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SECURITIES LIMITED RETAIL CLIENT AGREEMENT
證券公司零售客戶(hù)協(xié)議
 
 
CONTENTS 目錄
1. GENERAL INFORMATION一般資料
2. RIGHT TO CANCEL  取消權
3. ADVICE  建議
4. YOUR INFORMATION  您的資料
5. INSTRUCTIONS AND BASIS OF DEALING  指示和交易基礎
6. ELECTRONIC TRADING TERMS  電子交易條款
7. TITLE TRANSFER OF CASH  現金的所有權轉讓
8. MARGINING ARRANGEMENTS  保證金安排
9. REPRESENTATIONS, WARRANTIES AND COVENANTS  陳述、保證和契諾
10. EVENTS OF DEFAULT  違約事件
11. NETTING  凈額結算
12. RIGHTS ON DEFAULT  違約情況下的權利
13. TERMINATION WITHOUT DEFAULT  在無(wú)違約情況下終止
14. EXCLUSIONS, LIMITATIONS AND INDEMNITY  除外責任、限制和賠償保證
15. MISCELLANEOUS  其它事項
16. GOVERNING LAW AND JURISDICTION  管轄法律和司法權區
17. INTERPRETATION  釋義
 
This client agreement, together with any Schedule(s), Annexes, and other accompanying documents, as amended from time to time, (this "Agreement") sets out the terms of the contract between you and us. It is, therefore, very much in your interests to read it carefully. Please let us know as soon as possible if there is anything which you do not understand.
本客戶(hù)協(xié)議連同任何附表、附錄及其它隨附文件（經(jīng)不時(shí)修訂）（.本協(xié)議.）載明您與本公司之間的合同條款。因此，仔細閱讀本協(xié)議切實(shí)關(guān)乎您的利益。如果您有任何不理解之處，請立即告知本公司。
 
1. GENERAL INFORMATION一般資料
1.1 Information about us: We, ODL Securities Limited, are authorized and regulated by the Financial Services Authority ("FSA"). Our registered office and principal place of business is The Northern & Shell Building, 8th Floor, 10 Lower Thames Street,
London, EC3R 6AD, United Kingdom. The FSA's registered office is 25 The North Colonnade, London, E14 5HS.
  與本公司有關(guān)的資料：本公司，ODL證券有限公司，獲英國金融服務(wù)管理局（FSA.）授權和受其監管。本公司的注冊辦事處與主要營(yíng)業(yè)地點(diǎn)是：The Northern & Shell Building, 8th Floor, 10 Lower Thames Street, London, EC3R 6AD, United Kingdom。FSA的注冊辦事處是：25 The North Colonnade, London, E14 5HS。
 
1.2 Communication with us: You may communicate with us in writing (including fax), by email or other electronic means, or orally (including by telephone). The language of communication shall be English, and you will receive documents and other information from us in English. Our website at www.odls.com contains further details about us and our services, and other information relevant to this Agreement. In the event of any conflict between the terms of this Agreement and our website, this
Agreement will prevail.
與本公司的通訊：您可以采用書(shū)面（包括傳真）、電郵或其它電子方式、或口頭方式（包括電話(huà)）與本公司進(jìn)行通訊。通訊語(yǔ)言應為英語(yǔ)，您將收到本公司提供的英文文件和其它資料。本公司的網(wǎng)站（www.odls.com）載有關(guān)于本公司和本公司提供的服務(wù)的進(jìn)一步詳情以及關(guān)于本協(xié)議的其它資料。若本協(xié)議條款與該網(wǎng)站內容有任何沖突，則以本協(xié)議為準。
 
 1.3 Capacity: We act as principal and not as agent on your behalf in respect of forex, contracts for differences and over the counter products. We act as agent for you in respect of on exchange products. We shall treat you as a retail client for the purposes of the FSA Rules. You have the right to request a different client categorisation. However, if you do so and we agree to such categorisation, you will lose the protection afforded by certain FSA Rules. This may include, but is not limited to: (a) the requirement for us to act in accordance with your best interests; (b) our obligation to provide appropriate information to you before providing the services; (c) the restriction on the payment or receipt by us of any inducements; (d) our obligation to achieve best execution in respect of your orders; (e) the requirement to implement procedures and arrangements which provide for the prompt, fair and expeditious execution of your orders; (f) our obligation to ensure that all information we provide to you is fair, clear and not misleading; and (g) the requirement that you receive from us adequate reports on the services provided to you. You act as principal and not as agent (or trustee) on behalf of someone else.
 身份：就外匯、差價(jià)合同和場(chǎng)外交易產(chǎn)品而言，本公司以主事人而非您的代理人身份行事。本公司就場(chǎng)內交易產(chǎn)品以您的代理人身份行事。根據FSA規則，本公司應將您視為零售客戶(hù)。您有權申請一個(gè)不同的客戶(hù)類(lèi)別。但是，一旦您這么做而本公司同意這個(gè)不同類(lèi)別，您將失去FSA規則中某些規則賦予您的保護措施。這可能包括但不限于：(a)本公司必須以符合您的最佳利益的方式行事；(b)本公司有義務(wù)在提供服務(wù)之前向您提供適當的資料；(c)本公司不得支付或收取任何誘因；(d)本公司有義務(wù)充分執行您的指令；(e)本公司必須實(shí)施有關(guān)
程序和安排以便及時(shí)、公正且迅速地執行您的指令；(f)本公司有義務(wù)確保本公司提供給您的所有資料均公帄、清楚和不具誤導性；及(g)本公司必須就您獲得的服務(wù)向您提供充分的報告。您以主事人行事而非以代理人（或受托人）身份代其他人行事。
 
 1.4 Commencement: This Agreement supersedes any previous agreement between you and us on the same subject matter, and takes effect when you signify acceptance of this Agreement or when you give us an order to enter into a Transaction with us on or
after 1 November 2007. This Agreement shall apply to all Transactions contemplated under this Agreement. In the event of any conflict between the clauses of this Agreement and the terms of any other material distributed by us the clauses of this
Agreement shall prevail.
1.4 生效：本協(xié)議取代您與本公司先前就相同事項訂立的任何協(xié)議，并在2007年11月1日或之后您表示接受本協(xié)議時(shí)或在您向本公司發(fā)出指令與本公司達成交易時(shí)生效。本協(xié)議適用于根據本協(xié)議擬訂的所有交易。若本協(xié)議的條款與本公司分發(fā)的任何其它材料的條款相抵觸，則概以本協(xié)議的條款為準。
 
1.5 Subject to Applicable Regulations: This Agreement and all Transactions are subject to Applicable Regulations so that: (i) if there is any conflict between this Agreement and any Applicable Regulations, the latter will prevail; (ii) nothing in
this Agreement shall exclude or restrict any obligation which we have to you under Applicable Regulations; (iii) we may take or omit to take any action we consider necessary to ensure compliance with any Applicable Regulations; (iv) all Applicable
Regulations and whatever we do or fail to do in order to comply with them will be binding on you; and (v) such actions that we take or fail to take for the purpose of compliance with any Applicable Regulations shall not render us or any of our
directors, officers, employees or agents liable.
1.5 受適用規例規限：本協(xié)議和所有交易受適用規例規限，因此：(i)若本協(xié)議與任何適用規例相抵觸，則概以后者為準；(ii)本協(xié)議內任何規定概不會(huì )排除或限制本公司根據適用規例對您負有的任何義務(wù)；(iii)本公司可采取或不采取本公司認為必要的任何行動(dòng)，確保遵守任何適用規例；(iv)所有適用規例以及本公司為遵守這些規例而作出或未作出何種事情，都將對您有約束力；及(v)本公司為遵守任何適用規例采取或未能采取的行動(dòng)，不得令本公司或本公司的任何董事、高級職員、雇員或代理人負有法律責任。
 
1.6 Market action: If a Market (or intermediate broker or agent, acting at the direction of, or as a result of action taken by, a Market) or regulatory body takes
any action which affects a Transaction, then we may take any action which we, in our reasonable discretion, consider desirable to correspond with such action or to mitigate any loss incurred as a result of such action. Any such action shall be
binding on you. If a Market or regulatory body makes an enquiry in respect of any of your Transactions, you agree to co-operate with us and to promptly supply information requested in connection with the enquiry.
1.6 市場(chǎng)行動(dòng)：若市場(chǎng)（或按市場(chǎng)方向行事或按市場(chǎng)采取行動(dòng)所導致結果行事的中介經(jīng)紀人或代理人）或監管機構，采取影響交易的任何行動(dòng)，則本公司可采取本公司合理酌情認為與該行動(dòng)一致或可減輕由于該行動(dòng)所引致任何損失的任何適宜的行動(dòng)，而任何該等行動(dòng)應對您具有約束力。若市場(chǎng)或監管機構對您的任何交易發(fā)出查詢(xún)，則您同意與本公司合作，并立即提供就該查詢(xún)要求的資料。
 
