API/MT4 Instrument Information Schedules Effective Date: 15 th January 2015
API/MT4 Instrument Information Schedules Schedule 1 Instrument Information Contracts for Differences Effective date: 15 January 2015 This Instrument Information Schedule forms part of our agreement with you and sets out the terms that are specific to your trading in contracts for difference ( CFD trades ). It is important to note that the terms set out in this Instrument Information Schedule are additional to the terms set out in the Customer Agreement and that the terms of the Customer Agreement will continue to apply to your CFD trading with us, save for in the event of a conflict. In the event of such a conflict, the terms of this Schedule shall apply. The abbreviations used in this Instrument Information Schedule are adopted from the Customer Agreement. A CFD trade does not entitle you to any rights in relation to the underlying instrument (e.g. Wall Street 30 CFD) that is the subject of the trade. In particular, you will not be entitled to delivery of the underlying instrument (similarly you will not be obliged to deliver the underlying instrument) nor will you acquire any ownership or rights such as voting rights in relation to it. 1. 1.1. 1.2. PROFITS/LOSSES When you enter into a CFD trade with us, your profit or loss upon closure of that trade will be realised and credited to your Account in the currency of the underlying instrument that is the subject of the trade (for example, a profit or loss on a Wall Street 30 CFD will be realised in US dollars). Where the underlying instrument currency is not your Base Currency, the provisions of Term 12.7 will apply in relation to the Margin Required for your open CFD trades and the open profit/loss on your CFD trades. Any realised profits/losses will be dealt with in accordance with Term 12.8. 2. 2.1. FINANCING CHARGES Save for in the case of Expiry CFDs, which do not attract financing charges, financing charges shall be due from you or shall be payable to you, depending on the type and direction of the CFD trade that you have opened, during the life of that trade. Details of how our financing charges operate are set out in the Trading Manual. Our financing charges are subject to change and any changes we implement will be effective immediately and will apply to any existing open trades as well as to any future trades from that time. We shall notify you of any changes to our financing charges by making changes to the Instrument Information on the Trading Platform and the Trading Manual as soon as reasonably practicable. We shall try and inform you in advance of any changes to our financing charges but this may not always be possible. 2
2.2. 3. 3.1. 3.2. We shall credit or debit your Account (as applicable) with the financing charges applicable to your open CFD trades on a daily basis. CFD ADJUSTMENTS FOR DIVIDENDS AND CORPORATE ACTIONS Upon the occurrence of a corporate action type event ( Corporate Action ) affecting directly or indirectly the underlying instrument that is the subject of your CFD trade, we shall take any action that we consider necessary, acting at all times in a reasonable manner, to give effect to the Corporate Action as it relates to your open CFD trade with us. Corporate Actions include the following types of event occurring in any jurisdiction but may also include an event not specifically mentioned, the occurrence of which may reasonably be classified as a Corporate Action given the way it affects directly or indirectly an underlying instrument: 3.2.1 3.2.2. 3.2.3. 3.2.4. 3.2.5. 3.2.6. any rights, scrip, bonus, capitalisation or other issue or offer of shares/equities of whatsoever nature or the issue of any warrants, options or the like giving the rights to subscribe for shares/ equity; any acquisition or cancellation of own shares/equities by the issuer; any reduction, subdivision, consolidation or reclassification of share/equity capital; any distribution of cash or shares, including any payment of dividend; a take-over or merger offer; and/or any amalgamation or reconstruction affecting the shares/equities concerned. 3.3. The actions we may take upon the occurrence of a Corporate Action are as follows: 3.3.1. 3.3.2. 3.3.3. 3.2.4. your Account may be credited or debited with an amount due; your open trades and/or working Orders including any contingent Orders may be adjusted, closed or cancelled to reflect the terms of the Corporate Action; one or more new trades may be opened on your Account; and we may increase our Margin Factor in relation to your affected trade(s). 3.4. We shall exercise our rights hereunder as soon as reasonably practicable following the occurrence of the Corporate Action. We may exercise those rights without notice to you. If we do so, we shall give you notice by email of the actions we have taken as soon as reasonably practicable after our rights have been exercised. 3
3.5. 3.6. 3.7. 3.8. In certain circumstances a Corporate Action may occur or have occurred that affects a trade of yours that you have already closed. For example, in the event that a dividend is changed between the time the dividend is credited or debited from your Account and the payment date; during which time you have closed your trade in the CFD. In these circumstances your Account may be credited or debited with the amount due or a new trade opened on your Account, to give effect to the Corporate Action after the affected trade has been closed. You may not be able to close one or more of your open trades that are affected by the Corporate Action until after the event giving rise to the Corporate Action has passed. You will be liable for all charges relating to your affected trades during this period. We recommend that before you open a trade with us you carry out your own research into whether your trade is liable to be the subject of a Corporate Action. The occurrence of a Corporate Action during the life of your trade may have a dramatic effect on your trade and you should therefore familiarise yourself with potential effects of a Corporate Action on your trade before you open it with us. A worked example of how Corporate Actions may affect your trades is set out in the Trading Manual. Schedule 2 Instrument Information Rolling Spot FX Contracts Effective date: 15 January 2015 This Instrument Information Schedule forms part of our agreement with you and sets out the terms that are specific to your trading in Rolling Spot FX contracts ( FX trade ). It is important to note that the terms set out in this Instrument Information Schedule are additional to the terms set out in the Customer Agreement and that the terms of the Customer Agreement will continue to apply to your FX trading with us, save for in the event of a conflict. In the event of such a conflict, the terms of this Schedule shall apply. The abbreviations used in this Instrument Information Schedule are adopted from the Customer Agreement. An FX trade does not entitle you to any rights in relation to the underlying currency that is the subject of the trade. In particular you will not be entitled to delivery of the underlying currency (similarly you will not be obliged to deliver the underlying currency). 4. 4.1. 4.2. PROFITS/LOSSES When you enter into an FX Trade, your profit or loss will be realised, and credited or debited to your Account, in the second named currency (for example, profit or loss on a EUR/USD FX Trade will be realised in US dollars). Where the underlying instrument currency is not in the Base Currency of your Account, the provisions of Term 12.7 will apply in relation to the Margin Required for your open FX trades and the open profit/loss on your FX trades. Any realised profits/losses will be dealt with in accordance with Term 12.8. 4
5. 5.1. 5.2. 5.3. FINANCING CHARGE All times stated below relate to New York time taking account of changes between Eastern Standard Time and Eastern Daylight Time. If you have an open FX Trade at 17:00 on any week day (Monday to Friday inclusive), we will make a Financing Charge to your Account. The Financing Charge will reflect the relative interest rates of the two currencies comprising your FX Trade and are calculated as follows: F = V x R x D where: F = Financing Credit/Debit. V = Notional value of your open position in the first named currency (quantity x contract size). R = Swap Rate. D = Number of days the position is rolled. 5.4. 5.5 If R is less than zero, your Account will be debited the Financing Charge. If R is greater than zero, your Account will be credited the Financing Charge. 6. LANGUAGE OF COMMUNICATIONS All GMO-Z.com Trade UK Limited legal documents are available in English, and can be found on the English version of our corporate website. Translations into other languages are provided for referential purposes only. For the avoidance of doubt, the English version shall prevail in the event of any inconsistencies or ambiguities. 5