SWISS FINANCE CORPORATION

Transcription

1 SWISS FINANCE CORPORATION PROFESSIONAL CLIENT AGREEMENT

2 SWISS FINANCE CORPORATION LIMITED 33 CAVENDISH SQUARE LONDON W1G 0PW UNITED KINGDOM GENERAL: (44-20) FOREX: (44-20) FAX: (44-20) SABX REUTERS DEALING: WEBSITE: Terms of Engagement We are pleased to enclose our Terms of Engagement, which set out that we will provide foreign exchange margin netting line facilities to you. Swiss Finance Corporation Limited (Swiss Finance) is regulated by the Financial Conduct Authority (FCA). It is entered on the FCA s register of authorised firms with number The FCA is an independent, non-governmental body, given statutory powers by the Financial Services and Markets Act, 2000 to regulate firms that provide investment services in the United Kingdom. Its address is 25 The North Colonnade, Canary Wharf, London E14 5HS. Under the FCA s New Conduct of Business Sourcebook which implements the Markets in Financial Instruments Directive (MiFID), we are proposing to treat you as a Professional Client. Please note that in order for us to be able to justify this categorisation and process your application further, it may be necessary to obtain sufficient evidence of your expertise, knowledge and experience in the financial markets and so we would ask you to complete the Knowledge and Experience form which is attached These rules allow you, as the client, to request to be re-classified, i.e. to be treated as a Retail Client (increasing the level of regulatory protection) or as an Eligible Counterparty (decreasing the level of regulatory protection) rather than as a Professional Client. Accordingly we enclose a Client Re-Categorisation Request Form which we would ask you to complete, either confirming you wish to be treated as a Professional Client or requesting to be treated as a Retail Client or as an Eligible Counterparty. Please note we are not obliged to accept any such request to be re-categorised. In particular, if you are seeking to be classified as a Retail Client, this may prevent us undertaking business with you. By classifying you as a Professional Client you will lose those protections which are afforded only to Retail Clients under the FCA s rules. Furthermore if you are requesting to be treated as an Eligible Counterparty, you will also lose those protections, which are afforded to a Professional Client and not to Eligible Counterparties. The rules also require us to give you written warning of the protections that you will lose as a result of being treated as a Professional Client instead of a Retail Client or as an Eligible Counterparty. Accordingly, we enclose a Loss of Protection Notice for Professional Clients and Eligible Counterparties. Please read the Notice carefully. We are also required to satisfy ourselves as to your identity for the purposes of anti-money laundering regulations. Accordingly, we enclose a client information form, which explains how you can provide us with appropriate evidence of your identity. Please complete, Client information (Section A), Knowledge and Experience Information (Section B) and sign the Client Declaration (Section E) and the Client re-categorisation Request (Section F). Finally, initial all pages of this pack, and send it together with the appropriate identification evidence (as per Section A) to our Compliance Officer, Sanjay Amin, at the above address. Authorised and regulated by the Financial Conduct Authority Swiss Finance Corporation Limited Registration No l VAT Registration No

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4 I N D E X Professional Client Agreement SECTION PAGE A CLIENT INFORMATION 2 B KNOWLEDGE AND EXPERIENCE INFORMATION 4 C LOSS OF PROTECTIONS NOTICE FOR PROFESSIONAL CLIENTS 5 D PROFESSIONAL CLIENT AGREEMENT ( Agreement ) 6 E CLIENT DECLARATION 10 F RECATEGORISATION OF CLIENT CLASSIFICATION 11 G APPOINTED TRADERS KNOWLEDGE AND EXPERIENCE INFORMATION 12 H ADDITIONAL INFORMATION 13 1

5 S E C T I O N A Client information General information ACCOUNT NAME TICK AS APPROPRIATE: Company Partnership Individual Trust LLP ADDRESS (of Registered Office if company, LLP) NAME AND ADDRESS REQUIRED ON CONTRACTS AND STATEMENTS (if different from above) STATE THE REQUIRED FREQUENCY OF DAILY REPORTS STATE THE FORM OF REPORTS REQUIRED: fax mail other COMPANY REGISTRATION NUMBER (if applicable) COUNTRY TAX DOMICILED NATURE OF BUSINESS CONTACT DETAILS TEL / HOME (if applicable) TEL / OFFICE MOBILE FAX NAME AND ADDRESS OF BANKERS SORT CODE / SWIFT ADDRESS ACCOUNT NAME 2 ACCOUNT NUMBER NAME OF OFFICER

