CUSTOMER AGREEMENT OF SECURITIES FUTURES THIS AGREEMENT IS A LEGAL CONTRACT, PLEASE READ IT CAREFULLY. 這是一份法律合同，請認真閱讀。 This is a legal contract by and between WALL STREET EXCHANGE OF SECURITIES FUTURES, its successors and as

 
THIS AGREEMENT IS A LEGAL CONTRACT, PLEASE READ IT CAREFULLY.
這是一份法律合同，請認真閱讀。
 
This is a legal contract by and between WALL STREET EXCHANGE OF SECURITIES FUTURES, its successors and assigns, referred to collectively in this document as “EXCHANGE”, and the party (or parties) executing this document, referred to collectively as “Customer”.
本協(xié)議為美國華爾街期貨交易所及其繼承人、受權人（以下簡(jiǎn)稱(chēng)“交易所”）與履行本協(xié)議的一方或多方（以下簡(jiǎn)稱(chēng)“客戶(hù)”）之間簽署的、具有法律約束力的合同文件。
 
In consideration of EXCHANGE agreeing to carry one or more accounts of Customer and providing services to Customer in connection with the purchase and sale of cash commodities (including financial instruments), commodity futures contracts, securities futures products, options on cash commodities, options on futures contracts, forward or leverage contracts, forward rate transactions, commodity swaps, foreign exchange transactions, currency swap transactions, cross-currency rate swap transactions, currency options, and other derivatives of futures and/or foreign currency contracts, and any similar instruments which may be purchased or sold by or through EXCHANGE for Customers Account(s) (collectively referred to as “Commodities” or “Futures”), Customer agrees to the following terms and conditions:
鑒于交易所同意為客戶(hù)開(kāi)立一個(gè)或多個(gè)帳戶(hù)，并同意就現貨產(chǎn)品（包括金融工具）、商品期貨合同、證券期貨產(chǎn)品和現貨期權、期貨合同期權、遠期合同期權或杠桿保證金合同期權、遠期匯率交易、商品交易、外匯交易、貨幣兌換、貨幣期權、其它期貨和/或外幣合同衍生產(chǎn)品、以及可通過(guò)交易所為客戶(hù)帳戶(hù)購買(mǎi)或出售的（統稱(chēng)為“商品”或“期貨”）任何類(lèi)似工具的購買(mǎi)和出售向客戶(hù)提供相關(guān)服務(wù)，客戶(hù)同意下列條款：
 
1. AUTHORIZATION TO TRADE. 交易授權
EXCHANGE is authorized to purchase and sell cash commodities (including financial instruments), commodities futures contracts, security futures products, options on cash commodities, options on commodity futures contracts, forward or leverage contracts, forward rate transactions, commodity swaps, foreign exchange transactions, currency swap trans actions, cross-currency rate swap transactions, currency options, and other derivatives of futures and/or foreign currency contracts for Customer’s Account(s) in accordance with Customer’s oral, written or electronically transmitted instructions. Unless instructed by Customer to the contrary in writing, EXCHANGE is authorized to execute all futures and option orders on such recognized contract markets, as EXCHANGE deems appropriate. Customer authorizes EXCHANGE to purchase and sell physically settled and cash settled foreign currency contracts on
a spot basis for Customer’s Account in accordance with Customer’s instructions. Customer agrees that Customer is fully responsible for making all final decisions as to transactions effected for Customer’s Account. Customer has considered the factors contained below and in view of Customer’s present and anticipated financial resources, Customer is willing and able to assume the substantial financial risks of trading in the above markets.
交易所獲得客戶(hù)授權，按照客戶(hù)的口頭、書(shū)面或電子形式傳遞的指示為客戶(hù)賬戶(hù)進(jìn)行現貨產(chǎn)品（包括金融工具）、商品期貨合同、證券期貨產(chǎn)品和現貨期權、期貨合同期權、遠期合同期權或杠桿保證金合同期權、遠期匯率交易、商品交易、外匯交易、貨幣兌換、貨幣期權、其他期貨和/或外幣合同衍生產(chǎn)品的購買(mǎi)和出售。除非客戶(hù)書(shū)面另有指示，否則交易所有權在其認為適當的獲得認可的合同市場(chǎng)上進(jìn)行所有期貨和期權下單?？蛻?hù)授權交易所按照客戶(hù)的指示，即期為客戶(hù)賬戶(hù)買(mǎi)進(jìn)和賣(mài)出實(shí)物結算和現金結算的外幣合同?？蛻?hù)同意：對于客戶(hù)賬戶(hù)進(jìn)行的所有交易，客戶(hù)自己對于最終結果負完全責任?？蛻?hù)已經(jīng)考慮了下文中的各因素，并且考慮到客戶(hù)當前和將來(lái)預期的金融資源，客戶(hù)愿意并且有能力承擔在上述市場(chǎng)上進(jìn)行交易所帶來(lái)的相當大的風(fēng)險。
 
2. TRANSACTIONS SUBJECT TO INDUSTRY REGULATIONS AND STANDARDS.
交易應遵守行業(yè)法規和標準
All transactions shall be subject to the regulations of all applicable government authorities and self-regulatory agencies including, but not limited to, the constitutions and rules of the clearinghouse, exchange, or market where trades are executed. Customer understands that EXCHANGE is obligated to comply with all applicable laws and regulations including those of regulatory and self-regulatory organizations and agrees that EXCHANGE shall not be liable to Customer as a result of any action taken by EXCHANGE to comply with any ruling, interpretation or directive
of such organization. The Customer recognizes that rates and/or prices it may view on electronic market information screens (e.g. Reuters, Flash Quotes, Telerate, etc.) are only indications of rates and/or prices, and may or may not reflect actual rates and/or prices available to EXCHANGE or the Customer.
所有交易都應當遵守所有適用政府機關(guān)和自律機構的法規，包括但不僅限于在其處進(jìn)行交易的結算所、交易所或市場(chǎng)的章程和規定?？蛻?hù)了解交易所有義務(wù)遵守所有適用法律和法規，包括那些管理部門(mén)和自律組織的適用法律和規定，并且客戶(hù)同意：交易所不應當因其遵守上述部門(mén)的任何裁定、解釋或命令而對客戶(hù)承擔任何義務(wù)?？蛻?hù)承認其可能在市場(chǎng)電子信息屏幕上看到的匯率和/或價(jià)格（如路透社、Flash Quotes、德勵等的匯率和/或價(jià)格）僅為匯率和/或價(jià)格的參考，可能反映了交易所或客戶(hù)可用的實(shí)際匯率和/或價(jià)格，也可能無(wú)法反映交易所或客戶(hù)可用的實(shí)際匯率和/或價(jià)格。
 
In all transactions under this Agreement, Customer shall be bound by all applicable laws, rules and regulations, including the Commodity Exchange Act, as amended, the Commodity Futures Trading Commission regulations there under, and the rules, regulations, customs, usages, rulings and interpretations of the National Futures
Association (“NFA”), and to the extent applicable, the Securities and Exchange Commission, National Association of Securities Dealers, and the exchange or market and the clearing house, if any, where the transactions are executed by EXCHANGE or EXCHANGE’s agents.
據本協(xié)議進(jìn)行任何交易，客戶(hù)都有義務(wù)遵守所有適用法律、規定和法規，包括《商品交易法》或其修訂后版本、商品期貨交易委員會(huì )法規以及美國國家期貨協(xié)會(huì )（NFA）頒布的規定、法規、慣例、習慣、裁定和解釋?zhuān)徊⑶铱尚械脑?huà)，還要遵守美國證券交易委員會(huì )、全美證券商協(xié)會(huì )以及交易所或其代理在其處進(jìn)行交易的交易所、市場(chǎng)或結算所的規定、法規、慣例、習慣、裁定和解釋。
 
3. MARGINS/DEPOSIT REQUIREMENTS. 保證金/存款要求
EXCHANGE’s margin policies and/or the policies of those exchanges on which trading occurs may require that additional funds be provided to properly margin Customer’s Account. Customer understands that Customer is obligated to promptly meet such margin requirements. Failure to meet margin calls may result in the liquidation of
any open positions with a resultant loss.
交易所的保證金政策和/或進(jìn)行交易的交易所的政策可能會(huì )要求提供額外資金，作為客戶(hù)帳戶(hù)的保證金?？蛻?hù)理解其有義務(wù)使自己立即符合上述保證金要求。如未能符合保證金要求，可能會(huì )導致對未了結頭寸進(jìn)行清算，從而造成虧損。
 
As security for Customers obligation to EXCHANGE hereunder, Customer shall provide to and maintain with EXCHANGE margin and/or collateral in such amounts and in such forms as EXCHANGE, in its sole and absolute discretion, may from time to time require. Margin requirements may be increased at EXCHANGEs sole and absolute discretion. Such margin requirements may exceed margins established by an exchange. EXCHANGE may change
margin requirements at any time. Margin requirements are subject to change without notice and will be enforced retroactively and prospectively. Customer acknowledges and agrees that EXCHANGE has no obligation to establish uniform margin requirements and that such requirements may be higher for single stock futures and other security
futures products. No previous margin requirement by EXCHANGE shall preclude EXCHANGE from increasing that requirement without prior notice. Further, EXCHANGE will exercise considerable discretion in setting and collecting margin associated with foreign currency transactions. For margin purposes associated with foreign currency transactions, Customer has authorized EXCHANGE to convert Customers funds into and from such foreign currency at a rate of exchange determined by EXCHANGE, in its sole discretion, on the basis of the then prevailing money market rates.
作為客戶(hù)對交易所履行義務(wù)的保證金，客戶(hù)應當提供保證金和/或抵押金，并在數量上和形式上符合交易所依其判斷而規定的數量和形式。根據交易所自行判斷，保證金數量可以增加。此保證金數額要求可能超過(guò)交易所規定的數額。交易所可以隨時(shí)更改保證金要求。保證金要求如發(fā)生變更，交易所無(wú)需通知客戶(hù)，該變更不可取消且將會(huì )生效?？蛻?hù)承認并同意EXCHANGE沒(méi)有制定統一的保證金要求的義務(wù)，并且對于單筆股票期貨和其他證券期貨產(chǎn)品，保證金要求可以更高。交易所之前做出的任何保證金要求都不排除交易所不經(jīng)事先通知而提高保證金數額的可能。此外，交易所將相當謹慎地規定和收取外幣交易保證金。對于收取的外幣交易保證金，客戶(hù)授權交易所依其判斷，按照當時(shí)貨幣市場(chǎng)普遍的匯率，將客戶(hù)的資金按照EXCHANGE確定的匯率兌換成外幣或將外幣兌換成客戶(hù)本國貨幣資金。
 
