COLLATERALIZED
FACILITY DOCUMENTATION
INDEX/CHECKLIST
Corporate / Personal Application
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INDEX / CHECKLIST |
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TERM SHEET |
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TRADING AUTHORIZATION |
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APPOINMENT OF MANAGER & LETTER OF TRADING AUTHORIZATION |
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RISK DISCLOSURE STATEMENT |
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ELECTRONIC TRADING SYSTEM'S AGREEMENT |
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ACCOUNT APPLICATION |
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OTS NEW ACCOUNT / ADDITIONAL FORM |
SUPPORTING
DOCUMENTS
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PROOF OF RESIDENCY (COPY OF SOME OFFICIAL DOCUMENT, THAT REFLECTS
YOUR RESIDENTIAL ADDRESS e.g. IC COPY & UTILITY BILLS) |
(1) INTERPRETATION
(1.1) Definitions
In this Agreement the following terms have the
following meanings except where the context other requires.
This Agreement means the agreement contained herein.
AT BEST means the best price available to TSD.
AT MARKET means the available price at the time
the customer instructs TSD to buy or sell spot
currencies contracts.
AUTHORIZED EXECUTIVE means a person authorized
by TSD in writing for the purpose of waiving the
rights of TSD pursuant to clause 17.2 hereof and
a notice of authorization of such person shall be posted at a conspicuous
place on the notice board in the office of TSD
and notified to the customer.
BUSINESS DAY means a business day in the relevant
market(s) in which the customer is trading.
CORRESPONDENTS mean persons other than those in
the direct employ of TSD who may call upon by TSD
to act on behalf of TSD and the customer in respect
of any spot currencies and includes an Authorized Executive.
CUSTOMER ACCOUNT means the account to be opened
by TSD for the customer through which all transactions
related to this Agreement shall be routed.
DEPOSITS mean any amount which the customer is
to pay TSD in terms of clause 6.1.
FIXED RATE ORDERS means orders placed by the customer
with TSD whereby the customer wishes to buy or
sell spot currencies contracts at a fixed price only.
LONG POSITION means a buying position and SHORT
POSITION means a selling position.
MARGIN means in relation to any spot currencies
contracts such sum as may be required by TSD to
be paid into the Customer Account by the customer in order to maintain
the deposit in respect of such spot currencies.
MARGIN CALL means any call made by TSD
on the customer to pay a margin to maintain a deposit in respect
of a spot currencies contract.
RISK DISLOSURE STATEMENT means the risk disclosure
statement in the form set out in the schedule hereto completed by
the customer prior to entering into this agreement or contemporaneously
with entering into this agreement.
SPOT CURRENCIES CONTRACTS means contracts involving
the buying and selling of spot currencies on international interbank
currencies markets whereby TSD will quote the customer
a spot interbank rate relevant to the particular currency at which
rate the customer agrees to enter into a contract for the sale or
purchase of a specified amount of that currency.
SPREAD POSITION in respect of spot currencies contracts
means where the customer takes opposite positions in respect thereof,
(e.g. by cross-selling different currencies).
STOP-LIMIT ORDER means an order made by the customer
in respect of a spot currencies contract whereby the customer instructs
TSD to immediately take the customer's position
out when the relevant rate in respect of the spot currencies contracts
reaches a value within a range specified by the customer as its
stop-limit position.
STOP-LOST ORDER means an order made by the customer
in respect of a spot currencies contract whereby the customer instructs
TSD to immediately take out the customer's position
when the relevant rate in respect of the spot currencies reaches
a value specified by the customer as its stop-lost position, notwithstanding
that as a result of the volatile fluctuations which are a characteristics
of spot currencies markets the relevant rate may have fallen below
the specified stop-lost position at the time the customer's position
is taken out.
STOP-ORDER means stop-limit orders and/or stop-loss
orders.
(1.2) Construction
The following provisions shall apply in the construction and interpretation
of this agreement except to the extent that the contents require
modification:
(a) reference to clauses are to clause of this agreement
(b) the headings are for convenience only and shall not affect the
interpretation hereof
(c) words importing the singular number include the plural and vice-versa,
the masculine gender includes the feminine or neuter genders and
vice-versa, reference to person shall include corporations and incorporated
bodies of persons.
