the same tax treatment as receipt of a dividend, and GTJAS is not required to compensate the Client for any differential tax treatment between dividends and payments in lieu of dividends.
13. EVENT OF DEFAULT
13.1. Any one of the following events shall constitute an event of default (“Event of Default”):
(a) the Client's failure to pay any deposits, Margins, premium, exercise price of any Options Contract payable by it or any other sums payable to the GTJAS in connection with the Account(s), or submit to GTJAS any documents or deliver any securities to GTJAS hereunder, when called upon to do so or on due date;
(b) default by the Client in the due performance of any of the terms of this Agreement including its delivery and settlement obligations and the observance of any Rules;
(c) Client breaches, repudiates, or defaults in any way on any agreement with GTJAS or with any third party;
(d) the Client's failure to liquidate any debit balance or any of the Client's Account(s), when called upon to do so or otherwise agreed;
(e) the filing of a petition in bankruptcy, winding up, relief of debtors or the commencement of other analogous proceedings against the Client;
(f) Client makes an assignment for the benefit of creditors;
(g) a receiver, trustee, conservator, liquidator, or similar officer is appointed for the Client or any of the Client’s property;
(h) the death of the Client (being an individual);
(i) the levy or enforcement of any attachment, execution or other process against the Client;
(j) any representation or warranty made by the Client to GTJAS in this Agreement or in any document being or becoming incorrect or misleading;
(k) any consent, authorisation or board resolution required by the Client (being a corporation or a partnership) to enter into this Agreement being wholly or partly revoked, suspended, terminated or ceasing to remain in full force and effect;
(l) the occurrence of any event which, in the sole opinion of GTJAS, might jeopardize any of its rights under this Agreement;
(m) GTJAS has made at least two attempts to demand from the Client any Margin, but, for whatever reason, has not been able to communicate directly with the Client;
(n) any proceeding is commenced with respect to any of Client’s property; and
(o) GTJAS has reason to believe that any of the foregoing is likely to occur imminently.
(a) decline to accept further Instructions from the Client in respect of the options trading under this Agreement;
(b) immediately close the Account(s);
(c) terminate all or any part of this Agreement;
(d) cancel any or all outstanding Instructions or any other commitments made on behalf of the Client;
(e) close out, give up or exercise any or all Options Contracts, cover any short position of the Client through the purchase of securities or liquidate any long position of the Client through the sale of securities;
(f) enter into Options Contracts or transactions in securities, futures or commodities (on an exchange or otherwise), for the purpose of meeting obligations arising or hedging risks to which GTJAS is exposed in relation to the Client's default;
(g) dispose of any or all of the Margin, collateral or securities held for or and on behalf of the Client and to apply the proceeds thereof and any cash deposit to discharge the Client's liabilities to GTJAS;
(h) combine, consolidate and set-off any or all accounts of the Client in accordance with Clause 17; and
(i) take any action deemed fit by GTJAS in its absolute discretion.
13.3. In the event of any actions taken pursuant to this Clause:-
(a) GTJAS shall not be responsible for any loss occasioned thereby howsoever arising if GTJAS has already used reasonable endeavors to close out, give up or exercise Options Contracts, cover short positions through the purchase of securities or liquidate long positions at the then available market price;
(b) GTJAS shall be entitled to close out and/or liquidate all or any of the Options Contracts pursuant to this Clause at the then current price without being in any way responsible for loss occasioned thereby howsoever arising and without being accountable for any profit made by GTJAS; and
(c) the Client undertakes to pay to GTJAS any deficiency if the net proceeds of sale and/or liquidation of Options Contracts shall be insufficient to cover all the outstanding balances owing by the Client to GTJAS.
14. CONTRACT SPECIFICATIONS, MARGIN PROCEDURES AND CLOSURE OF POSITIONS
14.1. Without prejudice to GTJAS's rights under Clause 13.2 above, GTJAS may, without the Client's consent, close all or any of the Client's positions if GTJAS is of the opinion that there has been a change or development involving a prospective change:-
(a) in the local, national or international monetary, financial, economic or political conditions or foreign exchange controls which has resulted or is in the opinion of GTJAS likely to result in a material or adverse fluctuation in the stock market or Options market in Hong Kong and/or overseas; or
(b) which is or may be of a material adverse nature affecting the condition or operations of the Client.
14.2. GTJAS shall provide to the Client upon written request options contract specifications or other product specifications, any prospectus or other offering document covering such products, and shall provide to the Client a full explanation of margin procedures.
15. SUSPICIOUS ACTIVITY
If GTJAS in its sole discretion believes that an Account has been involved in any fraud or crime or violation of laws or regulations, or has been accessed unlawfully, or is otherwise involved in any suspicious activity (whether victim or perpetrator or otherwise), GTJAS may suspend or freeze the Account or any privileges of the Account, may freeze or liquidate funds or assets or may utilize any of the remedies in this Agreement or available under law.
16. STANDING AUTHORITIES
16.1. In respect of Options listed in Hong Kong where Securities and Futures (Client Money) Rules or Securities and Futures (Client Securities) Rules are applicable:
(a) The Client Money Standing Authority covers money held or received by GTJAS in Hong Kong (including any interest derived from the holding of the money which does not belong to GTJAS) in one or more segregated account(s) on the Client's behalf (“Monies”).
(b) The Client authorizes GTJAS to:
(i) combine or consolidate any or all segregated accounts, of any nature whatsoever and either individually or jointly with others, maintained by GTJAS and GTJAS may transfer any sum of Monies to and between such segregated account(s) to satisfy the Client's obligations or liabilities to GTJAS, whether such obligations and liabilities are actual or contingent, primary or collateral, secured or unsecured, or joint or several; and
(ii) transfer any sum of Monies interchangeably between any of the segregated accounts maintained at any time by GTJAS.
(c) The Client Securities Standing Authority is in respect of the treatment of the Client's securities as set out below in this Clause 16.
(d) The Client authorizes GTJAS to deposit the securities with the SEOCH as SEOCH Collateral in respect of SEHK traded stock options resulting from the Client's instructions to GTJAS.
(e) The Client acknowledges and agrees that GTJAS may do any of the things set out in Clauses 16.1(b) and (d) without giving the Client notice.
