Dealing Condition

Dealing Condition

  1. Subject to the terms of this Customer Agreement and all related agreements, including the Risk Disclosure Statement and GIGFX Trading Rules and Regulations, the Customer Account Application and any applicable Addenda thereto, the Customer authorizes GIGFX to enter, purchase, sell, and clear OTC Foreign Exchange Contracts on a Spot Settlement basis for the Customer's Account in accordance with Customer's electronic, written or oral instructions received through the GIGFX Internet Trading Platform shall make available, through a real-time online electronic conversational/chat product - an electronic conversational application connected directly to the GIGFX trade execution desk, via telephone directly to the GIGFX trade execution desk, or via any other communicative means available that has been approved by GIGFX for Customer's use.

    Customer agrees to be responsible for any transaction instruction received by GIGFX either electronically via the GIGFX Internet Trading Platform or the any electronic conversation application (or similar product), or orally over the telephone. Before executing a transaction, GIGFX will require the Customer at least to provide User Name and Password authorization electronically via a login procedure or if contacted via the telephone, orally via an identification procedure. Correct information will authenticate the Customer and allow the Customer to conduct transactions in the authorized GIGFX Account for that authentication.

    If Customer's Account is a joint account, GIGFX is authorized to act on the instructions of anyone owner without further inquiry, with regard to trading in the Account and/or the disposition of any and all assets in the Account. GIGFX shall have no responsibility for further inquiry into such apparent authority and no liability for the consequences of any actions taken or failed to be taken by GIGFX or any of its employees, officers or agents in reliance on any such instructions or on the apparent authority of any such authorized person(s).

  2. GIGFX will make available, by posting on the GIGFX Internet Trading Platform or by Customer electronically contacting GIGFX via it's on line chat application (or any alternative designated by GIGFX), by telephoning the GIGFX dealing execution desk, or by any other communicative means available to GIGFX and it's Customers, Bid and Ask Prices at which GIGFX is prepared to enter Foreign Currency Contracts with authorized Customers. Each Bid or Ask Price shall be for a Spot Contract with a specified Value Date and for a specific Foreign Currency pair. GIGFX makes no warranty expressed or implied that Bid and Ask Prices shown represent prevailing bid and ask prices in the inter bank market. In addition, although GIGFX reasonably expects to make available continuous prices during business hours, because of a number of factors including but not limited to technology failures, communication system delays, lack of inter bank liquidity or high market volatility, GIGFX makes no warranties that dealing prices and liquidity will be available continuously to Customers either electronically or via the telephone or by any other communication devise.

  3. All Contracts made and entered into between Customer and GIGFX hereunder will be entered into by GIGFX as Principal. GIGFX will reasonably attempt to execute all Orders that it may, in its sole discretion, accept from Customer for the purchase or sale of Contracts in accordance with the Customer's electronic, written or typed, or oral instructions. However, GIGFX shall not be responsible for any loss or damage caused, directly or indirectly, by any events, actions or omissions beyond the reasonable direct control of GIGFX, including, without limitation, loss or damage resulting, directly or indirectly, from any delays or inaccuracies in the transmission of Orders and/or information due to a breakdown in or failure of any transmission or communication facilities.

    Customer acknowledges, understands and agrees that all Market Orders and non-Market Orders such as Limit Orders, Stop-Loss Orders, One Cancels the Other Orders, or any other non-Market Order transmitted and accepted by a GIGFX representative, are accepted by GIGFX and undertaken on a "Best Efforts Basis" in accordance with the relevant provisions of the Trading Rules and Regulations, as amended from time to time. The Customer acknowledges, however, that due to market conditions or other circumstances, GIGFX may be unable to execute the Order at the Market or specified level and the Customer agrees that GIGFX will bear no liability for failure to execute such orders. This includes but is not limited to all Orders that are entered over a weekend or holiday period when GIGFX is closed for business. In such circumstances, orders will be executed on a "Best-Efforts Basis" once the market is reopened on the next GIGFX business day. Customer acknowledges that execution may not be immediate or at the price dictated by the opening level due to imbalances in Orders, market conditions, market liquidity, price gaps or other circumstances. GIGFX shall have no responsibility for delays in the transmission of Orders due to disruption, market conditions, failure or malfunction of communications facilities and shall not be liable for any claims, losses, damages, costs or expenses, including attorneys' fees, to any person or entity as a result of its negligence.

