Common use of INTRODUCING BROKERS Clause in Contracts

INTRODUCING BROKERS. If Customer's account has been introduced to Direct Trading Technologies Ltd by an Introducing Broker ("IB"), Customer understands and acknowledges that Direct Trading Technologies Ltd may compensate Introducing Broker for introducing Customer and that such compensation may be on a per trade or other basis. The following is an allocation of responsibilities for each entity. It is intended to be a general disclosure and not a definitive enumeration of each and every responsibility. The Introducing Broker shall have the following responsibilities with respect to Customer's account: • Contacting, soliciting and/or communicating with Customer regarding investment opportunities and objectives. • Complying with all laws, rules and regulations applicable to any arrangement or understanding that IB and Customer may have. Including and not limited to all legal documents posted at xxx.xxxxxxxxxx.xxx including this agreement. • Determining any commissions and fees, whether on a per trade basis or other basis, to be charged for Customer's transactions, in addition to Direct Trading Technologies Ltd's standard commissions and fees. As the clearing firm for Customer's account, Direct Trading Technologies Ltd shall have responsibility for performing the following services: • Opening, approving, servicing and monitoring Customer's account(s), including obtaining and verifying new account information as required by law and regulation. • Maintaining account records on Customer's behalf. • Accepting and executing transactions in Customer's account(s). • Determining margin, paying and charging interest, rolling over of open positions, liquidating under-margin positions, and supervising rehypothecation of any funds in Customer's Account(s). • Debiting from Customer's account any commissions or fees owed to IB or other third party. • Preparing and transmitting to Customer monthly or, if appropriate, quarterly account statements, by mail or electronically. • Responding to inquiries or complaints regarding Customer's account. Customer shall request an officially stamped/legalized receipt for his payment upon making a deposit to his local Introducing Broker. Direct Trading Technologies Ltd shall bear no responsibility in regards to such deposits until they are received from the Introducing Broker and cleared in Direct Trading Technologies Ltd Inc. bank account. If a Customer requests a withdrawal of his funds held with Direct Trading Technologies Ltd though a local agent or Introducing Broker, Customer hereby agrees to guarantee and hold Direct Trading Technologies Ltd harmless against any liability, claim, loss, damage, cost or expense, including attorneys' fees that Direct Trading Technologies Ltd may sustain; as a result of withdrawing funds through a third party. Introducing brokers agree that trading on, managing or accessing the Customer's Account on his behalf is not allowed without a proper power of attorney being filed with the Account opening documents. Failure to do so will result in deducting all fees generated as a compensation for the IB from his earned commissions over the given period in which the act took place. Introducing brokers cannot and shall not act as fund managers or asset manager for any accounts introduced by them under any circumstances, except when a proper Limited Power of Attorney is filed and approved by Direct Trading Technologies Ltd Managed accounts and/or multiple accounts from the same IP address and/or under the same Agent account are not allowed and will be banned with no refunds.

Appears in 4 contracts

Samples: Terms of Service Agreement, Terms of Service Agreement, Terms of Service Agreement