(f) The Client also acknowledges that:-
(i) the Client Money Standing Authority is given without prejudice to other authorities or rights which GTJAS may have in relation to dealing in Monies in the segregated accounts; and
(ii) the Client Securities Standing Authority shall not affect GTJAS's right to dispose or initiate a disposal of by GTJAS's associated entity of the Client's securities or securities collateral in settlement of any liability owed by or on behalf of the Client to GTJAS.
(g) The Client understands that a third party may have rights to the Client's securities, which GTJAS must satisfy before the Client's securities can be returned to the Client.
(h) Each of the Client Money Standing Authority and the Client Securities Standing Authority is valid for a period of 12 months from the date of this Agreement, subject to renewal by the Client or deemed renewal under the Securities and Futures (Client Money) Rules or Securities and Futures (Client Securities) Rules (as the case may be) referred to in Clause 16.1(j).
(i) Each of the Client Money Standing Authority and the Client Securities Standing Authority may be revoked by Client by giving GTJAS written notice addressed to the Customer Service Department at GTJAS's address specified in the Account Opening Form or such other address which GTJAS may notify the Client in writing for this purpose. Such notice shall take effect upon the expiry of 14 days from the date of GTJAS's actual receipt of such notice.
(j) The Client understands that each of the Client Money Standing Authority and the Client Securities Standing Authority shall be deemed to be renewed on a continuing basis without the Client's written consent if GTJAS issues the Client a written reminder at least 14 days prior to the expiry date of the relevant authority, and the Client does not object to such deemed renewal before such expiry date.
(a) The Client authorizes GTJAS to:
(i) combine or consolidate any or all Accounts, of any nature whatsoever and either individually or jointly with others, and GTJAS may transfer any sum of monies to and between such Accounts to satisfy the Client's obligations or liabilities to GTJAS, whether such obligations and liabilities are actual or contingent, primary or collateral, secured or unsecured, or joint or several; and
(ii) transfer any sum of monies interchangeably between any of the Accounts.
(b) The Client authorizes GTJAS to deposit the securities with the relevant exchange or clearing house as collateral in respect of Options resulting from the Client's instructions to GTJAS.
(c) The Client acknowledges and agrees that GTJAS may do any of the things set out in Clauses 16.2(a) and (b) without giving the Client notice.
(d) The Client also acknowledges that:-
(i) the authorization in this Clause 16.2 is given without prejudice to other authorities or rights which GTJAS may have in relation to dealing in monies in the accounts; and
(ii) the authorization in this Clause 16.2 shall not affect GTJAS's right to dispose or initiate a disposal of by GTJAS's associated entity of the Client's securities or securities collateral in settlement of any liability owed by or on behalf of the Client to GTJAS.
(e) The Client understands that a third party may have rights to the Client's securities, which GTJAS must satisfy before the Client's securities can be returned to the Client.
17. SET-OFF AND COMBINATION OF ACCOUNTS
17.1. GTJAS may, at any time, combine or consolidate all or any of such accounts as are for the time being opened and maintained by the Client with GTJAS or other GTJA Group companies, including the Account, and the Client hereby irrevocably authorizes GTJAS (without prejudice to the other authorities granted to GTJAS hereunder):-
(a) to instruct other member of GTJA Group to transfer on the Client’s behalf any funds standing from time to time in any account maintained at any time by the Client with other member of GTJA Group to any of the Client’s account maintained at any time with GTJAS;
(b) to transfer any funds standing from time to time in any account maintained by the Client with GTJAS to any account maintained at any time by the Client with other member of GTJA Group;
(c) to set-off or transfer any sum standing to the credit of any one or more such accounts by the Client in or towards satisfaction of the Client’s indebtedness, obligation or liability to GTJAS, other member of GTJA Group or GTJAS’s affiliates on any of the accounts or in any other respect whatsoever, whether such indebtedness, obligations or liabilities be present or future, actual or contingent, primary or collateral, several or joint, secured or unsecured; and
(d) to give other member of GTJA Group notice of such authority, and when such combination, consolidation, set-off or transfer requires the conversion of the currency into another, such conversion shall be calculated at such rate of exchange as conclusively determined by GTJAS’s prevailing in such foreign exchange market as GTJAS may at its absolute discretion (but shall notify the Client of GTJAS’s decision) select on or about the date of the combination, consolidation, set-off or transfer.
In respect of any payments by GTJAS to offset and discharge any of the Client’s obligations to other member of GTJA Group or GTJAS’s affiliates, GTJAS shall not be concerned whether or not such obligation exist, provided demand has been made on GTJAS by other member of GTJA Group or GTJAS’s affiliates.
17.2. Unless expressly provided otherwise in the Agreement, all sums payable by the Client under the Agreement shall be paid in full without set-off or counterclaim or any restriction or condition.
17.3. The Client irrevocably and unconditionally authorises GTJAS to apply any amounts (in whatever currency) standing to the credit of the Accounts and/or any other account(s) in the Client's name with GTJAS or GTJAS’s Affiliates in reduction of any amounts (whether matured or contingent) payable by the Client under the Agreement.
17.4. In addition to any right of set-off, offset, combination of accounts, lien, right of retention or withholding or similar right GTJAS may have under the Agreement or by law, GTJAS may, without prior notice to the Client or any other person, set off any sum or obligation (whether or not arising under the Agreement, whether matured or contingent and irrespective of the currency, place of payment or booking office of the sum or obligation) owed by the Client to GTJAS or any Affiliate of GTJAS against any sum or obligation (whether or not arising under the Agreement, whether matured or contingent and irrespective of the currency, place of payment or booking office of the sum or obligation) owed by GTJAS or any Affiliate of GTJAS to the Client.
17.5. The rights of set-off hereby conferred are in addition and without prejudice to any general right of set-off arising by law or any other rights granted to GTJAS under this Agreement or any lien or other security now or hereafter held by GTJAS.
18. ELECTRONIC TRADING SERVICE (“ETS”)
18.1. The Client hereby confirms that due to unpredictable traffic congestion and other reasons, the ETS through which the client may place Options trading orders may not be a reliable medium of communication and that such unreliability is beyond the control of GTJAS. This may give rise to situations including delays in transmission and receipt of the Client’s instructions or other information, delays in execution or execution of the Client's instructions at prices different from those prevailing at the time the Client’s instructions were given, misunderstanding and errors in any communication between the Client and GTJAS and so on. Whilst GTJAS will take every possible step to safeguard its systems, client information, accounts and assets held for the benefit of GTJAS’s clients, the Client accepts the risk of conducting Options transactions via the ETS.
