Terms & Conditions
1.1 A reference in this document to “we”, “us”, “our”, “ours” and “ourselves” (as appropriate) is a reference to Trident Innovation Center.
1.2 A reference to “you”, “your” is a reference to you, the Client.
1.3 These terms (including any Schedules), once we have accepted your application and opened an Account for you, will form an agreement (Agreement) between us and you and will govern all Transactions entered into between us and you and all dealings between us.
1.4 All of the Financial Products or financial services are subject to the general terms in this Agreement (including the Schedules) which apply to particular financial services you may receive or particular Financial Products we issue to you.
1.5 You should read this Agreement carefully, including any other disclosure documents that we supply to you in connection with your Account.
1.6 Nothing in this Agreement will exclude or restrict any duty or liability owed by us to you under the Governing Legislation.
1.7 This Agreement will come into effect when we accept your application and open your Account.
1.8 In this Agreement, capitalised words and expressions have their meanings as an emphasis.
1.9 This Agreement (amongst other things) also sets out the basis on which we will enter into Transactions with you and governs each Transaction entered into or outstanding between you and us on or after this Agreement comes into effect.
1.10 You will be classified and treated as a retail client unless we are otherwise required to treat you as a wholesale client. If you apply to be categorised as a wholesale client, we will notify you of our decision and of your classification in writing.
1.11 This Agreement does not, and you acknowledge that it does not constitute any personal advice, financial advice, tax advice nor a recommendation or opinion that a particular Financial Product or financial service is appropriate for you.
1.12 All dealings pursuant to this Agreement and in the Financial Products between us are subject to the Governing Legislation.
1.13 Trident Innovation Center does not accept Clients who are under 18 years old.
2. Dealings with us
2.1 We will act as principal in Transactions with you and not as agent on your behalf.
2.2 You will enter into each Transaction with us as principal and not as agent for any undisclosed person. This means that unless we have otherwise agreed in writing, we will treat you as our Client for all purposes and you will be directly and personally responsible for performing your obligations under each Transaction entered into by you, whether you are dealing with us directly or through an agent. If you act in connection with or on behalf of someone else, whether or not you identify that person to us, we will not accept that person as an indirect Client of ours and we will accept no obligation to them unless otherwise specifically agreed by us in writing.
2.3 Dealings with you will be carried out by us on an execution-only basis unless otherwise agreed by us.
2.4 You agree that, unless otherwise provided in this Agreement, we are under no obligation:
(a) to satisfy ourselves as to the suitability of any Transaction or Contract for you;
(b) to monitor or advise you on the status of any Transaction;
(c) to make Margin calls; or
(d) to Close Out any Transaction that you have opened.
2.5 You will not be entitled to ask us to provide you with investment advice relating to a Transaction or ask us to make any statement of opinion to encourage you to open a particular Transaction. We may, in our absolute discretion, provide information:
(a) in relation to any Transaction about which you or your authorised representative have enquired, particularly regarding procedures and risks attaching to that Transaction; and
(b) by way of factual market information,
however, we will be under no obligation to disclose such information to you and in the event of us supplying such information it will not constitute personal advice. If, notwithstanding the fact that dealings between you and us are on an execution-only basis, a representative of Trident Innovation Center Ltd, makes a statement of opinion (whether in response to your request or otherwise) regarding any Financial Product or Transaction, you agree that it is not reasonable for you to, nor will you be entitled to, rely on such statement and that it will not constitute personal advice.
2.6 You acknowledge and agree that:
(a) any information given by us in respect of your dealings with us constitutes general financial product advice only;
(b) any information provided to you will not take into account your personal objectives, financial situation or needs; and
(c) you should, before opening any Transactions, consider the appropriateness of the information, having regard to your personal objectives, financial situation and needs.
2.7 You agree to rely on your own judgement in opening, Closing Out, or refraining from opening or Closing Out a Transaction with us.
2.8 We will not, in the absence of fraud, wilful default or negligence be liable for any Loss (including, without limitation, indirect or consequential losses or loss of opportunity or profits arising from any failure by you to make any anticipated profits), costs, expenses or damages suffered by you arising from any inaccuracy or mistake in any information or advice, or unsuitability of any advice, given to you, including without limitation, information or advice relating to any of your Transactions with us.
2.9 Subject to our right to void or Close Out any Transaction as set out in this Agreement, any Transaction opened by you following such inaccuracy or mistake will nonetheless remain valid and binding in all respects to both you and us.
2.10 You acknowledge that information contained in the Contract Details is indicative only and may, at the time when you open or Close Out a Transaction, have become inaccurate. The more accurate details will be those displayed in your Account through the Electronic Trading Service.
2.11 You agree that, subject to the Governing Legislation, we may provide you with any such supplementary Product Disclosure Statement or new Product Disclosure Statement by publishing it on our website(s). In addition, we may in our discretion, send any supplementary Product Disclosure Statement or new Product Disclosure Statement to you by email or by post at the relevant email address or postal address last notified by you to us.
2.12 We reserve the right to require you to pay, or reimburse, us for stamp duty in the event of a change in the basis of stamp duty rates or law. We also reserve the right to charge you for the provision by us of market data (be that raw or derived market data) but we will notify beforehand if these charges will be applied.
2.13 We offer different types of Accounts with different characteristics and features. Depending on your knowledge and experience and the type of Transactions you generally enter into with us, some of these Account types may not be available to you. We reserve the right to change the features and eligibility criteria of our accounts at any time and we will provide prior notification of such changes on our website, by email or on our Electronic Trading Service.