Customer agrees to deposit by immediate wire transfer such additional margin when and as required by EXCHANGE, and will promptly meet all margin calls in such mode of transmission, as EXCHANGE shall in its sole discretion designate. Customer agrees to provide EXCHANGE with the names of bank officers and information necessary for immediate verification of wire transfers. Notwithstanding any demand for additional margin, EXCHANGE may at any time proceed to liquidate Customers Account in accordance with paragraph 10 below. Any failure by EXCHANGE to enforce its rights hereunder shall not be deemed a waiver by EXCHANGE to enforce its rights thereafter.
客戶(hù)同意當交易所要求增加保證金時(shí)，將立即通過(guò)電匯將保證金存入，并且將以交易所自行判斷指定方式使自己的賬戶(hù)符合所有保證金要求?？蛻?hù)同意向交易所提供銀行職員的姓名和直接核實(shí)電匯所需的信息。盡管可能有任何增加保證金的要求，交易所仍可以隨時(shí)根據下文第十部分清算客戶(hù)賬戶(hù)。如果交易所未能據此規定履行其此項權利，交易所不應被認為放棄在以后行使的權利
 
4. LIMIT OF POSITIONS. 頭寸限制
Exchanges where trading occurs may impose daily trading limits with respect to the trading of certain commodities and may, from time to time, change such trading limits. Such trading limits and limit changes may cause trading in a certain commodity to cease, thereby preventing the liquidation of an adverse position, which may result in a substantial financial loss. Trading in commodity futures is suitable only for those persons or entities financially able to withstand losses that may substantially exceed the value of margins or deposits. Customer acknowledges Customer’s reporting obligations, among others, pursuant to regulations promulgated by the Commodity Futures Trading Commission (“CFTC”),such as Customer’s obligation to notify the CFTC when Customer’s position is reportable.
進(jìn)行交易的交易所可能會(huì )對某些商品的日交易量施加限額，并且可能會(huì )不時(shí)調整該限額。交易限額和限制變更可能會(huì )造成某種商品停止交易，因此可能會(huì )阻止不利頭寸的清算，并可能進(jìn)一步造成相當數量的經(jīng)濟損失。商品期貨的交易只適合那些經(jīng)濟上有能力承擔可能超出保證金或存款價(jià)值相當數額損失的人或機構?？蛻?hù)承認其有根據商品期貨交易委員會(huì )（CFTC）頒布的法規進(jìn)行報告的義務(wù)，例如當其交易量應進(jìn)行報告時(shí)，通知商品期貨交易委員會(huì )的義務(wù)。
EXCHANGE retains the right to limit the number of open positions a Customer may acquire or maintain at EXCHANGE and/or the size of transaction a Customer may execute through EXCHANGE. EXCHANGE will attempt to execute all orders that EXCHANGE may, in EXCHANGE’s sole discretion, choose to accept for the purchase or sale of contracts or other property in accordance with the oral or writ ten instructions of Customer. EXCHANGE reserves the right to refuse to accept any order. Notwithstanding the foregoing, EXCHANGE shall not be responsible for any loss or damage caused, directly or indirectly, by any events, actions or omissions beyond EXCHANGE’s control, including any delays or inaccuracies in the transmission of orders and/ or information due to a breakdown in or failure of any transmission or communication facilities.
交易所保留限制客戶(hù)在交易所獲取或保有的未了結頭寸數量的權利，以及/或限制客戶(hù)通過(guò)EXCHANGE進(jìn)行的交易的量大小的權利。對于所有交易所依其判斷并遵照客戶(hù)的口頭或書(shū)面指示選擇接受的合同或其他資產(chǎn)的購買(mǎi)或出售的交易單，交易所都將嘗試執行。交易所保留拒絕接受任何交易單的權利。盡管有前述條款，交易所不應對因其控制之外任何事件、行為或疏忽（包括交易單傳遞過(guò)程中發(fā)生的任何延遲或不準確以及/或因通訊設備故障或傳遞失敗發(fā)生的信息延遲或不準確）而直接或間接造
成的任何損失或損壞負責。
 
 
5. COMMODITY OPTIONS TRADING 商品期權交易
With respect to purchases or sales of options on cash commodities or futures contracts (“Commodity Options”), Customer acknowledges and understands the risks of buying and selling options on commodity futures contracts and the risks of such option trading caused by a limit move in the underlying commodity futures contract. Customer has been advised of the commissions and fees associated with trading options.
對于現金商品或期貨合同（商品期權）期權的購買(mǎi)或出售，客戶(hù)承認并了解購買(mǎi)和出售商品期貨合同期權存在的風(fēng)險，以及由于基礎商品期貨合同限制造成的期權交易風(fēng)險?？蛻?hù)已經(jīng)被告知期權交易相關(guān)的傭金和費用。
 
Customer is fully responsible for taking action to exercise an option contract. EXCHANGE shall not be required to take any action with respect to an option contract, including any action to exercise a valuable option prior to its expiration date, except upon express instructions from Customer. Customer agrees to instruct EXCHANGE as to the exercise and disposition of Commodity Options. Customer understands that the exchanges, boards of trade, markets and clearinghouses have established exercise cut-off times for the tender of exercise instructions and that Customer’s options will become worthless in the event that Customer does not deliver instructions by EXCHANGE’s established expiration times. Customer understands that EXCHANGE has established exercise cut-off times, which may be different from the times established by the exchanges, boards of trade, markets, and clearinghouses.
客戶(hù)對于執行期權合同負有完全責任。除非客戶(hù)明確指示，否則交易所不應當被要求就期權合同采取任何行為，包括在期權到期日之前執行有價(jià)期權?？蛻?hù)同意就執行和處理商品期權給予指示交易所?？蛻?hù)了解交易所、商會(huì )、市場(chǎng)和結算所已經(jīng)確立了提出執行指示的截止時(shí)間，如果客戶(hù)不在交易所確定的到期時(shí)間前發(fā)出任何指示，客戶(hù)的期權將毫無(wú)價(jià)值?？蛻?hù)了解交易所已經(jīng)確定了執行截至時(shí)間，該時(shí)間可能與交易所、商會(huì )、市場(chǎng)和結算所確定的時(shí)間不同。
 
Customer shall give EXCHANGE instructions for exercising Commodity Options not later than two hours prior to the close of trading in the underlying commodity or futures con tract on the day Customer intends to exercise a Commodity Option. Customer, by noon of the business day before the last day of trading of a Commodity Option, shall instruct EXCHANGE whether to liquidate, exercise, or abandon the Commodity Option. In the absence of timely instructions from Customer, EXCHANGE is authorized, at EXCHANGE’s absolute discretion, to exercise or liquidate all or any portion of the Commodity Options in Customer’s Account(s) for Customer’s Account(s) and at Customer’s risk.
客戶(hù)如果打算執行一個(gè)商品期權，則應不遲于當日基礎商品或期貨合同交易收盤(pán)前兩小時(shí)指示交易所執行商品期權?？蛻?hù)在一個(gè)商品期權交易最后一天前的一個(gè)工作日中午之前，應當指示交易所清算、執行或放棄該商品期權。如果客戶(hù)沒(méi)有及時(shí)做出指示，交易所有權根據其判斷，為客戶(hù)賬戶(hù)執行或清算全部或任何部分的商品期權，所有風(fēng)險均由客戶(hù)承擔。
 
Customer hereby agrees to waive any and all claims for damage or loss that Customer might have against EXCHANGE arising out of the fact that an option was not exercised.
客戶(hù)特此同意放棄任何及所有就某一期權未能執行而產(chǎn)生的損失向交易所索賠的權利。
 
6. ONLINE ORDER ENTRY SYSTEM 在線(xiàn)訂單錄入系統
EXCHANGE offers the service of an online order entry system, which allows Customer to trade with EXCHANGE online via the Internet utilizing BESTDirect. ,a division of EXCHANGE, as well as all other approved online order entry systems. Although numerous features have been designed into BESTDirect. and the other approved systems to prevent system failure, as with all electronic systems, service could be interrupted. Should the system be interrupted, depending on the type of failure, it may not be possible for Customer to access the system to enter new orders, modify existing orders, or cancel previously entered but not yet filled orders. System or component failure
may also result in loss of orders or order priority.
交易所提供在線(xiàn)訂單錄入系統服務(wù)，客戶(hù)可以通過(guò)互聯(lián)網(wǎng)，利用交易所的BESTDirect. 在線(xiàn)與交易所進(jìn)行交易。盡管BESTDirect. 的許多功能設計用于防止系統故障，（例如電子系統），但服務(wù)仍有可能中斷。如果系統中斷，根據故障類(lèi)型，客戶(hù)可能無(wú)法訪(fǎng)問(wèn)系統錄入新訂單、修改現有訂單或取消之前錄入但尚未執行的訂單。系統或系統組件故障還可能導致訂單或訂單優(yōu)先級別丟失。
 
EXCHANGE does not guarantee that any order placed through this system will be filled or acted on. EXCHANGE reserves the right to refuse any order for any reason. Customer is solely responsible for confirming Customers own orders. Should Customer fail to receive electronic confirmation as to the placement of an order, Customer agrees to
verify the status of such order independently by contacting EXCHANGE telephonically to confirm whether such order has been received. Any order so received by EXCHANGE will be deemed to have been placed by Customer at the time received by EXCHANGE and in the form EXCHANGE receives such order. Customer further agrees that all orders
placed through BEST Direct are placed at Customers sole risk.
交易所并不保證通過(guò)此系統下發(fā)的任何訂單都將會(huì )被錄入或執行。交易所保留無(wú)任何理由拒絕任何訂單的權利?？蛻?hù)對于確認自己的訂單負有完全責任。如果客戶(hù)未收到任何電子形式的訂單確認，客戶(hù)同意將自行電話(huà)聯(lián)系交易所確認是否已經(jīng)收到訂單，以此種方式自確認訂單的狀態(tài)。交易所以此種方式收到的任何訂單都將被認為是在交易所收到之時(shí)由客戶(hù)以交易所收到的形式下發(fā)?？蛻?hù)進(jìn)一步同意：通過(guò)BEST Direct下發(fā)的所有訂單的相關(guān)風(fēng)險均有其自身承擔。
 
(a) Minimum Equity Requirement. Customer acknowledges that should the equity in Customers Account fall below $500, Customers access to place trades through BEST Direct will be suspended until such time as the equity in Customers Account shall again equal or exceed $500.
最低資產(chǎn)要求?？蛻?hù)承認如果客戶(hù)賬戶(hù)的資產(chǎn)低于$500，則在客戶(hù)賬戶(hù)資產(chǎn)重新等于或大于$500之前，客戶(hù)將暫時(shí)無(wú)法通過(guò)BEST Direct下發(fā)交易要求。
 
(b) Access Number. Customer agrees to be responsible for all orders entered through and under Customers access number(s) and account number(s). Customer agrees to immediately notify EXCHANGE in the event of any loss, theft, or unauthorized use of Customers access number(s), pass-word(s), and/or account number(s) or any incorrect
information contained in any repor t Customer received concerning Customers Account.
訪(fǎng)問(wèn)號?？蛻?hù)同意對所有通過(guò)客戶(hù)的訪(fǎng)問(wèn)號和以客戶(hù)訪(fǎng)問(wèn)號錄入的訂單負責?？蛻?hù)同意：如果客戶(hù)訪(fǎng)問(wèn)號、密碼和/或帳號出現任何丟失、失竊、未經(jīng)授權使用，或者客戶(hù)收到的有關(guān)其客戶(hù)賬戶(hù)的任何報告中包含任何錯誤信息，客戶(hù)將立即通知交易所。
 