18.2. Client acknowledges that GTJAS does not know whether someone entering orders with Client’s user name and password is the Client. Client acknowledges and confirms that Client will be the only person who can and will access the Client’s Account and Client will not allow anyone to access Client’s Account. Client is responsible for the confidentiality and use of Client’s user name and password and agrees to report any theft or loss of such user name or password, or any unauthorized access to Client’s Account, to GTJAS immediately. Client remains responsible for all transactions entered using Client’s user name and password.
19. AEOI Compliance
19.1. The Client shall provide to GTJAS, GTJA Group, their agents or service providers, upon request, any documentation or other information regarding the Client and its beneficial owners that GTJAS, GTJA Group, their agents or service providers may require from time to time in connection with their obligations under, and compliance with, applicable laws and regulations including, but not limited to, AEOI. The Client hereby agrees and consents that GTJAS, GTJAS’s affiliated companies and their agents and service providers may collect, store and process information obtained from the Client or otherwise in connection with this Agreement and/or the Client’s Options transactions for the purposes of complying with AEOI and/or other applicable law, including disclosures between GTJAS and any of them and to the governmental authorities of the United States of America, Hong Kong and/or other jurisdictions. To the extent permitted by law, Client hereby waives any provision of any data protection, privacy, banking secrecy or other law or regulation of any jurisdiction and/or the terms of any confidentiality agreement, arrangement or understanding that would otherwise prevent compliance by GTJAS, GTJAS’s affiliated companies and their agents and service providers with AEOI and/or other applicable law. The Client acknowledges that this may include transfers of information to jurisdictions which do not have strict data protection, data privacy laws or banking secrecy laws. The Client shall ensure that, before the Client or anyone on its behalf discloses information relating to any third party to GTJAS, GTJAS’s affiliated companies or their agents or service providers in connection with this Agreement or the Client’s Options transactions that third party has been provided with such information and has given such consents or waivers as are necessary to allow GTJAS, GTJAS’s affiliated companies and their agents and service providers to collect, store, process and disclose his, her or its information as described in this Clause.
19.2. The Client shall upon request by GTJAS confirm to GTJAS (i) whether the Client is a person who is entitled to receive payments free from any deduction or withholding as required by AEOI (the “AEOI Exempt Person”); and (ii) supply to GTJAS such forms, documentation and other information relating to the Client’s status under AEOI (including its applicable passthru rate or other information required under the US Treasury Regulations or other official guidance including intergovernmental agreements) as GTJAS reasonably requests for the purposes of that GTJAS’s compliance with AEOI (and the compliance of any of GTJA’s affiliated companies).
If the Client confirm to GTJAS pursuant to the above that the Client is a AEOI Exempt Person and the Client subsequently becomes aware that the Client is not, or has ceased to be a AEOI Exempt Person, the Client shall notify GTJAS as soon as reasonably practicable.
If the Client fails to confirm its status or to supply forms, documentation or other information requested in accordance with paragraph (a) above (including, for avoidance of doubt, where paragraph (b) above applies), then:
(i) If the Client failed to confirm whether the Client is (and/or remains) a AEOI Exempt Person then the Client will be treated as if the Client is not a AEOI Exempt Person; and
(ii) If the Client failed to confirm its applicable passthru rate then the Client will be treated as if its applicable passthru rate is 100%, until such time as the Client provide GTJAS the requested confirmation, forms, documentation or other information.
19.3. If GTJAS is required pursuant to AEOI or otherwise by law to withhold or deduct any AEOI withholding taxes (including any penalties or interest payable in connection with any failure to pay or any delay in paying any such taxes) on any payments to the Client, GTJAS may deduct such taxes. GTJAS will not be required to increase any payment in respect of which GTJAS makes such withholding. The Client shall be treated for all purposes of this Agreement as if the Client had received the full amount of the payment, without any deduction or withholding.
The Client shall provide GTJAS such additional documentation reasonably requested by GTJAS to determine the amount to deduct and withhold from such payment.
20. PERSONAL DATA (PRIVACY) ORDINANCE (CAP.486)
20.1. The Client may from time to time be requested by the GTJAS to supply personal data (as defined under the PDPO) relating to the Client. For the purposes of this Clause 20, personal data means all information recorded electronically or by other means, that is related to identified or identifiable natural persons, (i) in the case of individual account holders, joint account holders or sole proprietors, means personal data relating to the relevant individual concerned; (ii) in the case of a partnership, means personal data relating to each partner of the partnership; and (iii) in the case of a corporate entity, means personal data relating to any individual director, shareholder, officer or manager which has been provided to GTJAS.
20.2. The Client shall provide all such personal data as shall be reasonably requested by GTJAS in the Account Opening Form or otherwise, and any failure to do so may result in GTJAS being unable to open or continue the Account, or to effect transactions under the Account. The Client shall provide all such personal data as shall be reasonably requested by GTJAS in the Account Opening Form, the GTJAS's mobile application programme ("APP") or otherwise, and any failure to do so may result in GTJAS being unable to open or continue the Account, or to effect transactions under the Account.