2.14 From time to time, we may make additional services or specific types of Financial Products available to you, for example, spot foreign exchange contracts. Such additional services or Financial Products may be subject to special conditions.
3. Client Acknowledgements
3.1 You, the Client, acknowledge and confirm to us for our benefit in relying on the following:
(a) you (or, if a corporate entity, your directors) have read and understood all documentation provided to you by us including this Agreement and any other disclosure documents in relation to any Financial Products which you request Trident Innovation Center Ltd to make available to you in relation to your Account;
(b) you agree to be bound by this Agreement;
(c) all dealings in Financial Products and the performance by us of our obligations under this Agreement are subject to the Governing Legislation;
(d) Trident Innovation Center Ltd relies on your representation that at all times you will be able to make payments and fulfil all commitments on your part arising under this Agreement and under the conditions applicable to dealings between you and Trident Innovation Center Ltd;
(e) that trading in Transactions incurs a risk of loss as well as a potential for profit;
(f) that dealing in the Contracts is highly speculative and you may lose more than your Initial Margin, Variation Margin and other payments you make to us;
(g) it is your obligation to continuously monitor your Account and ensure that it constantly has sufficient Margin Cover;
(h) you will indemnify and keep indemnified us and each of its related bodies corporate and their respective directors, officers, employees and agents from and against all sums of money, actions, proceedings, suits, Claims, complaints, Loss, demands, damages, costs, expenses and any other amounts whatever claimed against any of them;
(i) Trident Innovation Center Ltd is not required to act in accordance with your instructions if in our opinion to do so would or could constitute a breach by us or our agent or hedge counterparty or any other Governing Legislation;
(j) if errors have occurred in the pricing of Transactions quoted by us to the Client, we may choose not to be bound by such Transactions (without further liability to the Client) if we believe that there was a Manifest Error at the time of the Transaction;
(k) Financial Products traded on the Electronic Trading Service will not be settled by the physical or deliverable settlement of the Underlying Instrument. Depending on the Financial Product, they are generally rolled or “swapped” indefinitely until Closed Out;
(l) an Open Position shall remain open until it was closed by you;
(m) the English version of this Agreement prevails over any other translated version of this Agreement; and
(n) You agree with our withdrawal terms.
3.2 You acknowledge and authorize us to record any or all incoming and outgoing phone calls with you without making a disclosure to you each and every time you speak with a representative of Trident Innovation Center. These calls may be recorded with or without an audible tone. You agree that we may use such recordings for the purposes of monitoring and training its staff, monitoring compliance with you and our respective regulatory and contractual obligations and resolving disputes. If there is a dispute between us and you, you have the right to listen to any recording of those conversations (if still available). Nothing in this Agreement obliges us to keep a recording or to notify you that we have eliminated a recording.
3.3 Recordings may be used to assess the performance of or to train our representatives, monitoring compliance with our respective regulatory and contractual obligations and resolving disputes.
3.4 You agree to examine the terms of each Confirmation immediately upon receipt and you agree that the contents of a Confirmation, in the absence of Manifest Error, will be conclusive evidence of the executed Transaction, unless within 48 hours of issue of a written Confirmation you notify us of any disputed detail in the Confirmation received by you.
3.5 All representations, warranties and acknowledgments given by you under this Agreement are taken to have been made at the time you complete the Application Form and are taken to have been repeated by you:
(a) each time you place an Order with us;
(b) each time you enter into a Transaction with us; and
(c) each time we do anything or refrain from doing something under this Agreement or as contemplated by this Agreement in connection with your Account or any Transaction.
4. Client Accounts
4.1 All of your dealings (including Transactions) will be within your Account held with us, which may include several trading accounts within that Account.
4.2 Unless you have specifically requested us to open separate Accounts, you will be taken to have only one Account, with Transactions in respect of each Financial Product or financial service provided to you being recorded in that Account.
4.3 A Client may be composed of two or more persons. If the Client consists of more than one person then the Account will be deemed to be held by the persons as joint tenants. The Client must notify Trident Innovation Center Ltd about this, or else Trident Innovation Center Ltd will only acknowledge one of the clients that the name was registered on the account as the legitimate owner of the account. The joint holding will only be deemed not to be held as joint tenants if there is a court determination that it is not held as joint tenants, or if Trident Innovation Center Ltd refuse to grant this joint tenants application.
4.4 Each person constituting the Client (as recorded on the Application Form) are jointly and severally liable for the obligations under this Agreement, and we may act on the instructions of any one of those persons.
4.5 The calculations, reporting and administration may be performed by us separately for each Account, so that (without limitation):
(a) Margin calculations may be managed, and enforcement action may be taken for each Account separately;
(b) we may at any time aggregate one or more Accounts (for reporting or managing Margins or otherwise for the purposes of this Agreement), even if you cannot immediately access reports for aggregated Accounts;
(c) we may set off any amount owed by you (including any negative balance in one or more Accounts) against any amount we owe you in any other Account, without notice.
4.6 We may choose, in our absolute discretion, which Financial Products, Transactions, cash, or account balance or other property to apply to offset a debt owed by you to us. For the avoidance of doubt, this right of set off (and other rights of set off under this Agreement) apply in respect of rights and obligations across more than one Account. You agree that we may apply the set off as among one or more Accounts, before an Event of Default on and following an Event of Default.