(c) Restricted Account. EXCHANGE reserves, in its sole discretion, the right to restrict, terminate and/or suspend Customers access to BEST Direct. Customer acknowledges that if EXCHANGE places a restriction on Customers Account, Customer will not be able to use BEST Direct online trading function. Customer agrees to hold EXCHANGE
harmless for any and all claims, losses, liability, costs and expenses (including but not limited to attorneys fees) arising from EXCHANGEs restriction of Customers access to BEST Direct. EXCHANGE reserves, in its sole discretion, the right to terminate Customers access to BEST Direct without notice for any reason, including but not limited to unauthorized use of Customers access number(s), and/or account number(s), or breach of this Agreement.
受限賬戶(hù)。交易所保留依其判斷，限制、終止和/或暫?？蛻?hù)訪(fǎng)問(wèn)BEST Direct的權利?？蛻?hù)承認如果交易所對客戶(hù)賬戶(hù)進(jìn)行限制，客戶(hù)將不能使用BEST Direct的在線(xiàn)交易功能?？蛻?hù)同意：EXCHANGE將不受因對客戶(hù)訪(fǎng)問(wèn)BEST Direct進(jìn)行限制而產(chǎn)生的任何及所有索賠、損失、責任、成本和花費（包括但不僅限于律師費用）的損害。交易所保留依其判斷終止客戶(hù)訪(fǎng)問(wèn)BEST Direct的權利，并且無(wú)需通知客戶(hù)任何理由，包括但不僅限于未經(jīng)授權使用客戶(hù)訪(fǎng)問(wèn)號和/或賬號，或者違反本協(xié)議。
 
7. CURRENCY FOREX TRADING 貨幣外匯交易
Foreign currency transactions (hereinafter referred to as “Currency Forex”) are traded on the “interbank” system, and not on regulated exchanges like commodities. The interbank system consists of counterparties that exchange currency positions with each other. A counterparty may be, but need not be, a bank. For purposes of Currency
Forex trading, Daily Cutoff shall mean the time selected each Business Day by EXCHANGE after which any Transaction entered into will be considered to have as its trade date the next Business Day. The Daily Cutoff will occur at a time selected solely by EXCHANGE and may vary from day to day. Business Day shall mean, with respect to the United States, any day on which banks are open for business (other than a Saturday or Sunday) in New York City, and with respect to any other country other than the United States, any day on which banks are open for business (other than a Saturday or Sunday) in the principal financial center of the relevant country.
外幣交易（以下稱(chēng)為“貨幣外匯”）在“內部銀行”系統中交易，而并非像商品一樣在受管理的交易所交易。內部銀行系統由相互交換貨幣頭寸的各交易方組成。各交易方可以是銀行，也可以為非銀行。出于貨幣外匯交易的目的，每日截止期應當指每一工作日內A交易所選定的時(shí)間，在此截止期之后登錄的任何交易的交易日都將被認為在下一工作日。每日截止期將為交易所獨立選定的時(shí)間，并且可能每天均有所不同。就美國而言，工作日應當指在紐約，銀行營(yíng)業(yè)的任何一天（非周六或周日）；而就美國之外任何其他國家而言，工作日應當指在該國主要金融中心，銀行營(yíng)業(yè)的任何一天（非周六或周日）。
Capacity. EXCHANGE shall act as a principal and is the counterparty in each Currency Forex contract or transaction with Customer. Customer acknowledges, understands and agrees that EXCHANGE is not acting as a broker, intermediary, agent, advisor or in any fiduciary capacity to Customer in Currency Forex transactions.
 
(a) 身份。交易所應當作為委托人行事，并且在每一貨幣外匯合同或與客戶(hù)的交易中作為交易方?？蛻?hù)承認、了解并同意交易所并未作為客戶(hù)的經(jīng)紀人、中間人、代理、顧問(wèn)或以任何信托人身份在貨幣外匯交易中執行《客戶(hù)協(xié)議》。
 
(b) Prices and Valuations for Currency Forex. Prices and valuations for Currency Forex are set by EXCHANGE and may be different from prices reported elsewhere. EXCHANGE will provide prices to be used in trading, valuations of Customer positions and determination of margin requirements. Although EXCHANGE expects that these prices will
be reasonably related to prices available in the interbank market, prices reported by EXCHANGE may vary from prices available to banks and other counterparties in what is known as the interbank market.
貨幣外匯的價(jià)格和估價(jià)。貨幣外匯的價(jià)格和估價(jià)由交易所規定，并且可能會(huì )與其他地方報告的價(jià)格或估價(jià)不同。交易所會(huì )提供將在交易中使用的價(jià)格、客戶(hù)交易量估價(jià)以及確定保證金要求。盡管交易所期望這些價(jià)格與內部銀行市場(chǎng)上的價(jià)格有合理聯(lián)系，但交易所所報價(jià)格可能與銀行和內部銀行市場(chǎng)上其他訂約方的價(jià)格不同。
 
(c) Settlement Date and Rollovers. With respect to purchases or sales of foreign currencies, Customer agrees to instruct EXCHANGE as to the offset or rollover of a foreign currency position. Except as provided here in, during the term of the Currency Forex position, Customer shall give EXCHANGE instructions for rolling the Currency Forex position not later than two hours prior to the settlement of trading in the relevant foreign currency on the day Customer intends to roll over that foreign currency position. In addition, Customer, by noon of the business day before the settlement day of the contract of the Currency Forex contract, shall instruct EXCHANGE whether to deliver, offset or roll over the Currency Forex position. In the absence of timely instructions from Customer, EXCHANGE is authorized, at EXCHANGE’s sole and absolute discretion, to deliver, roll over or offset all or any portion of the
Currency Forex positions in the Customer ‘s Account and at Customer’s risk. Customer shall be charged separate commissions, at EXCHANGE’s commission rates in effect from time to time, upon the rollover or off set of a Currency Forex position.
(c) 結算日和展期。進(jìn)行外幣購買(mǎi)和出售時(shí)，客戶(hù)同意就外幣頭寸的沖銷(xiāo)和展期給予交易所指示。除非在本協(xié)議中外匯貨幣頭寸條款中有所規定，否則客戶(hù)應當在其打算將外匯貨幣展期當日，有關(guān)貨幣交易結算前至少兩小時(shí)指示交易所對外匯貨幣頭寸進(jìn)行展期。此外，客戶(hù)在外匯貨幣合同結算日前一個(gè)工作日中午之前，應當指示交易所將外匯貨幣頭寸進(jìn)行交割、沖銷(xiāo)或展期。如果客戶(hù)未能及時(shí)指示EXCHANGE有權依其判斷將客戶(hù)賬戶(hù)中的全部或任何一部分外匯貨幣頭寸進(jìn)行交割、沖銷(xiāo)或展期，所有由此產(chǎn)生的風(fēng)險均有客戶(hù)承擔。外匯頭寸進(jìn)行展期或沖銷(xiāo)后，交易所將按照其當時(shí)實(shí)行的傭金費率，向客戶(hù)另收取傭金。
 
(d) Settlement Date Offset Instructions. Offset instructions on open Currency Forex positions must be given to EXCHANGE at least one (1) business day prior to the settlement or value day. Alternatively, sufficient funds to take delivery or the necessary delivery documents to make delivery must be in the possession of EXCHANGE within the time frame set forth above. If no instructions, funds or documents are received by EXCHANGE, then EXCHANGE may, without additional notice to Customer and in EXCHANGE’s sole discretion, take one or a combination of the following actions: offset Customer’s position, roll Customer’s positions into the next settlement time period, make or receive deliver y on behalf of Customer upon such terms and by such methods deemed reasonable by EXCHANGE in its sole discretion.
結算日鎖倉指示?？蛻?hù)必須在結算日或有價(jià)日之前至少一個(gè)工作日前給予交易所沖銷(xiāo)外匯貨幣未了結頭寸的指示；或者在上述時(shí)限內，客戶(hù)必須提供給交易所用于交割的足夠資金或進(jìn)行交割的必要文件。如果交易所未收到任何指示、資金或文件，交易所可以無(wú)需另行通知客戶(hù)，依自己判斷采取下列一項或多項措施：沖銷(xiāo)客戶(hù)的頭寸、將客戶(hù)的頭寸展期至下一結算期、按其認為合理的方式代表客戶(hù)執行交割手續。
 
(e) ) Delivery. Delivery of foreign currency shall be made to the bank specified by the purchaser in a major city in the country in which the foreign currency is the legal tender. Unless otherwise agreed to by EXCHANGE and the Customer in writing, the foreign currency shall be deliverable by cable or wire transfer. All payments to be made in U.S. Dollars shall be made by wire transfer of immediately available funds to a bank in a major U.S. city specified by the purchaser. EXCHANGE will not be responsible for delays or failures in the delivery of any foreign currency within the time specified for the delivery thereof to the extent the failure is caused by a breakdown of communication facilities or by any other cause beyond EXCHANGE’s reasonable control. EXCHANGE may require payment of amounts due to EXCHANGE from Customer on any day to occur simultaneously with or prior to payment of amounts due from EXCHANGE to Customer on that day. EXCHANGE and the Customer shall exchange, make use of, and periodically update and confirm standing payment instructions.
交割。外幣交割必須在買(mǎi)方規定的國家主要城市內的銀行進(jìn)行，并且在該國內，該外幣為法幣。除非交易所和客戶(hù)另有書(shū)面協(xié)議，則應當通過(guò)電匯進(jìn)行交割。所有用美元支付的款項都應當采用立即可提取資金的形式以電匯的方式匯入買(mǎi)方規定的美國主要城市的銀行。對于在規定交割時(shí)間內任何外幣的交割延遲或失敗，如果是由于通訊設備故障或交易所合理控制之外原因造成，交易所將不承擔任何責任。交易所可以要求客戶(hù)在交易所應付客戶(hù)款項到期當日或之前將其應付給交易所的款項付清。EXCHANGE和客戶(hù)應當相互交換、利用、定期更新和確認到期付款指示。
 
(f) Offsetting Transactions. Whenever there may exist in or between any of the Customer’s Accounts two or more open and opposite transactions, EXCHANGE may, in its sole discretion, elect to treat the transactions as a single transaction and upon the value date of the transactions, the net difference between the amounts payable under the transactions, and/or the net difference between the amounts deliverable thereunder, shall be paid to and/or delivered by EXCHANGE, as the case may be.
抵消交易。無(wú)論何時(shí)，只要任何客戶(hù)賬戶(hù)或任何客戶(hù)賬戶(hù)之間存在著(zhù)兩個(gè)或兩個(gè)以上未了結交易或相反交易，則交易所可以依其判斷，選擇在交易結算日將交易作為單筆交易處理，交易應付凈差額和/或應交割凈差額應當支付和/或交割給交易所。
 
(g) Separate Transactions. Each Currency Forex transaction is a separate transaction, even though more than one such transaction may be included on a single confirmation.
單獨交易。每一筆貨幣外匯交易都為單獨一筆交易，即使每次確認包括一筆以上此種交易也是如此。
 