20.3. The Client understands and accepts that GTJAS may provide personal data received from the Client to the following persons (whether within or outside of Hong Kong) for the purposes set out in The Client understands and accepts that GTJAS may provide personal data received from the Client to the following persons for the purposes set out in Clause 20.4:-
(a) any nominees in whose name securities or other assets may be registered any nominees in whose name securities or other assets may be registered;
(b) any member or affiliated or related company in the GTJA Group including but not limited to GTJAS’s parent and/or subsidiary companies any member or affiliated or related company in the GTJA Group including but not limited to GTJAS’s parent and/or subsidiary companies;
(c) any contractor, adviser, agent or third party service provider which provides administrative, background checking, data processing, financial, computer, telecommunication, payment or clearing, professional or other services to GTJAS in connection with the operation of its business or provision of financial services or products to the Clientany contractor, adviser, agent or third party service provider which provides administrative, background checking, certification, data processing, financial, computer, telecommunication, payment or clearing, trading, execution, professional or other services to GTJAS in connection with the operation of its business or provision of financial services or products to the Client;
(d) credit reference agencies, and, in the event of default, to debt collection agencies credit reference agencies, and, in the event of default, to debt collection agencies;
(e) any person with whom GTJAS enters into or proposes to enter into a transaction with on behalf of the Client or the Account, or the persons representing the same any person with whom GTJAS enters into or proposes to enter into a transaction with on behalf of the Client or the Account, or the persons representing the same;
(f) any person who provides financial services or issues, distributes or provides financial products to the Client through or with GTJAS any person who provides financial services or issues, distributes or provides financial products to the Client through or with GTJAS;
(g) any foreign or local exchanges of securities, futures and/or other financial products where the Client’s orders to buy or sell such securities, futures and/or other financial products are placed or transacted; or their associated clearing houses or operatorsany foreign or local exchanges of securities, futures and/or other financial products where the Client’s orders to buy or sell such securities, futures and/or other financial products are placed or transacted; or their associated clearing houses or operators;
(h) any assignee, transferee, participant, sub-participant, delegate, successor or person to whom this Agreement is novated any assignee, transferee, participant, sub-participant, delegate, successor or person to whom any agreement between the Client and GTJAS is novated; and
(i) any foreign or local governmental, regulatory, supervisory, tax, law enforcement or other authorities, bodies or institutions any foreign or local governmental, regulatory, supervisory, tax, law enforcement or other authorities, bodies or institutions.
20.4. The Client understands and accepts that the purposes for which the personal data provided by the Client from time to time may be used are The Client understands and accepts that the purposes for which the personal data provided by the Client from time to time may be used are:-
(a) executing or giving effect to the Client’s orders relating to transactions or otherwise, and carrying out the Client’s other Instruction executing or giving effect to the Client’s orders relating to transactions or otherwise, and carrying out the Client’s other instruction;
(b) providing financial services or products to the Client or in connection with the Account, whether the services or products are provided by or through any other member of GTJA Group or any other person, within or outside Hong Kong providing financial services or products to the Client or in connection with the Account, whether the services or products are provided by or through any member of GTJA Group or any other person;
(c) providing personalized financial analysis and planning or designing financial services or products for the Client’s use providing personalized financial analysis and planning or designing financial services or products for the Client's use;
(d) marketing services or products which may be of interest to the Client marketing services or products which may be of interest to the Client;
(e) conducting credit inquiries or background checks on the Client and ascertaining the Client’s financial situation and investment objectives conducting credit inquiries or background checks on the Client and ascertaining the Client’s financial situation and investment objectives;
(f) collecting of amounts due, enforcing of security, charges or other rights and interests in favour of GTJAS or any member of GTJA Group collecting of amounts due, enforcing of security, charges or other rights and interests in favour of GTJAS or any member of GTJA Group;
(g) complying with and/or enabling any affiliated or related company in the GTJA Group to comply with any foreign or local laws, regulations (including Foreign Account Tax Compliance Act, Automatic Exchange Of Financial Account Information, Common Reporting Standards and similar regulations), notifications, directives, guidelines or guidance given or issued by or in agreement with any legal, regulatory, governmental, tax, law enforcement or other authorities, exchanges, or self-regulatory or industry bodies or associations of financial services providers, within or outside Hong Kong, existing currently and in the futurecomplying with and/or enabling any affiliated or related company in the GTJA Group to comply with any foreign or local laws, regulations (including but not limited to Foreign Account Tax Compliance Act, Automatic Exchange Of Financial Account Information, Common Reporting Standards and similar regulations), notifications, directives, guidelines or guidance given or issued by or in agreement with any legal, regulatory, governmental, tax, law enforcement or other authorities, exchanges, or self-regulatory or industry bodies or associations of financial services providers of the relevant jurisdictions, existing currently and in the future;
(h) complying with obligations, requirements, policies, procedures, measures and arrangements for sharing personal data and information within the GTJA Group and/or any other use of personal data in accordance with any GTJA Group wide programmes for compliance with sanctions or prevention or detection of money laundering, terrorist financing or other unlawful activitiescomplying with sanctions or prevention or detection of money laundering, terrorist financing or other unlawful activities in accordance with applicable laws and regulations and GTJA Group’s policies, procedures, measures and arrangements; and
(i) other purposes related or incidental to any one or more of the aboveother purposes related or incidental to any one or more of the above.
20.5. GTJAS may from time to time transfer the personal data of the Client outside Hong Kong to any of the persons referred to in Clause 20.3 above and for any of the purposes referred to in Clause 20.4 above. GTJAS may from time to time transfer the personal data of the Client to any of the persons referred to in Clause 20.3 above and for any of the purposes referred to in Clause 20.4 above. The Client may request for (a) the contact details of these third parties/recipients within the GTJA Group and (b) further details about how they collect and process personal data of the Client by contacting GTJAS in accordance with Clause 20.14. GTJAS takes appropriate measures in accordance with applicable laws and regulations to safeguard the personal data of the Client
transferred to such third parties from GTJAS, including without limitation to, entering into appropriate contractual arrangements with such third parties.
20.6. The Client acknowledges and understands that under the following circumstances and to the extent allowed under applicable laws or regulations, GTJAS may process the Client's personal data without consent:
(i) if it is necessary for the conclusion or performance of any contract to which the Client is a party;
(ii) if it is necessary for performing statutory duties or obligations under applicable laws or regulations;
(iii) if it is necessary for responding to public health incidents or for the protection of personal and property security in the case of an emergency;
(iv) if such personal data has been disclosed publicly or through other legal channels and the processing is within a reasonable scope; or
(v) if conducted under other scenarios permitted by applicable laws and regulations.
20.7. Use of Personal Data for Know-your-Client Requirements
The Client acknowledges and agrees that GTJAS may collect and process certain personal data of the Client through the APP, including without limitation to, (i) name; (ii) biometric information such as facial image and information with respect to the key features obtained through facial recognition; (iii) bank card number; and (iv) identity card or passport.
The Client acknowledges and understands that the personal data so collected will only be used for satisfying the "know-your-client" requirements in accordance with applicable laws and regulations and GTJA Group’s policies and procedures.
