日期：2018-01-12 / 人气： / 来源：http://www.rzfanyi.com/ 作者：译声翻译公司外汇电子交易条款及客户协议翻译模板（第一部分 中英文）
ELECTRONIC TRADING TERMS AND CLIENT AGREEMENT
This notice is provided to you (the “Client” or “you”) because you are considering dealing with ILQ Australia Pty Ltd (hereinafter “the Company” or “ILQ”) in Foreign Exchange Contracts, either on a margin basis or otherwise.
Australia Pty Ltd(以下简称“公司”或“ILQ”)交易外汇合约。
This notice cannot and does not disclose or explain all of the risks and other significant aspects
involved in dealing in these Transactions and was designed to explain in general terms the nature of the risks particular to dealing in these Transactions and to help the Client to take investment decisions on an informed basis.
Prior to applying for an account you should consider carefully whether trading in these Transactions is suitable for you in the light of your circumstances and financial situation. Margin FX involves different levels of exposure to risk and, in deciding whether to trade in such instruments, you should be aware of the following points:
. Trading in Margin FX carries a high degree of risk. Margin FX trading can carry greater risks
than conventional share trading.
. A relatively small market movement can lead to a proportionately much larger movement in
the value of your investment, and this can work against you as well as for you.
. Margin FX are contingent liability transactions which are margined and require you to make a series of payments against the purchase price, instead of paying the whole purchase price immediately, and they may only be settled in cash.
. You may sustain a total loss of the margin that you deposit with us to establish or maintain a position. If the market moves against you, you may be called upon to pay substantial additional margin at short notice. If you fail to do so within the required time, your position may be liquidated at a loss and you will be liable for any resulting deficit. You will be deemed to have received a notice requiring the payment of such funds, even if you are not at home or do not receive the messages we leave for you, if the notices are delivered to your nominated contact points.
. Even if a Margin FX is not margined, it may still carry an obligation to make further payments in certain circumstances over and above any amount paid when you entered into the contract.
. Under certain trading conditions it may be difficult or impossible to liquidate a position. This may occur, for example, at times of rapid price movement if the price rises or falls in one trading session to such an extent that trading in the underlying market is suspended or restricted.
. Placing a Stop Order will not necessarily limit your losses to the intended amounts, because market conditions may make it impossible to execute such an Order if the underlying market moves straight through the stipulated price.
. We will not provide you with personal financial product advice relating to Margin FX and we will not make Margin FX recommendations of any kind. The only advice we will give you will be as to how Margin FX and trading system work.
. There is no clearing house for Margin FX, and the performance of a Margin FX by ILQ is not ‘guaranteed’ by an exchange or clearing house.
. 外汇保证金没有清算所，交易所或清算所不“保证”ILQ 履行外汇保证金合约。
. Our insolvency or default may lead to your positions being liquidated or closed out without your consent. As all deposits lodged with us are held in a segregated client account or accounts, in such circumstances those deposits would attract all legal protections afforded under the Corporations Act. Net unrealized running profits are also held in trust by us (in excess of our contractual and regulatory requirements) and would normally be similarly protected for your benefit as beneficial owner, unless a Court were not to uphold the trust in relation to the net unrealized profits, in which event you would rank as an unsecured creditor of ours in relation to such net unrealized profits.
. Although by dealing with us you will not be dealing in securities, you need to be aware that you may still be subject to the Corporations Act 2001 and, in particular, the market manipulation and insider trading provisions of the Act.
. 虽然与我们交易即表示您不会交易证券，但是您必须知道，您仍然需要遵守 2001 年《公司法》，尤其是该法案涉及的市场操纵和内幕人士交易相关规定。
. The obligations to you under the Client Agreement and the margin FX are unsecured obligations, meaning that you are an unsecured creditor of ours.
1 TERMS AND CONDITIONS 条款和条件
1.1 INTRODUCTION 引言
The Client wishes to deal in over-the-counter financial products in accordance with the Client's instructions from time to time, and in accordance with the terms and conditions contained in this Agreement.
These terms and conditions are part of the agreement between ILQ Australia Pty Ltd (ACN 159 166 739) (“we”, “our” or “us”) and you the client (“you” or “yourself”) which governs our trading
services and all transactions we conduct with you.
这些条款和条件是 ILQ Australia Pty Ltd (ACN 159 166 739)(简称“我们”)与客户(简称“您”)
We hold an Australian Financial Services Licence (ASFL) No. 424122.
我们持有编号为 424122 的澳大利亚金融服务执照 (ASFL)。
The Agreement between us is constituted by the following documents:
. Application form;. 申请表;
. These terms and conditions; and . 本条款和条件;以及
. Any additional terms and conditions issued by us and notified to you and accepted by you, in connection with our dealings with you;
. The market information sheet that is located on our website; . 我们网站上的市场信息表;
. These documents are referred to as the “Agreement”. . 这些文件统称为“协议”。
There are other materials that explain the basis of our dealings with you and they include:
. Our product disclosure statement (PDS) and financial services guide (FSG);
. 我们的产品披露声明 (PSD) 和金融服务指南 (FSG);
. Our website, which includes our trading platform. . 我们的网站，包括我们的交易平台。
Please read this Agreement carefully and seek professional advice if necessary. Contracts that we enter into with you under this Agreement are legally binding and enforceable. By signing the Application form or by electronically submitting your application on our website you confirm that you accept the terms of the Agreement. When we open an account for you, you will be bound by the Agreement in your dealings with us.
1.2 INTERPRETATION 解释
If there is any conflict between the terms of this Agreement and any applicable law, the applicable
law will prevail provided that any applicable law relating to the provision of margin demands will not apply.
a. Headings and examples in this Agreement are for ease of reference only and do not form part of this Agreement.
b. The singular includes the plural, and the converse also applies. The masculine includes the feminine.
c. If a word or phrase is defined, its other grammatical forms have a corresponding meaning.
d. A reference to a person includes bodies corporate, unincorporated, associations, trusts, partnerships, individuals or other entity, whether or not it comprises a separate legal entity.
e. A reference to an agreement or document (including a reference to this Agreement) is to the Agreement or document as amended, supplemented, novated or replaced, except to the extent prohibited by this Agreement or that other agreement or document, and includes the recitals, schedules and annexures to that agreement or document.
f. A reference to a party to this Agreement or another agreement or document includes the party's successors, permitted substitutes and permitted assigns (and, where applicable, the party's legal representatives).
g. A reference to legislation or to a provision of legislation includes a modification or re-
enactment of it, a legislative provision substituted for it and a regulation or statutory
instrument issued under it.
h. Any reference to any enactment includes references to any statutory modification or re-
enactment of such enactment or to any regulation or order made under such enactment (or
under such a modification or re-enactment).
i. All references to times of the day are to the time in Sydney, New South Wales, Australia, unless otherwise specified.
1.3 WHO ARE WE 公司简介
ILQ Australia Pty Ltd is authorised and regulated by the Australian Securities and Investments Commission (ASIC) to provide financial product advice, deal and make a market in foreign exchange contracts and derivatives to retail and wholesale clients. ILQ is the holder of an AFSL 424122. ILQ is owned and supported by an experienced and capable staff and investors which have provided the capital to expand and support its operations.
ILQ Australia Pty Ltd 由澳大利亚证券投资委员会 (ASIC) 批准和监管，可向散户和大户提
供金融产品意见、交易外汇合约和衍生产品以及为其做市。ILQ 是 AFSL 424122 的持有人。
2 GENERAL INFORMATION 概述
2.1 PRINCIPAL 负责人
We will deal with you as principal and not as agent on your behalf. This means that any trades are agreed directly between you and us and we will be the counterparty to all of your trades. Unless we agree otherwise in writing, you will also deal with us as principal and not as an agent or representative of another person. You will not permit any person to deal on your behalf unless we agree that such person (the “Agent”) can act on your behalf. We will be entitled to rely on any instructions given to us by the Agent in relation to your account. We may require confirmation that the Agent has authority to act on your behalf at any time we reasonably consider appropriate.
