Trading Member’s Duty to Inform Customers of Position Limits. It shall be the responsibility of each Trading Member and Trading Representative accepting orders for opening transactions (purchase or written) in Options to inform customers of the applicable position limits and not to accept orders from any customer if the Trading Member or Trading Representative has reason to believe that the customer, acting alone or in concert with others, has exceeded or is attempting to exceed such position limits. (a) all options transactions shall be subject to the Rules and Directives of SGX-ST and all other Applicable Laws; (b) the Customer will not violate, either alone or in concert with others, the individual position limits established pursuant to the Rules and Directives of the SGX-ST; (c) the Customer has received (1) an explanatory booklet (together with all updates thereto) containing information to investors on the trading of options; and (2) a risk disclosure statement in such form and manner as may from time to time be approved or prescribed by the Options Clearing Company (Pte) Limited or its successor company, and the Customer has read and understood the contents thereof and is aware of the special risks involved in the trading of options as outlined therein; (d) if at any time the Customer should exceed the individual position limits prescribed by SGX-ST, his outstanding options positions in excess of the individual position limit shall be liable to be closed out and any losses, charges and expenses arising from the closing of his options positions shall be charged to his account; and (e) the Customer shall at all times promptly furnish, maintain and top-up such deposits and margins as shall be required by UOBBF from time to time in respect of the short positions in his options trading account.
Appears in 2 contracts
Sources: Client Agreement, Client Agreement