The Client can contact GTJAS any time in accordance with Clause 20.14 to withdraw consent under this sub- paragraph but the Client acknowledges that GTJAS is unable to continually provide any services for the Client following such withdrawal of consent.
20.5.20.8. Use of Personal Data in Direct Marketing
GTJAS intends to use, from time to time, Client’s personal data in direct marketing of financial products and services, including but not limited to securities, futures, fixed income, currencies, commodities, wealth management, asset management, equity financing, equity derivatives, insurance, and other financial products and services. Only the following kinds of personal data of the Client may be used in such direct marketing: GTJAS intends to use, from time to time, Client’s personal data in direct marketing of financial products and services, including but not limited to securities, futures, fixed income, currencies, commodities, wealth management, asset management, equity financing, equity derivatives, insurance, and other financial products and services. Only the following kinds of personal data of the Client may be used in such direct marketing:
(i) name;
(ii) gender;
(iii) date of birth;
(iv) part of identity card or passport number;
(v) contact information (including but not limited to phone number, fax number, email address, correspondence address and residential address); and
(vi) information about the products and/or services the Client has purchased or applied for.
GTJAS may not so use the data unless it has received the Client’s consent to the intended use.
The Client can contact GTJAS any time in accordance with Clause 20.14 to withdraw consent if the Client no longer wants GTJAS to use the personal data of the Client for direct marketing. Such withdrawal of consent for using
personal data in direct marketing shall not affect the Client's consent given to GTJAS for using personal data for other purposes as provided in this Clause 20.
20.6.20.9. Provision of Personal Data for Use in Direct Marketing
GTJAS intends to provide, from time to time and for money and other property, Client’s personal data to GTJA Group (other than GTJAS itself) for use by GTJA Group in direct marketing of financial products and services, including but not limited to securities, futures, fixed income, currencies, commodities, wealth management, asset management, equity financing, equity derivatives, insurance, and other financial products and services. Only the following kinds of personal data of the Client may be provided to GTJA Group (other than GTJAS itself) for use by GTJA Group in such direct marketingGTJAS intends to provide, from time to time and for money and other property, Client’s personal data to GTJA Group (other than GTJAS itself) for use by GTJA Group in direct marketing of financial products and services, including but not limited to securities, futures, fixed income, currencies, commodities, wealth management, asset management, equity financing, equity derivatives, insurance, and other financial products and services. Only the following kinds of personal data of the Client may be provided to GTJA Group (other than GTJAS itself) for use by GTJA Group in such direct marketing:
(i) name;
(ii) gender;
(iii) date of birth;
(iv) part of identity card or passport number;
(v) contact information (including but not limited to phone number, fax number, email address, correspondence address and residential address); and
(vi) information about the products and/or services the Client has purchased or applied for.
GTJAS may not so use the data unless it has received the Client’s consent to the intended use.
The Client can contact GTJAS any time in accordance with Clause 20.14 to withdraw consent if the Client no longer wants GTJAS to use the personal data of the Client for direct marketing. Such withdrawal of consent for using personal data in direct marketing shall not affect the Client's consent given to GTJAS for using personal data for other purposes as provided in this Clause 20.
20.10. Provision of personal data to the Stock Exchange of Hong Kong (“Exchange”) and the Securities and Futures Commission (“SFC”)
The Client acknowledges and agrees that GTJAS may collect, store, process, use, disclose and transfer personal data relating to the Client (including the Client’s CID and BCAN(s)) as required for GTJAS to provide services to the Client in relation to securities listed or traded on the Exchange and for complying with the rules and requirements of the Exchange and the SFC in effect from time to time. Without limiting the foregoing, this includes:
(a) disclosing and transferring the Client’s personal data (including CID and BCAN(s)) to the Exchange and/or the SFC in accordance with the rules and requirements of the Exchange and the SFC in effect from time to time;
(b) allowing the Exchange to: (i) collect, store, process and use the Client’s personal data (including CID and BCAN(s)) for market surveillance and monitoring purposes and enforcement of the Rules of the Exchange; and (ii) disclose and transfer such information to the relevant regulators and law enforcement agencies in Hong Kong (including, but not limited to, the SFC) so as to facilitate the performance of their statutory functions with respect to the Hong Kong financial markets; and (iii) use such information for conducting analysis for the purposes of market oversight; and
(c) allowing the SFC to: (i) collect, store, process and use the Client’s personal data (including CID and BCAN(s)) for the performance of its statutory functions including monitoring, surveillance and enforcement functions with respect to the Hong Kong financial markets; and (ii) disclose and transfer such information to relevant
regulators and law enforcement agencies in Hong Kong in accordance with applicable laws or regulatory requirements.
The Client also agrees that despite any subsequent purported withdrawal of consent by the Client, the Client’s personal data may continue to be stored, processed, used, disclosed or transferred for the above purposes after such purported withdrawal of consent.
Failure to provide GTJAS with the Client's personal data or withholding or withdrawing consent as described above may mean that GTJAS will not, or will no longer be able to, as the case may be, carry out the Client’s trading instructions or provide the Client with securities related services (other than to sell, transfer out or withdraw the Client’s existing holdings of securities, if any).
For the purposes of this Clause 20, “BCAN” shall mean a “Broker-to-Client Assigned Number”, being a unique identification code in the format prescribed by Exchange, generated by a relevant licensed or registered person in accordance with the Exchange’s requirements and “CID” shall mean the following information in relation to a Client to whom a BCAN is assigned: (i) the full name of the Client as shown in the Client’s identity document; (ii) the issuing country or jurisdiction of the identity document; (iii) the identity document type; and (iv) the identity document number.
20.7.20.11. China Connect Securities Trading Service
The Client acknowledges and agrees that in providing GTJAS’s China Connect securities trading service to the Client, GTJAS will be required to:
(i) tag each of the Client’s orders submitted to the China Stock Connect System (“CSC”) with a Broker-to-Client Assigned Number (“BCAN”)BCAN that is unique to the Client or the BCAN that is assigned to the Client’s joint account with GTJAS, as appropriate; and
(ii) provide to the Exchange the Client’s assigned BCAN and such identification information (“Client Identification Data” or “CID”)CID relating to the Client as the Exchange may request from time to time under the Rules of the Exchange.
