Common use of Closing a Position Clause in Contracts

Closing a Position. a. at any time, you may give Soho Markets, by telephone or otherwise, notice of your intention to close any position (whether in whole or part) by specifying the underlying instrument and the proportion of the position that you wish to close; b. upon receipt of a closing notice. Soho Markets shall use reasonable endeavours to provide a quote for the closing price and notify you of that quote (by telephone or otherwise) — it is your obligation to notify Soho Markets as soon as possible (by telephone or otherwise) as to whether you are willing to accept the closing price — should you accept the closing price of the position, or relevant portion of the position, will be closed on the closing date; c. at the close of business on the closing date, should there be a difference between the closing value and the contract value of the open position (or portion of it), it must b= accounted for in the following way: (i) should the closing value be greater than the contract value, the short party must pay to the long party the difference; and (ii) should the closing value be less than the contract value, the long party must pay to the short party the difference; d. if a company, whose instrument represents all or part of the subject matter of a Forex or CFD position becomes externally administered within the meaning of the 11 ROC, the Forex or CFD position is taken to have been closed at the time that such administration commences — the closing price shall be determined by Soho Markets who may have regard to any factors it considers appropriate including, for example, the last traded price of the underlying instrument; e. without limiting Soho Markets's discretion, if any of the underlying instrument ceases to be quoted on a relevant exchange, or is suspended from quotation, or subject to a trading halt for 5 or more consecutive business days. Soho Markets may, in its absolute discretion, elect to terminate the relevant Forex or CFD contract by providing written notice to you; f. if at any time a take-over offer is made in respect of an underlying instrument, then at any time offer. prior to the closing date of such or Soho Markets may close the Forex , offer, CFD position — references to this 'take- over' and 'closing date' in same meanings Client Agreement have the given to them in the IIROC; g. it may not be possible to close out a tradingposition if there is a suspension of or a trading halt in respect of the underlying security — in such a circumstance. Soho Markets may decide, in its absolute discretion, not to close a position; h. Soho Markets may close a position if the aggregate amount of margin represented by payments for difference payable by you in relation to a position exceeds 50% of the initial margin in respect of that position; i. at the close of business day that a position is closed out. Soho Markets will calculate your remaining payment rights and obligations and will be based on the difference between the closing value and the contract value at the time it was entered into and considering any margin which has already been debited from or credited to yotr account in respect of that position; j. where Soho Markets determines that the closing value of a position cannot be calculated on the closing date for any reason, the closing value will be the value determined by Soho Markets in its sole discretion; k. without limiting the above, if at any time trading on a relevant exchange is suspended or halted in any underlying security, Soho Markets will, in determining the closing value of a position, at its discretion have regard to the last traded price before the time of suspension or halt; and l. all determinations and calculations made by Soho Markets pursuant to this Client Agreement will be binding on you in the absence of manifest error.

Closing a Position. a. at any time, you may give Soho Focus Markets, by telephone or otherwise, notice of your intention to close any position (whether in whole or part) by specifying the underlying instrument and the proportion of the position that you wish to close; b. upon receipt of a closing notice. Soho , Focus Markets shall use reasonable endeavours to provide a quote for the closing price and notify you of that quote (by telephone or otherwise) — – it is your obligation to notify Soho Focus Markets as soon as possible (by telephone or otherwise) as to whether you are willing to accept the closing price — – should you accept the closing price of the position, or relevant portion of the position, will be closed on the closing date; c. at the close of business on the closing date, should there be a difference between the closing value and the contract value of the open position (or portion of it), it must b= be accounted for in the following way: (i) should the closing value be greater than the contract value, the short party must pay to the long party the difference; and (ii) should the closing value be less than the contract value, the long party must pay to the short party the difference; d. if a company, whose instrument represents all or part of the subject matter of a Forex or CFD position becomes externally administered within the meaning of the 11 ROCCorporations ▇▇▇ ▇▇▇▇, the Forex or CFD position is taken to have been closed at the time that such administration commences — – the closing price shall be determined by Soho Focus Markets who may have regard to any factors it considers appropriate including, for example, the last traded price of the underlying instrument; e. without limiting Soho Focus Markets's ’ discretion, if any of the underlying instrument ceases to be quoted on a relevant exchange, or is suspended from quotation, or subject to a trading halt for 5 or more consecutive business days. Soho , Focus Markets may, in its absolute discretion, elect to terminate the relevant Forex or CFD contract by providing written notice to you; f. if at any time a take-over offer is made in respect of an underlying instrument, then at any time offer. prior to the closing date of such or Soho offer, Focus Markets may close the Forex , offer, or CFD position — – references to this 'take- ‘offer’, ‘take-over' ’ and '‘closing date' ’ in same meanings this Client Agreement have the same meanings given to them in the IIROCCorporations ▇▇▇ ▇▇▇▇; g. it may not be possible to close out a tradingposition position if there is a suspension of trading or a trading halt in respect of the underlying security — – in such a circumstance. Soho , Focus Markets may decide, in its absolute discretion, not to close a position; h. Soho Focus Markets may close a position if the aggregate amount of margin represented by payments for difference payable by you in relation to a position exceeds 50% of the initial margin in respect of that position; i. at the close of business day that a position is closed out. Soho , Focus Markets will calculate your remaining payment rights and obligations and will be based on the difference between the closing value and the contract value at the time it was entered into and considering any margin which has already been debited from or credited to yotr your account in respect of that position; j. where Soho Focus Markets determines that the closing value of a position cannot be calculated on the closing date for any reason, the closing value will be the value determined by Soho Focus Markets in its sole discretion; k. without limiting the above, if at any time trading on a relevant exchange is suspended or halted in any underlying security, Soho Focus Markets will, in determining the closing value of a position, at its discretion have regard to the last traded price before the time of suspension or halt; and l. all determinations and calculations made by Soho Focus Markets pursuant to this Client Agreement will be binding on you in the absence of manifest error.