客戶協議書

1. 釋義
1.1

在本協議中

1.1.1

「帳戶」指富途證券依據開戶申請表及本協議條款代客戶開立及維持的一個或多個證券交易帳戶(包括但不限於股票期權交易帳戶);

1.1.2

「開戶申請表」指客戶為了開立及維持在本協議條款下的證券交易帳戶,按照富途證券所要求的格式向富途證券提交的申請書;

1.1.3

「通知書」指任何書寫或打字記錄(包括任何以傳真或其他電子途徑可製作成印刷本之文件)(a)確認及列明就任何帳戶,由執行的任何交易詳情;或(b)紀錄與帳戶有關的其他事宜(包括但不限於資產的收受或提取)並載有富途證券認為恰當之資料;

1.1.4

「本協議」指本客戶協議及附件、開戶申請表以及附件內所列明或由指富途證券不時指定的任何適用附件及/或其他文件;

1.1.5

「獲授權人」指每一位開戶申請表指定為獲授權人士,或日後獲委任為獲授權人而委任通知已按本協議條款給予富途證券,惟該通知只會于富途證券確實收妥當日起計五日後才會生效;

1.1.6

「獲授權第三者」指每一位開戶申請表指定為獲授權第三者(如有的話),或日後獲委任為獲授權第三者而委任通知已按本協議條款給予富途證券,惟該通知只會于富途證券確實收妥當日起計五日後才會生效;

1.1.7

「中央結算系統」指由香港中央結算有限公司建立及運作之中央結算及交收系統;

1.1.8

「客戶」指富途證券同意以其名義按本協議條款開立及維持帳戶的人士,及當客戶乃;(i)屬個人,則包括客戶(等)本身及其等各自之遺執行人及遺產管理人;(ii)屬獨資經營商號,則包括獨資經營人及其遺囑執行人、遺產管理人及其生意繼承人;(iii)屬合夥經營商號,則包括維持帳戶時該商號之合夥人,亦包括于今後任何時間加入該商號成為合夥人之任何人士(等)(不論是否其後退出)及所有前述合夥人各自之遺囑執行人、遺產管理人及該合夥經營生意之繼承人;以及 (iv)屬公司,則包括該公司及其繼承人;

1.1.9

「違約事項」指第16.1條中列明之每一事件;

1.1.10

「交易所」指香港聯合交易所有限公司以及在世界各地進行證券買賣的任何其他交易所、市場或交易商協會;

1.1.11

「融資」就帳戶而言,指富途證券不時提供財務通融以便客戶獲得及持有在一交易所上市之證券;

1.1.12

「集團」指富途證券及其屬公司及相聯公司,「集團成員」應作相應解釋;

1.1.13

「香港」指中華人民共和國香港特別行政區;

1.1.14

「富途證券」指富途證券國際(香港)有限公司

1.1.15

「法例」指適用於富途證券及富途證券所指示的其他經紀和交易商的一切法例、規例及和規管要求,包括(如適用)相關

1.1.16

交易所及其相聯結算公司的規則;

1.1.17

「監管機構」指證監會、有關交易所、結算公司以及任何在香港或其他地方之監管機構;

1.1.18

「監管規則」指由監管機構不時發布之規定或其他法例、規條、守則、指引、通知及規管性指示;

1.1.19

「證券」與《證券及期貨條例》內的「證券」具相同含義;

1.1.20

「證券及期貨條例」指證券及期貨條例(香港法例第571章);

1.1.21

「證監會」指香港證券及期貨事務監察委員會;以及

1.1.22

「附屬公司」與《公司條例》(香港法例第32章) (及其不時修訂本)下所指明的具相同定義。

1.1A

就本協議而言,如兩間公司的其中一間是另一間的附屬公司,或該兩間公司俱是第三間公司的附屬公司,則該兩間公司將視為相聯公司,而「相聯公司」 一詞亦據此解釋。

1.2

在本協議中

1.2.1

凡指單數之詞語,其釋義將包含眾數,反之亦然;

1.2.2

含有性別意義之詞匯其釋義將一概包含所有性別,凡指人士之詞語,其釋義包括法團和企業;

1.2.3

凡富途證券或任何集團成員被授以酌情權,該酌情權應是絕對的及若行使該酌情權,在適用法律許可的最廣範圍內,富途證券或該集團成員均不會對客戶或任何其他人士承擔任何責任(不論屬任何性質),富途證券或該集團成員不必就其行為、不行為或決定而作出解釋,但另有規定者除外;

1.2.4

本協議內之標題僅為方便,于釋義本協議時無須理會;

1.2.5

凡指法例,法例條文或監管規則,則釋義包括不時生效的修訂本、更替本、修改本、擴充本或重新製定本;

1.2.6

凡未有詮釋之文字,應按證券及期貨條例或其下之規則之定義作解釋,除非文意另有所指。

1.2.7

如果本協議條文與任何法例有任何抵觸,應以後者為準;富途證券有權依據其絕對酌情權采取或拒絕采取任何行動,或者要求客戶采取或不得采取任何行動,以確保合乎法例要求。富途證券根據法例所采取之一切行動均對客戶具有約束力。

2. 開立帳戶
2.1

客戶謹此指示及授權富途證券以客戶姓名開立並維持一個或多個證券交易帳戶 (包括但不限於股票期權交易帳戶),並根據本協議列明之條款,在香港或其他地方購入、投資、沽出、交換證券或進行其他證券交易。

3. 富途證券給予客戶之資料
3.1

富途證券可按客戶要求,同意代表客戶進行證券交易,並可向客戶提供有關證券之意見、資料及/或建議。客戶應作出獨立判斷及決定有關證券交易之事宜,而不應依賴富途證券或任何其他集團成員。

3.2

富途證券應按客戶要求,向其提供包含客戶考慮交易的證券而該等證券乃是衍生產品之產品細則、招股章程或其他要約文件。

4. 客戶指示及常設授權
4.1

客戶發出之指令是不可撤銷的,指令可以采用書面、口頭、傳真或其他電子途徑(包括透過附件六定義之電子服務),但于任何情況風險皆由客戶自行承擔;

4.2

除非客戶給予相反的特定指令,客戶同意及確認所有命令及指令只于收到命令或指令之有關交易所正式交易日當日有效(在此條款4稱為「交易日」)。任何在交易日完結後收到之指令,均被視為該交易日隨後之交易日當日有效;

4.3

在發出任何指令時,應當提供客戶姓名(或如果客戶有多人,則其中任何一人之姓名除非開戶申請表另有所指)、發出指令的客戶之獲授權人或獲授權第三者的姓名(或多位獲授權人或獲授權第三者的姓名若開戶申請表指明需要多過一位獲授權人或獲授權第三者)當該指令乃客戶之一位或多位獲授權人或獲授權第三者所發出,以及在富途證券所開立相關帳戶之帳戶號碼;但在任何情況下,富途證券都可以但並無責任核實或確保發出指令之人士或任何人士之身份,富途證券亦有權(但並無責任)據該指令行事並依據其相信該指令乃由客戶、客戶之一位或多位獲授權人或獲授權第三者發出。

4.4

客戶授予富途證券下述之常設授權。一旦授權,客戶同意受其條款所約束:

4.4.1

根據不時修訂之《證券及期貨(客戶款項)規則》(香港法例571I章)之常設授權;

4.4.2

根據不時修訂之《證券及期貨(客戶證券)規則》(香港法例571H章)之常設授權;及

4.4.3

其他合法地協議並不時修訂之常設授權。

4.5

受製于適用法律下,

4.5.1

于客戶撤銷其一位或多位獲授權人或獲授權第三者的權力後;或

4.5.2

在關於客戶的清盤或破產(視情況而定)開始後或發生類似事件後,由或聲稱由客戶、其一位或多位獲授權人或獲授權第三者所發出的任何指令將就富途證券利益而言繼續生效及有效直至富途證券確實收到由客戶(若是上述撤銷事件)或若是上述清盤或破產事件,由清盤人、破產管理人或類似人員所發出之通知書(通知富途證券發生有關事件)後計五日為止。

4.6

客戶之一位或多位獲授權人或獲授權第三者(視情況而定)所發出之任何指示應當視為客戶所發出。客戶藉此同意完全接受相關責任,其後不得質疑客戶之一位或多位獲授權人或獲授權第三者(視情況而定)所發出之指示。

5. 富途證券之酌情權
5.1

富途證券有權按其認為合適依照及執行任何由或代或聲稱由或代客戶發出之任何指令而富途證券真誠地相信該指示乃由客戶或其一位或多位獲授權人或獲授權第三者所發出。盡管前文所述,富途證券亦有酌情權拒絕該指令。倘帳戶內無足夠款項,或富途證券相信,執行有關指令或交易可能導致富途證券,任何集團成員,或客戶,觸犯任何法例或監管規則或由於其他原因,富途證券將無責任代表客戶行事或執行指令或為客戶或代表客戶進行任何交易。倘富途證券按其絕對酌情決定權拒絕代表客戶行事或執行指令或為客戶或代表客戶進行任何交易,富途證券可酌情通知客戶,惟富途證券在任何情況下,均不會負責任何損失、損害賠償、責任、費用、支出,或任何客戶因富途證券運用以上酌情權而招致或產生之損失。

6. 執行指令
6.1

在執行客戶的指令時,富途證券可以合約形式或其他方式與或透過任何經紀于任何交易所買或賣證券或以任何形式與或透過任何與富途證券有關聯之人士以執行客戶的指令,條款由富途證券按其酌情權而決定。

7. 通知書
7.1

在與或為帳戶促成一交易後,或在帳戶發生某些情況或某些調動時,富途證券可及若法例要求應按有關通知的法例將有關通知書(可以是以電子格式)送往富途證券紀錄中客戶之一個或多個地址(電郵地址或其他) 及/或其他一個或多個聯絡號碼:

7.1.1

客戶同意此乃其責任確保其在期限內收取通知書,如無恰當地收取,應立即諮詢富途證券並取回通知書;

7.1.2

任何通知書與客戶指令之間存在任何聲稱的差異,客戶須在該通知書發出日或重新發出日起七日內,以口頭或書面按本協議之通知條文通知富途證券;

7.1.3

上述七日後,該通知書的內容將被視為其所列明之詳情之終論性證據而無須以任何其他證據以證明該通知書及/或有關交易或其他相關事宜乃是正確的(但富途證券可隨時及不時行使權利,修正帳戶上任何紀錄及/或該通知書內任何詳情若那些紀錄及/或詳情乃其不當或錯誤地作出的),除非出現以下情況:

7.1.3.1

所聲稱之錯誤已由客戶根據本協議之通知條款,通知富途證券;

7.1.3.2

就任何偽造或未經授權之背書支付款項;

7.1.3.3

因富途證券未能采取合理謹慎及技術,而令任何第三者(包括客戶的員工、代理或受雇人)可以偽造或欺詐手段造成之未獲授權交易;

7.1.3.4

任何富途證券員工、代理或受雇人以偽造或欺詐手段造成之未獲授權交易;及/或

7.1.3.5

任何因富途證券或任何富途證券員工、代理或受雇人之違責及重大疏忽而導致之未獲授權交易。

8. 結算
8.1

客戶須向富途證券支付買入證券所需並可自由提取使用的款項,或向富途證券交付沽出證券所需之所有權證明或文件,或促使沽出證券所需的在中央結算系統中的證券之轉讓(視情況而定),上述每一種情況均應在富途證券于任何時間要求時作出(即使要求在交收日之前支付及/或交付亦然),且客戶應采取所有必需的行動,以便根據法例就該買入和沽出作出適當的結算及/或交付。倘客戶未能遵照上述規定,則富途證券有權:

8.1.1

倘若是一宗買入交易,轉讓或沽出任何該等買入之證券,以償還客戶對富途證券之責任;或

8.1.2

倘若是一宗沽出交易,借入及/或購入該等沽出證券,以償還客戶對富途證券之責任。

8.2

倘若富途證券因賣方經紀未能在交收日交付證券,導致富途證券必須在公開市場代表客戶取得該證券,客戶應負責支付任何差價以及在公開市場上購買該證券所需之一切附帶開支。

9. 沽空
9.1

除富途證券或任何集團成員之抵押權益外,客戶提供之所有用作沽出及存入帳戶(或多個帳戶)之證券,須已全數繳足款項並具有效力及妥善之所有權,而該證券之法定及實益所有權皆為客戶所有。客戶必須確認及承諾在沽出指令發出之前,按富途證券之要求給予富途證券有關證券持有權之資料及/或保證。客戶必須通知富途證券當其沽出指令涉及客戶沒有擁有的證券即涉及沽空情況(包括客戶為沽售而借來之證券)。客戶確認及同意富途證券不會接受任何沽空指示,除非客戶向富途證券提供富途證券認為必要的確認、檔證據及保證證實客戶在沽空指令發出前,持有即時可行使而不附有條件的權利將有關證券授與買入者。

10. 孖展買賣
10.1

按照附件一列明之條款,富途證券可給予客戶融資以進行涉及帳戶之孖展證券交易。

11. 認購新股
11.1

富途證券新股認購截止日及扣款日

11.1.1

因需處理認購手續,富途的普通認購截止日期會早于交易所公布的截止日期,截止時間為當日的16:00,融資認購截止日比普通認購截止日再提早一天。請以富途官方公布的認購時間為準。

11.1.2

普通認購的金額,在認購截止日當天16:00扣除客戶認購資金,融資認購在申請提交後,會即時凍結使用的自有資金部分。

11.1.3

普通認購,請在認購截止日存入足夠的資金,否則,富途有權利在未與客戶取得聯系的情況下按照如下規則處理客戶認購請求

11.1.3.1

當日僅認購一只新股且認購資金不足,減少認購股數直至資金滿足認購條件以確保認購資格;

11.1.3.2

當日認購兩只及以上新股且認購資金不足,授權富途決定認購的新股及股數以確保認購資格。

11.1.4

普通認購任務在認購截止日16:00前,支持修改和撤回認購任務。

11.1.5

融資認購申請不支持修改及撤回。

11.2

認購手續費及融資利息

11.2.1

普通認購手續費為50.00HKD,融資認購手續費為100.00HKD,無論是否中簽,均需繳納。iBond除外,不收取手續費。

11.2.2

融資認購利息計算時間為CCASS資金扣除日到中簽日的前一自然日,公布中簽日如果中簽,並使用了融資,則從公布中簽日開始計算融資利息,兩種率可能存在不同。

11.2.3

如遇到新股延期、擱置上市等情況,認購手續費及融資利息不予退回。

11.3

中簽結果公布及退款

11.3.1

中簽結果公布以當日日結單為準,若中簽且新股上市安排正常,則公布中簽結果日當天,會看到股票持倉。

11.3.2

普通認購,若部分中簽,則未獲中簽部分的本金將于公布中簽結果當天退回至認購帳戶中,若有特殊情況,則以交易所公布的退款日期為準。

11.4

融資認購風險提示

11.4.1

融資認購杠杆率高,在上市日當天會增加帳戶風險,中簽用戶需要保障帳戶內有足夠的自有資金,否則上市日當天,若帳戶發生margin,富途有權在一定情況下賣掉客戶的部分股票。

11.4.2

因帳戶發生margin,富途賣出股票以保障帳戶安全而造成的投資損失,責任由客戶自己承擔。

12. 首次公開發售
12.1

客戶可以向富途證券提出,要求代表客戶認購于交易所上市之新發行證券,並同意遵守附件二之條款。

13. 外幣交易
13.1

倘若客戶指示富途證券在交易所或其他市場訂立交易,而該交易以外幣進行,則:

13.1.1

所有因匯率波動而引起的損失及利益及風險皆全數由客戶承擔;

13.1.2

富途證券擁有絕對酌情權,可以不時要求客戶以富途證券要求之貨幣及款額存入作為保證金的所有首次及其後之款項;

13.1.3

當有關合約被平倉結算,富途證券應以帳戶指定之貨幣為單位,以當時貨幣市場就有關貨幣之兌換率作基準終論性地決定相關兌換率,並于客戶之帳戶內記入欠賬或進帳。
若富途證券行使任何本協議權利,包括但不限於合併或綜合帳戶或轉移客戶款項,而當該合併、綜合、轉移或行使任何其他權利牽涉兌換貨幣時,該兌換應以該合併、綜合、轉移或行使該權利當日由富途證券決定相關之外匯市場當時之現貨兌換率計算(該兌換率由富途證券作最終決定)。
當客戶發出指示買賣以人民幣計值的證券時,客戶確認及同意:

13.2

若富途證券行使任何本協議權利,包括但不限於合併或綜合帳戶或轉移客戶款項,而當該合併、綜合、轉移或行使任何其他權利牽涉兌換貨幣時,該兌換應以該合併、綜合、轉移或行使該權利當日由富途證券決定相關之外匯市場當時之現貨兌換率計算(該兌換率由富途證券作最終決定)。

13.3

當客戶發出指示買賣以人民幣計值的證券時,客戶確認及同意:

13.3.1

人民幣受外匯管製及不可自由兌換,因此涉及以人民幣計值的證券之交易可能涉及重大外匯風險;

13.3.2

除富途證券另有表明外,以人民幣計值的證券之交易將以人民幣結算;

13.3.3

如富途證券為客戶進行交易結算而需于市場買賣人民幣,除富途證券另有表明外,匯率將以現行市場匯率或于香港之持牌銀行所報價為根據。

14. 帳戶證券
14.1

客戶特此授權予富途證券就客戶存于富途證券之任何證券,或由富途證券代表客戶買入或收購之任何證券,還有富途證券代為安全保管而持有之任何證券,(不論該證券乃于香港或其他地方),皆可以富途證券、任何集團成員或富途證券指定或同意的任何代名人(不論該代名人是在香港還是在其他地方的人士)或客戶名義登記該等證券,或將該等證券存入一個由富途證券或任何集團成員開立及維持的獨立帳戶內而該獨立帳戶乃指定為信托帳戶或客戶帳戶並設于香港一認可財務機構、核準保管人或其他獲發牌提供證券交易之中介人,(于此第13條稱為「獨立證券帳戶」)或將該等證券存于任何海外保管人或海外結算公司但須遵守適用的監管規則。

14.2

客戶特此授權予富途證券就任何由或代客戶存放或提供之證券抵押品(不論于香港或其他地方):

14.2.1

將該等證券抵押品存入獨立證券帳戶;

14.2.2

存入于一認可財務機構、核準保管人或其他獲發牌提供證券交易中介人並以富途證券或任何集團成員之名義(視情況而定)開立之帳戶內;

14.2.3

以代其收受證券抵押品的客戶、富途證券或任何集團成員或富途證券指定或同意的任何代名人(不論該代名人是在香港還是在其他地方的人士)之名義登記;或

14.2.4

存于任何海外保管人或海外結算公司但須遵守適用的監管規則。

14.3

富途證券或任何集團成員、銀行、機構、保管人、代名人、中介人或任何其他人士依據本第13條持有之任何證券及證券抵押品(不論在香港或在其他地方),均由客人自行承擔風險。富途證券、任何集團成員及相關之有聯系實體、銀行、機構、保管人、代名人、中介人及人士並無責任為客戶之風險投保,該投保責任乃由客戶完全負責。

14.4

凡按本第13條存于富途證券或任何集團成員或任何其他人士但並非以客戶之名義登記的任何證券,一旦該等證券分派股息或其他分配或利益分發,帳戶(或多個帳戶)將被記入進帳(若客戶同意可另行收受),該股息、分配或利益之分派比例將等如該等證券之總數或總額中代客戶持有之證券部份。

14.5

凡按本第13條存于富途證券或任何集團成員或任何其他人士但並非以客戶之名義登記的任何證券,一旦富途證券或任何集團成員遭受損失,帳戶(或多個帳戶)將會被記入虧損(若客戶同意可另行支付),該損失支付比例將等如該等證券之總數或總額中代客戶持有之證券部份。

14.6

除非本協議另有所指或法例容許,否則富途證券不應在沒有客戶口頭或書面指示或常設授權下,存入、轉移、借貸、質押、再質押或以任何方式處理任何客戶證券或證券抵押品不論任何目的亦然。

14.7

為抵銷任何客戶或代客戶欠下富途證券之負債,富途證券獲授權(依據適用法例或一合法協議之常設授權)處置客戶任何證券或證券抵押品(富途證券有絕對酌情權決定處置哪些證券或證券抵押品)。

14.8

就任何客戶之證券或證券抵押品,富途證券(或本協議允許的任何其他人士)交付、持有、以客戶或客戶代名人的名義登記的責任將以交付、持有、以客戶或客戶代名人的名義登記,面值及面額及權益相等于原先存放于富途證券或轉移至富途證券或本協議允許或客戶同意的任何其他人士或富途證券代客戶認購之證券(「原先之證券」)(但受製于任何其時已發生的資本重組)作為履行該責任,而就數目、等級、面值、面額及附帶權益而言,富途證券(或本協議允許的任何其他人士)並無責任交付或交回相同于原先之證券。

14.9

凡任何以富途證券或任何集團成員,或富途證券指定或同意之任何代名人(按照本第13條)名義持有之證券,除非客戶另有書面指令,富途證券或該集團成員一概不會出席任何會議,行使任何投票或其他權利,包括填妥委托書。本協議內無訂明富途證券或任何集團成員有責任通知客戶出席會議及于會議中投票。就富途證券或任何集團成員接收之證券,富途證券或任何集團成員毋須負責有關該等證券之任何通知、訊息、委托書及其他檔,亦不會傳達該等文件或發出任何有關已收取該等檔之通知予客戶。富途證券及/或任何集團成員有權因提供或安排保管客戶證券或按客戶指示行動之服務,而向客戶收取費用。

14.10

為免存疑,富途證券、任何集團成員或或富途證券指定或同意的任何代名人(不論該代名人是在香港還是在其他地方的人士)在遵從適用的監管規則的情況下,可替客戶在香港以外地方保有證券。

14.11

在不損害及附加于富途證券及其他集團成員的其他權利及補償權下,富途證券可隨時及不時處置(或促使任何相關集團成員處置) 任何客戶的證券(不論在香港或其他地方)或證券抵押品(不論在香港或其他地方),以解除由或代客戶對富途證券、該相關集團成員或第三者所負的責任。富途證券及該相關集團成員(若適用)獲授權就任何該處置作出一切必要事項而毋須就相應或連帶的虧損或費用承擔責任。在不損害上文之情況下,客戶不得就該處置之方式或時間向富途證券及/或該相關集團成員(若適用)提出任何索償。

14.12

富途證券有權根據市場情況及/或監管機構的要求而調整對客戶孖展保證金的要求。

15. 帳戶款項
15.1

富途證券有權把在帳戶(或多個帳戶)內持有或代客戶接收之任何款項存放或轉移至由富途證券或任何其他集團成員所設于香港或其他地方之一或多個獨立帳戶內或于該等帳戶間互相轉移,而該/該等每一個獨立帳戶須指定為信托帳戶或客戶帳戶,並在一所或多所認可財務機構及/或證監會以《證券及期貨(客戶款項)規則》(香港法例第571I章) 第4條為目的而批準的其他一個或多個人士及/或任何其他一個或多個海外人士(但必須遵從適用的監管規則)處開立。在客戶與富途證券均同意及法例容許之情況下,所有上述款項之利息將歸富途證券所有。