1.7 Scope of this Agreement: This Agreement sets out the basis on which we will provide services to you. This Agreement governs each Transaction entered into or outstanding between us on or after the execution of this Agreement.
1.7 本協(xié)議的范圍：本協(xié)議列出了本公司據以向您提供服務(wù)的基礎。本協(xié)議管轄雙方在簽署本協(xié)議之時(shí)或之后訂立或尚未完成的每宗交易。
 
1.8 Charges: You shall pay our charges as agreed with you from time to time, any taxes imposed by any competent authority on any account opened or Transaction effected by or cleared for you; any fees or other charges imposed by a Market or any clearing organization; interest on any amount due to us at the rates then charged by us (and which are available on request); and any other value added or other applicable taxes of any of the foregoing, including any withholding tax. We will notify you of our current charges. Any alteration to charges will be notified to you before the time of the change.
1.8 收費：您應支付本公司不時(shí)與您協(xié)定的收費，任何主管機構就為您所開(kāi)設的任何賬戶(hù)或由您執行或為您結算的任何交易而征收的任何稅項；市場(chǎng)或任何清算機構施加的任何費用或其它收費；按本公司當時(shí)收取的利率（您可以向本公司查詢(xún)）就您結欠本公司的任何款項計算的利息；以及前述任何一項的任何其它增值或其它適用稅金，包括任何預扣稅。本公司會(huì )通知您本公司現行的收費標準。若收費標準有變，在此之前本公司會(huì )通知您。
 
1.9 Costs resulting from use of distance means: In addition to the costs set out above, additional costs may be payable by you by virtue of the fact that this contract is entered into via email, telephone or fax or other distance means.
1.9 由于使用長(cháng)途通信方法所致的成本：除上述費用外，若本協(xié)議是以電郵、電話(huà)或傳真或其它遠程方式簽訂，您可 能應支付額外費用。
 
1.10 Additional costs: You should be aware of the possibility that other taxes or costs may exist that are not paid through or imposed by us.
1.10其它費用：您應知道，可能存在并非通過(guò)本公司支付或由本公司收取的其它稅項或費用。
 
 
1.11 Payments: All payments to us under this Agreement shall be made in such currency as we may from time to time specify to the bank account designated by us for such purposes. All such payments shall be made by you without any deduction or withholding.
1.11付款：根據本協(xié)議應支付給本公司的所有款項應以本公司不時(shí)規定的貨幣支付予本公司就此指定的銀行賬戶(hù)。您在支付所有這些付款時(shí)不得扣除或預扣任何款項。
 
1.12 Remuneration and sharing of charges: We may receive remuneration from, or share charges with, an Associate or other third party in connection with Transactions carried out on your behalf. Details of any such remuneration or sharing arrangements are enclosed.
1.12報酬和分擔收費：本公司可能會(huì )就代您執行的交易向聯(lián)系人士或其它第三方收取報酬，或與聯(lián)系人士或其它第三方分擔收費。本協(xié)議附有與這些報酬或分擔安排有關(guān)的詳細資料。
 
1.13 Description of Service: A description of the main characteristics of the service we will provide is enclosed.
1.13服務(wù)說(shuō)明：有關(guān)本公司將提供的服務(wù)的主要特點(diǎn)附載于本協(xié)議。
 
1.14 Language and minimum duration: This Agreement is supplied to you in English and we will continue to communicate with you in English for the duration of this Agreement. The minimum duration of this Agreement shall be the earlier of settlement of the first trade in respect of which you instruct us or the occurrence of an Event of Default.
1.14語(yǔ)言文字和最短期限：本協(xié)議用英文向您提供，而在本協(xié)議的期限內本公司將繼續用英文與您溝通。本協(xié)議的最短期限為截至您指示本公司進(jìn)行的首筆交易結算止或發(fā)生違約事件止期間，以較早者為準。
 
2. RIGHT TO CANCEL 2. 取消權
Right to Cancel: You have a right to cancel this Agreement for a period of fourteen days commencing on the date on which this Agreement is concluded or the date on which you receive this Agreement (whichever is later) (the "Cancellation Period"). Should you wish to cancel this Agreement within the Cancellation Period, you should send notice in writing to the following address: The Northern & Shell Building, 8th
Floor, 10 Lower Thames Street, London, EC3R 6AD, United Kingdom. If you fail to cancel this Agreement within the Cancellation Period you will be bound by its terms.
取消權：您有權自本協(xié)議訂立之日或您收到本協(xié)議之日（以較遲者為準）起14天內（.取消期限.），取消本協(xié)議。如果您在取消期間內，有意取消本協(xié)議，則您應向以下地址發(fā)出書(shū)面通知：The Northern & Shell Building, 8th Floor, 10 Lower Thames Street, London, EC3R 6AD, United Kingdom。若您未能在取消期間內取消本協(xié)議，則您將受其條款約束。
 
3. ADVICE 3. 建議
3.1 Information from you: Although we do not normally provide an advisory service if we expressly
3.1 您提供的資料：本公司通常不會(huì )提供咨詢(xún)服務(wù)，但是如果本公司以書(shū)面方式明確協(xié)定向您提供建議，
 
agree in writing to provide you with advice we are obliged under Applicable Regulations to obtain information about your personal and financial circumstances so that we can make a recommendation or take a decision which is suitable for you. We shall assume that information about your personal and financial circumstances in any document provided from you to us, is accurate and we will have no responsibility to you if such information changes or becomes inaccurate unless you have informed us of such changes. Unless we obtain the necessary information from you, we will
not be able to advise you.
根據適用規例本公司必須獲取與您個(gè)人和財務(wù)狀況有關(guān)的資料，以便本公司提供適合您的建議或做出適合您的決定。本公司假設您提供給本公司的任何文件中所載的關(guān)于您個(gè)人或財務(wù)狀況的資料均正確，若這些資料有變或不再準確，除非您已通知本公司有關(guān)的變動(dòng)，否則本公司無(wú)須對您負責。除非您向本公司提供必要的資料，否則本公司無(wú)法給予您建議。
 
3.2 Advice and execution-only arrangements: Please note that we will not advise you about the merits of a particular Transaction if we reasonably believe that, at the time of your order, you are not expecting such advice and are dealing on an execution-only basis. If we advise you that your proposed course of action is not suitable for you but you nevertheless wish to proceed with the Transaction, we will only accept your order on an execution-only basis. In such circumstances, we will inform you at the time that we will execute your order on that basis. We may
proceed with the Transaction even when you are acting contrary to our advice.
3.2 建議和.只限執行.安排：請注意，如果本公司合理認為，您在發(fā)出指令時(shí)并未期望獲得有關(guān)建議且按.只限執行.的基準進(jìn)行交易，則本公司不會(huì )向您提供關(guān)于某項交易優(yōu)缺點(diǎn)的建議。如果本公司告知您擬采取的行動(dòng)并不適合您，而您仍希望繼續進(jìn)行此交易，本公司將僅按.只限執行.的基準接受您的指令。在此情況下，本公司當時(shí)就會(huì )告訴您本公司將按該基準執行您的指令。即使您的指令與本公司的建議相反，本公司也會(huì )繼續執行有關(guān)的交易。
 
3.3 No on-going advice: From time to time, we may, at our discretion, provide information, advice and recommendations on our own initiative. However, we shall not be under any obligation to provide on-going advice in relation to the management of
your investments unless you have entered into a discretionary investment management agreement with us or we have agreed to maintain your portfolio under continuous review and provide specific recommendations from time to time.
3.3 不會(huì )持續提供建議：本公司可能會(huì )不時(shí)酌情決定主動(dòng)提供資料、意見(jiàn)和建議。但是，除非您與本公司簽訂全權委托投資管理協(xié)議或本公司同意持續關(guān)注您的投資組合及不時(shí)提供具體建議，否則，本公司沒(méi)有義務(wù)持續向您提供與投資管理有關(guān)的建議。
 
