Common use of Risk-Reducing Orders or Strategies Clause in Contracts

Risk-Reducing Orders or Strategies. 3.1 The placing of certain orders (e.g. “stop-loss” orders, or “stop-limit” orders) which are intended to limit losses to certain amounts may not be effective because market conditions may make it impossible to execute such orders. Strategies using combinations of positions, such as “spread” and “straddle” positions may be as risky as taking simply “long” or “short” positions.

Risk-Reducing Orders or Strategies. 3.1 The placing of certain orders (e.g. “stop-stop loss” orders, or “stop-limitstop limits” orders) which that are intended to limit losses to certain amounts may not always be effective affected because market conditions or technological limitations may make it impossible to execute such orders. Strategies using combinations of positions, positions such as “spread” and “straddle” positions may be just as risky as taking simply or even riskier than simple “long” or “short” positions.

Risk-Reducing Orders or Strategies. 3.1 The placing of certain orders (e.g. “"stop-loss” " orders, or “"stop-limit” " orders) which are intended to limit losses to certain amounts may not be effective because market conditions may make it impossible to execute such orders. Strategies using combinations of positions, such as “"spread” " and “"straddle” " positions may be as risky as taking simply “simple "long” " or “"short” " positions.

Risk-Reducing Orders or Strategies. 3.1 The placing of certain orders (e.g. “stop-loss” ordersorder, where permitted under local law, or “stop-limit” orders) which are intended to limit losses to certain amounts may not be effective because market conditions may make it impossible to execute such orders. Strategies using combinations of positions, such as “spread” and “straddle” positions may be as risky as taking simply simple “long” or “short” positions.

Risk-Reducing Orders or Strategies. 3.1 The placing of certain orders (e.g. “`stop-loss” ' orders, where permitted under local law, or “`stop-limit” ' orders) which are intended to limit losses to certain amounts may not be effective because market conditions may make it impossible to execute such orders. Strategies using combinations of positions, such as “`spread” ' and “`straddle” ' positions may be as risky as taking simply “simple `long” ' or “`short” ' positions.. Options

Risk-Reducing Orders or Strategies. 3.1 The placing of certain orders (e.g. e.g., “stop-loss” orders, where permitted under local law, or “stop-stop limit” orders) which are intended to limit losses to a certain amounts amount, may not be effective because market conditions may make it impossible to execute such orders. Strategies using combinations of positions, such as “spread” and “straddle” positions positions, may be as risky as taking simply simple “long” or “short” positions.

Risk-Reducing Orders or Strategies. 3.1 The placing of certain orders (e.g. “stop-loss” orders, or “stop-limit” orders) which are intended to limit losses to certain amounts may not be effective because market conditions may make it impossible to execute such orders. Strategies using combinations of positions, such as “spread” and “straddle” positions may be as risky as taking simply simple “long” or “short” positions.

Risk-Reducing Orders or Strategies. 3.1 The placing of certain orders (e.g. “‘stop-loss” ’ orders, or “‘stop-limit” ’ orders) which are intended to limit losses to certain amounts may not be effective because market conditions may make it impossible to execute such orders. Strategies using combinations of positions, such as “‘spread” ’ and “‘straddle” ’ positions may be as risky as taking simply “simple ‘long” ’ or “‘short” ’ positions.

Risk-Reducing Orders or Strategies. 3.1 28.2.1. The placing of certain orders (e.g. “e.g., "stop-loss” " orders, where permitted under local law, or “"stop-limit” " orders) ), which are intended to limit losses to certain amounts amounts, may not be effective because adequate if market conditions may make it impossible to execute such orders, e.g., due to illiquidity in the market. 28.2.2. Strategies using combinations of positions, such as “"spread” " and “"straddle” positions " positions, may be as risky as taking simply “simple "long” " or “"short” " positions.. OPTIONS

Risk-Reducing Orders or Strategies. 3.1 The placing of certain orders (e.g. e.g., “stop-loss,” orders, where permitted under local law, or “stop-limit” orders) which are intended to limit limited losses to certain amounts may not be effective because market conditions may make it impossible to execute such orders. Strategies using combinations of positions, such as “spread” and “straddle” positions may be as risky as taking simply simple “long” or “short” positions.