4.7 We may, with or without notice, and in addition to any other rights we have under this Agreement do any one of or all of the following:
(a) Close-Out or cancel all or part, as we reasonably consider appropriate, any Transaction;
(b) reduce your positions limit;
(c) refuse your Orders;
(d) suspend your Account (if we reasonably consider that appropriate);
(e) terminate this Agreement (if we reasonably consider that appropriate);
(f) adjust the price, size or value of an Open Position; or
(g) adjust the Margin Cover requirement.
5. Quotes and pricing
5.1 Upon your request and in accordance with this clause we will quote a higher and lower figure for each Transaction (“our Bid and Ask prices”). These figures will be either effectively based on comparable Bid and Ask prices in the Underlying Market or they will be our own Bid and Ask prices.
5.2 You acknowledge that our Spreads can widen significantly in certain circumstances and that they may not necessarily be the same size as the examples given in the Contract Details or on the Website and that there is no limit on how large they may be.
5.3 You acknowledge that when a Transaction is Closed Out, the Spread may be wider or smaller than the Spread when the Transaction was opened. You acknowledge that such figures will be set by us at our reasonable discretion. The Spread quoted by us will reflect our view of prevailing market conditions.
5.4 You acknowledge that our Quotes for dealing in our Financial Products are indicative only and so, are subject to the actual Quote at the time of execution of your Transaction. There is no assurance that the Contracts will actually be dealt with at the indicative Quote, especially if you delay placing the Order.
5.5 Quotes can only be given, and Transactions made during the open market hours of the relevant Exchange or market on which the Underlying Instruments are traded. The open hours of the relevant Exchanges are available by viewing the relevant Exchange website or by contacting us.
5.6 We may at any time in our discretion without prior notice impose limits on our Financial Products in respect of particular Underlying Instruments. Ordinarily, we would only do this if the market for the particular Underlying Instrument has become illiquid or its trading status has been suspended or there is some significant disruption to the markets, including the Electronic Trading Services.
5.7 You should be aware that the market prices and other market data which you view through the Electronic Trading or other facilities which you arrange yourself may not be current or may not exactly correspond with the prices for our Financial Products offered or dealt by us.
5.8 If you access your Accounts and the Electronic Trading Services outside of the hours when Orders may be accepted, you should be aware that the Orders may be processed at a later time when the relevant Exchange or market is open to trading, by which time the market prices (and currency exchange values) might have changed significantly.
5.9 We may notify you of certain Financial Products in respect of which we will not provide a Quote, restrictions on the amount for which we will price, or other conditions that may apply to our Quote, but any such notification (or failure to notify) will not be binding on us.
5.10 If we choose to provide a Quote, we may provide it either verbally, by telephone or electronically via our Electronic Trading Services or by such other means as we may from time to time notify you.
5.11 Our provision of a Quote (whether by telephone, Electronic Trading Service, or otherwise) does not constitute an offer for you to open or Close Out a Transaction at those levels.
5.12 You can only enter into a Transaction at the Quote provided by us (including through the Electronic Trading Service). We may, acting reasonably, accept or reject your Order at any time until the Transaction has been executed or we have acknowledged that your Order has been withdrawn.
6.1 You enter into a Transaction with us by placing an Order and when that Order has been received and accepted by us. Our acceptance of an Order to open or Close Out a Transaction, and thus the execution of the Transaction, will be evidenced by a Confirmation.
6.2 Any delay or errors in the transmission of an Order or the execution of your instructions will not be our responsibility nor are we liable for them (except to the extent that responsibility cannot be excluded by law).
6.3 You do not have a contract with us unless and until the moment your Order is actually executed. This will be shown on your Account.
6.4 If we become aware that any of the factors set out in clause 6.5 (but we are not limited to only these factors) are not satisfied at the time you place an Order (in our reasonable opinion), we reserve the right to reject your Order. If we have already opened or Closed Out a Transaction prior to becoming aware that a factor set out in clause 6.5 has not been satisfied (in our reasonable opinion) we may, in our absolute discretion, either treat such a Transaction as void from the outset or Close Out the Transaction at the prevailing price or take any other steps that we consider necessary (as determined by us).
6.5 The factors referred to in clause 6.4 include, but are not limited to, the following:
(a) the Quote must be obtained from us;
(b) the Quote must not be expressed as being given on an “indicative only” or similar basis
(c) if you obtain the Quote by telephone :
(i) it must be given by a representative of Trident Innovation Center Ltdl;
(ii) your Order must be given during the same telephone conversation in which you obtained the Quote; and
(iii) the Trident Innovation Center’ representative must have confirmed that the Order has been accepted by us;
(d) if you obtain the Quote electronically via our Electronic Trading Services, your Order and our acceptance of it, must be given while the Quote is still valid;
(e) the Quote must not be a Manifest Error;
(f) when you place an Order, the number of shares, contracts or other units in respect of which the Transaction is to be opened must be neither smaller than the Minimum Size nor larger than the Normal Market Size;
(g) when you offer to Close Out part but not all of a Transaction, both the part of the Transaction that you offer to Close Out and the part that would remain open (subject to our acceptance of the Order) must not be smaller than the Minimum Size;
(h) a Force Majeure Event must not have occurred;
(i) when you offer to open a Transaction an Event of Default must not have occurred, nor must you have acted in such a way as to trigger an Event of Default;
(j) the telephone or Electronic Conversation in which you place an Order must not be terminated before we have received and accepted your Order;
(k) when you offer to open or Close Out any Transaction, the opening of the Transaction must not result in you exceeding any credit or other limit placed on your dealings with us.