3.4 Limitations: Where we do provide market information, advice or recommendations, we give no representation, warranty or guarantee as to their accuracy or completeness or as to the tax consequences of any Transaction. Unless we specifically agree otherwise in writing with you, you hereby acknowledge: (i) that the provision of advice is incidental to your dealing relationship with us and provided solely to enable you to make your own investment decisions; (ii) that the information
provided to other clients may be different from advice given to you; and (iii) that such information may not be consistent with our proprietary investments, or those of our Associates, directors, employees or agents.
3.4 限制：若本公司提供市場(chǎng)資料、意見(jiàn)或建議，本公司不會(huì )就其準確性或完整性或任何交易的稅務(wù)后果發(fā)表任何聲明、保證或擔保。除非本公司與您另行達成明確的書(shū)面協(xié)議，否則，您應特此確認：(i)建議是作為您與本公司的交易關(guān)系的附帶事項而提供，僅用于幫助您自行作出投資決策；(ii)提供予其他客戶(hù)的資料可能與提供給您的資料不同；及(iii)這些資料可能與本公司、或本公司的聯(lián)系人士、董事、雇員或代理人的自營(yíng)性投資不一致。
 
3.5 Investment research and other published information: We may from time to time send published research reports and recommendations and other publications to you. If the document contains a restriction on the person or category of persons for whom that document is intended or to whom it is distributed, you agree that you will not pass it on to any such person or category of persons. We make no representations as to the time of receipt by you of research reports or recommendations and cannot
guarantee that you will receive such research reports or recommendations at the same time as other clients. We shall not be liable for any investment decision you make, based in whole or in part, on any investment research report, recommendation or other
publication we send to you. Any such published research reports or recommendations may appear in one or more screen information service. Please refer to the attached summary of our Conflicts of Interest Policy for further information on how we manage conflicts which would affect the impartiality of investment research we provide to you.
3.5 投資研究和其它公布資料：本公司可能不時(shí)向您發(fā)送已公布的研究報告、建議以及其它刊發(fā)資料。如果相關(guān)文件規定了受限制的閱讀對象或傳播對象，您同意您不會(huì )將該文件交予任何這些人或這些類(lèi)別的人。本公司對您收取研究報告或建議的時(shí)間不發(fā)表任何聲明，也不能保證您收到這些研究報告或建議的時(shí)間與其他客戶(hù)一樣。本公司不會(huì )就您根據本公司向您發(fā)送的任何投資研究報告、建議或其它刊發(fā)資料的全部或部分內容所作的任何投資決定承擔任何法律責任。這些出版的研究報告或建議可能會(huì )出現在一項或多項屏幕信息服務(wù)中。請查看隨附的《利益沖突政策》概要，了解關(guān)于本公司如何管理可能會(huì )影響本公司提供給您的投資研究的公正性的沖突的更多信息。
 
3.6 Tax advice: We will not provide any tax advice. In addition, we shall not at any time be deemed to be under any duty to provide tax advice.
3.6 稅務(wù)建議：本公司不會(huì )提供任何稅務(wù)建議。此外，本公司在任何時(shí)候均不應視為具有提供稅務(wù)建議的責任。
 
4. YOUR INFORMATION 4. 您的資料
4.1 Confidentiality and data protection: Subject to the following we will treat all information we hold about you as private and confidential, even when you are no longer a client. You agree, however, that we and other companies in our group may:
4.1 保密和資料保護：受下文條文規限，本公司將把自身所持有的關(guān)于您的所有資料視為私人及機密資料，即使您不再為本公司客戶(hù)。但是，您同意本公司和本公司集團內的其它公司可以：
 
(a) use your information to administer and operate your account and monitor and analyse its conduct, provide services to you, assess any credit limit or other credit decision (and the interest rate, fees and other charges to be applied to your account) and enable us to carry out statistical and other analysis;
(a) 利用您的資料以管理和操作您的賬戶(hù)以及監控和分析賬戶(hù)動(dòng)態(tài)、向您提供服務(wù)、評估任何信用限額或其它信用決定（以及將對您的賬戶(hù)應用的利率、手續費和其它收費）以及便于本公司進(jìn)行統計數據和其它分析；
 
(b) disclose your information to other companies in our group; those who provide services to us or act as our agents; anyone to whom we transfer or propose to transfer any of our rights or duties under this Agreement; credit reference agencies or other organizations that help us and others make credit decisions and reduce the incidence
of fraud or in the course of carrying out identity, fraud prevention or credit control checks; where we are required to do so by Applicable Regulations, there is a public duty to disclose or our interests require disclosure; at your request; or with your consent (and in the case of a joint account, we may disclose to any of you information obtained by us from any of you in relation to the account);
(b) 向下列各方或在下列情況中披露您的資料：本公司集團中的其它公司；本公司的服務(wù)供應商或代理公司；本公司在本協(xié)議下具有的任何權利或責任的轉讓或擬轉讓對象；幫助本公司和其他人做出信用決定和減少欺詐發(fā)生頻率或正在進(jìn)行身份、欺詐預防或信用控制檢查的信用資料服務(wù)機構或其它機構；適用規例要求本公司披露、根據公共責任本公司必須披露或為公司利益本公司必須披露；應您的要求；或者經(jīng)過(guò)您的同意（如果您的賬戶(hù)為聯(lián)名賬戶(hù)，本公司可向你們中任何一位披露本公司向你們中任何一位獲取的關(guān)于賬戶(hù)的資料）；
 
(c) use your information, unless you have told us that you do not wish us to do so, to inform you (by post, telephone, email or other medium, using the contact details you have given us) about products and services offered by us, other companies in our group or selected third parties which we believe may be of interest to you; and
(c) 利用您的資料向您提供（利用您提供給本公司的聯(lián)系資料，通過(guò)郵寄、電話(huà)、電郵或其它媒介）關(guān)于本公司、本公司集團中的其它公司或本公司認為對您有利的特定第三方所提供的產(chǎn)品和服務(wù)的信息，除非您告訴本公司不可如此行事；及
 
(d) transfer your information to any country, including countries outside the European Economic Area which may not have strong data protection laws, for any of the purposes described in this clause.
(d) 出于本條中所述的任何目的，將您的資料轉移至任何國家，包括不屬于歐洲經(jīng)濟區的可能并未制定嚴格的資料保護法律的國家。
 
4.2 Your rights: You may have rights of access to some or all of the information we hold about you, to have inaccurate information corrected and to tell us that you do not wish to receive marketing information, under data protection law. If you wish to exercise any of these rights, please contact us in writing.
4.2 您的權利：根據資料保護法律，您有權查閱本公司持有的關(guān)于您的全部或部分資料、要求本公司修改不準確的資料和告知本公司您不愿接收推銷(xiāo)資料。若您有意行使上述任何權利，請書(shū)面聯(lián)系本公司。
 
5. INSTRUCTIONS AND BASIS OF DEALING 5. 指示和交易基礎
5.1 Placing of instructions: You may give us instructions in writing (including fax), by email or other electronic means or orally (including by telephone), unless we tell you that instructions can only be given in a particular way. If you give instructions by telephone, your conversation may be recorded. If any instructions are received by us by telephone, computer or other medium we may ask you to confirm such instructions in writing. We shall be authorized to follow instructions notwithstanding your failure to confirm them in writing. Instructions for the simultaneous sale and purchase of a security financial instrument on behalf of the same beneficial owner may not be given under this Agreement. In this Agreement "instructions" and "orders" have the same meaning.
5.1 發(fā)出指示：您可以以書(shū)面方式（包括傳真）、電郵或其它電子方式或口頭方式（包括電話(huà)）向本公司發(fā)出指示，除非本公司告訴您只能以特定方式發(fā)出指示。若您通過(guò)電話(huà)發(fā)出指示，您的談話(huà)內容可能會(huì )被錄音。若本公司收到以電話(huà)、電腦或其它媒介發(fā)出的指示，本公司可能會(huì )要求您以書(shū)面方式確認這些指示。即使您未能以書(shū)面方式進(jìn)行確認，本公司有權依照您的指示行事。根據本協(xié)議，您不能發(fā)出要求本公司代同一實(shí)益擁有人同時(shí)買(mǎi)入及賣(mài)出一種證券金融工具的指示。在本協(xié)議中，指示和指令具有相同涵義。
 
5.2 Authority: We shall be entitled to act for you upon instructions given or purporting to be given by you or any person authorized on your behalf without further enquiry as to the genuineness, authority or identity of the person giving or purporting to give such instructions.
5.2 權限：本公司有權根據您或您的任何授權人士發(fā)出或宣稱(chēng)是您或您的授權人士發(fā)出的指示代您行事，而不會(huì )進(jìn)一步查詢(xún)發(fā)出或宣稱(chēng)發(fā)出這些指示的人士的真實(shí)性、權限或身份。
 
