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NOTIFICATION ON AMENDMENT OF RULES OF BURSA MALAYSIA DERIVATIVES BHD
NOTIFICATION ON AMENDMENT OF RULES OF BURSA MALAYSIA DERIVATIVES BHD
Please be informed that the Rules of Bursa Malaysia Derivatives Berhad are amended and come into effect on 1 September 2016.
Following from the above, if you represent that you are trading on behalf of another person, you agree to furnish us information and documents in respect of the Said Account, including information and documents of the ultimate owner or the ultimate person on whose behalf the instructions to trade are carried out, if so requested by regulatory authority.
The extract of the Rules of Bursa Malaysia Derivatives Berhad, specifically Rule 603.1(2) and Rule 603.7, is set forth below for your attention.
Rule 603.1 Opening a Client Account
(2) If the Client represents that the Client is trading on behalf of another person, the Trading Participant may open a Client Account for the Client only if the Trading Participant brings to the notice of the Client, the Client’s obligation under Rule 603.7.
Rule 603.7 Disclosure of Information by Client
(1) If requested by the Exchange, a Trading Participant must require a Client to disclose or procure (and the Client must disclose or procure) information and documents in relation to the orders, trades and Open Positions in respect of the Client Account.
(2) The information referred to in Rule 603.7(1) above includes information whether any transaction and instruction to trade in Contracts in the Client Account is carried out on another person’s behalf and in such instance, the name of, and particulars sufficient to identify the ultimate owner of the Open Positions or the ultimate person on whose behalf the instruction to trade in Contracts is carried out in respect of the Client Account.
(3) In relation to a request made under paragraphs (1) and (2) above, the Exchange may direct a Trading Participant to refrain from trading for any Client until the information and document requested is furnished by the Client or where the Client refuses to furnish the same.
For avoidance of doubt, all other terms and conditions in the Account Application Form and the Client Agreement and any supplementary or other terms and conditions, save as expressly amended herein, remain unchanged and shall continue be valid and binding.
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