6.6 We may refuse to accept an Order, and we may place a limit on any Order or place other conditions on the receipt of instructions or Orders, in our absolute discretion and for any reason.
6.7 We may at any time use, add and change filters within an Electronic Trading Service which prevent delivery of Orders or execution of Orders. We will notify you of any refusal or limitation as soon as reasonably practicable, unless we are prevented by law or a direction from a regulatory authority from notifying you.
6.8 We may cancel or amend an Order:
(a) if required by Governing Legislation to do so;
(b) in the event of an error (including a Manifest Error);
(c) if we consider the cancellation or amendment appropriate, having regard to the desirability to maintain a fair and orderly market, our obligations as the holder of an SDL or as a participant or user of the relevant Exchange and our other legal and regulatory obligations; or
(d) if the Underlying Instrument, the subject of the Transaction has been subject to a trading halt on an Exchange and you have not reconfirmed instructions.
6.9 We reserve the right to refuse an Order which is larger than the Normal Market Size. Our Quote for a Transaction equal to or greater than Normal Market Size is not guaranteed to be within any specific percentage of any Underlying Market or related market quotation and our acceptance of your Order may be subject to special conditions and requirements that we will notify you at the time we accept your Order. We will inform you of the Normal Market Size for a particular Transaction if requested by you.
6.10 Where an Underlying Instrument trades on multiple Underlying Markets, you agree that we may but are not required to base our Quote on the aggregate prices in the Underlying Markets for the Underlying Instrument.
6.11 We will make reasonable efforts to effect any instructions to cancel or amend Orders as quickly as possible. If, however, an Order is filled prior to a cancellation or amendment instruction being effected, you are obliged to accept the Transaction on the original terms prior to your amendment or cancellation instruction, unless the Transaction is itself cancelled or amended.
6.12 You acknowledge that we do not operate any discretionary accounts and we will, unless otherwise expressly provided by this Agreement, only act on your instructions.
6.13 Unless otherwise specified in this Agreement, all Orders will remain open until either cancelled by you or purged by the Electronic Trading Service. We do not accept responsibility for reinstating lapsed Orders or for contacting you to seek new instructions.
6.14 You must not instruct us to submit an Order to enter into a Transaction which would breach or cause us or any other person to breach the Act, the Governing Legislation or any other laws including, without limitation, any law or the Rules in relation to:
(a) market manipulation, false trading, market rigging, fictitious transactions, black box trading, high frequency trading, scalping, wash trading or matching of Orders;
(b) insider trading;;
(c) creating a disorderly market or otherwise prejudicing the integrity or efficiency of the market; or
(d) misleading or deceptive conduct.
7. Conflicts of interest
7.1 We are required by law to take all reasonable steps to identify conflicts of interests between ourselves, our Associated Companies and our Clients, or between one Client and another, that arise in the course of providing our financial services.
7.2 Subject to the Governing Legislation, we may pay to and accept from third parties (and not be liable to account to you) benefits, commissions or remunerations which are paid or received as a result of Transactions entered into by you.
7.3 We are not under any obligation to account to you for any profit, commission or remuneration made or received from or by reason of Transactions or circumstances in which we have a material interest or where in particular circumstances a conflict of interest may exist.
7.4 You acknowledge that you are aware of the possibility that the conflicts disclosed in this clause will arise and consent to us acting notwithstanding such conflict.
8. Opening a Transaction
8.1 The particular terms of each Transaction are agreed between you and us before entering into a Transaction.
8.2 Before you enter into a Transaction, you are required to have sufficient Account Value to satisfy the Initial Margin requirements for the relevant number of contracts. The payments you make to us are either held as Margin or withdrawn to pay the amounts for Realised/Unrealised Losses or any fees and charges which you may owe.
8.3 You will open a Transaction by “buying” or “selling”. In this Agreement a Transaction that is opened by “buying” is referred to as a “Buy Transaction” and may also, in our dealings with you, be referred to as “long” or “long position”. A Transaction that is opened by “selling” is referred to as a “Sell Transaction” and may also, in our dealings with you, be referred to as “short” or “short position”.
8.4 When you open a Buy Transaction, the Opening Level will be the higher price quoted by us for the Transaction and when you open a Sell Transaction, the Opening Level will be the lower price quoted by us for the Transaction.
8.5 A Transaction must always be made for a specified number of the Underlying Instrument.
8.6 Subject to any other provision in this Agreement, each Transaction opened by you will be binding on you notwithstanding that by opening the Transaction limit applicable to you or in respect of your dealings with us.
9. Closing a Transaction
Transactions with no Expiry Date
9.1 Subject to any other provision in this Agreement and any requirement we may specify in relation to Linked Transactions, you may Close Out an Open Position or any part of such Open Position at any time.
9.2 When you Close Out an Open Position, the Closing Level will be, if you are Closing Out an Undated Buy Transaction, the lower figure then quoted by us and, if you are Closing Out an Undated Sell Transaction, the higher figure then quoted by us.
9.3 At any time, you may give Trident Innovation Center Ltd notice of your intention to Close Out any Transaction (whether in whole or part) by specifying the Underlying Instrument and the quantity that you wish to close. This must be done by you placing an Order which, if accepted, would Close Out the Undated Transaction that you wish to close.