5.3 Cancellation/withdrawal of instructions: We can only cancel your instructions if we have not acted upon those instructions. Instructions may only be withdrawn or amended by you with our consent.
5.3 取消／撤銷(xiāo)指示：本公司只會(huì )取消尚未執行的指示。只有在經(jīng)過(guò)本公司的同意后，您才可以撤銷(xiāo)或修改指示。
 
5.4 Right not to accept orders: We may, but shall not be obliged to, accept instructions to enter into a Transaction. If we decline to enter into a proposed
Transaction, we shall not be obliged to give a reason but we shall promptly notify you accordingly.
5.4 不接受指令的權利：本公司可能會(huì )（但是沒(méi)有義務(wù)）接受指示以達成交易。如果本公司拒絕達成一項建議交易，本公司無(wú)須說(shuō)明原因，但是應盡快通知您。
 
5.5 Control of orders prior to execution: We have the right (but no obligation) to set limits and/or parameters to control your ability to place orders at our absolute discretion. Such limits and/or parameters may be amended, increased, decreased,
removed or added to by us at our absolute discretion and may include (without limitation): (i) controls over maximum order amounts and maximum order sizes; (ii) controls over our total exposure to you; (iii) controls over prices at which orders may be submitted (to include (without limitation) controls over orders which are at a price which differs greatly from the market price at the time the order is submitted to the order book); (iv) controls over the Electronic Services (to include (without limitation) any verification procedures to ensure that any particular order or orders has come from you); or (v)
any other limits, parameters or controls which we may be required to implement in accordance with Applicable Regulations.
5.5 在執行之前對指令的控制：本公司有權（但無(wú)義務(wù)）絕對酌情決定設定限制及／或參數以控制您發(fā)出指令的能力。本公司可絕對酌情決定修改、增加、減少、去除或增添這些限制及／或參數，其中包括但不限于：(i)控制指令的最大金額和指令的最大規模；(ii)控制本公司為您承擔的總風(fēng)險；(iii)控制指令提交價(jià)格（包括但不限于控制在指令被提交到買(mǎi)賣(mài)盤(pán)記錄時(shí)，其價(jià)格與市價(jià)有極大差距的指令）；(iv)控制電子服務(wù)（包括但不限于任何驗證程序，以確保任何特定指令是由您發(fā)出）；或(v)根據適用規例本公司可能必須實(shí)施的任何其它限制、參數或控制。
 
5.6 Execution of orders: We shall use our reasonable endeavours to execute any order promptly, but in accepting your orders we do not represent or warrant that it will be possible to execute such order or that execution will be possible according to your instructions. If we encounter any material difficulty relevant to the proper carrying out of an order on your behalf we shall notify you promptly. We shall
carry out an order on your behalf only when the relevant Market is open for dealings, and we shall deal with any instructions received outside Market hours as soon as possible when that relevant Market is next open for business (in accordance with the
rules of that Market). You agree that we may execute an order on your behalf outside a Market. When you give us a specific instruction, our order execution policy will not apply, and we may be unable to take the steps described in such policy to obtain the best possible result in executing your order. You confirm that you have read and agree to our order execution policy and best execution policy contained in the Schedule to this Agreement. We will notify you of any material changes to our order execution policy, but it is your responsibility to check for any other changes to our order execution policy as published from time to time at www.odls.com. We will
consider the continued placement of orders by you to constitute your continued consent to our order execution policy as in effect from time to time.
5.6 執行指令：本公司應盡合理努力盡快執行任何指令，但是在接受您的指令時(shí)，本公司并未聲明或保證可以執行這些指令或可以根據您的指示執行這些指令。如果本公司遇到與代您適當執行一項指令有關(guān)的任何重大難題，本公司會(huì )盡快通知您。本公司只會(huì )在相關(guān)市場(chǎng)開(kāi)放進(jìn)行交易時(shí)代您執行指令，而且本公司會(huì )在相關(guān)市場(chǎng)下次開(kāi)放進(jìn)行交易時(shí)（根據該市場(chǎng)的規則）盡快處理本公司在市場(chǎng)營(yíng)業(yè)時(shí)間之外收到的任何指示。您同意，本公司可代您在市場(chǎng)
之外執行指令。如果您向本公司發(fā)出特定指示，本公司的指令執行政策將不適用，本公司在執行您的指令時(shí)可能無(wú)法采取該政策中所述的步驟以取得最佳結果。您確認您已閱讀并同意本公司的指令執行政策以及本協(xié)議附表中所載的最佳執行政策。本公司將通知您本公司的指令執行政策出現的任何重大變動(dòng)，但是您有責任檢查本公司不時(shí)在www.odls.com上公布的指令執行政策，以確定是否存在任何其它變動(dòng)。如果您持續向本公司發(fā)出指令，本公司將認為您持續同意本公司不時(shí)生效的指令執行政策。
 
5.7 Crossing of orders: We may arrange for a Transaction to be executed, either in whole or in part, by selling an investment to you from another client, or a client of an Associate of ours, or vice-versa. We shall not give you prior notice if we
arrange for a Transaction to be executed in this manner.
5.7 交叉指令：本公司可能會(huì )通過(guò)向您出售其他客戶(hù)或本公司聯(lián)系人士的客戶(hù)的投資，安排全部或部分執行交易，反之亦然。如果本公司安排以這種方式執行交易，本公司不會(huì )提前通知您。
 
5.8 Aggregation of orders: We may combine your order with our own orders and orders of other clients. By combining your orders with those of other clients, we must reasonably believe that this is in the overall best interests of our clients. However, aggregation may result in you obtaining a less favourable price in relation to a particular order. Please refer to our order allocation policy for more information.
5.8 合并指令：本公司可能會(huì )將您的指令與本公司自身的指令和其他客戶(hù)的指令合并。在合并您的指令與其他客戶(hù)的指令時(shí)，本公司必須合理相信這符合客戶(hù)的最佳整體利益。但是，合并可能導致您就特定指令獲得的價(jià)格不若原來(lái)有利。詳情請參閱本公司的指令分配政策。
 
5.9 Confirmations: We shall send you confirmations at the end of the trading day for any Transactions that we have executed on your behalf on that trading day, by electronic mail to the e-mail address on record for you. It is your responsibility to inform us of any change to your e-mail address, the non-receipt of a confirmation, or whether any confirmations are incorrect before settlement. Confirmations shall, in the absence of manifest error, be conclusive and
binding on you, unless we receive from you objection in writing within five Business Days of despatch to you or we notify you of an error in the confirmation within the same period.
5.9 確認書(shū)：本公司會(huì )在交易日結束時(shí)按照記錄中您的電郵地址向您發(fā)送電子郵件，確認本公司代您在該交易日執行的任何交易。您有責任將您的電郵地址發(fā)生的任何變動(dòng)、未收到確認書(shū)的情況通知本公司，或在結算之前告訴本公司確認書(shū)是否有誤。如無(wú)明顯錯誤，確認書(shū)應不可推翻并對您具有約束力，除非本公司在發(fā)出確認書(shū)后五個(gè)營(yíng)業(yè)日內收到您的書(shū)面反對意見(jiàn)，或本公司在上述期間通知您確認書(shū)中存在錯誤。
 
5.10 Performance and settlement: You will promptly deliver any instructions, money, documents or property deliverable by you under a Transaction in accordance with that Transaction as modified by any instructions given by us for the purpose of enabling us to perform our obligations under the relevant matching Transaction on a Market or with an intermediate broker.
5.10 履行和結算：對于任何交易，您將立即交付您根據該交易（經(jīng)本公司發(fā)出的任何指示修訂）應交付的任何指示、款項、文件或財產(chǎn)，使本公司能夠在市場(chǎng)上或與中介經(jīng)紀人履行相關(guān)匹配交易的義務(wù)。
 
5.11 Intermediate brokers and other agents: We may, at our entire discretion, arrange for any Transaction to be effected with or through the agency of an intermediate broker, who may be an Associate of ours, and may not be in the United Kingdom. Neither we nor our respective directors, officers, employees or agents will be liable to you for any act or omission of an intermediate broker or agent. No responsibility will be accepted for intermediate brokers or agents selected by you.
5.11 中介經(jīng)紀人及其它代理人：本公司可完全酌情安排在或通過(guò)中介經(jīng)紀人機構實(shí)施任何交，該機構可能屬于本公司的一個(gè)聯(lián)系人士，或不在英國。本公司或本公司各自的董事、高級職員、雇員或代理人均無(wú)須就中介經(jīng)紀人或代理人的任何作為或不作為，對您負有法律責任。若中介經(jīng)紀人或代理人由您選定，本公司無(wú)須承擔任何責任。
 
