Common use of Margin Closeout Clause in Contracts

Margin Closeout. Causing Large Buy Transaction You have a short position of 125,000,000 EUR/USD, and an upward move in the EUR/USD price causes a Margin Closeout of the position. At the time of the Margin Closeout, the EUR/USD price on fxTrade is 1.09346/1.09355. Your position is bought at the ask rate, which is 1.09355. After the Trade is executed, OANDA xxxxxx the Margin Closeout Trades by executing the following trades with liquidity providers: Buy 60,000,000 EUR/USD at 1.09340 Buy 40,000,000 EUR/USD at 1.09345 Buy 25,000,000 EUR/USD at 1.09347 Note that the trade size is specified as a positive value when it is a buy trade. The volume-weighted cost of the hedge trades is: ( ( 60,000,000 × 1.09340 ) + ( 40,000,000 × 1.09345 ) + ( 25,000,000 × 1.09347 ) ÷ ( 60,000,000 + 40,000,000 + 25,000,000 ) ) = 1.09343 The price difference is calculated as the difference between 1.0-pip in excess of the volume-weighted cost and the executed price. The price difference is denoted in the second currency of the currency pair, which is USD for EUR/USD. Price Difference = (volume-weighted cost + 0.0001 ) - executed price = ( 1.09343 + 0.0001 ) - 1.09355 = -0.00002 USD Note that the 1.0-pip is added to the volume-weighted cost because the Margin Closeout is a buy Trade, and 1.0-pip on EUR/USD equals 0.0001 USD. The special handling rebate is calculated by multiplying the price difference by the Trade size. special handling rebate = price difference × Trade size = -0.00002 USD × 125,000,000 = -2,500 USD

Margin Closeout. Causing Large Buy Transaction You have a short position of 125,000,000 EUR/USD, and an upward move in the EUR/USD price causes a Margin Closeout of the position. At the time of the Margin Closeout, the EUR/USD price on fxTrade is 1.09346/1.09355. Your position is bought at the ask rate, which is 1.09355. After the Trade is executed, OANDA xxxxxx the Margin Closeout Trades by executing the following trades with liquidity providers: Buy 60,000,000 EUR/USD at 1.09340 Buy 40,000,000 EUR/USD at 1.09345 Buy 25,000,000 EUR/USD at 1.09347 Note that the trade size is specified as a positive value when it is a buy trade. The volume-weighted cost of the hedge trades is: ( ( 60,000,000 × 1.09340 ) + ( 40,000,000 × 1.09345 ) + ( 25,000,000 × 1.09347 ) ÷ ( 60,000,000 + 40,000,000 + 25,000,000 ) ) = 1.09343 The price difference is calculated as the difference between 1.0-pip in excess of the volume-weighted cost and the executed price. The price difference is denoted in the second currency of the currency pair, which is USD for EUR/USD. Price Difference = (volume-weighted cost + 0.0001 ) - executed price = ( 1.09343 + 0.0001 ) - 1.09355 = -0.00002 USD Note that the 1.0-pip is added to the volume-weighted cost because the Margin Closeout is a buy Trade, and 1.0-1.0- pip on EUR/USD equals 0.0001 USD. The special handling rebate is calculated by multiplying the price difference by the Trade size. special handling rebate = price difference × Trade size = -0.00002 USD × 125,000,000 = -2,500 USDUSD A special handling rebate of 2,500 USD is credited to your Account. OANDA (CANADA) CORPORATION ULC Convention client fxTRADE (Compte pour exécution d’ordres seulement) Afin de pouvoir ouvrir et d’utiliser un compte fxTrade chez OANDA (Canada) Corporation ULC (“OANDA”), vous (le « Client ») devez accepter les conditions de la présente Convention client (la « Convention »). Veuillez bien en lire la totalité. Si vous acceptez d’être lié à toutes ses dispositions, veuillez accepter les conditions par voie électronique via la page d'inscription, et compléter le reste du processus d’inscription. En vue de permettre à OANDA d’ouvrir un ou plusieurs Comptes en votre nom et de fournir les services qui y seront associés, vous acceptez les conditions suivantes :