(2) APPOINTMENT OF TSD
(2.1) The customer hereby appoints TSD for the
purpose of arranging and concluding spot currencies contracts as
requested by the customer in accordance with clause 6 thereof.
(2.2) The customer acknowledges that as regards
to third parties TSD may at its discretion act
as an agent or principal in all spot currencies contracts but as
between the customer and TSD the customer shall
regarded as principal subject to the terms and conditions of this
agreement.
(2.3) The customer agrees that whether the customer
account is in credit or debit at the time of TSD
acting, TSD is authorized to act on any instructions
whether written or oral and howsoever communicated by the customer
to TSD and the customer further agrees that the
customer shall be responsible to TSD for all engagements,
indebtedness and any other obligation made or entered into by TSD
on behalf of the customer.
(3) TERM
(3.1) This agreement shall commence on the date of execution hereof
and shall continue until terminated by either party pursuant to
the terms of this agreement.
(3.2) Each spot currency contract entered into
pursuant to this agreement shall commence on the date it is entered
into and shall continue until terminated by either party pursuant
to the terms of this agreement.
(4) CONFLICTS OF INTEREST
The customer acknowledges and agrees that TSD carries
on the business of trading in spot currencies contracts on its own
account and on behalf of others and that in respect of any spot
currencies contract TSD may either on behalf of
other customers or on its own account take the position opposite
the customer.
(5) CUSTOMER ACCOUNT
(5.1) TSD shall open a customer account in the
name of the customer and shall keep such books of account as in
its judgement are necessary wherein it shall enter or cause to be
entered all money received and paid and the details of all spot
currencies contracts and all fees, disbursements and charges and
all other matters and accounts which shall be necessary to manifest
the state of the customers account. The books of account shall be
available for inspection by the customer by arrangement during normal
business hours. All statements, advice or documents provided by
TSD in respect of the customer shall in the absence
of manifest error be conclusive and binding upon the customer.
(5.2) No interest shall be earned on any funds
to TSD by the customer as deposits or as margin
calls for deposit into the customer account or on any funds credited
to the customer account by TSD in respect of any
spot currencies contracts.
(5.3) Debit balance in the customer account will
incur penalty interest at the prevailing bank overdraft rate and
in addition TSD will be entitled to hold the customer
accountable for such charges as may be incurred by TSD
as a result of the customer account having a debit balance, under
any facilities and for such extra services, including but not limited
to the fees of TSD legal advisers.
(5.4) It is agreed between TSD
and the customer that the customer may make withdrawals from the
customer account upon giving TSD not less than
14 (fourteen) business days notice in writing provided that the
customer may not withdraw an amount exceeding the credit balance
of the customer account less the aggregate of the margin and the
gross losses calculated at the date of the customer's notice in writing.
Payment will be made to the customer not later that the date of
expiration of the said period of notice.
(6) MANNER AND FORM OF INSTRUCTING TSD
(6.1) Prior to entering into any spot currencies contract the customer
will enquire of TSD the deposit that is required
to be paid in respect thereof. The customer shall have the deposit
credit to the account. Until and unless the deposit is paid and
cleared through the banking system or otherwise credited to the
customer TSD account, TSD shall
be under no obligation to carry out the customer's instructions.
(6.2) Any instruction given by the customer may
be given orally or in writing by the customer and if required by
TSD any such instructions shall be written in a
form satisfactory to TSD provided however that
TSD shall incur no liability whatsoever by reason
of acting or omitting to act on any instruction so given should
there by any error or ambiguity therein.
(7) TSD OBLIGATION IN RESPECT
OF THE CUSTOMER'S INSTRUCTIONS
(7.1) TSD shall use all reasonable endeavors to
fulfill orders placed by the customer. The customer acknowledge
that due to substantial fluctuations and volatile price movements
in spot currencies contracts markets, there may be occasion be a
delay in making prices or in dealing. The customer acknowledges
and accepts that TSD may not be able to trade at
the prices quoted at any specific time or At Best Or At Market.