5.12 Position limits: We may require you to limit the number of open positions which you may have with us at any time and we may in our sole discretion close out any one or more Transactions in order to ensure that such position limits are maintained.
5.12 持倉限制：本公司可要求您限制您在任何時(shí)間與本公司的未帄倉持倉數目，而本公司可全權酌情對任何一個(gè)或多個(gè)交易進(jìn)行帄倉，以確保維持該等持倉限制。
 
5.13 Trade Reporting: Under Applicable Regulations, we may be obliged to make information about certain Transactions public. You agree and acknowledge that any and all proprietary rights in such Transaction information are owned by us and
you waive any duty of confidentiality attaching to the information which we reasonably disclose.
5.13 交易報告：根據適用規例，本公司有義務(wù)公開(kāi)關(guān)于若干交易的資料。您同意和承認，該交易資料中的任何和所有所有權均由本公司擁有，而您豁免本公司合理披露的資料所附帶的任何保密義務(wù)。
 
6. ELECTRONIC TRADING TERMS 6. 電子交易條款
6.1 Scope: These clauses apply to your use of any Electronic Services.
6.1 范圍：這些條款適用于您對任何電子服務(wù)的使用。
 
6.2 Access: Once you have gone through the security procedures associated with an Electronic Service provided by us, you will get access to such service, unless agreed otherwise or stated on our website. Please consult our website for more details on
operating times. We may change our security procedures at any time and we will tell you of any new procedures that apply to you as soon as possible.
6.2 獲得：一旦您通過(guò)本公司所提供的電子服務(wù)相關(guān)的安全程序，您將獲得該服務(wù)，除非另有協(xié)定或本公司的網(wǎng)站上聲明。請查閱本公司的網(wǎng)站，了解有關(guān)操作時(shí)間的更多詳情。本公司可隨時(shí)改變本公司的安全程序，而若有適用于您的任何新程序，本公司將盡快通知您。
 
 
 
 
 
6.3 Restrictions on services provided: There may be restrictions on the number of Transactions that you can enter into on any one day and also in terms of the total value of those Transactions when using an Electronic Service. You acknowledge that some Markets place restrictions on the types of orders that can be directly transmitted to their electronic trading systems. These types of orders are sometimes
described on synthetic orders. The transmission of synthetic orders to the Market is dependent upon the accurate and timely receipt of prices or quotes from the relevant Market or market data provider. You acknowledge that a Market may cancel a synthetic
order when upgrading its systems, trading screens may drop the record of such an order, and you enter such orders at your own risk.
6.3 對所提供服務(wù)的限制：您在任何一天使用電子服務(wù)時(shí)可達成的交易數，以及這些交易的總值方面，可能存在限制。您承認，若干市場(chǎng)會(huì )對可直接傳送到其電子交易系統的指令類(lèi)型施加限制。這些類(lèi)型的指令有時(shí)會(huì )在合成指令上描述。向市場(chǎng)傳送合成指令，取決于相關(guān)市場(chǎng)或市場(chǎng)數據提供商準確及時(shí)地收到價(jià)格或報價(jià)。您承認，市場(chǎng)在升級系統時(shí)，可取消合成指令，交易屏幕可停止記錄該指令，同時(shí)，您自己承擔錄入該等指令的風(fēng)險。
 
6.4 Right Of Access: In respect of any Market to which we allow you to submit orders or receive information or data using Electronic Services, we may at any time or times, on reasonable notice (which, in certain circumstances, may be immediate) enter (or instruct our or the Market's subcontractors to enter) your premises and inspect your System to ensure that it complies with the requirements notified by us to you from time to time and that you are using Electronic Services in accordance with this Agreement and any requirements of any relevant Market or Applicable Regulations.
6.4 進(jìn)出權：對于本公司允許您采用電子服務(wù)提交指令或收取資料或數據的任何市場(chǎng)，本公司可能會(huì )隨時(shí)經(jīng)發(fā)出合理通知（在若干情況下，可立即）進(jìn)出（或指示本公司或市場(chǎng)分包商進(jìn)出）您所在場(chǎng)所并檢查您的系統，以確保您的系統符合本公司不時(shí)告知您的要求，并確保您根據本協(xié)議和任何相關(guān)市場(chǎng)或適用規例的任何要求使用電子服務(wù)。
 
6.5 Access requirements: You will be responsible for providing the System to enable you to use an Electronic Service.
6.5 使用要求：您將負責提供使您能夠使用電子服務(wù)的系統。
 
6.6 Virus detection: You will be responsible for the installation and proper use of any virus detection/scanning program we require from time to time.
6.6 病毒檢測：您將負責安裝和妥善使用本公司不時(shí)要求的任何病毒檢測／掃描程序。
 
6.7 Use of information, data and software: In the event that you receive any data, information or software via an Electronic Service other than that which you are entitled to receive pursuant to this Agreement, you will immediately notify us and will not use, in any way whatsoever, such data, information or software.
6.7 使用資料、數據和軟件：若您通過(guò)電子服務(wù)收到您按照本協(xié)議有權收到以外的任何數據、資料或軟件，則您將以及通知本公司，而不得以任何方式使用該數據、資料或軟件。
 
 6.8 Maintaining standards: When using an Electronic Service you must:
6.8 維護標準：在使用電子服務(wù)時(shí)，您必須：
 
(a) ensure that the System is maintained in good order and is suitable for use with such Electronic Service;
(a) 確保系統保持良好運行狀態(tài)，適合使用電子服務(wù)；
 
(b) run such tests and provide such information to us as we shall reasonably consider necessary to establish that the System satisfies the requirements notified by us to you from time to time;
(b) 進(jìn)行和提供本公司為證明系統符合本公司不時(shí)告知您的要求而本公司合理認為必要的測試和資料；
 
(c) carry out virus checks on a regular basis; (c) 定期進(jìn)行病毒檢測
 
(d) inform us immediately of any unauthorized access to an Electronic Service or any
unauthorized Transaction or instruction which you know of or suspect and, if within your control, cause such unauthorized use to cease; and
(d) 若發(fā)現或懷疑存在未經(jīng)授權使用電子服務(wù)的情況或未經(jīng)授權而進(jìn)行的交易或指示，立即通知本公司，并（如果在您的控制范圍內）設法使這些未經(jīng)授權的行為停止；及
 
(e) not at any time leave the terminal from which you have accessed such Electronic Service or let anyone else use the terminal until you have logged off such Electronic Service.
(e) 在您退出該電子服務(wù)前，不得在任何時(shí)間離開(kāi)您用來(lái)使用該電子服務(wù)的終端，或讓其它任何人使用該終端。
 
6.9 System defects: In the event you become aware of a material defect, malfunction or virus in the System or in an Electronic Service, you will immediately notify us of such defect, malfunction or virus and cease all use of such Electronic Service until you have received permission from us to resume use.
6.9 系統缺陷：若您知悉系統或電子服務(wù)中有重大缺陷、故障或病毒，則您立即將該缺陷、故障或病毒告知本公司，并停止一切使用該電子服務(wù)，直至您已經(jīng)收到本公司的準許重新使用為止。
 
6.10 Intellectual Property: All rights in patents, copyrights, design rights, trade marks and any other intellectual property rights (whether registered or unregistered) relating to the Electronic Services remain vested in us or our licensors. You will not copy, interfere with, tamper with, alter, amend or modify the Electronic Services or any part or parts thereof unless expressly permitted by us in writing, reverse compile or disassemble the Electronic Services, nor purport to do any of the same or permit any of the same to be done, except in so far as such acts are expressly permitted by law. Any copies of the Electronic Services made in accordance with law are subject to the terms and conditions of this Agreement. You shall ensure that
all the licensors' trademarks and copyright and restricted rights notices are reproduced on these copies. You shall maintain an up-to-date written record of the number of copies of the Electronic Services made by you. If we so request, you shall
as soon as reasonably practical, provide to us a statement of the number and whereabouts of copies of the Electronic Services.
6.10 知識產(chǎn)權：與電子服務(wù)有關(guān)的專(zhuān)利、版權、設計權、商標及任何其它知識產(chǎn)權（不論是否注冊）中的所有權利，始終歸屬于本公司或本公司的特許人。除非獲得本公司書(shū)面明確準許，否則您不得復制、干擾、篡改、變更、修訂或修訂電子服務(wù)或其任何部分；反匯編或分解電子服務(wù)；除非法律明確準許該等行為，否則您不得意圖或實(shí)際作出上述任何行為。根據法律作出的電子服務(wù)的任何副本，均受本協(xié)議的條款及條件規限。您應確保特許人的所有商標和版權及受限權利通告刊印在這些副本上。您應對您作出的電子服務(wù)的副本數目，保留最新書(shū)面記錄。若本公司作出請求，則您應在合理可行情況下，盡快向本公司提供有關(guān)電子服務(wù)副本數目和下落的說(shuō)明。
 