16. 佣金、收費及費用、留置權、抵銷與合併
16.1

就每項交易而言,客戶須在被要求時立即向富途證券繳付富途證券不時通知客戶于本協議項下所示,帳戶之適用利息、徵費、費用、溢價、經紀費、佣金、收費、支出及開支。客戶同意富途證券在法例許可的程度下,于富途證券網站不時張貼的該等通知,在所有用意和目的上,將為足夠通知。受製于適用法例下,富途證券可以通知更改任何佣金、收費及/或費用,而受製于適用法例下,新的佣金、收費及/或費用於該通知指定的生效日期起適用,不論指定生效日期乃該通知日期之前或之後。

16.2

客戶在被要求時要立即向富途證券繳付或付還相當于富途證券因或關於其作為客戶代理人交易證券或富途證券在履行其在本協議下的職責而令富途證券招致的所有佣金、經紀費、徵費、收費、稅項及稅款及所有其他費用和開支。

16.3

在不影響本15條款的其他條文之情況下,富途證券可以從帳戶中扣除上述第16.1及16.2條所預期之任何金額。

16.4

對于因為客戶未能履行交收責任而引起之所有損失及開支,客戶須向富途證券承擔責任,並須繳付富途證券所定之額外費用及利息。

16.5

在遵守適用法例之前提下,以及在不限製並附加于富途證券及其他集團成員的任何其他權利及補償權之情況下,客戶同意:

16.5.1

富途證券及集團對富途證券或一個或多個集團成員持有的全部或任何部份款項或證券擁有一般留置權,以履行客戶對富途證券,任何集團成員或第三者之責任;

16.5.2

富途證券可隨時及不時將客戶所有或任何帳戶與客戶欠負富途證券及/或其他集團成員的任何債項進行合併或綜合,及/或將客戶的證券及/或其他財產用於清償拖欠富途證券及/或其他集團成員的任何負債,而毋須發出事先通知;

16.5.3

富途證券可隨時及不時並無須事先通知抵銷或轉移客戶存放于其在富途證券或其他集團成員處的任何帳戶內不論何種貨幣的任何款項,以清償客戶對富途證券及/或其他集團成員的不論任何性質之任何負債(包括以當事人或擔保人身份招致之債務及不論此等債務為實際或或有、主要或附屬、各別或聯合)。

16.6

在任何與或透過經紀作出的交易過程中,富途證券可收取該等交易之附帶利益,包括經紀費、佣金、回扣以及/或任何種類之佣金。客戶同意富途證券可以自行收取及保留任何該等利益,只要合乎法例許可,並毋須再通知客戶。

16.7

在不損害並附加于富途證券及其他集團成員的其他權利及補償權之情況下,富途證券有權但無責任(並于此獲客戶授權)可以酌情決定處置客戶的證券及/或其他財產(而不必通知客戶),以便清還客戶因下述原因而拖欠富途證券之債務:

16.7.1

進行證券買賣引起之債務,而該債務在富途證券已經處置了指定作為保證清償該債務之抵押品的所有其他資產後仍然存在;或

16.7.2

富途證券向客戶提供財務通融引起之債務,而該債務在富途證券處置了指定作為保證清償該債務之抵押品的所有其他資產後仍然存在。

16.8

受製于適用法例下,以及在不損害及附加于富途證券及/或其他一個或多個集團成員享有之任何一般留置權及其他權利及補償權之情況下,當客戶在任何時候,在任何方面對富途證券或任何集團成員欠有債務,富途證券或任何集團有權但無責任(及客戶現不可撤回及無條件地授權富途證券或任何集團成員) 可以酌情決定並無須事先通知客戶下隨時及不時:

16.8.1

合併或綜合客戶在富途證券或任何集團成員所開立的一切或任何現有之帳戶,不論是否需要通知及不管帳戶之性質(即不論是存款、借貸或其他性質);及

16.8.2

抵銷或轉移設于任何地方的任何一個或多個該等帳戶內之存款,以清償客戶于其他帳戶或其他方面對富途證券及/或任何集團成員之欠債。

16.9

富途證券及任何集團成員被授權可以在沒有通知之情況下執行以上行動,不論帳戶有任何償付亦不受其他事件影響。上述之債務包括現有或將來的、實際的或是或有的、基本或附帶的以及各別的或聯合的。除此之外,富途證券有權沽售該等證券、投資及財產,並以所得款項抵銷及清償客戶所有對富途證券及/或任何集團成員不論是作為當事人或擔保人的債務,並毋須向客戶提出事前通知,亦不論:

16.9.1

該等證券、投資或財產是否有任何其他人士之權益,或富途證券是否已貸出款項;及

16.9.2

客戶在富途證券或任何集團成員開立帳戶之數目。

富途證券獲授權就該沽售作出一切必要事項而毋須就相應虧損承擔責任。在不損害上文之情況下,客戶不得就該沽售之方式或時間向富途證券提出任何索償。

16.10

客戶同意繳付所有拖欠富途證券及/或相關一個或多個集團成員之逾期未付款項所引起之利息(任何判決之前及之後均應付),利率(一個或多個)由富途證券及/或相關一個或多個集團成員按其/其等絕對酌情權並參考現行市場利率(一個或多個)所決定而計算並逐日累算由欠繳日(一個或多個)起計直至實際付款日(一個或多個)止,該利息須在每一個公歷月之最後一日,或其他由富途證券及/或相關一個或多個集團成員決定之日子,或在富途證券及/或相關一個或多個集團成員之要求下立即繳付。富途證券及/或相關一個或多個集團成員可按其/其等絕對酌情權隨時及不時改變上述利率及無須通知客戶或任何其他第三方亦無須獲得其等之同意下改變上述一個或多個利率。倘若在本條款下計算之任何息率高於放債人條例(香港法例第163章)之法定最高息率,則以該條例下之法定最高息率計算。富途證券可(及現獲授權)不時並無須事先通知從富途證券處開立之任何帳戶及/或客戶在其他一個或多個集團成員處的任何一個或多個帳戶內扣除客戶按本15.10條款應付之任何利息及客戶承諾應富途證券之要求立即作出及/或簽署富途證券可能隨時及不時要求之行動及/或檔,以使每一項該等扣除全面生效。

17. 違約事項
17.1

富途證券有權在以下任何一項違約事項發生之際或其後之任何時候,行使在第17.2條下之權力:

17.1.1

欠繳:客戶未償付,或未能在被要求後馬上進一步擔保或清償于本協議下,或于客戶與任何集團成員間之任何協議下,所欠付之金錢或債務;

17.1.2

違反陳述、聲明:任何客戶在本協議或送達富途證券或任何集團成員並有關本協議之任何通知或其他文件內,作出、重申或被視作為重申之任何陳述、聲明、保證或承諾,在作出、重申或被視作重申時,該陳述、聲明、保證或承諾是不正確或具誤導性,或被證實在作出、重申或被視作重申時,該陳述、聲明、保證或承諾已是不正確或已具誤導性;

17.1.3

違反其他責任:客戶未能履行或遵從本協議或客戶與任何集團成員間之協議下其任何其他責任及若該違反行為乃可補救的,但客戶未能在收到富途證券或任何集團成員要求補救之通知後立即作出補救並達至令富途證券滿意;

17.1.4

清盤等:倘若客戶乃一法團:

17.1.4.1

針對客戶提出清盤呈請、發出清盤令、通過任何有效力的清盤決議或者采取類似程序,惟合乎富途證券事前書面同意條件之兼並、合併或重組除外;或

17.1.4.2

客戶召集會議,該會議目的是為客戶的債權人利益而作出任何債務重整協議或償還安排,或客戶提出及/或訂立任何為客戶的債權人利益的債務重整協議或償還安排;或

17.1.4.3

就客戶全部或任何部份之財產或業務,一產權負擔人取得管有權,或一財產接管人或其他類似人員被委任,或客戶的任何動產或財產被查封、執行判決或強制執行,而在被扣押的三十日內,上述之查封、執行判決或強制執行未獲撤銷;或

17.1.4.4

未經富途證券書面同意,客戶停止向債權人支付款項或者(如適用)客戶(以以上第17.1.4.1條所述之兼並、合併或重組為目的者除外)停止或威脅要停止其業務或其任何實質部份,或根據《公司條例》第178條(香港法例第32章)被視為無法償還債務,或者處置或威脅要處置其業務或資產之全部或實質部份;

17.1.5

破產等:就客戶乃自然人而言,針對其破產程序啟動,或對客戶發出破產令,或客戶與其債權人達成任何債務重組協議或安排,或者客戶經已死亡、精神不健全及/或精神錯亂;

17.1.6

客戶財政狀況出現重大不利的改變等:客戶的業務、資產或財政狀況出現重大不利的改變,而富途證券認為有關改變將重大地阻止或妨礙或有可能阻止或妨礙客戶履行其責任;

17.1.7

判決或法庭命令:當客戶乃合夥經營商號或獨資商號,就任何其合夥人或獨資經營者的貨物、動產或財產,法庭作出判決或頒令,或對該等貨物、動產或財產進行強制執行,或者任何合夥人或獨資經營者經已死亡、精神不健全及/或精神錯亂;

17.1.8

不勝任等:當客戶乃個人、獨資經營者或合夥商號,而客戶或任何合夥人在法律上已被宣布為不勝任或精神無行為能力,或者客戶或任何合夥人經已死亡;

17.1.9

不合法:當富途證券僅按其看法相信有根據懷疑客戶已或可能參與市場不當行為或任何法例、監管規則或任何適用條款及條件所禁止的任何其他活動;或客戶維持帳戶或履行本協議責任成為非法行為;或客戶維持帳戶或履行本協議責任所需之任何授權、同意、批準或許可被撤回、限製、撤銷或者不再具有十足效力及作用;

17.1.10

欺詐等:客戶被裁定犯有欺詐、欺騙或不誠實等罪行或任何其他嚴重刑事罪行(違反交通規則而毋須判處監禁的情況除外)

17.1.11

規管要求:由富途證券酌情權判斷,富途證券執行第17.2條所賦予之權力對于遵守任何監管規則實屬必須;

17.1.12

凍結帳戶:帳戶或者帳戶內任何證券或金融工具之交易無論因任何原因而被暫時中止;

17.1.13

流通性不足:富途證券以其絕對酌情權認為,市場情況(例如流通性不足)或者行動令其難以或無法執行相關交易,或平倉或抵銷相關倉盤;及

17.1.14

其他情況:當富途證券以其獨有酌情權認為其他必須或合適之情況,例如由於保證金要求或其他要求。

17.2

當發生違約事項之際或其後任何時候,客戶所有未繳付富途證券之總額,必須在要求下立即償付;並富途證券可在沒有給予客戶任何通知之情況下,酌情采取以下任何行動

17.2.1

終止本協議及結束帳戶或暫停運作帳戶;

17.2.2

可要求客戶立即清償或償還任何融資;

17.2.3

撤銷任何或所有未執行之指令或任何代表客戶作出之其他承諾;

17.2.4

結束任何或所有客戶與富途證券之間之合約,透過在一間或多間相關交易所買入證券以填補客戶之任何淡倉,或透過在一間或多間相關交易所沽出證券以清算客戶之好倉;

17.2.5

沽出或以其他方式處置為客戶持有之證券,以清償任何客戶對富途證券之欠債而該欠債乃在富途證券處置所有客戶用以作該欠債之抵押品後仍然存在;及

17.2.6

按照本協議,合併或綜合任何或所有客戶的帳戶及行使抵銷權。

17.3

就第17.2.5條下之任何沽售

17.3.1

倘若富途證券已付出合理之努力,以當時可得到之市場價格沽出或處置證券或其任何部份,則富途證券毋須為任何相關損失不論如何招致而負上責任;

17.3.2

富途證券有權以現有之市場價格撥予富途證券或向富途證券或任何集團成員沽出或處置證券或其任何部份,而毋須為任何相關損失不論如何招致而負上任何責任,亦毋須就富途證券及/或任何集團成員得到的利益作出交代;及

17.3.3

倘若沽售所得款項不足以填補所有客戶虧欠富途證券之數額,客戶承諾償付不足之數額予富途證券。

17.4

任何本協議下之沽售所得之款項應以下列之優先次序作出付款:

17.4.1

以完全彌償基準計算,償還所有富途證券之支出、徵費、收費、開支及款項(包括但不限於法律或專業顧問費用、印花稅、佣金及經紀費);

17.4.2

償還本協議所擔保之數額,不論是本金、利息或其他項目,其償還次序由富途證券酌情決定;

17.4.3

償還任何拖欠富途證券或任何集團成員之其他款項;而如有任何盈余必須交還客戶或依其指示處理。倘若沽售後仍有短欠數額,在毋須任何要求下,客戶必須償付富途證券該短欠數額。

17.5

富途證券就孖展證券(如附件一所定義)而已收取或應收取的任何股息、利息或其他款項(減去富途證券不時決定之合理收費)可以被富途證券作為沽售所得加以應用,而不論沽售的權力有否發生。

17.6

富途證券高級行政人員作出聲明或決定此第16條下之出售權利可予行使,該聲明或決定對于任何買方或承受其所有權的其他人士而言均屬于有關事實之終論性證據。

18. 責任與彌償
18.1

客戶同意富途證券或任何集團成員或任何其等各自的高級人員、雇員或代理人對因履行或不履行本協議或因第三方(不論該第三方是否由富途證券或任何集團成員所指定)之行動或違漏或如何因任何非富途證券或任何集團成員所能控制的原因而可能令客戶招致的任何損失、開支或損害賠償並無任何責任(因富途證券方面欺詐或故意失責而造成者除外)。再者,富途證券或任何集團成員或任何其等各自的高級人員、雇員或代理人將不會對因遵守任何適用的監管規則而負上責任。惟本第18.1條款將不會被解釋為以任何方式約束任何集團成員必須遵守本協議的任何條文除非該集團成員另有明確協議。

18.2

客戶承諾彌償富途證券及其高級人員、雇員及代理人,每一位或任何一位直接或間接因或就由或代富途證券及/或任何集團成員按本協議而作出任何行動或行使任何權利或酌情權或采取或選擇任何不行動,或直接或間接由於客戶的任何行動或遺漏,不論是否構成違反客戶于本協議下之任何責任或發生任何違約事項,或富途證券或其任何高級人員、雇員或代理人直接或間接因依賴本協議所述之任何陳述、聲明或由或代客戶提供之任何數據,或富途證券或其任何高級人員、雇員或代理人直接或間接因依賴相信由適當一方或各方簽署或作出的任何指令、簽署、文據、通知、決議案、要求、證書、報告或其他檔(不論乃口頭或書寫作出,亦不論是原版本、傳真版本或電子版本),而招致承擔或面臨或遭興訟或被威脅興訟的一切損失、損害賠償、利息支出、訴訟、要求、索償、法律程序、費用、支出(包括但不限於法律費用及因向客戶追債而合理地招致之費用)及責任(不論屬任何性質但由富途證券方面欺詐或故意失責而造成者除外),客戶並承諾確保富途證券及其高級人員、雇員及代理人免受損害。

18.3

倘若富途證券或客戶遭受有關本協議的任何申索,在不影響上述第18.1條之原則下,富途證券可酌情決定采用任何步驟,包括扣起向客戶支付或交付之任何款項或證券。

18.4

客戶確認:富途證券政策通常並不允許其代表全權處理客戶帳戶(如屬許可之例外情況,則必須在全權委托戶口協議書當中妥為記錄並附上委托書);如果因或關於客戶指示、允許、默許、批準、安排或同意任何富途證券代表全權進行帳戶交易或處置客戶款項(不論明示或默許亦然),而導致所有及任何損失、損害賠償、利息支出、訴訟、要求、索償、責任及、開支或法律程序(不論任何性質亦然),則客戶不應要求富途證券承擔任何責任,同時應當向富途證券作出相應彌償。

19. 資料披露
19.1

客戶向富途證券保證及承諾.客戶在本協議內或下或按本協議不時所提供之所有數據(及將會提供之數據)均準確、完整及最新的。上述資料如有任何改動,客戶須立即通知富途證券。除非富途證券接獲客戶以書面通知的任何變更,否則富途證券有權完全依賴該等資料作一切用途及任何該等書面通知須由客戶恰當地簽署。客戶明白及接受:盡管本協議或另有相反規定,任何該等數據之任何變更,只會在富途證券確實收妥有關書面通知當日起計五日後或富途證券可以書面同意之較短時間後才會生效。

19.2

本協議內或之下或據本協議所提供關於富途證券之數據,如有任何重大改動,富途證券應通知客戶。

19.3

在富途證券隨時及不時之要求下,客戶應立即向富途證券提供其合理要求並有關本協議目標之客戶財務數據及/或其他數據。客戶同意富途證券可對客戶進行信用調查或檢查,籍以確定客戶的財政狀況。

19.4

富途證券可將有關客戶及/或任何交易及/或帳戶之任何數據提供予任何監管機構或其他人士,以遵照合法之規定或要求(不論該等規定或要求是否具強制性);或當富途證券行使酌情權在其視為合適的情況將該等數據交予任何監管機構或其他人士。

19.5

富途證券須遵照規管有關個人資料使用之《個人資料(私隱)條例》(香港法例第486條)辦事。富途證券有關個人資料使用之政策及慣例,列明于本協議之附件五。

19.6

客戶向富途證券陳述、聲明並保證,客戶經已采取一切必要行動獲授權可向富途證券及本文允許的其他人士披露由或代本人/吾等在本協議內或下或按本協議不時所提供之所有數據〔包括但不限於《個人資料(私隱)條例》(香港法例第486章)所定義之個人資料〕及容許富途證券可為本協議及/或任何一項或多項本文所預期的交易及/或帳戶而使用該等數據。本陳述、聲明及保證亦視為于每次向富途證券提供任何數據當日由客戶作出。

20. 聲明、陳述、保證及承諾
20.1

客戶向富途證券陳述、聲明、保證及承諾(在此第19條內稱為「保證」):

20.1.1

倘若客戶乃一法團,客戶已按所有適用法律及規條適當地成立或建立為法團,其並具有訂立及履行本協議之法團權力,並已采取一切必需之法團行動及其他行動,基于本文條款及條件批準本協議;

20.1.2

客戶訂立本協議,毋須任何人士之同意或授權(除非客戶乃法團,並已按第20.1.1條取得同意或授權),包括但不限於借貸及抵押其資產權力,或因應情況而定,客戶已經取得所有必須之同意或授權(包括但不限於,如適用,其雇主之同意);

20.1.3

客戶訂立本協議,或進行與本協議有關之交易或借貸活動,均不會導致客戶違反任何其他安排及檔之條款(倘若客戶乃一法團包括其組織章程大綱及章程細則及/或客戶乃-受托人或信托法團,包括其任何信托契據)或任何員工證券交易政策,或其雇主任何之規定(如有的話),或在法律或監管規則下之任何責任。而客戶亦承諾遵守所有相關之法例、監管規則、條款、政策及守則;

20.1.4

客戶沒有采取任何行動、任何步驟作出破產或清盤亦沒有面臨或遭威脅任何涉及破產或清盤之法律程序。同時客戶亦沒有與其債權人作出任何債務妥協方案或債務償還安排;及

20.1.5

客戶確認其有責任確認自身之國籍、公民身份、居籍或類似身份。客戶承諾不可交易、買入或認購任何證券或投資若此等證券或投資乃因客戶之身份或其他特征而禁止其交易、買入或認購的。客戶已經取得所有于任何司法管轄區下與其稅項責任或其他責任有關之必要專業建議包括法律、會計、遺產策劃或稅務等方面。客戶在作出有關交易、買入或認購任何證券或投資之指示或指令時,並沒有以任何形式依賴富途證券。

20.2

客戶進一步向富途證券作出保證及陳述、聲明,任何一個保證都是真實、準確而沒有誤導性的。

20.3

客戶確認富途證券訂立本協議乃建基于及依賴保證。客戶將被視作每日作出保證,直至及包括終止本協議為止。

21. 代名人安排

若客戶任何證券以其代名人(「代名人」)之名義登記,不論該代名人是否集團成員,客戶同意下列各項:

21.1

代名人毋須為未能向客戶送交有關任何該等證券之任何通知、數據或其他通訊而負上責任(不論是疏忽或其他責任);

21.2

代名人可完全自由行使或不行使持有任何該等證券所引致或關連之任何權利,或清償或不清償持有任何該等證券所引致或關連之任何債務,而毋須事先諮詢或通知客戶亦毋須因此承擔任何責任,同時客戶須彌償代名人直接或間接因其真誠地采取或不采取任何行動所招致的所有損失、費用、索償、責任及開支;

21.3

客戶須支付代名人不時規定之費用、開支及收費,作為代名人服務之代價,此等費用、開支及收費將按富途證券認為恰當,從客戶設立于富途證券及/或其他集團成員的任何帳戶內之存款中扣除;而在客戶付款之前,代名人就有關金額對其持有之證券擁有留置權並該留置權乃附加于亦不影響代名人之其他權利;

21.4

代名人可按任何一位獲授權人或獲授權第三者之指令行事;及

21.5

代名人不一定要退還跟之前轉移給代名人證券編號相同之證券予客戶。

22. 合適性責任
22.1

假如富途證券向客戶招攬銷售或建議任何金融產品,由富途證券向客戶招攬或建議的該金融產品必須是富途證券經適當考慮客戶的財政狀況、投資經驗及投資目標後而認為合理地適合客戶的。除非應用法律及規則另有規定,否則本協議的任何條文、其他由客戶按照富途證券的要求而簽署的文件或其他聲明如減損本條款的效力,將為無效及對客戶不具約束力。

23. 其他
23.1

適用法律
本協議受香港法律之管轄,並按其詮釋。客戶現不可撤回地服從香港法院行使非獨有之司法管轄權。本協議、本協議下所有權利、責任及債務、本文項下的所有交易對于富途證券、富途證券的繼承人及受讓人(不論是透過合併、兼並或其他方式成為繼承人或受讓人)、以及對客戶及客戶的繼承人、遺囑執行人、遺產管理人、受遺贈人、繼任人、個人代表或獲批準受讓人均具有約束力並使其等受益

23.2

可執行範圍
倘若本協議之任何條款因任何適用法例之條文而成為無效或無法強制執行,剩余之條款應繼續全面有效,且如有需要,剩余條款應作出所需之修改,以便可以在可能之範圍內充份實現本協議之精神。

23.3

富途證券之角色
除本協議另有明確規定外,關於富途證券按本協議所進行之任何交易,富途證券乃以代理人而非當事人之身份行事,惟富途證券向客戶發出相反之通知及由於該由客戶提出的交易其性質所需除外。

23.4

富途證券之舉報權利
在不影響富途證券在法例下之權利及責任之情況下,客戶確認富途證券有權向任何監管機構、機關或有關金融產品發行者舉報任何懷疑不當交易行為、其他不良行為或不合規則事件。 同時,富途證券可按其獨有的酌情權暫停運作帳戶或拒絕執行任何指令,就不論怎樣相關富途證券暫停運作帳戶或其延遲或拒絕執行關於帳戶之指令而產生之任何申索、損失、法律程序或費用,富途證券概不負責。

