Exercise of Options and Futures Contracts. 1. The Customer acknowledges that exchanges, clearing houses and Intermediaries have established cut-off times ("Prescribed Cut-off Times") for the submission of exercise instructions in relation to options and SFP may set its own exercise cut-off times ("SFP Cut-off Times") which may be earlier than the Prescribed Cut-off Times. 2. It is the Customer's sole responsibility to make itself aware of all relevant Prescribed Cut -off Times in respect of an option. The Customer acknowledges that Prescribed Cut-off Times may be imposed (and from time to time amended) by exchanges, clearing houses or Intermediaries without prior notice or without notice and which may be beyond the control of SFP, and the Customer agrees to abide by and be subject to all such Prescribed Cut-off Times. 3. SFP shall give the Customer reasonable prior notice of any SFP Cut-off Time which differs from a Prescribed Cut-off Times. 4. Any instruction from the Customer to exercise an option must be received by SFP before the Prescribed Cut-off Time or SFP Cut-off Time, whichever is earlier. 5. The Customer acknowledges that in the event that it does not instruct SFP to exercise an option as provided in clause A.2.4, such option may expire worthless. 6. Where the Customer has:
Appears in 2 contracts
Sources: Customer Agreement, Customer Agreement