2.2 NO PERSONAL FINANCIAL ADVICE 不提供个人金融意见
We will not provide any personal or financial product advice to you, in relation to the terms and conditions of this Agreement or on the merits of any trade. We deal with you on an execution-only
basis and any advice we give you will be general advice only. This means that any advice we do give you has been prepared without taking account of your objectives, financial situation or needs. In the circumstances, you should seek professional advice as to whether the financial products that we offer are suitable for your purposes having regard to your objectives, financial situation or needs. You should obtain our PDS before making any decisions in relation to our products or services.
应当获得我们的 PDS 后再做出有关我们产品或服务的决定。
2.3 INVESTMENT RESEARCH AND OTHER PUBLISHED INFORMATION
We may from time to time send published research reports and recommendations and other publications to you. If the document contains a restriction on the person or category of persons for
whom that document is intended or to whom it is distributed, you agree that you will not pass it on to any such person or category of persons. We make no representations as to the time of receipt by you of research reports or recommendations and cannot guarantee that you will receive such research reports or recommendations at the same time as other clients. We shall not be liable for any investment decision you make, based in whole or in part, on any investment research report, recommendation or other publication we send to you. Any such published research reports or recommendations may appear in one or more screen information service.
2.4 ALL TRADES AT YOUR RISK 所有交易均由您自担风险
We may, but are under no obligation: 我们可以(但没有义务)：
a. To satisfy ourselves as to the suitability of any trade for you; 确定任何交易是否适合您;
b. To monitor or advise you on the status of any trades;
c. To make margin calls; or except where legislation requires it, close any open position despite
the fact that previously we may have given such advice or taken action in relation to that trade
or any other.
All trades will, therefore, be made at your own risk and to the maximum extent permitted by law, we will not in any way be liable for any claims, damages, losses (including consequential losses) or injury suffered or incurred by you as a result of or arising out of:
a. Any misinformation or financial product advice provided by, or on behalf of, us relating to a trade entered into or proposed to be entered into by you under this Agreement; or
b. Any information or financial product advice provided by, or on behalf of, us in relation to any financial product that you may deal in under this Agreement.
2.5 RELIANCE ON YOUR OWN JUDGMENT 依赖于自己的判断
You must understand the risks of dealing in Margin FX and rely solely upon your own judgement in dealing with us. We are not under any responsibility or owe to you any duty of care to monitor your trades or to prevent you from trading beyond your means or ability or otherwise, to protect you. Unless otherwise advised by us in writing we will classify you as a retail client for the purposes of the Corporations Act.
2.6 MARGIN REQUIREMENTS 保证金要求
It is your responsibility and obligation to monitor and pay margins strictly in accordance with Clause 10. Before you begin to trade with us we will take all reasonable steps to provide you with a clear explanation of spreads, fees, funding and other charges for which you will be liable. You should appreciate that these charges will affect your trading net profits (if any) or increase your losses.
您有责任和义务严格根据第 10 条监控和支付保证金。在您与我们开始交易之前，我们将采
2.7 OUR TRADING SERVICE 我们的交易服务
Our trading service is an on-line service and you specifically consent to the receipt of documents in electronic form via email, website or other electronic means. Upon your request we will send you the product disclosure statement and financial services guide in paper form at no charge.
2.8 ACCESS TO INTERNET 互联网访问权限
You confirm that you have regular access to the internet and consent to us providing you with information about us and our services (including market information), our costs and charges and our
notices by email or by posting such information on our website or on our trading platform. You
acknowledge that in the event that you are unable for any reason whatsoever to place a trade or close a position because of difficulties you may be having with our trading platform, you will immediately telephone our dealing desk to place the trade or close the position.
2.9 UNDERLYING INSTRUMENTS 基础工具
You will not have any rights of ownership or otherwise in any underlying instrument as a result of the trade with us. This means you will not own or have any interest in the physical currency the subject of the Margin FX.
2.10 OUR DISCRETIONS 我们的酌情权
Various clauses of this Agreement confer discretions on us to act in circumstances that are set out in the relevant provision. In exercising such discretions, we will act in accordance with the following:
a. We will have due regard to our commercial objectives, which include;
b. Maintaining our reputation as a product issuer; 维持我们作为产品发行人的声誉;
c. Responding to market forces; 回应市场力量;
d. Managing all forms of risks, including, but not limited to operational risk and market risk; and
e. Complying with our legal obligations as a holder of an AFSL;
遵守作为 AFSL 持有人的法律义务;
f. We will act when necessary to protect our position in relation to the trade or event;
g. We will take into account the circumstances existing at the time and required by the relevant provision, and not take into account irrelevant or extraneous considerations or circumstances;
h. We may take into account your trading or investment experience; and
i. At all times, we will act reasonably, commercially and bona fide, and where required or
appropriate provide you with prior notice before exercising that discretion.
2.11 APPLICATION FORM 申请表
You, by signing or submitting electronically the application form when you are applying to become our customer:
. Acknowledge to us that you have received or downloaded, and read and
understood this Agreement and the current PDS;
. 向我们承认，您已经收到或下载了，并且已经阅读和理解了本协议和最新 PDS;
. Agree that we will provide our products and services to you on the terms and conditions of this Agreement.
2.12 ANTI-MONEY LAUNDERING LEGISLATION 反洗钱法律
You acknowledge that we may require further information from you from time to time to comply with the Anti-money Laundering and Counter-Terrorism Financing Act (AML/CTF Act). By entering into this Agreement, opening an account and transacting with us, you undertake to provide us with all additional information and assistance that we may reasonably require to comply with the AML/CTF Act. You also warrant that: You are not aware and have no reason to suspect that: the moneys used to fund your transactions have been or will be derived from or related to any money laundering, terrorism financing or other illegal activities, whether prohibited under Australian law, international law or convention or by agreement; or the proceeds of your investment will be used to finance any illegal activities; and neither you nor your directors, in the case of a company, are a politically exposed person or organisation as the term is used in the anti-money laundering and counter-terrorism rules instrument 2007 (1). We may also disclose your personal information to credit reporting agency for the purpose of verifying your information. We may request a credit reporting agency to provide an assessment of whether the personal information matches (in whole or in part) the personal information contained in a credit information file in its control or possession. The credit reporting agency may prepare and provide to us such assessment and may use the personal information (such as your name, date of birth and place of birth) for the purpose of preparing such assessment. By signing this Agreement, you EXPRESSLY agree to the making of such request by us and the disclosure of the personal information about you.
供更多信息。签订本协议、开户以及与我们交易即表示您保证向我们提供我们为了遵守 AML/CTF 法案而合理要求的一切额外信息和协助。您还保证：您不知道且没有理由怀疑：
活动提供资金;而且您或您的董事(若为公司)都不是《2007 年反洗钱和反恐规则文书》 (1)
2.13 OUR OFFICE AND TRADING HOURS 我们的办事处和交易时间
a. Hours: our office and trading hours and general financial practices are set out on our website.
b. Limited trading hours: we are under no obligation to quote prices or accept orders or instructions in respect of any contract to which limited hours trading applies during any time when the relevant underlying exchange is closed for business.
3 YOUR ACCOUNT 关于开户
3.1 OPENING 开户
After we accept your application, we will open an account in your name. We may split your account into different sub-accounts denominated into different currencies and references in this Agreement to your account is to be taken to include reference to subaccounts or the relevant sub-accounts, as the case requires. We reserve the right to refuse to open an account for any reason whatsoever.
