Option Accounts Clause Samples
Option Accounts. All options transactions and exercises are subject to the rules and customs of The Options Clearing Cor- poration and of the marketplace where they are executed, as well as to Applicable Laws. Commissions and other charges related to the execution of option transactions are included on the confirmations for such transactions, which will be sent to you (copies of confirmations are available upon request).
Option Accounts. Before engaging in option trading for any customer, Broker shall deliver to the customer a current disclosure statement of the Options Clearing Corporation and any effective supplements. Broker shall obtain the required signatures on all option agreements, shall obtain proper approval of the opening of all option accounts and shall otherwise comply with all applicable laws, rules and regulations relating to options accounts and option trading. Broker shall deliver to Pershing a copy of a signed option agreement for each customer approved by it for options trading in a form acceptable to Pershing.
Option Accounts. Before engaging in option trading for any customer, Introducing Firm shall deliver to customer a current disclosure statement of the Options Clearing Corporation, the Special Statement for Uncovered Option Writing, and any effective supplements. Introducing Firm shall obtain the required signatures on all option agreements, shall obtain proper approval for the opening of all option accounts, and shall otherwise comply with the rules applicable to options accounts and options trading. Introducing Firm shall deliver to Clearing Agent a copy of a signed option agreement for each customer approved by it for options trading in a form acceptable to Clearing Agent.
Option Accounts. Before a Customer Account may engage in option trading, Correspondent shall deliver to Customer a current disclosure statement of the Options Clearing Corporation, the Special Statement for Uncovered Option Writing, and any effective amendments or supplements thereto. Correspondent shall obtain the required signatures on all option agreements, shall obtain proper approval for the opening of all option accounts, and shall otherwise comply with the Applicable Laws and Rules applicable to options accounts and options trading. Correspondent shall deliver to Ridge a copy of a signed option agreement for each Customer approved by Correspondent for options trading, such agreement to be in a form acceptable to Ridge.
Option Accounts. Before engaging in option trading for any Customer, Correspondent shall deliver to Customer a current disclosure statement of the Options Clearing Corporation, the Special Statement for Uncovered Option Writing, and any effective supplements. Correspondent shall obtain the required signatures on all option agreements, shall obtain proper approval for the opening of all option accounts, and shall otherwise comply with the Laws and Rules applicable to options accounts and options trading. Correspondent shall deliver to ICS a copy of a signed option agreement for each Customer approved by it for options trading in a form acceptable to ICS.
Option Accounts. In the event that any customer elects to engage in listed securities options transactions in an Account accepted by FSWC, or CLAY enters securities options transactions in an Account accepted by FSWC, CLAY agrees to (i) abide by FSWC's requirements and time limitation for accepting an exercise notice with respect to a Customer's options positions, which requirements and time limitations may be different from the minimum requirements imposed by the Options Clearing Corporation ("OCC") or other regulatory or self-regulatory organization from time to time, (ii) determine the suitability of the Customer for trading options and approving specific options strategies and transactions, (iii) provide the Customer with a current copy of the OCC disclosure document and applicable updates as published from time to time by OCC (and complying with such other requirements involving the dissemination of disclosure documents, including prospectuses, as may be required from time to time by applicable law), and (iv) notify the customer when customer has been assigned delivery responsibility regarding any short options positions, and accept exercise notices from the customer regarding long options positions.
Option Accounts. In the event that any Customer elects to engage in listed options transactions in an Account or Broker enters or executes options transactions for an Account, Broker agrees to (i) abide by ConvergEx’s requirements and limitations for accepting an exercise notice with respect to each options position, which requirements and limitations may be different from the minimum requirements imposed from time to time by the Options Clearing Corp. (“OCC”) or other SRO, (ii) determine the suitability of the Customer for trading options and for specific options strategies, (iii) provide the Customer with a current copy of the OCC disclosure document and applicable updates as published from time to time by OCC (and complying with such other requirements involving the dissemination of disclosure documents, including prospectuses, as may be required from time to time by Applicable Regulations), and (iv) notify the Customer when the Customer has been assigned delivery responsibility regarding any short options positions, and accept exercise notices from the Customer regarding long options positions.
Option Accounts. 4 3.1.4 Proprietary Accounts...........................................4 3.1.5 Customer Complaints............................................4 3.1.6 Lost, Stolen and Forged Securities.............................5 3.1.7 Placement Activities...........................................5 3.1.8 Marketmaking...................................................5 3.1.9 Restricted and Control Stock Requirements......................5 3.1.10
Option Accounts. In order for you to engage in option transactions, you must complete and submit an “Options Account Application” and acknowledge that you understand the risks associated with trading in options. You should receive, read and fully understand the terms, conditions and risks of options trading as set forth in the option disclosure booklet issued by the Options Clearing Corporation, and you must provide TBI with pertinent financial information and a statement of your investment objectives. Should your financial situation or your investment objectives change, you must notify TBI immediately. Notice to TBI, however, will not bind FSC, and FSC may continue to accept orders for your Account until you notify FSC in writing to no longer accept instructions from TBI. Before purchasing or selling (writing) an option, you should be completely informed of the risks involved. Familiarize yourself with the business and financial condition of the issuer of the underlying security. Carefully consider if the option transaction is appropriate, relative to your financial situation, investment objectives and tax considerations. The purchase and/or sale (writing) of PUT and CALL options involve a high degree of risk and are not suitable for all investors. You should not purchase an option unless you are capable of sustaining a total loss of the premium (cost of the option) and other related costs of purchasing the option. You should not sell (write) an option unless you own the underlying security or are in a position to assume the substantial risks inherent in writing “naked” options. When purchasing an option, you must pay the full premium. An option purchase cannot be margined. There are special margin requirements governing the sale of options you must understand prior to commencing an option- writing program. FSC has stringent rules regarding short options. Details of these rules and margin requirements for options are available through TBI. When you purchase an option, FSC must pay the selling broker the day after the transaction, making your payment also due on that date. TBI should be able to advise you of the amount you owe on the day of the transaction. Option contracts are traded for a specified period of time and may lose their entire value upon expiration. You must advise TBI if you want to enter offsetting transactions by closing out your position or exercising the option prior to the expiration date. Failure to do this may result in the option expiring “worthless,...
Option Accounts. In the event that any Customer elects to engage in listed options transactions in an Account and BNYCS accepts the options account or Broker enters options transactions in an Account accepted by BNYCS, Broker agrees to (i) abide by BNYCS' requirements and time limitation for accepting an exercise notice with respect to each Account's options positions, which requirements and time limitations may be different from the minimum requirements imposed by the Options Clearing Corp. ("OCC") or other SRO from time to time, (ii) determine the suitability of the Customer for trading options and approving specific options strategies, (iii) provide the Customer with a current copy of the OCC disclosure document and applicable updates as published from time to time by OCC (and complying with such other requirements involving the dissemination of disclosure documents, including prospectuses, as may be required from time to time by Applicable Regulations), and (iv) notify the Customer when Customer has been assigned delivery responsibility regarding any short options positions, and accept exercise notices from the Customer regarding long options positions.