Without limitation to any notification GTJAS has given the Client or consent GTJAS has obtained from the Client in respect of the processing of the Client’s personal data in connection with the Client’s account and GTJAS’s services to the Client, the Client acknowledges and agrees that GTJAS may collect, store, use, disclose and transfer personal data relating to the Client as required as part of GTJAS’s China Connect securities trading service, including as follows:
(a) to disclose and transfer the Client’s BCAN and CID to the Exchange and the relevant SEHK Subsidiaries from time to time, including by indicating the Client’s BCAN when inputting a China Connect Order into the CSC, which will be further routed to the relevant China Connect Market Operator on a real-time basis;
(b) to allow each of the Exchange and the relevant SEHK Subsidiaries to: (i) collect, use and store the Client’s BCAN,CID and any consolidated, validated and mapped BCANs and CID information provided by the relevant China Connect Clearing House (in the case of storage, by any of them or via HKEX) for market surveillance and monitoring purposes and enforcement of the Rules of the Exchange; (ii) transfer such information to the relevant China Connect Market Operator (directly or through the relevant China Connect Clearing House) from time to time for the purposes set out in (c) and (d) below; and (iii) disclose such information to the relevant regulators and law enforcement agencies in Hong Kong so as to facilitate the performance of their statutory functions with respect to the Hong Kong financial markets;
(c) to allow the relevant China Connect Clearing House to: (i) collect, use and store the Client’s BCAN and CID to facilitate the consolidation and validation of BCANs and CID and the mapping of BCANs and CID with its investor identification database, and provide such consolidated, validated and mapped BCANs and CID information to the relevant China Connect Market Operator, the Exchange and the relevant SEHK Subsidiary;
(ii) use the Client’s BCAN and CID for the performance of its regulatory functions of securities account management; and (iii) disclose such information to the MainlandPRC regulatory authorities and law enforcement agencies having jurisdiction over it so as to facilitate the performance of their regulatory, surveillance and enforcement functions with respect to the MainlandPRC financial markets; and
(d) to allow the relevant China Connect Market Operator to: (i) collect, use and store the Client’s BCAN and CID to facilitate their surveillance and monitoring of securities trading on the relevant China Connect Market through the use of the China Connect Service and enforcement of the rules of the relevant China Connect Market Operator; and (ii) disclose such information to the MainlandPRC regulatory authorities and law enforcement agencies so as to facilitate the performance of their regulatory, surveillance and enforcement functions with respect to the MainlandPRC financial markets.
By instructing GTJAS in respect of any transaction relating to China Connect Securities, the Client acknowledges and agrees that GTJAS may use the Client’s personal data for the purposes of complying with the requirements of the Exchange and its rules as in force from time to time in connection with the Stock Connect Northbound trading. The Client also acknowledges that despite any subsequent purported withdrawal of consent by the Client, the Client’s personal data may continue to be stored, used, disclosed, transferred and otherwise processed for the above purposes, whether before or after such purported withdrawal of consent.
20.8. Consequences of failing to provide Personal Data or Consent
Failure to provide GTJAS with the Client’s personal data or withholding or withdrawing consent as described above may mean that GTJAS will not, or no longer be able, as the case may be, to carry out the Client’s trading instructions or provide the Client with GTJAS’s China Connect securities trading service.
20.12. The Client acknowledges and understands that certain personal data provided to GTJAS may constitute sensitive personal data. GTJAS collects and processes such data solely for the purposes in Clause 20.4 above. GTJAS commits to protect the Client's personal data and has taken steps in this regard. In order to prevent unauthorized people or parties from being able to access the Client's personal data, GTJAS has put in place a range of technical and organisational measures to safeguard and secure the Client's personal data in accordance with applicable laws and regulations.
20.13. GTJAS will always only keep the Client's personal data for as long as GTJAS reasonably needs it for the purposes in Clause 20.4 above or on a longer term basis in accordance with applicable laws and regulations and GTJA Group’s policies and procedures, or until receipt of the Client's request to delete such personal data, subject to limitations on technical feasibility.
20.14. The Client has the right to access and request a copy of such personal data and may request the deletion, correction of the personal data (if applicable). Any such request must, or the withdrawal of consent. In some circumstances, the Client may also have a data portability right to require GTJAS to transfer the Client’s personal data to a third party. Any such requests must be made in accordance with the PDPO requirement under applicable laws and regulations and shall be addressed to the Data Protection Officer of GTJAS at the address at 00/X, Xxx Xxxxx, Xxxxx Xxxxxxxxxx Xxxxx, Xx.000 Xxxxx’x Xxxx Xxxxxxx, Xxxx Xxxx. The Client can also email to xxxxxxxx.xxxxxxx@xxxxx.xxx.xx, or call (000) 0000 0000 to make such request. The Client understands that a fee shall be charged by GTJAS for any such request.repeated and unreasonable requests. For unreasonable requests which may bring risk to other individuals’ legitimate rights or are not operationally/technically feasible, GTJAS reserves the right to decline the Client’s requests in accordance with applicable laws and regulations.
20.9.20.15. The Client acknowledges that if there is any leakage or loss of any personal data of the Client, or any other personal data breach event, while GTJAS will take remedial measures in accordance with applicable laws and regulations and may notify or may not notify the Client in accordance with applicable laws and regulations. The Client acknowledges and agrees that GTJAS may notify the Client of such event, if so notified, GTJAS may use one or more methods, including without limitation, popping-up window notification on GTJAS's website, sending text message/emails or making calls. The Client acknowledges that GTJAS is deemed as satisfying its notification obligation under applicable laws and regulations upon taking one of the above notification action.
21. RISK DISCLOSURE STATEMENTS
21.1. The following statements are furnished to the Client in accordance with the Code of Conduct for Persons Licensed By or Registered With the Securities and Futures Commission.