 
8. COLLATERAL 抵押金
All funds, securities, commodities, commodity futures contracts, commodity option contracts, and other property of Customer which EXCHANGE or its affiliates may at any time be carrying for Customer (either individually, jointly with others, or as a guarantor of the account of any other person), or which may at any time be in EXCHANGEs
possession, control, or carried on EXCHANGEs books for any purpose, including safekeeping, are to be held by EXCHANGE as security and subject to a general lien and right of setoff against liabilities of Customer to EXCHANGE whether or not EXCHANGE has made advances in connection with such securities, commodities or other property, and irrespective of the number of accounts Customer may have with EXCHANGE. At any time, EXCHANGE may in its discretion, with or without notice to Customer, apply and/or transfer any or all funds or other property of Customer between any of Customers Accounts. Additionally, Customer hereby grants to EXCHANGE the right to pledge, re-
pledge, hypothecate, sell or purchase, invest or loan, either separately or with the property of other Customers, to itself as broker or to others, as securities or other property of Customer held by EXCHANGE as margin or security. The value of any such collateral shall be determined by EXCHANGE in its sole discretion and based upon what
EXCHANGE would receive if EXCHANGE sold the relevant collateral for immediate delivery. EXCHANGE shall at no time be required to deliver to Customer the identical property delivered to or purchased by EXCHANGE for any account of Customer. The Customer agrees to maintain at all times with EXCHANGE collateral in such form and in such amount as EXCHANGE may from time to time request orally or in writing. In all cases, collateral shall be deemed received by EXCHANGE when such collateral is actually received by EXCHANGE. The rights of EXCHANGE are subject to the applicable requirements for the segregation of Customer funds and property under the Commodity Exchange Act, as amended (the “Act”).
交易所或其分支機構在任何時(shí)候為客戶(hù)代理（單獨或與他人共同，或者作為任何其他人帳戶(hù)的擔保人）的或者交易所在任何時(shí)候持有、控制或出于任何目的在交易所帳面上的所有客戶(hù)資金、證券、商品、商品期貨合同、商品期權合同以及其他資產(chǎn)，包括交易所為客戶(hù)保管的所有客戶(hù)資金、證券、商品、商品期貨合同、商品期權合同以及其他財產(chǎn)，交易所都可作為保證金持有，可以行使留置權，并且有權用于抵消客戶(hù)所欠交易所債務(wù)；而無(wú)論EXCHANGE是否已經(jīng)支付了有關(guān)證券、商品或其他財產(chǎn)的預付款，也不論客戶(hù)在EXCHANGE擁有多少個(gè)賬戶(hù)，交易所可以隨時(shí)依其判斷，在通知或不通知客戶(hù)的情況下，將客戶(hù)的全部或任何資金或其他資產(chǎn)使用和/或在任何客戶(hù)賬戶(hù)間劃撥。此外，客戶(hù)特此授權交易所將后者持有作為保證金的上述資金或財產(chǎn)單獨或與其他客戶(hù)的財產(chǎn)一起，進(jìn)行抵押、再次抵押、擔保、出售或購買(mǎi)、投資或借出給作為經(jīng)紀人的交易所或者其他人。任何上述抵押財產(chǎn)的價(jià)值都由交易所依其判斷并且依據如交易所將其出售進(jìn)行直接交割所獲收入而確定。任何時(shí)候，客戶(hù)無(wú)論出于任何理由，都不應要求交易所將已經(jīng)交割給交易所或交易所已經(jīng)購買(mǎi)的同一資產(chǎn)再交割給客戶(hù)?？蛻?hù)同意與交易所之間總是保持EXCHANGE口頭或書(shū)面要求形式和數額的抵押金。在任何情況下，交易所實(shí)際收到抵押金后，應當被認為已經(jīng)收到抵押金。交易所的上述權利符合《商品交易法》或其修訂后版本有關(guān)客戶(hù)資金和財產(chǎn)獨立的適用要求。
 
9. LENDING AGREEMENT借款協(xié)議
The purpose of the Lending Agreement is to allow EXCHANGE to use warehouse receipts (representing delivery) as collateral. Should Customer take delivery of commodities through futures contracts, EXCHANGE is obliged to make full payment for the delivery on 24 hours notice. If the balance in the Customers Account is not adequate to pay for the delivery, the warehouse receipts become property carried on margin in the Customers Account, since the commodity is not fully paid for by Customer. The Lending Agreement allows EXCHANGE to use the warehouse receipt as collateral for a bank loan, the proceeds of which are used to pay for the warehouse receipts until re-delivery of the commodity and/or payment in full by Customer. Should Customer intend to take delivery of the underlying commodity covered by any futures contract, EXCHANGE requires the Customer to sign the Lending Agreement so it may use the commodities, property, warehouse receipts or evidence of ownership thereof, as collateral for a bank loan, the proceeds of which may be used to pay for the commodities, or evidence of ownership thereof, until payment in full, including interest, is made by Customer. This authorization shall apply to all accounts carried by EXCHANGE for Customer and shall remain in full force until all accounts are fully paid for by Customer or
until notice of revocation is sent by EXCHANGE from EXCHANGEs principal place of business.
《借款協(xié)議》的目的是使交易所使用倉庫收據（代表交割）作為抵押。如果客戶(hù)通過(guò)期貨合同進(jìn)行商品交割，交易所有義務(wù)在收到通知24小時(shí)內為交割付款。如果客戶(hù)賬戶(hù)的余額不足以支付交割，因為客戶(hù)并沒(méi)有為全部商品付款，倉庫收據就成為客戶(hù)賬戶(hù)中的保證金資產(chǎn)?！督杩顓f(xié)議》使交易所可以將倉庫收據作為抵押，向銀行借款，借來(lái)的款項用于支付倉庫收據，直到商品重新交割和/或客戶(hù)付清全部款項。如果客戶(hù)打算對任何期貨合同的基礎商品進(jìn)行交割，交易所會(huì )要求客戶(hù)簽署一份《借款協(xié)議》，這樣交易所就可以使用商品、資產(chǎn)、倉庫收據或所有權證明作為抵押向銀行借款，借來(lái)的款項可以用來(lái)支付商品或商品所有權證明，直到客戶(hù)付清全部款項，包括利息。此項授權應當適用于交易所為客戶(hù)設立的所有帳戶(hù)，并且在客戶(hù)付清所有賬戶(hù)前或交易所從其主要營(yíng)業(yè)地發(fā)送撤消通知前一直具有完全效力。
 
10. LIQUIDATION OF ACCOUNTS清算賬戶(hù)
In the event of
 (a) the death or judicial declaration of incompetence of Customer;
(b) the filing of a petition in bankruptcy, a petition for the appointment of a receiver, or the institution of any insolvency or similar proceeding by or against Customer;
(c) the filing of an attachment against any of Customers Accounts carried by EXCHANGE; (d) Customers failure to maintain sufficient margin; or
(e) EXCHANGEs determination, regardless of current market quotations, that any collateral deposited to protect one or more accounts of Customer is inadequate to secure the
account;
(f) Customers failure to provide EXCHANGE any information requested pursuant to this Agreement;
 (g) Customers failure to pay any amount due to EXCHANGE; or
(h) any other circumstances or developments that
EXCHANGE deems appropriate for its protection, EXCHANGE, in its sole discretion, may take one or more, or any portion of the following actions:
 (1) satisfy any obligation Customer may have to EXCHANGE either directly or by way of guaranty or suretyship out of any of Customers funds or property in EXCHANGEs custody or control;
(2) liquidate Customers positions by offsetting any or all commodity futures contracts, futures options, commodities, securities, or securities options held or carried for Customer; and/or
 (3) cancel any or all outstanding orders or contracts, or any other commitments made on behalf of Customer.
Any of the above actions may be taken without demand for margin or additional margin, without prior notice of sale or purchase or other notice to Customer, Customers personal representatives, heirs, executors, administrators, trustees, legatees, or assigns, and regardless of whether the ownership interest shall be solely Customers or held jointly with others. In liquidation of Customers positions, EXCHANGE may, in its sole discretion, offset in the same contract month or it may initiate new long or short positions in order to establish a spread or straddle which in EXCHANGEs sole judgment may be advisable to protect or reduce existing positions in Customers Account. According to EXCHANGEs sole judgment and discretion, any sales or purchases hereunder may be made on any exchange or other markets where such business is then usually transacted or at a public auction or private sale, and EXCHANGE may purchase the whole or any part thereof free from any right of redemption.
當下列事項發(fā)生時(shí)
（a）客戶(hù)死亡或被法院宣布無(wú)適當行為能力；
（b）客戶(hù)向法院申請破產(chǎn)，申請認命接
收人或組織任何針對客戶(hù)的破產(chǎn)或類(lèi)似程序；
（c）交易所開(kāi)設的任何客戶(hù)帳戶(hù)被法院扣押；
（d）客戶(hù)未能保有足夠的保證金；
（e）不論當前市場(chǎng)報價(jià)如何，交易所認定存于賬戶(hù)中用于保護一個(gè)或多個(gè)客戶(hù)賬戶(hù)的任何抵押金不足以保護賬戶(hù)的安全；（
f）客戶(hù)沒(méi)有按本協(xié)議的規定提供交易所要求的任何信息；
(g) 客戶(hù)沒(méi)有向交易所支付任何到期款項；(h) 出現交易所認為應當進(jìn)行保護的任何其他情況或局面；交易所依其判斷，可以采取下列之一或多項措施：
（1）直接或者通過(guò)將客戶(hù)在交易所處保管或由交易所控制的客戶(hù)資金或資產(chǎn)抵押或擔保出去，履行客戶(hù)對于交易所的任何義務(wù)；
（2）通過(guò)沖銷(xiāo)為客戶(hù)持有或保管的任何或全部商品期貨合同、期貨期權、商品、證券或證券期權清算客戶(hù)頭寸；以及/或
（3）取消任何未執行訂單、合同或代表客戶(hù)做出的任何其他承諾。無(wú)論所有權權益是否為客戶(hù)獨有還是與其他人共有，交易所都可以在沒(méi)有保證金要求或額外保證金要求，以及沒(méi)有事先給客戶(hù)、客戶(hù)的個(gè)人代表、繼承人、執行人、管理者、受托人、受贈人或受讓人購買(mǎi)或出售通知或者其他通知的情況下采取上述任何措施。清算客戶(hù)的頭寸時(shí)，交易所可以依其判斷，在同一合同月內鎖倉或者還可以開(kāi)多頭或空頭頭寸，以便獲得依交易所判斷可以保護客戶(hù)賬戶(hù)或減少現有頭寸的差額或買(mǎi)賣(mài)選擇權的價(jià)差或跨式期權組合。根據交易所的判斷，任何購買(mǎi)或出售都可以在其時(shí)此類(lèi)交易通常所在的任何交易所或其他市場(chǎng)上進(jìn)行，或者在公開(kāi)拍賣(mài)或非公開(kāi)出售中進(jìn)行，并且交易所可以購買(mǎi)全部或任何部分，并且這些資產(chǎn)沒(méi)
有贖買(mǎi)權。
 