9.4 Upon receipt of notice of intent to Close Out an Undated Transaction (by way of receiving your Order), Trident Innovation Center Ltd will use reasonable endeavours to provide the Closing Level (by way of indicating prices to Close Out your Open Positions) and notify you of that quote (by the Electronic Trading Service or otherwise). It is your obligation to notify Trident Innovation Center Ltd as soon as possible as to whether you are willing to accept the Closing Level. If you accept the Closing Level quoted by Trident Innovation Center Ltd, the Undated Transaction, or relevant portion of the Undated Transaction, will be Closed Out by issuing you with a Contract which is equal but opposite to the open Contract, or relevant portion of the Contract, to be Closed Out.
9.5 If the Underlying Instrument for the Contract is on terms that provide for its redemption, exchange or termination and you do not give notice to Trident Innovation Center Ltd of your intention to Close out the Contract or to roll it over on terms and by the time acceptable to Trident Innovation Center Ltd (whether or not you have any prior notice of that), you will be deemed to have given notice to Trident Innovation Center to Close Out that Contract at the Closing Level reasonably determined by Trident Innovation Center. In this case, Trident Innovation Center will Close Out the Contract as at the time it determines.
9.6 At the Close Out, if there is a difference between the Closing Value and the Contract Value of the Contract it must be accounted for in the following way:
(a) if the Closing Value is greater than the Contract Value, the Short Party must pay to the Long Party the difference; and
(b) if the Closing Value is less than the Contract Value, the Long Party must pay to the Short Party the difference. Transactions with an Expiry Date.
9.7 Subject to this Agreement and any requirement we may specify in relation to Linked Transactions, you may Close Out an open Expiry Transaction or any part of such open Expiry Transaction at any time prior to the Last Dealing Time for that Transaction.
9.8 Details of the applicable Last Dealing Time for each Expiry Transaction will normally be available in your Account or may be obtained from us upon your request. It is your responsibility to make yourself aware of the Last Dealing Time or, as the case may be, the expiry time for a particular Expiry Transaction.
9.9 When you Close Out an Expiry Transaction prior to the Last Dealing Time for the Expiry Transaction, the Closing Level will, if the Expiry Transaction is a Buy Transaction, be the lower figure then quoted by us and if the Expiry Transaction is a Sell Transaction, the higher figure then quoted by us.
9.10 If you do not Close Out an Expiry Transaction in respect of an Underlying Instrument on or before the Last Dealing Time then, subject to clause 9.15, we will Close Out your Expiry Transaction as soon as we have ascertained the Closing Level of the Expiry Transaction. The Closing Level of the Expiry Transaction will be:
(a) the last traded price at or prior to the close or the applicable official closing quotation or settlement price in the relevant Underlying Market as reported by the relevant Exchange plus or, as the case may be, minus;
(b) any Spread that we apply when such an Expiry Transaction is Closed Out. Details of the Spread that we apply when a particular Expiry Transaction is Closed Out will be set out in your Account.
9.11 You acknowledge that it is your responsibility to make yourself aware of the Last Dealing Time and of any Spread or commission that we may apply when an Expiry Transaction is Closed Out.
9.12 You acknowledge that it is your responsibility to make yourself aware of the next applicable contract period for an Expiry Transaction and that affecting the rollover of an Expiry Transaction may result in you incurring losses on your Account.
9.13 Any agreement as to rolling over an Expiry Transaction or any other Transaction is entirely at our discretion and we reserve the right to refuse to rollover an Expiry Transaction or any other Transaction, despite any instruction you have given us, if we determine, acting reasonably, that to effect a rollover would result in you exceeding any credit or other limit placed on your dealings with us.
9.14 Where we do affect a rollover of an Expiry Transaction or any other Transaction, the original Expiry Transaction will be Closed Out at or just prior to the Last Dealing Time and become due for settlement and a new Expiry Transaction will be created; such closing and opening terms will be on our terms.
9.15 Where an Expiry Transaction is in excess of four (4) times the Normal Market Size, or where any number of such Expiry Transactions are together in excess of (4) times the Normal Market Size, and where such Expiry Transaction(s) has not already been Closed Out prior to the Last Dealing Time, we reserve the right to automatically roll over the Expiry Transaction(s) to the next contract period where we reasonably believe it is in your best interests or the best interests of our Clients as a whole to do so.
9.16 If we choose to roll over your Transaction(s), we will generally try to contact you before the Last Dealing Time, but for the avoidance of doubt we may roll your Expiry Transaction(s) even if we have not contacted you and we will not be liable whatsoever for not contacting you.
9.17 If a Transaction is Closed Out, or settlement for difference being made: (a) we will credit to your Account any amount payable by us to you; or (b) you must pay to us any amount payable by you to us in cleared funds in any such currency that we may require immediately upon the payment request being made.
9.18 If there is any surplus Margin in your Account, any amount owing by you in accordance with this will be settled in whole or in part by debiting your Account with us.
9.19 When you Close Out a Transaction, you must pay us any commission, fees and other charges as disclosed in, the Electronic Trading Service or the Website.
9.20 Unless we agree otherwise, all sums payable by you pursuant to this clause are due immediately upon the Closing Level of your Transaction being determined by us.
9.21 We reserve the right to alter the Closing Level.
10. Electronic Trading Service
10.1 You represent and warrant that you are aware of all Applicable Regulations that apply to Electronic Trading Services that you use and that your use of the Electronic Trading Services will comply with all Applicable Regulations and this Agreement as amended from time to time.
