These supplemental terms should be read in conjunction with Client Agreement of XCOQ. This Supplement sets out the terms and conditions under which Client Agreement agrees to operate the Electronic Trading Service.
1. ONE STREET GROUP PTY LTDices Limited (“XCOQ” ) is the provider of direct access online brokerage to all major financial markets with integrated trading platforms and solutions for trade investors. XCOQ is authorised and regulated by the ASIC.
2. The Electronic Trading Service is the means by which XCOQ receives orders from the Client for execution.
3. This Supplement is effective as of the date of the Client Agreement and will remain effective until terminated by either party at any time, with or without cause, upon written notice to the other party.
Use of the Electronic Trading Service
4. XCOQ is providing the Electronic Trading Service to the Client for its own personal use and only for the purposes and subject to the terms of this Supplement and the Client Agreement.
5. You may not sell, lease, or provide, directly or indirectly, the Services or any portion of the Electronic Trading Services to any third party except as permitted by this Supplement and the Client Agreement. 5. The Client agrees to operate the Electronic Trading Service with all due skill, care and diligence. The Client confirms that it has implemented, and shall at all times comply with, all controls relating to access over order entry and security of the Electronic Trading Service required by XCOQ.
Every Introducing Broker (IB) shall ensure the information of its all clients is real and effective. XCOQ shall have the right to refuse any information of counterfeit identity. With respect to any legal risk or disputes incurred thereof, XCOQ shall assist competent legal authorities to investigate the Introducing Broker’s and its client’s legal liabilities and terminate the cooperation with it. In such case, the Introducing Broker’s trading commission fees and transactions shall not be settled and shall be deemed as invalid.
6. The Client may access the Electronic Trading Service via a password. The Client acknowledges that it is solely responsible for ensuring that the password details are kept secure and confidential.
7. In the event that XCOQ suspects, discovers or has been notified that any password has been disclosed to a third party XCOQ will suspend the account
8. You acknowledge the inherent risk that communications by electronic means:
8.1 May not reach their intended destination or may do so much later than
intended for reasons outside our control; May not be secure and may be
intercepted or accessed by unauthorised or unintended parties
8.2 You agree that we do not take any responsibility for communications transmitted over the internet.
9. The Client acknowledges that in the event the Electronic Trading Service is not available it has alternative arrangements, as set out in the Client Agreement, for the transmission and execution of Orders, instructions, and communications. The Client further acknowledges that XCOQ reserves the right to alter the Electronic Trading Service in any way at any time. Any such alterations will be in XCOQ’ absolute discretion.
Any Introducing Broker shall not execute transactions for clients who have not acknowledged XCOQ’s trading qualification, relevant legal financial business, certificates of relevant operation personnel, and any technical support provided by the licensee. In addition, any Introducing Broker shall not execute transactions for clients without their certificate of authorization or other relevant certificates. All transactions mentioned above shall be deemed as illegal transactions by XCOQ. XCOQ shall have the right to refuse to settle commission fees thereof and disputes incurred by these transactions. In addition, XCOQ shall have the right to refuse any appeals of such Introducing Broker and its client, whose account will be frozen. All such appeals shall be deemed as invalid.
Orders and Transactions
10.The Client acknowledges that XCOQ is not under any obligation to accept, or to execute or cancel, all or any part of an Order that the Client seeks to execute or cancel through the Electronic Trading Service. XCOQ shall not be responsible for any Orders that are inaccurate or not received by XCOQ, and may execute any orders on the terms actually received by XCOQ.
11.The Client acknowledges that, in the event XCOQ receives an Order from the Client outside of the relevant Exchange’s opening hours (or with insufficient time to execute it prior to close of business on the relevant exchange, XCOQ will deal with such an Order as soon as reasonably practicable when the relevant Exchange is next open for business and accordingly there is no guarantee that the Client will obtain the opening market price of the relevant instrument. The Client acknowledges and accepts that the volatility in price movements and the spread between buying and selling prices may be greater when the relevant exchange first opens that at other times of the day
12.The Client acknowledges that XCOQ may partially execute an Order if it is not able, for any reason whatsoever; to execute such Order in full unless the Client informs XCOQ at the time the Order is placed that it will only accept execution in full.
13.XCOQ shall provide the Client with an electronic confirmation, in accordance with
the Client Agreement, of the execution of each Order executed through the Electronic Trading Service.
EA Intelligent Full-automatic FX Trading System (hereinafter referred to as “EA”): XCOQ shall refuse all commercial documents or transactions that are brought by EA but refused by the market trading. Any liabilities for negative information incurred by such commercial behaviors shall be assumed by the Introducing Broker and its client.