23.5

客戶之責任

23.5.1

客戶承諾按富途證券之要求執行及簽署與實施、簽訂及履行本協議有關之任何行動、契約、文件或事項。客戶不可撤回地委任富途證券為其受托代表人,執行及簽訂任何在本協議下客戶承諾執行或簽訂但其在富途證券要求下未能完成之任何行動、契約、文件及事項。

23.5.2

若客戶懷疑帳戶可能已出現欺詐或不妥情況,客戶須致電富途證券的防止詐騙熱線:(852) 2523 3588 或嗣後富途證券以書面不時通知客戶之其他電話號碼,以便立即通知富途證券。

23.6

聯名帳戶

23.6.1

倘若帳戶乃聯名帳戶,除非開戶申請表內另有說明,富途證券可以接受任何帳戶持有人之指令,且每位聯名帳戶持有人同意與其他聯名帳戶持有人共同及各別地負責與本協議有關之所有責任。富途證券沒有責任查究任何指令的目的或其適當性或留意就帳戶由客戶或任何一個或多個聯名帳戶持有人所交付之任何款項之運用。富途證券可完全自由免除或解除任何帳戶持有人本協議下的責任,亦可以接受任何帳戶持有人提出的建議或者與其作出其他安排,而同時並不免除或解除其他人士之責任,亦不損害或影響富途證券對其他人士所行使的權利或從此等人士獲得補償,任何一名聯名帳戶持有人士去世之後,所有聯名帳戶持有人之責任以及本協議仍然有效,不得免除或解除。

23.6.2

根據本協議向任何聯名帳戶持有人發出之任何通知書、報告、通知或通訊將視為已適當地向所有聯名帳戶持有人發出,除非:(i) 于開戶申請表中已載有客戶之通訊地址,那麼任何通知書、報告、通知或通訊將送往該通訊地址或嗣後按本協議通知富途證券之其他通訊地址;或 (ii) 客戶已要求並富途證券已同意,所有通知書將送往所有聯名帳戶持有人之電郵地址而該等電郵地址乃是于富途證券記錄上最後通知其之電郵地址,那麼所有通知書將如此發出。富途證券按照上述所發出之任何通知書、報告、通知或通訊將被視為已被所有聯名帳戶持有人收到並對其等具約束力。

23.7

客戶授權
凡客戶在另一集團成員設有帳戶,並指令富途證券從該帳戶提取現金、證券及/或其他財產,客戶現授權富途證券可代其要求該集團成員發放上述現金、證券及/或其他財產予富途證券。

23.8

電話記錄
富途證券可以記錄與客戶之間之電話對話,且任何該等記錄之內容將作為有關對話及其內容之最終及結論性證據。

23.9

客戶聲明、陳述
客戶確認,富途證券曾提出向客戶解釋本協議之條款,而且客戶已得到該解釋或客戶不需要該解釋即完全理解本協議之條款。客戶確認,富途證券已經建議客戶及客戶已經有機會征詢其獨立法律及其他專業顧問之意見。

23.10

豁免
除在本協議中另有明確規定之外,任何本協議一方沒有行使或延遲行使其在本協議下之任何權利、權力或特權,不構成對該權利、權力或特權之豁免;任何單獨或部份行使任何權利、權力或特權,並不排除對該權利、權力或特權之其他或進一步行使,亦不排除行使任何其他權利、權力或特權。富途證券對于其權利之豁免,除非采用書面形式通知,否則一律無效。富途證券之權利及補償權是累計的,包括法例賦予其之任何權利及補償權。

23.11

轉讓

23.11.1

未經富途證券事先書面同意,客戶不得轉讓、委托、分包、轉移或以其他方式處置其在本協議下之任何權利或責任予任何人士。在遵守法例之大前提下,富途證券可以在其認為適合之情況下,轉讓、委托、分包、轉移或以其他方式處置其在本協議下之任何權利或責任。

23.11.2

當富途證券組合、合併、重組或轉移其業務予另一機構(包括在集團內的機構),富途證券可以轉讓在本協議下之任何權利及義務予該機構。富途證券應發出通知予客戶,該通知內會列明該轉讓生效日期。該日期應為發出通知後至少10日。該轉讓之效力如同于客戶及該機構之間建立一份約務更替協議。因此,若有此等情形,客戶現同意富途證券可日後作出任何本協議之轉讓。

23.12

不可抗力
一旦戰爭、恐怖主義活動、革命事件、暴動、統治者之管製、軍事騷動、暴亂、內亂或其他涉及任何國家的類同行動、罷工或停工或拒絕工作或勞工管製、財產被扣押或充公或其他有類同影響的政府行動、政府管製貨幣兌換或政府管製資金流動或轉移、任何天災、流行性傳染病、全國流行性傳染病、惡意破壞行為、任何交易所之營運遭受擾亂、計算機系統及/或通訊設施故障、或任何其他類同事件發生,而非富途證券所能控制之範圍內,導致富途證券在履行本協議下其責任時受掣肘或阻礙(「不可抗力事件」),那時,富途證券可作為履行其責任之其他選擇,絕對酌情權決定:(a)延遲其履行責任直至該不可抗力事件失卻影響力;或(b)倘若須有任何交付或支付,提供或要求現金結算而該結算乃根據發生不可抗力事件前之第二個營業日當日之有關該結算之證券或金融工具的現行市價(該現行市價由富途證券終論地決定)。富途證券不會負責客戶任何因或關於發生不可抗力事件而招致之損失。客戶同意獨自承擔不可抗力事件之風險。

23.13

通知

23.13.1

向客戶作出或提供之任何通知書、報告、通知或通訊,均應采用書面形式,並可以普通郵遞途徑寄至其于開戶申請表上列明之地址,或以傳真或電子途徑(包括透過電子服務,如附件六中之定義),傳送至開戶申請表上列明之傳真號碼或電郵地址(或嗣後客戶按本第23.13條款以書面形式通知之其他地址、傳真號碼或電郵地址)。按照上述方式發出之任何通知,若以郵遞方式發出即在郵寄後的48小時後被視為已經送達,或若以傳真或電子方式發出即在傳送時被視作已經送達。

23.13.2

富途證券亦可根據開戶申請表上之電話號碼或客戶以書面通知富途證券之其他號碼,以電話向客戶發出通知。以電話向客戶發出之所有通知即時被視為已送達。

23.13.3

于所有情況下,若向富途證券作出或交付任何通知或通訊(不論屬任何性質),其于富途證券確實收妥當日才被視作已向富途證券作出或交付。

23.14

修訂與終止

23.14.1

富途證券可行使其絕對之酌情決定權而毋須給予任何理由,暫停或終止帳戶,並可隨時停止代表客戶采取行動。帳戶被暫停或終止時,客戶拖欠富途證券之所有款項將立即到期及須繳付,及客戶須立即向富途證券支付該等款項。

23.14.2

客戶同意本協議之條款,可由富途證券酌情不時更改,並以書面通知客戶;在此情況下,更改後之條款及條件應從該通知書內所指定之生效日期起適用,不論該指定生效日期是該通知書日期之前或之後但須受製于適用法律。該等更改將被包含為並成為本協議之一部份。

23.14.3

任何一方均可在任何時候通知另一方終止本協議,惟該終止不應影響:

23.14.3.1

該終止前任何一方已產生之權利或債務;

23.14.3.2

客戶在本協議下作出之保證、陳述、聲明、承諾及彌償,其等在終止後仍然有效;及

23.14.3.3

客戶按本協定對富途證券之任何責任。

23.14.4

本協議之終止,將不會影響在終止日前富途證券或其任何代理人或任何第三方在本協議容許下並已展開之行動,或客戶在本協議下給予之任何彌償或保證。

23.15

時間
客戶履行其于本協議下及本協議下所預期之所有交易之所有責任時,時間概為要素。

附件一:保證金(孖展)融資
1. 釋義
1.1

在本附件一內,除非文意另有所指,下列詞語將具以下釋義:

1.1.1

「融資安排函件」指富途證券提供予客戶之有關融資之函件;

1.1.2

「債務」指任何支付或償還金錢之責任,不論實際或或有的亦然;

1.1.3

「負債」指以下各項之總計:

(A)

所有客戶現時及/或將來實際及/或或有的拖欠富途證券之債務或其他責任(不論以任何貨幣顯示,亦不論客戶以主要債務人或以擔保人的身份,也不論是單獨、各別或與其他人聯同引起的),包括(但不限於)從任何往來、貸款或其他帳戶(不論已存在或在本協議簽訂日後才開立之帳戶)中預支之所有款項,以及在貨幣和其他金融交易中引起之所有金錢上之責任;

(B)

發出還款要求前和自發出還款要求日至付款日期間,以及作出裁決之前及之後,就上述(A)段所提及之款項和負債所引起之任何利息(不論上述任何各項是否已經予以資本化);及

(C)

在完全彌償基準之上,富途證券以任何方式就上述債務和負債或就本協議所引起之所有收費、佣金、律師費和其他費用,包括但不限於富途證券在強制執行或以其他方法試圖討回任何該等債務或負債而引起之任何外匯損失及開支。

1.1.4

「孖展帳戶」是指具有融資便利的帳戶。

1.2

凡本協議條款與本附件一條款之間有任何不一致,以本附件一之條款為準。

1.3

除非文意另有所指,否則本協議內所定義之詞語在本附件一內意義相同。除非文意另有所指,本附件一中所提述的條款的是指本附件一所載的條款。

1.4

融資安排函件之條款及客戶就融資而作出之任何授權書構成本附件一之一部份。

2. 孖展證券交易帳戶
2.1

作為富途證券向客戶提供融資之代價,客戶以第一固定押記之形式持續性地抵押予富途證券,所有以下提述之證券作為支付及清償其被要求時須繳付之負債之擔保。該等證券乃客戶現在或在任何時候為了促成提供與帳戶相關之融資而存于富途證券或任何集團成員或富途證券指定或同意的任何代名人或保管人或任何人士,或由此等人士所擁有、托管或控制之所有客戶之證券,包括就該等證券而派發或支付之所有股息及其他分配,以及在任何時候以贖回、花紅、優先股、認購權、購買代價或任何形式所產生之權利或就上述證券而產生或被提供之所有證券(以及就其等分發之股息及其他分配)、權利、款項或任何性質的財產(「孖展證券」)。

2.2

客戶承諾:

2.2.1

通過向富途證券支付足夠款項之方式,或通過在富途證券存入(或促使存入)足夠證券之方式,以維持融資安排函件中規定的或富途證券不時決定之孖展水平(「孖展」);

2.2.2

在富途證券之要求下,立即向富途證券並以可自由提取使用之現金支付有關之款項及/或向富途證券交付相關之額外證券,作為負債之額外或替代抵押品;為免存疑,按本條款下存放于或交付給富途證券之任何證券將構成孖展證券之一部份。

2.3

富途證券從客戶收取之任何款項,均可以在富途證券認為合適之時間內存于一個生息之暫記帳戶內,但同時富途證券沒有責任以該等款項或其任何部份以清償任何負債。盡管有任何該等款項,倘若發生破產、清盤、解散、債務重整協議或安排,富途證券可就該等款項及負債之全數或任何部份以尤如本抵押不存在時會采用之同樣方式,提出債權證明和同意接收相關之攤還債款或債務重整協議。

2.4

客戶應每月按照融資安排函件內指定之正常息率支付富途證券負債相關之利息;然而,若發生任何違約事項,上述正常息率將被融資安排函件內指定之違約息率所替代,而該替代將于發生該違約事項當日即時生效,除非富途證券另有書面協定。

2.5

不管本協議之任何規定,富途證券可隨時酌情決定向客戶發出書面通知,指定另一息率,該新指定之息率應自通知日當日或通知書所指明之較後日期當日起生效。

2.6

客戶同意,富途證券有權(但無責任)可隨時及不時並無須事先通知從富途證券處開立之任何帳戶或客戶在其他一個或多個集團成員處的任何一個或多個帳戶內扣除到期及客戶按本附件一以上2.4 或2.5條款應付之任何利息及客戶承諾應富途證券之要求立即作出及/或簽署富途證券可能隨時及不時要求之行動及/或檔,以使每一項該等扣除全面生效。

3. 孖展證券
3.1

倘若客戶毫無扣減地向富途證券支付全部負債金額,富途證券將在該等款項償付後任何時間,當客戶要求並支付費用後,解除于此產生之抵押。惟當解除抵押時,富途證券退還之證券,只需與原本存入或轉讓予富途證券之證券屬同等級別、面值、面額及享有同樣權益(惟須考慮可能在此期間出現任何如資本重組等情況),而毋須與原本存入或轉讓予富途證券之證券之編號相同。

3.2

授予富途證券之抵押乃持續抵押,不應因任何中期支付或清償全部或任何部份負債而解除,或因結束客戶在富途證券處開立之任何帳戶而解除(不論是否日後重開及不論獨自或與他人聯同開立)。

3.3

在此授予富途證券之抵押,乃添加于且不減損富途證券現有或今後可能從客戶或為客戶而持有之任何抵押品或其他保證,且富途證券可能因其他原因而享有的抵押品或其他保證或任何留置權(包括在本協議之前之任何抵押、押記或留置權),或並非本協議訂約方之任何人士就本協議下保證之全部或任何部份款項和負債而承擔之責任,均不會在任何方面因在此授予富途證券之抵押而受到損害或影響。富途證券擁有全權酌情處理、交換、免除、修改或放棄完成,或放棄強制執行任何該等保證或其也現在或嗣後可能享有之其他擔保或權利,或對任何其他一位或多位人士給予付款寬限時間或任何寬免,而不會解除或以任何方式影響客戶之負債或本協議下設立之抵押。富途證券從客戶或有責任付款之任何一位或多位人士收取之所有款項,富途證券可應用在任何適用之帳戶或交易。

3.4

在本抵押持續期間,客戶須支付所有有關任何孖展證券應付之款項,惟富途證券若認為恰當,可代客戶付款。富途證券如此支付之任何款項,客戶須立即償還,及在還款前該款項按適用息率附加利息,並成為孖展證券上之押記。

3.5

在附加于及不影響富途證券在法例或本協議下,其可享有之任何一般留置權、抵銷權或其他類同權利之情況下,所有富途證券持有或擁有之證券、所有應收款項、款項及客戶之其他財產(客戶單獨或聯合持有),均受製于富途證券之一般留置權下作為持續抵押,以抵銷及解除客戶在證券交易業務中對富途證券或任何集團成員之所有責任。

3.6

富途證券有權根據市場情況及/或監管機構的要求而調整對客戶孖展保證金的要求。

3.7

客戶以擔保的方式,不可撤銷地任命富途證券作為客戶的受托代表人,代表客戶並以客戶的名義行事,及簽署、蓋章、執行、交付、完善及訂立所有契約、文書、文件,作為和事物,以履行根據孖展融資條款施加于客戶的義務,及在整體上令富途證券行使根據孖展融資條款或根據法律而賦予富途證券的權利和權力,富途證券可作出包括但不限於下述任何行為而無需通知客戶:

3.7.1

就任何孖展證券簽立任何轉讓契或擔保;

3.7.2

就任何孖展證券存放于認可財務機構,作為該機構向富途證券提供財務通融之抵押品;

3.7.3

就任何孖展證券完善其所有權;

3.7.4

就任何孖展證券之下或所產生的到期或變成到期的任何及所有款項和索償而作出查詢、規定、要求、接收、和解及作出良好的解除;

3.7.5

就任何孖展證券發出有效的收據和解除及背書任何支票或其他票據或匯票;及

3.7.6

就為著富途證券認為有必要或有利于保護根據孖展融資條款下產生的孖展證券起見,一般而言作出任何索償、或采取任何法律行動或進行任何訴訟程序。

4.授權

本附件一下的授權有效期為12個月(「常設授權」),並于本附件簽立之日起生效。 然而,在客戶對富途證券無任何欠債的情況下,客戶可隨時以不少于5個營業日的書面通知撤銷常設授權。富途證券會于常設授權的有效期屆滿14 日之前,向客戶發出書面通知,提醒客戶有關常設授權即將屆滿,而客戶如沒在該等常設授權屆滿前反對該等常設授權續期,該等常設授權將根據《證券及期貨條例》下的有關規定按相同條款及條件作12個月的續期或當作已續期。

5. 聲明、陳述、保證及承諾

客戶向富途證券陳述、聲明、保證及承諾,並無他人同時擁有有關孖展證券之任何權益,並承諾除按本協議之條款外,不會沽出孖展證券,不會授予孖展證券之期權,亦不以其他方式處理孖展證券,以及不在孖展證券上設定或允許存在抵押、質押或其他產權負擔。

附件二:首次公開發售
1. 釋義
1.1

除非文意另有所指,于本協議所定義之詞語,在此附件二內含意相同。除非文意另有所指,在此附件二內所提述之條款,即指此附件二內之條款。

1.2

凡本協議條款與本附件二條款之間有任何不一致之處,以本附件二條款為準。

2. 首次公開發售
2.1

凡客戶要求富途證券代其認購在交易所上市之新發行證券(「申購」),此附件二之條款即適用。

2.1.1

客戶授權富途證券填妥可能需要的申請表,並向富途證券陳述、聲明及保證申購人必須作出在申購書上所載述或包含之一切有關客戶之陳述、聲明、保證、確認及承諾,均真實及準確。

2.1.2

客戶同意受新發行證券之條款所約束並:

2.1.2.1

保證及承諾該申購乃在同一次證券發行中為客戶利益而作出之唯一申購,及于該次證券發行,客戶不可同時進行其他申購;

2.1.2.2

授權富途證券向交易所陳述、聲明及保證客戶不會亦不擬作出其他申購,並且不會亦不擬為客戶的利益而作出其他申購;

2.1.2.3

確認富途證券乃依據以上之保證、承諾及授權而進行申購;

2.1.2.4

確認富途證券沒有任何責任把列明新發行證券之條款及條件之上市檔(「招股書」)交予客戶。對于客戶有關之申購,客戶確認已從其他地方取得招股書,並已細閱及明白其中之條款及條件,而客戶之申購亦不會違反該等條款及條件。客戶確認除非在適用之證券條例下其乃合乎資格,否則客戶不會認購新發行之證券;及

2.1.2.5

陳述、聲明及保證並非有關新發行證券的證券發行者之關連人士(按監管規則下之定義)。

2.1.3

客戶可同時要求富途證券提供貸款作申購之用(「貸款」),以下之條款則適用:

2.1.3.1

富途證券擁有酌情權接受或拒絕該貸款要求;

2.1.3.2

一旦接受貸款要求,富途證券應提供合約細則或其他檔(「合約細則」)予客戶以確認雙方同意之貸款條款,該等貸款條款乃終論性的,並對客戶具約束力;

2.1.3.3

在富途證券提供貸款之前,客戶應先向富途證券提供按金,此按金乃組成申購款項之一部份,金額及提供時限在合約細則內列明。客戶授權富途證券從其設于富途證券的任何帳戶扣除一筆相當于按金的款項,但富途證券可自行酌情要求客戶支付足夠款項給富途證券作為按金;

2.1.3.4

除非合約細則內另有指明,否則:
(1) 貸款之金額應相等于申購證券之總價格,再減去客戶根據本2.1.3條付出之按金;
(2) 客戶沒有權利在合約細則中訂明之償還日期前償還部份或全部貸款。

2.1.3.5

適用於貸款的息率將在合約細則中訂明;

2.1.3.6

凡富途證券接獲有關申購之退款,不論是在合約細則內訂明的償還日期之前或之後,富途證券均有酌情權決定將全部或部份退款用以清還貸款包括其已累積之利息,或退回上述退款或其任何部份予客戶。

2.1.3.7

作為富途證券向客戶發放貸款之代價,客戶以第一固定押記的形式持續性地抵押予富途證券,所有以下提述之證券作為對貨款及其累計利息全部償還的保證。該等證券乃帳戶內的所有證券(「帳戶利益」)其中包括上述證券所衍生的所有證券、股息及其他分配,以及于任何時候以贖回、花紅、優先股、認購權、購買代價或任何其他形式所產生之權利或就上述證券而產生或被提供的權利、金錢或任何形式的財產,以及透過貸款代表客戶申購而購入的證券。在法例的規限下,客戶授權富途證券在此抵押仍持續時,得以酌情及不須通知客戶,處置該等帳戶利益以支付客戶要清償或解除由富途證券所提供的任何財務融資的責任。富途證券于貸款及其累計利息全部清償後,將解除于此產生之抵押。

2.1.3.8

申購之貸款,尤如在融資安排下發放之貸款一樣,因此,富途證券將擁有列明于附件一內之權利。

附件三:香港聯合交易所有限公司有關期權交易之特別規則
1. 釋義
1.1

在本附件三內,除非文意另有所指,下列語詞將具以下定義:

1.1.1

「香港交易所」指香港交易及結算所有限公司;

1.1.2

「香港結算公司」指香港中央結算有限公司;

1.1.3

「聯交所」指香港聯合交易所有限公司;

1.1.4

「期權結算所」指香港聯合交易所期權結算所有限公司;

1.1.5

「期權帳戶」指客戶在期權合約交易中使用之帳戶,而本附件三之條款乃適用於該帳戶;

1.1.6

「期權交易規則」指聯交所不時修訂之期權交易規則;

1.1.7

「保證金」指在本附件三下客戶向富途證券抵押其等不時同意之現金及/或證券及/或其他資產。

1.2

在不影響以下第1.3條之情況下,除非文意另有規定,否則本協議內所定義之詞語在本附件三內意義相同。

1.3

未被定義之詞語及詞句之定義,應根據期權交易規則及期權結算所之期權結算規則所賦予之意義為準。

1.4

除非文意另有所指,在本附件三內對于條款之提述,即指本附件三內之條款。

1.5

凡本協議條款與本附件三條款之間有任何不一致之處,以本附件三之條款為準。

2. 有關於聯交所交易之期權之特別規則
2.1

本附件三僅適用於根據期權交易規則第513條所訂立、當中包涵經聯交所不時修訂載于期權交易規則之條款及條件的期權合約,以及適用於客戶用以交易該等期權合約之帳戶。

2.2

富途證券將對有關期權帳戶之數據保密,只在交易所、證監會、香港交易及結算所有限公司及期權結算所之要求或請求下,提供該等數據。

2.3

客戶確認:

2.3.1

客戶不是聯交所中任何其他期權交易所參與者之雇員,任何期權交易所參與者之雇員均不會在期權帳戶中擁有實益權益;及

2.3.2

期權帳戶只為客戶及其利益而運作,並非為其他人士之利益;或

2.3.3

客戶已書面通知富途證券客戶代表其等利益運作期權帳戶之人士名單;或

2.3.4

客戶已要求富途證券以綜合帳戶形式運作該期權帳戶,並會于富途證券要求後立即通知富途證券任何最終實益擁有客戶合約權益之人士的身份。

2.4

法例及規則

2.4.1

所有在交易所交易的期權業務應按所有對富途證券適用之監管規則而成立。當中包括但不限於期權交易規則、期權結算所的結算規則及香港結算公司的規則。尤其,期權結算所有權按照監管規則修改合約之條款,而富途證券應通知客戶有關影響客戶一方之合約修改。由富途證券、聯交所、期權結算所或香港結算公司按照監管規則采取之任何行動均對客戶有約束力。