11. PAYMENT OF DEFICIT BALANCES 差額補償
Customer recognizes that EXCHANGE is financially liable to the clearing members through which EXCHANGE clears transactions for deficit balances occurring in Customers Accounts. Customer therefore agrees that Customer shall at all times be liable for the payment of any deficit balance occurring in Customers Account including any deficiency balance remaining in Customers Account(s) in the event of the liquidation thereof in whole or in part by EXCHANGE or by Customer. Customer agrees to hold EXCHANGE harmless, and indemnify and defend EXCHANGE from and against any and all losses sustained by EXCHANGE resulting from any deficit balances that may occur in Customers
Account. In the event the proceeds realized from liquidation of Customers Account are insufficient for the payment of all liabilities of Customer due to EXCHANGE, Customer shall promptly pay upon demand, the deficit and all unpaid liabilities, together with interest thereon equal to three (3) percentage points above the then prevailing prime rate at EXCHANGEs principal bank or the maximum interest rate allowed by law, whichever is lower, and all costs of collection, including attor-neys fees, witness fees, travel expenses and the like. In the event EXCHANGE incurs expenses other than for the collection of deficits, with respect to any of the account(s) of Customer, Customer also agrees to pay such expenses.
客戶(hù)承認：交易所在財務(wù)上對于結算會(huì )員負有義務(wù)。交易所通過(guò)各結算會(huì )員對交易進(jìn)行結算，計算客戶(hù)賬戶(hù)中出現的差額?？蛻?hù)因此同意：客戶(hù)應始終對發(fā)生在客戶(hù)賬戶(hù)中的任何差額負有支付義務(wù)，包括交易所或客戶(hù)進(jìn)行全部或部分清算時(shí)客戶(hù)賬戶(hù)中仍存在的差額?？蛻?hù)同意交易所不承擔任何義務(wù)，并且免除、保護交易所不受任何和全部因客戶(hù)賬戶(hù)中發(fā)生的任何差額而遭受的損失的損害。如果對客戶(hù)賬戶(hù)進(jìn)行清算，余額不足以支付客戶(hù)所欠交易所的所有債務(wù)，客戶(hù)接到要求后應當立即支付差額和所有未付款以及利息（交易所的關(guān)系銀行最低貸款利率加三個(gè)百分點(diǎn)，或法律許可的最高利率，以?xún)烧咻^低的為準）和所有收款成本，包括律師費用、證人費用、差旅費等類(lèi)似費用。對于交易所非因收取客戶(hù)任何賬戶(hù)中的差額而產(chǎn)生的費用，客戶(hù)也同意償付。
 
12. DELIVERY MONTH LIQUIDATION INSTRUCTIONS 月清算指示
Liquidation instructions on open futures positions maturing in a current futures month must be given to EXCHANGE at least five (5) business days prior to the first notice day in the case of long positions, and at least seven (7) business days prior to the last trading day in the case of short positions. Alternatively, sufficient funds to take delivery or the necessary delivery documents must be in EXCHANGEs possession within the same periods described above. If instructions, funds or documents are not received, EXCHANGE may, without notice to Customer, either liquidate
Customers position or make delivery or receive delivery on Customers behalf on such terms, conditions and by such methods as EXCHANGE deems reasonable, in its sole discretion, and Customer agrees to remain liable for all costs, expenses or debit balances incurred in connection therewith.
對于當前期貨月到期的未了結期貨寸頭，出現多頭頭寸時(shí)，必須在首個(gè)通知日前至少五個(gè)工作日給予交易所清算指示；出現空頭頭寸時(shí)，必須在最后一個(gè)交易日之前至少七個(gè)工作日通知交易所?；蛘咴谏鲜鰰r(shí)間范圍內必須提供給交易所足夠的資金進(jìn)行交割或者交割所必須的文件。如果交易所未收到任何指示、資金或文件，交易所可以無(wú)需另行通知客戶(hù)，依自己判斷，按其認為合理的方式，將客戶(hù)的頭寸清算、進(jìn)行交割或代表客戶(hù)執行交割手續?？蛻?hù)同意：對于所有相關(guān)成本、花費或差額，客戶(hù)仍將負有義務(wù)。
 
13. CHARGES 收費
Customer agrees to pay such commission rates as EXCHANGE may from time to time charge, as well as all other costs and fees (including, without limitations, fees imposed by the National Futures Association, exchanges or other regulatory or self-regulatory organizations) arising out of EXCHANGEs provision of services hereunder. EXCHANGE
may change its commissions, charges, and/or fees without notice. Customer agrees to pay all such charges as they are incurred. Customer hereby authorizes EXCHANGE to withdraw the amount of any such charges from Customers Account(s). In the event Customer instructs EXCHANGE to transfer open positions, monies, and/or property
from Customers Account to another futures commission merchant, Customer agrees to pay a transfer fee, to be designated by EXCHANGE.
客戶(hù)同意按照交易所規定的費率支付傭金以及所有其他因交易所提供服務(wù)而產(chǎn)生的成本和費用（包括但不僅限于美國期貨協(xié)會(huì )、交易或其他管理或自律部門(mén)規定的限額和收取的費用）。交易所可以更改自己收取的傭金、收費和/或費用，而無(wú)須通知客戶(hù)?？蛻?hù)同意支付交易所承擔的所有上述花費?？蛻?hù)特此授權交易所可以從客戶(hù)賬戶(hù)中支取上述任何費用。如果客戶(hù)指示交易所從客戶(hù)賬戶(hù)中劃撥未了結寸頭、款項和/或資產(chǎn)給另一期貨經(jīng)紀商，客戶(hù)同意支付交易所規定的劃撥費用。
 
Customer specifically agrees that, after any Account subject to this Agreement has been dormant for a period of three calendar months, as defined by the unclaimed property laws and regulations of the relevant jurisdiction(s) to which such Account is subject, such Account shall thereafter be subject to a monthly administration fee for each subsequent month during which such dormancy continues without interruption. Such monthly administration fee shall be equal to 1.75% of the liquidation value of such Account (rounded up to the nearest multiple of $10.00) or the maximum amount permitted by applicable law, whichever is less. Except as required by law, Customer shall not be entitled to a refund of any such monthly administration fee for any reason.
客戶(hù)特別同意：如果本協(xié)議規定的任何賬戶(hù)在三個(gè)日歷月內為靜止狀態(tài)，根據此類(lèi)賬戶(hù)所受有關(guān)司法轄區有關(guān)無(wú)主張資產(chǎn)的法律和法規，此帳戶(hù)在以后為連續靜止狀態(tài)的各月應當收取月管理費。該月管理費應當相當于此賬戶(hù)清算價(jià)值的1.75%（為$10.00的最小倍數），或者適用法律規定的最大額，以?xún)烧咻^少的為準。除非法律有所要求，否則客戶(hù)無(wú)權以任何理由要求退還任何上述月管理費。
 
 14. STATEMENTS AND CONFIRMATIONS 對帳單和確認函
Customer understands that Customer must carefully review the reports relating to Customers trading sent by EXCHANGE. Customer must review and report immediately errors on confirmations and statements. Failure to notify EXCHANGE immediately of any error or omission will bind Customer to the terms of such confirmation or statement,
as the case may be. All repor ts of execution shall be deemed final within twenty-four (24) hours and all statements of account will be deemed final within three (3) days, unless Customer objects to these repor ts within these periods of time to an executive officer of EXCHANGE at EXCHANGEs principal place of business.
客戶(hù)了解：客戶(hù)必須仔細閱讀交易所發(fā)送來(lái)的有關(guān)客戶(hù)交易的報告?？蛻?hù)必須閱讀并立即報告確認函和對帳單中的錯誤。如果客戶(hù)未能立即通知交易所任何錯誤或遺漏，則客戶(hù)將必須遵守確認函和對帳單中的條款。所有執行報告在(24)小時(shí)之內都將被認為是最終執行報告，并且所有對帳單在(三)日內被認為是最終對帳單，除非客戶(hù)在上述時(shí)間范圍內向交易所主要營(yíng)業(yè)地的執行官員提出反對意見(jiàn)。
 
Margin calls shall be conclusive and binding unless objected to immediately by telephone or by wire. Written objections on Customer’s part shall be directed to EXCHANGE’s Compliance Department at 311W.Monroe St., Suite 1300, Chicago, IL 60606 and shall be deemed received only if actually delivered or mailed by registered mail, return receipt requested. Customer’s failure to receive a trade confirmation or statement of accounts shall not relieve Customer of the obligation to object as set out herein. Failure to object to statements and confirmation shall be deemed ratification of all actions taken by EXCHANGE or EXCHANGE’s agents.
除非客戶(hù)立即通過(guò)電話(huà)或電傳提出異議，否則保證金要求為決定性要求，并且具有法律效力?？蛻?hù)的書(shū)面反對應當送至伊利諾州芝加哥市Monroe街311號交易所監察部（60606），并且只有通過(guò)實(shí)際送交或要求回執的掛號信函郵寄方可被認為受到?？蛻?hù)未收到交易確認函或對帳單并不能免除客戶(hù)上述提出異議的義務(wù)?？蛻?hù)如未提出異議，則將被認為已經(jīng)批準了交易所或其代理的全部行為。
 
Unless Customer indicated otherwise in Paragraph 19 of the Account Application, Customer hereby authorizes EXCHANGE to deliver correspondence and other communications including, but not limited to trade confirmations, daily statements, monthly statements, margin and maintenance calls, and other documents required to be delivered in connection with Customers account. Customer agrees that the sending by EXCHANGE of an e-mail to the e-mail address of record shall constitute good and effective delivery to Customer of the communication whether or not Customer actually access the communication. Customer may revoke his consent to electronic delivery of documents at any time upon written notice to EXCHANGE. It is the customer’s responsibility and obligation to notify EXCHANGE of any change of mailing and/or electronic address.
除非客戶(hù)在賬戶(hù)申請第19段另有說(shuō)明，否則客戶(hù)特此授權交易所將通信和其他聯(lián)絡(luò )（包括但不僅限于交易確認函、日對帳單、月對帳單、保證金通知、維持保證金通知和其他要求遞送的與客戶(hù)賬戶(hù)有關(guān)的文件）?？蛻?hù)同意交易所發(fā)送電子郵件到記錄的電子郵件地址，將構成已經(jīng)正當有效地將通信聯(lián)絡(luò )發(fā)送給客戶(hù)?？蛻?hù)可以隨時(shí)書(shū)面通知交易所，不再同意采用電子形式發(fā)送文件?？蛻?hù)有責任和義務(wù)通知交易所有關(guān)郵件和/或電子郵件地址的變動(dòng)信息。
 
 Customer agrees that written statements shall supersede all electronic information and the written statements shall be controlling.
客戶(hù)同意：書(shū)面對帳單將取代所有電子對帳單，并且應當以書(shū)面對帳單為準。
 
 15. COMMUNICATIONS 通信
Reports, statements, notices and any other communications may be transmitted to Customer at the address given above or to such other address as Customer may from time to time designate in writing to EXCHANGE. All communications so sent, whether by mail, telegraph, messenger or when received by a transmitting agent, and deemed transmitted by EXCHANGE when deposited in the United States mail, or when received by a transmitting agent, and deemed delivered to Customer personally, whether actually received by Customer or not.
報告、報表、通知或其他通信將按照上述地址投送給客戶(hù)，客戶(hù)也可以隨時(shí)給交易所寫(xiě)信，指定投送地址。以此方式進(jìn)行的通信，不管是通過(guò)郵件、電報、郵遞員或其他方式，只要委托給了美國郵政系統，或者被某個(gè)代理人接收，應被視為已由交易所發(fā)送，并且交到客戶(hù)本人手中，不管客戶(hù)是否真的收到。
 