6.11 Liability And Indemnity: Without prejudice to any other terms of this Agreement, relating to the limitation of liability and provision of indemnities, the following clauses shall apply to our Electronic Services.
6.11 責任和賠償保證：在不損害本協(xié)議任何其它條款的原則下，關(guān)于責任限制和提供賠償保證，下列條款應適用于本公司的電子服務(wù)。
 
(a) System errors: We shall have no liability to you for damage which you may suffer as a result of transmission errors, technical faults, malfunctions, illegal intervention in network equipment, network overloads, malicious blocking of access by third parties, internet malfunctions, interruptions or other deficiencies on the part of internet service providers. You acknowledge that access to Electronic Services may be limited or unavailable due to such system errors, and that we reserve the right upon notice to suspend access to Electronic Services for this reason.
(a) 系統錯誤：本公司無(wú)須就因傳送錯誤、技術(shù)過(guò)失、故障、非法干預網(wǎng)絡(luò )設備、網(wǎng)絡(luò )超載、
第三方惡意屏蔽訪(fǎng)問(wèn)、互聯(lián)網(wǎng)故障、中斷或互聯(lián)網(wǎng)服務(wù)提供商的其它不足而令您蒙受的損害，對您負有法律責任。您承認，電子服務(wù)可能由于該等系統錯誤，使用受到限制或不能使用，且本公司保留權利在發(fā)出通知的情況下，出于以上原因而暫停電子服務(wù)的使用。
 
 (b) Delays: Neither we nor any third party software provider accepts any liability in respect of any delays, inaccuracies, errors or omissions in any data provided to you in connection with an Electronic Service.
(b) 延遲：本公司或任何第三方軟件提供商，對向您提供的關(guān)于電子服務(wù)的任何數據中的任
何延遲、不準確、錯誤或遺漏，均無(wú)須承擔任何責任。
 
(c) Viruses from an Electronic Service: We shall have no liability to you (whether in contract or in tort, including negligence) in the event that any viruses, worms, software bombs or similar items are introduced into the System via an Electronic Service or any software provided by us to you in order to enable you to use the Electronic Service, provided that we have taken reasonable steps to prevent any
such introduction.
(c) 來(lái)自電子服務(wù)的病毒：若任何病毒、蠕蟲(chóng)、軟件炸彈或類(lèi)似內容經(jīng)由電子服務(wù)或本公司
為方便您使用電子服務(wù)而提供的任何軟件進(jìn)入系統，本公司概不對您負責（不論是合同或侵權責任，包括疏忽），但前提是本公司已采取合理措施防止此類(lèi)情況發(fā)生。
 
(d) Viruses from your System: You will ensure that no computer viruses, worms, software bombs or similar items are introduced into our computer system or network and will indemnify us on demand for any loss that we suffer arising as a result of any such introduction.
(d) 您系統的病毒：您將確保不會(huì )將計算機病毒、蠕蟲(chóng)、軟件炸彈或類(lèi)似問(wèn)題引入本公司的計算機系統或網(wǎng)絡(luò )，且如果因上述情況導致本公司蒙受任何損失，您將應要求對本公司作出賠償。
 
(e) Unauthorized use: We shall not be liable for any loss, liability or cost whatsoever arising from any unauthorized use of the Electronic Service. You shall on demand indemnify, protect and hold us harmless from and against all losses, liabilities, judgements, suits, actions, proceedings, claims, damages and costs resulting from or arising out of any act or omission by any person using an Electronic Service by using your designated passwords, whether or not you authorized such use.
(e) 未經(jīng)授權使用：本公司無(wú)須承擔因未經(jīng)授權使用電子服務(wù)產(chǎn)生的任何損失、負債或成本。
如果由于或出于使用電子服務(wù)的任何人士通過(guò)使用您的指定密碼（不論您是否授權該使用）的任何作為或不作為令本公司引致或產(chǎn)生任何損失、負債、裁決、起訴、訴訟、法律程序、索賠、損害賠償和成本，您須應要求對本公司作出賠償保證、保護和補償。
 
(f) Markets: We shall not be liable for any act taken by or on the instruction of a Market, clearing house or regulatory body.
(f) 市場(chǎng)：本公司無(wú)須對市場(chǎng)、清算所或監管機構或按其指示采取的任何行動(dòng)負有法律責
任。
 
6.12 Suspension or permanent withdrawal with notice: We may suspend or permanently withdraw an Electronic Service, by giving you 10 days written notice.
6.12 經(jīng)通知暫�；蛴谰贸蜂N(xiāo)：本公司可向您發(fā)出10天書(shū)面通知，暫�；蛴谰贸蜂N(xiāo)電子服務(wù)。
 
6.13 Immediate suspension or permanent withdrawal: We have the right, unilaterally and with immediate effect, to suspend or withdraw permanently your ability to use any Electronic Service, or any part thereof, without notice, where we consider it
necessary or advisable to do so, for example due to your non-compliance with the Applicable Regulations, breach of any provisions of this Agreement, on the occurrence of an Event of Default, network problems, failure of power supply, for maintenance, or to protect you when there has been a breach of security. In addition, the use of an Electronic Service may be terminated automatically, upon the termination (for whatever reason) of (i) any licence granted to us which relates to the Electronic Service; or (ii) this Agreement. The use of an Electronic Service may be terminated immediately if an Electronic Service is withdrawn by any Market or we are required to withdraw the facility to comply with Applicable Regulations.
 
6.13 立即暫�；蛴谰贸蜂N(xiāo)：若本公司認為有必要或適宜，本公司有權單方面和以立即生效的方式，暫�；蛴谰贸蜂N(xiāo)您使用任何電子服務(wù)或其任何部分的能力，而無(wú)須發(fā)出通知，例如，由于您不遵守適用規例、違反本協(xié)議的任何條文、發(fā)生違約事件、網(wǎng)絡(luò )問(wèn)題、停電、檢修，或在出現違反安全情況時(shí)處于保護您之目的。此外，在(i)授予本公司與電子服務(wù)有關(guān)的任何特許權；或(ii) 本協(xié)議（出于任何原因）終止后，可自動(dòng)終止使用電子服務(wù)。若任何市場(chǎng)撤銷(xiāo)電子服務(wù)，或本公司根據適用規例，須撤銷(xiāo)該設施，則可立即終止使用電子服務(wù)。
 
 
6.14 Effects of termination: In the event of a termination of the use of an Electronic Service for any reason, upon request by us, you shall, at our option, return to us or destroy all hardware, software and documentation we have provided you in connection with such Electronic Service and any copies thereof.
6.14 終止的影響：若應本公司請求出于任何原因終止使用電子服務(wù)，則您應（由本公司選擇）向本公司退還或銷(xiāo)毀本公司向您提供的關(guān)于該電子服務(wù)的所有硬件、軟件和文件及其任何副本。
 
7. TITLE TRANSFER OF CASH 7. 現金的所有權轉讓
7.1 Client money: Our services to you are provided on the understanding that you do not require money which is transferred by you to us to be held in accordance with the Client Money Rules. 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, contingent or prospective obligations, and we will not hold such money in accordance with the Client Money Rules. 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. Because the Client Money Rules will not apply, you no longer have a proprietary claim over money transferred to us, and we can deal with it in our own
right. We will 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 judgements as to the future movement of markets and values), as we consider appropriate, consistent with Applicable Regulations.
7.1 客戶(hù)款項：本公司對您服務(wù)乃基于以下共識而提供：即您不要求將您轉予本公司的款項根據客戶(hù)款項規則持有。如果您將款項轉予本公司，本公司將視為該款項的全部所有權轉讓給本公司，以便保證或彌補閣下目前、未來(lái)、實(shí)際、或有或預期責任，且本公司不會(huì )根據客戶(hù)款項規則持有該款項。本公司收到您或第三方向您的賬戶(hù)支付的任何款項，將是本公司對您的負債，即使是在本公司以您的代理人的身份行事的情況下也一樣。由于客戶(hù)款項規則
不適用，您對轉予本公司的款項不再擁有所有人申索權，本公司可以在本公司的權利范圍內處理該款項。如果本公司酌情決定，認為您轉予本公司的款項金額，高于彌補您對本公司的責任所必要的金額，本公司會(huì )將等于超過(guò)部分金額的款項返還予您。確定抵押品金額和本公司對您的負債金額時(shí)，本公司可使用本公司認為符合適用規例的適當方法（包括對未來(lái)市場(chǎng)和價(jià)值變動(dòng)的判斷）。
 
