DISCLOSURE OF CREDIT TERMS. Rule 10b-16 of the Securities Exchange Act of 1934 requires a broker who extends credit to a customer in connection with any securities transaction to furnish the customer specified information describing the terms, conditions, and methods whereby interest charges are made to customers’ accounts. This disclosure statement is provided to you by Clearing Firm in conformity with that rule. Cash Accounts: Cash Accounts may be subject, at Clearing Firm’s discretion, to interest on any debit balances resulting from failure to make payment in full for securities purchased, from failure to timely deliver securities sold, from proceeds of sales paid prior to settlement date, or for other charges which may be made to your Account. You understand and agree that the interest charged shall be determined by the rate applied on margin accounts.
DISCLOSURE OF CREDIT TERMS. INTEREST CHARGE An interest charge will be imposed for any statement period during which Your average daily debit balance is greater than zero. The normal statement period will end on the last business day of each month. The statement period may be for a fraction of a normal statement period on opening or closing Your account. Interest will ordinarily be calculated through the second to the last business day of each month and will ordinarily be charged to the account on the next to the last business day of each month.
DISCLOSURE OF CREDIT TERMS. Rule 10b-16 of the Securities Exchange Act of 1934 requires a broker who extends credit to a customer in connection with any securities transaction to furnish the customer with information describing the terms, conditions, and methods whereby interest charges are made to customers' accounts. This disclosure statement is provided to you by Clearing Firm in conformity with that rule.