The customer further acknowledges and accepts that fixed rate orders
or stop orders may not always be possible to execute.
(7.2) In the event of TSD being
unable to fulfill the customer's instructions TSD
shall notify the customer and seek further instructions but except
where TSD has been reckless or grossly negligent.
TSD shall not be under any liability howsoever
caused for any damages, loss or injury suffered in consequence of
failing to fulfill the customer's instructions.
(7.3) TSD shall not be responsible
for any delays in the transmission of orders or for losses caused
directly or indirectly by the breakdown or failure of communication
facilities, government restrictions, exchange or market rulings,
strikes or other industrial disputes or any causes beyond its reasonable
control or anticipation.
(8) INDEMNITY
(8.1) The customer shall indemnify TSD against
and hold harmless from all expenses, liabilities, claims and demands
arising out of anything lawfully done by TSD in
performance of TSD's obligation under the agreement.
(8.2) TSD shall be entitled to
charge the customer account a fee, tax or charge levied in respect
of any spot currencies contracts and any other expenses incurred
by TSD in respect of any spot currencies contracts
including any legal fees and commissions, which amounts shall deducted
from the deposit in the customer account. If the balance in the
customer account is insufficient to cover such commissions and expenses
the balance of the customer account shall automatically become a
debit balance subject to clause 5.3 hereof.
(8.3) Every exemption from liability, defence and
indemnity available to TSD shall also be available
to and extend to protect any person acting on behalf of TSD
for whose benefit this immunity is intended to ensure under the
Contracts Privity Act (from overseas jurisdictions).
(9) MARGIN CALLS
(9.1) The customer agrees that it will at all times maintain the
deposit in respect of any spot currencies contract, and will deposit
on demand such margin calls which TSD may in absolute
discretion deem necessary.
(9.2) Variation Margin
A margin calls shall be required of the customer holding a contract,
in the event that total equity is impaired to the extend of 50%
(fifty percent) of initial margin due to adverse price fluctuations
in the market. In such case, the initial margin shall be restored
by the customer to 100% (one hundred percent) initial required amount
deposited to the company, and an amount of variation margin required
of the customer shall be calculated according to the highest or
lowest price daily solely on the following formula.
Total margin deposit (Less) Impaired margin amount
= Total Equity
Total initial margin (Less) Total Equity = Variation margin
(9.3) All margin calls shall be paid within such
time as TSD may specify, provided that such time
shall not be less than 24 hours of margin call being made whether
orally or in writing.
(9.4) Once deposits and margin calls have been
paid they shall be retained until the liability of the customer
has been extinguished by virtue of the relevant spot currencies
contracts being closed out, or payment being made under the relevant
spot currencies contracts.
(9.5) Upon the failure by the customer for any
reason to maintain the deposit to make payments in respect of margin
calls, or if the customer requests that this agreement be terminated,
or in the event that TSD terminates this agreement
as herein provided, the customer confers upon TSD
the right at TSD's election and without any call
or notice and at the customer's risk to close out the whole or part
of any open spot currencies contracts which may be left unliquidated,
at the discretion of TSD at any market price at
any time TSD thinks fit. The customer acknowledges
that the customer will be liable for any loss or deficiency resulting
therefrom.
(10) CUSTOMER'S WARRANTIES AND ACKNOWLEDGEMENTS
(10.1) In addition to the acknowledgement made by the customer in
the Risk Disclosure Statement the customer warrants that:
(I) The customer has authority and capacity to enter into this agreement.
(II) Where the customer is a natural person, the customer is at
least 21 (twenty-one) years of age.
(III) The customer will observe and accept all rules, margin requirements,
trading facts and timetables for entering into spot currencies contracts,
and/or other matters related to investment as prescribed by TSD
from time to time.
(IV) The customer is acting on its own behalf and not on behalf
of or as agent for another person.
(10.2) The customer acknowledges that while spot
currencies contracts may be closed out at any time, the actTSD
supply of the specified amount of the relevant spot currencies can
of course arranged upon payment in full being received by TSD
in respect thereof.