Risk of Trading Futures and Options
The risk of loss in trading futures contracts or Options is substantial. In some circumstances, the Client may sustain losses in excess of the Client’s initial margin funds. Placing contingent orders, such as “stop-loss” or “stop-limit” orders, will not necessarily avoid loss. Market conditions may make it impossible to execute such orders. The Client may be called upon at short notice to deposit additional margin funds. If the required funds are not provided within the prescribed time, the Client’s position may be liquidated. The Client will remain liable for any resulting deficit in the Client’s account. The Client should therefore study and understand futures contracts
and Options before the Client trades and carefully consider whether such trading is suitable in the light of the Client’s own financial position and investment objectives. If the Client trades Options, GTJAS should inform the Client of exercise and expiration procedures and the Client’s rights and obligations upon exercise or expiry.
Risk of Providing an Authority to Repledge Client Securities Collateral etc.
There is a risk if the Client provides GTJAS with an authority that allows it to lend the Client’s securities or securities collateral pursuant to a securities borrowing and lending agreement, repledge the Client’s securities collateral for financial accommodation or deposit the Client’s securities collateral as collateral for the discharge and satisfaction of its settlement obligations and liabilities.
If the Client’s securities or securities collateral are received or held by GTJAS in Hong Kong, the above arrangement is allowed only if the Client consent in writing. Moreover, unless the Client is a professional investor, the Client’s authority must specify the period for which it is current and be limited to not more than 12 months. If the Client is a professional investor, these restrictions do not apply.
Additionally, the Client’s authority may be deemed to be renewed (i.e. without the Client’s consent) if GTJAS issues the Client a reminder at least 14 days prior to the expiry of the authority, and the Client does not object to such deemed renewal before the expiry date of the then existing authority.
The Client is not required by any law to sign the authorities. But an authority may be required by GTJAS, for example, to facilitate margin lending to the Client or to allow the Client’s securities or securities collateral to be loaned to or deposited as collateral with third parties. GTJAS would explain to the Client the purposes for which one of these authorities is to be used.
If the Client signs one of these authorities and the Client’s securities or securities collateral are lent to or deposited with third parties, those third parties will have a lien or charge on the Client securities or securities collateral. Although GTJAS is responsible to the Client for the Client’s securities or securities collateral lent or deposited under the authority, a default by GTJAS could result in the loss of the Client’s securities or securities collateral.
A cash account not involving securities borrowing and lending is available from most licensed or registered persons. If the Client does not require margin facilities or does not wish the Client’s securities or securities collateral to be lent or pledged, the Client should not sign the authorities and should ask to open this type of cash account.
External position transfer arrangement for the Client Offset Claim Account (“COCA”) in DCASS under GTJAS' default situation
The Client acknowledges that as offset may be available between the positions pairs belonging to different clients maintained in the COCA, any request for external transfer of positions from the COCA under GTJAS' default situation must be for ALL but not part of the positions. As a result, in a default scenario, no position maintained in the COCA could be externally transferred to another company if one or more clients with positions in COCA do not wish to transfer out their positions for whatever reasons.
21.2. Additional Risk Disclosure For Options Trading
This brief statement does not disclose all of the risks and other significant aspects of trading in Options. In light of the risks, the Client should undertake such transactions only if the Client understands the nature of the contracts (and contractual relationships) into which the Client is entering and the extent of the Client’s exposure to risk. Trading in Options is not suitable for many members of the public. The Client should carefully consider whether trading is appropriate for the Client in light of the Client’s experience, objectives, financial resources and other relevant circumstances.
Options
Transactions in Options carry a high degree of risk. Purchasers and sellers of Options should familiarize themselves with the type of Options (i.e. put or call) which they contemplate trading and the associated risks. The Client should calculate the extent to which the value of the Options must increase for the Client’s position to become profitable, taking into account the premium and all transaction costs.
The purchaser of Options may offset or exercise the Options or allow the Options to expire. The exercise of an Options results either in a cash settlement or in the purchaser acquiring or delivering the underlying interest. If the Options is on a future, the purchaser will acquire a futures position with associated liabilities for margin. If the
purchased Options expire worthless, the Client will suffer a total loss of the Client’s investment, which will consist of the Options premium plus transaction costs.
Selling (“writing” or “granting”) an Options generally entails considerably greater risk than purchasing Options. Although the premium received by the seller is fixed, the seller may sustain a loss well in excess of that amount. The seller will be liable for additional margin to maintain the position if the market moves unfavorably.
The seller will also be exposed to the risk of the purchaser exercising the Options and the seller will be obligated to either settle the Options in cash or to acquire or deliver the underlying interest. If the Options is on a future, the seller will acquire a position in a future with associated liabilities for margin. If the Options is “covered” by the seller holding a corresponding position in the underlying interest or a future or another Options, the risk may be reduced.
Certain exchanges in some jurisdictions permit deferred payment of the Options premium, exposing the purchaser to liability for margin payments not exceeding the amount of the premium. The purchaser is still subject to the risk of losing the premium and transaction costs. When the Options is exercised or expires, the purchaser is responsible for any unpaid premium outstanding at that time.
21.3. Additional Risks Common to Futures and Options
Terms and conditions of contracts: The Client should ask the firm with which the Client deals about the terms and conditions of the specific futures or Options which the Client is trading and associated obligations (e.g. the circumstances under which the Client may become obliged to make or take delivery of the underlying interest of a futures contract and, in respect of Options, expiration dates and restrictions on the time for exercise). Under certain circumstances the specifications of outstanding contracts (including the exercise price of an Options) may be modified by the exchange or clearing house to reflect changes in the underlying interest.
Suspension or restriction of trading and pricing relationships: Market conditions (e.g. illiquidity) and/or the operation of the rules of certain markets (e.g. the suspension of trading in any contract or contract month because of price limits or “circuit breakers”) may increase the risk of loss by making it difficult or impossible to effect transactions or liquidate/offset positions. If the Client has sold Options, this may increase the risk of loss.
Further, normal pricing relationships between the underlying interest and the future, and the underlying interest and the Options may not exist. This can occur when, for example, the futures contract underlying the Options is subject to price limits while the Options is not. The absence of an underlying reference price may make it difficult to judge “fair” value.
Deposited cash and property: The Client should familiarize himself/herself with the protections accorded money or other property the Client deposits for domestic and foreign transactions, particularly in the event of a firm insolvency or bankruptcy. The extent to which the Client may recover the Client’s money or property may be governed by specific legislation or local rules. In some jurisdictions, property, which had been specifically identifiable as the Client’s own, will be pro-rated in the same manner as cash for purposes of distribution in the event of a shortfall.