6 S E C T I O N A General information continued PERSONS / TRADERS AUTHORISED TO GIVE INSTRUCTIONS IN RESPECT OF FOREIGN EXCHANGE TRANSACTIONS Name of Trader Signature of Trader accepting authority Signature of authorising authority SIGNATORIES AUTHORISED TO INSTRUCT NON-DEALING MATTERS Signature of Individual Name accepting authority Signature of authorising authority Identity verification - Documentation required In order to comply with the increasing money laundering regulations in the United Kingdom, we are obliged by law to obtain the following documents, prior to opening an account on your behalf (please note that where certified copies are required, these must be certified before a solicitor or a notary public, unless the client is known personally to a member of the staff of Swiss Finance, in which case that member of staff can certify these documents him/herself). 1) If the account is to be established in the name of one or more individuals, please provide for each individual: a) certified copy of passport b) Proof of home address (e.g. a utility bill and/or bank reference) 2) If the account is to be established in the name of a company or LLP please provide: a) Copy of the most recent set of audited financial statements (if not available please provide an original (or certified copy) of a recent bank statement or utility bill, evidencing the company s or LLP s address). b) A certificate of incorporation c) A copy of the Memorandum and Articles of Association or similar document d) Documentary evidence of authorised signatories and specimen of their signatures e) A copy of the resolution authorising a foreign exchange netting account to be opened with Swiss Finance Corporation Limited and authorising the signatory who is to sign the account forms. f) For one director and one influential shareholder provide Director Shareholder 3) If the account is to be established in the name of a trust, please provide: a) Copy of the trust instrument b) List of trustees A clear signature sample One original (or certified copy) of a utility bill or bank statement Certified copy of passport Social Security number equivalent (US only) c) List of beneficiaries (if available) d) If a trust company, extract from board minutes approving the opening of this account and designating those authorised to give instructions e) Certified copies of passports for at least two trustees f) Proof of home address of these trustees 3

7 S E C T I O N B Knowledge and experience information Please provide us with the following information so that we can ascertain whether it is appropriate to categorise you as a Professional Client. A Professional Client is a client considered to be more experienced and knowledgeable in the market in which they propose to deal as well as able to assess their own risk and are afforded fewer regulatory protections. Before providing any designated investment business, Swiss Finance is required by the FCA to categorise all clients. See also Section G Appointed Traders knowledge and experience. 1. Please indicate the number of years of experience you have had in the foreign exchange markets 2. Please indicate the overall frequency of your previous dealings in the foreign exchange markets (times per month) 3. Please indicate the typical size of transactions initiated by yourself in the foreign exchange market 4. In what capacity have you been active in the foreign exchange markets? Advisory Execution only Discretion given to third party 5. Are your trading activities performed on a speculative or hedging basis? 6. Please give details of any other experience in any other financial market 7. On the basis of your knowledge and experience, do you understand the risks of dealing in the foreign exchange markets and the potential for loss of capital in excess of your original investment? Yes No 4

8 Loss of protection notice for Professional Clients S E C T I O N C Under the FCA New Conduct of Business rules we have a statutory obligation to make you aware of the following: A Professional Client is a client considered to be more experienced and knowledgeable in the market in which they propose to deal as well as able to assess their own risk and are afforded fewer regulatory protections. On the basis of the information you will give, or have given to us, and other information available to us, we will categorise you as a Professional Client, by reason of your experience and understanding, in relation to foreign exchange dealing. Accordingly you will lose all of the protection afforded to the Retail Client (apart from those which are also provided to Professional Clients) under the FCA New Conduct of Business Rules ( the Rules ). Your attention is drawn, in particular to the following protections, which will not apply to Professional Clients (it should be noted that the following is a comprehensive list of rules that need to be disclosed to you and that, not all apply to the services that Swiss Finance offers): Suitability and appropriateness In assessing the suitability or appropriatness of any transaction or investment it will be assumed that you, as a Professional Client have sufficient knowledge and expertise to understand the risks associated with that transaction or investment and in relation to the assessment of suitability you will have sufficient financial resources to bear the risk associated with such transaction or investment. Financial Ombudsman Service Access to the financial ombudsman service will not extend to you as a Professional Client. Any complaint you make will be dealt with under our internal complaints procedure. Disclosure of detailed information on the services We will not be required to disclose to you in writing certain detailed information, which we are required to disclose to Retail Clients. This includes additional detailed information on charges, remuneration and commission. Communication We may have regard to your expertise as a Professional Client when complying with the rules that require that our communication be clear, fair and not misleading. Financial promotion Certain rules relating to financial promotions to clients or potential clients, including the requirement that the financial promotion must be fair, clear and not misleading, be identifiable as such and contain certain specific information do not apply. Direct off financial promotions We will not be obliged to comply with the rules relating to restrictions on and the required contents of direct offer financial promotions. If you have any queries regarding this notice or require any further information, please contact our Compliance Officer 5