3.2 ACCOUNT INFORMATION 账户信息
You undertake and warrant to us that any information provided to us is correct and that you will immediately inform us of any material change to that information, and including any changes to your contact details or financial status.
3.3 TRUST ACCOUNT 信托账户
All moneys deposited by you to the credit of your account is client money within the meaning of the Australian client money rules, which are provisions of the Corporations Act, and which will be held in an account with an Australian ADI or an approved foreign bank in accordance with the Australian client money rules. Client money is held in trust for the clients entitled to it, or if the money is invested in accordance with the Australian client money rules, the investment is held in trust for the clients entitled to it. You are referred to Clause 22 and our PDS for a description of the operation of the client money rules and how you are affected by them.
客户资金，该资金将根据澳大利亚客户资金规则在澳大利亚 ADI 或获准外国银行开设的账
它们如何影响您，请参阅第 22 条和我们的 PDS。
3.4 NAMING OF CLIENT 客户命名
Where two or more natural persons and no others are named as the client, the account will be established in their names as joint tenants unless they specifically advise otherwise. In all other cases, the accounts will be established in the names as tenants in common. All account holders shall be jointly and severally liable for losses, fees or charges arising on a joint account. Among other things, this means that any monies owed on the account shall be payable in full by you or any of the other joint account holders
3.5 ACCOUNT DETAILS 账户详情
Upon opening an account with us, you will be given an internet specific password, which must be
declared, together with your account number, when you wish to access your account. You will also be given an account name, which must also be declared to access your account in certain circumstances.
It is your responsibility to keep your account number and security information confidential and agree that you will not disclose your account number or password to any other person.
You will be deemed to have authorised all trading under your account number irrespective of whether the person using it for the purpose of trading is using it with your authority, unless the trade in question is not one that you in fact authorised directly or through a power of attorney; and
. The person using the account number obtained it from us as a result of our negligence, or
. We otherwise act negligently in accepting instructions on your account.
4 INSTRUCTIONS AND DEALING 指示和交易
4.1 BY TELEPHONE 通过电话
When you trade by telephone your instructions to open or close a trade must be given to our trader
during the same telephone conversation in which the quote was given. We have no liability to you if this telephone conversation is interrupted before we receive an instruction from you to trade on that quote; nor are we under any obligation to repeat the quote in a subsequent conversation.
We will not accept an order left with other employees, on an answering machine or on a voice mail facility.
4.2 CHANGING AUTHORISED PERSONS 变更授权人士
You may, by written notice, change the persons who are authorised from those indicated on the application; but we are not bound by any such variation until we actually receive written notice. We may act upon the oral or written orders or instructions of any authorised person, or any person who appears to us to be an authorised person, despite the fact that the person may not be authorised. For example, we are entitled to act on any orders or instructions transmitted using your user name, account number, user id or password.
按照用您的用户名、账号、用户 ID 或密码发出的指令或指示行事。
4.3 ACCOUNT SECURITY INFORMATION 账户安全信息
You are required to keep all security information relating to the account, including, but not limited to, any user name, account number, user id and password, confidential and we do not have to establish the authority of anyone using these items. If you are aware or suspect that these items are no longer confidential, you should contact us as soon as practicable so that they may be changed.
您必须为账户的所有安全信息保密，包括但不限于任何用户名、账号、用户 ID 和密码，而我们不必确定使用这些项目的任何人士的权限。若您知道或怀疑这些项目不再保密，您应
4.4 FURTHER INSTRUCTIONS 进一步指示
We may require instructions from you in respect of any margin FX contract or proposed margin FX contract and if we do, you must promptly provide us with that information. If you do not, we may, in our absolute discretion take all such reasonable steps at your cost as we reasonably consider necessary or desirable for our or your protection. But this does not detract from your responsibility to keep yourself informed at all times as to the key dates and events affecting your margin FX contracts.
4.5 CONFIRMATION OF INSTRUCTIONS 确认指示
We may also, although we are not obliged to, require confirmation of any order or instruction:
. If any instruction is to close an account or remit money to you; or
. Otherwise, if it reasonably appears to us that confirmation is necessary or desirable.
4.6 ACKNOWLEDGEMENT OF INSTRUCTIONS 承认收到指示
Instructions may be acknowledged orally or in writing by us, as appropriate.
4.7 INTERNET INSTRUCTIONS 互联网指示
Subject to Clause 4.8 any order or instruction sent by you by internet will only be deemed to have
been received, and will only then constitute a valid instruction and binding margin FX between you and us, when such order or instruction has been recorded as accepted and confirmed to you (see earlier).
在遵守第 4.8 条的情况下，您通过互联网发送的指令或指示只有在该指令或指示被记录为
4.8 INSTRUCTION NOT A CONTRACT 指示并非合约
When you transmit an order or instruction to us, this does not automatically give rise to a binding
margin FX between you and us because any order made by you is always subject to us accepting your offer and such order having been recorded as accepted and confirmed by us to you. You are
responsible for inquiring of us if a confirmation is expected in relation to a transaction, but has not
been received by you.
Right not to accept orders 有权不接受指令
We may, but shall not be obliged to, accept instructions to enter into a transaction. If we decline to
enter into a proposed transaction, we shall not be obliged to give a reason but we shall promptly notify you accordingly.
Execution of orders 执行指令
We shall use our reasonable endeavours to execute any order promptly, but in accepting your orders we do not represent or warrant that it will be possible to execute such order or that execution will be possible according to your instructions. If we encounter any material difficulty relevant to the proper carrying out of an order on your behalf we shall notify you promptly. We shall carry out an order on your behalf only when the relevant market is open for dealings, and we shall deal with any instructions received outside market hours as soon as possible when that relevant market is next open for business (in accordance with the rules of that market). You agree that we may execute an order on your behalf outside market hours. We will notify you of any material changes to our order execution policy, but it is your responsibility to check for any other changes to our order execution policy as published from time to time at www.ilq.com.au. We will consider the continued placement of orders by you to constitute your continued consent to our order execution policy as in effect from time to time.
们将通知您，但是您有责任在 www.ilq.com.au 上查看不时公布的指令执行政策的任何其他
4.9 CORRECT DESIGNATION 正确标明
It is your responsibility to ensure that moneys sent to us are correctly designated in all respects,
including, where applicable, that the moneys are by way of margin and to which of your accounts
they should be applied. We will provide you from time to time with details of such arrangements as may apply to making payments to us, which may include permitting payments in different currencies as notified by us to you.
5 CONSENT TO RECORDING OF TELEPHONE CONVERSATIONS 同意电话录音承诺
You consent to: 您同意：
a. The electronic recording of your telephone discussions with us, with or without an automatic tone warning device; and
b. The use of recordings or transcripts from such recordings for any purpose, including, but not limited to, their use as evidence by either party in any dispute between you and us.
6 OPERATING YOUR ACCOUNT 运作您的账户
6.1 CHARGES AND FEES YOU PAY 您支付的手续费和酬金
You agree to pay the charges and fees and receive the benefits set out in this Agreement. You agree
that the fees and charges are subject to change and it is your responsibility to ensure that you are familiar with how the fees, charges, commission and other payments are calculated. You also agree to pay interest, in respect on any unpaid amount due under this Agreement, at a rate equal to three per cent per annum over the cash rate of the Reserve Bank of Australia (or of such monetary authority as may replace it). Such interest accrues and is calculated daily from the date payment was due until the date you pay in full and is compounded monthly.
