OPSL definition
Examples of OPSL in a sentence
The Client should consult OPSL and become familiarized with the PP before trading in the PP securities.
OPSL is authorized to collect any such transaction or other levies in accordance with the rules prescribed by the relevant exchange, market or clearing house.
Following execution of an Instruction, OPSL will send a confirmation of transaction and thereafter, periodic statements summarizing the transactions effected through the Account over the period covered by the periodic statement by post or electronically as may be selected by the Client.
If the Client provides a settlement sum in a currency other than RMB, OPSL will convert the settlement sum to RMB at the exchange rate determined by OPSL as a principal according to the prevailing exchange rate.
So far as the applicable laws, rules, regulations and the Code permits, OPSL shall not be responsible for the non-performance of its obligations hereunder by reason of the failure of any such broker, agent or third party service provider to perform its duties and obligations, including but not limited to transmission or computer delay, errors or omissions, strikes and similar industrial action or by reason of any cause beyond OPSL’s control.
All Transactions and other information therein contained will be binding on the Client unless OPSL receives the Client’s notice of objection in writing within seven (7) days after the Client receives or deemed to have received them.
The Client warrants that the Client is true owner of the Account(s) and that the Client is not holding the Account(s) on behalf of or for the benefit of any other person, except that, where such warranty would not be correct, the Client will instead provide forthwith to OPSL a signed declaration by the Client stating the name of the person(s) for whom or for whose benefit the Client is holding the Account(s).
In the case that OPSL has confirmed with the Client that the relevant purchase Transaction was completed but the selling party or its broker fails to deliver on the settlement date and OPSL has to purchase the Securities to settle the Transaction, the Client will not be responsible to OPSL for the costs of such purchase.
Save and except for such confirmation of transaction and periodic statements, OPSL shall not be obliged to notify the Client separately as to whether an Instruction has been executed.
Except for the purpose of Closing Out the Client’s open positions or as the HKFE may from time to time prescribe, generally or otherwise, the Client agrees that OPSL shall not transact F.O. Business for the Client until and unless OPSL has received from the Client collateral adequate to cover the Client’s expected trading liabilities, minimum margins and variation adjustments.