10.2 The provisions of this clause are in addition to the other clauses in this Agreement and govern your use of the Electronic Trading Service or any information service we provide or make available to you (including, without limitation, all software and communication links) under which you may:
(a) place your Orders or transmit other instructions to us or other persons;
(b) enquire as to the availability or pricing or value of one or more Financial Products;
(c) receive market data and other information in relation to one or more Financial Products; or
(d) receive Confirmations, Account balances or other information in connection with your Account or Transactions.
10.3 We have no obligation to accept, or to execute or cancel, all or any part of a Transaction that you seek to execute or cancel through an Electronic Trading Service. Without limitation of the foregoing, we have no responsibility for instructions or transmissions that are inaccurate or not received by us, and we may execute any Transaction on the terms actually received by us.
10.4 You authorise us to act on any instruction given or appearing to be given by you using the Security Data and received by us in relation to any Electronic Trading Service you use (Electronic Instruction).
10.5 We are not obliged to act on any Electronic Instruction, or to execute or otherwise enter into any particular Transaction, and we do not need to give any reasons for declining to do so.
10.6 Unless we agree otherwise with you, you will have no right to amend or revoke an Electronic Instruction once received by us.
10.7 You will be responsible for the genuineness and accuracy, both as to content and form, of any Electronic Instruction received by us.
10.8 You acknowledge we have the right, unilaterally and with immediate effect, to suspend or terminate (at any time, with or without cause or prior notice) all or any part of any Electronic Trading Service, or your access to any Electronic Trading Service, to change the nature, composition or availability of any Electronic Trading Service, or to change the limits we set on the trading you may conduct through any Electronic Trading Service.
10.9 All prices shown on any Electronic Trading Service are indicative and are subject to constant change.
10.10 Use of any high speed or automated mass data entry system with the Electronic Trading Service will only be permitted with our prior written consent exercised in our sole discretion.
10.11 Where we permit electronic communications between you and us to be based on a customised interface using a protocol such as FIX API, those communications will be interpreted by and subject to any rules of engagement for such interface protocol that are provided to you.
10.12 You are required to test any customised interface prior to using it in a live environment and you agree you will be responsible for any errors or failure in your implementation of the interface protocol.
10.13 Trident Innovation Center Ltd has no obligation to resubmit Orders purged from any Electronic Trading Service.
10.14 An Electronic Trading Service may be a proprietary service provided by us, or a service provided to you by a third party pursuant to an arrangement with us. Where we grant you access to an Electronic Trading Service, we will grant you, for the term of this Agreement, a nonexclusive, revocable, non-transferable and non-transferrable licence to use the Electronic Trading Services pursuant to and in strict accordance with the terms of this Agreement.
10.15 We are providing the Electronic Trading Services to you only for your personal use and only for the purposes outlined in this Agreement.
10.16 You must not sell, lease, or provide, directly or indirectly, the Electronic Trading Services or any portion of the Electronic Trading Services to any third party except as permitted by this Agreement.
10.17 You acknowledge that all proprietary rights in the Electronic Trading Services are either owned by us or by any applicable third-party service providers selected by us who have made available to us all or part of the Electronic Trading Services.
10.18 You receive no copyright, intellectual property rights or other rights in or to the Electronic Trading Services, except those specifically set out in this Agreement.
10.19 You must protect and not violate those proprietary rights in the Electronic Trading Services and honour and comply with our reasonable requests to protect us and our third-party service providers’ contractual, statutory and common law rights in the Electronic Trading Services. If you become aware of any violation of our or our third-party service providers’ proprietary rights in the Electronic Trading Services, you must notify us in writing immediately.
10.20 If you receive any data, information or software via an Electronic Trading Service other than that which you are entitled to receive pursuant to this Agreement, you will immediately notify us and you must not use, in any way whatsoever, such data, information or software.
10.21 For some Electronic Trading Services software may be downloaded by you on one or more Systems but under no circumstances are you permitted to use the Electronic Trading Service on more than one System at any one time.
10.22 You will take all reasonable steps to ensure that no computer viruses, worms, software bombs or similar items are introduced into the System or software you use to access our Electronic Trading Services.
10.23 You agree
(a) you must not use the Electronic Trading Service (or permit or procure any other person to use the Electronic Trading Service) until the Security Data has been provided by us;
(b) the Security Data is confidential;
(c) you are responsible for maintaining the confidentiality and use of that Security Data at all times and must procure that any of your authorised person maintains the confidentiality of the Security Data;
(d) you will not permit, consent or allow any person to use the Security Data or to access or use the Electronic Trading Service using that Security Data;
(e) you will not provide, disclose or make available the Security Data to any person;
(f) you must notify us immediately upon becoming aware of any unauthorised use of the Security Data or the Electronic Trading Service;
(g) there are significant risks in using an Electronic Trading Service to deal in our Financial Products because it is operated by computer and telecommunication systems;
(h) you are responsible for becoming familiar with and must read any user manuals or materials in relation to the Electronic Trading Service; and
10.24 You acknowledge and agree that all market data and information in relation to trading, volumes and pricing for a financial market provided through any Electronic Trading Service may be proprietary information of the relevant Exchange or financial market or another person and any display, dissemination or other use of that information may be subject to restrictions imposed by the financial market or other person. You are responsible for complying with any such restrictions.