6.2 INTEREST ON ACCOUNT 账户利息
The company shall not be obliged to pay interest to the customer on any funds which the company
holds. The customer waives all rights and entitlements to interest earned on the account.
6.3 COMMISSIONS 佣金
Other than in the limited circumstances set out in our PDS, we do not receive commissions.
除了我们的 PDS 载明的有限情况之外，我们没有收取其他佣金。
6.4 TIMING OF CREDITS DEDUCTIONS OR FEES WHICH YOU ARE TO PAY FROM
a. Any charges will be deducted from your account the day following the day on which the charges were incurred and benefits will be paid the day on which it was derived.
b. If a position is closed at a loss, that loss will immediately be deducted from your account and
your available trading resources will be adjusted accordingly.
c. If a position is closed at a profit that profit will immediately be credited to your account and your available trading resources will be adjusted accordingly, subject to Clauses 6 and 8 of
相应调整，但需遵守本协议第 6 和 7 条的规定。
6.5 INCORRECT CREDITING OF ACCOUNT 账户的错误贷记
a. Limitation of liability: except in the case of our fraud, we do not accept responsibility for, nor are we liable for, any loss or damage suffered by you as a result of you trading on moneys deposited in or credited to your account in error by, or upon behalf of, us.
b. Permitted deductions: we are entitled at any time to deduct, without notice or recourse to you, any moneys deposited in, or credited to, your account in error by, or on behalf of, us.
6.6 REPORTING TO YOU 交易报告
a. Confirmations: in respect of each contract entered into by us with you a confirmation will appear in the trading platform. If the confirmation does not appear you must contact us immediately and if you do not do so the details, or lack thereof, that we have recorded in relation to the contract will be deemed to have been accepted by you. The prices quoted on confirmations sent to the client will be net of any charges, which may not be separately identified. The client agrees to receive confirmations in this form.
b. Trading Platform: 交易平台：
i. You agree and acknowledge that: reports to you via our trading platform where you will be able to view, download and print them;
ii. You authorise us to use the trading platform as the means of providing the confirmations, daily statements, monthly statements and other reports we make;
iii. You will access and use such trading platform to:
A. Receive the confirmations, daily statements, monthly statements and other reports we provide;
B. Confirm all contracts; and 确认所有合约;以及
C. Monitor your obligations under this Agreement. 监控您在本协议下的义务。
7 OPENING A TRADE 开启交易
7.1 NO RIGHTS IN UNDERLYING INSTRUMENT 在基础工具中不享有权利
A trade does not entitle you to any rights in relation to the underlying instrument being traded and you will not be entitled to delivery of the underlying instrument; nor will you acquire any ownership or other such rights in relation to it.
7.2 OPENING A TRADE USING OUR TRADING PLATFORM
You will be able to open or close a position and execute limit orders and stop loss orders on a trade opened with us via our trading platform. We will have no liability to you if any internet connection is lost with the result that you are unable to trade at any given price.
We do not warrant that the trading platform will always be available or accessible when the exchanges on which the underlying instruments in respect of which you have traded or wish to trade are open and we reserve the right to remove altogether or reduce the trading platform service at any time for any purpose, without thereby incurring any liability to you.
If our computer records are at variance with your own records or recollection of your trading, the
version of events recorded contemporaneously by our computer will prevail and our obligations to
each other (including the obligation to pay any money) will be assessed and calculated on the basis that our contemporaneous computer records are correct and are conclusive evidence of the matters they record.
7.3 TELEPHONE 电话
a. You may request a quote to open a trade or close a position or otherwise give trading instructions by telephone on one of our designated trading lines. Indeed, you must do so if you are experiencing difficulty with our trading platform or website in placing a trade or closing an open position.
b. When you trade by telephone your instructions to open or close a margin FX, must be given to our trader during the same telephone conversation in which the quote was given. We have no liability to you if this telephone conversation is interrupted before we receive an instruction from you to trade on that quote; nor will we be under any obligation to repeat the quote in a subsequent conversation.
7.4 NATURE OF QUOTE 报价性质
A quote given to you by one of our traders is not an offer to contract. If you indicate that you wish to trade at the price quoted you will be deemed to be making an offer to trade at the quoted price and our trader will be entitled to confirm or reject that offer. No trade will be effective unless and until such confirmation is given.
7.5 FORMATION OF CONTRACT 合约的成立
Your clicking ‘buy’ or ‘sell’ or accepting a quote to buy or sell by telephone will send a message to
our traders indicating that you wish to trade on the terms and conditions Indicated. This message will constitute an offer by you to buy or sell at the price and trade size chosen. If we accept the trade we will send you a message to this effect. Your Trade will not have been placed and no contract will come into existence until we send this message to you. You must wait for this message to appear after sending a ‘buy’ or ‘sell’ message and should you not receive this within two minutes you must notify us immediately. If you do not receive our confirmation and you do not notify us as required, you will be deemed to have agreed only the transactions recorded by us. Similarly, if you dispute the contents of any confirmation sent by us to you, you must notify us immediately upon receipt by telephone; if you do not, the transactions recorded by us will be deemed to have been agreed by you.
7.6 CURRENCY 货币
All trades will be conducted in the currency appropriate to the trade and will be converted into Australian dollars at the previous day’s official closing exchange rate for the purposes of calculating the components of your account summary.
7.7 AUSTRALIAN DOLLARS 澳元
All payments made by you to us and by us to you will be in Australian dollars unless otherwise agreed.
7.8 POSITION DURATION 头寸期限
A position has no inherent limit to its duration and, subject to the payment of margin and other relevant sums, can continue indefinitely. Any position opened by you may be closed by us at the prevailing rate if there is an event of default.
7.9 OPPOSING POSITIONS 相反头寸
a. You may run opposing positions in margin FX contracts in the same currency pair and a position in a market where you have an opposing position already opened. Both long and short positions will appear in your trade account and they will be treated as two open positions. When you choose to keep two opposing open positions they will be revalued and rolled as an individual open position until you choose to offset or match the two positions.
b. You may run opposing positions in the same market and a position in a market where you have an opposing position already open will automatically be deemed to be an instruction to close the earlier position. If you have more than one open position in the same market, closing trades will apply to them on a first opened first closed basis, unless otherwise agreed by us.
7.10 DIFFERENCE IN BUY AND SELL PRICES 买入和卖出价格的差额
You understand there may be a wider difference between ‘buy’ and ‘sell’ prices you are quoted on
closing a position than when it was opened.
7.11 PROFIT AND LOSSES 利润和损失
You further understand that a payment will pass between us equal to the difference in value expressed in Australian dollars between the opening price of all positions and their closing prices. If you make a profit we must pay a sum to you equal to that profit. If you make a loss you must pay to us a sum equal to that loss.
8 PRICING 定价
8.1 QUOTES 报价
We will quote prices which provide an indication of the prices at which we are prepared to deal with you and which are calculated in accordance with Clause 8.4 for margin FX. You should note that:
我们所报出的价格为我们准备与您交易的价格，对于外汇保证金而言，该价格根据第 8.4 条
a. Principal: we act under this Agreement as a principal, and accordingly, set the applicable price at which we are prepared to deal with you;
b. Other prices: prices that may be quoted or traded upon from time to time by third parties do not apply to trades and dealings between us and you;
c. Different prices: we, in our absolute discretion, may quote different prices to different clients and trade at different prices with different clients;
i. Underlying instrument: neither you or us: 基础工具：您和我们皆不可使用不同价格;
ii. Acquire any interest in, or right to, acquire; and 获得其中的任何利益或权利;以及
iii. Is obliged to sell, purchase, hold, deliver or receive any underlying instrument;
d. Make and receive payments: the rights and obligations of you and us under margin FX contracts are principally to make and receive such payments as are provided in this Agreement and any margin FX contract.