2.4.2

在本附件三賦予富途證券之任何權利及權力均須遵照監管規則,但不影響富途證券或任何集團成員擁有之其他權利及補償權。

2.4.3

客戶同意有關於相關的期權系列之標準合約條款均適用於客戶與富途證券之間就該等期權系列訂立之每一客戶合約,並所有客戶合約均按監管規則設立、行使、結算及解除。

2.5

保證金

2.5.1

客戶同意為在本附件三項下之責任向富途證券提供保證金,其形式由雙方不時同意決定。該等保證金應在富途證券不時要求下支付或交付。保證金需要的數額不可少于,但可多于,就客戶持有之未平倉合約或交付責任按監管規則所訂明之數額,及保證金可能被要求添加,藉以反映市值之變化。

2.5.2

倘若富途證券接受以證券作為保證金,客戶在接獲請求時須向富途證券提供監管規則要求富途證券須有之授權,致使富途證券有權,直接或透過另一期權交易所參與者交付該等證券予期權結算所,以作為關於在交易所交易的期權業務(因客戶指令富途證券)之聯交所期權結算所抵押品。除另有訂明外或除非客戶另有授權,富途證券不具有客戶任何其他進一步授權,以任何目的,借入或借出客戶之證券,或以其他方式放棄管有客戶之證券(除非交予客戶或按客戶之指示)。

2.5.3

若富途證券並無如期收到客戶應付的聯交所期權結算所抵押品,富途證券可當客戶違約處理。富途證券可于接受客戶的指示之前,預先要求客戶在富途證券維持聯交所期權結算所抵押品,或為收取聯交所期權結算所抵押品,施加富途證券認為合適的其他要求。

2.5.4

富途證券可將客戶之任何期權帳戶的現金存入富途證券認為合適的任何持牌銀行,富途證券有權保有該等存款洐生之任何利益。

2.6

客戶違約

2.6.1

在不影響本協議第16條之情況下,倘若客戶未能遵循任何在本附件三下之責任及/或承擔任何債務,其中包括但不限於未能提供保證金,及/或以任何方式違反期權交易規則下客戶應遵守之責任,富途證券可以在不通知客戶之情況下:

2.6.1.1

拒絕接受客戶有關在交易所交易的期權業務之進一步指示;

2.6.1.2

平倉、過戶或行使部份或所有客戶與富途證券之間之客戶合約;

2.6.1.3

訂立合約或證券、期貨或商品交易,藉此清償因客戶違約而產生的責任,或對沖富途證券因客戶未能遵行責任或清償債務而須承受的風險;

2.6.1.4

處置保證金,並將所得收益用以付還客戶虧欠富途證券之債務;及/或

2.6.1.5

處置任何或所有為客戶持有或代表客戶持有之證券,以抵銷客戶之任何責任及行使任何富途證券享有與客戶有關之抵鎖權利。

2.6.2

客戶同意支付按富途證券不時通知客戶之息率及其他條款計算之所有逾期付款之利息(包括獲得針對客戶的判定債項後產生之利息)。富途證券可(及現獲授權)不時並無須事先通知從富途證券處開立之任何帳戶或客戶在其他一個或多個集團成員處的任何一個或多個帳戶內扣除客戶按本2.6.2條款應付之任何利息及客戶承諾應富途證券之要求立即作出及/或簽署富途證券可能隨時及不時要求之行動及/或檔,以使每一項該等扣除全面生效。

2.7

合約

2.7.1

根據客戶指示訂立之所有合約,客戶須在富途證券所通知之期限內支付已通知客戶之期權金、富途證券之佣金及任何其他費用,以及聯交所之適用徵費予富途證券。富途證券亦可在期權帳戶中扣除該等期權金、佣金、費用及徵費。

2.7.2

富途證券可限製客戶在任何時候持有之未平倉合約或交付責任,客戶確認:

2.7.2.1

富途證券可能被要求把客戶合約平倉以符合聯交所設下之持倉限製;

2.7.2.2

倘若富途證券違反約定,聯交所之違約程序可能導致客戶合約被平倉或被另一份客戶與聯交所之其他期權交易所參與者之間之客戶合約所替代。

2.7.3

在客戶之要求下,富途證券可能會同意把與客戶訂立之客戶合約在依據監管規則下,被客戶與聯交所之其他期權交易所參與者之間之客戶合約所替代。

2.7.4

行使客戶合約之時,客戶應按標準合約及富途證券對客戶之通知,履行在有關合約下的交付責任。

2.7.5

當客戶持有須申報之持倉量(按證券及期貨(合約限量及須申報的持倉量)規則(香港法例第571Y章)或其他適用之規則或規例中之定義),客戶須負責通知聯交所或其他有關規管機構。

2.7.6

客戶確認,在遵循證券及期貨條例及其他法律之前提下,富途證券可就有關在交易所交易之任何期權交易合約,采取與客戶指令相反之倉盤,不論是為了富途證券本身之帳戶、任何集團成員之帳戶或其等職員、雇員或代表,或富途證券或任何集團成員之其他客戶之帳戶而作出的;惟有關交易應根據聯交所的規則、規例及程序透過聯交所的設施、或根據任何其他商品、期貨、期權交易所的規則或規例透過其設施具競爭性地予以執行。

2.7.7

在不影響本協議第16條之情況下,凡富途證券行使任何權利:
按本附件三之第2.6.1條或第2.7.2條把任何在客戶期權帳戶內之持倉平倉或過戶;

2.8

概則

2.8.1

客戶確認,縱使所有期權合約均在聯交所中執行,客戶及富途證券乃以當事人身份訂立客戶合約。

2.8.2

富途證券同意在客戶要求下向客戶提供(i)期權合約之產品細則及任何涵蓋該等期權合約之發行章程或其他發售文件;(ii)香港交易所之小冊子《理解股票期權(及其風險)》。

2.8.3

倘若富途證券未能履行按本附件三下對客戶之責任,客戶有權依據賠償基金之不時條訂的條款,向證券及期貨條例下成立之賠償基金申索。

2.8.4

客戶理解在有效到期日,但僅在有效到期日當天,期權系統將自動發出有關所有在價內等如或高於期權結算所不時所定比率之長倉並未平倉合約之行使指示。

2.8.5

客戶可以根據期權結算所訂立之結算運作程序,在有效到期日系統終止之前,指示富途證券撤銷在第2.8.4條中提及之 「自動發出之行使指示」。

2.9

其他
富途證券將指定一位雇員主要負責客戶事務。該雇員的全名及適用法律要求之該雇員的牌照詳情將通知客戶。富途證券可按其絕對酌情權,隨時及不時指定富途證券的其他一位雇員替代首先提及之雇員,並且該替代將由富途證券終論地決定的日子當日起生效。按本第2.9條款所提供之任何數據將成為本協議之一部份。

附件四:客戶身份確認
1. 釋義
1.1

本協議所定義之詞語與本附件四所述之意義相同,除非文意另有所指。本附件四所指的條款是指本附件四所包含的條款,除非文意另有所指。

1.2

如果本協議條款與本附件四條款之間有任何不一致,則以本附件四條款為準。

2. 在富途證券提出要求之後立即並須在兩(2)日內(或者在富途證券所規定的其他限期內),就有關帳戶最終受益持有人及/或就任何交易、或就帳戶之任何證券或投資交易作出指示的最終負責人士,客戶須向富途證券及/或監管機構提供數據(包括但不限於詳細的身份、地址、職業、聯絡詳情及/或倘屬公司實體,其業務性質及經營活動範圍、資金來源、業務架構、股權及其他數據)。
3. 如果客戶為集合投資計劃、全權委托帳戶或信托進行帳戶操作或交易,客戶應當:
3.1

在富途證券提出要求之後立即並須在兩(2)日內(或者在富途證券所規定的其他限期內),向富途證券及/或監管機構提供該計劃、帳戶或信托之名稱、地址、聯絡詳情,以及(如適用)代表該計劃、帳戶或信托向客戶發出操作帳戶及/或交易之指令而該指令乃最終源自一人士,該人士之身份、地址、職業或業務架構以及聯絡詳情;以及

3.2

在客戶代表該計劃、帳戶或信托進行帳戶操作或投資的酌情權或權力被推翻、撤銷或終止時,在切實可行的情況下盡快通知富途證券。在如此的情況下,客戶須在富途證券提出要求的情況下並于富途證券所指定的限期內,即時向富途證券及/或監管機構提供有關推翻指示或發出撤銷或終止通知的人士之身份、地址、職業及聯絡詳情。

4. 如果客戶並不知悉上面第2及第3條所述數據,客戶必須確認:
4.1

客戶經已製定相關安排,可以在富途證券及/或監管機構提出要求之時立即取得並向其/其等提供所有該等數據或在富途證券及/或監管機構提出要求兩(2)日內促致取得該等資料;

4.2

客戶須根據富途證券的要求即時從任何相關第三者取得所有該等數據,並于兩(2)日內或富途證券及/或監管機構所規定的其他限期之內向富途證券及/或監管機構提供所述數據;以及

4.3

在富途證券及/或監管機構收到該等數據之前,或者富途證券及/或監管機構未能在兩(2)日內或在其/其等規定的其他限期之內收到該等數據,富途證券可以根據其絕對酌情權,隨時拒絕執行客戶任何指示(即使拒絕執行指示可能引致損失)及/或暫停或終止任何交易或帳戶操作。

5. 客戶確認,並無任何監管規則或任何相關司法管轄區之任何法律禁止客戶履行本附件四所規定之責任,或者雖然客戶受到有關監管規則及/或有關法律所約束,但客戶或客戶本身的客戶(視乎情況而定)經已放棄有關監管規則及/或有關法律所賦予的利益,或者已書面同意客戶履行本附件四所規定之責任。客戶確認該放棄,在所有相關司法管轄區的法律之下是有效的並具有約束力。
6. 本協議終止後,客戶根據本附件四提供數據的責任將繼續具有十足效力及作用。
附件五:個人資料
1. 釋義
1.1

本協議所定義之詞語及與本附件五所述之意義相同,除非文意另有所指。本附件五所指的條款是指本附件五所包含的條款,除非文意另有所指。

1.2

如果本協議條款與本附件五條款之間有任何不一致,則以本附件五條款為準。

2. 關於帳戶之開立或延續,或者富途證券所提供之服務以及一般性就于香港客戶與富途證券之關系,客戶有必要不時向富途證券提供數據(包括不時修訂的《個人資料(私隱)條例》(香港法例第486章)所定義之個人資料)。如果無法提供或容許富途證券使用或者披露該等數據,可能導致富途證券無法在香港或其他地方向或為客戶提供或繼續提供上述任何設施或服務。
3. 富途證券可能基于下列目的收集、使用及/或披露數據(不論在客戶終止與富途證券的關系之前或之後亦然):
3.1

處理客戶、客戶作為其/其等擔保人或向其/其等提供第三方抵押的其他一位或多位人士所提出的服務申請,或向客戶或該/該等人士所提供服務的日常運作;

3.2

執行信用審查、核對程序、數據確認、盡職審查以及風險管理;

3.3

協助其他金融機構進行信用審查及追討債務;

3.4

確保客戶或任何擔保人維持可靠信用;

3.5

維持客戶或任何擔保人的信用記錄作為現在或將來參考之用;

3.6

為客戶設計供其使用的金融服務或相關產品(包括在適當的情況下向客戶提供財務意見);

3.7

推廣金融服務或相關產品(除非客戶對富途證券另有指示);

3.8

決定客戶或任何擔保人與富途證券之間的債務數額;

3.9

向客戶或任何擔保人追收欠款;

3.10

滿足法例所提出的資料披露請求或要求;

3.11

使富途證券在合併、並合、重組或其他情況下的實際或建議承讓人對擬作轉讓的交易進行評核;

3.12

法例許可的任何目的;

3.13

在任何法院或主管當局展開或進行答辯或以其他形式參與任何法律或行政程序;

3.14

遵守證監會頒布(並不時修訂)的《公司收購、合併及股份購回守則》及/或香港及/或世界任何地方有關收購的法例及/或監管規則的要求;以及

3.15

任何與上述有關的用途。

4. 富途證券所持有關於客戶、任何擔保人及/或帳戶的數據必須保密,惟富途證券可以根據其獨有酌情權向下列人士提供該等數據:
4.1

任何向富途證券提供行政、電訊、計算機、付款、追討債務、證券結算或其他富途證券業務運作相關服務的代理人、承辦商或第三方服務供貨商(不論在香港或其他地方);

4.2

在香港或其他地方的富途證券分支機構、辦事處或在香港或其他地方的任何集團成員;

4.3

作為擔保人或擬作為擔保人的任何人士;

4.4

對富途證券(或任何集團成員)負有保密責任或者經已承諾對該等資料保密的任何人士;

4.5

與客戶進行交易或擬作交易的任何金融機構;

4.6

信貸數據服務機構;如果客戶欠賬,可將數據提供予債務追討機構;

4.7

向出票人提供已付款支票副本(其中可能載有收款人資料)的付款銀行;

4.8

富途證券任何實際或提議的承讓人或受讓人;

4.9

與富途證券經已建立或擬建立任何業務關系的任何人士或實體或數據接受人;以及

4.10

符合法例的任何人士,包括政府、監管或其他團體或機構,不論是根據法律、適用於任何集團成員的規例或其他規定之要求或其他情況;或者發出《證券及期貨條例》第329條所指通知的任何公司。

5. 客戶同意,有關數據可以根據本附件五的條款轉移到海外。
6. 客戶確認並接受,根據本附件五作出數據披露的風險可能包括接收人根據其所在國家之法律向其他人士披露資料。而由於適用法律及規例的不同,與香港的情況相較,有關法律的適用範圍可能較廣,其執行亦可能較寬松。
7. 客戶同意容許富途證券可為本附件五所列之目的及向于本附件五所列人士披露客戶數據及可按本附件五使用該等數據。
8. 當客戶向富途證券提供任何數據(包括個人資料)時,客戶向富途證券陳述、聲明並保證,客戶經已采取一切必要行動獲授權可向富途證券披露及容許富途證券可按本協議使用該等數據。
9. 客戶可要求確定富途證券是否持有客戶的個人資料及關於個人資料富途證券之政策及實務。再者,客戶可以查詢及更改客戶個人資料。客戶亦有權了解富途證券持有的個人資料之種類及富途證券常規性地向信貸資料服務機構所披露的數據項,並有權獲得進一步的數據,以便向相關信貸數據服務機構作出查詢及更改數據的要求。任何有關要求應提前十四(14)日以書面通知富途證券投資服務有限公司數據私隱主任,地址為香港上環文咸西街14-20號盤谷銀行大廈11樓全層或富途證券日後所公布之其他地址。富途證券可能會收取合理費用,以處理任何查閱數據之要求。
10. 當富途證券提供融資安排予客戶或客戶作為其擔保人的另一名人士時,倘若客戶或借款人拖欠還款超過六十(60)日或者法律或相關監管機構不時規定的其他期限,有關信貸資料服務機構可以保留富途證券向其提供之資料直至欠款最終清償之日起計五(5)年屆滿為止或該信貸資料機構接獲客戶解除破產通知之日起計五(5)年屆滿為止,以較早的日期為準。倘相關帳戶因全數還款而結束,及若在帳戶結束前五(5)年為沒有重大欠賬;則客戶有權指示富途證券向有關信貸資料服務機構提出請求將關於已結束帳戶之任何帳戶資科從其數據庫內刪除,但該指示須于帳戶結束後五(5)年內作出。
11. 在無限製本附件五之其他條款下,當客戶申請向其或向客戶作為其擔保人的另一名人士授予信貸安排(包括任何貸款、透支服務或任何類型的信貸),客戶向富途證券所提供的數據可能會被移交至信貸數據服務機構或債務追討機構(後者適用於拖欠債務的情況),但必須合乎根據不時修訂的《個人資料(私隱)條例》下所頒布的個人信貸資料實務守則的條文。
12. 就本附件五而言,若適用,帳戶數據可包括帳戶一般數據(即相關帳戶的一般細節,例如開戶日期、還款條款、客戶是借款人或擔保人、批核的貸款金額、還款條款)以及帳戶還款數據(例如已償還金額、貸款未清還余額,欠款數據報括拖欠金額及拖欠日數)。
13. 客戶同意,富途證券可以透過郵寄,不時向客戶傳送富途證券認為客戶可能有興趣並且與服務或產品相關的直接促銷材料。客戶同意,在法律許可的前提下,在此作出的同意即被視為滿足任何適用的私隱規則或規例的特定選擇接收之要求。雖然如此,客戶可以隨時透過書面方式,向富途證券要求不再接收有關直接促銷材料或訊息。除非客戶經已提出書寫要求,否則客戶將被視為願意接收任何該等資訊。
14. 客戶同意富途證券可隨時及不時透過電話、電子郵件或其他電子途徑傳送予客戶富途證券認為客戶可能有興趣之服務或產品訊息。盡管以上所述但客戶如不欲收取該等訊息,可將取消接收要求送致該等訊息內所指定之取消接收選項或以書面郵寄至本附件五第9條款所述之地址或富途證券日後所公布之其他地址。
附件六:電子交易服務
1. 釋義
1.1

在本協議中

1.1.1

「接達密碼」統指任何鎖碼檔案(若適用)、密碼及登入標識符;

1.1.2

「電子服務」是指由富途證券及/或代表富途證券所提供的互聯網或其他設施,以便客戶在香港或其他地方根據本協議條款發出執行交易的電子指示以及接收資訊及相關服務;

1.1.3

「鎖碼檔案」是指包含檔案密碼的計算機檔案、磁盤或其他裝置,可能需要與登入標識符及密碼一同使用以取用電子服務;

1.1.4

「登入標識符」是指與其他接達密碼一同使用以取用電子服務的個人身份標識符;以及

1.1.5

「密碼」是指客戶的個人密碼,與其他接達密碼一同使用以取用電子服務。.

1.2

本協議所定義之詞語與本附件六所述之意義相同,除非文意另有所指。本附件六所指的條款是指本附件六所包含的條款,除非文意另有所指。

1.3

如果本協議條款與本附件六條款之間有任何不一致,則以本附件六條款為準。

2. 富途證券可以行使其酌情權,按本協議條款向客戶提供電子服務,若富途證券向客戶提供電子服務,則本附件六條款得以適用。
3. 客戶確認經已收到接達密碼,並同意作為接達密碼的唯一用戶,並且不會向任何其他人士透露接達密碼;同時客戶同意獨自負責接達密碼的使用及保護以及所有透過電子服務利用接達密碼輸入的指示。
4. 富途證券可以隨時未經事先通知而禁止客戶使用電子服務。
5. 客戶須即時通知富途證券以下情況:
5.1

客戶經已透過電子服務發出指示,但在該指示發出的一個工作日內尚未收到有關收到該指示或其執行的正確確認(不論透過書面、電子或口頭方式);

5.2

客戶並未發出指示,但收到有關一交易通知(不論透過書面、電子或口頭方式);

5.3

客戶察覺其接達密碼明顯未經授權而被使用;

5.4

客戶在通過電子服務進入帳戶時遭到任何問題;或者

5.5

客戶遺失接達密碼,或者未能或無法給予對接達密碼足夠的保密。

6. 對于客戶使用電子服務及/或透過任何軟件或裝置進入及/或使用電子服務(無論是由富途證券或他人提供),而產生或有關之任何風險,包括(但不限於)傳送錯誤及未經授權使用的風險,客戶須自行承擔。客戶須以自負風險及費用的方式,提供並維持進入及使用電子服務所需的連接裝備(包括個人計算機、移動交易裝置以及調製解調器)以及服務。再者,客戶確認:電子服務或互聯網乃本質上不可信賴之傳訊媒介而該不可信賴性乃非富途證券所能控制的。客戶同意:直接或間接因該不可信賴性而產生的或直接或間接相關於該不可信賴性的任何損失、損害賠償、支出、費用、索求或責任(不論屬任何性質),富途證券將一概不會負責。
7. 電子服務所提供的數據僅供客戶自身使用,客戶不得轉售、或以其他方式容許他人取覽該等數據或者以任何方式處置該等數據。
8. 由富途證券或者代表富途證券所維持或提供的電子服務、富途證券網站以及其等里面所包含的軟件均屬于富途證券及/或其代理人、合作夥伴或承辦商所有。客戶承諾,不會對電子服務、富途證券網站或者其等里面包含的任何軟件進行幹預、更改、解體、逆改設計或者以其他方法作任何修改,亦不得試圖未經授權使用其等任何部份。客戶承諾,如果察覺其他人士從事或意圖從事上述行為,客戶須即時通知富途證券。
9. 客戶確認,富途證券在提供電子服務時可以使用其認為適合的認證科技。客戶確認,任何認證、核證或計算機安全科技均不可能做到完全可靠或安全,客戶同意承擔未經授權使用、黑客入侵或身份被盜等相關風險。
10. 客戶同意,盡管本文或任何其他文件另有規定,若從或經電子服務、富途證券上述網站、互聯網或其他電子媒介可取得的數據(包括任何文件但並不包括任何通知書)(不論該資料是否根據本協議而可取得)與富途證券記錄中的數據有任何不同之處,當以富途證券記錄中的數據為準(重大錯誤者除外),及對因互聯網或其他電子媒介(包括電子服務及富途證券上述網站)之不可靠性質或其他非富途證券可控制之原因而產生之責任,富途證券概不承責。
11. 客戶明白,富途證券所製定的互聯網交易政策列明電子服務運作政策及程序,該政策及程序可于電子服務網站取閱並就客戶使用電子服務而言,對客戶具約束力。該互聯網交易政策可能會被富途證券隨時及不時所改變,而每一個該等改變將于電子服務網站可取得之相關通知書內所載的生效日期當日起適用。如果本協議條款與互聯網交易政策之間存在任何矛盾,則以本協議條款為準。
12. 客戶確認,電子服務網站上的報價服務是由富途證券不時指定的第三方供貨商提供。客戶確認並同意,如果由於或相關報價服務的任何方面,包括客戶對有關服務之依賴,而導致客戶蒙受任何損失、開支、費用、損害賠償或者索償,富途證券概不負責。
13. 客戶明白,電子服務可提供第三方所公布之證券及/或其他投資資料但僅作為參考之用。由於市場波動以及數據傳送過程可能出現延誤,該等數據未必是相關證券或投資的即時市場報價。客戶明白,雖然富途證券相信該等資料乃可靠,但富途證券並無獨立的理據核實或反駁所提供的該等數據的準確性或完整性。客戶明白,所提供有關任何證券或投資的資料不會被推斷為富途證券之推介或保證。
14. 客戶明白,電子服務提供的資訊是以「現況」及「現有」的基礎提供,富途證券並不保證該等資訊及時、有序、準確、充分或完整。富途證券對于該等資訊並不作出任何明示或暗示之保證(包括但不限於可商售質量或對某特定用途的適用性之保證)。
15. 客戶明白,就第三方所發布的市場數據,提供該等數據的各個機構均主張擁有所有人權益。客戶亦明白到,任何一方均無擔保市場數據或任何其他市場資訊乃及時、有序、準確、充分或完整。如果由於富途證券或任何發布數據一方之任何疏忽作為,或者任何不可抗力事件,或者富途證券或任何發布數據一方不能合理控制之任何其他原因,而造成任何有關數據、數據或訊息或其傳送或交付出現偏差、錯誤、延誤或遺漏,或任何該等數據、訊息或數據不能履行或遭受幹擾,富途證券或任何發布資料一方均毋須負責。股票報價僅供客戶個人使用,客戶不得基于任何理由將該等數據提供予任何其他人士或實體。
16. 如果客戶在香港以外地方向富途證券發出任何指令,客戶同意確保並表明該指令之發出乃合乎其所在之有關司法管轄區下的任何適用法律,客戶進一步同意,客戶如有疑問,須諮詢有關司法管轄區的法律顧問以及其他專業人士。客戶接受,在香港以外發出指令,可能需要向有關權力機構支付稅項或費用,客戶亦同意支付該等適用稅項或費用。
17. 客戶同意,可以電子形式在或透過互聯網、電子服務及/或富途證券上述網站的任何部份,將任何檔(包括但不限於任何通知書)、數據、通知或通訊給予客戶或向客戶出示或跟客戶交換。任何如上述給予客戶或向客戶出示或跟客戶交換之檔(包括但不限於任何通知書)、數據、通知或通訊在發出之時將被視為已被客戶接獲。但所有以電子形式在或透過互聯網、電子服務及/或富途證券上述網站的任何部份向富途證券發出或交付的通知及通訊均于富途證券實際收訖當日才被視作已向其發出或交付。
附件七:美股融券協議
Appendix 7: U.S. Securities Lending Agreement

This U.S. Securities Lending Agreement (“Agreement”) is entered into by and between Futu Securities International (Hong Kong) Limited (“Futu”) and the Client.