9 S E C T I O N D Professional Client Agreement ( Agreement ) This Agreement sets out the terms on which we will provide foreign exchange margin netting line facilities to you. This Agreement shall be effective from the date we receive from you the signed Client Declaration form (Section E). This Agreement contains legally binding terms of business and so it is in your interest to read it carefully. If there is anything in this Agreement that you do not understand please contact us as soon as possible. Please note that if you place any orders with us or otherwise engage our services, you will be deemed to have accepted our terms. The terms and conditions on which we will provide you with investment services are the following: 1. Our dealing relationship For the purpose of Financial Conduct Authority (FCA) rules we propose to treat you as a Professional Client. We are covered by the Fianacial Service Compensation Scheme. You may be entitled to compensation from the scheme if we cannot meet our obligations. Further information about compensation arrangements is available from the Financial Service Compensation Scheme. 2. Our services The Trading facility offered by Swiss Finance does not include physical delivery of foreign currency by Swiss Finance to yourselves. We will provide you with Margin Trading facilities in relation to foreign exchange and in doing so we will deal as principal with yourselves. 3. Advice and suitability Swiss Finance does not provide investment advice; occasionally Swiss Finance may express an opinion on the currency market, which is normal market practice. Such an opinion will not constitute investment advice, and no reliance may be placed upon it, as it is not the aim of Swiss Finance to provide investment advice. 4. Best execution In executing transactions for you we are required by the FCA rules to achieve the best possible result for you in doing do in circumstances in which we are acting on your behalf. This is known as the duty of best execution. Information on our best execution policy is summarised below. You agree that the terms of the best execution policy will apply where we are executing orders for you. You also agree to our executing orders outside regulated markets and multilateral trading facilities (as defined in the FCA Rules). When executing orders on your behalf, we will take all reasonable steps to obtain the best possible result for you by taking into account a number of factors including price, costs, speed, likelihood of execution and settlement size, nature and any other consideration which we believe is relevant. We will ordinarily give the price and the costs relating to the execution of your order the highest priority in obtaining the best result for you, although there may be circumstances where we reasonably determine that another factor is more important. An Execution Venue with Swiss Finance, means a Regulated Market, a firm that executes orders off its own book, a market maker, or other liquidity provider (or any entity outside the European Economic Area which performs a similar function to any of these). We have a list of the Execution Venues that we use; this is not exhaustive but it comprises those Execution Venues on which we place significant reliance. We reserve the right to use another Execution Venue where we consider that it is appropriate, in the light of our Execution Policy and we may from time to time add or remove an Execution Venue from this list. We will regularly assess the Execution Venues available in respect of any products that we trade, to identify those that will enable us, on a consistent basis, to obtain the best possible result when executing orders. When you provide us with a specific instruction as to the execution of an order that cannot be carried out in accordance with our Execution Policy, our Execution Policy may not apply and we will execute your order in accordance with your specific instructions. We will monitor compliance with our Execution Policy and we will review the effectiveness of our Execution policy at least annually. Whenever a material change occurs that affects our ability to obtain the best possible result for our clients, we will amend this Policy as appropriate. We will let you know if we make any material changes to the Execution Policy. 6