8.2 AMENDED QUOTES AND MARGIN FX CONTRACTS OUTSIDE THE NORMAL
When you make a request to place an order, we may: 当您请求下单时，我们可以：
a. Provide an amended quote of the contract price originally quoted by our trading platform; and/or
提供我们交易平台最初报出的合约价格的修正价格;和 / 或
b. Make the quote subject to special conditions and requirements as we consider fair and reasonable and as notified to you by us at the time of the order being considered by us. This may occur, for example, when you place an order outside the normal trading size, or the aggregate of your order and all other orders for a margin FX contract is outside the normal trading size, or to take account of any change in market conditions since the original quote. Such amended contract price will be determined by us as we consider fair and reasonable having regard to the applicable prices and costs of entering into a transaction of that size on the relevant market. You will not be obliged to proceed with any order for which special conditions and requirements are notified to you by us. For example, we may quote a revised price applicable to the proposed margin FX contract which you may, at your absolute discretion, accept or reject. The amended quote may no longer be available if there is any delay in acceptance.
8.3 MINIMUM TRADING SIZE 最低交易量
The size of your margin FX must equal or exceed the minimum trading size.
8.4 MARGIN FX 外汇保证金
a. The contract unit: 合约单位：
A margin FX contract will be one currency unit of the primary reference currency.
b. Our pricing: 我们的定价：
i. The contract price of a margin FX will be a bid or offer price (whichever is applicable) calculated by us by applying our spread to the interbank rate.
ii. If the specified date of a margin FX contract is other than a date generally quoted in the market, we will calculate the interbank rate from the available market prices for other value dates as we consider representative, fair and reasonable.
8.5 YOUR CHOICE TO DEAL 您的交易选择
Except where: 除非：
a. We exercise any of our rights to close out a margin FX contract; or
b. A margin FX contract closes automatically; 外汇保证金合约自动平仓;
It is your responsibility to decide whether or not you wish to deal at those prices. If you decide to deal at the prices indicated by us, you may make an offer to us to deal at that price. We may choose, in our absolute discretion, whether to accept or reject any offer to deal made by you.
8.6 ERRORS IN PRICES 价格错误
a. It is possible that errors, omissions or misquotes (“material error”) may occur in the pricing of margin FX contracts quoted by us, which by fault of either of us or any third party, is materially incorrect when taking into account market conditions and quotes in underlying instruments which prevailed at the time. A material error may include an incorrect price, date, time or margin FX contract or any error or lack of clarity of any information. If a trade is based on a material error, we reserve the right without your consent to:
i. Amend the terms and conditions of the margin FX contract to reflect what we consider to have been the fair price at the time the margin contact was entered into and there had been no material error;
ii. Close the trade and any open positions resulting from it; or
iii. Void the margin contact from the outset; 宣布保证金合约自始无效;
iv. Refrain from taking action to amend or void the margin FX contract.
b. We will exercise the right in Paragraph 8.6(a) reasonably, in good faith and as soon as reasonably practicable after we become aware of the material error. To the extent practicable, we will give you prior notice of any action we take under this clause; but if it is not practicable we will give you notice as soon as practicable afterwards. In the absence of fraud or gross negligence on our part, we are not liable to you for any loss, cost, claim, demand or expense that you incur or suffer (including loss of profits or indirect or consequential losses), arising from or connected with the material error including where the material error arising from an information service on which we rely.
发现重大失误后，我们将合理、善意并尽快行使第 8.6(a) 款规定的权利。只要切实可行，我们将事先通知您我们根据本条规定采取的措施;但是，如果不可行，我们将在其后尽快通知您。若我方不存在欺诈或重大过失，我们无需向您负责您因重大失误(包括我们依赖的任何信息出现的重大失误)产生或承受或与之相关的任何损失、成本、索赔、要求或费用(包括利润损失或间接或结果性损失)。
c. In the event that a material error has occurred and we exercise our rights under Paragraph 8.6 (a), we may, without notice, adjust your account or require that any moneys paid to you in relation to the margin FX contract the subject of the material error be repaid to us as a debt due payable to us on demand.
若出现了重大失误，而我们按照第 8.6(a) 款行使了我们的权利，则我们可以调整您的账户或要求将针对外汇保证金合约支付给您的资金(即重大失误的标的物)退还给我们，作为按要求到期应付给我们的债务。
8.7 PRICE, EXECUTION PROCESS AND TRADING PLATFORM MANIPULATION
If we reasonably believe that you have manipulated our prices, our execution processes or our trading platform, we may in our sole and absolute discretion without notice to you:
. Enforce the trade(s) against you if it is a trade(s) which results in you owing money to us;
. Treat all your trades as void from the outset if they are trades which result in us owing money to you, unless you produce conclusive evidence within 30 days of us giving you notice under this clause that you have not committed any breach or warranty, misrepresentation or undertaking in this Agreement;
. 如果交易将导致我们对您负债，我们将视您的所有交易自始无效，除非您在我们根据本条规定通知您后 30 日内出示确凿证据，证明您没有违反本协议中的任何保证、声明或承诺;
. Withhold any funds suspected to have been derived from any such activities;
. Make any resultant corrections or adjustments to your account; . 纠正或调整您的账户;
. Close your account; and/or . 关闭您的账户;和 / 或
. Take such other action as we consider appropriate. . 采取我们认为适当的其他措施。
8.8 SCALPING AND EA POLICY 剥头皮和智能交易政策
In order to ensure the stability of the ILQ platforms and products, trading accounts using scalping strategies (we define scalping as a method traders use where they open and close trades within 120 seconds, and this scalping trades constitute more than 25% of total trades) and/or EA strategies (and EA is an Expert Advisor, which is an added on software linked to a Meta Trader currency platform and allows for automatic trades under certain conditions) may be closed at any time at the discretion of ILQ. Additionally, ILQ reserves the right to, and the customer agrees to allow, ILQ to adjust any trades which were executed pursuant to a scalping and/or EA strategy.
为确保 ILQ 平台和产品的稳定性，使用剥头皮战略(我们将剥头皮定义为交易员采用的在 120 秒内完成开仓与平仓的一种方法，并且剥头皮交易在总交易额中的比例超过 25%)和 / 或 EA 战略(EA 是指智能交易，是一款连接至 Meta Trader 货币平台的加载软件，可允许在某些条件下自动交易)的交易账户可以由 ILQ 随时酌情关闭。此外，ILQ 保留权利，可调整根据剥头皮和 / 或智能交易政策执行的任何交易，客户也同意 ILQ 这样做。
9. MARGIN 保证金
9.1 INITIAL MARGIN 初期保证金
Upon placing a trade that creates an open position you are required to pay us, or have in your account, the margin for that trade as calculated by us (“initial margin”).
Initial margin requirement = (margin percentage x trade size) x quantity of contract.
初期保证金要求 = (保证金百分比×交易量)×合约数量。
9.2 MARGIN WHILE POSITIONS OPEN 开仓时的保证金
In addition to the initial margin, you must have in respect of all open positions on your account margin calculated on the basis of the current contract price then being quoted and determined by us under Clause 8.4 of this Agreement. The amount of margin on your account at any time will be determined as if such payments as are due under this Clause 9 were calculated and deducted from your account on an ongoing basis during the day and based on the current bid or offer contract price (as applicable).