7.2 Definition: In this clause, "Client Money Rules" mean the provisions of the FSA's Client Assets Sourcebook relating to client money for firms carrying out MiFID business.
7.2 定義：本條中，.客戶(hù)款項規則.是指金融服務(wù)管理局《客戶(hù)資產(chǎn)原始資料》中與經(jīng)營(yíng)MiFID（《金融工具市場(chǎng)指令》）業(yè)務(wù)之公司的客戶(hù)款項有關(guān)的條文。
 
8. MARGINING ARRANGEMENTS 8. 保證金安排
8.1 Contingent liability: Where we effect or arrange a Transaction involving an option, future or contract for differences you should note that, depending upon the nature of the Transaction, you may be liable to make further payments when the Transaction fails to be completed or upon the earlier settlement or closing out of your position. You will be required to make further variable payments by way of margin against the purchase price of the investment, instead of paying (or receiving) the whole purchase (or sale) price immediately. The movement in the market price of your investment will affect the amount of margin payment you will be required to make.
8.1 或有負債：本公司執行或安排涉及期權、期貨或差價(jià)合同的交易時(shí)，您應注意，根據交易性質(zhì)的不同，若交易未能完成，或在您的持倉提早結算或帄倉時(shí)，您可能須做出進(jìn)一步付款。您將必須進(jìn)一步支付可變金額付款即就投資買(mǎi)價(jià)繳納保證金，而不是立即支付（或收�。┤�部買(mǎi)價(jià)（或賣(mài)價(jià)）。您的投資的市場(chǎng)價(jià)格變動(dòng)會(huì )影響您須繳納的保證金金額。
 
8.2 Margin call: You agree to pay us on demand such sums by way of margin as are required from time to time under the Rules of any relevant Market (if applicable) or as we may in our discretion reasonably require for the purpose of protecting ourselves against loss or risk of loss on present, future or contemplated Transactions under this Agreement.
8.2 追加保證金通知：您同意按要求，以保證金方式，向本公司支付任何相關(guān)市場(chǎng)不時(shí)規定（如適用）或本公司酌情可合理要求的款項，以保護本公司自己免于對本協(xié)議下現在、將來(lái)或擬訂的交易的損失或損失風(fēng)險。
 
8.3 Failure to meet margin call: Please note that in the event that you fail to meet a margin call, we may (and after five Business Days will) close out the position unless we have previously granted you a loan or credit in accordance with Applicable
Regulations.
8.3 未能遵守保證金要求：請注意，如果您未能遵守保證金要求，除本公司先前已經(jīng)根據適用規例向您批準貸款或信用外，本公司可（并在五個(gè)營(yíng)業(yè)日后將）帄倉。
 
8.4 Form of margin: Unless otherwise agreed, margin must be paid in cash. The currency of the cash margin you pay to us shall be the currency of the relevant underlying Transaction (if applicable) or as we may in our discretion reasonably decide from
time to time. Cash margin is paid to us as an outright transfer of title and you will not retain any interest in it. Cash margin received by us will be recorded by us as a cash repayment obligation owed by us to you.
8.4 保證金方式：除非另有協(xié)定，保證金必須以現金支付。您向本公司支付的現金保證金的貨幣，應為相關(guān)交易（如適用）或本公司酌情可合理不時(shí)決定的貨幣�，F金保證金是在作為徹底轉讓所有權的條件下向本公司支付，而您不會(huì )保留其中任何權益。本公司收到的現金保證金將由本公司記錄為本公司結欠您的現金償還義務(wù)。
 
8.5 Non-cash margin: Where we agree to accept non-cash collateral, it must be in a form acceptable to us. The value of the non-cash collateral and the proportion of that value to be taken into account for margin purposes shall be determined by us in our absolute discretion.
8.5 非現金保證金：若本公司同意接受非現金抵押品，則其必須以本公司可接受的方式。非現金抵押品的價(jià)值和該價(jià)值考慮用于保證金的比例，應由本公司絕對酌情厘定。
 
8.6 Set-off on default: If there is an Event of Default or this Agreement terminates, we shall set-off the balance of cash margin owed by us to you against your obligations (as reasonably valued by us) to us. The net amount, if any, payable between us
following such set-off, shall take into account the Liquidation Amount payable under the Clause headed “Netting” of this Agreement.
8.6 違約時(shí)抵消：若有違約事件或本協(xié)議終止，則本公司應用本公司結欠您的現金保證金余額抵消您對本公司的債務(wù)（按本公司合理估值）。該抵消之后，雙方之間應付款項的凈額（如有），應計入本協(xié)議及根據.凈額結算.一條應付的帄倉金額。
 
8.7 Security interest: As a continuing security for the performance of the Secured Obligations under or pursuant to this Agreement, you grant to us, with full title guarantee, a first fixed security interest in all non-cash margin now or in the future provided by you to us or to our order or under our direction or control or that of a Market or otherwise standing to the credit of your account under this Agreement or otherwise held by us or our Associates or our nominees on your behalf.
8.7 擔保權益：作為根據或按照本協(xié)議履行有擔保債務(wù)的持續擔保，您向本公司授出（有全面所有權擔保），現在或將來(lái)您向本公司提供的，或按本公司的指令，或根據本公司的指示或控制，或市場(chǎng)或其它的指示或控制，或本協(xié)議下您的賬戶(hù)貸方的，或本公司、本公司的聯(lián)系人士或代名人代您持有的，所有非現金保證金的第一固定擔保權益。
 
8.8 Further assurance: You agree to execute such further documents and to take such further steps as we may reasonably require to perfect our security interest over, be registered as owner of or obtain legal title to the margin, secure further the Secured Obligations, enable us to exercise our rights or to satisfy any market requirement.
8.8 進(jìn)一步保證：您同意簽署本公司合理要求的進(jìn)一步文件，和采取本公司合理要求的進(jìn)一步措施，完成對保證金的擔保權益，登記為保證金的擁有人或獲得對擔保金的法定權利，進(jìn)一步為有擔保債務(wù)提供擔保，使本公司能夠行使本公司的權利，或滿(mǎn)足任何市場(chǎng)要求。
 
8.9 Substitution: You may not withdraw or substitute any property subject to our security interest without our consent.
8.9 替代：未經(jīng)本公司同意，您不可撤銷(xiāo)或替代屬于本公司擔保權益的任何財產(chǎn)。
 
8.10 Negative pledge: You undertake neither to create nor to have outstanding any security interest whatsoever over, nor to agree to assign or transfer, any of the cash or non-cash margin transferred to us, except a lien routinely imposed on all securities in a clearing system in which such securities may be held.
8.10 負質(zhì)押：您承諾，不得對轉讓給本公司的任何現金或非現金保證金，設立或擁有任何尚未清償的擔保權益，除了在持有所有有關(guān)證券的清算系統中，對該等證券例行施加的留置權之外。
 
8.11 Power to charge: You agree that we may, to the extent that any of the margin constitutes "financial collateral" and this Agreement and your obligations hereunder constitute a "security financial collateral arrangement" (in each case as defined in, and for the purposes of, the Financial Collateral Arrangements (No. 2) Regulations 2003 (SI 2003 No. 3226) (the "Regulations"), free of any adverse interest of yours or any other person, grant a security interest over margin provided by you to cover any of our obligations to an intermediate broker or Market, including obligations owed by virtue of the positions held by us or other of our clients.
8.11 押記權力：您同意，若任何保證金構成.金融抵押品.，而本協(xié)議及您在本協(xié)議下的債務(wù)構成.擔保金融抵押品安排.（在2003年（SI 2003第3226號）《金融抵押品安排（第2號）條例》（.該條例.）定義的各種情況下，及就該安排而言，免于您或任何其它人士的任何反向權益），本公司可對您提供的保證金授予擔保權益，以彌補本公司結欠中介經(jīng)紀人或市場(chǎng)的任何債務(wù)，包括本公司或其它客戶(hù)因持倉而結欠的債務(wù)。
 
