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Home » General Terms and Condition » General Terms and Conditions
General Terms and Conditions

(Revised clause 14.4 - Date of notification 01 April 2015)

Part C : Trading in Securities
20. Instructions and Orders
20.1 CIMB shall be entitled to buy and sell Securities for or deal with monies in the Account or perform any other transaction or order relating to the Account upon the verbal or written instructions (including via e-mail), of the Client or any Authorised Person, but CIMB shall be under no obligation to give effect to any such instructions and is entitled to refuse to carry out such instructions without giving a reason for such refusal. In the case where CIMB does so give effect to any instruction or order, CIMB reserves the right to thereafter unilaterally withdraw instruction or order prior to it being executed without providing or assigning any reason therefor.
20.2 Unless the Client specifically requests and such request is accepted by CIMB, any orders relating to Securities given by the Client are good only for the Market Day of the Exchange in which such order is given and shall thereafter lapse at the end of such Market Day.
20.3 The Client shall be solely responsible and liable for the actions or instructions of any Authorised Person(s). CIMB shall not be concerned as to whether an Authorised Person has been given the proper authority by the Client to act on its behalf. For the avoidance of doubt, CIMB shall not be obliged to verify with the Client or any other person the instructions given by the Authorised Person(s) purportedly on behalf of the Client.
20.4 The Client acknowledges and accepts that when placing orders for Securities, there will be times when a quoted price will change prior to the trade’s execution due to market circumstances and that not all orders will be executed in chronological sequence with the order being placed. In such circumstances, the Client agrees to release CIMB from any liability arising therefrom.
20.5 While CIMB shall make reasonable efforts to ensure that the product information, pricing and rates on Website are accurate, correct and current, there may be instances where inaccurate, incorrect or incomplete information, pricing or rate is inadvertently displayed. In the event such information, pricing or rate is inaccurate, incorrect or incomplete, CIMB shall have the right at its sole and absolute discretion, to refuse avoid nullify and/or cancel any orders placed, transactions effected in your account and any consequential transaction effected due to or arising from the inaccurate, incorrect or incomplete information. CIMB expressly disclaims liability for any losses incurred due to such errors, inaccuracy, misstatements or omissions.
21. Counterparty Risks
21.1 In the event of any non-open market transactions, the Client should ensure that he is aware of the identity of the contractual counterparty the Client is or may be matched with. Often, the Client will be purchasing an unsecured obligation of such counterparty and he should evaluate the comparative credit risk of such a purchase. If CIMB is the counterparty, the Client must note that CIMB deals with the Client at arm’s length as his counterparty in relation to the said purchase. In such a case, unless CIMB agrees in writing or unless otherwise required by law, CIMB is not the Client’s fiduciary, nor is it willing to accept any fiduciary obligations to the Client. Any dealing, trading or engagement or transaction with CIMB by the Client could result in a loss to the Client and again to CIMB. CIMB does not and will not give the Client any advice whether written or oral other than any representations expressly set forth in any relevant agreement and any confirmation which may be signed or executed by the Client after negotiations with CIMB as the counterparty. The Client’s net returns from a transaction would also be affected by the transaction costs (which include, but which are not limited to, commission, fees and other charges) charged by CIMB. The Client should consider these costs in any risk assessment made by the Client. The Client should be aware that CIMB is engaged in customer-driven and proprietary activities in many markets. These general activities, as well as CIMB’s hedging activities which are related to certain transactions entered into with the Client, may adversely affect the value of such transactions.
22. Margin Financing through Other Financial Institutions
22.1 In the event that the Client concurrently maintains a  share margin account through a financial institution (other than CIMB) the Client authorises CIMB to transfer any Transactions effected in that account to the Account should the said financial institution so request. The Client agrees that the Client will remain liable for any contracts, Transactions and/or Transactional Services carried out or performed even if the same are not accepted by such financial institution (other than CIMB). Further, the Client shall always ensure that he has the requisite Securities in that other account maintained through a financial institution (other than CIMB) prior to giving any orders to CIMB to sell or dispose the same failing which he is liable to make good the shortfall or losses as a result of insufficient Securities.
22.2 In the event that the Client obtains financing from a bank or other institution (other than CIMB) on an ad hoc basis, the Client authorises CIMB to deliver Securities to such financing bank or institution as the Client’s trading representative may from time to time instruct CIMB. The Client indemnifies CIMB and undertakes to hold CIMB harmless from any and all losses, damages, liabilities, costs or expenses that may be suffered or incurred by CIMB as a result of acting in accordance with such instructions.
23. Delinquent/Disputed Account
23.1 CIMB may, in its sole and absolute discretion, report delinquent and disputed accounts to the relevant regulatory body or authority (including but not limited to Bursa Securities, BNM and Securities Commission) from time to time. The Client further consents to the reporting of the pertinent particulars relating to his Account, including, but not limited to, his name, address and NRIC/Passport number and claim amount and such other appropriate information, in the event that his Account is classified by CIMB at its sole discretion as delinquent or disputed.
24. Suspension of Account and other Restrictions
24.1 The Client acknowledges that CIMB may impose any restrictions on, including but not limited to suspension of, dealing in any Securities in respect of the Account which CIMB or any of its authorised representatives considers appropriate for any purpose.
25. General Right to Force Sell and Buy-In
25.1 The Client understands that if he does not pay for any Securities which he purchases by the due date of the purchase contracts, CIMB shall have the right to force sell any or all of these Securities at any time after such due date and at such time as it may in its absolute discretion decide. CIMB may (without prejudice to its rights under these terms and conditions) but need not exercise this right on any day after the day on which the right to force sell first arose.
25.2 CIMB shall not be liable to the Client for any losses suffered by the Client as a result of the exercise of its right to force sell the Client’s Securities for any fall in the market price of such Securities between the first day the right to force sell arose and the day it actually sells such Securities or as a result of any failure to force sell.
25.3 Any waiver of or delay in exercising the right to force sell any Securities by CIMB pursuant to Clause 25.1 shall not be regarded by the Client as an entitlement or right of the Client to the same at any time and shall be without prejudice to all other rights, powers and remedies available to CIMB.
25.4 The Client agrees that no short selling (this being the sale of Securities which is not beneficially owned by the Client on the date the sale order is made) shall be effected in relation to any Securities traded on an Exchange (except as permitted under, and effected in accordance with, the prevailing rules of the relevant Exchange). Without prejudice to the other rights and remedies available to CIMB, the Client agrees that in the case where there is a breach of this provision, CIMB may effect a buy-in of relevant Securities without any notice or reference to the Client.
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