金，该价格为我们当时根据本协议第 8.4 条报出和确定的价格为准。您账户的保证金金额
将按照第 9 条规定的到期付款已经依据当时的买入或卖出合约价格(视情况而定)计算出
9.3 CONTINUING MARGIN OBLIGATION 持续保证金义务
You also have a continuing margin obligation to us to ensure that at all times during which you have opened positions your account balance, that is your total net equity, taking into account all realised or unrealised profits and losses (“P&L”), is equal to at least the margin that we require you to have paid to us for all of your open positions. If there is any shortfall between your account balance (taking into account P&L) and your total margin requirement, you are required to deposit additional funds into your account. These funds are due and payable to us immediately on your account balance (taking into Account P&L) falling below your margin requirement.
未实现利润和损失 (“P&L”) 的净权益总额，至少等于我们要求您为所有敞口头寸支付给我们的保证金。如果您的账户余额(将 P&L 考虑在内后)和总保证金要求之间存在差额，您必须向您的账户存入额外资金。当您的账户余额(将账户 P&L 考虑在内后)低于您的保证金要求时，该等资金应当立即到期支付给我们。
9.4 EXCEPTIONS 例外情况
The requirements imposed under Clauses 9.1 to 9.3 will vary in the following circumstances:
第 9.1 至 9.3 条规定的要求将根据以下情况而有所不同：
a. We have expressly told you that you have an account type that allows for longer payment periods for margin, in which case you must pay margin in accordance with the payment periods that we have advised you;
b. We have expressly agreed to reduce or waive a part of the margin that we would otherwise require you to pay us in respect of a trade; the period of waiver or reduction may be temporary and must be agreed in writing by us. Any such agreement will not restrict our right to seek further margin in respect of the trade or open positions at any time thereafter;
c. We agree otherwise in writing, in which case you will be required to comply with such terms and conditions as stated in such written agreement;
d. When you hold open positions in a margin FX contract and you place one or more trades in the opposite direction in a margin FX contract with the same underlying instrument, your margin requirement for all open positions with the same underlying instrument is the larger of the aggregate of the margin requirements for all long positions or the aggregate of the margin requirements for all short positions;
e. For certain margin FX contracts or options or option related instruments;
f. If we change the margin percentage under Clause 9.5. In the case of your continuous margin obligation set out in Clause 9.3, you will not be required to pay it if we have extended you a credit facility, and you have sufficient credit to cover your margin requirements. However, if at any time the credit facility is not sufficient to cover the margin requirement on your open positions you must immediately place additional funds in your account in order to fully cover the margin requirements.
若我们更改第 9.5 条规定的保证金百分比，对于第 9.3 条规定的持续保证金义务，您不必支付它，只要我们延长了您的信贷融通，而且您有足够的信用来满足您的保证金要求。但是，如果信用融通不足以满足敞口头寸的保证金要求，则您必须立即追加资金到您的账户，以完全满足保证金要求。
9.5 CHANGING MARGIN PERCENTAGE 更改保证金百分比
We may vary the margin percentage, but we will only do so where we reasonably consider it necessary, for example in response to or in anticipation of the following:
. Changing volatility and/or liquidity in the underlying instrument or in the financial markets generally;
. 更改基础工具或整个金融市场中的波动和 / 或流动性;
. Economic news; . 经济新闻;
. Changes in your dealing pattern with us; . 改变您与我们的交易模式;
. Your credit circumstances change; or . 您的信用状况改变;或
. Your exposure to us being concentrated in a particular underlying instrument.
You should note that there may be other circumstances which may give rise to us changing your margin percentage.
9.6 NOTIFICATION OF INCREASED MARGIN PERCENTAGE 增加保证金百分比的通知
We will notify you of a change in the margin percentage by any of the following means: telephone, post, fax, email, text message or by posting notice of increase on our website. Any increase in margin arising from an increase in the margin percentage will be due and payable immediately on our demand, including any deemed demand in accordance with Clause 35.
立即到期支付，包括第 35 条规定的视同要求。
10. YOUR OBLIGATION TO PAY AND MONITOR MARGIN 您支付和监控保证金的义务
10.1 YOU MUST PAY MARGIN 您必须支付保证金
a. You must pay to us such amounts by way of margin as we may require under this Agreement, including but not limited to margin calculated by reference to this Agreement and the PDS and in order to always maintain the minimum total equity balance.
您必须以保证金的形式向我们支付我们根据本协议要求的金额，包括但不限于参照本协议和 PDS 计算的保证金，以便时刻维持最低权益总额余额。
b. Your failure to pay any margin required under this Agreement will be regarded as an event of default for the purposes of Clause 14.
您未能按本协议的要求支付保证金将被视为违反第 15 条规定。
10.2 YOU MUST MONITOR MARGIN 您必须监控保证金
a. Through the electronic facility we will provide you with access to your account and sufficient information to enable you to calculate the amount of any margin required by us under this Agreement and notify you of the total amount of margin due from you in the base currency using our exchange rate. Nevertheless, it is your responsibility when placing any orders over the telephone to ensure that you request all relevant information in respect of your account before placing any orders to open or close a position, including all information in respect of your current open positions. We will not be responsible for any losses you may suffer or incur as a result of not requesting any such information.
b. It is your responsibility to monitor at all times the amount of margin deposited with us from time to time against the amount of any margin currently required under Clauses 9 and 10 of this Agreement and any additional margin that may be necessary or desirable, having regard to such matters as:
您有责任结合以下事项时刻监控不时存在入我们公司的保证金金额，包括本协议第 9 和第 10 条目前要求的保证金金额以及可能必要或需要的追加保证金：
i. Your open positions; 您的敞口头寸;
ii. The volatility of any relevant underlying instrument; 相关基础工具的波动;
iii. The volatility of the relevant market; 相关市场的波动;
iv. The volatility of the markets generally; 市场大体波动;
v. Any applicable exchange rate risk; and 相关汇率风险;以及
vi. The time it will take for you to remit sufficient cleared funds to us.
10.3 NO OBLIGATION TO MAKE MARGIN CALL 没有义务追加保证金
We are not under any obligation to keep you informed of your account balance and required margin by making a margin call. However, if we do so, the margin call may be made by telephone call, post, fax, email or text message. The margin call is deemed to have been made as soon as you are deemed to have received such notice in accordance with Clause 35. We are deemed to have made a demand on you if:
做，我们可以通过电话、邮寄、传真、电邮或短信形式追加保证金。一旦您根据第 35 条的
a. We have left a message requesting you to contact us and you have not done so within a reasonable time after we have left such a message; or
b. If we are unable to leave such a message and have used all reasonable endeavours to contact you by telephone at the telephone number last notified to us by you, but have been unable to contact you on such number.
10.4 TIMING OF CHANGES TO MARGIN PERCENTAGE 更改保证金百分比的时间
You agree and acknowledge that any variation of the margin percentage under Clause 9.5 of this
Agreement may take immediate effect on and from you being given oral or written notice of the
variation in accordance with this Agreement.
您同意和承认，本协议第 9.5 条规定的保证金百分比变更可以从您得到本协议规定的口头
10.5 NO ONLINE ACCESS 无法在线访问
Where we are not able to provide you on-line access through the electronic facility to information on the account due to circumstances that are reasonably within our control, we will use reasonable
endeavours to make a margin call. You accept that in extreme circumstances where your open positions are moving or have moved particularly quickly against you, we may not provide a margin call before exercising our rights to close out your positions under this Agreement.
10.6 YOUR OBLIGATION TO NOTIFY US 您通知我们的义务
It is your responsibility to notify us immediately of any changes in your contact details and to provide us with any alternative contact details and ensure that our margin calls will be met if you will be un contactable at the contact address or telephone number notified to us. You acknowledge that we are not liable for any losses (including indirect or consequential losses), costs, expense or damages incurred or suffered by you as a consequence of your failure to do so.