10.25 You acknowledge and agree that:
(a) you are only permitted to access and use the Electronic Trading Service, using the Security Data;
(b) we are entitled to rely on all instructions given by, on behalf of, or apparently on your behalf, using the Security Data; despite any other provision of this Agreement, we are not liable for any Loss caused by us acting on instructions or other communications using the Security Data;
(c) there may be delays in the processing, execution, amendment or cancellation of an Order entered through the Electronic Trading Service and:
(i) an Order may be filled before an instruction for its amendment or cancellation is processed;
(ii) you remain liable to settle the original Order, until any relevant amendment or cancellation is effected; and
(iii) Trident Innovation Center Ltd will not be liable for any Loss incurred by you arising from any delay in the dissemination of market information or the processing of any Order;
(d) the execution of an Order placed through the Electronic Trading Service may be delayed by filters or other electronic features of the electronic system;
(e) we are not responsible for the processing, execution or cancellation of any Orders submitted through the Electronic Trading Service, regardless of who enters such Orders and regardless of whether or not there is an error in the Order entry or for any delays; and
(f) you are responsible for ensuring you have in place alternative arrangements for the execution of Orders or other services available through the Electronic Trading Service, if the Electronic Trading Service or any aspect of it ceases to be available or subject to failure (including, for example, arrangements for the use of telephone or facsimile).
10.26 You are solely responsible for the implications and consequences of any unauthorised use of your Security Data and access of the Electronic Trading Service.
10.27 If a failure, interruption or malfunction of electronic communication between the parties prevents an Order from being placed, cancelled or amended then, without limiting any other right in this Agreement, neither party is liable to the other party for any Loss caused then by that failure, interruption or malfunction.
10.28 We and our licensors (as the case may be) will retain the intellectual property rights in all elements of the software and such software and databases contained within the Electronic Trading Services and you will not in any circumstances, claim or assert any title, benefit or interest in them.
11. Authorised Representatives
11.1 Trident Innovation Center Ltd may accept your authorization of another person (Authorised Representative) to give instructions and place Orders on your behalf. You must notify Trident Innovation Center Ltd in your Application Form or otherwise in writing in a way permitted by Trident Innovation Center Ltd if any such authorisation, setting out the full name, telephone number, fax number, email address and signature of that person and any other information required by Trident Innovation Center Ltd to identify and verify the Authorised Representative. Trident Innovation Center Ltd has the right to accept or reject this authorization application.
11.2 Any change or revocation of such authority is only effective upon receipt by the Trident Innovation Center of a signed written notice of change or revocation from you. If another person is later appointed an Authorised Representative, the notice must include the full name, telephone number, fax number, email address and specimen signature of that person and be verified by an Authorised Representative and any other information required by Trident Innovation Center Ltd to identify and verify the Authorised Representative and, if you are a body corporate, by a director.
11.3 You remain principally and solely liable and responsible for all acts (or omissions) of any Authorised Person even if such acts or omissions were outside the authority of the Authorised Person or they were fraudulent, in error, negligent or illegal.
12. Manifest Error
12.1 We may, without your consent, either determine a Transaction or Open Position from the outset or at any time amend the terms of any Transaction containing or based on any error that we reasonably believe to be a Manifest Error.
12.2 If, in our discretion, we choose to amend the terms of any such Transaction or Open Position due to a Manifest Error, the amended terms will be such level as we reasonably believe would have been fair at the time the Transaction was entered into had the Manifest Error not occurred.
12.3 In deciding whether an error is a Manifest Error we will act reasonably, and we may (but not obliged to) take into account any relevant factors including, without limitation, the state of the Underlying Market at the time of the Manifest Error or any error in, or lack of clarity of, any information source or pronouncement upon which we base our quoted prices. Any financial commitment that you have entered into or refrained from entering into in reliance on a Transaction with us will not be taken into account in deciding whether or not there has been a Manifest Error.
12.4 In the absence of our fraud, wilful default or negligence, we will not be liable to you for any Loss, cost, claim, demand or expense following a determination of a Manifest Error (including where the Manifest Error is made by any information source, commentator or official on whom we reasonably rely) or any action (or omission) taken (or omitted) by as a result.
12.5 If a Manifest Error has occurred and we choose to exercise any of our rights under this clause or any other provision in this Agreement, and if you have received any monies from us in connection with the Manifest Error, you agree that those monies are due and payable to us on our written demand and you agree to return an equal sum of those monies to us within the period stated in our written demand.
12.6 If a Transaction or Open Position is based on a Manifest Error, we may (in addition to our other rights) without your consent do any or all of the following:
(a) amend the terms of a Transaction to reflect what we consider to have been the fair terms at the time the Transaction had been entered into had there been no Manifest Error;
(b) Close Out the Transaction and any Open Positions resulting from it;
(c) adjust or suspend your Account;
(d) treat the Transaction as void from its inception;
(e) refrain from taking action to amend or void the Transaction; or
(f) any other action that we believe is appropriate in the circumstances.
12.7 We will exercise our rights under this clause reasonably, in good faith and as soon as reasonably practicable after we become aware of the Manifest Error.
12.8 To the extent reasonably practicable, we will give you prior notice of any action we take under this clause; but if it is not reasonably practicable, we will give you notice as soon as reasonably practicable afterwards.
12.9 In the absence of fraud or gross negligence on our part, to the extent permitted by law we are not liable to you for any Loss, cost, claim, demand or expense that your incur or suffer (including loss of profits or indirect or consequential losses), arising from or connected with the Manifest Error including if the Manifest Error arises from an information service on which we rely.
