Closing a Position Clause Samples
The 'Closing a Position' clause defines the process and conditions under which a party may end or settle an open financial position or contract. Typically, this involves executing a transaction that offsets the original position, such as selling an asset that was previously bought or buying back an asset that was previously sold short. This clause ensures that both parties understand how and when positions can be closed, thereby reducing uncertainty and managing risk exposure in trading or contractual relationships.
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Closing a Position. In order to give an instruction to close a position the Client shall specify the ticker and transaction size.
Closing a Position.
9.1. An Open Position can be closed:
a) manually by you in the Platform;
b) automatically when the Stop Loss is hit;
c) automatically when Take Profit is hit; or
d) automatically when the margin level drops below the Margin Close Out Level.
Closing a Position a. at any time, you may give Soho Markets, by telephone or otherwise, notice of your intention to close any position (whether in whole or part) by specifying the underlying instrument and the proportion of the position that you wish to close;
b. upon receipt of a closing notice. Soho Markets shall use reasonable endeavours to provide a quote for the closing price and notify you of that quote (by telephone or otherwise) — it is your obligation to notify Soho Markets as soon as possible (by telephone or otherwise) as to whether you are willing to accept the closing price — should you accept the closing price of the position, or relevant portion of the position, will be closed on the closing date;
c. at the close of business on the closing date, should there be a difference between the closing value and the contract value of the open position (or portion of it), it must b= accounted for in the following way:
(i) should the closing value be greater than the contract value, the short party must pay to the long party the difference; and
(ii) should the closing value be less than the contract value, the long party must pay to the short party the difference;
d. if a company, whose instrument represents all or part of the subject matter of a Forex or CFD position becomes externally administered within the meaning of the 11 ROC, the Forex or CFD position is taken to have been closed at the time that such administration commences — the closing price shall be determined by Soho Markets who may have regard to any factors it considers appropriate including, for example, the last traded price of the underlying instrument;
e. without limiting Soho Markets's discretion, if any of the underlying instrument ceases to be quoted on a relevant exchange, or is suspended from quotation, or subject to a trading halt for 5 or more consecutive business days. Soho Markets may, in its absolute discretion, elect to terminate the relevant Forex or CFD contract by providing written notice to you;
f. if at any time a take-over offer is made in respect of an underlying instrument, then at any time offer. prior to the closing date of such or Soho Markets may close the Forex , offer, CFD position — references to this 'take- over' and 'closing date' in same meanings Client Agreement have the given to them in the IIROC;
g. it may not be possible to close out a tradingposition if there is a suspension of or a trading halt in respect of the underlying security — in such a circumstance. Soho Mark...
Closing a Position a. at any time, you may give EightCap, by telephone or otherwise, notice of your intention to close any position (whether in whole or part) by specifying the underlying instrument and the proportion of the position product transaction positions until it has confirmed the receipt of the margin call amount in the form of cleared funds.
(4) Any exercise by EightCap of any power or right under this clause, including, without limitation, the calling of margin, shall be binding on you.
(5) Where you trade via the trading platform, margin calls will be notified via email/trading platform, and you are required to log in to the system on a daily that you wish to close;
Closing a Position. 4.1 In order to give an Instruction to close a position, the Client shall specify the following:
(a) Ticket; and
Closing a Position. If there has not yet been a knock-out event, the transaction may be closed during its lifetime, in which case the Bank will make an offer to close the transaction based on its market value, which may be positive or negative for the Client. A Knock-out Forward transaction can only be closed this way and a plain forward transaction in the opposite direction does not close the hedge position as it lacks the knock-out feature of the original position.