Common use of RISK OF TRADING FUTURES AND OPTIONS Clause in Contracts

RISK OF TRADING FUTURES AND OPTIONS. 期貨及期權買賣的風險 The risk of loss in trading Futures Contracts or Options is substantial. In some circumstances, the Client may sustain losses in excess of the Client's initial margin funds. Placing contingent orders, such as "stop-loss" or "stop-limit" orders, will not necessarily avoid loss. Market conditions may make it impossible to execute such orders. The Client may be called upon at short notice to deposit additional margin funds. If the required funds are not provided within the prescribed time, the Client's position may be liquidated. The Client will remain liable for any resulting deficit in the Client's account. The Client should therefore study and understand Futures Contracts and Options before the Client trades and carefully consider whether such trading is suitable in the light of the Client's own financial position and investment objectives. If the Client trades options the Client should inform itself of exercise and expiration procedures and the Client's rights and obligations upon exercise or expiry. 買賣期貨合約或期權的虧蝕風險可以極大。在若干情況下，客戶所蒙受的虧蝕可能會超過客戶最初存入的保證金數額。即使客戶設定了緊急指示，例如「止蝕」或「限價」等指示，亦未必能夠避免損失。市場情況可能使該等指示無法執行。客戶可能會在短時間內被要求存入額外的保證金。假如未能在指定的時間內提供所需數額，客戶的未平倉合約可能會被平倉。然而，客戶仍然要對客戶的戶口內任何因此而出現的短欠數額負責。因此，客戶在買賣前必須研究及理解期貨合約及期權，以及根據客戶本身的財政狀況及投資目標，仔細考慮這種買賣對客戶是否適合。如果客戶買賣期權，客戶應首先明瞭行使期權和期權到期的程序以及在行使期權或期權到期時客戶的權利和義務。

RISK OF TRADING FUTURES AND OPTIONS. 期貨及期權買賣的風險 期貨及期權交易的風險 The Client acknowledges that the risk of loss in trading Futures Contracts futures contracts or Options options is substantial. In some circumstances, the Client may sustain losses in excess of the Client's Client initial margin funds. Placing contingent orders, such as "stop-loss" or "stop-limit" orders, will not necessarily avoid loss. Market conditions may make it impossible to execute such orders. The Client may be called upon at short notice to deposit additional margin funds. If the required funds are not provided within the prescribed time, the Client's Client position may be liquidated. The Client will remain liable for any resulting deficit in the Client's Client account. The Client should therefore study and understand Futures Contracts futures contracts and Options options before the Client trades and carefully consider whether such trading is suitable in the light of the Client's own financial position and investment objectives. If the Client trades options the Client should inform itself the Client of exercise and expiration procedures and the Client's Client rights and obligations upon exercise or expiry. 買賣期貨合約或期權的虧蝕風險可以極大。在若干情況下，客戶所蒙受的虧蝕可能會超過客戶最初存入的保證金數額。即使客戶設定了緊急指示，例如「止蝕」或「限價」等指示，亦未必能夠避免損失。市場情況可能使該等指示無法執行。客戶可能會在短時間內被要求存入額外的保證金。假如未能在指定的時間內提供所需數額，客戶的未平倉合約可能會被平倉。然而，客戶仍然要對客戶的戶口內任何因此而出現的短欠數額負責。因此，客戶在買賣前必須研究及理解期貨合約及期權，以及根據客戶本身的財政狀況及投資目標，仔細考慮這種買賣對客戶是否適合。如果客戶買賣期權，客戶應首先明瞭行使期權和期權到期的程序以及在行使期權或期權到期時客戶的權利和義務。客戶確認買賣期貨合約或期權的虧蝕風險可以極大。在若干情況下，客戶所蒙受的虧蝕可能會 超過最初存入的保證金數額。即使客戶設定了備用指示，例如"止蝕"或"限價"等指示，亦未必能夠避免損失。市場情況可能使該等指示無法執行。客戶可能會在短時間內被要求存入額外的保 證金。假如未能在指定的時間內提供所需數額，客戶的未平倉合約可能會被平倉。然而，客戶 仍然要對客戶的帳戶內任何因此而出現的短欠數額負責。因此，客戶在買賣前應研究及理解期 貨合約及期權，以及根據本身的財政狀況及投資目標，仔細考慮這種買賣是否適合客戶。如果 客戶買賣期權，便應熟悉行使期權及期權到期時的程序，以及客戶在行使期權及期權到期時的 權利與責任。 B. ADDITIONAL RISK DISCLOSURE FOR FUTURES AND OPTIONS TRADING 關於期貨及期權買賣的額外風險披露 The Client acknowledges that this brief statement does not disclose all of the risks and other significant aspects of trading in futures and options. In light of the risks, the Client should undertake such transactions only if the Client understands the nature of the contracts (and contractual relationships) into which The Client is entering and the extent of the Client exposure to risk. Trading in futures and options is not suitable for many members of the public. The Client should carefully consider whether trading is appropriate for the Client in light of the Client experience, objectives, financial resources and other relevant circumstances. 客戶確認本聲明並不涵蓋買賣期貨及期權的所有風險及其他重要事宜。就風險而言，客戶在進 行任何上述交易前，應先瞭解將訂立的合約的性質(及有關的合約關係)和客戶就此須承擔的風險程度。期貨及期權買賣對很多公眾投資者都並不適合，客戶應就本身的投資經驗、投資目標、 財政資源及其他相關條件，小心衡量自己是否適合參與該等買賣。 FUTURES 期貨