(10.3) The customer confirms that the risk in-herent
in trading spot currencies contracts have been fully explained by
TSD and the customer shall not be entitled to hold
TSD responsible for any losses or liabilities resulting
from a misunderstanding on the part of the customer.
(10.4) The customer acknowledges and warrants that
although the customer may enter into a spot currencies contract
upon the advice or based on the opinion of TSD
the customer will take full responsibility for any consequences
whatsoever which may arise therefrom.
(11) CLOSING SPOT CURRENCIES CONTRACTS
(11.1) In the event that TSD in its sole discretion
considers it necessary or advisable by virtue of any sudden adverse
movement in spot currencies contract markets, whereby floating losses
amount 50% or more of initial margin and TSD is
not in a position to verify, as to whether the customer is obliging
to his/her call margin, then TSD may with or without
notice to the customer and in such manner as it thinks fit, close
any spot currencies contract.
(11.2) Without limiting the generally of the foregoing
the customer agrees that TSD may close any spot
currencies contract in the following events:
(I) where the customer is a corporation and
(a) a receiver is appointed over its undertaking or any part thereof
by any person or
(b) any compromise or arrangement is proposed or made between the
customer and its creditors or any of them or any class of them or
if an application is made to any court for an order summoning a
meeting of creditors of the customer or
(c) an order is made a resolution passed or petition presented for
the winding up or dissolution of the customer or if the directors
of the customer pass the resolution that in their opinion the customer
cannot any longer continue in its business.
(II) where the customer is a natural person and
(a) he ceases or threaten to cease any business or
(b) he commits and not of bankruptcy or
(c) a receiver is appointed over his property or business or
(d) he becomes of unsound mind or
(e) he dies
(III) where the customer fail to pay TSD
on the due date any money owing under this agreement.
(IV) Pursuant to clause 9.4 of this agreement.
(12) TERMINATION
Without limiting the rights of TSD herein contained,
this agreements may be terminated by either party or written notice
to the other party.
(13) PROCEEDS OF CLOSED SPOT CURRENCIES CONTRACTS
The customer agrees that in respect of the closing of a spot currencies
contract TSD have the right to deduct from any
proceeds
FIRSTLY any cost, expenses and charges that are
due to TSD pursuant to the terms of this agreement
together with interest thereon and all professional costs and other
expenses reasonably incurred by TSD in connection
with the enforcement of the spot currencies contract including solicitors' fees
on a solicitor and own customer basis.
SECONDLY to the payment of any liabilities that
the customer may be obligated to indemnify TSD
against under the terms of this agreement, and THIRDLY if there
always that in the event that such proceeds are insufficient for
the payment of liabilities, the customer shall at all times remain
liable to make up such deficiencies.
(14) LIEN
(14.1) All money which TSD may at any time hold
for the customer for any purpose shall be subjected to a general
lien for the discharge of all obligations of the customer irrespective
of whether or not TSD has made advances in connection
with such money.
(14.2) In addition to any general lien or similar right to which
TSD as dealers or otherwise may be entitled by
law, the customer hereby agrees and irrevocably authorizes TSD
without notice to the customer to set-off or transfer any money
of the customer in or towards satisfaction of any liabilities of
the customer under this agreement and if the customer has more than
one customer account, TSD is hereby irrevocably
authorized to transfer from time to time money between the customer's
accounts.
Further, insofar as any of the customer's liabilities are contingent
or future TSD shall not be obligated to account
for such liabilities until the occurrence of the contingency or
future event.
(15) CONTINGENT AGREEMENT
This agreement shall be a continuing agreement and all provisions
of the customer's contractual relationship shall survive any changes
or succession in the business of TSD.
(16) ASSIGNMENT
This agreement (unless otherwise expressly provided to the contrary)
including the customer's obligation hereunder shall be binding upon
and ensure to the benefit of the customer and TSD
provided that the customer shall not assign any of the customer's
right or obligations hereunder without the prior consent in writing
of the TSD.
(17) WAIVER
(17.1) The parties agree that no waiver of any provision of this
agreement shall be deemed a waiver of any other provision, not a
continuing waiver of the provision or provisions so waived.