13. Price Manipulation, Gaming and Market Abuse
13.1 If we reasonably believe that you (including any Authorised Representative) have (or attempted to) manipulated our Quotes, our execution process or our Electronic Trading Service, or “gamed” or attempted to “game” our Electronic Trading Service or attempted some form of market abuse or market misconduct, we may in our sole and absolute discretion without notice to you do any one or more of the following (to the extent permitted by law):
(a) enforce the Transaction(s) against you if it is a Transaction(s) which results in you owing money to us;
(b) treat all of your Transactions as void from their inception;
(c) withhold any funds from you which we suspect to have been derived from any such activities;
(d) Close Out your Account;
(e) adjust your Account;
(f) suspend your Account;
(g) terminate this Agreement; and
(h) take such other action as we consider appropriate.
14. Fees and charges
14.1 Any profit or loss net of any fees and charges (that is, the realised gain or loss) arising on Closing Out a Transaction will be credited or debited (as the case may be) against the Account Value, in the Account currency.
14.2 You owe us, and must pay to us or as we direct:
(a) any Transaction charges including all commission, Finance Charge, charges, fees, Margins, premia, settlement and clearing fees and charges, interest, default charges and taxes and any other amounts due under this Agreement on demand by Trident Innovation Center Ltd in cleared funds or otherwise as required by this Agreement;
(b) a Transaction Fee for each Financial Product or Transaction (as the case may be) being the fee from time to time specified by Trident Innovation Center Ltd to be the amount payable by you to Trident Innovation Center Ltd in respect of each such Transaction;
(c) any royalty or other fee which must be paid for the use of prices or information provided to you via access through the Electronic Trading Service or otherwise by any Exchange;
(d) (if applicable) a monthly access charge for the use of the Electronic Trading Service provided by Trident Innovation Center Ltd, as specified from time to time;
(e) any fees, Taxes, stamp duty or other charges as may from time to time be levied on or in connection with any Transactions entered into with you; and
(f) in respect of any unpaid amounts required to be paid under this Agreement including, (without limitation) any amounts due as a result of your failure to pay interest on all such amounts denominated in Dollars at the interest rate per annum as reasonably determined by Trident Innovation Center Ltd (but so that the total rate does not exceed generally prevailing rates for personal unsecured loans in comparable amounts), such interest to accrue daily from and including the due date to and including the date of its payment in full.
14.3 You authorise us to deduct on any of the fees described in clause 14:
(a) from your Account;
(b) from the amount of Margin which you must pay to maintain the required Margin Cover.
14.4 All payments by you under this Agreement are:
(a) to be made without any set-off by you, counterclaim or condition made by you and without you making any deduction or withholding for any Tax or any other reason unless the deduction or withholding is required by applicable law or the set-off arises by express application of this Agreement; and
(b) payable in any currency that we may reasonably require or determine.
14.5 We agree to pay you any Finance Credit applicable to a Transaction, from time to time.
15.1 Upon opening a Transaction, you will be required to pay us the Initial Margin for that Transaction, as calculated by us.
15.2 You acknowledge that the Initial Margin for certain Transactions (for example, Share CFDs) will be based on a percentage of the Contract Value of the Transaction and therefore, the Initial Margin due for such Transactions will fluctuate in accordance with the Contract Value.
15.3 Initial Margin is due and payable to us before you enter into a Transaction (and for Transactions that have a fluctuating Initial Margin based on a percentage of the Contract Value, immediately on opening the Transaction and thereafter immediately on any increase in Contract Value taking place).
15.4 You agree that for different Financial Products there will be different Margin requirements and they may be displayed on the Website. The Margin requirements are subject to change without notice to you so you should make yourself aware of the Margin requirements.
16. Equity Protection
16.1 Trident Innovation Center Ltd provides an Equity Protection feature for Expert Trader accounts.
16.2 With this feature, in the event that you make an initial deposit and experience margin call on a time range of seven days after the initial deposit, you can claim this protection.
16.3 When activated, your balance will be restored exactly with the amount of the initial deposit you first make.
16.4 This balance can be used as margin to trade, but cannot be withdrawn.
16.5 You can only withdraw money from the profit of your trading activities, and only if the profit grows 100% from the equity.
16.6 Example, you make 100 usd initial deposit, and experience margin call on the 4th day, still under seven days from your initial deposit. You can activate your equity protection by simply email us. Your balance will be restored to 100 usd. Remember that this balance can be used for trading, but cannot be withdrawn. You can only withdraw this after your balance grows to at least 200 usd, grows 100$ from initial balance. You can withdraw the 100 usd profits at this point.
17. Copytrade account
17.1 Trident Innovation Center Ltd provides a copytrade account that can only be used to copytrade on Trident copytrade services.
17.2 The copytrade service is free of charge, but you will pay them with a sharing profit. Everytime you gain profit from copytrading, you will need to share the profit to the traders that you copy by 50%. Your balance will be automatically deducted accordingly, by calculating the entire profit you gained and cutting them by 50%, for this sharing profit scheme.
17.3 Copytrade services have the potential of profit as well as risk of loss. The risk of using this copytrade service is entirely your responsibility. By using this service, you understand how this service works and aware of the risk that follows. Trident Innovation Center Ltd may only provide this service and is not responsible for any loss that might occur.