RISK OF TRADING FUTURES AND OPTIONS. 期貨及期權買賣的風險 期貨及期權交易的風險 The Client acknowledges that the risk of loss in trading Futures Contracts futures contracts or Options options is substantial. In some circumstances, the Client may sustain losses in excess of the Client's Client initial margin funds. Placing contingent orders, such as "stop-loss" or "stop-limit" orders, will not necessarily avoid loss. Market conditions may make it impossible to execute such orders. The Client may be called upon at short notice to deposit additional margin funds. If the required funds are not provided within the prescribed time, the Client's Client position may be liquidated. The Client will remain liable for any resulting deficit in the Client's Client account. The Client should therefore study and understand Futures Contracts futures contracts and Options options before the Client trades and carefully consider whether such trading is suitable in the light of the Client's own financial position and investment objectives. If the Client trades options the Client should inform itself the Client of exercise and expiration procedures and the Client's Client rights and obligations upon exercise or expiry. 買賣期貨合約或期權的虧蝕風險可以極大。在若干情況下，客戶所蒙受的虧蝕可能會超過客戶最初存入的保證金數額。即使客戶設定了緊急指示，例如「止蝕」或「限價」等指示，亦未必能夠避免損失。市場情況可能使該等指示無法執行。客戶可能會在短時間內被要求存入額外的保證金。假如未能在指定的時間內提供所需數額，客戶的未平倉合約可能會被平倉。然而，客戶仍然要對客戶的戶口內任何因此而出現的短欠數額負責。因此，客戶在買賣前必須研究及理解期貨合約及期權，以及根據客戶本身的財政狀況及投資目標，仔細考慮這種買賣對客戶是否適合。如果客戶買賣期權，客戶應首先明瞭行使期權和期權到期的程序以及在行使期權或期權到期時客戶的權利和義務。客戶確認買賣期貨合約或期權的虧蝕風險可以極大。在若干情況下，客戶所蒙受的虧蝕可能會超過最初存入的保證金數額。即使客戶設定了備用指示，例如“止蝕”或“限價”等指示，亦未必能夠避免損失，市場情況可能使該等指示無法執行。客戶可能會在短時間內被要求存入額外的保證金。假如未能在指定的時間內提供所需數額， 客戶的未平倉合約可能會被平倉。然而，客戶仍然要對客戶的帳戶內任何因此而出現的短欠數額負責。因此，客戶在買賣前應研究及理解期貨合約及期權，以及根據本身的財政狀況及投資目標，仔細考慮這種買賣是否適合客戶。如果客戶買賣期權，便應熟悉行使期權及期權到期時的程序，以及客戶在行使期權及期權到期時的權利與責任。 B. ADDITIONAL RISK DISCLOSURE FOR FUTURES AND OPTIONS TRADING 關於期貨及期權買賣的額外風險披露 The Client acknowledges that this brief statement does not disclose all of the risks and other significant aspects of trading in futures and options. In light of the risks, the Client should undertake such transactions only if the Client understands the nature of the contracts (and contractual relationships) into which the Client is entering and the extent of the Client exposure to risk. Trading in futures and options is not suitable for many members of the public. The Client should carefully consider whether trading is appropriate for the Client in light of the Client experience, objectives, financial resources and other relevant circumstances. 客戶確認本聲明並不涵蓋買賣期貨及期權的所有風險及其他重要事宜。就風險而言，客戶在進行任何上述交易前，應先瞭解將訂立的合約的性質（及有關的合約關係）和客戶就此須承擔的風險程度。期貨及期權買賣對很多公眾投資者都並不適合，客戶應就本身的投資經驗、投資目標、財政資源及其他相關條件，小心衡量自己是否適合參與該等買賣。 FUTURES 期貨