Common use of ORDERS – INSTRUCTIONS Clause in Contracts

ORDERS – INSTRUCTIONS. 8.1 The Company will, in certain circumstances, accept instructions, by telephone or in person, provided that the Company is satisfied, at its full discretion, of the caller’s/Client’s identity and clarity of instructions. In case of an order received by the Company by means other than through the electronic Trading Platform, the order will be transmitted by the Company to the electronic Trading Platform and processed as if it was received through the electronic Trading Platform. 8.2 The Company reserves the right, at its discretion, to confirm in any manner the instructions and/or Orders and/or communications sent through the Communication System. The Client accepts the risk of misinterpretation and/or mistakes in the instructions and/or Orders sent through the Communication System, regardless of how they have been caused, including technical and/or mechanical damage. 8.3 The Client has the right to authorize a third person to give instructions and/or orders to the Company or to handle any other matters related to this agreement, provided that the Client has notified the Company in writing, of exercising such a right and that this person is approved by the Company fulfilling all of Company’s specifications/requirements for such service. Unless the Company receives a written notification for the termination of the said person’s authorization, the Company will continue accepting instructions and/or orders given by this person on behalf of the Client and the Client will recognize such orders as valid and committing. The above written notification for the termination of the authorization to a third party has to be received by the Company with at least 2 days’ notice. Once the Client’s instructions or Orders are given to the Company and are sent for execution, they cannot be revoked. Only in exceptional circumstances the Company may allow the Client to revoke or amend the relevant instruction or Order. The Company has the right to proceed to a partial execution of the Client's Orders. 8.4 The transaction (opening or closing a position) is executed at the "BID" / "ASK" prices offered to the Client. The Client chooses desirable operation and makes a request to receive a transaction confirmation by the Company. The transaction is executed at the prices the Client can see on the screen. Due to the high volatility of the markets during the confirmation process the price may change and the Company has the right to offer the Client a new price. In the event the Company offers the Client a new price the Client can either accept the new price and execute the transaction or refuse the new price and cancel the execution of the transaction. 8.5 Orders can be placed, executed, changed or removed only within the operating (trading) time and may remain effective in the trading system according to order specific settings (GTC or other). The Client’s Order shall be valid in accordance with the type and time of the given Order, as specified. If the time of validity of the order is not specified, it shall be valid for an indefinite period. The Status of the orders is always shown in the Client's online Trading Platform. In the event that access to the online Trading Platform is not possible, the Clients may contact the Company by telephone (as described in section 5 above) and request information regarding the status of any of their pending orders. 8.6 The Company shall not be held responsible in the case of delays or other errors caused during the transmission of orders and/or messages via computer, as well as for damage which may be caused by the non- validity of securities or a mistake in the bank account balance of the Client. The Company shall not be held responsible for information received via computer or for any loss which the Client may incur in case this information is inaccurate. 8.7 The Company reserves the right to change the opening/closing price (rate) and/or size and/or number of the related transaction (and/or the level and size of any Stop Limit, Stop Market or Stop Range order) in case of any Financial Instrument becomes subject to possible adjustment as the result of any event set out in Paragraph 8.8 below (hereinafter called a ― Corporate Event). This operation is applied exclusively to securities and has a meaning to preserve the economic equivalence of the rights and obligations of the parties under that transaction immediately prior to that Corporate Event. All actions of the Company regarding such adjustments are conclusive and binding upon the Client. The Company shall inform the Client of any adjustment as soon as reasonably practicable. 8.8 The Client will not be entitled to interest and/or dividends and/or any voting rights and/or any other rights in connection to the securities and/or funds in the Company's or Client's Account. The Client will only be entitled to the redemption of Client’s Equity. It is hereby clarified that the Company withholds the above-mentioned dividends in order to cover expenses for custodianship and other expenses. In some jurisdictions, a client may ask the Company to receive dividends received from "long" positions in Equity accounts. The Company reserves, in case of corporate event(s) as defined below, the right to one of the following procedures: (a) close such positions at the last price of the previous trading day and open the equivalent volume of the Financial Instrument at the first available price on the ex-dividend day. (b) leave such positions open and incur all costs on the Client (important notice: while opening a "short" position on a stock that might be involved in a corporate event, the Company shall adjust the Client account with such cost and shall notify the Client as soon as reasonably practicable).