(17.2) No act, omission to act or forbearance by
TSD shall be or be deemed to be waiver by TSD
of any of its rights against the customer or against deposits or
other property of the customer on hand with TSD
and any single or partial exercise of any right, power or remedy
hereunder shall not preclude the further exercise thereof, and each
of TSD's rights, powers and remedies shall continue
in full force and effect until such rights, powers and remedies
are specified waived by an instrument in writing executed by an
Authorized Manager or Agent and this Agreement shall continue in
force until its termination by the customer is acknowledged in writing
by an Authorized Manager or Agent or until written notice or termination
by TSD shall have been mailed to the customer's
address last given to TSD.
(17.3) The enforcement of any right hereunder shall
not operate as any waiver, relief or discharge of any deficit or
debit balance which may occur in the customer account.
(18) NOTICES
All communication including Margin Calls may be sent to the customer
at the customer's address or e-mail given to TSD
or at such other addresses as the customer may hereafter give to
TSD in writing, and all communications so sent,
whether in writing, by telephone, e-mail, telex, messenger or otherwise
shall be deemed to be given to the customer personally, whether
actually received or not.
(19) ARBITRATION
In the event of any dispute or difference arising between the parties
as to the construction of this agreement or of the rights, duties
or obligations, by the parties or of any matters arising out of
or concerning the same or under any spot currencies contracts every
such dispute and difference shall be referred to arbitration in
accordance with the provisions of the Arbitration Act and its amendments
or any statutes for the time being replacing, extending or modifying
the same.
TRADING
AUTHORIZATION
To: Top Star Development Co., Ltd.
I, the undersigned, hereby appoint TSD's
agent as my trading account's agent and attorney to buy
and sell (including short sales) at any time and from time in its
absolute discretion spot currencies contracts at their spot rates
for the undersigned's account and to manage any account or accounts
held by me which I may open with you.
The undersigned hereby agrees to indemnify and
hold you harmless from all costs (including legal) due to losses,
indebtedness and
Liabilities arising from all and any such dealings
effected by the TSD's agent on behalf of the undersigned
which shall bind the undersigned absolutely, the undersigned hereby
expressly acknowledge the total absence of any actual or imputed
connection or relationship whatsoever between you and the aforesaid
agent in the implementation of all or any or the powers conferred
hereby.
In all such purchase and sales, you are authorized
to follow the instructions of the aforesaid agent in every respect
concerning the undersigned's account with you and except its herein
otherwise provided he is authorized to act for the undersigned in
the same manner and with the same force and effect as the undersigned
might or could do with respect to such purchases and sales as well
as with respect to all other things necessary or incidental thereto
except that he is not authorized to withdraw any money, securities,
or other property either in the name of the undersigned or otherwise.
The undersigned shall at all times maintain with
you in such form as you may require, such margins or deposits of
value satisfactory to you in excess of the amount of indebtedness
of obligations to you of the undersigned and which amount may be
greater than the originally required amount.
The undersigned hereby ratifies and confirm all
and any transactions with you heretofore or hereafter made by the
aforesaid agent on behalf of or for the account of the undersigned.
The undersigned further confirms that the aforesaid
agent may appoint and remove at pleasure any substitute under him
with the same or more limited powers for all or any of the purpose
matters conferred hereby and contained herein.
The authorization and indemnity is in addition
to and in no way limits or restricts any rights which you may have
under any other agreement or agreements between you and the undersigned,
and in particular under the Customer's Agreement entered into with
you by the undersigned.
This authorization and indemnity is a continuing
one and shall remain in full force and effect until and unless revoked
upon the happening of any of the following events:-
(1) The receipt by you at your principal place of business, by registered
post of a notice revoking this Authorization such notice to give
the name and address of the person whom thereafter you are to accept
instructions upon the same terms.
(2) The sending to me in the same manner of a notice from the aforesaid
Agent resigning his appointment hereunder.
(3) The receipt by you in the same manner from the said Agent of
a notification in writing informing you of the death of the undersigned.
Such revocation shall not affect any liability
in any way resulting from transaction initiated prior to such revocation
and in the event of any dispute as to whether or not any such revocation
has properly been communicated to you and your statement as to the
date of the receipt (if any) of such revocation shall be finial.