Commission and other charges: Before the Client begins to trade, the Client should obtain a clear explanation of all commission, fees and other charges for which the Client will be liable. These charges will affect the Client’s net profit (if any) or increase the Client’s loss.
Transactions in other jurisdictions: Transactions on markets in other jurisdictions, including markets formally linked to a domestic market, may expose the Client to additional risk. Such markets may be subject to regulation, which may offer different or diminished investor protection. Before the Client trades, the Client should enquire about any rules relevant to the Client’s particular transactions. The Client’s local regulatory authority will be unable to compel the enforcement of the rules of regulatory authorities or markets in other jurisdictions where the Client’s transactions have been effected. The Client should ask the firm with which the Client deals with for details about the types of redress available in both the Client’s home jurisdiction and other relevant jurisdictions before the Client starts to trade.
Currency risks: The profit or loss in transactions in foreign currency-denominated contracts (whether they are traded in the Client’s own or another jurisdiction) will be affected by fluctuations in currency rates where there is a need to convert from the currency denomination of the contract to another currency.
Trading facilities: Most electronic trading facilities are supported by computer-based component systems for the order-routing, execution, matching, registration or clearing of trades. As with all facilities and systems, they are vulnerable to temporary disruption or failure. The Client’s ability to recover certain losses may be subject to
limits on liability imposed by the system provider, the market, the clearing house and/or member firms. Such limits may vary: the Client should ask the firm with which the Client deals for details in this respect.
Electronic trading: If the Client undertakes transactions on an electronic trading system, the Client will be exposed to risks associated with the system including the failure of hardware and software. The result of any system failure may be that the Client’s order is either not executed according to the Client’s Instruction or is not executed at all.
Off-exchange transactions: In some jurisdictions, and only then in restricted circumstances, firms are permitted to effect off-exchange transactions. The firm with which the Client deals with may be acting as the Client’s counterparty to the transaction. It may be difficult or impossible to liquidate an existing position, to assess the value, to determine a fair price or to assess the exposure to risk. For these reasons, these transactions may involve increased risks. Off-exchange transactions may be less regulated or subject to a separate regulatory regime. Before the Client undertakes such transactions, the Client should familiarize himself/herself with applicable rules and attendant risks.
21.4. The Client acknowledges that due to the volatile nature of securities markets, the purchase and writing and writing of options over securities involves a high degree of risk.
Warning to Option Holders
The Client understands that some options may only be exercised on an expiry day (European-style exercise) and that other options may be exercised at any time before expiration (American-style exercise). The Client understands that upon exercise some options require delivery and receipt of the understanding securities and that other options require a cash payment.
The Client is aware that an option is a wasting asset and there is a possibility that as an option holder you may suffer the loss of the total premium paid for the option. The Client is aware that as an option holder in order to realize a profit it will be necessary to either exercise the option or close the long option position in the market. Under some circumstances it may be difficult to trade the option due to lack of liquidity in the market. The Client is also aware that GTJAS has no obligation either to exercise a valuable option in the absence of the Client’s instruction or to give to the Client prior notice of the expiration date of the option.
Warning to Option Writers
The Client is also aware that as a writer of any option the Client may be required to pay additional margin at any time. The Client is aware that as an option writer, unlike an option holder, the Client may be liable for unlimited losses based on the rise or fall of the price of the underlying securities and the Client’s gains are limited to the option premium.
Additionally, writers of American-style call (put) options may be required at any time before expiry to deliver (pay for) the underlying securities to the full value of the strike price multiplied by the number of underlying securities. The Client recognizes that this obligation may be wholly disproportionate to the value of premium received at the time the options were written and may be required at short notice.
21.5. Additional Risk Disclosure Credit Risk of GTJAS
Where we have borrowed, pledged, re-pledge, hypothecated, re-hypothecated or created security interest over assets in Client’s Account to the extent permitted by law, Client will not retain any proprietary interest in such assets. In the event that GTJAS becomes insolvent, Client will become one of GTJAS’s unsecured creditors with only an unsecured contractual claim against GTJAS to claim the value of the asset. What the Client will receive in respect of any debt owed to the Client by GTJAS will depend on the assets available to the creditors of GTJAS after any insolvency procedures have been completed, and the debt may not be repaid in full, or at all.
Credit Risk of GTJAS’s executing broker / custodian
In respect of Options Contracts traded in overseas markets, GTJAS may engage third party executing brokers and custodians, which may or may not be an Affiliate to GTJAS, to execute and clear the trades. GTJAS will exercise due care in the selection of such brokers and custodians but will not be responsible for any loss incurred by the Client as a result of any default (including insolvency) of such executing brokers or custodians. GTJAS and its Affiliates shall in no event be liable for any loss suffered or incurred by the Client in connection with the Agreement or anything whatsoever which may be suffered as a result of any default, insolvency, act or omission
of the such executing brokers and custodians or any person, firm or company through or with whom transactions are effected for the Account.
Risk of Customer’s Assets Received or Held outside Hong Kong
The Client’s assets received or held by GTJAS outside Hong Kong are subject to the applicable laws and regulations of the relevant overseas jurisdiction which may be different from the Securities and Futures Ordinance (Chapter 571 of the Laws of Hong Kong) and the rules made thereunder. Consequently, such client assets may not enjoy the same protection as that conferred on client assets received or held in Hong Kong.
22. THIRD PARTY RIGHTS
A person who is not a party to this Agreement has no right under the Contracts (Rights of Third Parties) Ordinance (Cap. 623) to enforce or to enjoy the benefit of any term of this Agreement.
23. SEVERABILITY
If any provision of this Agreement shall be held to be invalid or unenforceable by any court or regulatory agency or body, such invalidity or unenforceability shall attach only to such provision. The validity of the remaining provisions shall not be affected thereby and this Agreement shall be carried out as if any such invalid or unenforceable provision were not contained here. Time shall be of the essence in relation to all matters arising under this Agreement. Where the Clients consist of more than one person, the liability of each of the Clients shall be joint and several and references to us shall be construed, as the context requires, to any or each of the Clients. GTJAS shall be entitled to deal separately with any of the Clients including the discharge of any liabilities to any extent without affecting the liability of the others.