8.12 Power of sale: If an Event of Default occurs, we may exercise the power to sell all or any part of the margin. The restrictions contained in Sections 93 and 103 of the Law of Property Act 1925 shall not apply to this Agreement or to any exercise by us of our rights to consolidate mortgages or our power of sale. We shall be entitled to apply the proceeds of sale or other disposal in paying the costs of such sale or other disposal and in or towards satisfaction of the Secured Obligations.
8.12 銷(xiāo)售權力：若發(fā)生違約事件，本公司可行使權力，出售全部或任何部分保證金。1925年《財產(chǎn)法》第93及103條所載的限制，不適用于本協(xié)議或本公司行使本公司合并按揭的權利或本公司的銷(xiāo)售權力。本公司有權動(dòng)用銷(xiāo)售或其它處置所得款項，支付該銷(xiāo)售或其它處置的成本，以?xún)斶�有擔保債務(wù)。
 
8.13 Power of appropriation: To the extent that any of the margin constitutes "financial collateral" and this Agreement and your obligations hereunder constitute a "security financial collateral arrangement" under the Regulations, we shall have
the right to appropriate all or any part of such financial collateral in or towards discharge of the Secured Obligations. For this purpose, you agree that the value of such financial collateral so appropriated shall be the amount of the margin, together with any accrued but unposted interest, at the time the right of appropriation is exercised. The parties further agree that the method of valuation provided for in this Agreement shall constitute a commercially reasonable method of valuation for the purposes of the Regulations.
 8.13 挪用權力：若任何保證金構成.金融抵押品，而本協(xié)議及您在本協(xié)議下的債務(wù)構成該條例下的.擔保金融抵押品安排.，則本公司有權挪用全部或任何部分該金融抵押品，清償有擔保債務(wù)。就此而言，您同意，所挪用的金融抵押品價(jià)值為保證金額，連同在行使挪用權時(shí)應計但未過(guò)賬的任何利息。各方進(jìn)一步協(xié)定，就該條例而言，本協(xié)議規定的估值方法應構成商業(yè)上合理的估值方法。
 
8.14 General lien: In addition and without prejudice to any rights to which we may be entitled under this Agreement or any Applicable Regulations, we shall have a general lien on all property held by us or our Associates or our nominees on your behalf until the satisfaction of the Secured Obligations.
8.14 一般留置權：除了及不損害本公司根據本協(xié)議或任何適用規例享有的任何權利，本公司應對本公司、本公司的聯(lián)系人士或代名人代您持有的所有財產(chǎn)，擁有一般留置權，直至償還有擔保債務(wù)為止。
 
8.15 Definition: "Secured Obligations" means the net obligation owed by you to us after the application of set-off under the clause headed "Set-off on default" in this Clause.
8.15 定義：.有擔保債務(wù).指根據本條.違約時(shí)抵消.一條動(dòng)用抵消后，您結欠本公司的凈債務(wù)。
 
9. REPRESENTATIONS, WARRANTIES AND COVENANTS 9. 陳述、保證和契諾
9.1 Representations and warranties: You represent and warrant to us on the date this Agreement comes into effect and as of the date of each Transaction that:
9.1 陳述和保證：您在本協(xié)議生效日期和各交易日期，向本公司陳述和保證：
 
(a) you have reached the age of 18 years or over and have full capacity to enter into this Agreement;
(a) 您已經(jīng)年滿(mǎn)18周歲或以上，并具有訂立本協(xié)議的完全行為能力。
 
(b) you have all necessary authority, powers, consents, licences and authorisations and have taken all necessary action to enable you lawfully to enter into and perform this Agreement and such Transaction and to grant the security interests and powers referred to in this Agreement;
(b) 您擁有所有必要權限、權力、同意、特許權和授權，并已經(jīng)采取所有必要行動(dòng)，使您能夠合法訂立并執行本協(xié)議及該交易，并授予本協(xié)議中所述的擔保權益和權力；
 
(c) the persons entering into this Agreement and each Transaction on your behalf have been duly authorized to do so;
(c) 代您訂立本協(xié)議和各項交易的人士，已經(jīng)正式獲授權如此行事；
 
(d) this Agreement, each Transaction and the obligations created under them both are
binding upon you and enforceable against you in accordance with their terms (subject to applicable principles of equity) and do not and will not violate the terms of any regulation, order, charge or agreement by which you are bound;
(d) 本協(xié)議、各項交易和據此兩者產(chǎn)生的債務(wù)，按照它們的條款（受限于適用的衡帄法原則）對您具有約束力，并可對您強制執行，而并無(wú)且不會(huì )違反您受約束的任何規例、指令、押記或協(xié)議的條款；
 
(e) no Event of Default or any event which may become (with the passage of time, the giving of notice, the making of any determination or any combination of the above) an Event of Default (a "Potential Event of Default") has occurred and is continuing with respect to you or any Credit Support Provider;
(e) 您或任何信用支持提供商，并無(wú)發(fā)生和續存任何違約事件，或（隨著(zhù)時(shí)間流逝、發(fā)出通知、作出任何決定或上述任何多種原因）可成為違約事件的任何事件（.潛在違約事件.）；
 
(f) you act as principal and sole beneficial owner (but not as trustee) in entering into this Agreement and each Transaction;
(f) 您作為主事人和惟一實(shí)益擁有人（而非受托人），訂立本協(xié)議及各項交易；
 
(g) any information which you provide or have provided to us in respect of your financial position, domicile or other matters is accurate and not misleading in any material respect;
(g) 您向本公司提供或已經(jīng)提供的有關(guān)您財務(wù)狀況、住址或其它事項的任何資料，在任何重大方面，準確而沒(méi)有誤導性；
 
(h) you are willing and financially able to sustain a total loss of funds resulting from Transactions;
(h) 您愿意并在經(jīng)濟上能夠承擔因交易虧損全部資金的情況；
 
(i) your trading will not be part of or relate to a “tax shelter” as that term is defined in the Income Tax Act (Canada) and that in this regard you have sought and received independent tax advice from a competent licensed tax professional;
(i) 您的交易不會(huì )構成.避稅.的一部分或與其有關(guān)，該詞定義見(jiàn)加拿大《所得稅法》，而在此
方面，您已經(jīng)尋求和收到合格持牌稅務(wù)專(zhuān)家的獨立稅務(wù)意見(jiàn)；
 
(j) except as otherwise agreed by us, you are the sole beneficial owner of all margin you transfer under this Agreement, free and clear of any security interest whatsoever other than a lien routinely imposed on all securities in a clearing system in which such securities may be held.
(j) 除非本公司另有協(xié)定，您是您根據本協(xié)議轉讓的所有保證金的惟一實(shí)益擁有人，除了在持有所有有關(guān)證券的清算系統中，對該等證券例行施加的留置權之外，免于和無(wú)任何擔保權益。
 
9.2 Covenants: You covenant to us that: 9.2 契諾：您向本公司契諾：
(a) you will at all times obtain and comply, and do all that is necessary to maintain in full force and effect, all authority, powers, consents, licences and authorisations referred to in this clause;
(a) 您將在始終獲得及遵守本條中提述的所有權限、權力、同意、許可和授權，并做出所有
必要的事情，使之維持十足效力及作用。
 
(b) you will promptly notify us of the occurrence of any Event of Default or Potential Event of Default with respect to yourself or any Credit Support Provider;
(b) 如出現任何有關(guān)您或任何信用支持提供者的違約事件或潛在違約事件，您將立即通知本
公司；
 
(c) you will use all reasonable steps to comply with all Applicable Regulations in relation to this Agreement and any Transaction, so far as they are applicable to you or us;
(c) 您將采取所有合理措施遵守與本協(xié)議和任何交易有關(guān)的所有適用于您或本公司的適用規
例；
 
(d) you will not send orders or otherwise take any action that could create a false impression of the demand or value for a security financial instrument, or send orders which you have reason to believe are in breach of Applicable Regulations. You shall observe the standard of behaviour reasonably expected of persons in your position and not take any step which would cause us to fail to observe the standard of
behaviour reasonably expected of persons in our position; and
(d) 您不會(huì )發(fā)出可能造成證券金融工具需求或價(jià)值假象的指令或采取其它任何可能造成此類(lèi)
假象的行動(dòng)，也不會(huì )發(fā)出您有理由認為違反適用規例的指令。您應遵守人們對處于您狀況之人士合理期望的行為準則，而不得采取將會(huì )導致本公司無(wú)法遵守人們對處于本公司狀況的人士合理期望的行為準則的任何措施；及
 
(e) upon demand, you will provide us with such information as we may reasonably require to evidence the matters referred to in this clause or to comply with any Applicable Regulations.
(e) 您將應要求向本公司提供本公司為證明本條中提述的事宜或遵守任何適用規例而可能合
理要求的資料。