1. Applicability.

From time to time the parties hereto may enter into transactions in which Futu (“Lender”) will lend to the Client (“Borrower”) certain Securities (as defined herein) against a transfer of Collateral (as defined herein). Each such transaction shall be referred to herein as a “Loan” and, unless otherwise agreed in writing, shall be governed by this Agreement, including any supplemental terms or conditions contained in an Annex or Schedule hereto and in any other annexes identified herein or therein as applicable hereunder. Capitalized terms not otherwise defined herein shall have the meanings provided in Section 25.

2. Loans of Securities.
2.1

Subject to the terms and conditions of this Agreement, Borrower or Lender may, from time to time, seek to initiate a transaction in which Lender will lend Securities to Borrower. Borrower and Lender shall agree on the terms of each Loan (which terms may be amended during the Loan), including the issuer of the Securities, the amount of Securities to be lent, the basis of compensation, the amount of Collateral to be transferred by Borrower, and any additional terms. Such agreement shall be confirmed (a) by a schedule and receipt listing the Loaned Securities provided by Borrower to Lender in accordance with Section 3.2, (b) through any system that compares Loans and in which Borrower and Lender are participants, or (c) in such other manner as may be agreed by Borrower and Lender in writing. Such confirmation (the “Confirmation”), together with the Agreement, shall constitute conclusive evidence of the terms agreed between Borrower and Lender with respect to the Loan to which the Confirmation relates, unless with respect to the Confirmation specific objection is made promptly after receipt thereof. In the event of any inconsistency between the terms of such Confirmation and this Agreement, this Agreement shall prevail unless each party has executed such Confirmation.

2.2

Notwithstanding any other provision in this Agreement regarding when a Loan commences, unless otherwise agreed, a Loan hereunder shall not occur until the Loaned Securities and the Collateral therefor have been transferred in accordance with Section 15.

3. Transfer of Loaned Securities.
3.1

Unless otherwise agreed, Lender shall transfer Loaned Securities to Borrower hereunder on or before the Cutoff Time on the date agreed to by Borrower and Lender for the commencement of the Loan.

3.2

Notwithstanding any other provision in this Agreement, the parties hereto agree that they intend the Loans hereunder to be loans of Securities. If, however, any Loan is deemed to be a loan of money by Borrower to Lender, then Borrower shall have, and Lender shall be deemed to have granted, a security interest in the Loaned Securities and the proceeds thereof.

4. Collateral.
4.1

Unless otherwise agreed, Borrower shall, prior to or concurrently with the transfer of the Loaned Securities to Borrower, but in no case later than the Close of Business on the day of such transfer, transfer to Lender Collateral with a Market Value at least equal to the Margin Percentage of the Market Value of the Loaned Securities.

4.2

Borrower shall be deemed to have transferred Collateral to Lender by crediting Lender’s account carried by Borrower with Collateral with a Market Value at least equal to the Margin Percentage of the Market Value of the Loaned Securities. The Collateral transferred by Borrower to Lender, as adjusted pursuant to Section 9, shall be security for Borrower’s obligations in respect of such Loan and for any other obligations of Borrower to Lender hereunder. Borrower hereby pledges with, assigns to, and grants Lender a continuing first priority security interest in, and a lien upon, the Collateral, which shall attach upon the transfer of the Loaned Securities by Lender to Borrower and which shall cease upon the transfer of the Loaned Securities by Borrower to Lender. Lender will be deemed to have transferred Loaned Securities to Borrower on the date Borrower treats such securities as having been borrowed pursuant to Exchange Act rule 15c3-3(b)(3) and therefore not subject to the general possession to control requirements of Exchange Act rule 15c3-3(b). Borrower will be deemed to have transferred Loaned Securities to Lender on the date Borrower treats such securities as customer securities subject to the general possession or control requirements of Exchange Act Rule 15c3-3(b), without giving effect to Exchange Act rule 15c3-3(b)(3), without regard to whether such securities are thereby returned to Lender or continue to be borrowed by Borrower pursuant to any hypothecation agreement between Lender and Borrower.

4.3

It is understood that Lender may use, lend or invest the Collateral, if such consists of cash, at its own risk, but that Lender shall, during the term of any Loan hereunder, segregate Collateral from all securities or other assets in its possession.

4.4

Except as otherwise provided herein, upon transfer to Lender of the Loaned Securities on the day a Loan is terminated pursuant to Section 6, Lender shall be obligated to transfer, and hereby authorizes Borrower to effect the transfer of, the Collateral (as adjusted pursuant to Section 9) to Borrower on such day or, if such day is not a day on which a transfer of such Collateral may be effected under Section 15, the next day on which such a transfer may be effected.

4.5

If Borrower transfers Collateral to Lender, as provided in Section 4.1, and Lender does not transfer the Loaned Securities to Borrower, Borrower shall have the absolute right to the return of the Collateral; and if Lender transfers Loaned Securities to Borrower and Borrower does not transfer Collateral to Lender as provided in Section 4.1, Lender shall have the absolute right to the return of the Loaned Securities.

4.6

Borrower may, upon reasonable notice to Lender (taking into account all relevant factors, including industry practice, the type of Collateral to be substituted, and the applicable method of transfer), substitute Collateral for Collateral securing any Loan or Loans; provided, however, that such substituted Collateral shall (a) consist only of cash, securities or other property that Borrower and Lender agreed would be acceptable Collateral prior to the Loan or Loans and (b) have a Market Value such that the aggregate Market Value of such substituted Collateral, together with all other Collateral for Loans in which the party substituting such Collateral is acting as Borrower, shall equal or exceed the agreed upon Margin Percentage of the Market Value of the Loaned Securities.

4.7

In the event Borrower and Lender agree to a Loan of Securities collateralized by a Letter of Credit, in order to enable the Issuing Bank to identify Lender and issue the Letter of Credit in favor of Lender, Lender hereby agrees that Borrower may provide information in its possession concerning Lender’s identity to the Issuing Bank. Prior to the expiration of any letter of credit supporting Borrower’s obligations hereunder, Borrower shall, no later than the Extension Deadline, (a) obtain an extension of the expiration of such letter of credit, (b) replace such letter of credit by providing Lender with a substitute letter of credit in an amount at least equal to the amount of the letter of credit for which it is substituted, or (c) transfer such other Collateral to Lender as may be acceptable to Lender.

5. Fees for Loan.
5.1

Unless otherwise agreed, Borrower agrees to pay Lender a loan fee (a “Loan Fee”), computed daily on each Loan.

5.2

Unless otherwise agreed, any Loan Fee payable hereunder shall be payable within fifteen (15) Business Days following the last Business Day of the calendar month in which such fee was incurred.

6. Termination of the Loan.
6.1

Unless otherwise agreed, either party may terminate a Loan on a termination date established by notice given to the other party prior to the Close of Business on a Business Day. Unless an earlier date is agreed by the Parties, the termination date established by a termination notice shall be a date no earlier than the standard settlement date that would apply to a purchase or sale of the Loaned Securities (in the case of a notice given by Lender) or the non-cash Collateral securing the Loan (in the case of a notice given by Borrower) entered into at the time of such notice, which date shall, unless Borrower and Lender agree to the contrary, be (i) in the case of Government Securities, the next Business Day following such notice and (ii) in the case of all other Securities, the third Business Day following such notice.

6.2

Notwithstanding section 6.2 and unless otherwise agreed, Borrower may terminate a Loan on any Business Day, effective as of such Business Day, by transferring the Loaned Securities to Lender on such Business Day. Borrower will be deemed to have transferred Loaned Securities by the end of a Business Day if it treats such securities as customer securities subject to the general possession or control requirements of Exchange Act Rule 15c3-3(b), without giving effect to Exchange Act rule 15c3-3(b)(3), without regard to whether such securities are thereby returned to Lender or may continue to be borrowed by Borrower pursuant to any hypothecation agreement between Lender and Borrower.

6.3

The execution by Borrower of an order to sell the Loaned Securities by Lender shall constitute notice of termination by Lender to Borrower. The termination date established by such a sale of the Loaned Securities shall be the settlement date of such sale of the Loaned Securities or any earlier date on which Borrower is deemed to have transferred Loaned Securities to Lender under section 6.3.

6.4

Unless otherwise agreed, Borrower shall, on or before the Cutoff Time on the termination date of a Loan, transfer the Loaned Securities to Lender; provided, however, that upon such transfer by Borrower, Lender shall transfer the Collateral (as adjusted pursuant to Section 9) to Borrower in accordance with Section 4.4.

7. Rights in Respect of Loaned Securities and Collateral.

Except as set forth in Sections 8.1 and 8.2 and as otherwise agreed by Borrower and Lender, until Loaned Securities are required to be redelivered to Lender upon termination of a Loan hereunder, Borrower shall have all of the incidents of ownership of the Loaned Securities, including the right to transfer the Loaned Securities to others. Lender hereby waives the right to vote, or to provide any consent or to take any similar action with respect to, the Loaned Securities in the event that the record date or deadline for such vote, consent or other action falls during the term of the Loan.

8. Distributions.
8.1

Lender shall be entitled to receive all Distributions made on or in respect of the Loaned Securities which are not otherwise received by Lender, to the full extent it would be so entitled if the Loaned Securities had not been lent to Borrower.

8.2

Any cash Distributions made on or in respect of the Loaned Securities, which Lender is entitled to receive pursuant to Section 8.1, shall be paid by the transfer of cash to Lender by Borrower, on the date any such Distribution is paid, in an amount equal to such cash Distribution, so long as Lender is not in Default at the time of such payment. Non-cash Distributions that Lender is entitled to receive pursuant to Section 8.1 shall be added to the Loaned Securities on the date of distribution and shall be considered such for all purposes, except that if the Loan has terminated, Borrower shall forthwith transfer the same to Lender.

8.3

Borrower shall be entitled to receive all Distributions made on or in respect of non-cash Collateral which are not otherwise received by Borrower, to the full extent it would be so entitled if the Collateral had not been transferred to Lender.

8.4

Any cash Distributions made on or in respect of such Collateral, which Borrower is entitled to receive pursuant to Section 8.3, shall be paid by the transfer of cash to Borrower by Lender, on the date any such Distribution is paid, in an amount equal to such cash Distribution, so long as Borrower is not in Default at the time of such payment. Non-cash Distributions that Borrower is entitled to receive pursuant to Section 8.3 shall be added to the Collateral on the date of distribution and shall be considered such for all purposes, except that if each Loan secured by such Collateral has terminated, Lender shall forthwith transfer the same to Borrower.

8.5

Unless otherwise agreed by the parties:

8.5.1

If (i) Borrower is required to make a payment (a “Borrower Payment”) with respect to cash Distributions on Loaned Securities under Sections 8.1 and 8.2 (“Securities Distributions”), or (ii) Lender is required to make a payment (a “Lender Payment”) with respect to cash Distributions on Collateral under Sections 8.3 and 8.4 (“Collateral Distributions”), and (iii) Borrower or Lender, as the case may be (“Payor”), shall be required by law to collect any withholding or other tax, duty, fee, levy or charge required to be deducted or withheld from such Borrower Payment or Lender Payment (“Tax”), then Payor shall (subject to subsections (b) and (c) below), pay such additional amounts as may be necessary in order that the net amount of the Borrower Payment or Lender Payment received by the Lender or Borrower, as the case may be (“Payee”), after payment of such Tax equals the net amount of the Securities Distribution or Collateral Distribution that would have been received if such Securities Distribution or Collateral Distribution had been paid directly to the Payee.

8.5.2

No additional amounts shall be payable to a Payee under subsection 8.5.1 above to the extent that Tax would have been imposed on a Securities Distribution or Collateral Distribution paid directly to the Payee.

8.5.3

No additional amounts shall be payable to a Payee under subsection 8.5.1 above to the extent that such Payee is entitled to an exemption from, or reduction in the rate of, Tax on a Borrower Payment or Lender Payment subject to the provision of a certificate or other documentation, but has failed timely to provide such certificate or other documentation.

8.5.4

Each party hereto shall be deemed to represent that, as of the commencement of any Loan hereunder, no Tax would be imposed on any cash Distribution paid to it with respect to (i) Loaned Securities subject to a Loan in which it is acting as Lender or (ii) Collateral for any Loan in which it is acting as Borrower, unless such party has given notice to the contrary to the other party hereto (which notice shall specify the rate at which such Tax would be imposed). Each party agrees to notify the other of any change that occurs during the term of a Loan in the rate of any Tax that would be imposed on any such cash Distributions payable to it.

8.6

To the extent that, under the provisions of Sections 8.1 through 8.5, (a) a transfer of cash or other property by Borrower would give rise to a Margin Excess or (b) a transfer of cash or other property by Lender would give rise to a Margin Deficit, Borrower or Lender (as the case may be) shall not be obligated to make such transfer of cash or other property in accordance with such Sections, but shall in lieu of such transfer immediately credit the amounts that would have been transferable under such Sections to the account of Lender or Borrower (as the case may be).

9. Mark to Market.
9.1

If at any time the aggregate Market Value of all Collateral for Loans by Lender shall be less than the Margin Percentage of the Market Value of all the outstanding Loaned Securities subject to such Loans (a “Margin Deficit”), Borrower shall transfer additional Collateral no later than the Close of Business on the next Business Day so that the Market Value of such additional Collateral, when added to the Market Value of all other Collateral for such Loans, shall equal or exceed the Margin Percentage of the Market Value of the Loaned Securities.

9.2

If at any time the Market Value of all Collateral for Loans to Borrower shall be greater than the Margin Percentage of the Market Value of all the outstanding Loaned Securities subject to such Loans (a “Margin Excess”), Lender hereby authorizes Borrower to transfer to Borrower such amount of the Collateral selected by Borrower so that the Market Value of the Collateral for such Loans, after deduction of such amounts, shall thereupon not exceed the Margin Percentage of the Market Value of the Loaned Securities.

9.3

Borrower and Lender may agree, with respect to one or more Loans hereunder, to mark the values to market pursuant to Sections 9.1 and 9.2 by separately valuing the Loaned Securities lent and the Collateral given in respect thereof on a Loan-by-Loan basis.

9.4

Borrower and Lender may agree, with respect to any or all Loans hereunder, that the respective rights of Lender and Borrower under Sections 9.1 and 9.2 may be exercised only where a Margin Excess or Margin Deficit exceeds a specified dollar amount or a specified percentage of the Market Value of the Loaned Securities under such Loans (which amount or percentage shall be agreed to by Borrower and Lender prior to entering into any such Loans).

10. Representations.

The parties to this Agreement hereby make the following representations and warranties, which shall continue during the term of any Loan hereunder:

10.1

Each party hereto represents and warrants that (a) it has the power to execute and deliver this Agreement, to enter into the Loans contemplated hereby and to perform its obligations hereunder, (b) it has taken all necessary action to authorize such execution, delivery and performance, and (c) this Agreement constitutes a legal, valid and binding obligation enforceable against it in accordance with its terms.

10.2

Each party hereto represents and warrants that it has not relied on the other for any tax or accounting advice concerning this Agreement and that it has made its own determination as to the tax and accounting treatment of any Loan and any dividends, remuneration or other funds received hereunder.

10.3

Each party hereto represents and warrants that it is acting for its own account unless it expressly specifies otherwise in writing and complies with Section 11.1(b).

10.4

To the extent applicable, Borrower represents and warrants that it has, or will have at the time of transfer of any Collateral, the right to grant a first priority security interest therein subject to the terms and conditions hereof.

10.5

Borrower represents and warrants that it (or the person to whom it relends the Loaned Securities) is borrowing or will borrow Loaned Securities that are Equity Securities for the purpose of making delivery of such Loaned Securities in the case of short sales, failure to receive securities required to be delivered, or as otherwise permitted pursuant to Regulation T as in effect from time to time.

10.6

Borrower and Lender may agree, as provided in Section 24.2, that Borrower shall not be deemed to have made the representation or warranty in subsection (a) with respect to any Loan. By entering into any such agreement, Lender shall be deemed to have represented and warranted to Borrower (which representation and warranty shall be deemed to be repeated on each day during the term of the Loan) that Lender is either (i) an “exempted borrower” within the meaning of Regulation T or (ii) a member of a national securities exchange or a broker or dealer registered with the U.S. Securities and Exchange Commission that is entering into such Loan to finance its activities as a market maker or an underwriter.

10.7

Lender represents and warrants that it has, or will have at the time of transfer of any Loaned Securities, the right to transfer the Loaned Securities subject to the terms and conditions hereof.

11. Covenants.
11.1

Each party agrees either (a) to be liable as principal with respect to its obligations hereunder or (b) to execute and comply fully with the provisions of Annex I (the terms and conditions of which Annex are incorporated herein and made a part hereof).

12. Events of Default.

All Loans hereunder may, at the option of the non-defaulting party (which option shall be deemed to have been exercised immediately upon the occurrence of an Act of Insolvency), be terminated immediately upon the occurrence of any one or more of the following events (individually, a “Default”):

12.1

if any Loaned Securities shall not be transferred to Lender upon termination of the Loan as required by Section 6;

12.2

if any Collateral shall not be transferred to Borrower upon termination of the Loan as required by Sections 4.4 and 6;

12.3

if either party shall fail to transfer Collateral as required by Section 9;

12.4

if either party (a) shall fail to transfer to the other party amounts in respect of Distributions required to be transferred by Section 8, (b) shall have been notified of such failure by the other party prior to the Close of Business on any day, and (c) shall not have cured such failure by the Cutoff Time on the next day after such Close of Business on which a transfer of cash may be effected in accordance with Section 15;

12.5

if any representation made by either party in respect of this Agreement or any Loan or Loans hereunder shall be incorrect or untrue in any material respect during the term of any Loan hereunder;

12.6

if either party notifies the other of its inability to or its intention not to perform its obligations hereunder or otherwise disaffirms, rejects or repudiates any of its obligations hereunder; or

12.7

if either party (a) shall fail to perform any material obligation under this Agreement not specifically set forth in clauses 12.1 through 12.7, above, including but not limited to the payment of fees as required by Section 5, and the payment of transfer taxes as required by Section 14, (b) shall have been notified of such failure by the other party prior to the Close of Business on any day, and (c) shall not have cured such failure by the Cutoff Time on the next day after such Close of Business on which a transfer of cash may be effected in accordance with Section 15.

The non-defaulting party shall (except upon the occurrence of an Act of Insolvency) give notice as promptly as practicable to the defaulting party of the exercise of its option to terminate all Loans hereunder pursuant to this Section 12.

13. Remedies.
13.1

Upon the occurrence of a Default under Section 12 entitling Lender to terminate all Loans hereunder, Lender shall have the right, in addition to any other remedies provided herein, (a) to purchase a like amount of Loaned Securities (“Replacement Securities”) in the principal market for such Loaned Securities in a commercially reasonable manner, (b) to sell any Collateral in the principal market for such Collateral in a commercially reasonable manner and (c) to apply and set off the Collateral and any proceeds thereof (including any amounts drawn under a letter of credit supporting any Loan) against the payment of the purchase price for such Replacement Securities and any amounts due to Lender under Sections 5, 8, 14 and 16. In the event that Lender shall exercise such rights, Borrower’s obligation to return a like amount of the Loaned Securities shall terminate. Lender may similarly apply the Collateral and any proceeds thereof to any other obligation of Borrower under this Agreement, including Borrower’s obligations with respect to Distributions paid to Borrower (and not forwarded to Lender) in respect of Loaned Securities. In the event that (i) the purchase price of Replacement Securities (plus all other amounts, if any, due to Lender hereunder) exceeds (ii) the amount of the Collateral, Borrower shall be liable to Lender for the amount of such excess together with interest thereon at a rate equal to LIBOR, the Federal Funds Rate or such other rate as may be specified by the Lender from time to time, in each case as such rate fluctuates from day to day, from the date of such purchase until the date of payment of such excess. As security for Borrower’s obligation to pay such excess, Lender shall have, and Borrower hereby grants, a security interest in any property of Borrower then held by or for Lender and a right of setoff with respect to such property and any other amount payable by Lender to Borrower. The purchase price of Replacement Securities purchased under this Section 13.1 shall include, and the proceeds of any sale of Collateral shall be determined after deduction of, broker’s fees and commissions and all other reasonable costs, fees and expenses related to such purchase or sale (as the case may be). In the event Lender exercises its rights under this Section 13.1, Lender may elect in its sole discretion, in lieu of purchasing all or a portion of the Replacement Securities or selling all or a portion of the Collateral, to be deemed to have made, respectively, such purchase of Replacement Securities or sale of Collateral for an amount equal to the price therefor on the date of such exercise obtained from a generally recognized source or the last bid quotation from such a source at the most recent Close of Trading. Subject to Section 18, upon the satisfaction of all obligations hereunder, any remaining Collateral shall be returned to Borrower.