10 Professional Client Agreement ( Agreement ) continued S E C T I O N D 5. Charges and commission Swiss Finance normally does not charge any commission on foreign exchange transactions. Should a different arrangement be agreed for a customer, this different arrangement will form part of this agreement and will be negotiated and disclosed separately. 6. Your money Swiss Finance will be treating you as a Professional Client and as such any monies placed with the company will not be subject to the client money rules stipulated in the New Conduct of Business sourcebook issued by the FCA. This is due to the fact that the monies placed with Swiss Finance is not client money because the business is in the name of the firm and the money has been transferred under a title transfer arrangement as per the following two rules of the New Conduct of Business Rules: Business in the name of the firm Money is not client money where the firm carries on business in its own name on behalf of the client where that is required by the very nature of the transaction and the client is in agreement. Title transfer collateral arrangements Where a client transfers full ownership of money to a firm for the purpose of securing or otherwise covering present or future, actual or contingent or prospective obligations, such money should no longer be regarded as client money. 7. Rollover Swiss Finance will, upon each value date change, proceed to rollover all open currency positions to the susequent value date. 8. Conflicts of interest When we execute a transaction on your behalf, we may have an interest, relationship or arrangement that is material to all or any part of the information or services being provided to you. We take the identification and management of conflicts of interest seriously. We have implemented a conflict of interest policy that identifies those circumstances that constitute, or may give rise to conflicts of interest which pose a material risk of damage to the interests of one or more of our clients. This policy also addresses the effective organisational and administrative arrangements that we maintain and operate to manage these conflicts, such as departmental procedures and management arrangements, periodic testing of such measures and staff training. A summary of our conflicts of interest policy can be provided. If, in respect of a specific conflict of interest which arises, we consider that the arrangements are not sufficient to enable us to ensure, with reasonable confidence, that the risk of damage to your interests and the interests of our other clients will be prevented, we will decline to act or we will inform you of the nature and type of conflict of interest before we undertake any business on your behalf that may be affected by this conflict. You will then be able to decide whether you agree to us acting for you in these circumstances. If you object to our acting for you, you should notify our Compliance Officer, in writing. 9. Aggregate line facility The customer is granted, under this agreement, a line facility. The amount of the aggregate line facility granted is stipulated in the trade agreement. The trade agreement forms part of this agreement. 10. Spread Betting Spread bets are leveraged products and carry a high level of risk so you should only speculate with money you can afford to lose. Stop-losses are automatically allocated with each bet you make. All stops are not guaranteed. You can lose more than your initial deposit and stake. Before you open an account, please ensure that spread betting matches your investment objectives, familiarise yourself with the risks involved and if necessary seek independent advice. 10. Margin requirements The customer agrees to maintain on deposit with Swiss Finance a percentage of the equivalent dollar value of the total open long or short positions, whichever is greater as stipulated in the trade agreement or any other amount as stipulated in the trade agreement. Cross currency trades (i.e. foreign currency versus foreign currency) will be margined at a percentage of the dollar value of the singular currency with the higher translated dollar value, the percentage will be as stipulated in the trade agreement. Prices used for margining will be 8.00pm London closing rates as determined by Swiss Finance or other such prices as Swiss Finance may in its discretion deem appropriate. Swiss Finance reserve the right to make interim margin calls at it s discretion and as market circumstances dictate. 7