EXCHANGE will not be responsible for delays in transmission of orders due to breakdown, excessive call volume or failure of transmission or communication systems or facilities, or for any other cause or causes beyond EXCHANGE’s reasonable control or anticipation.
對于因傳輸或通信系統或設施中斷、繁忙或故障，以及任何超交易所控制或預計范圍的原因造成的指令傳輸的延遲，交易所將不負責任。
 
16. DISCLAIMER OF WARRANTIES 免責聲明
Neither EXCHANGE nor its agents make any representations or warranties to Customer, express or implied, with respect to the electronic order system, or the transmission, timeliness, accuracy or completeness thereof, including, without limitation, any implied warranties or any warranties of merchantability, quality or fitness for a particular purpose, and those arising by statute or other wise in law or from any course of dealing or usage.
交易所及其代理人都不會(huì )對客戶(hù)就電子指令系統及其傳輸、及時(shí)性、準確性和完整性，做出任何明示或默示的陳述或保證，包括，且不限于，任何關(guān)于適銷(xiāo)性，質(zhì)量或者適合某一特定目標的默示或非默示的保證，以及那些來(lái)源于法令、法律或者交易及使用的任何階段的保證。
 
17. LIMITATION OF LIABILITY 責任限制
Customer agrees that in no event will EXCHANGE be liable to Customer for the accuracy, interruption, delay, completeness, timeliness, or correct sequencing of the information received through Customer’s use of BESTDirect. or for any interruption of any data, information, or accessibility to BESTDirect.. Further, EXCHANGE shall not be held responsible for any delay or failure to provide BESTDirect. service, including the execution of any order. Under no circumstances shall EXCHANGE or its agents be liable for any indirect, incidental, special or consequential loss or damages, including loss of business or profits or goodwill, that result from Customer’s use, attempted use, or inability to use BESTDirect..
客戶(hù)同意在任何情況下，交易所都不對客戶(hù)通過(guò)使用BESTDirect. 接收的信息的準確性、中斷、延遲、完整性、及時(shí)性和正確的排序負責，也不對任何數據、信息的中斷和BESTDirect. 的可連接性負責。而且，交易所不應為提供BESTDirect.服務(wù)--包括執行任何指令--的任何延時(shí)或者失敗負責。 不管在任何情況下，交易所及其代理人都不應該為客戶(hù)因使用、試圖使用或未能使用BESTDirect. 而導致的任何間接的、偶然的、特定的損失—包括業(yè)務(wù)或利潤或聲譽(yù)的損失負責。
 
18. EXTRAORDINARY EVENTS 非常事件
EXCHANGE shall not be liable for losses caused directly or indirectly by government restrictions, exchange or market actions, suspension of trading, war, strikes, or for delays in the trans mission of orders due to breakdown or failure of transmission or communication facilities, or as a result of any other causes beyond EXCHANGE’s control or anticipation.
交易所不應為因政府限制、交易所或市場(chǎng)行為、貿易中斷、戰爭、罷工而直接或間接導致的損失負責，或為因傳輸或通信設施中斷或故障，以及任何超出交易所控制或預計的其他原因導致的指令傳輸延遲負責。
 
Without limiting the generality of the foregoing, EXCHANGE shall not be liable for any loss, liability, expense, fine or tax caused directly or indirectly by any (i) governmental, judicial, exchange or other self-regulatory organization action or order, (ii) suspension or termination of trading,(iii) break down or failure of transmission or communication facilities, or (iv) failure or delay by any exchange to enforce its rules or to pay or return any amounts owed to EXCHANGE with respect to any transactions or contracts executed and/or cleared for Customer’s account(s)
with EXCHANGE. In no event shall EXCHANGE be liable for consequential, incidental or special damages.
在不限制上述各條款的普遍適用性的前提下，交易所不應該為任何因（i）政府、司法、交易所或其他自我管制組織的行為或命令，（ii）貿易的中止或中斷，（iii）傳輸或通信設施的中斷或故障，或者（iv）任何交易所未能或未能及時(shí)實(shí)施其制度，未能或未能及時(shí)支付或返還由于為客戶(hù)的交易所帳戶(hù)執行和/或清償交易或合約而拖欠交易所的金額而直接或間接導致的任何損失、負債、支出、罰款或稅務(wù)負責。在任何情況下，交易所都不應為間接的、偶然的或特定的損失負責。
 
19. CURRENCY FLUCTUATION RISK 幣值波動(dòng)風(fēng)險
 
If Customer directs EXCHANGE to enter into any commodity futures or commodity option on futures contract and such transaction is to be effected in a foreign currency: (a) any profit or loss arising as a result of a fluctuation in the exchange rate affecting such currency will be entirely for Customer ‘s Account and Customer’s risk; (b) all initial and subsequent deposits for margin purposes shall be made in U.S. dollars, in such amounts as EXCHANGE may in its sole discretion require; and (c) EXCHANGE is authorized to convert funds in Customer’s Account into and from such
foreign currency at a rate of exchange on the basis of the then prevailing money market rates as determined by EXCHANGE in its sole discretion.
如果客戶(hù)指示交易所進(jìn)入任何商品期貨或者期貨合約的商品期權，并且此交易將以某種外匯實(shí)現：（a）任何影響此種貨幣的匯率波動(dòng)帶來(lái)的利潤或損失將全部歸客戶(hù)的帳戶(hù)，并全部由客戶(hù)承擔風(fēng)險，（b）所有最初的和隨后的出于保證金的目的存款應該為美元，金額完全根據交易所自己的判斷作出要求，（c）交易所有權將客戶(hù)帳戶(hù)中的資金根據當時(shí)主要的貨幣市場(chǎng)的匯率兌換為此種貨幣或從此種貨幣兌換。以何種貨幣市場(chǎng)匯率為依據則完全由交易所的判斷決定。
 
20. CUSTOMER’S ACKNOWLEDGEMENTS 客戶(hù)確認
Customer acknowledges that investment in commodity futures contracts and commodity options on futures is speculative, involves a high degree of risk and is appropriate only for persons who can assume risk of loss in excess of their margin deposit. Customer understands that because of the low margin normally required in commodity
futures trading, price changes in commodity futures contracts may result in significant losses, which losses may substantially exceed Customer’s investment and margin deposit. Customer warrants that Customer is willing and able, financially and other wise, to assume the risk of trading Commodities, and in consideration of EXCHANGE’s carrying Customer’s Account(s) Customer agrees not to hold EXCHANGE responsible for losses incurred through following EXCHANGE’s trading recommendations or suggestions or those of EXCHANGE’s employees, agents or representatives. Customer recognizes that guarantees of profit or freedom from loss are impossible in commodity
trading. Customer acknowledges that Customer has received no such guarantees from EXCHANGE or from any of EXCHANGE’s representatives or any introducing broker or other entity with whom Customer is conducting business in Customer’s Account and has not entered into this Agreement in consideration of or in reliance upon any such guarantees or similar representations. Further Customer acknowledges that Customer has relied only on the terms and representations contained in this Agreement in formulating Customer’s decision to open an account with EXCHANGE.
客戶(hù)確認投資于商品期貨合約和期貨的商品期權是投機性的，具有高風(fēng)險性，只適合于那些能夠承擔超出他們保證金的損失風(fēng)險的人?？蛻?hù)知道因為商品期貨貿易要求的保證金通常比較低，商品期貨合約中的價(jià)格變動(dòng)可能會(huì )導致重大損失，這種損失可能會(huì )遠遠超過(guò)客戶(hù)的投資和保證金?？蛻?hù)保證：在經(jīng)濟方面和其他方面，客戶(hù)愿意而且能夠承擔交易商品的風(fēng)險。由于交易所持有客戶(hù)的帳戶(hù)，客戶(hù)同意不會(huì )因為遵循交易所及其雇員、代理人或代表的交易建議和意見(jiàn)而要求交易所為客戶(hù)的損失負責?？蛻?hù)認識到在商品交易中，保證賺取利潤或避免損失是不可能的?？蛻?hù)確認客戶(hù)沒(méi)有從交易所，或者任何交易所的代表，或者任何中介經(jīng)紀人，或者客戶(hù)與之在客戶(hù)帳戶(hù)中從事業(yè)務(wù)的其他實(shí)體那里得到任何這樣的保證?？蛻?hù)不是因為出于此類(lèi)保證或類(lèi)似陳述的考慮或信賴(lài)此類(lèi)保證或類(lèi)似陳述而簽定這份合約。另外，客戶(hù)確認客戶(hù)作出決定在交易所開(kāi)帳戶(hù)時(shí)，只依賴(lài)本合約中所包含的條款和陳述。
 
Customer acknowledges that Customer has been advised and understands the following factors concerning trading Commodities, in addition to those contained in the CFTC Required Risk Disclosure Statement and Disclosure Statement for Non-Cash Margin, that have been provided to Customer. Customer further acknowledges that the purchase or sale of a futures contract always anticipates the accepting or making of delivery.
客戶(hù)確認客戶(hù)已經(jīng)得到建議，并理解下列關(guān)于交易商品、以及商品期貨交易委員會(huì )（CFTC）的《必要的風(fēng)險披露聲明》和《非現金保證金披露聲明》中包含的（這些已經(jīng)提供給了客戶(hù)）下列要素?？蛻?hù)還確認購買(mǎi)或出售一份期貨合約總是期待著(zhù)接受或作出財產(chǎn)移交。
 
EXCHANGE is not a member of the Securities Investor Protection Corporation (“SIPC”), therefore, Customer’s account is not entitled to SIPC protection. Customer acknowledges that Customer’s Accounts at EXCHANGE are neithersecurities accounts protected under SIPC nor bank accounts protected by the FDIC.
交易所不是證券投資者保護公司（SIPC）的成員，因此客戶(hù)的帳戶(hù)不受SIPC的保護?？蛻?hù)確認客戶(hù)在交易所的帳戶(hù)及不是受SIPC保護的證券帳戶(hù)也不是受聯(lián)邦存款保險公司（FDIC）保護的銀行帳戶(hù)。
 
Customer acknowledges that the accuracy, completeness, timeliness, and correct sequencing of the real-time information concerning Customer’s trading and account activity, the quotes, market news, charts, trading analysis and strategies are not guaranteed by EXCHANGE or EXCHANGE’s information providers. Customer understands that
some of the information available through BEST Direct may be supplied by various independent sources. While EXCHANGE believes that these independent sources are reliable, EXCHANGE does not guarantee the accuracy, completeness, timeliness, non-interruption, or sequencing of any information supplied. Further, the information provided may be the property of the party who sup plies such and may be protected by copyright; therefore, any reproduction, transmittal, dissemination or distribution of the information in any form or manner is prohibited without the express written consent of EXCHANGE.
客戶(hù)確認交易所或交易所的信息供應商不保證有關(guān)客戶(hù)交易和帳戶(hù)活動(dòng)、報價(jià)、市場(chǎng)新聞、圖表、交易分析和策略的實(shí)時(shí)信息的準確性、完整性、及時(shí)性和正確排序客戶(hù)知道通過(guò)BEST Direct獲得的一些信息可能由各種獨立的來(lái)源提供。 盡管交易所相信這些獨立來(lái)源是可靠的，但是交易所不保證任何提供的信息的準確性、完整性、及時(shí)性、不中斷性或者排序。另外，所提供的信息可能是提供方的財產(chǎn)而受到版權的保護。因此，沒(méi)有交易所明確的書(shū)面同意，禁止對這些信息以任何方式進(jìn)行復制、傳輸、傳播和分發(fā)。
 