13.2

Upon the occurrence of a Default under Section 12 entitling Borrower to terminate all Loans hereunder, Borrower shall have the right, in addition to any other remedies provided herein, (a) to purchase a like amount of Collateral (“Replacement Collateral”) in the principal market for such Collateral in a commercially reasonable manner, (b) to sell a like amount of the Loaned Securities in the principal market for such Loaned Securities in a commercially reasonable manner and (c) to apply and set off the Loaned Securities and any proceeds thereof against (i) the payment of the purchase price for such Replacement Collateral, (ii) Lender’s obligation to return any cash or other Collateral, and (iii) any amounts due to Borrower under Sections 5, 8 and 16. In such event, Borrower may treat the Loaned Securities as its own and Lender’s obligation to return a like amount of the Collateral shall terminate; provided, however, that Lender shall immediately return any letters of credit supporting any Loan upon the exercise or deemed exercise by Borrower of its termination rights under Section 12. Borrower may similarly apply the Loaned Securities and any proceeds thereof to any other obligation of Lender under this Agreement, including Lender’s obligations with respect to Distributions paid to Lender (and not forwarded to Borrower) in respect of Collateral. In the event that (i) the sales price received from such Loaned Securities is less than (ii) the purchase price of Replacement Collateral (plus the amount of any cash or other Collateral not replaced by Borrower and all other amounts, if any, due to Borrower hereunder), Lender shall be liable to Borrower for the amount of any such deficiency, together with interest on such amounts at a rate equal to LIBOR, the Federal Funds Rate or such other rate as may be specified by the Lender from time to time, in each case as such rate fluctuates from day to day, from the date of such sale until the date of payment of such deficiency. As security for Lender’s obligation to pay such deficiency, Borrower shall have, and Lender hereby grants, a security interest in any property of Lender then held by or for Borrower and a right of setoff with respect to such property and any other amount payable by Borrower to Lender. The purchase price of any Replacement Collateral purchased under this Section 13.2 shall include, and the proceeds of any sale of Loaned Securities shall be determined after deduction of, broker’s fees and commissions and all other reasonable costs, fees and expenses related to such purchase or sale (as the case may be). In the event Borrower exercises its rights under this Section 13.2, Borrower may elect in its sole discretion, in lieu of purchasing all or a portion of the Replacement Collateral or selling all or a portion of the Loaned Securities, to be deemed to have made, respectively, such purchase of Replacement Collateral or sale of Loaned Securities for an amount equal to the price therefor on the date of such exercise obtained from a generally recognized source or the last bid quotation from such a source at the most recent Close of Trading. Subject to Section 18, upon the satisfaction of all Lender’s obligations hereunder, any remaining Loaned Securities (or remaining cash proceeds thereof) shall be returned to Lender.

13.3

Unless otherwise agreed, the parties acknowledge and agree that (a) the Loaned Securities and any Collateral consisting of Securities are of a type traded in a recognized market, (b) in the absence of a generally recognized source for prices or bid or offer quotations for any security, the non-defaulting party may establish the source therefor in its sole discretion, and (c) all prices and bid and offer quotations shall be increased to include accrued interest to the extent not already included therein (except to the extent contrary to market practice with respect to the relevant Securities).

13.4

In addition to its rights hereunder, the non-defaulting party shall have any rights otherwise available to it under any other agreement or applicable law. In addition to any other remedies to which a non-defaulting party may be entitled under the Agreement, the defaulting party shall, with respect to an individual Loan or with respect to a class of Loans, be liable to the non-defaulting party for (a) the amount of all reasonable legal or other expenses incurred by the non-defaulting party in connection with or as a result of a Default, (b) damages in an amount equal to the cost (including all fees, expenses and commissions) of entering into replacement transactions and entering into or terminating hedge transactions in connection with or as a result of a Default, and (c) any other loss, damage, cost or expense directly arising or resulting from the occurrence of a Default in respect of a Loan.

14. Transfer Taxes.

All transfer taxes with respect to the transfer of the Loaned Securities by Lender to Borrower and by Borrower to Lender upon termination of the Loan and with respect to the transfer of Collateral by Borrower to Lender and by Lender to Borrower upon termination of the Loan or pursuant to Section 4.6 or Section 9 shall be paid by Borrower.

15. Transfers.
15.1

All transfers by either Borrower or Lender of Loaned Securities or Collateral consisting of “financial assets” (within the meaning of the UCC) hereunder shall be by (a) in the case of certificated securities, physical delivery of certificates representing such securities together with duly executed stock and bond transfer powers, as the case may be, with signatures guaranteed by a bank or a member firm of the New York Stock Exchange, Inc., (b) registration of an uncertificated security in the transferee’s name by the issuer of such uncertificated security, (c) the crediting by a Clearing Organization of such financial assets to the transferee’s “securities account” (within the meaning of the UCC) maintained with such Clearing Organization, or (d) such other means as Borrower and Lender may agree.

15.2

All transfers of cash hereunder shall be by (a) wire transfer in immediately available, freely transferable funds or (b) such other means as Borrower and Lender may agree.

15.3

All transfers of letters of credit from Borrower to Lender shall be made by physical delivery to Lender of an irrevocable letter of credit issued by a “bank” as defined in Section 3(a)(6)(A)-(C) of the Exchange Act. Transfers of letters of credit from Lender to Borrower shall be made by causing such letters of credit to be returned or by causing the amount of such letters of credit to be reduced to the amount required after such transfer.

15.4

A transfer of Securities, cash or letters of credit may be effected under this Section 15 on any day except (a) a day on which the transferee is closed for business at its primary place of business or (b) a day on which a Clearing Organization or wire transfer system is closed, if the facilities of such Clearing Organization or wire transfer system are required to effect such transfer.

15.5

For the avoidance of doubt, the parties agree and acknowledge that the term “securities,” as used herein (except in this Section 15), shall include any “security entitlements” with respect to such securities (within the meaning of the UCC). In every transfer of “financial assets” (within the meaning of the UCC) hereunder, the transferor shall take all steps necessary (a) to effect a delivery to the transferee under Section 8-301 of the UCC, or to cause the creation of a security entitlement in favor of the transferee under Section 8-501 of the UCC, (b) to enable the transferee to obtain “control” (within the meaning of Section 8-106 of the UCC), and (c) to provide the transferee with comparable rights under any applicable foreign law or regulation.

16. Contractual Currency.
16.1

Borrower and Lender agree that (a) any payment in respect of a Distribution under Section 8 shall be made in the currency in which the underlying Distribution of cash was made, (b) any return of cash shall be made in the currency in which the underlying transfer of cash was made, and (c) any other payment of cash in connection with a Loan under this Agreement shall be in the currency agreed upon by Borrower and Lender in connection with such Loan (the currency established under clause (a), (b) or (c) hereinafter referred to as the “Contractual Currency”). Notwithstanding the foregoing, the payee of any such payment may, at its option, accept tender thereof in any other currency; provided, however, that, to the extent permitted by applicable law, the obligation of the payor to make such payment will be discharged only to the extent of the amount of Contractual Currency that such payee may, consistent with normal banking procedures, purchase with such other currency (after deduction of any premium and costs of exchange) on the banking day next succeeding its receipt of such currency.

16.2

If for any reason the amount in the Contractual Currency received under Section 16.1, including amounts received after conversion of any recovery under any judgment or order expressed in a currency other than the Contractual Currency, falls short of the amount in the Contractual Currency due in respect of this Agreement, the party required to make the payment will (unless a Default has occurred and such party is the non-defaulting party) as a separate and independent obligation and to the extent permitted by applicable law, immediately pay such additional amount in the Contractual Currency as may be necessary to compensate for the shortfall.

16.3

If for any reason the amount in the Contractual Currency received under Section 16.1 exceeds the amount in the Contractual Currency due in respect of this Agreement, then the party receiving the payment will (unless a Default has occurred and such party is the non-defaulting party) refund promptly the amount of such excess.

17. ERISA.

Lender shall, if any of the Securities transferred to the Borrower hereunder for any Loan have been or shall be obtained, directly or indirectly, from or using the assets of any Plan, so notify Borrower in writing upon the execution of this Agreement or upon initiation of such Loan under Section 2.1. If Lender so notifies Borrower, then Borrower and Lender shall conduct the Loan in accordance with the terms and conditions of Department of Labor Prohibited Transaction Exemption 81-6 (46 Fed. Reg. 7527, Jan. 23, 1981; as amended, 52 Fed. Reg. 18754, May 19, 1987), or any successor thereto (unless Borrower and Lender have agreed prior to entering into a Loan that such Loan will be conducted in reliance on another exemption, or without relying on any exemption, from the prohibited transaction provisions of Section 406 of the Employee Retirement Income Security Act of 1974, as amended, and Section 4975 of the Internal Revenue Code of 1986, as amended). Without limiting the foregoing and notwithstanding any other provision of this Agreement, if the Loan will be conducted in accordance with Prohibited Transaction Exemption 81-6, then:

17.1

Borrower represents and warrants to Lender that it is either (a) a bank subject to federal or state supervision, (b) a broker-dealer registered under the Exchange Act or (c) exempt from registration under Section 15(a)(1) of the Exchange Act as a dealer in Government Securities.

17.2

Borrower represents and warrants that, during the term of any Loan hereunder, neither Borrower nor any affiliate of Borrower has any discretionary authority or control with respect to the investment of the assets of the Plan involved in the Loan or renders investment advice (within the meaning of 29 C.F.R. Section 2510.3-21(c)) with respect to the assets of the Plan involved in the Loan. Lender agrees that, prior to or at the commencement of any Loan hereunder, it will communicate to Borrower information regarding the Plan sufficient to identify to Borrower any person or persons that have discretionary authority or control with respect to the investment of the assets of the Plan involved in the Loan or that render investment advice (as defined in the preceding sentence) with respect to the assets of the Plan involved in the Loan. In the event Lender fails to communicate and keep current during the term of any Loan such information, Lender rather than Borrower shall be deemed to have made the representation and warranty in the first sentence of this Section 17.2.

17.3

Borrower shall mark to market daily each Loan hereunder pursuant to Section 9.1 as is required if Lender is a Customer.

17.4

Borrower and Lender agree that:

17.4.1

the term “Collateral” shall mean cash, securities issued or guaranteed by the United States government or its agencies or instrumentalities, or irrevocable bank letters of credit issued by a person other than Borrower or an affiliate thereof;

17.4.2

prior to the making of any Loans hereunder, Borrower shall provide Lender with (i) the most recent available audited statement of Borrower’s financial condition and (ii) the most recent available unaudited statement of Borrower’s financial condition (if more recent than the most recent audited statement), and each Loan made hereunder shall be deemed a representation by Borrower that there has been no material adverse change in Borrower’s financial condition subsequent to the date of the latest financial statements or information furnished in accordance herewith;

17.4.3

the Loan may be terminated by Lender at any time, whereupon Borrower shall deliver the Loaned Securities to Lender within the lesser of (i) the customary delivery period for such Loaned Securities, (ii) five Business Days, and (iii) the time negotiated for such delivery between Borrower and Lender; provided, however, that Borrower and Lender may agree to a longer period only if permitted by Prohibited Transaction Exemption 81-6; and

17.4.4

the Collateral transferred shall be security only for obligations of Borrower to the Plan with respect to Loans, and shall not be security for any obligation of Borrower to any agent or affiliate of the Plan.

18. Single Agreement.

Borrower and Lender acknowledge that, and have entered into this Agreement in reliance on the fact that, all Loans hereunder constitute a single business and contractual relationship and have been entered into in consideration of each other. Accordingly, Borrower and Lender hereby agree that payments, deliveries and other transfers made by either of them in respect of any Loan shall be deemed to have been made in consideration of payments, deliveries and other transfers in respect of any other Loan hereunder, and the obligations to make any such payments, deliveries and other transfers may be applied against each other and netted. In addition, Borrower and Lender acknowledge that, and have entered into this Agreement in reliance on the fact that, all Loans hereunder have been entered into in consideration of each other. Accordingly, Borrower and Lender hereby agree that (a) each shall perform all of its obligations in respect of each Loan hereunder, and that a default in the performance of any such obligation by Borrower or by Lender (the “Defaulting Party”) in any Loan hereunder shall constitute a default by the Defaulting Party under all such Loans hereunder, and (b) the non-defaulting party shall be entitled to set off claims and apply property held by it in respect of any Loan hereunder against obligations owing to it in respect of any other Loan with the Defaulting Party.

19. Applicable Law

This Agreement shall be governed and construed in accordance with the laws of the state of New York without giving effect to the conflict of law principles thereof.

20. Waiver.

The failure of a party to this Agreement to insist upon strict adherence to any term of this Agreement on any occasion shall not be considered a waiver or deprive that party of the right thereafter to insist upon strict adherence to that term or any other term of this Agreement. All waivers in respect of a Default must be in writing.

21. Survival of Remedies.

All remedies hereunder and all obligations with respect to any Loan shall survive the termination of the relevant Loan, return of Loaned Securities or Collateral and termination of this Agreement.

22. Notices and Other Communications.

Any and all notices, statements, demands or other communications hereunder may be given by Futu to the Client by telephone, mail, facsimile, e-mail, electronic message, telegraph, messenger or otherwise at the phone and facsimile numbers provided by the Client and maintained by Futu in its books and records for such Client. Any notice, statement, demand or other communication hereunder may be given by the Client to Futu in writing electronically. Any notice, statement, demand or other communication hereunder will be deemed effective on the day and at the time on which it is received ot, if not received, on the day and at the time on which its delivery was in good faith attempted; provided, however, that any notice by a party to the other party by telephone shall be deemed effective on if (a) such notice is followed by written confirmation thereof and (b) at least one of the other means of providing notice that are specifically listed above has previously been attempted in good faith by the notifying party.

23. Mandatory Arbitration.

The parties hereby agree that any dispute, controversy or claim between the parties arising out of this Agreement or any loan hereunder shall be subject to the mandatory arbitration provision contained in any customer account or similar agreement entered into between such parties.

24. Miscellaneous.
24.1

Except as specified in Section 1 or as otherwise agreed by the parties, this Agreement supersedes any other agreement between the parties hereto concerning loans of Securities between Borrower and Lender. This Agreement shall not be assigned by either party without the prior written consent of the other party and any attempted assignment without such consent shall be null and void. Subject to the foregoing, this Agreement shall be binding upon and shall inure to the benefit of Borrower and Lender and their respective heirs, representatives, successors and assigns. This Agreement may be terminated by either party upon notice to the other, subject only to fulfillment of any obligations then outstanding. This Agreement shall not be modified, except by an instrument in writing signed by the party against whom enforcement is sought. The parties hereto acknowledge and agree that, in connection with this Agreement and each Loan hereunder, time is of the essence. Each provision and agreement herein shall be treated as separate and independent from any other provision herein and shall be enforceable notwithstanding the unenforceability of any such other provision or agreement.

24.2

Any agreement between Borrower and Lender pursuant to Section 10.5(b) or Section 25.37 shall be made (a) in writing, (b) orally, if confirmed promptly in writing or through any system that compares Loans and in which Borrower and Lender are participants, or (c) in such other manner as may be agreed by Borrower and Lender in writing.

25. Definitions.

For the purposes hereof:

25.1

“Act of Insolvency” shall mean, with respect to any party, (a) the commencement by such party as debtor of any case or proceeding under any bankruptcy, insolvency, reorganization, liquidation, moratorium, dissolution, delinquency or similar law, or such party’s seeking the appointment or election of a receiver, conservator, trustee, custodian or similar official for such party or any substantial part of its property, or the convening of any meeting of creditors for purposes of commencing any such case or proceeding or seeking such an appointment or election, (b) the commencement of any such case or proceeding against such party, or another seeking such an appointment or election, or the filing against a party of an application for a protective decree under the provisions of the Securities Investor Protection Act of 1970, which (i) is consented to or not timely contested by such party, (ii) results in the entry of an order for relief, such an appointment or election, the issuance of such a protective decree or the entry of an order having a similar effect, or (iii) is not dismissed within 15 days, (c) the making by such party of a general assignment for the benefit of creditors, or (d) the admission in writing by such party of such party’s inability to pay such party’s debts as they become due.

25.2

“Bankruptcy Code” shall have the meaning assigned in Section 26.1

25.3

“Borrower” shall have the meaning assigned in Section 1.

25.4

“Borrower Payment” shall have the meaning assigned in Section 8.5(a).

25.5

“Broker-Dealer” shall mean any person that is a broker (including a municipal securities broker), dealer, municipal securities dealer, government securities broker or government securities dealer as defined in the Exchange Act, regardless of whether the activities of such person are conducted in the United States or otherwise require such person to register with the U.S. Securities and Exchange Commission or other regulatory body.

25.6

“Business Day” shall mean, with respect to any Loan hereunder, a day on which regular trading occurs in the principal market for the Loaned Securities subject to such Loan, provided, however, that for purposes of determining the Market Value of any Securities hereunder, such term shall mean a day on which regular trading occurs in the principal market for the Securities whose value is being determined. Notwithstanding the foregoing, (a) for purposes of Section 9, “Business Day” shall mean any day on which regular trading occurs in the principal market for any Loaned Securities or for any Collateral consisting of Securities under any outstanding Loan hereunder and “next Business Day” shall mean the next day on which a transfer of Collateral may be effected in accordance with Section 15, and (b) in no event shall a Saturday or Sunday be considered a Business Day.

25.7

“Cash Collateral Fee” shall have the meaning assigned in Section 5.1.

25.8

“Clearing Organization” shall mean (a) The Depository Trust Company, or, if agreed to by Borrower and Lender, such other “securities intermediary” (within the meaning of the UCC) at which Borrower (or Borrower’s agent) and Lender (or Lender’s agent) maintain accounts, or (b) a Federal Reserve Bank, to the extent that it maintains a book-entry system.

25.9

“Close of Business” shall mean 4:00 p.m. (New York City time)

25.10

“Close of Trading” shall mean, with respect to any Security, the end of the primary trading session established by the principal market for such Security on a Business Day, unless otherwise agreed by the parties.

25.11

“Collateral” shall mean, whether now owned or hereafter acquired and to the extent permitted by applicable law, (a) any property which Borrower and Lender agree prior to the Loan shall be acceptable collateral and which is transferred to Lender pursuant to Sections 4 or 9 (including as collateral, for definitional purposes, any letters of credit mutually acceptable to Lender and Borrower), (b) any property substituted therefor pursuant to Section 4.5, (c) all accounts in which such property is deposited and all securities and the like in which any cash collateral is invested or reinvested, and (d) any proceeds of any of the foregoing; provided, however, that if Lender is a Customer, “Collateral” shall (subject to Section 17.4(a), if applicable) be limited to cash, U.S. Treasury bills and notes, an irrevocable letter of credit issued by a “bank” (as defined in Section 3(a)(6)(A)-(C) of the Exchange Act), and any other property permitted to serve as collateral securing a loan of securities under Rule 15c3-3 under the Exchange Act or any comparable regulation of the Secretary of the Treasury under Section 15C of the Exchange Act (to the extent that Borrower is subject to such Rule or comparable regulation) pursuant to exemptive, interpretive or no-action relief or otherwise. If any new or different Security shall be exchanged for any Collateral by recapitalization, merger, consolidation or other corporate action, such new or different Security shall, effective upon such exchange, be deemed to become Collateral in substitution for the former Collateral for which such exchange is made. For purposes of return of Collateral by Lender or purchase or sale of Securities pursuant to Section 13, such term shall include Securities of the same issuer, class and quantity as the Collateral initially transferred by Borrower to Lender, as adjusted pursuant to the preceding sentence.

25.12

“Collateral Distributions” shall have the meaning assigned in Section 8.5(a).

25.13

“Confirmation” shall have the meaning assigned in Section 2.1.

25.14

“Contractual Currency” shall have the meaning assigned in Section 16.1.

25.15

“Customer” shall mean any person that is a customer of Borrower under Rule 15c3-3 under the Exchange Act or any comparable regulation of the Secretary of the Treasury under Section 15C of the Exchange Act (to the extent that Borrower is subject to such Rule or comparable regulation).

25.16

“Cutoff Time” shall mean a time on a Business Day by which a transfer of cash, securities or other property must be made by Borrower or Lender to the other, as shall be agreed by Borrower and Lender orally or in writing or, in the absence of any such agreement, as shall be determined in accordance with market practice.

25.17

“Default” shall have the meaning assigned in Section 12.

25.18

“Defaulting Party” shall have the meaning assigned in Section 18.

25.19

“Distribution” shall mean, with respect to any Security at any time, any distribution made on or in respect of such Security, including, but not limited to: (a) cash and all other property, (b) stock dividends, (c) Securities received as a result of split ups of such Security and distributions in respect thereof, (d) interest payments, (e) all rights to purchase additional Securities, and (f) any cash or other consideration paid or provided by the issuer of such Security in exchange for any vote, consent or the taking of any similar action in respect of such Security (regardless of whether the record date for such vote, consent or other action falls during the term of the Loan). In the event that the holder of a Security is entitled to elect the type of distribution to be received from two or more alternatives, such election shall be made by Lender, in the case of a Distribution in respect of the Loaned Securities, and by Borrower, in the case of a Distribution in respect of Collateral.

25.20

“Equity Security” shall mean any security (as defined in the Exchange Act) other than a “nonequity security,” as defined in Regulation T.

25.21

“Exchange Act” shall mean the Securities Exchange Act of 1934, as amended.

25.22

“Extension Deadline” shall mean, with respect to a letter of credit, the Cutoff Time on the Business Day preceding the day on which the letter of credit expires.

25.23

“FDIA” shall have the meaning assigned in Section 26.4.

25.24

“FDICIA” shall have the meaning assigned in Section 26.5.

25.25

“Federal Funds Rate” shall mean the rate of interest (expressed as an annual rate), as published in Federal Reserve Statistical Release H.15(519) or any publication substituted therefor, charged for federal funds (dollars in immediately available funds borrowed by banks on an overnight unsecured basis) on that day or, if that day is not a banking day in New York City, on the next preceding banking day.

25.26

“Foreign Securities” shall mean, unless otherwise agreed, Securities that are principally cleared and settled outside the United States.

25.27

“Government Securities” shall mean government securities as defined in Section 3(a)(42)(A)-(C) of the Exchange Act.

25.28

“Lender” shall have the meaning assigned in Section 1.

25.29

“Lender Payment” shall have the meaning assigned in Section 8.5(a).

25.30

“LIBOR” shall mean for any date, the offered rate for deposits in U.S. dollars for a period of three months which appears on the Reuters Screen LIBO page as of 11:00 a.m., London time, on such date (or, if at least two such rates appear, the arithmetic mean of such rates).

25.31

“Loan” shall have the meaning assigned in Section 1.

25.32

“Loan Fee” shall have the meaning assigned in Section 5.1.

25.33

“Loaned Security” shall mean any Security transferred in a Loan hereunder until such Security (or an identical Security) is transferred back to Lender hereunder, except that, if any new or different Security shall be exchanged for any Loaned Security by recapitalization, merger, consolidation or other corporate action, such new or different Security shall, effective upon such exchange, be deemed to become a Loaned Security in substitution for the former Loaned Security for which such exchange is made. For purposes of return of Loaned Securities by Borrower or purchase or sale of Securities pursuant to Section 13, such term shall include Securities of the same issuer, class and quantity as the Loaned Securities, as adjusted pursuant to the preceding sentence.

25.34

“Margin Deficit” shall have the meaning assigned in Section 9.2.

25.35

“Margin Excess” shall have the meaning assigned in Section 9.3.

25.36

“Margin Notice Deadline” shall mean the time agreed to by the parties in the relevant Confirmation or otherwise as the deadline for giving notice requiring same-day satisfaction of mark-to-market obligations as provided in Section 9 hereof (or, in the absence of any such agreement, the deadline for such purposes established in accordance with market practice).