  4. GIGFX reserves the sole discretionary right to limit the number of Open Positions which Customer may enter, acquire or maintain with GIGFX, to refuse acceptance of any Order entered by Customer or to alter its dealing relationship with the Customer to include or exclude use of any electronic trading network or other trade execution method in any manner and to any extent.

  5. It is GIGFX policy to immediately net (aggregate) all currency purchases and sales, including open Buy positions as well as open Sell positions for the same currency pair. Any resulting single aggregate position for the currency pair, if not liquidated by the end of the GIGFX business day, is rolled forward to the next Spot Date (see section 11)

  6. GIGFX in its sole and absolute direction may accept or reject orders to offset current Spot currency positions of Customer. GIGFX reserves the right to refuse to accept any order or guarantee a market in which to offset. Offset arrangements on Spot currency positions arriving at settlement date must be negotiated and accepted by GIGFX at least one (1) business day prior to the settlement date or rollover.

  7. The Customer authorizes GIGFX or agents acting on behalf of GIGFX to investigate Customer's credit standing and in connection there with to contact such banks, financial institutions and credit agencies as GIGFX shall deem appropriate to verify information regarding Customer. The Customer further authorizes GIGFX to investigate Customer's current and past investment activity, and in connection therewith, to contact such futures commission merchants, exchanges, broker/dealers, banks, and compliance data centers as GIGFX shall deem appropriate. Upon reasonable request made in writing by Customer to GIGFX, Customer shall be allowed to review any records maintained by GIGFX relating to the Customer's credit standing. Customer shall also be allowed, at Customer's sole cost and expense, to copy such records

  8. The undersigned hereby acknowledges and agrees that a situation may arise whereby an officer, director, affiliate, associate, employee, bank, bank employee or dealer associated with GIGFX, or GIGFX itself, may be the opposing principal broker for a trade entered for the undersigned's account. The undersigned hereby consents to any such transaction, subject to the limitations and conditions, if any, contained in the Rules and Regulations of any bank, institution, exchange or board of trade upon which such or by which such orders are executed, and subject to the limitations and conditions, if any, contained in other applicable Regulations

  9. All customer accounts are a sub-account of one major GIGFX account. All Customer accounts will have trades executed via GIGFX accounts and trading lines. All Customer accounts will have margin requirements established by the GIGFX dealing desk. The automated GIGFX trading system will distribute profits and losses accordingly to all Customer accounts. GIGFX may establish rules and provisions for Customer accounts, including but not limited to minimum account size, investment time period, commissions and incentive fees, or any other financial arrangements. It is the Customer's responsibility to find out all necessary information about GIGFX and ensure that all arrangements are discussed and clearly understood prior to any trading activity. It is the Customer's responsibility to find out all necessary information about a trading agent prior to any trading activity, if the account is to be traded by someone other than the Customer. All Customers should be aware that guaranteeing any return is illegal. In addition, GIGFX is not responsible for any claims or assurances made by GIGFX, its employees and/or associates

  10. Customer agrees hereby that GIGFX may at any time, in the sole judgment of GIGFX, apply and transfer from Customer's account to any of Customer's other accounts held with GIGFX or an affiliate of GIGFX or other approved financial institution or its associates any of the moneys, currencies or other property of Customer held either individually or jointly with others to another regulated account of the same said Customer