With respect to validity and invalidity of EA transaction, XCOQ and its counterpart bank shall have the right to determine the validity. If the EA transaction is deemed as invalid, the profits or commission fees that the Introducing Broker gains through EA shall be refused by XCOQ. In addition, XCOQ shall terminate the cooperation agreement with the Introducing Broker, validity of its client’s account, and validity of transactions of the client’s account.
14.The Client acknowledges that where an Order is placed through a third party service provider, any acknowledgement of receipt of such Order received by the Client from such third party service provider is not binding on XCOQ and shall not indicate that such order has been accepted for execution by XCOQ. XCOQ shall not be responsible for any losses, damages, or costs that may result from errors made by any third party service provider in delivering such Order to XCOQ.
Introducing Brokers and its clients shall acknowledge that XCOQ has reiterated that trading of FX derivatives is of high risk. Any operation of transactions other than operations conducted by the client shall be strictly prohibited by XCOQ. Any results thereof shall be strictly reviewed and audited by XCOQ and be deemed as invalid by XCOQ. Such transactions thereof shall be also deemed as invalid. Relevant accounts shall be prohibited forever. In addition, XCOQ shall terminate the cooperation with the direct Introducing Broker and all its interests thereof.
15.The Client agrees that in the event that a Confirmation is expected but not
received by the Client in relation to any Order, the Client shall telephone XCOQ to
enquire about the lack of information as soon as reasonably practicable but in any event within 24 hours after the Order was placed before taking any further action, including without limitation reentering the Order.
16.The Client acknowledges that it shall be liable for any order which arises in circumstances where it is not possible (for any reason whatsoever) to withdraw or cancel the related Order.
17.On receipt of an instruction from the Client to cancel an Order, XCOQ shall use its reasonable endeavours to cancel such Order (although XCOQ will not be responsible and accordingly shall have no liability for ensuring that such an Order is cancelled) provided that such Order has not been executed in whole or part.
18.The Client acknowledges that it shall be liable for any Order which arises in
circumstances where it is not possible (for any reason) to withdraw or cancel the related Order, without prejudice to the generality of the foregoing, in the event that the Client instructs XCOQ to cancel an order which XCOQ has partially executed by the time such cancellation instruction is received, the Client shall be
bound in respect of the partially executed Order.
19.The Client acknowledges that all proprietary rights in the Electronic Trading Services are owned by XCOQ, or by any applicable third party services providers selected by XCOQ, providing XCOQ with all or part of the Electronic Trading Services, or providing the Client with access to the Electronic Trading Services, or their respective licensors, and are protected under copyright, patent, trademark and other intellectual property laws and other applicable law.
20.Any publicly registered Internet Protocol address(s) (IP Addresses) assigned to the Client by XCOQ in connection with the Electronic Trading Service shall be used solely in connection with the Electronic Trading Service. In the event that the Electronic Trading Service is discontinued for any reason or this Supplement is terminated, the Client shall have no further right to use the IP Addresses.
With respect to all new fraud approaches, including but not limited to: 1) high frequent change of the client’s IP; 2) the account is not located in registered region or different from the submitted address information; and 3) real basic information is not in accordance with the submitted information, XCOQ shall have the right to prohibit the client’s account and the Introducing Broker’s information until such information is audited by our relevant legal personnel.
XCOQ shall have the right to prohibit all behaviors that are expressly prohibited by relevant laws and regulations such as illegal information disclosure, password change or theft, and trading on behalf of clients, and illegal trading behaviors such as setting up VPN, increasing margin by data delay to execute over loss trading, and frequently placing orders at both sides. All losses thereof shall be assumed by the Introducing Broker and its client. In addition, the Introducing Broker and the client shall be liable for the loss brought to XCOQ by behaviors mentioned above.
Representations and Warranties
21.The Client warrants and represents that it will at all times comply with all applicable laws and regulations of the ASIC or any part thereof and with all applicable laws, rules and regulations including those of any relevant exchange, trading system, the Financial Services Authority and any other applicableregulator, Exchange, trading system or clearing house and all
requirements imposed pursuant to such laws, rules or regulations
(ApplicableRegulations) and with any requirements that may be imposed from time to time by XCOQ with respect to the Account for the purpose of ensuring or
monitoring compliance with the Client Limit (Applicable Requirements).
22.The Client warrants and represents that neither the Client nor any Authorised User shall reverse engineer, decompile, or disassemble any material owned by XCOQ (including, without limitation, any software used by XCOQ for the provision of the Electronic Trading Service), or to create derivative works of it.
23.XCOQ does not guarantee and makes no express or implied representation or warranty concerning the Electronic Trading Service (or any part thereof), including without limitation the accuracy, security or integrity of any information or data transmitted, transmission capabilities, trade execution, communication or any other features whatsoever of the Electronic Trading Service. This Clause shall not be affected by termination of this Supplement.