This authorization and indemnity shall be applicable to your beneficiaries
and that of your successors and assigns.
BETWEEN TOP STAR DEVELOPMENT CO., LTD.
A duly incorporated company having its registered office at MHL73961 RM B 1/F, LA BLDG 66 CORPORATION ROAD, GRANGETOWN, CARDIFF, CF11 7AW, ENGLAND (hereinafter together with its officers, employees and correspondents
called TSD) of the one part.
AND me/us (hereinafter together with its permitted
successors and/or assigns called the "Customer") of the other part.
WHEREAS:
(b) TSD, is in the business of arranging and concluding
spot Currencies (as defined herein).
(c) Spot currencies are traded by TSD, at interbank
spot rates and are subjected to the statutory enactment and rules
in force in the relevant overseas jurisdictions.
(d) The customer wishes to trade in spot Currencies.
(e) In order that TSD may facilitate entrance by
the customer into the trading of spot currencies the parties have
agreed to enter into this Agreement on the terms and conditions
contained herein.
I/We hereby acknowledge that I/We had agreed and fully understood
all the terms and conditions stated in the web page (www.topstar-development.com)
provided by TSD. I/We shall not hold any other
parties concerned responsible from any disputes which may arise.
RISK DISCLOSURE STATEMENT
The customer acknowledges that the contents of
the statement below have been read and understand by the customer:
(1) Upon the advice of TSD and
in view of the fact that the risk of loss in trading spot currencies
contracts can be substantial the customer has carefully considered
such trading and has determined that trading in spot currencies
contracts is in the interests of the customer.
(2) The customer has also been advised by TSD that
in considering whether to trade, the customer should be aware of
the following:
(a) The customer may sustain a total loss of the deposit and margin
calls that the customer has paid to TSD for the
credit of the customer account. If the market moves against the
customer's position, the customer may be called upon by TSD
to make further margin calls on short notice in order to maintain
the customer's position and if the customer does not provide the
required margin calls within the prescribed time, TSD
is entitled to liquidate the customer account and the customer will
be liable for any deficit as result thereof
(b) The customer may place stop-loss orders with TSD
to liquidate the customer's position when the market reaches the
price which the customer has specified
(c) Placing contingent orders, such as stop-loss orders or stop-limit
orders will not necessarily limit the customer's losses to the intended
amount, since market condition may make it impossible to execute
such orders
(d) A spread position may not be less risky than a simple long position
or short position
(e) The high degree of leverage that is often obtainable in spot
currencies trading because of small margin requirements can work
against as well as for the customer. The use of leverage can lead
to large losses as well as gains.
ELECTRONIC TRADING SYSTEM'S AGREEMENT
Top Star Development Co., Ltd.'s Electronic
Trading System Agreement with the customer:
Risk Disclosure Statements of Electronic Trading System
1. If the Customer undertakes transactions
on an electronic trading system, the Customer 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 Customer's order is either not executed according
to The Customer's instructions or is not executed at all. The
Customer'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 participant firms.
2. The Customer acknowledges that the Internet is, due to
unpredictable traffic congestion and other reasons, an inherently
unreliable medium of communication and that such unreliability
is beyond TSD's control. The Customer acknowledges
that, as a result of such unreliability, there may be delays
in the transmission and receipt of Instructions and other
information and that this may result in delay in the execution
of Instruction and/or the execution.
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Information Services
TSD may from time to time provide
Customer(s) with information as part of the TSD's
ET Service including without limitation, research reports, commodities,
exchange and trading analysis, markets quotes, news and data. Any
information provided is the property of TSD, a
Group Company or third party information vendors, and is protected
by copyright. The Customer shall not distribute or commercially
exploit the information in any manner. Any information provided
is not intended to and does not constitute an offer to sell or the
solicitation of an offer to buy or subscribe for any investment
and TSD does not assume any responsibility for
the suitability of any investment or any investment strategy for
the Customer. The investments referred to in any information provided
may not be eligible for sale in some jurisdictions. Any information
provided is compiled by TSD from or supplied by
sources that TSD believes to be reliable but no
representation, warranty or guarantee is made or given by TSD
or any other person as to the accuracy, reliability, reliability
or completeness of any information provided. Any information provided
on the TSD's ET Service (or otherwise) is (unless
otherwise indicated) only made as of the data indicated, and is
subjected to change or cessation without notice.