Customer further acknowledges that from time to time, and for any reason BESTDirect. may not be operational or otherwise available for Customer’s use due to servicing, hard ware malfunction, software defect, service or transmission interruption or other cause, and Customer agrees to hold EXCHANGE and its agents harmless from liability or any damage which results from the unavailability of BESTDirect.. Customer acknowledges that Customer has alternative arrangements, which will remain in place for the transmission and/or execution of Customer’s orders, by telephone, facsimile transmission or otherwise, in the event, for any reason, circumstances prevent the transmission and/or execution of all, or any portion of, Customer’s orders through BESTDirect.. In the event that BESTDirect. is not operational, Customer agrees to contact Customer’s broker at EXCHANGE to make alternative order entry arrangements.
客戶(hù)還確認有時(shí)，因為某種原因，BEST Direct可能會(huì )因為服務(wù)、硬件故障、軟件缺陷、服務(wù)或傳輸的中斷等原因不能工作，或者客戶(hù)無(wú)法使用，客戶(hù)同意免于使EXCHANGE及其代理人因BESTDirect.無(wú)法使用而承擔法律責任?？蛻?hù)確認當由于某種原因，客觀(guān)情況不允許通過(guò)BESTDirect. 傳輸和/或執行全部或部分客戶(hù)指令時(shí)，客戶(hù)在利用電話(huà)、傳真或其他方式傳輸和/或執行客戶(hù)指令方面有多種安排。在BESTDirect. 不能工作的情況下，客戶(hù)同意與EXCHANGE的客戶(hù)經(jīng)紀人聯(lián)系，進(jìn)行其他指令進(jìn)入安排。
 
Customer further acknowledges that there is risk associated with Currency Forex trading. If trading liquidity decreases, trading in a certain foreign currency may cease, thereby pre venting the liquidation of an adverse position, which may result in a substantial financial loss. Additionally, there are no guarantees to the credit worthiness of the counterparty 交易所 utilizes for Customer’s Currency Forex position. If Customer directs 交易所 to enter into any Currency Forex contract: (a) any profit or loss arising as a result of a fluctuation in the exchange rate affecting such currency will be entirely for Customer’s Account and Customer’s risk; and (b) all initial and subsequent deposits for margin purposes shall be made in U.S. dollars, in such amounts as 交易所 may, in its sole discretion, require.
另外，客戶(hù)確認貨幣匯率交易有風(fēng)險。如果交易流動(dòng)性降低的話(huà)，某種外匯的交易可能減少，從而防止將不利的頭寸清算，這可能會(huì )導致重大的經(jīng)濟損失。另外，對于EXCHANGE為客戶(hù)的貨幣外匯頭寸使用的對手的信譽(yù)度不會(huì )做出任何保證。如果客戶(hù)指示EXCHANGE處理某貨幣外匯合約：（a）任何影響此種貨幣的匯率波動(dòng)帶來(lái)的利潤或損失將全部歸客戶(hù)的帳戶(hù)，并全部由客戶(hù)承擔風(fēng)險，（b）所有最初的和隨后的出于保證金的目的存款應該為美元，金額完全根據EXCHANGE自己的判斷作出要求。
 
If Customer trades through the Forex market, Customer may not be afforded certainty of the protective measures provided by any domestic futures exchange, including the right to arbitrate Customers dispute with the counterparty. For additional risk factors associated with Currency Forex, Customer should refer to the Currency Forex Risk Disclosure Statement, a copy of which has been provided to Customer.
如果客戶(hù)通過(guò)外匯市場(chǎng)交易，客戶(hù)不一定能得到國內期貨交易所提供的保護措施，包括仲裁客戶(hù)與其對手之間爭端的權利。對于貨幣外匯的其他風(fēng)險因素，客戶(hù)應該參閱《貨幣外匯風(fēng)險披露聲明》，我們已經(jīng)向客戶(hù)提供了一個(gè)副本。
 
If Customers Account is introduced by an IB or by a CTA, it is being carried on EXCHANGEs books on a “fully disclosed basis.” Customer understands that EXCHANGE is employed to perform certain bookkeeping and operational functions with regard to Customers Account. Customer understands that EXCHANGE is responsible for executing and confirming transactions effected for Customers Account; segregating funds in accordance with the rules and regulations promulgated by the CFTC; margining Customers Account and collecting funds on Customers behalf by means of checks payable to EXCHANGE only. Customer agrees to indemnify EXCHANGE and hold harmless EXCHANGE
from and against all damages or liability arising from the conduct of Customers IB or CTA.
如果客戶(hù)帳戶(hù)是由某中介經(jīng)紀人（IB）或者商品交易顧問(wèn)（CTA）介紹的，它在EXCHANGE的簿冊里在“完全披露的基礎上”持有?？蛻?hù)知道交易所受雇實(shí)施某種與客戶(hù)帳戶(hù)相關(guān)的簿記和操作功能?？蛻?hù)知道交易所負責實(shí)施和確認客戶(hù)帳戶(hù)進(jìn)行的交易，按照商品期貨交易委員會(huì )（CFTC）發(fā)布的規章制度分離資金，通過(guò)只可向交易所支付的支票代表客戶(hù)為客戶(hù)帳戶(hù)添加保證金和收款?？蛻?hù)同意對于因客戶(hù)的中介經(jīng)紀人（IB）或者商品交易顧問(wèn)（CTA）的行為導致的損失和負債對交易所進(jìn)行賠償，或使交易所免于法律責任。
 
21. TRADING RECOMMENDATIONS 交易建議
Customer acknowledges that (i) any market recommendations and information communicated by EXCHANGE does not constitute an offer to sell or the solicitation of an offer to buy any commodity or commodity futures contract or options on futures contract; (ii) such recommendation and information, although based upon information obtained from sources believed by EXCHANGE to be reliable, may be based solely on a bro-ker’s opinion and that such information may be incomplete and may be unverified; and (iii) EXCHANGE makes no representation, warranty or guarantee as to, and shall not be responsible for, the accuracy or completeness of any information or trading
recommendation furnished to Customer. The market recommendations of EXCHANGE are based solely on the judgment of EXCHANGE’s personnel. These market recommendations may or may not be consistent with the market position or intentions of EXCHANGE, EXCHANGE’s affiliates and employees.
客戶(hù)確認(i)交易所傳送的任何市場(chǎng)建議和信息不構成出售任何商品或商品期貨合約或期貨合約期權的要約，或購買(mǎi)任何商品或商品期貨合約或期貨合約期權的要約邀請。(ii)此類(lèi)建議和信息盡管是建立在從交易所信任的來(lái)源得到的信息的基礎上，但可能只是某個(gè)經(jīng)紀人的個(gè)人意見(jiàn)，此類(lèi)信息可能是不完整的或未經(jīng)驗證的，(iii)交易所對向客戶(hù)提供的任何信息和交易建議的準確性或完整性不作任何陳述、保證或擔保，也不對此負責。交易所的市場(chǎng)建議完全建立在交易所人員判斷的基礎上。
 
Customer acknowledges that EXCHANGE and/or EXCHANGE’s officers, directors, affiliates, associates, stockholders or representatives may have a position in or may intend to buy or sell commodities, commodity futures contracts or commodity options which are the subject of market recommendations furnished to Customer, and that the market
position of EXCHANGE or any such officer, director, affiliate, associate, stockholder or representative may not be consistent with the recommendations furnished to Customer by EXCHANGE. Customer acknowledges that EXCHANGE makes no representations concerning the tax implications or treatment of contracts.
這些市場(chǎng)建議可能與交易所,交易所分支機構和雇員的市場(chǎng)頭寸或意向一致，也可能不一致?？蛻?hù)確認：對于提供給客戶(hù)的市場(chǎng)建議中提到的商品、商品期貨合約或者商品期權，交易所和/或交易所的官員、經(jīng)理、分支機構、合作者、持股人或者代理人可能會(huì )持有頭寸，或有意向買(mǎi)入或賣(mài)出，交易所或任何此類(lèi)官員、經(jīng)理、分支機構、合作者、持股人或代理人的市場(chǎng)頭寸可能與交易所提供給客戶(hù)的市場(chǎng)建議并不一致?？蛻?hù)確認交易所不做出任何關(guān)于稅收影響或合約處理陳述。
 
22. TRADING AGENTS 交易代理人
Customer acknowledges that should Customer grant trading authority or control over Customers Account to a third-party (“Trading Agent”), whether on a discretionary or non-discre-tionary basis, EXCHANGE shall in no way be responsible for reviewing Customers choice of such Trading Agent nor making any recommendations with respect
thereto. Customer understands that EXCHANGE makes no warranties or representations concerning any Trading Agent; nor does EXCHANGE by implication or otherwise, endorse or approve of the operating methods of the Trading Agent. Customer agrees that EXCHANGE shall not be held responsible for any loss to Customer occasioned by the actions of the Trading Agent. If Customer gives Trading Agent authority to exercise any of its rights over its accounts, Customer understands that Customer does so at Customers own risk.
客戶(hù)確認如果客戶(hù)授權第三方（交易代理人）對客戶(hù)帳戶(hù)進(jìn)行交易和控制，不管是否是由客戶(hù)的自由意志決定的，交易所都沒(méi)有責任調查客戶(hù)對交易代理人的選擇，或是對此做出任何建議?？蛻?hù)知道交易所不就交易代理人作出任何保證或陳述，交易所也不易暗示或其他方式認可或者認同交易代理人的操作方法?？蛻?hù)同意交易所不應對交易代理人的行為導致的客戶(hù)的任何損失負責。如果客戶(hù)授權交易代理人對其賬戶(hù)行使權利，客戶(hù)知道自己應該承擔相應的風(fēng)險。
 
Customer understands that EXCHANGE does not permit its Account Executives to either exercise discretion or manage an account, or hold a power of attorney over an account, unless approved by an executive officer of EXCHANGE and only after proper documentation has been submitted and approved by EXCHANGE. If Customer’s Account is not being traded with Customer’s authorization, Customer must notify EXCHANGE’s Compliance Officer
immediately.
客戶(hù)知道交易所不允許其帳戶(hù)執行人進(jìn)行判斷或者管理賬戶(hù)，或者對某一帳戶(hù)持有委任書(shū)，除非得到交易所的一位執行官的認可，并且必須在提交正確的文件并得到交易所批準之后。如果客戶(hù)的賬戶(hù)的交易沒(méi)有得到客戶(hù)的授權，客戶(hù)必須立即通知交易所的監察官。
 
