Common use of Execution Only Transactions Clause in Contracts

Execution Only Transactions. You may direct ▇▇▇▇▇▇ to undertake an execution only transaction on your behalf even if you hold a Discretionary account. An execution only transaction is a transaction executed by ▇▇▇▇▇▇ upon your specific instructions where ▇▇▇▇▇▇ does not give advice on the merits of that transaction. It may also be a transaction, where you either (a) elect explicitly to act as an execution-only client or (b) place an order for a transaction, or a series of transactions, that is contrary to the specific advice of ▇▇▇▇▇▇ or (c) when asked for advice on the merits of a particular transaction, or series of transactions, ▇▇▇▇▇▇ explicitly states that they are not in a position to give such advice. Where you initiate or propose an execution only transaction to deal in a non-complex instrument ▇▇▇▇▇▇ will not assess the suitability or appropriateness of the instrument for you and therefore you will not benefit from the protection of conduct of business rules as regards suitability or appropriateness. ▇▇▇▇▇▇ will not advise you on the merits of the transaction and you will be solely responsible for all investment decisions. ▇▇▇▇▇▇ will advise you if it is of the view that an instruction is not within the category of non-complex instruments. In such circumstances our obligation is limited to assessing your knowledge and experience to understand the risks involved with the product or service based on information that you have provided to us to ascertain if the transaction is appropriate for you. You will not benefit from the protection of conduct of business rules as regards suitability. ▇▇▇▇▇▇ will not advise you on the merits of the transaction and you will be solely responsible for all investment decisions. In the event that we determine that the instruction is not within the category of non-complex instruments and that it is not appropriate for you, we are obliged to warn you of the risks involved before proceeding with the trade and if we consider that the transaction is not in your best interest then we may be obliged not to proceed with the trade. It is your responsibility to ensure that the instruction is lawful and does not amount to insider dealing, market manipulation or is a breach of any securities law or other law or regulation. 1. PART C Self-dealing

Execution Only Transactions. You may direct ▇▇▇▇▇▇ to undertake an execution only transaction on your behalf even if you hold a Discretionary an Advisory account. An execution only transaction is a transaction executed by ▇▇▇▇▇▇ upon your specific instructions where ▇▇▇▇▇▇ does not give advice on the merits of that transaction. It may also be a transaction, where you either (a) elect explicitly to act as an execution-only client or (b) place an order for a transaction, or a series of transactions, that is contrary to the specific advice of ▇▇▇▇▇▇ or (c) when asked for advice on the merits of a particular transaction, or series of transactions, ▇▇▇▇▇▇ explicitly states that they are not in a position to give such advice. Where you initiate or propose an execution only transaction to deal in a non-complex instrument ▇▇▇▇▇▇ will not assess the suitability or appropriateness of the instrument for you and therefore you will not benefit from the protection of conduct of business rules as regards suitability or appropriateness. ▇▇▇▇▇▇ will not advise you on the merits of the transaction and you will be solely responsible for all investment decisions. ▇▇▇▇▇▇ will advise you if it is of the view that an instruction is not within the category of non-complex instruments. In such circumstances our obligation is limited to assessing your knowledge and experience to understand the risks involved with the product or service based on information that you have provided to us to ascertain if the transaction is appropriate for you. You will not benefit from the protection of conduct of business rules as regards suitabilitysuitability or appropriateness. ▇▇▇▇▇▇ will not advise you on the merits of the transaction and you will be solely responsible for all investment decisions. In the event that we determine that the instruction is not within the category of non-complex instruments and that it is not appropriate for you, we are obliged to warn you of the risks involved before proceeding with the trade and if we consider that the transaction is not in your best interest then we may be obliged not to proceed with the trade. It is your responsibility to ensure that the instruction is lawful and does not amount to insider dealing, market manipulation or is a breach of any securities law or other law or regulation. 1. PART C Self-dealing