Terms and Disclosures
Trading Services
Market Maker
General Agreements
Counterparty will be responsible for accurate submission of instructions to MCAP and to ensure that any instructions given by it or any of its employees, agents or Counterparty’s, shall have been properly authorized in advance. MCAP is authorized to comply with and rely upon instructions or communications believed by it to have been sent or given by an authorized person of Counterparty. MCAP's understanding of any instruction or communication shall be deemed controlling (whether given or received by MCAP), notwithstanding any discrepancy between such understanding and any subsequent confirming document or communication.
In the event that Counterparty disputes or denies knowledge of any Transaction, MCAP shall be authorized, but not required, to liquidate or otherwise offset the disputed position. Counterparty will promptly notify MCAP of any Transaction Counterparty or a Counterparty of Counterparty believes to be in error;
Counterparty authorizes MCAP, in its sole discretion and without notice, to monitor and record any or all telephone conversations and electronic communications between the Counterparty and MCAP for the purpose of training, performing its obligation under the Agreement, marketing, complying with Applicable Laws and Rules and/or Local Laws, or establishing a record of communications.
MCAP, in its sole discretion and without notice, may reject, in whole or in part, any instruction or Order from Counterparty, impose trading limits on Counterparty, and generally restrict trading with or for Counterparty;
Certain types of securities, like American Depositary Receipts or American Depositary Shares (collectively, “ADRs”) and Exchange Traded Funds (“ETFs”), are comprised of one or more underlying securities. Those underlying securities often are traded in various markets, and mechanisms exist to exchange them for the ADRs or ETFs and vice versa. Counterparty should remember that transaction instructions for ADRs and/or an ordinary shares are subject to these Terms and Conditions, as well as the ADR Terms and Conditions
Counterparty specifically agrees to receive and/or obtain any and all MCAP-related Electronic Communications (defined below) via email, hyperlinks, or postings on MCAP’s website. The term “Electronic Communications” includes, but is not limited to, any and all current and future notices and/or disclosures that various federal and/or state laws, rules, or regulations, or any self-regulatory organization rules, require that MCAP provide to Counterparty, as well as such other documents, statements, data, records and any other communications regarding your relationship with MCAP. Counterparty accepts Electronic Communications provided via email, hyperlinks, or postings on MCAP’s website as reasonable and proper notice, for the purpose of any and all such laws, rules, and regulations, and agrees that such electronic form fully satisfies any requirement that such communications be provided to Counterparty in writing.
Electronic Services
Limitation of Liability
any act or omission of Counterparty or a Counterparty of Counterparty or any error, negligence, or misconduct of Counterparty or a Counterparty of Counterparty, any exchange or clearinghouse, or any other third party not directly controlled by MCAP or such Third Party Provider;
failure of transmission or communication facilities;
any other cause or causes beyond MCAP’s control;
MCAP’s reliance on any instructions, notices, or communications that it believes to be from an individual authorized to act on behalf of Counterparty or a Counterparty of Counterparty, and Counterparty waives any and all defenses that any such individual was not authorized to act on behalf of Counterparty or a Counterparty of Counterparty;
government restrictions; exchange, regulatory, or market rulings; suspension of trading; military operations; terrorist activity; strikes, or any other condition beyond MCAP’s control, including without limitation extreme market volatility or trading volume; or
any action taken by MCAP, or any executing broker, clearing broker, exchange, clearinghouse, or other third party, to comply with Applicable Laws and Rules or Local Laws, or this Agreement.
Counterparty’s Payment Obligations
Termination
Miscellaneous
Amendment: Entire Agreement. MCAP may modify or amend the terms of this Agreement at any time upon notice. By continuing to accept Services from MCAP, Counterparty agrees to any such modifications and amendments. If Counterparty does not accept such modifications or amendments, Counterparty must cease transacting with MCAP and notify MCAP in writing. This Agreement, together with modifications and amendments pursuant to the above, represents the entire agreement and understanding between Counterparty and MCAP concerning the subject matter of this Agreement, and supersedes any prior agreements between the parties as to the subject matter of this Agreement.
Severability: If any provision of this Agreement is deemed by an authority of competent jurisdiction to be unenforceable or contrary to Applicable Laws and Rules or Local Laws, such provision shall be enforced to the maximum extent permitted by law to affect the parties’ intentions hereunder, and the remainder of this Agreement shall continue in full force and effect.
Headings: All headings in this Agreement are for description only, shall not be used to interpret this Agreement, and do not modify or qualify any rights or obligations.
Transfer and Assignment: Any transfer or assignment (or attempted transfer or assignment) of the Counterparty’s rights or obligations hereunder without obtaining the prior written consent of MCAP shall be null and void. MCAP shall have the right to transfer or assign this Agreement to any successor entity or to another party in its sole discretion and without obtaining the consent of Counterparty.
Privacy Policy: Please see privacy policy posted at www.mcapmarkets.com