11 S E C T I O N D Professional Client Agreement ( Agreement ) continued Upon rollover positions on prompt date and/or actual closeouts of positions, debits or credits accruing to the customer will be settled through the margin account. If for any reason the margin account falls below the initial pre-agreed margin deposit amount and/or the value of open positions have a market-to-market loss (i.e. the market price for the theoretical liquidation at that point in time would create a loss for the customer), the customer will be called to settle the differential with same day cleared funds (i.e. bank transfer). In the event that a the customer fails to meet a margin call, then Swiss Finance will have the right to close out any outstanding position(s) and settle the resultant profit or loss against the customer s account. This account is subject to a close out limit as stipulated in the trade agreement. 11. Instructions We shall be entitled to rely on and treat as binding any instructions, which we reasonably believe to be from you, or from authorised trades listed on the client information form (whether received by telephone, Reuters dealing, facsimile, telex or in writing) which we have accepted in good faith. We reserve the right not to act on your instructions in the event that it is not possible to carry them out, if market conditions change, if we need clarification, if we fail to receive the instructions during normal business hours or in reasonably sufficient time for us to act upon them. We may also refuse to follow your instructions if in our opinion, compliance therewith would be contrary to any applicable laws or regulations or if to do so would, in our bona fide opinion, be unreasonable in the circumstances. You agree that we shall not incur any liability to you for placing reliance on or acting on any forged or unauthorised instructions or communication, which appears on its face to be genuine. 12. Non-contact Swiss Finance reserves the right to close out a customer s open position in the event that the customer cannot be contacted. Prior to exercising this right, Swiss Finance will attempt to contact the customer through normal channels. If this is unsuccessful, a courier notice will be sent to the customer, at their last known address, advising the customer that their position will be closed if no contact is made within 5 working days. 13. Default If for any reason, a debit balance arises on your account it should then be settled on demand. We retain the right to charge interest, at market rates on any debit balances. 14. Telephone recording In order to assist us in monitoring with relevant rules of conduct and to avoid misunderstandings, we may make and keep recordings of our telephone conversations. Our recordings shall be and remain our sole property, and will be accepted by you as conclusive evidence of the orders, instructions or converstaions so-recorded. You agree that we may deliver copies or transcripts of such recordings to any court or regulatory framework. 15. Confidentiality We attach great importance to client confidentiality. However, we reserve the right to disclose any information about you or your investments that is requested by the FCA or any other body to whom we are otherwise required by law or applicable regulations to disclose such information Liability Neither we nor any person connected with us, nor any of our or their respective directors, employees or agents, have any responsibility or liability whatsoever in the absence of negligence, fraud or willful default by us: For any loss or loss of profit as a result of any advice or opinion which may be given or expressed by us or any of them to you in good faith concerning any foreign exchange deal: For any expense, loss or damage suffered by you as a result of our or their carrying out your transactions or being unable, for reasons outside our or their control (including the failure or delay by any bank or counterparty), to carry out your instructions either at all or on a timely basis: For any indirect or consequential loss: For any loss arising from any damage to your business or reputation: or For any loss, damage or expense (whether or not similar to the above) arising in connection with this agreement or the provision of our services under it. However, nothing in this agreement shall seek to exclude or restrict any duty or liability, which we have in relation to you under the Financial Services and Markets Act 2000 or the FCA Rules.

12 Professional Client Agreement ( Agreement ) continued S E C T I O N D 17. Force majeure We shall not be in breach of our obligations under this agreement nor shall we be liable for any loss or damage incurred or suffered by you if there is any total or partial failure of or any delay or interruption in the performance of our duties and obligations under this agreement resulting from any events or circumstances beyond our control. 18. Indemnity You hereby irrevocably and unconditionally agree to indemnify or reimburse us on demand and keep us fully and effectively indemnified (whether before or after termination of the Agreement) from and against any and all costs, losses or liabilities incurred by us as a direct or indirect result of our acting under this Agreement including (without limitation) our so acting on any instructions received from you in respect of which you or any counterparty or bank do not make good and timely delivery or payment. 19. Amendments and termination We reserve the right at any time to amend this Agreement by sending you a written notice describing the relevant changes. Any amendment will become effective on a date to be specified in the letter which will be at least ten business days after the letter is sent to you, unless it is impractible in the circumstances to do so. Either you or we may terminate this Agreement forthwith by sending a notice of termination to the other. No penalty will be due from either you or us in respect of termination of these arrangements. Amendments to, or termination of, this Agreement will not affect any outstanding order or transaction or any legal rights or obligations which may have already risen. 20. Waiver of fiduciary duties You hereby agree that, even if we give you advice or act as your agent or on your behalf hereunder, the only duties or obligations we owe you are those set out expressly in the Agreement or arising under FCA rules and that we do not owe you any other or further duties or obligations (whether arising from the fact that we are acting as your fiduciary or otherwise). You hereby also agree that any consent or waiver given by your acceptance of this Agreement in relation to any duty or obligation we might otherwise owe you shall be valid, effective and comprehensive even though the consent (or the disclosure to which it relates) is general only and not specific to the particular transaction concerned. 21. Complaints If you have any complaints about our performance under this Agreement you should direct that complaint to our Compliance Officer, who will investigate the nature of your complaint to try to resolve it. Swiss Finance will assume that a transaction is final and binding, if it is not disputed within 48 hours following its confirmation. 22. Documentation and correspondence All documentation including confirmations and daily statements will be mailed to the address noted on the Client Information Form unless otherwise advised in writing by the client to Swiss Finance. All correspondence between the customer and Swiss Finance must be addressed to: Swiss Finance Corporation Limited 33 Cavendish Square London W1G 0PW United Kingdom 23. Governing law This Agreement is governed by the law of England and Wales and both parties hereby submit to the exclusive jurisdiction of the courts of England and Wales in relation to any dispute under or in respect of this Agreement. Agreement of terms Once it has been agreed, this agreement will remain effective until it is revised by mutual agreement or Swiss Finance ceases to act on your behalf. 9