10.7 TIME ALLOWANCE FOR FORWARDING MARGIN 转寄保证金的时间宽限
We are not obliged to allow you time to forward further funds to meet such margin as is required under this Clause 10 before exercising our right to close out your positions. However, where we, in our absolute discretion, do allow you time to meet your margin requirements, that permission will only be effective once it is confirmed in writing by us, and only to the extent specified in the written notice given by us.
我们没有义务在行使平仓权利之前留时间给您转寄更多资金以实现第 10 条要求的保证金。
11 CLOSING A MARGIN FX CONTRACT 结束外汇保证金合约
11.1 WHEN CAN A MARGIN FX CONTRACT BE CLOSED?
A margin FX contract may be closed out if: 外汇保证金合约可在以下情况抛售：
a. You give instructions to close a margin FX contract, by entering into an equal and opposite
contract as follows:
i. Single position closing: a single open trade position can be closed by choosing the close button when you execute the trade on line. The contract will be closed and offset by the opposite trade.
b. We may exercise any of our rights under this Agreement to close a margin FX contract.
11.2 METHOD OF CLOSING MARGIN FX CONTRACTS 平仓外汇保证金合约的方法
Where we exercise any of our rights under this Agreement to close a margin FX contract we will do so by entering into an equal and opposite margin FX contract on the account.
11.3 CONTRACT PRICE AT CLOSING 平仓时的合约价格
Where a margin FX contract is closed under this Agreement, we will determine the contract price at the time of closing in accordance with the current prices then being quoted by us.
11.4 CONTRACT VALUE AT CLOSING 平仓时的合约价值
A margin FX contract will close at the contract value at the time of closing as calculated by us, which will equal:
Contract price x contract quantity 合约价格×合约数量
And as notified to you. 我们将告知您合约价值。
11.5 TIMING OF PAYMENTS 付款时间
Any payment due by either us or you under this Clause 11 in respect of dates on or after the closing date will be made by us adjusting the account at close of business on the settlement date.
我们将通过在结算日营业结束时调整账户的方式支付第 11 条规定的我们或您在平仓当日
. If the amount calculated as the contract value is greater than the amount calculated as the opening value, credit the difference to the account; and
. If the amount calculated as the opening value is greater than the amount calculated as the contract value, debit the difference from your account.
12 CLOSE OF BUSINESS ACCOUNTING 营业结束核算
12.1 WHEN WE ACCOUNT 我们何时核算
Commencing at close of business on the date of the transaction and at close of business on each subsequent business day during the terms of the margin FX contracts (including the closing date), we will account under this Clause 12.
业结束时，我们将根据第 12 条的规定核算。
12.2 CONTRACT VALUE 合约价值
We will calculate the contract value, which will equal我们将计算合约价值，它等于
contract price x contract quantity. 合约价格×合约数量
12.3 CONTRACT VALUE AT CLOSE 平仓时的合约价值
Margin FX contracts: the contract price will be the offer or bid price, depending on whether you are long or short, calculated in accordance with Clause 8.4.
外汇保证金合约：合约价格将为根据第 8.4 条计算的卖出价或买入价，具体取决于您是多
12.4 VALUATION 估值
If on the date of the transaction: 若在交易之日：
. The current contract value exceeds the opening value, the short party will pay to the long party such excess;
. The opening value exceeds the current contract value, the long party will pay to the short party such excess.
If, on any business day during the term of the margin FX contract (including the closing date):
. The contract value exceeds the contract values on the preceding business day, the short
party will pay to the long party such excess;
. The closing value on the preceding business day, exceeds the current contract value, the long
party will pay to the short party such excess.
12.5 DAILY SWAPS OF MARGIN FX CONTRACTS 外汇保证金合约的每日掉期
When you hold a position or positions overnight in a margin FX contract they will be rolled to the next business day which will result in you paying a swap charge or receiving a swap benefit at the ILQ swap rate and the amount depends on our swap rate, being the rates at which you receive or pay interest on positions that remain open overnight. This is a varying rate dependent upon the applicable rate in the interbank markets for the currencies or bullion, the duration of the rollover period, the size of the position and the ILQ spread that is applied at our discretion.. The operation of this Clause 12.5 is subject to Clauses 12.7 to 12.9.
金属的相关费率、展期持续期间、头寸规模和 ILQ 价差而各异。执行第 12.5 条须遵守第
12.7 和 12.9 条。
12.6 ENTITLEMENT 权利
If you are long on a margin FX contract you may either receive a swap benefit or pay a swap charge, depending on the currency you are long, subject to Clause 12.7 and if you are short on a margin FX contract you may either pay a swap charge or receive a swap benefit, depending on the currency you are short on, subject to Clause 12.8.
如果您做多头外汇保证金合约，根据您做多头的货币和第 12.7 条的规定，您可能会获得掉
期收益或支付掉期费用;而如果您做空外汇保证金合约，根据您做空的货币和第 12.8 条的
12.7 LONG MARGIN FX CONTRACTS 多头外汇保证金合约
If you are long on a margin FX contract where the bought currency interest rates are higher than the sold currency interest rates you will receive interest at the swap rate if you hold the position overnight and do not close it before the settlement time. This is because you are holding the higher yielding currency. On the other hand, if you are long on a margin FX contract where the bought currency interest rates are lower than the sold currency interest rates then you will pay interest at the swap rate if you hold the position overnight and do not close it before the settlement time. This is because you are holding the lower yielding currency.
12.8 SHORT MARGIN FX 空头外汇保证金
If you are short on a margin FX where the sold currency interest rates are higher than the bought
currency interest rates you will pay interest at the swap rate if you hold the position overnight and do not close it before the settlement time. This is because you are holding the lower yielding currency. On the other hand, if you are short on a margin FX contract where the sold currency interest rates are lower than the bought currency interest rates then you will receive interest at the swap rate if you hold the position overnight and do not close it before the settlement time. This is because you are holding the higher yielding currency.
12.9 REVALUATION OF POSITIONS AFFECTED BY LIMITED HOURS TRADING
You acknowledge that any reduction by the application of limited hours trading under this Agreement has the result that open positions will be marked to market after close of trading on the primary exchange and your margin requirement will vary accordingly. If you do not wish to accept this additional risk, you may close out any affected contract at any time after notice has been to you.
12.10 SETTLEMENT 结算
In relation to swap charges and benefits, they will be accrued in the swap value field of your open
trade position. In the event there are insufficient funds in your account, any amount due to us because of the swap charges becomes a debt due and owing by you to us.
13 STOP LOSS ORDERS AND LIMIT ORDERS 止损指令和限价指令
13.1 AVAILABILITY OF ORDERS 指令可用性
Stop loss orders and limit orders are only available on selected instruments. We may refuse to accept any stop loss orders or limit orders on any trade. Such orders, if we do accept, may be placed or cancelled at any time during the trading hours of the exchange on which the underlying instrument is traded.
13.2 MARGIN REQUIREMENTS TO FILL ORDERS 完成指令的保证金要求
An order which involves an instruction to us to open a trade above a certain price will not ordinarily be filled unless at the time when the price reaches the relevant limit your account contains sufficient trading resources to cover the initial margin for the trade which is to be opened. We may, however, at our discretion proceed to fill such an order notwithstanding that your account has insufficient trading resources to cover the initial margin for the trade which is to be opened. In such circumstances we reserve the right at any time after the opening of the trade to require you to deposit cash in the amount of the required initial margin for that trade. Any such further cash deposits will be payable as margin in accordance with the provisions of Clause 10. A failure to make payment in the time and manner required will be an event of default. We reserve the right to refuse to open a trade in accordance with a limit order if:
加现金存款将根据第 10 条的规定支付并作为保证金。未能按规定的时间和方式付款将构成
a. There has been an event of default; and 已经出现违约时间;以及
b. In any other circumstances where we would be entitled to close the trade if it had already
13.3 LIABILITY FOR LOSSES ARISING FROM ORDERS 指令引起的损失责任
You will remain liable for any losses in your account which may be realised as the result of the filling of an order, regardless of the trading resources available on your account at the time the order was filled.
