Client Money and Assets. 12.1 Unless otherwise notified by VDX your money will be held by VDX as client money. Your funds will therefore be held in an account at an Approved Bank duly licensed and regulated by the regulatory institutions responsible for banking oversight and regulation in the relevant jurisdiction.
Client Money and Assets. 11.1. Client money Cash paid by Client to or as directed by Global Prime as Margin is not client moneys. Cash held as Collateral (as distinct from cash paid as Margin entirely for the benefit of Global Prime) will have the protections conferred by any client money rules when required by the Corporations Act or the Rules. In all other cases, cash is not held as collateral and is not subject to the protections conferred by any client money rules and, as a consequence, will not be segregated from Global Prime’s own money and will be used by Global Prime in the course of its business. Cash so paid will be owed by Global Prime on a debtor/creditor basis and not held by Global Prime as custodian upon trust for Client. Client will rank as one of Global Prime’s general unsecured creditors if Global Prime becomes Insolvent.
Client Money and Assets. 9.1 We will normally settle transactions on a delivery versus payment basis ("DvP"). In accordance with the FCA CASS Rules, any money or designated investments (as defined in the FCA Rules) received by us in relation to a DvP transaction, under this Agreement, is not eligible to be treated as client money (under CASS 7) or protected under the custody rules (CASS 6). In particular, money will therefore not be segregated from our own accounts. In entering into this Agreement and placing orders with us, you agree that we may, at our discretion, fully utilise the DvP exemption as permitted by the FCA Rules.
Client Money and Assets. 59.1 Without prejudice to the provisions of the immediately preceding clause of this Agreement, all Assets (including, without limitation, cash, or only in those instances in which we mayagree otherwise, other assets, such as collateral (by whichwe meaninvestments, securities, bonds or any other financial instrument, property or asset acceptable to us in lieuof cash) handed over by youto us, or whichwe hold onyour behalf for the provision ofour Services (“Client Money”), will be held in an account with an approved bank and will be segregated from the Company’s funds. Your Client Moneymaybe pooled with the funds of other clients in a generalomnibus account.
Client Money and Assets. 11.1. Location of banks We will endeavor to hold client money on your behalf segregated at AAAFx’s “client money” accounts within the European Union, however we may also hold your money outside the European Union, when it is necessary in order to support the clearing and settlement of clients’ transactions. We may hold bank accounts in countries out of EU where the legal and regulatory regime applying to any such bank or person will be different from the legal and regulatory regime in the European Union and in the event of the insolvency or any other analogous proceedings in relation to that bank or person, your money may be treated differently from the treatment which would apply if the money was held with a bank in an account in the European Union. In case that you choose these accounts for depositing your funds, we will not be liable for the insolvency, acts or omissions of any third party referred to in this clause. In all cases we have notified (or will notify regarding new accounts) to the appointed credit institutions that the accounts in which we hold clients’ money must be distinguished from accounts containing funds belonging to the us.
Client Money and Assets. (a) We will not ordinarily (and will not be obliged to) hold investments or other assets on your behalf by way of safe custody.
Client Money and Assets. 70.1 Without prejudice to the provisions of the immediately preceding clause of this Agreement, all assets (including, without limitation, cash or only in cases where we may agree otherwise) transferred to us by you to other assets, such as collateral (meaning investments, securities , bonds or any other financial instrument, property or asset acceptable to us in lieu of cash) or to any other asset transferred to us by you, or to any other financial instrument, property or asset acceptable to us in lieu of cash) Your Customer Money can be pooled in a general omnibus account with other customer funds.
Client Money and Assets. 9.1 Unless otherwise expressly agreed by each of us in writing, where you transfer money to us, we will treat this as a transfer of full ownership of money to us for the purpose of securing or covering your present, future, actual or contingent or prospective obligations, and as such this money will be held at segregated accounts to prevent TEL: +000 00 000 000 FAX: +000 00 000 000 EMAIL: xxxxxxx@xxxxxxxxxx.xxx WEB: xxx.xxxxxxxxxx.xxx AUTHORIZED AND REGULATED BY THE CYPRUS SECURITIES AND EXCHANGE COMISSION LICENSE №: 191/13 | REGISTRATION NUMBER: HE310464 the use of client funds for its own account. Any money received by us from you or a third party for your account will be owed by us to you, even where we are acting as your agent. Since the "Client Money" will not apply to money transferred to us on a title transfer basis, you do not have a proprietary claim over such money, and we can deal with it in our own right. We can agree to transfer an equivalent amount of money back to you where, in our discretion, we consider that the amount of money you have transferred to us is more than is necessary to cover your present and future obligations to us. In determining the amount of collateral and the amount of our obligations to you, we may apply such methodology (including judgments as to the future movement of markets and values), as we consider appropriate, and consistent with Applicable Regulations.
Client Money and Assets. Without prejudice to the provisions of the immediately preceding clause of this Agreement, all Assets (including, without limitation, cash, or only in those instances in which we may agree otherwise, other assets, such as collateral (by which we mean investments, derivatives, bonds or any other financial instrument, property or asset acceptable to us in lieu of cash) handed over by you to us, or which we hold on your behalf for the provision of our Services (“Client Money”), will be held in an account with an approved bank and will be segregated from the Company’s funds. Your Client Money may be pooled with the funds of other clients in a general omnibus account. Unless you notify us beforehand and in writing, we may allow a third party, such as an exchange, a clearing house or an intermediate broker to hold and control all or part of your Client Money, where we transfer your Client Money: (a) for the purposes of a Transaction and/or Contract you have entered into, or are entering into with such third party; or (b) to meet your obligations to provide Collateral or Margin for a Transaction and/or Contract (e.g. an initial Margin requirement for a derivative Transaction). You hereby authorize us to make any deposits and withdrawals from your Account with us on your behalf, including, without limitation and prejudice to the generality of the above, withdrawals for the settlement of all Transactions undertaken and/or Contacts entered into under these Terms and Conditions, as well as for the settlement of any and all amounts which are payable by you, or on your behalf, to us or any other person under and/or pursuant to these Terms and Conditions. Unless otherwise determined and stated "in the terms agreed upon by mutual consent of the Parties", any amount payable by us to you, shall be paid directly to you and not to any other Person, except in those instances there this has been agreed upon by mutual consent of the Parties. Without prejudice to any other provisions of this Agreement, we may, at our sole discretion, from time to time and without your prior authorisation, set-off any amounts held on your behalf against your obligations to us and/or merge any of your Accounts with us. You are entitled to withdraw the funds from your Account which are not used for Margin covering, without closing your Account. Trading in leveraged Financial Instruments involves significant risk on your invested capital. However, LIGER follows a ‘no negative balance’ policy which m...
Client Money and Assets. 23.1 We do not offer safe custody facilities for your investments or other assets. If any investments are provided to us as collateral on a title transfer basis (that is where you transfer full ownership to us for the purpose of securing your obligations), such collateral will not be treated as safe custody assets subject to Applicable Regulations.