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INTRODUCING BROKERS. If Customer's account ’s Account has been introduced to Direct Trading Technologies Ltd AMarkets by an Introducing Broker ("IB")Broker, Customer understands un­ derstands and acknowledges that Direct Trading Technologies Ltd AMarkets may compensate Introducing Broker for introducing Customer to AMarkets and that such compensation may be on a per trade or other basis. The following fol­ lowing is an allocation of responsibilities for each entity. It is intended to be a general disclosure and not a definitive enumeration of each and every responsibility. The Introducing Broker shall have the following responsibilities with respect to Customer's account’s Account: • Contacting, soliciting and/or communicating with Customer regarding investment opportunities and objectives. ; • Complying with all laws, rules and regulations applicable to any arrangement or understanding understan­ ding that IB Introducing Broker and Customer may have. Including ; and not limited to all legal documents posted at xxx.xxxxxxxxxx.xxx including this agreement. • Determining any commissions and fees, whether on a per trade basis or other basis, to be charged for Customer's ’s transactions, in addition to Direct Trading Technologies Ltd's AMarkets standard commissions and fees. As the clearing firm for Customer's ’s account, Direct Trading Technologies Ltd AMarkets shall have responsibility for performing the following services: • Opening, approving, approving and servicing and monitoring Customer's account(s’s Account(s), including obtaining and verifying new account information as required by law and regulation. ; • Maintaining account records on Customer's ’s behalf. ; • Accepting and executing transactions in Customer's account(s’s Account(s). ; and • Determining margin, paying and charging interest, rolling over of open positions, liquidating under-under margin positions, and supervising rehypothecation of any funds in Customer's ’s Account(s). ; • Debiting from Customer's ’s account any commissions or fees owed to IB Introducing Broker or other third party. ; • Preparing and transmitting to Customer monthly or, if appropriate, quarterly account statements, by mail or statements electronically. ; and • Responding to inquiries or complaints regarding Customer's account. Customer shall request an officially stamped/legalized receipt for his payment upon making a deposit to his local Introducing Broker. Direct Trading Technologies Ltd shall bear no responsibility in regards to such deposits until they are received from the Introducing Broker and cleared in Direct Trading Technologies Ltd Inc. bank account. If a Customer requests a withdrawal of his funds held with Direct Trading Technologies Ltd though a local agent or Introducing Broker, Customer hereby agrees to guarantee and hold Direct Trading Technologies Ltd harmless against any liability, claim, loss, damage, cost or expense, including attorneys' fees that Direct Trading Technologies Ltd may sustain; as a result of withdrawing funds through a third party. Introducing brokers agree that trading on, managing or accessing the Customer's Account on his behalf is not allowed without a proper power of attorney being filed with the Account opening documents. Failure to do so will result in deducting all fees generated as a compensation for the IB from his earned commissions over the given period in which the act took place. Introducing brokers cannot and shall not act as fund managers or asset manager for any accounts introduced by them under any circumstances, except when a proper Limited Power of Attorney is filed and approved by Direct Trading Technologies Ltd Managed accounts and/or multiple accounts from the same IP address and/or under the same Agent account are not allowed and will be banned with no refunds’s Account.

Appears in 2 contracts

Samples: Customer Agreement, Customer Agreement

INTRODUCING BROKERS. If Customer's account ’s Account has been introduced to Direct Trading Technologies Ltd FX24 by an Introducing Broker ("IB")Broker, Customer understands un­ derstands and acknowledges that Direct Trading Technologies Ltd FX24 may compensate Introducing Broker for introducing Customer to FX24 and that such compensation may be on a per trade or other basis. The following fol­ lowing is an allocation of responsibilities for each entity. It is intended to be a general disclosure and not a definitive enumeration of each and every responsibility. The Introducing Broker shall have the following responsibilities with respect to Customer's account’s Account: • Contacting, soliciting and/or communicating with Customer regarding investment opportunities and objectives. ; • Complying with all laws, rules and regulations applicable to any arrangement or understanding understan­ ding that IB Introducing Broker and Customer may have. Including ; and not limited to all legal documents posted at xxx.xxxxxxxxxx.xxx including this agreement. • Determining any commissions and fees, whether on a per trade basis or other basis, to be charged for Customer's ’s transactions, in addition to Direct Trading Technologies Ltd's FX24 standard commissions and fees. As the clearing firm for Customer's ’s account, Direct Trading Technologies Ltd FX24 shall have responsibility for performing the following services: • Opening, approving, approving and servicing and monitoring Customer's account(s’s Account(s), including obtaining and verifying new account information as required by law and regulation. ; • Maintaining account records on Customer's ’s behalf. ; • Accepting and executing transactions in Customer's account(s’s Account(s). ; and • Determining margin, paying and charging interest, rolling over of open positions, liquidating under-under margin positions, and supervising rehypothecation of any funds in Customer's ’s Account(s). ; • Debiting from Customer's ’s account any commissions or fees owed to IB Introducing Broker or other third party. ; • Preparing and transmitting to Customer monthly or, if appropriate, quarterly account statements, by mail or statements electronically. ; and • Responding to inquiries or complaints regarding Customer's account. Customer shall request an officially stamped/legalized receipt for his payment upon making a deposit to his local Introducing Broker. Direct Trading Technologies Ltd shall bear no responsibility in regards to such deposits until they are received from the Introducing Broker and cleared in Direct Trading Technologies Ltd Inc. bank account. If a Customer requests a withdrawal of his funds held with Direct Trading Technologies Ltd though a local agent or Introducing Broker, Customer hereby agrees to guarantee and hold Direct Trading Technologies Ltd harmless against any liability, claim, loss, damage, cost or expense, including attorneys' fees that Direct Trading Technologies Ltd may sustain; as a result of withdrawing funds through a third party. Introducing brokers agree that trading on, managing or accessing the Customer's Account on his behalf is not allowed without a proper power of attorney being filed with the Account opening documents. Failure to do so will result in deducting all fees generated as a compensation for the IB from his earned commissions over the given period in which the act took place. Introducing brokers cannot and shall not act as fund managers or asset manager for any accounts introduced by them under any circumstances, except when a proper Limited Power of Attorney is filed and approved by Direct Trading Technologies Ltd Managed accounts and/or multiple accounts from the same IP address and/or under the same Agent account are not allowed and will be banned with no refunds’s Account.