23. CUSTOMER REPRESENTATIONS AND WARRANTIES 客戶(hù)闡明和保證
Customer represents and warrants that: (a) Customer is of sound mind, legal age and legal competence; (b) no person other than Customer has or will have an interest in Customer’s Account(s); (c) regardless of any subsequent determination to the contrary Customer is suitable to trade Commodities; and, (d) Customer is not now an employee
of any exchange, any corporation in which any exchange owns a majority of the capital stock, any member of any exchange or a firm registered on any exchange, or any bank, trust, or insurance company; and in the event that Customer becomes so employed, Customer will promptly notify EXCHANGE at its home office in writing of such
employment; and, (e) all the information provided in the information portion of this booklet is true, correct and complete as of the date hereof and Customer will notify EXCHANGE promptly of any changes in such information.
客戶(hù)闡明和保證：(a)客戶(hù)心智健康，達到法定年齡，具有完全民事行為能力，(b)除了客戶(hù)本人，沒(méi)有其他人對客戶(hù)的賬戶(hù)有興趣，或以后將有興趣，(c)不管以后會(huì )有什么相反的決定，客戶(hù)目前適合做商品交易，(d)客戶(hù)目前不是以下任何機構的雇員：交易所、任何交易所持有大多數資本股票的任何公司、任何交易所的任何會(huì )員或者在任何交易所注冊的公司、任何銀行、信托或保險公司；如果客戶(hù)成為以上機構的雇員，客戶(hù)將盡快寫(xiě)信通知交易所總部受雇于此類(lèi)機構的情況，(e)本手冊信息部分提供的所有信息迄今為止都是真實(shí)的、準確的和完整的，一旦這些信息發(fā)生變化，客戶(hù)將及時(shí)通知交易所。
 
24. DISCLOSURE OF FINANCIAL INFORMATION 金融信息的披露
Customer represents and warrants that the financial information disclosed to EXCHANGE in this document is an accurate representation of Customers current financial condition. Further, Customer represents and warrants that in determining:
客戶(hù)闡明并保證本文件中向交易所披露的金融信息是客戶(hù)當前金融狀況的準確報告。另外，客戶(hù)闡明并且保證在決定下列各項時(shí)：
 
(a) Customers Net Worth: Assets and Liabilities were carefully calculated then Liabilities were subtracted from Assets to determine Customers Net Worth;
客戶(hù)的資本凈值：資產(chǎn)和負債都經(jīng)過(guò)仔細核算，然后將負債從資產(chǎn)中減去，以決定客戶(hù)的資本凈值
 
(b) Value of Assets: Customer included cash and/or cash equivalents, U.S. Government and Marketable securities, real estate owned (excluding primary residence), the cash value of life insurance and other valuable Assets;
資產(chǎn)價(jià)值：客戶(hù)的資產(chǎn)價(jià)值包括了現金和/或現金等價(jià)物，美國政府和可出售有價(jià)證券，所擁有的房地產(chǎn)（包括主要住宅），人壽保險和其他貴重資產(chǎn)的現金價(jià)值；
 
(c) Value of Liabilities: Customer included notes payable to banks (secured and unsecured), notes payable to relatives, real estate mortgages (excluding primary residence) and other debts;
負債價(jià)值：客戶(hù)的負債價(jià)值包括了對銀行的應付票據（擔保的和未擔保的），對親屬的應付票據，房地產(chǎn)抵押（不包括主要住宅）和其他債務(wù)；
 
(d) Customers Liquid Assets: Customer included only those Assets that can be quickly, (within one days time) converted to Cash.
客戶(hù)的流動(dòng)資產(chǎn)客戶(hù)的流動(dòng)資產(chǎn)僅僅包括了那些可以迅速（一天以?xún)龋┺D化為現金的資產(chǎn)。
 
Customer represents and warrants that Customer has very carefully considered the portion of Customer’s Assets that Customer considers being Risk Capital. Customer recognizes that Risk Capital is the amount of money Customer is willing to put at risk and if lost would not, in any way, change Customers life style. Customer agrees to immediately inform EXCHANGE if Customers financial condition changes in such a way that reduces Customers Net Worth, Liquid Assets and/or Risk Capital.
客戶(hù)闡明和保證：客戶(hù)已經(jīng)非常謹慎的考慮了客戶(hù)資產(chǎn)中其認為是風(fēng)險資本的部分?？蛻?hù)認識到風(fēng)險資本是指：客戶(hù)愿意將某一金額的金錢(qián)置于風(fēng)險之下，如果失去了，無(wú)論如何不會(huì )改變客戶(hù)的生活方式?？蛻?hù)同意，如果客戶(hù)金融狀況的變化減少了客戶(hù)的資本凈值、流動(dòng)資產(chǎn)和/或風(fēng)險資本，客戶(hù)將立即通知交易所。
 
Customer authorizes EXCHANGE or EXCHANGE’s agents to investigate Customers credit standing and in connection therewith to contact such banks, financial institutions and credit agencies as EXCHANGE shall deem appropriate to verify information regarding Customer. Customer further authorizes EXCHANGE to investigate Customers current and past investment activity and in connection therewith, to contact such futures commission merchants, exchanges, broker/dealers, and compliance data centers, as EXCHANGE shall deem appropriate. Upon reasonable request made in writing by Customer to EXCHANGE, Customer shall be allowed to review any records maintained by EXCHANGE
relating to Customers credit standing. At Customers sole cost and expense Customer also shall be allowed to copy such records.
客戶(hù)授權交易所或者交易所的代理人調查客戶(hù)的信譽(yù)，并為此與銀行、金融機構和征信所聯(lián)系，因為交易所認為有必要核實(shí)關(guān)于客戶(hù)的信息?？蛻?hù)還授權EXCHANGE調查客戶(hù)當前和過(guò)去的投資行為，并為此聯(lián)系交易所認為適當的期貨傭金商、交易所、經(jīng)紀人/經(jīng)銷(xiāo)商和監察數據中心。根據客戶(hù)寫(xiě)給交易所的合理的書(shū)面請求，客戶(hù)應被允許查閱交易所持有的關(guān)于客戶(hù)信譽(yù)的任何記錄?？蛻?hù)還應被允許復制這些記錄，相關(guān)成本和費用由客戶(hù)自己承擔。
 
EXCHANGE has adopted policies and procedures for the protection of Customers confidential personal information from unauthorized disclosure. EXCHANGE’s policies and procedures regarding such matters are reflected in the EXCHANGE Privacy Notice. EXCHANGEs Privacy Notice may also be obtained from EXCHANGE’s website at www.EXCHANGEbest.com.
交易所采取了保護客戶(hù)秘密的個(gè)人信息不受非授權的披露的政策和程序。 關(guān)于此類(lèi)事物的交易所的政策和程序在交易所的“隱私公告”中有所反映。在交易所網(wǎng)站：www.EXCHANGEbest.com也能得到交易所的“隱私公告”。
 
25. NO GUARANTEES 無(wú)擔保
Customer acknowledges that Customer neither has any separate agreement nor shall enter into any separate agreement with Customer ‘s broker or any EXCHANGE employee or agent regarding the trading in Customer’s Account, including any agreement to guarantee profits or limit losses in Customer’s Account. Customer understands
that Customer is under an obligation to notify EXCHANGE’s Compliance Officer immediately in writing as to any agreement of this type. Further, Customer understands that any representations made by anyone concerning Customer’s Account, which differ from any statements Customer receives from EXCHANGE must be brought immediately in writing to the attention of EXCHANGE’s Compliance Officer. Customer understands that Customer must authorize every transaction prior to its execution unless Customer has dele gated discretion to another party by signing EXCHANGE’s limited trad ing authorization. Any disputed transactions must be brought to the attention of EXCHANGE’s Compliance Officer pursuant to the notice requirements of this Customer Agreement. Customer agrees to indemnify and hold EXCHANGE harmless from all damages or liabilities resulting from Customer’s failure to immediately notify EXCHANGE’s Compliance Officer of any of the occurrences referred to herein. All notices required under this section shall be sent to EXCHANGE at EXCHANGE’s address appearing on confirmations and account statements.
客戶(hù)確認：關(guān)于在客戶(hù)賬戶(hù)內的交易，客戶(hù)與客戶(hù)的經(jīng)紀人或者任何交易所的雇員或代理人之間沒(méi)有任何單獨的協(xié)議，也不會(huì )簽署任何單獨的協(xié)議，包括保證客戶(hù)賬戶(hù)盈利或者有限損失的任何協(xié)議?？蛻?hù)知道，如果有此類(lèi)協(xié)議的話(huà)，客戶(hù)有義務(wù)立即書(shū)面通知交易所的監察官。而且，客戶(hù)知道，任何人所作的關(guān)于客戶(hù)賬戶(hù)的任何陳述，如果與客戶(hù)從交易所收到的任何聲明有異的話(huà)，必須立即以書(shū)面的形式交給交易所的監察官?？蛻?hù)知道客戶(hù)必須在每一個(gè)交易之前授權此交易，除非客戶(hù)已經(jīng)通過(guò)簽署交易所的有限交易授權把決定權委任何另一方。任何有異議的交易必須按照此客戶(hù)協(xié)議的通知要求提請交易所監察官的注意?？蛻?hù)同意在上述任何情況下，對于因客戶(hù)未能立即通知交易所監察官而導致的損失或者負債，客戶(hù)將給交易所以賠償，或使交易所免負法律責任。本款要求的所有通知應按照確認和賬戶(hù)聲明上的交易所地址送至交易所。
 
26. JOINT ACCOUNTS聯(lián)合賬戶(hù)
If this account is held by more than one (1) person, all of the joint holders are jointly and severally liable to EXCHANGE for any and all obligations arising out of transactions in the account and/or this Customer Agreement. Customer acknowledges that each tenant of a joint account has authority to: a) trade for the account, b) receive all correspondence and documents in respect to the account, c) receive or withdraw money, d) execute agreements relating to the account, and e) deal with EXCHANGE fully. EXCHANGE has the authority to require joint action by the parties of the Account in matters relating to the Account. EXCHANGE has control and possession of the security of the Account individually or jointly. If a death occurs to one or more of the tenants, the remaining tenants shall notify EXCHANGE in writing. For all expenses incurred by the Account, the Account shall be charged and all tenants
shall be jointly and individually responsible. Unless the Customer informs EXCHANGE otherwise, each tenant is presumed to have equal interest in the Account.
如果此賬戶(hù)為多于一（1）人所持有，所有的聯(lián)合持有人對于來(lái)自本賬戶(hù)交易和/或本客戶(hù)協(xié)議的任何和所有義務(wù)對交易所負連帶責任?？蛻?hù)確認某聯(lián)合賬戶(hù)的每個(gè)持有人都有權：a)為本賬戶(hù)交易，b)接收關(guān)于本賬戶(hù)的所有通信和文件，c)收款或提款，d)執行與本賬戶(hù)有關(guān)的協(xié)議，e)與交易所保持充分的商業(yè)關(guān)系。交易所有權要求該賬戶(hù)的各方就該賬戶(hù)的相關(guān)事物做出聯(lián)合行為。交易所單獨地或聯(lián)合地對賬戶(hù)上的證券進(jìn)行控制和占有。如果某個(gè)或多個(gè)持有人死亡，剩下的持有人應書(shū)面通知交易所。賬戶(hù)導致的任何支出由該賬戶(hù)支付，所有的持有人負連帶責任。每個(gè)持有人都被認為就該賬戶(hù)有著(zhù)相同的利益，除非客戶(hù)告知交易所不同的情況。