13.4 OUR RIGHT TO IMPOSE A STOP LOSS ORDER 我们强制执行下达止损指令的权利
We may impose a stop loss order on any of your open trades where we believe such action is necessary or desirable to limit the losses on any of your positions including, but without limitation
a. We have any reason whatever to think that you will not pay us any money that is or may become due to us; or
b. You make any statement to us which we have reason to believe is or may not be true; or
c. You fail to do anything that you have undertaken to us that you will do; or
d. We are having difficulty in communicating with you and there are grounds for believing that this is because you have failed to take reasonable care to ensure that you are contactable by
i. We leave a message on any message-taking facilities offered but we do not hear from you within 30 minutes of leaving the message (or, if we leave more than one, the first message we leave, although if we leave or attempt to leave a message, either with a person who offers to take a message or on a automated message- taking service but for any reason it does not reach you we will nonetheless be deemed to have left a message for you);
我们在提供的留言设施上留言，但留言后 30 分钟内仍未收到您的回复(或者，如果我们的留言不止一条，则在我们留给愿意留言的人士或自动留言机的第一条留言后 30 分钟内，如果我们留言或试图留，但该留言因故没有送达您，则我们仍然会被视为已经留言给您);
ii. No message-taking services are offered and we dial all the numbers given by you again after a period of not less than 30 minutes and are still unable to speak with you at once.
没有提供留言服务，而且我们在至少 30 分钟后再次拨打了您提供的所有号码，但仍然无法立刻与您交谈。
13.5 INFORMING YOU OF ORDERS WE IMPOSE 通知您我们强制执行的指令
We will as soon as is reasonably practicable after imposing a stop loss order attempt to inform you of it by telephoning you on the number or numbers that you leave with us and:
a. Informing you personally of the stop loss order or if this is not possible by;
b. Leaving a message if, and only if, there is an automated message-taking facility or a person who offers to take such a message for you. If a message is left, it will be deemed to have reached you whether or not it has in fact done so. We will also send written notification to you by post and/or email at the addresses that you have given to us. We are under no obligation to take any other steps to inform you of the stop loss order and a failure for any reason to inform you of the imposition of a stop loss order will not affect the validity or enforceability of that stop loss order.
有且只有自动留言设施或者有人愿意替您留言，则我们将通过留言通知您该信息。如果已经留言，则无论该留言是否实际送达，它都将被视为已送达您。我们也将通过邮寄和 / 或电子邮件发送书面通知到您提供给我们的地址。我们没有义务采取其他措施将止损指令通知您，因故未能通知您我们强制执行了止损指令不会影响该止损指令的有效性或执行力。
14 EVENTS OF DEFAULT 违约事件
14.1 WHAT CONSTITUTES AN EVENT OF DEFAULT 哪些事件构成违约事件
The following constitute events of default, which upon their occurrence give us the right to take action in accordance with Clause 14.2:
以下事件构成违约事件，该事件发生后，我们有权根据第 14.2 条采取措施：
a. An insolvency event occurs in relation to you; 您出现资不抵债事件;
b. You are an individual and you die or become of unsound mind;
c. You fail to provide any margin or other sum due under this Agreement in respect of any margin FX contract or the margin held by us in respect of any open positions falls below our margin requirements;
d. You are in breach of any warranty or representation made under this Agreement and/or any information provided to us in connection with this Agreement is or has become untrue or misleading;
您违反本协议下做出的任何保证或声明和 / 或我们就本协议提供给您的任何信息目前或已经变得不实或具有误导性;
e. Any fee due to us is not paid in accordance with this Agreement;
f. Whether or not any sums are currently due to us from you, where any cheque or other payment instrument has not been met on first expectation or is subsequently dishonoured or you have consistently failed to pay any amount owed to us in time;
g. At any time or for any period deemed reasonable by us you are not contactable or you do not respond to any notice or correspondence from us;
h. We reasonably believe it is prudent for us to take any or all of the actions described in Clause 14.2 in light of any relevant legal or regulatory requirement applicable either to you or to us;
我们合理相信，鉴于可适用于您或我们的任何相关法律或监管要求，我们应当审慎地采取第 14.2 条描述的任何或所有措施;
i. We reasonably consider that there are abnormal trading conditions;
j. We reasonably consider it necessary for the protection of our rights under this Agreement;
k. We are unable to make price in the margin FX contract due to the unavailability of the relevant market information for reasons beyond our control;
l. We consider that you may be in breach of any applicable law; 我们认为您可能违反适用法律;
m. We are so requested by ASIC or any other regulatory body or authority;
我们是根据 ASIC 或其他监管机构或当局的要求采取措施;
n. The aggregate of your order and all other orders for a margin FX contract is outside the normal trading size; or
您的指令和外汇保证金合约、外汇期权合约或 CFD 的所有其他指令集不在正常
o. A position limit is less likely to be exceeded. 超出头寸限额的可能性较小。
14.2 WHAT ACTION MAY WE TAKE? 我们可以采取哪些措施?
If an event of default occurs we may take all or any of the following actions:
a. Immediately require payment of any amount you owe us, including margin;
b. Terminate this Agreement; 终止本协议;
c. Close all or any of your open positions; 关闭您的所有或任何敞口头寸;
d. Limit the size of your open positions either in monthly terms or a number of margin FX contracts
e. Refuse orders to establish new positions; 拒绝建立新仓的指令;
f. Convert any ledger balances to the base currency of your account;
g. Exercise our rights of set off; 行使我们的冲销权;
h. Change the margin level at which we may close your account;
i. Impose new margin requirements to your trading or account;
j. Limit or withdraw the credit on your account; 限制或撤回您账户的信用;
k. Suspend your account and refuse to execute any trades;
l. Call on any guarantee in respect of your obligations; 要求为您的义务提供担保;
m. Require you immediately to close out and settle the margin FX contract in such a manner as we requested;
n. Enter into any transaction at such rates and times as we may determine in order to meet any obligation you may have incurred under a margin FX contract;
o. Combine, close or consolidate any of the accounts sustained by you and offset any and/or amounts owed to, or by, us in such manner as we may in our absolute discretion determine;
p. Retain any amount owed by us to you against any contingent liability of yours to us or so long as the contingency subsists.
14.3 ADDITIONAL CLOSING RIGHTS 其他关闭权利
We may also close your account on 14 days’ notice in the circumstances set out below. If we rely on our rights under this clause, your account will be suspended during the 14 day notice period and you will not be able to place trades other than those to close existing open positions. If you have not closed all the open positions within the 14 days’ notice we are entitled to take any action within Clause 14.2. The relevant circumstances are:
在下文规定的情况下，我们可在提前 14 日通知您后关闭您的账户。若我们依赖于本条规定
的权利，则您的账户将在 14 日通知期间内暂时冻结，您将无法开展交易，现有敞口头寸的
平仓交易除外。若您没有在 14 日通知期间内对所有敞口头寸平仓，则我们有权在第 14.2
a. Any litigation is commenced involving both of us in an adversarial position to each other and, in view of the subject matter of or any issues in dispute in relation to that litigation, we reasonably decide that we cannot continue to deal with you while the litigation is pending;
b. Where you have persistently acted in an abusive manner toward our staff (for example by displaying what we consider to be serious discourtesy or the use of offensive or insulting language);
c. Where we believe on reasonable grounds that you are unable to manage the risks that arise from your trades.