1、-scope of agreement (-)customer acknowledges and understands that trading and investment in leveraged otc foreign currency contracts is highly speculative, involves an extreme degree of risk, and is generally appropriate only for persons who can assume risk of loss in excess of their margin deposit.
2、 customer understands that because of the low margin/high leverage normally available in foreign currency trading, price changes in foreign currency contracts may result in significant losses. such losses may substantially exceed customers investment and margin deposit. by customer directing snc ?to
3、 enter into any foreign currency contract, any profit or loss arising as a result of a fluctuation in the exchange rate affecting such currency will be entirely for the customers account and risk. /snc ()- customer (if not a natural person) is duly organized and validly existing under the applicable
4、 laws of the jurisdiction of its organization.()- execution and delivery of this agreement and all contracts and other transactions contemplated hereunder and performance of all obligations contemplated under this agreement and all contracts and other transactions contemplated hereunder have been du
5、ly authorized by customer.- each person executing and delivering this agreement and all contracts and other transactions contemplated hereunder on behalf of customer performing the obligations contemplated under this agreement and any contract and other transaction contemplated hereunder on behalf o
6、f customer, has been duly authorized by customer to do so.- execution and delivery by customer of this agreement and all contracts and other transactions contemplated hereunder, and performance of all of customers obligations contemplated under this agreement and any contract and other transaction c
7、ontemplated hereunder, will not violate any statute, rule, regulation, ordinance, charter, by-law or policy applicable to customer. ?-, customer has full beneficial ownership of customers account. customer has not granted and will not grant a security interest in customers account with snc ?(other t
8、han the security interest granted to snc ?hereunder) to any person without snc ?prior written consent. customer has full beneficial ownership of all collateral and will not grant any security interest in any collateral to any person (other than the security interest granted to snc ?hereunder) withou
9、t prior written consent of snc .snc -snc (snc )-snc (snc ) customer will execute and deliver all documents, give all notices, make all filings and take such other actions as snc , in its sole discretion, deems necessary or desirable to evidence or perfect any security interest in favour of snc ?or t
10、o protect snc ?interests with respect to any collateral.snc snc customer hereby warrants that regardless of any subsequent determination to the contrary, customer is suitable to trade foreign currency and is a sophisticated foreign exchange investor. customer has read and understands the risk disclo
11、sure statement contained in this agreement. customer will review snc ?risk disclosures, including, without limitation, snc ?risk disclosure statement, each time they are amended. customer will not affect any opening transaction in customers account unless customer understands snc ?revised risk discl
12、osures, and customer agrees that in effecting any opening transaction it is deemed to represent that it has read and understands snc ?revised risk disclosures as in effect at the time of such opening transaction.-snc snc -snc customer has read and understands the trading policies contained in this a
13、greement, including, without limitation, snc ?trading policies. customer will review snc trading policies, including, without limitation, snc ?trading policies each time they are amended. customer will not affect any opening transaction in customers account unless customer understands snc revised tr
14、ading policies, and customer agrees that in effecting any opening transaction it is deemed to represent that it has read and understands snc ?revised trading policies as in effect at the time of such opening transaction.-snc snc snc snc -snc customer acknowledges that customer has conducted simulate
15、d trading using the snc demo trading platform for a period that has allowed the customer to develop a full understanding of the snc ?internet trading platform an online trading system for spot foreign exchange real-time trading.snc -snc trading customer agrees to be responsible for any transaction i
16、nstruction received by snc either electronically via the snc ?internet trading platform (or similar product), or orally over the telephone.? before executing a transaction, snc will require the customer at least? to provide user name and password authorization electronically via a login procedure or
17、 if contacted via the telephone, orally via an identification procedure.? correct information will authenticate the customer and allow the customer to conduct transactions in the authorized snc account for that authentication. snc snc ()snc -snc if customers account is a joint account, snc is author
18、ized to act on the instructions of any one owner without further inquiry, with regard to trading in the account and/or the disposition of any and all assets in the account. snc shall have no responsibility for further inquiry into such apparent authority and no liability for the consequences of any