TSD's ET Service
a. The Customer expressly consents to TSD
using the Internet as a media to communicate with or transmit data
or documentation to The Customer.
b. The Customer acknowledges that the Customer
is the sole authorized user of the Service in respect of the Account
and shall take all reasonable steps to ensure only the Customer
inputs instructions through TSD's Mail or otherwise.
The Customer undertakes to keep the Logon Name and Password confidential
and not to disclose them to any person save as expressly provided
in the Agreement or the Trading Procedures. According all Instructions
shall be treated as given by the Customer. Neither TSD
nor it Representatives; shall not have any liability to the Customer
in respect of any unauthorized instruction not resulting from the
willful default or negligence of TSD.
c. The Customer acknowledges that the TSD's
E-Services, TSD's Mail or TSD's
website and the software comprised in them are proprietary to TSD.
The Customer undertakes that shall not attempt to tamper with modify,
decompile, reverse engineer or otherwise alter or gain unauthorized
access to any part of the Service, TSD's Mail or
TSD's website or any of the software comprised
in them.
d. The Customer undertakes to notify TSD
immediately if:
(i) an Instruction has been placed through the TSD's
ET Service and the Customer does not receive an Instruction reference
number;
(ii) an Instruction has been placed through the TSD's
ET Service and the Customer does not receive an accurate acknowledgment
of the Instruction or of its execution (whether by hard copy, electronic
or verbal means);
(iii) the Customer receives acknowledgement (whether by hard copy,
electronic or verbal means) of a Transaction which is inconsistent
with an Instruction or in respect of which Customer has not made
an Instruction; or
(iv) the Customer becomes aware of any unauthorized use of the Customer's
Logon Name and Password
The Customer agrees that, if the Customer fails
to notify TSD as soon as practicable when any of
the above situations occurs, neither TSD nor its
directors, officers, employees or Agents will not have any liability
to the Customer, or to any other person whose claim may arise through
TSD, for any claims with respect to the handling,
mishandling or loss of any Instruction.
e. The Customer agrees to comply withTSD's
Trading Procedures as a condition of its access to and use of the
TSD's ET Service. In the event of any conflict
between these items and conditions and the Trading Procedures, the
former shall prevail.
TERMS AND CONDITIONS OF RISK MANAGEMENT
OF MARGIN TRADING
DEFINITION
New Balance = the latest amount of the account that has not
calculate the floating profit or loss
Margin Required = the amount of the account that subject
to the opening or locking positions
Equity = the Balance of the account that has including all
the floating profit and loss
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MAINTENANCE DEPOSIT
All trading account should maintain the equity not less than 50%
of the Margin requirement of the opening or locking positions.
E > 50% N
MARGIN CALL
Refer to the rules of deposit maintenance, if any trading account
appears E is less than 50%N, there would be a MARGIN CALL occurred.
Client should deposit additional deposit to the account in order
to maintain the equity of the account not less than the amount of
Margin Requirement.
Top up deposit to: E > N
RULES
When a Trading account is Margin Called, the client should deposit
the enough amount of Margin to the appointed bank account of our
company before 14:00 (GMT+8) of the next trading day. If the client
fails to deposit the called amount before the deadline, the company
has the right to lock or to liquidate all the/ part of the opening
positions of that account in the afternoon session of the market.
All lost may occurred by that actions should be sustained by the
client.
AUTO LOCK
During the market trading time, any account that has opening position
in the account, and the equity is lower than or equal to 30%
of the necessary deposit of the account, there would be an AUTO
LOCK action taken (an equal volume of opposite side of open position
would be made automatically) by the Computer Auto Risk Control
System, to protect and control the risk of all trading accounts.
When E > 30% N = Auto Lock
I / We acknowledge that I / We have read the above Terms and conditions
from Page 1 to Page 11.
I / We fully understand the contents and agree to them.
I
Agree
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