13 S E C T I O N E Client declaration TO: SWISS FINANCE CORPORATION LIMITED FROM I/We have: i. Read and understood the Loss of Protection Notice for Professional Clients (Section C); ii. Accurately completed the Client Information (Section A) and provided all identification evidence required by Section A; iii. Accurately completed the Knowledge and experience Information (Section B) iv. Read and understood the Professional Client Agreement (Section D) v. Read and understood the Conflict of Interest Policy and the Best Execution Policy set out in the Terms & Conditions (Section D) By signing this Client Acknowledgement Form I/we agree: i. To the terms set out in the Loss of Protections Notice forprofessional Clients (Section C); ii. To the terms set out in the Professional Client Agreement (Section D) iii. To the terms set out in our Conflict of Interest Policy and the Best Execution Policy set out in the Terms & Conditions (Section D) NAME SIGNED (ONLY BY AN AUTHORISED SIGNATORY) DATED Swiss Finance declaration Approved and acknowledged by: SWISS FINANCE CORPORATION LIMITED NAME (DIRECTOR) SIGNED NAME (DIRECTOR) SIGNED 10 DATED DATED

14 Re-categorisation of client classification S E C T I O N F I/We express consent to: We wish to be classified as a Professional Client We request to be re-classified as a Retail Client instead of a Professional Client (increasing the level of protection under the FCA s Rules) (Note: we may not be able to do business with you if you wish to be treated as a Retail Client) We request to be re-classified as a an Eligible Counterparty instead of a Professional Client (decreasing the level of protection under the FCA s Rules) We confirm we have read the loss of protection notice which includes details of protections lost as a result of being classified as an Eligible Counterparty. (Please tick the option that applies to your request and provide additional information where necessary). (Please also note that these requests are also based on approval by Swiss Finance). Requirements for Reclassification From A Retail Client to A Professional Client Should you wish to be reclassified as Professional Client and decrease your level of regulatory protection then you must meet at least two (2) of the following criteria; You, the client has made transactions of a significant size in the relevant market 10 times per quarter in average during the four preceding quarters, The size of the your financial portfolio, defined as comprising cash in hand and financial instruments, exceeds an amount equivalent to EU , You, the client works or has worked in the financial sector for at least one year in a position for which knowledge of the relevant transactions and investment services is required. (Please tick at least to criteria that applies to you, and provide additional information were necessary) NAME SIGNED (ONLY BY AUTHORISED SIGNATORY) DATED 11

15 S E C T I O N G Appointed traders knowledge and experience Please ensure that each appointed trader completes the following information and encloses a copy of their passport and proof of their home address. Please use copies of this form should it be necessary. 1. Please indicate the number of years of experience you have had in the foreign exchange markets 2. Please indicate the overall frequency of your dealings in the foreign exchange markets (times per month) 3. Please indicate the typical size of transactions initiated by yourself in the foreign exchange market 4. In what capacity have you been active in the foreign exchange markets? Advisory Execution only Discretion given to a third party 5. Are your trading activities performed on a speculative or hedging basis? 6. Please give details of any other experience in any other financial market 7. On the basis of your knowledge and experience, do you understand the risks of dealing in the foreign exchange markets and the potential for loss of capital in excess of your original investment? Yes No APPOINTED TRADER NAME CONTACT DETAILS TEL / HOME (if applicable) TEL / OFFICE SIGNATURE MOBILE FAX 12

16 Additional information S E C T I O N H Please use this page to supply any additional information you feel necessary or should space not allow in the main form. 13

17 S E C T I O N H Additional information Please use this page to supply any additional information you feel necessary or should space not allow in the main form. 14

18 SWISS FINANCE CORPORATION LIMITED 33 Cavendish Square, London W1G 0PW United Kingdom FOREX TEL: +44 (0) GENERAL TEL: +44 (0) GENERAL FAX: +44 (0) REUTERS DEALING: SABX REUTERS PAGES swissfinance REGULATED BY THE FINANCIAL SERVICES AUTHORITY