Risk-Reducing Orders or Strategies. 3.1 The placing of certain orders (e.g. “'stop-loss” ' orders, or “'stop-limit” ' orders) which are intended to limit losses to certain amounts may not be effective because market conditions may make it impossible to execute such orders. Strategies using combinations of positions, such as “'spread” ' and “'straddle” ' positions may be as risky as taking simply “long” simple 'long ' or “'short” ' positions.

Risk-Reducing Orders or Strategies. 3.1 The placing of certain orders (e.g. “'stop-loss” ' orders, or “'stop-limit” ' orders) which are intended to limit losses to certain amounts may not be effective because market conditions may make it impossible to execute such orders. Strategies using combinations of positions, such as “'spread” ' and “'straddle” ' positions may be as risky as taking simply “long” 'long ' or “'short” ' positions.

Risk-Reducing Orders or Strategies. 3.1 The placing of certain orders (e.g. “‘stop-loss” ’ orders, or “stop-‘stop- limit” ’ orders) which are intended to limit losses to certain amounts may not be effective because market conditions may make it impossible to execute such orders. Strategies using combinations of positions, such as “‘spread” ’ and “‘straddle” ’ positions may be as risky as taking simply “simple ‘long” ’ or “short” ’ positions.

Risk-Reducing Orders or Strategies. 3.1 The placing of certain orders (e.g. “‘stop-loss” ’ orders, or “‘stop-limit” ’ orders) which are intended to limit losses to certain amounts may not be effective because market conditions may make it impossible to execute such orders. Strategies using combinations of positions, such as “‘spread” ’ and “‘straddle” ’ positions may be as risky as taking simply “simple ‘long” ’ or “short” ’ positions.

Risk-Reducing Orders or Strategies. 3.1 The placing of certain orders (e.g. “stop-loss” ordersor- ders, where permitted under local law, or “stop-limit” ordersstop- limit”orders) which are intended to limit losses to certain amounts amounts, may not be effective because market markets conditions may make it impossible to execute such orders. Strategies using combinations of positions, such as “spread” and “straddle” positions may be as risky as taking simply simple “long” or “short” positions.

Risk-Reducing Orders or Strategies. 3.1 14.1. The placing of certain orders (e.g. “e.g., stop-loss” loss orders), or “stop-limit” orders) which are intended to limit losses to certain amounts may not be effective because market conditions may make it impossible to execute such orders. Strategies using combinations of positions, such as “"spread” " and “"straddle” positions " positions, may be as risky as taking simply “simple "long” " or “"short” " positions.

Risk-Reducing Orders or Strategies. 3.1 The placing of certain orders (e.g. e.g., “stop-stop loss” orders, or “stop-limitstop limits” orders) which that are intended to limit losses to certain amounts may not always be effective affected because market conditions or technological limitations may make it impossible to execute such orders. Strategies using combinations of positions, positions such as “spread” and “straddle” positions may be just as risky as taking simply or even riskier than simple “long” or “short” positions.

Risk-Reducing Orders or Strategies. 3.1 The placing of certain orders (e.g. e.g., “stop-loss” ordersorder, where permitted under local law, or “stop-limit” orders) which are intended to limit losses to certain amounts may not be effective because market conditions may make it impossible to execute such orders. Strategies using combinations of positions, such as “spread” and “straddle” positions may be as risky as taking simply simple “long” or “short” positions.

Risk-Reducing Orders or Strategies. 3.1 The placing of certain orders (e.g. “'stop-loss” ' orders, where permitted under local law, or “'stop-limit” ' orders) which are intended to limit losses to certain amounts may not be effective because market conditions may make it impossible to execute such orders. Strategies using combinations of positions, such as “'spread” ' and “'straddle” ' positions may be as risky as taking simply “simple 'long” ' or “'short” ' positions.