  11. Customer hereby consents to have Customer's account information and trade confirmations available on the Internet in lieu of having such information delivered to Customer via mail or email. Customer will be able to access account information via the GIGFX website using Customer's account login information to access the account GIGFX will post all of Customer's account activity and Customer will be able to generate daily, monthly and yearly reports of account activity as well as a report of each executed trade. Updated account information will be available no more than twenty-four hours after any activity takes place on Customer's account. Posting of account information on Customer's online account will be deemed delivery of confirmation and account statements. At all times, account information will include trade confirmations with ticket numbers, purchase and sale rates, used margin, amount available for margin trading, statements of profits and losses, as well as current open or pending positions

 

In the event of

  1. the death or declaration of incompetence of Customer;
  2. the filing of a petition in bankruptcy, or a petition for the appointment of a receiver, or the institution of any insolvency or similar proceeding by or against Customer;
  3. the filing of an attachment against any of Customer's Accounts carried by GIGFX ;
  4. insufficient Margin, or GIGFX Â determination that any Collateral deposited to protect one or more Accounts of Customer is inadequate, regardless of current market quotations, to secure the Account;
  5. Customer's failure to provide GIGFX Â any information requested pursuant to this Customer Agreement; or
  6. any other circumstances or developments that GIGFX Â deems appropriate for its protection; in GIGFX 's sole discretion it may take one or more or any portion of, the following actions:
    1. satisfy any obligation Customer may have to GIGFX , either directly or by way of guaranty of surety, out of any of Customer's funds or property in its custody or control;
    2. sell or purchase any or all Foreign Currency Contracts or other property held or carried for Customer, and
    3. cancel any or all outstanding Orders or Contracts, or any other commitments made on behalf of Customer. Any of the above actions may be taken without demand for Margin or additional Margin, without prior notice of sale or purchase or other notice to Customer, Customer's personal representatives, heirs, executors, administrators, trustees, legatees, or assigns, and regardless of whether the ownership interest shall be solely that of the Customer or be held jointly with others. Customer shall at all times be liable for the payment of any deficit balance in Customer's Account upon demand by GIGFX Â and, in all cases, Customer shall be liable for any deficiency remaining in Customer's Account in the event of the liquidation thereof in whole or in part by GIGFX Â or by Customer
      In the event that the proceeds realized pursuant to liquidation are insufficient for the payment of all liabilities of Customer due to GIGFX, Customer shall promptly pay upon demand the entire amount of any such deficit, together with all other deficits and all unpaid liabilities of Customer. Included are all costs of enforcement and collection, such as, but not limited to, actual attorneys' fees, disbursements, travel and other expenses, interest on any such deficit and liabilities at a rate equal to five
    4. percentage points above the then prevailing prime rate at GIGFX's principal bank or the maximum interest rate allowed by law, whichever is lower and any other cost incurred GIGFX incurs expenses other than those for collection of deficits with respect to Customer's Account; Customer agrees to pay all such expenses in full.

GIGFX's Trading Rules and Regulations combined with the GIGFX Risk Disclosure Statement and all other account documents, annexes and amendments thereto will outline procedures and policies regarding trading and setting up an account with GIGFX and are an integral term of the Customer Agreement. All Customers are required to read, understand and adhere to these rules and regulations. GIGFX reserves the right to change any rules or regulations at its sole discretion and at any time and any such changes automatically become part of the terms and conditions of the Trading Rules and Regulations with which all Customers must comply. Customer's mayor may not receive notice of such changes. By opening an account with GIGFX Customer agrees to adhere to GIGFX's Trading Rules and Regulations as amended from time to time

  • The GIGFX normal trading week begins at on Sunday and ends at 16:00 on Friday (times are subject to change)
  • GIGFX will announce and display on a best efforts basis a holiday schedule on the website when dealing will not take place
  • In the event of a holiday, GIGFX will pre-announce the start-up time when trading will resume in advance and display the information on the website
  • GIGFX reserves the right at its sole discretion to conduct special technical maintenance times when trading electronically may not be available
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