19、actions taken or failed to be taken by snc ?and any of its employees in reliance on any such instructions or on the apparent authority of any such authorized person(s). snc /. snc snc ? 4.4? positions and orders limitations ()snc ?reserves the sole discretionary right to limit the number of open pos
20、itions which customer may enter, acquire or maintain with snc , to refuse acceptance of any order entered by customer or to alter its dealing relationship with the customer to include or exclude use of any electronic trading network or other trade execution method in any manner and to any extent. sn
21、c snc ? 4.5 netting ()snc ?retains the right to net all hedged positions at the end of each month at their sole discretion. snc margin requirements ()customer shall provide to and maintain with snc ?margin in such amounts and in such forms, and within such limits as snc , in its sole discretion, may
22、 from time to time require. margin requirements, including initial (opening) margin and maintenance margin requirements, are defined in snc ?trading policies. snc ?may change margin requirements at any time. customer agrees to deposit by immediate wire transfer such additional margin when and as req
23、uired by snc , and will immediately meet all margin calls in such mode of transmission as snc ?shall, in its sole discretion, designate; provided, however, and notwithstanding any demand for additional margin, snc ?may at any time proceed to liquidate customers account in accordance with trading pol
24、icies. any failure by snc ?to enforce its rights hereunder shall not be deemed a future waiver of such rights by snc , and the customer shall impute no liability to snc ?whatsoever for losses resulting from such failure. no previous margin requirement by snc ?shall preclude snc ?from increasing or d
25、ecreasing that requirement without prior notice. snc ?may call for additional margin (margin call) at any time customers margin balance falls below the snc ?maintenance margin level as applied to that account and at any time snc , in its sole discretion, believes that it is prudent to do so. snc ?ma
26、y at any time liquidate customers account in accordance with trading policies and paragraph 12 below. snc snc () snc snc snc snc ,12snc security agreement (-)in order to secure any indebtedness or other obligations at any time owing from customer to snc , including, without limitation, snc indebtedn
27、ess or other obligations under any account, contract or other transaction with snc ?; orsnc any indebtedness or other obligations resulting from any guarantee by customer of any account, contract or other transaction with snc ?, customer hereby assigns, pledges and grants to snc ?a security interest
28、 in and right of setoff against:snc snc all of customers accounts with snc ;snc all contracts, cash and other property in customers account at snc ?or delivered or otherwise provided by customer to secure its indebtedness or other obligations to snc ?or in snc ?possession or control for any purpose
29、(including safekeeping); andsnc snc snc ) all products and proceeds of the foregoing (collectively, (i), (ii) and (iii) are referred to as collateral).any and all contracts and transactions made and entered into by snc ?hereunder as a result of customer directing snc ?to enter into such contracts an
30、d transactions, are made and entered into by snc ?as principal. unless otherwise agreed to in writing snc ?shall act as principal in any and all contracts and transactions with the customer and not as broker, intermediary, agent, and advisor or in any fiduciary capacity. the customer understands and
31、 recognizes that any and all transactions and contracts entered as a result of customer directing snc ?to enter into such transactions and contracts may be entered by snc , as principal, with financial institutions including, without limitation banks, clearing institutions and foreign exchange deale
32、rs (counter party) at the sole discretion and option of snc . customer represents, agrees and authorizes snc ?to act as principal in entering, delivering, selling, purchasing and clearing with counter party any and all customers contracts. customer shall guarantee and hold snc ?harmless against any
33、loss it may sustain thereby. snc ?may, at its sole discretion and option, act as principal in purchasing, selling, delivering and clearing any contracts, including all customers contracts, with the counter party(s). snc -(a)(b)snc (snc )snc snc snc snc snc snc snc ( “ )snc 7 rollovers ()in the absen
34、ce of an offsetting or closing liquidation trade done prior to the close of business, snc ?is authorized to rollover all or any portion of the foreign currency positions in customers account at snc ?s absolute discretion and at customers risk to the next settlement spot date.? rollovers will be exec
35、uted at rates determined by snc and at snc s absolute discretion.? rollover debits or credits will be reflected in the customers account at a time after the normal close of the business day for snc.? snc reserves the right to change at its sole discretion, any rollover debits or credits at any time if snc, at its sole discretion deems that the amount debited or credited was in error. snc snc