25.37

“Margin Percentage” shall mean, with respect to any Loan as of any date, 100% unless (a) Borrower and Lender agree otherwise, as provided in Section 24.2, or Borrower in its discretion determines that applicable laws or market custom required greater than 100% and 9b) Lender is not a Customer. Notwithstanding the previous sentence, in the event that the writing or other confirmation evidencing the agreement described in clause (a) does not set out such percentage with respect to any such Loan, the Margin Percentage shall not be a percentage less than the percentage obtained by dividing (i) the Market Value of the Collateral required to be transferred by Borrower to Lender with respect to such Loan at the commencement of the Loan by (ii) the Market Value of the Loaned Securities required to be transferred by Lender to Borrower at the commencement of the Loan.

25.38

“Market Value” shall have the meaning set forth in Annex II or otherwise agreed to by Borrower and Lender in writing. Notwithstanding the previous sentence, in the event that the meaning of Market Value has not been set forth in Annex II or in any other writing, as described in the previous sentence, Market Value shall be reasonably determined by Futu in accordance with its standard practices for valuing Securities. The determinations of market Value provided for in Annex II or in any other writing described in this Section 25.38 shall apply for all purposes under this Agreement, except for purposes of Section 13.

25.39

“Payee” shall have the meaning assigned in Section 8.5(a).

25.40

“Payor” shall have the meaning assigned in Section 8.5(a).

25.41

“Plan” shall mean: (a) any “employee benefit plan” as defined in Section 3(3) of the Employee Retirement Income Security Act of 1974 which is subject to Part 4 of Subtitle B of Title I of such Act; (b) any “plan” as defined in Section 4975(e)(1) of the Internal Revenue Code of 1986; or (c) any entity the assets of which are deemed to be assets of any such “employee benefit plan” or “plan” by reason of the Department of Labor’s plan asset regulation, 29 C.F.R. Section 2510.3-101.

25.42

“Regulation T” shall mean Regulation T of the Board of Governors of the Federal Reserve System, as in effect from time to time.

25.43

“Retransfer” shall mean, with respect to any Collateral, to pledge, repledge, hypothecate, rehypothecate, lend, relend, sell or otherwise transfer such Collateral, or to re-register any such Collateral evidenced by physical certificates in any name other than Borrower’s.

25.44

“Securities” shall mean securities or, if agreed by the parties in writing, other assets.

25.45

“Securities Distributions” shall have the meaning assigned in Section 8.5(a).

25.46

“Tax” shall have the meaning assigned in Section 8.5(a).

25.47

“UCC” shall mean the New York Uniform Commercial Code.

26. Intent.
26.1

The parties recognize that each Loan hereunder is a “securities contract,” as such term is defined in Section 741 of Title 11 of the United States Code (the “Bankruptcy Code”), as amended (except insofar as the type of assets subject to the Loan would render such definition inapplicable).

26.2

It is understood that each and every transfer of funds, securities and other property under this Agreement and each Loan hereunder is a “settlement payment” or a “margin payment,” as such terms are used in Sections 362(b)(6) and 546(e) of the Bankruptcy Code.

26.3

It is understood that the rights given to Borrower and Lender hereunder upon a Default by the other constitute the right to cause the liquidation of a securities contract and the right to set off mutual debts and claims in connection with a securities contract, as such terms are used in Sections 555 and 362(b)(6) of the Bankruptcy Code.

26.4

The parties agree and acknowledge that if a party hereto is an “insured depository institution,” as such term is defined in the Federal Deposit Insurance Act, as amended (“FDIA”), then each Loan hereunder is a “securities contract” and “qualified financial contract,” as such terms are defined in the FDIA and any rules, orders or policy statements thereunder (except insofar as the type of assets subject to the Loan would render such definitions inapplicable).

26.5

It is understood that this Agreement constitutes a “netting contract” as defined in and subject to Title IV of the Federal Deposit Insurance Corporation Improvement Act of 1991 (“FDICIA”) and each payment obligation under any Loan hereunder shall constitute a “covered contractual payment entitlement” or “covered contractual payment obligation,” respectively, as defined in and subject to FDICIA (except insofar as one or both of the parties is not a “financial institution” as that term is defined in FDICIA).

26.6

Except to the extent required by applicable law or regulation or as otherwise agreed, Borrower and Lender agree that Loans hereunder shall in no event be “exchange contracts” for purposes of the rules of any securities exchange and that Loans hereunder shall not be governed by the buy-in or similar rules of any such exchange, registered national securities association or other self-regulatory organization.

Annex I Party Acting as Agent

“Party acting as Agent” hereby does not apply.

Annex II Market Value

Shall not apply.

Annex III Term Loans

This Annex sets forth additional terms and conditions governing Loans designated as “Term Loans” in which Lender lends to Borrower a specific amount of Loaned Securities (“Term Loan Amount”) against a pledge of cash Collateral by Borrower for an agreed upon Cash Collateral Fee until a scheduled termination date (“Termination Date”). Unless otherwise defined, capitalized terms used but not defined in this Annex shall have the meanings assigned in the Securities Loan Agreement of which it forms a part (such agreement, together with this Annex and any other annexes, schedules or exhibits, referred to as the “Agreement”).

1.

The terms of this Annex shall apply to Loans of Equity Securities only if they are designated as Term Loans in a Confirmation therefor provided pursuant to the Agreement and executed by each party, in a schedule to the Agreement or in this Annex. All Loans of Securities other than Equity Securities shall be “Term Loans” subject to this Annex, unless otherwise agreed in a Confirmation or other writing.

2.

The Confirmation for a Term Loan shall set forth, in addition to any terms required to be set forth therein under the Agreement, the Term Loan Amount, the Cash Collateral Fee and the Termination Date. Lender and Borrower agree that, except as specifically provided in this Annex, each Term Loan shall be subject to all terms and conditions of the Agreement, including, without limitation, any provisions regarding the parties’ respective rights to terminate a Loan.

3.

In the event that either party exercises its right under the Agreement to terminate a Term Loan on a date (the “Early Termination Date”) prior to the Termination Date, Lender and Borrower shall, unless otherwise agreed, use their best efforts to negotiate in good faith a new Term Loan (the “Replacement Loan”) of comparable or other Securities, which shall be mutually agreed upon by the parties, with a Market Value equal to the Market Value of the Term Loan Amount under the terminated Term Loan (the “Terminated Loan”) as of the Early Termination Date. Such agreement shall, in accordance with Section 2 of this Annex, be confirmed in a new Confirmation at the commencement of the Replacement Loan and be executed by each party. Each Replacement Loan shall be subject to the same terms as the corresponding Terminated Loan, other than with respect to the commencement date and the identity of the Loaned Securities. The Replacement Loan shall commence on the date on which the parties agree which Securities shall be the subject of the Replacement Loan and shall be scheduled to terminate on the scheduled Termination Date of the Terminated Loan.

4.

Borrower and Lender agree that, except as provided in Section 5 of this Annex, if the parties enter into a Replacement Loan, the Collateral for the related Terminated Loan need not be returned to Borrower and shall instead serve as Collateral for such Replacement Loan.

5.

If the parties are unable to negotiate and enter into a Replacement Loan for some or all of the Term Loan Amount on or before the Early Termination Date, (a) the party requesting termination of the Terminated Loan shall pay to the other party a Breakage Fee computed in accordance with Section 6 of this Annex with respect to that portion of the Term Loan Amount for which a Replacement Loan is not entered into and (b) upon the transfer by Borrower to Lender of the Loaned Securities subject to the Terminated Loan, Lender shall transfer to Borrower Collateral for the Terminated Loan in accordance with and to the extent required under the Agreement, provided that no Default has occurred with respect to Borrower.

6.

For purposes of this Annex, the term “Breakage Fee” shall mean a fee agreed by Borrower and Lender in the Confirmation or otherwise orally or in writing. In the absence of any such agreement, the term “Breakage Fee” shall mean, with respect to Loans of Government Securities, a fee equal to the sum of (a) the cost to the non-terminating party (including all fees, expenses and commissions) of entering into replacement transactions and entering into or terminating hedge transactions in connection with or as a result of the termination of the Terminated Loan, and (b) any other loss, damage, cost or expense directly arising or resulting from the termination of the Terminated Loan that is incurred by the non-terminating party (other than consequential losses or costs for lost profits or lost opportunities), as determined by the non-terminating party in a commercially reasonable manner, and (c) any other amounts due and payable by the terminating party to the non-terminating party under the Agreement on the Early Termination Date.

風險披露聲明

本風險披露聲明並非就作出交易或交易本身的全部風險及其他重要方面進行披露或討論。有鑒于所涉及的風險,閣下(即客戶)只應在閣下明白交易的性質,閣下將要訂立的合約關系和閣下所須承擔風險的性質和程度後才進行交易。閣下亦應按閣下的投資經驗、投資目標、財政資源和其他相關條件,去考慮交易是否適合自己。即使富途證券投資服務有限公司(「富途證券」)作出此一般性的風險的警告,富途證券並不是亦不能被視為閣下的財務顧問。閣下應在進行任何交易前諮詢閣下自己的獨立法律、稅務或財務顧問。

證券交易的風險
1

證券價格有時可能會非常波動。同時,證券價格可升可跌,及甚至變成毫無價值。買賣證券未必一定能夠賺取利潤,反而可能會招致損失。

2

證券(包括但不限於債券或于單位信托基金,共同基金或其他集合投資計劃所持有的利益)的價格有時可能會非常波動,及可升亦可跌,或甚至變成毫無價值。買賣證券未必一定能夠賺取利潤,反而可能會招致損失。

3

任何關於以往業績的陳述,未必能夠作為日後業績的指引或參考。

4

倘若投資涉及外幣,匯率的波動或會導致投資的價值作出上下波動。

5

在新興市場投資,閣下需要對每項投資以及風險(包括但不限於主權風險、發行人風險、價格風險、流動性風險、法律和稅務風險)作出謹慎和獨立的分析。而且閣下亦需注意,雖然這些投資可以產生很高的回報,他們亦同時存在高風險,因為市場是不可估計,而且市場未必有足夠的規條和措施去保障投資者。

6

富途證券有權按閣下的交易指示行動。若閣下的交易指示因任何原因乃不合時宜或不應該進行或該等交易指示很可能會帶給閣下損失,閣下不可假設富途證券會向閣下提出警告。

7

在閣下進行任何投資前,閣下應索取有關所有佣金、開支和其他閣下須繳付的費用的明確說明。這些費用會影響閣下的純利潤(如有的話)或增加閣下的損失。

買賣人民幣證券或投資于人民幣投資的風險
1

外匯風險及每日兌換限製等
現時人民幣不可自由兌換及可能在任何特定時間在中國大陸以外只有有限的人民幣供應。以人民幣計值的證券存有兌換風險,並且就兌換金額可能有每日或其他限製。如在香港買賣人民幣,閣下可能需要容許足夠時間以避免超過該等限製。此外,以人民幣計值的證券帶有流動性風險,特別是如果該等證券沒有交投暢旺的第二市場及他們的價格有大額買賣差價。
投資于以人民幣計值的證券須承受匯率風險。人民幣對任何其他外幣的匯價會波動並且受到中國大陸及國際政治及經濟狀況及多個其他因素影響。與其他貨幣相比人民幣結算金額的價值將因應現行市場匯率而變更。
就人民幣產品但並非以人民幣計值或帶有並非以人民幣計值的相關投資而言,該等產品因作投資及出售投資而須承受多重貨幣兌換成本,還須承受為履行贖回要求及其他資本規定(例如結算營運開支)而賣出資產時出現的人民幣匯率波動及買賣差價。

2

以人民幣計值的相關投資的有限供應
就沒有途徑于中國大陸直接投資的人民幣產品而言,他們在中國大陸以外又以人民幣計值的相關投資的可供選擇可能有限。該限製可能導致人民幣產品之回報及表現受到不利影響。

3

無保證的預期回報
如果人民幣投資產品附有闡釋性質的聲明說明回報而該回報(部份)並無保證,閣下應特別注意有關無保證回報(或回報之部份,視屬何情況而定)的任何披露及該等說明所依據的假設,例如包括任何未來花紅或股息分派。

4

對投資產品的長期承擔
就涉及長時間投資的人民幣產品而言,閣下應特別注意如閣下于到期日前或禁售期(如適用)期間贖回閣下之投資,在贖回收益實質上低於投資額時閣下可能會招致重大本金損失。閣下應注意提早退保發還/退出計劃的費用及收費,如有,及因于到期日前或禁售期期間贖回而導致損失花紅(如適用)。

5

交易對手的信貸風險
閣下應特別注意人民幣產品中涉及的交易對手之信貸風險。在人民幣產品可能投資于不受任何抵押品支持的人民幣債務工具的範圍內,該等產品須全面承受相關交易對手之信貸風險。當人民幣產品投資于衍生工具時,亦可能出現交易對手風險,因為衍生工具發行人違責行為可能導致人民幣產品之表現受到不利影響而引致重大損失。

6

利率風險
就屬于人民幣債務工具或可能投資于人民幣債務工具的人民幣產品而言,閣下應注意該等工具可能容易受利率波動的影響而導致人民幣產品之回報及表現受到不利影響。

7

流動性風險
閣下應注意與人民幣產品相關的流動性風險,及在適用情況下,注意在出售產品本身所投資的相關投資時,人民幣產品可能蒙受重大損失的可能性,特別是如果該等投資沒有交投暢旺的第二市場及他們的價格有大額買賣差價。

8

贖回時並非收取人民幣的可能性
就人民幣產品中有相當部份為以非人民幣計值的相關投資而言,閣下應注意贖回時並非全數收取人民幣的可能性。當人民幣的外匯管製及限製導致發行人不能及時取得足夠的人民幣款額,這種情況便可能出現。

9

與杠杆交易相關的附加風險
進行人民幣產品的杠杆交易之前,閣下應確保已經明白及接受借貸安排之風險和條款及條件。杠杆放大可能遭受的虧損,因而提高投資風險。閣下應注意在哪些情況下閣下可能被要求在短時間內存入額外的保證金及閣下之抵押品可能在未經閣下的同意下被出售。閣下應小心市場情況可能使備用交易指示,例如「止蝕」指示,無法執行的風險。另外,閣下應留意閣下須承受利率風險,特別是閣下之借貸成本可能因利率變動而增加。

買賣創業板股份的風險

創業板股份涉及很高的投資風險。尤其是該等公司可在無需具備盈利往績及無需預測未來盈利的情況下在創業板上市。創業板股份可能非常波動及流通性很低。
閣下只應在審慎及仔細考慮後,才作出有關的投資決定。創業板市場的較高風險性質及其他特點,意味著這個市場較適合專業及其他熟悉投資技巧的投資者。
現時有關創業板股份的數據只可以在香港聯合交易所有限公司(「聯交所」)所操作的互聯網網站上找到。創業板上市公司一般毋須在憲報指定的報章刊登付費公告。
假如閣下對本風險披露聲明的內容或創業板市場的性質及在創業板買賣的股份所涉風險有不明白之處,應尋求獨立的專業意見。

在聯交所買賣納斯達克-美國證券交易所證券的風險

按照納斯達克-美國證券交易所試驗計劃(「試驗計劃」) 掛牌買賣的證券是為熟悉投資技巧的投資者而設的。閣下在買賣該項試驗計劃的證券之前,應先諮詢富途證券的意見和熟悉該項試驗計劃。閣下應知悉,按照該項試驗計劃掛牌買賣的證券並非以聯交所的主板或創業板作第一或第二上市的證券類別加以監管。閣下應當僅在有足夠的辦法和資源獲得並理解通過互聯網以英文刊登和分派的關於試驗計劃的相關產品和市場數據的情況下,方考慮參加試驗計劃。

買賣衍生和結構性產品的一般風險
衍生產品的交易(「衍生交易」)可包括一系列的產品(包括通常被稱為結構性票據的產品並包括被稱為結構性存款的產品)。
這些產品可以是明顯地簡單(例如期貨或期權)或複雜(或獨立的)結構。這些產品可以為用戶帶來重大利益,亦同時可以為用戶帶來重大風險,而用戶必須清楚明白這些風險。考慮到潛在風險,閣下必須確保閣下在獲得所有用以衡量一項衍生交易的必要數據後,才去決定該交易對閣下是否恰當。閣下應考慮閣下打算在衍生交易中獲取什麼,當中包括閣下有關財政資源及營運資源,和任何稅務及會計上的考慮。
閣下應注意任何監管機構對衍生交易所訂立的一般架構。閣下亦可能要對一些相關的重要法規或其他法律因素作出考慮。
簡單而言,衍生交易可歸納為四個基本形式,雖然這些形式可能有重迭的地方,而同一交易可以是這四個形式的混合體。這些基本形式分別為掉期、期權、期貨和混合性投資工具(即資產、債務、股本或債務責任並包含其他三個基本形式中的其中一項之交易)。
衍生交易可以現金交收,可通過交付充抵其他財產或現金的財產交收,或不以現金交收而正常持有至到期為止。
無論涉及任何形式,所有衍生工具的一個共同特征,是一方或雙方的責任乃基于相關金融資產(交易乃由此衍生)的價格浮動,金融資產可以是,例如證券(包括股票及債券)、利率、指數、貨幣或一個參考機構的信用。
閣下不應進行衍生交易,除非閣下完全明白:
  • 衍生工具的性質及其基本原素和該衍生工具的相關金融資產;
  • 有關衍生工具文件中的法律條款及條件;
  • 閣下進行該衍生交易所需承擔的經濟風險的程度(而閣下已基于閣下對該衍生交易及/或相關衍生工具的相關投資經驗,閣下的財務目標,財政狀況及財政資源,決定此風險對閣下恰當);
  • 該衍生工具的稅務待遇。這可能是複雜和/或未能確定的;及
  • 此衍生工具所面對的監管待遇。
與場外衍生工具交易有關的一般風險

正如其他金融交易一樣,場外衍生工具交易涉及一系列重大風險。與特定場外衍生工具交易相關的具體風險必然取決於交易條件以及閣下所處情況。不過整體而言,所有的場外衍生工具交易都或多或少涉及市場風險、信貸風險、融資風險以及操作風險。

1

市場風險
是指由於一個或多個市場價格、利率或指數或者其他市場因素之波動或其等間的關聯性或關系,或者由於相關交易市場或關聯市場流通性不足,從而導致相關交易價值受到不利影響的風險。

2

信貸風險
是指相關交易對手無法按時向閣下履行責任的風險。

3

融資風險
是指在場外衍生工具交易或相關對沖、貿易、抵押或者其他交易當中,由於閣下的交易對手的資金流動時機出現錯配或延誤,從而導致閣下或者閣下的交易對手沒有足夠的現金履行責任的風險。

4

操作風險
是指由於閣下用作監控及量度與場外衍生工具交易相關風險及合約責任、用作記錄及評估場外衍生工具及相關交易,或者用作監察人為錯誤、系統故障或管理不善的內部系統及控制措施存在缺陷或者出現故障,從而導致閣下蒙受損失的風險。

因應相關交易條款,閣下可能仍需考慮其他重大風險。其中,高度地按客戶意思而訂立的場外衍生工具交易可能會增加流通風險並帶來其他較為複雜的重大風險因素。就高杠杆效應交易而言,其指定或相關市場因素若有輕微波幅,則可能會導致相關高杠杆效應之交易出現重大的價值損益。
由於閣下訂立或終止場外衍生工具交易的價格及其他條件是個別議定,其等可能不是閣下可于其他途徑可獲得之最佳價格或條件。
在評估個別場外衍生工具交易有關的風險及其合約責任時,閣下亦須考慮到,該場外衍生工具交易可能須得到原先合約雙方一致同意之後方能修訂或終止,同時該場外衍生工具交易亦必須受到相關合約條款之約束。因此,閣下在預定終止日期之前可能無法修改、終止或抵消閣下就相關交易所承擔之責任或者所面對之風險。
同樣地,雖然市場作價者及交易商一般會提供訂立或終止場外衍生工具交易的價格或條件,以及會就未完成的場外衍生工具交易提供指示性或中期市場報價,但一般來說,他們並沒有合約性責任約束其等必須提供上述價格、條件或報價。此外,如果某一市場作價者或交易商並非相關交易對手,就可能無法向其取得場外衍生工具交易的指示性或中期市場報價。因此,閣下可能難以確立未完成場外衍生工具交易的獨立價值。閣下不應將交易對手因應閣下要求而提供的估價或指示性價格視為以該價值或價格訂立或取消相關交易之要約,除非有關價值或價格經已由交易對手確認並承認其具有約束力。

以上所述並非旨在披露與場外衍生工具交易有關的所有風險及其他考慮因素。閣下不應將此一般披露聲明視為商業、法律、稅務或會計建議或者視為對相關法例之修訂。閣下應當就擬定進行的場外衍生工具交易自行諮詢商業、法律、稅務及會計顧問之意見;除非閣下經已完全明白相關交易的條件及風險,包括閣下可能蒙受損失之風險水平,否則閣下不應參與任何場外衍生工具交易。

買賣交易所買賣之結構性產品(結構性產品)(例如:衍生權證 (權證),牛熊證)的一些相關風險
1

發行商失責風險
倘若結構性產品發行商破產而未能履行其對所發行證券的責任, 投資者只被視為無抵押債權人, 對發行商任何資產均無優先索償權。因此, 投資者須特別留意結構性產品發行商的財力及信用。
注意: 香港交易所公司網站的「衍生權證」及「牛熊證」內的「發行商與流通量提供者數據」均載列「發行商之信貸評級」, 顯示個別發行商的信貸評級。

2

非抵押產品風險
非抵押結構性產品並沒有資產擔保。倘若發行商破產, 投資者可以損失其全數投資。要確定產品是否非抵押, 投資者須細閱上市檔。

3

杠杆風險
結構性產品如權證及牛熊證均是杠杆產品,其價值可按相對相關資產的杠杆比率而快速改變。投資者須留意, 結構性產品的價值可以跌至零, 屆時當初投資的資金將會盡失。

4

有效期的考慮
結構性產品設有到期日, 到期後的產品即一文不值。投資者須留意產品的到期時間, 確保所選產品尚余的有效期能配合其交易策略。

5

特殊價格移動
結構性產品的價格或會因為外來因素( 如市場供求) 而有別于其理論價, 因此實際成交價可以高過亦可以低過理論價。

6

外匯風險
若投資者所買賣結構性產品的相關資產並非以港幣為單位, 其尚要面對外匯風險。貨幣兌換率的波動可對相關資產的價值造成負面影響, 連帶影響結構性產品的價格。

7

流通量風險
聯交所規定所有結構性產品發行商要為每一只個別產品委任一名流通量提供者。流通量提供者的職責在為產品提供兩邊開盤方便買賣。若有流通量提供者失責或停止履行職責, 有關產品的投資者或就不能進行買賣,直至有新的流通量提供者委任出來止。並無保證投資者可隨時以其目標價買賣結構性產品。

買賣權證的一些額外風險
1

時間損耗風險
假若其他情況不變, 權證愈接近到期日, 價值會愈低, 因此不能視為長線投資。

2

波幅風險
權證的價格可隨相關資產價格的引申波幅而升跌, 投資者須注意相關資產的波幅。

3

市場風險及成交金額
除了決定權證理論價格的基本因素外,權證價格亦會受權證本身在市場上的供求影響,尤其權證在市場上快將售罄又或發行商增發權證時。權證成交金額高不應認作為其價值會上升,除了市場力量外,權證的價值還受其他因素影響,包括相關資產價格及波幅、剩余到期時間、利率及預期股息。