Appears in 1 contract

Samples: Customer Agreement

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INTRODUCING BROKERS. If Customer's account ’s Account has been introduced to Direct Trading Technologies Ltd DELITRADERS by an Introducing Broker ("IB")Broker, Customer understands un­derstands and acknowledges that Direct Trading Technologies Ltd DELITRADERS may compensate Introducing Broker for introducing Customer to DELITRADERS and that such compensation may be on a per trade or other basis. The following fol­lowing is an allocation of responsibilities for each entity. It is intended to be a general disclosure and not a definitive enumeration of each and every responsibility. The Introducing Broker shall have the following responsibilities with respect to Customer's account’s Account: • Contacting, soliciting and/or communicating with Customer regarding investment opportunities and objectives. ; • Complying with all laws, rules and regulations applicable to any arrangement or understanding understan­ ding that IB Introducing Broker and Customer may have. Including ; and not limited to all legal documents posted at xxx.xxxxxxxxxx.xxx including this agreement. • Determining any commissions and fees, whether on a per trade basis or other basis, to be charged for Customer's ’s transactions, in addition to Direct Trading Technologies Ltd's DELITRADERS standard commissions and fees. As the clearing firm for Customer's ’s account, Direct Trading Technologies Ltd DELITRADERS shall have responsibility for performing the following services: • Opening, approving, approving and servicing and monitoring Customer's account(s’s Account(s), including obtaining and verifying new account information as required by law and regulation. ; • Maintaining account records on Customer's ’s behalf. ; • Accepting and executing transactions in Customer's account(s’s Account(s). ; and • Determining margin, paying and charging interest, rolling over of open positions, liquidating under-under margin positions, and supervising rehypothecation of any funds in Customer's ’s Account(s). ; • Debiting from Customer's ’s account any commissions or fees owed to IB Introducing Broker or other third party. ; • Preparing and transmitting to Customer monthly or, if appropriate, quarterly account statements, by mail or statements electronically. ; and • Responding to inquiries or complaints regarding Customer's account. Customer shall request an officially stamped/legalized receipt for his payment upon making a deposit to his local Introducing Broker. Direct Trading Technologies Ltd shall bear no responsibility in regards to such deposits until they are received from the Introducing Broker and cleared in Direct Trading Technologies Ltd Inc. bank account. If a Customer requests a withdrawal of his funds held with Direct Trading Technologies Ltd though a local agent or Introducing Broker, Customer hereby agrees to guarantee and hold Direct Trading Technologies Ltd harmless against any liability, claim, loss, damage, cost or expense, including attorneys' fees that Direct Trading Technologies Ltd may sustain; as a result of withdrawing funds through a third party. Introducing brokers agree that trading on, managing or accessing the Customer's Account on his behalf is not allowed without a proper power of attorney being filed with the Account opening documents. Failure to do so will result in deducting all fees generated as a compensation for the IB from his earned commissions over the given period in which the act took place. Introducing brokers cannot and shall not act as fund managers or asset manager for any accounts introduced by them under any circumstances, except when a proper Limited Power of Attorney is filed and approved by Direct Trading Technologies Ltd Managed accounts and/or multiple accounts from the same IP address and/or under the same Agent account are not allowed and will be banned with no refunds’s Account.

Appears in 1 contract

Samples: Customer Agreement

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