24.XCOQ may, at its discretion and without further notice to the Client, give the police or 4 any regulatory or investigatory authority any information XCOQ reasonably believes to be relevant about the loss, theft or misuse of the Access Method or the unauthorised use of the Electronic Trading Service. The Client authorises XCOQ to take all such steps as XCOQ may in its discretion consider necessary or appropriate for XCOQ to take to comply with Applicable Regulations and Applicable Requirements.
25.The Client hereby accepts responsibility for and liability to XCOQ with respect to:
1. all instructions, communications and Orders given or made using the Electronic Trading Service ;
2.taking all reasonable steps to ensure that no computer viruses, worms, software bombs or similar items are introduced into the System or Software the Client uses to access the Electronic Trading Service.
26.The Client agrees to indemnify and hold XCOQ (and its affiliates, employees, officers, directors or agents) harmless from and against any and all losses, liabilities, damages, demands, claims, expenses and costs (including legal fees, interest, penalties, Value Added Tax or similar taxes) suffered by XCOQ (or any of its affiliates, employees, officers, directors or agents) directly or indirectly resulting from or relating to:
1. any breach by the Client or an Authorised User of the Client’s or Authorised User’s duties or obligations under this Supplement;
2. the failure or alleged failure of the Client or Authorised User to comply with Applicable Rules;
3. any negligence, wilful default or fraud of the Client or Authorised User.
This indemnity shall survive termination of this Supplement.
Limitation of Liability
27.Subject to XCOQ’ statutory and regulatory duties and liabilities from time to time, in the absence of fraud, negligence or wilful default, XCOQ and its Associates,
employees,officers, directors or agents shall not under any circumstances be liable to the Client or Authorised User (or, if applicable, any third party, in the event that a claim is made by such party) in respect of any loss of whatever nature sustained or incurred by the Client or Authorised User (or any third party), arising out of or in connection with the use of the Electronic Trading Service by the Client or Authorised User.
Suspension, Termination and Consequences of Termination
28.XCOQ has the right to suspend or terminate (at any time, with or without cause or prior notice) all or any part of the Electronic Trading Service, or access to the Electronic Trading Service.
29.The Client acknowledges that in the event that the Client Agreement is terminated for any reason whatsoever, this Supplement shall be deemed to terminate at the same time. Termination shall be without prejudice to the accrued rights of the parties as at the date of such termination.
30.If the Client uses, or attempts to use, the Electronic Trading Service for any purpose other than its intended purpose (including without limitation by tampering, hacking, modifying or otherwise corrupting the security or functionality of the Electronic Trading Service), the Client may be subject to civil and criminal liability.
31.This Supplement shall be governed by, and construed in all respects in accordance with the laws of New Zealand shall be subject to the non-exclusive jurisdiction of the Courts of New Zealand.
This Electronic Trading Supplement forms part of our Agreement, upon which we intend to rely. For your own benefit and protection, you should read this Supplement carefully before accepting. If you do not understand any point, please ask for further information or seek independent legal or financial advice.
3.2High-frequency trading as invalid. If discover your high-frequency trading, XCOQ shall have the right to the account is frozen or pin processing, specific opinions of examination and approval shall be subject to the examination of the XCOQ technology act accordingly.
As high frequency trading is not recognized as legal by global traders, such trading is basically refused across the world. In addition, high frequency trading is deemed as criminals of commodity trading fraud and spoofing. Therefore, XCOQ shall refuse
any high frequency trading.
Definitions of High Frequency Trading:
a)Transaction orders are automatically sent by computer, with ultra-low latency responses at microsecond level to the market data (VBA withdraw).
b)The system consists of special software and hardware components and program trading settings.
c)The hardware of system is close to the location of the dealer’s host computer, namely co-location. Without any special permission, the transaction execution order is not transited by a broker.
d)Average time of holding position is very short, with placing or cancelling a lot of resting orders.
All transactions that have characteristics mentioned above shall be deemed as invalid by XCOQ. In addition, there is a special rule: if 30% of a position held by a client is closed within 5 minutes, such a transaction shall be deemed as high frequency trading by XCOQ on its sole discretion. Such transaction shall be waived and deemed as invalid by XCOQ.
Signature : …………………………………………….
24.XCOQ梅，其自由裁量权和没有进一步的通知客户，给警察或4监督管理局或任何investigatory XCOQ reasonably信赖任何信息（有两个相关的损失，盗窃或滥用的存取方法unauthorised或使用电子贸易服务。客户authorises XCOQ把所有这些步骤为XCOQ可以在其认为必要或适当的自由裁量权为两个带两个XCOQ适用和遵守适用的法规和要求。