Margin Closeout. Causing Large Buy Transaction You have a short position of 125,000,000 EUR/USD, and an upward move in the EUR/USD price causes a Margin Closeout of the position. At the time of the Margin Closeout, the EUR/USD price on fxTrade is 1.09346/1.09355. Your position is bought at the ask rate, which is 1.09355. After the Trade is executed, OANDA xxxxxx the Margin Closeout Trades by executing the following trades with liquidity providers: Buy 60,000,000 EUR/USD at 1.09340 Buy 40,000,000 EUR/USD at 1.09345 Buy 25,000,000 EUR/USD at 1.09347 Note that the trade size is specified as a positive value when it is a buy trade. The volume-weighted cost of the hedge trades is: ( ( 60,000,000 × 1.09340 ) + ( 40,000,000 × 1.09345 ) + ( 25,000,000 × 1.09347 ) ÷ ( 60,000,000 + 40,000,000 + 25,000,000 ) ) = 1.09343 The price difference is calculated as the difference between 1.0-pip in excess of the volume-weighted cost and the executed price. The price difference is denoted in the second currency of the currency pair, which is USD for EUR/USD. Price Difference = (volume-weighted cost + 0.0001 ) - executed price = ( 1.09343 + 0.0001 ) - 1.09355 = -0.00002 USD Note that the 1.0-pip is added to the volume-weighted cost because the Margin Closeout is a buy Trade, and 1.0-1.0- pip on EUR/USD equals 0.0001 USD. The special handling rebate is calculated by multiplying the price difference by the Trade size. special handling rebate = price difference × Trade size = -0.00002 USD × 125,000,000 = -2,500 USDUSD A special handling rebate of 2,500 USD is credited to your Account. OANDA (CANADA) CORPORATION ULC Convention client fxTRADE (Compte pour exécution d’ordres seulement) Afin de pouvoir ouvrir et d’utiliser un compte fxTrade chez OANDA (Canada) Corporation ULC (“OANDA”), vous (le « Client ») devez accepter les conditions de la présente Convention client (la « Convention »). Veuillez bien en lire la totalité. Si vous acceptez d’être lié à toutes ses dispositions, veuillez l’imprimer, la signer, la dater et acheminer la page de signature à OANDA tel qu’indiqué sur la dernière page de la Convention, et compléter le reste du processus d’inscription. En vue de permettre à OANDA d’ouvrir un ou plusieurs Comptes en votre nom et de fournir les services qui y seront associés, vous acceptez les conditions suivantes :

Margin Closeout. Causing Large Buy Transaction You have a short position of 125,000,000 EUR/USD, and an upward move in the EUR/USD price causes a Margin Closeout of the position. At the time of the Margin Closeout, the EUR/USD price on fxTrade is the OANDA Trading Systemis 1.09346/1.09355. Your position is bought at the ask rate, which is 1.09355. After the Trade is executed, OANDA xxxxxx the Margin Closeout Trades by executing the following trades with liquidity providers: Buy 60,000,000 EUR/USD at 1.09340 Buy 40,000,000 EUR/USD at 1.09345 Buy 25,000,000 EUR/USD at 1.09347 Note that the trade size is specified as a positive value when it is a buy trade. The volume-weighted cost of the hedge trades is: ( ( 60,000,000 × 1.09340 ) + ( 40,000,000 × 1.09345 ) + ( 25,000,000 × 1.09347 ) ÷ ( 60,000,000 + 40,000,000 + 25,000,000 ) ) = 1.09343 Version: June 2022 The price difference is calculated as the difference between 1.0-pip in excess of the volume-weighted cost and the executed price. The price difference is denoted in the second currency of the currency pair, which is USD for EUR/USD. Price Difference = (volume-weighted cost + 0.0001 ) - executed price = ( 1.09343 + 0.0001 ) - 1.09355 = -0.00002 USD Note that the 1.0-pip is added to the volume-weighted cost because the Margin Closeout is a buy Trade, and 1.0-pip on EUR/USD equals 0.0001 USD. The special handling rebate is calculated by multiplying the price difference by the Trade size. special handling rebate = price difference × Trade size = -0.00002 USD × 125,000,000 = -2,500 USD

Margin Closeout. Causing Large Buy Transaction You have a short position of 125,000,000 EUR/USD, and an upward move in the EUR/USD price causes a Margin Closeout of the position. At the time of the Margin Closeout, the EUR/USD price on fxTrade is 1.09346/1.09355. Your position is bought at the ask rate, which is 1.09355. After the Trade is executed, OANDA xxxxxx the Margin Closeout Trades by executing the following trades with liquidity providers: Buy 60,000,000 EUR/USD at 1.09340 Buy 40,000,000 EUR/USD at 1.09345 Buy 25,000,000 EUR/USD at 1.09347 Note that the trade size is specified as a positive value when it is a buy trade. The volume-weighted cost of the hedge trades is: ( ( 60,000,000 × 1.09340 ) + ( 40,000,000 × 1.09345 ) + ( 25,000,000 × 1.09347 ) ÷ ( 60,000,000 + 40,000,000 + 25,000,000 ) ) = 1.09343 The price difference is calculated as the difference between 1.0-pip in excess of the volume-weighted cost and the executed price. The price difference is denoted in the second currency of the currency pair, which is USD for EUR/USD. Price Difference = (volume-weighted cost + 0.0001 ) - executed price = ( 1.09343 + 0.0001 ) - 1.09355 = -0.00002 USD Note that the 1.0-pip is added to the volume-weighted cost because the Margin Closeout is a buy Trade, and 1.0-pip on EUR/USD equals 0.0001 USD. The special handling rebate is calculated by multiplying the price difference by the Trade size. special handling rebate = price difference × Trade size = -0.00002 USD × 125,000,000 = -2,500 USDUSD A special handling rebate of 2,500 USD is credited to your Account.