1. These Terms and Conditions of Operations with Non-Deliverable Over-theCounter (OTC) Financial Instruments in LLC "Fort Securities BLR" (hereinafter – the "Terms and Conditions") set forth the procedure for LLC "Fort Securities BLR" (hereinafter – the "Company") to conduct operations with non-deliverable over-the-counter financial instruments.
2. The Company may amend these Terms and Conditions with the clients notified of such amendments not later than 10 calendar days before the amendments enter into force. Notification of the clients shall take place by posting respective information on the Company's official website or as otherwise determined by the Agreement on Operations with Non-Deliverable Over-the-Counter Financial Instruments.
3. In respect of these Terms and Conditions the below terms shall have the following meanings:
3.1. "Account" means special user account (unique code) made by the Company to the Client in the Platform and used for the Client's margin security depositing, for reflecting operation performed by the Client, open positions, give orders of the underlying asset price fixing, as well as for other Client's actions provided for by the Agreement.
3.2. "Ask" means offer price, the lowest quotation in respect of which the Client may give an order of the underlying asset price fixing.
3.3. "Underlying asset" means asset underlying the non-deliverable over-thecounter financial instrument and quotation difference of which is used to calculate the financial result of the operation performed. The underlying asset may be: foreign currency, precious metals, securities, oil, futures contracts, options, interest rates at the international capital market, and values of share indices (list of underlying assets is given in the Appendix 1 hereto).
3.4. "Bid" means demand price, the highest quotation in respect of which the Client may give an order of the underlying asset price fixing.
3.5. "Gap" means price gap. The price gap may occur as a result of a sharp price change in any direction both during the session when operations are performed due to important economic or political information and news and at the time of Forex over-the-counter market opening after weekends or holidays. Such change results in perceptible difference between the closing level of one period and opening level of the following one.
3.6. "Long position" means operation in which the client's positive financial result is provided as a result of an increase of the underlying asset price.
3.7. "Client" means a natural person over 18 years old or a legal entity which entered into the Agreement with the Company by way of public offer acceptance.
3.8. "Short position" means operation in which the client's positive financial result is provided as a result of the underlying asset price reduction.
3.9. "Quotation" means the underlying asset price as determined from time to time at which the Client may open or close position.
3.10. "Personal area" – the same as Electronic Service "Client Virtual Personal Area" (as defined in p 32.7 hereof).
3.11. "Server log file" means file in which the Company's server records accurate to the second all the Client's orders and requests as well as processing results of the same.
3.12. "Locked position" means long or short position of equal size opened by the Client for the same underlying asset.
3.13. "Lot" means scope of underlying asset in respect of which an operation may be performed. The minimum allowable lot size for an operation to be performed is 0.01; the maximum number of lots is 150.
3.14. "Margin security" means funds deposited by the Client to open and (or) support his open position.
3.15. "Leverage" means multiplier showing by how many times the size of the client's open position may exceed the margin security size.
3.16. "Operation" – the same as non-deliverable over-the-counter financial instrument operation (as defined in p. 3.17 hereof).
3.17. "Non-deliverable over-the-counter financial instrument operation" means over-the-counter operation consisting of two parts – position opening and closure, providing for no rights and setting forth no obligations of the parties in the purchase (sale) of the underlying asset, but creating an obligation to pay (a right to be paid) the difference between the underlying asset price at the moment of position opening and the underlying asset price at the moment of position closure.
3.18. "Deferred order for underlying asset price fixing" means the Client's order to the Company to fix the underlying asset price when the underlying asset reaches certain quotation.
3.19. "Platform" means certified computer system using which the Client may give orders to the Company on the underlying asset price fixing, analyze over-the-counter market and receive information on Operations in the online mode.
3.20. "Slippage" means formation of difference between the quotation expected by the Client at the time of giving the price fixing order and actual quotation by which the Client's order is executed.
3.21. "Point", "pips" means quotation minimum change, quotation last figure.
3.22. "Agreement on Operations with Non-Deliverable Over-the-counter Financial Instruments (Agreement)" means agreement entered into by the Client and the Company before starting the Operations to govern relations between the parties during performance of the Operations.
3.23. "Spread" means difference between Ask and Bid of the underlying asset.
3.24. "Margin Call level" means low level of margin security indicating the necessity to increase it by adding funds to the Client's account to avoid reaching Stop Out level and close the opened positions by the Company by independent fixing of the underlying asset price. Margin call level is at 50% of the margin.
3.25. "Stop Out level" means minimum value of margin security level upon reaching of which the Company closes the Client's open positions by independent fixing of the underlying asset price due to insufficient margin security to support the opened positions. Stop Out level is at 20% of the margin.
3.26. "Session" means part of the day when operations are allowed.
3.27. "Electronic Service "Client Virtual Personal Area"" means the Client's personal area at the Company's official website with protected access which contains information on performed operations; makes it possible to conduct operations with the account and represents one of the communication channels with the Company.
3.28. "Contract for Difference, CFD" means derivative financial instrument assuming that the Client and the Company will exchange the difference between the underlying asset values at position opening and closure.
4. List of underlying assets as well as non-deliverable over-the-counter financial instruments in respect of (the totality) which the Company performs operations is given in the Appendix 1 hereto and is posted on the Company's official website in the sections "Products", "Instrument Specifications", as well as in the Platform.
5. The Company shall obtain information on the quotations from the liquidity provider – Fortrade Limited (registered address: 43-45 Dorset Street, London, W1U 7NA, United Kingdom; registration number 08619610, license number 609970) – by means of continuous data exchange with the liquidity provider.
6. The quotations in the Platform are based on market indicators and are shown in real time and are identical for all the Company's clients. The specified quotations are the best Ask and Bid prices offered by the Company.
7. For the operations performed by the Company the following types of remuneration may be paid by the Client:
7.1. spread;
7.2. swap;
7.3. rollover commission;
7.4. commission for maintaining inactive accounts with positive balance.
8. Remuneration shall be paid to the Company from the Client's margin security.
9. Remuneration that is not nominated in the Client's account currency shall be converted into the account currency at the exchange rate determined by the Company and available for review in the Platform (View/Symbols menu).
10. Spread shall be collected by the Company at the time of position opening by the Client.
Spread = (Ask on underlying asset) – (Bid on underlying asset) Quotations on the underlying asset for the specified calculation shall be determined at the same point of time. Information on the spread type and size on each underlying asset shall be provided on the Company's website in the sections "Products", "Instrument Specifications", in the Platform, as well as stored on the Company's server, and is to be taken into account in determination of the financial result from the performed operation at the moment of position closure.
11. Swap shall be collected by the Company for transfer of the open position to the following operation day. For operations with the underlying asset represented by foreign currency, precious metals, securities, oil, values of share indices: Swap = (number of lots) x (number of days during which the position remained open) x (swap rate) x (point value). Swap size, calculation method and day of swap accrual at triple rate depend on the type of the underlying asset in respect of which position is open shall be published on the Company's website in the section "Products" and are specified in the Platform for each underlying asset. If swap is negative, it shall be collected from the Client. If it...
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