買賣牛熊證的一些額外風險
1

強制收回風險
投資者買賣牛熊證, 須留意牛熊證可以即日「取消」或強制收回的特色。若牛熊證的相關資產值等同上市檔所述的強制收回價/ 水平, 牛熊證即停止買賣。屆時, 投資者只能收回已停止買賣的牛熊證由產品發行商按上市文件所述計算出來的剩余價值 ( 注意: 剩余價值可以是零) 。

2

融資成本
牛熊證的發行價已包括融資成本。融資成本會隨牛熊證接近到期日而逐漸減少。牛熊證的年期愈長, 總融資成本愈高。若一天牛熊證被收回, 投資者即損失牛熊證整個有效期的融資成本。融資成本的計算程序載于牛熊證的上市檔。

3

接近收回價時的交易
相關資產價格接近收回價時,牛熊證的價格可能會變得更加波動,買賣差價可能會轉闊,流通量亦可能減低。牛熊證隨時會被收回而交易終止。由於強制收事件發生的時間與牛熊證實際停止買賣之間可能會有一些時差。有一些交易或會在強制收回事件發生後才達成及被交易所參與者確認,但任何在強制收回事件後始執行的交易將不被承認並會被取消。因此投資者買賣接近收回價的牛熊證時需額外小心。

有關權證及牛熊證的進一步資料, 請瀏覽香港交易所公司網站:

「產品及服務」的「衍生權證」產品專欄
http://www.hkex.com.hk/chi/prod/secprod/dwrc/dw_c.htm
「產品及服務」的「牛熊證」產品專欄
http://www.hkex.com.hk/chi/prod/secprod/cbbc/intro_c.htm

買賣合成交易所買賣基金(ETFs)的風險

有別于傳統型交易所買賣基金,合成ETFs並 .買相關基準的成分資產,一般都是透過金融衍生工具去複製相關基準的表現。投資合成ETFs涉及高風險,並非人皆適合,投資者買賣合成ETFs前必須請楚明白及考慮以下的風險。

市場風險

交易所買賣基金主要為追蹤某些指數、行業/領域又或資產組別(如股票、債券或商品)的表現。投資者會承受ETFs相關指數/資產有關的政治、經濟、貨幣及其他風險。投資者必須要有因為相關指數/資產的波動而受損失的準備。

交易對手風險

若合成ETFs投資于衍生工具以追蹤指數表現,投資者除了會承受與指數有關的風險外,亦會承受發行有關衍生工具的交易對手的信貸風險。此外,投資者亦應考慮有關衍生工具發行人的潛在連鎖影響及集中風險(例如由於衍生工具發行人主要是國際金融機構,固此若合成ETFs的其中一個衍生工且交易對手倒閉,便可能對該合成ETFs的其他 .生工具交易對手產生「連鎖」影響)。有些合成ETFs備有抵押品以減低交易對手風險,但仍要面對當合成ETFs的抵押品被變現時,抵押品的市值可能已大幅下跌的風險。

流動性風險

交易所買賣基金雖然在相關交易所上市買賣,但這並不保證該基金必定有流通的市瑒。若合成ETFs涉及的衍行生工具沒有活躍的第二市場,流動性風險會更高。較大的衍生工具的買賣差價亦會引致虧損。而要提早解除這些工具的合約比較困難、成本也較高,尤其若市場設有買賣限製、流通量也有限,解除合約便更加困難。

追蹤誤差風險

ETFs及相關指數的表現可能不一致。原因,舉例來說,可能是模擬策略失效、匯率、收費及支出等因素。
以折讓或溢價買賣
若ETFs所追蹤的指數/市場就投資者的參與設有限製,則為使ETFs的價格與其資產淨值一致的增設或贖回單位機制的效能可能會受到影響,令ETF的價格相對其資產淨值出現溢價或折讓。投資者若以溢價買入ETF,在基金終止時可能無法收回溢價。

外匯風險

若投資者所買賣的交易所買賣基金的相關資產並非以港幣為單位,其尚要面對外匯風險。貸幣兌換率的波動可對相開資產的價值造成負面影響,連帶影響交易所買賣基金的價格。

股票期權(「 期權」)交易的風險

期權買賣的虧蝕風險可以極大。在某些情況下,閣下所蒙受的虧蝕可能會超過最初存入的保證金數額。即使閣下設定了備用指示,例如 「止蝕」或「限價」 等指示,亦未必能夠避免損失。市場情況可能使該等指示無法執行。閣下可能會在短時間內被要求存入額外的保證金。假如未能在指定的時間內提供所需數額,閣下的未平倉合約可能會被平倉。然而,閣下仍然要對閣下的帳戶內任何因此而出現的短欠數額負責。因此,閣下在買賣前應研究及理解期貨合約及期權,以及根據本身的財政狀況及投資目標,仔細考慮這種買賣是否適合閣下。如果閣下買賣期權,便應熟悉行使期權及期權到期時的程序,以及閣下在行使期權及期權到期時的權利與責任。
本簡要聲明並不涵蓋買賣期權的所有風險及其他重要事宜。就風險而言,閣下在進行任何上述交易前,應先了解將訂立的合約的性質(及有關的合約關系)和閣下就此須承擔的風險程度。期權買賣對很多公眾投資者都並不適合,閣下應就本身的投資經驗、投資目標、財政資源及其他相關條件,小心衡量自己是否適合參與該等買賣。

1

不同風險程度
期權交易的風險非常高。投資者不論是購入或出售期權,均應先了解其打算買賣的期權類別(即認沽期權或認購期權)以及相關的風險。

  • 對期權持有人之警告
    某些期權只能于屆滿日期行使 (歐式行使),而其他期權可于屆滿日期之前隨時行使(美式行使)。本人/吾等了解,在某些期權行使之後,需要交付及收取相關之證券,而其他期權將需要現金付款 。
    期權乃減耗資產,而本人/吾等作為期權持有人,可能會損失期權所付之全部期權金 。本人/吾等確認,作為期權持有人,必須行使有關期權或在市場上將期權長倉平倉,方可變現利潤 。在若干情況下,由於市場流通旺不足,可能難以進行期權交易 。本人/吾等確認,如沒有本人/吾等的指示,貴公司並無責任行使有價期權,亦無責任將期權的屆滿日期事先通知本人/吾等 。

  • 對期權賣方之警告
    作為期權之賣方,本人/吾等可能隨時被要求繳付額外保證金。本人/吾等確認,作為期權賣方(與期權持有人有所不同),本人/吾等可能須根據相關證券的價格升跌情況而須承擔無限損失,而本人/吾等之得益僅限於期權金 。
    此外,美式認購(認沽)期權之賣方,可能于屆滿之前隨時需交付(或繳付)相關證券,以至行使價乘以相關證券數目所得之全額款項,而本人/吾等知悉此項責任與賣出期權之時所收到之期權金數值完全不成比例,亦可能須于短時間通知後履行有關責任 。
    閣下應計入期權金及所有交易成本,然後計算出期權價值必須增加多少才能獲利。
    購入期權的投資者可選擇抵銷或行使期權或任由期權到期。如果期權持有人選擇行使期權,便必須進行現金交收或購入或交付相關的資產。若購入的是期貨產品的期權,期權持有人將獲得期貨倉盤,並附帶相關的保證金責任。如所購入的期權在到期時已無任何價值,閣下明白閣下將損失所有投資金額,當中包括所有的期權金及交易費用。假如閣下擬購入極價外期權,應注意閣下可以從這類期權獲利的機會極微。
    在一些情況下可能因為市場缺乏流動性而難以交易期權。閣下確認,富途證券無義務在沒有閣下的指示下行使有價值的期權,或在期權到期日前提前通知閣下。
    出售(「沽出」或「賣出」)期權承受的風險一般較買入期權高得多。賣方雖然能獲得定額期權金,但亦可能會承受遠高於該筆期權金的損失。倘若市況逆轉,期權賣方便須投入額外保證金來補倉。此外,期權賣方還需承擔買方可能會行使期權的風險,即期權賣方在期權買方行使時有責任以現金進行交收或買入或交付相關資產。若期權賣方持有相應數量的相關資產或期貨合約或其他期權作 「備兌」,則所承受的風險或會減少。假如有關期權並無任何「備兌」安排,虧損風險可以是無限大。

某些司法管轄區的交易所允許期權買方延遲支付期權金,令買方支付保證金費用的責任不超過期權金。盡管如此,買方最終仍須承受損失期權金及交易費用的風險。在期權被行使又或到期時,買方有責任支付屆時尚未繳付的期權金。

2

合約的條款及細則
閣下應向富途證券查詢閣下所買賣的有關期權合約的條款及細則,以及有關責任(例如:期權的到期日及行使的時間限製)。交易所或結算公司在某些情況下,或會修改尚未行使的合約的細則(包括期權行使價),以反映合約的相關權益的變化。

3

暫停或限製交易及價格關系
市場情況(例如市場流通量不足)及/或某些市場規則的施行(例如因價格限製或「停板」措施而暫停任何合約或合約月份的交易),都可以增加虧損風險,這是因為投資者屆時將難以或無法執行交易或平掉/抵銷倉盤。閣下確認,如果閣下賣出期權後遇到這種情況,閣下須承受的虧損風險可能會增加。
此外,相關權益與期權之間的正常價格關系可能並不存在。缺乏相關資產參考價格會導致投資者難以判斷何謂「公平價格」。

4

存放的現金及財產
如果閣下為在本地或海外進行的交易存放款項或其他財產,閣下應了解清楚該等款項或財產會獲得哪些保障,特別是在有關商號破產或無力償債時的保障。至于能追討多少款項或財產一事,可能須受限於具體法例規定或當地的規則。在某些司法管轄區,收回的款項或財產如有不足之數,則可認定屬于閣下的財產將會如現金般按比例分配予閣下。

5

佣金及其他收費
在開始交易之前,閣下先要清楚了解閣下必須繳付的所有佣金、費用或其他收費。這些費用將直接影響閣下可獲得的淨利潤(如有的話)或增加閣下的虧損。閣下一旦開始與富途證券進行任何交易活動即承認閣下已經獲得富途證券告知該等事宜。

6

交易設施
電子交易的設施是以計算器組成系統來進行交易指示傳遞、執行、配對、登記或交易結算。然而,所有設施及系統均有可能會暫時中斷或失靈,而閣下就此所能獲得的賠償或會受製于系統供貨商、市場、結算公司及/或參與者商號就其所承擔的責任所施加的限製。由於這些責任限製可以各有不同,閣下應向為閣下進行交易的商號查詢這方面的詳情。

7

電子交易
透過某個電子交易系統進行買賣,可能會與透過其他電子交易系統進行買賣有所不同。如果閣下透過某個電子交易系統進行買賣,便須承受該系統帶來的風險,包括有關系統硬件或軟件可能會失靈的風險。系統失靈可能會導致閣下的交易指示不能根據指示執行,甚或完全不獲執行。

使用互聯網或其他電子媒體的風險

任何經互聯網或其他電子媒介之通訊或交易或經其傳送之數據(包括任何文件)皆有風險及閣下明白及接受以下風險:

1

互聯網及其他電子媒介(包括但不限於電子儀器,由第三方電訊服務供貨商所提供的服務,例如手提電話或其他手提交易儀器或互動發聲回複系統裝置)本質上乃是不可靠的通訊形式,而此不可靠性乃非富途證券所能控制的。

2

互聯網或其他電子媒介(包括但不限於電子儀器,由第三方者電訊服務供貨商所提供的服務,例如手提電話或其他手提交易儀器或交互語音應答設備)上或經其傳送之數據(包括任何文件)或通訊或交易可能會遭受幹擾、輸送停頓、因為數據容量過大而導致輸送延誤,或由於互聯網或其他電子媒介的公眾性質而導致不正確數據傳達(包括但不限於不正確報價)或,提供價格數據有所停頓。

3

由於這些不可靠性,可能在傳達訊息和接受交易指示時會有時間上的差距或延誤或失敗或遺失訊息或失卻保密性,履行交易指示時的價格可能與給予交易指示時的價格有別。

提供將閣下的證券抵押品等再質押的授權書的風險

向富途證券提供授權書,容許其按照某份證券借貸協議書使用閣下的證券或證券抵押品、將閣下的證券抵押品再質押以取得財務通融,或將閣下的證券抵押品存放為用以履行及清償其交收責任及債務的抵押品,存在一定風險。
假如閣下的證券或證券抵押品是由富途證券在香港收取或持有的,則上述安排僅限於閣下已就此給予書面同意的情況下方行有效。此外,除非閣下是專業投資者,閣下的授權書必須指明有效期,而該段有效期不得超逾12 個月。若閣下是專業投資者,則有關限製並不適用。
此外,假如富途證券在有關授權的期限屆滿前最少14 日向閣下發出有關授權將被視為已續期的提示,而閣下對于在有關授權的期限屆滿前以此方式將該授權延續不表示反對,則閣下的授權將會在沒有閣下的書面同意下被視為已續期。
現時並無任何法例規定閣下必須簽署這些授權書。然而,富途證券可能需要授權書,以便例如向閣下提供保證金貸款或獲準將閣下的證券或證券抵押品借出予第三方或作為抵押品存放于第三方。富途證券應向閣下闡釋將為何種目的而用戶許可證書。
倘若閣下簽署授權書,而閣下的證券或證券抵押品已借出予或存放于第三方,該等第三方將對閣下的證券或證券抵押品具有留置權或作出押記。雖然富途證券根據閣下的授權書而借出或存放屬于閣下的證券或證券抵押品須對閣下負責,但其違責行為可能會導致閣下損失閣下的證券或證券抵押品。
富途證券有提供不涉及證券借貸的現金帳戶。假如閣下毋需使用保證金貸款,或不希望本身證券或證券抵押品被借出或遭抵押,則切勿簽署上述的授權書,並應要求開立該等現金帳戶。

保證金買賣的風險

藉存放抵押品而為交易取得融資的虧損風險可能極大。閣下所蒙受的虧蝕可能會超過閣下存放于有關富途證券作為抵押品的現金及任何其他資產。市場情況可能使備用交易指示,例如 「止蝕」或「限價」指示無法執行。閣下可能會在短時間內被要求存入額外的保證金款額或繳付利息。假如閣下未能在指定的時間內支付所需的保證金款額或利息,閣下的抵押品可能會在未經閣下的同意下被出售。此外,閣下將要為閣下的帳戶內因此而出現的任何短欠數額及需繳付的利息負責。因此,閣下應根據本身的財政狀況及投資目標,仔細考慮這種融資安排是否適合閣下。

關於獲授權第三者的風險

給獲授權第三者交易權和操作閣下帳戶的權利可以有很重大的風險,指示有可能是出自未有恰當授權的人士。閣下接受所有與此項運作上的風險及不可撤銷地免除富途證券所有有關此類指示而導致的責任,無論是否由富途證券接收。

提供代存郵件或將郵件轉交第三方的授權書的風險

假如閣下向富途證券提供授權書,允許其代存郵件或將郵件轉交予第三方,那麼閣下便須盡速親身收取所有關於閣下帳戶的成交單據及結單,並加以詳細閱讀,以確保可及時偵察到任何差異或錯誤。

將金錢或其他財產交給富途證券或其代名人或代理人的風險

客戶亦確認,將金錢、財產交由本公司、其代名人或其代理人保管均附有風險。例如,倘若本公司在持有客戶之證券或其他財產時而無力償債,則客戶在收回金錢、證券或其他財產方面可能將嚴重延遲。此為客戶須準備承受之風險。

在香港以外地方收取或持有的客戶資產的風險

富途證券或其代名人在香港以外地方收取或持有的客戶資產,是受到有關海外司法管轄區的適用法律及規例所監管的。這些法律及規例與《證券及期貨條例》( 第571 章) 及根據該條例製訂的規則可能有所不同。因此,有關客戶資產將可能不會享有賦予在香港收取或持有的客戶資產的相同保障。

附件八:報價訂閱協議
OPRA SUBSCRIBER AGREEMENT
1.

THIS SUBSCRIBER AGREEMENT (THIS “AGREEMENT”) IS AN AGREEMENT BETWEEN YOU AND FUTU SECURITIES INTERNATIONAL (HONG KONG) LIMITED FOR YOU TO RECEIVE INFORMATION PUBLISHED BY THE OPTIONS PRICE REPORTING AUTHORITY, LLC (“OPRA”). PLEASE READ THIS AGREEMENT CAREFULLY. AFTER YOU HAVE READ THIS AGREEMENT, PLEASE INDICATE YOUR AGREEMENT TO BE BOUND BY ITS TERMS AND CONDITIONS BY CLICKING ON THE “I AGREE” BUTTON AT THE END.

2

You are applying to receive from Futu Securities International (Hong Kong) Limited (“Vendor”) a market data service (the “Service”) providing access to current options last sale and quotation information and related information (“OPRA Data”) published by OPRA pursuant to a Plan declared effective by the Securities and Exchange Commission. The parties to this Plan (each, an “OPRA Participant”) are those national securities exchanges that are from time to time approved by the Securities and Exchange Commission for the trading of securities options. In reviewing and approving this Agreement, Vendor is authorized to act on behalf of OPRA. The person who acts from time to time as data processor on behalf of OPRA is referred to herein as “OPRA’s Processor.”

3.

You are consenting to enter into this Agreement in electronic form and have the right to withdraw your consent by terminating this Agreement and your receipt of the OPRA Data. Your right to terminate this Agreement and your receipt of the OPRA Data, and the procedure you must follow to do so, are described in paragraph 6 below. If any information needed to contact you electronically changes, the procedure for notifying Vendor is described in paragraph 11 below.

4.

The term “Nonprofessional” is defined in section 6 of this Agreement. The purpose of the Addendum is to determine whether you are a Nonprofessional under this definition. If you are a Nonprofessional under this definition, OPRA’s charges to Vendor for your use of the OPRA Data are subject to a cap, and you may be entitled to pay lower fees to Vendor.

5.

You hereby represent and agree as follows:

5.1

You shall receive the Service and the OPRA Data included therein solely for your own business or personal use, and you shall not retransmit or otherwise furnish the OPRA Data to any person, other than your own employees on devices that are subject to the control of Vendor. If you are a Nonprofessional and have completed the Addendum for Nonprofessionals, you are only permitted under this Agreement to use the OPRA Data for the investment activities described in the Addendum for Nonprofessionals.

5.2

You acknowledge that OPRA Data is and shall remain the property of the OPRA Participant on which a reported transaction took place or a reported quotation was entered.

5.3

NEITHER VENDOR, OPRA, OPRA’S PROCESSOR NOR ANY OPRA PARTICIPANT GUARANTEES THE TIMELINESS, SEQUENCE, ACCURACY OR COMPLETENESS OF ANY OF THE OPRA DATA SUPPLIED TO YOU HEREUNDER AND NEITHER VENDOR, OPRA, OPRA’S PROCESSOR NOR ANY OPRA PARTICIPANT SHALL BE LIABLE IN ANY WAY, TO YOU OR TO ANY OTHER PERSON, FOR ANY LOSS, DAMAGES, COST OR EXPENSE WHICH MAY ARISE FROM ANY FAILURE OF PERFORMANCE BY VENDOR, OPRA, OPRA’S PROCESSOR OR ANY OPRA PARTICIPANT, OR FROM ANY DELAYS, INACCURACIES, ERRORS IN OR OMISSIONS OF, ANY OF THE OPRA DATA OR IN THE TRANSMISSION OR DELIVERY THEREOF, WHETHER OR NOT DUE TO ANY NEGLIGENT ACT OR OMISSION ON THE PART OF VENDOR, OPRA, OPRA’S PROCESSOR OR ANY OPRA PARTICIPANT. IN NO EVENT SHALL VENDOR, OPRA, OPRA’S PROCESSOR OR ANY PARTICIPANT BE LIABLE FOR ANY INCIDENTAL, SPECIAL, INDIRECT OR CONSEQUENTIAL DAMAGES, INCLUDING BUT NOT LIMITED TO LOST PROFITS, TRADING LOSSES, OR DAMAGES RESULTING FROM INCONVENIENCE OR LOSS OF USE OF THE SERVICE.

5.4

The terms of this Agreement may be modified at any time upon notice to you. If you do not assent to this Agreement as modified at or prior to the time you next attempt to access the Service, this Agreement shall automatically be terminated. This Agreement as modified shall apply to your use of the Service from and after the date of the modification.

5.5

Your receipt of the OPRA Data hereunder may be terminated at any time by you or by Vendor upon 30 days notice from the terminating party to the other party, and may be terminated immediately upon a determination by Vendor or OPRA that you are not in compliance with this Agreement.

5.6

Nothing herein shall be deemed to prevent or restrict OPRA, OPRA’s Processor or any OPRA Participant from discontinuing to furnish OPRA Data for dissemination or from making such changes in the speed of transmission, the characteristics of the electrical signals representing the OPRA Data or the manner of disseminating the same, as OPRA shall from time to time determine to be appropriate, with or without notice to you. You shall not hold OPRA, OPRA’s Processor, or any OPRA Participant liable for any resulting liability, loss or damage that may arise therefrom.

5.7

You agree to notify Vendor promptly of any changes in the information provided herein and to furnish Vendor any additional information requested by it in connection with your receipt of the OPRA Data.

5.8

The parties acknowledge and agree that this Agreement is for the express benefit of OPRA, OPRA’s Processor and each OPRA Participant.

5.9

The provisions of Sections 3, 4 and 9 will survive any termination of this Agreement and will remain in full force and effect.

5.10

All notices under this Agreement may be provided either in writing or electronically. All written notices to Vendor shall be sent to the Vendor’s street address set forth above and all such notices to you shall be sent to the street address that you provide in paragraph 1. All electronic notices to Vendor shall be sent to Vendor’s email address set forth above and all such notices to you shall be provided to you where you access the OPRA Data electronically.

6.

You represent and agree that the following statements are and will continue to be true for so long as you receive OPRA Data as a Nonprofessional:

6.1

You are either a “natural person” (an individual human being) or a “qualifying trust.”* You are not a corporation, partnership, limited liability company, or other form of entity (including any form of trust that does not qualify as a qualifying trust).

6.2

If you are a natural person, you shall use the OPRA Data solely in connection with your personal investment activities and the personal investment activities of your immediate family members** and qualifying trusts of which you are the trustee or custodian. If you are a qualifying trust, you shall use the OPRA Data solely in connection with your personal investment activities. In any case, you shall not use the OPRA Data in connection with any trade, business, professional or other commercial activities.

6.3

You are not a “Professional.” For a natural person who works in the United States, a “Professional” is a natural person who is: (i) registered or qualified with the Securities and Exchange Commission, the Commodities Futures Trading Commission, any state securities agency, any securities exchange/association, or any commodities/futures contract market/association, (ii) engaged as an “investment adviser,” as that term is defined in the Investment Advisers Act of 1940 (whether or not registered or qualified under that Act); or (iii) employed by a bank or other organization exempt from registration under Federal and/or state securities laws to perform functions that would require you to be so registered or qualified if you were to perform such functions for an organization not so exempt. For a natural person who works outside of the United States, a “Professional” is a natural person who performs the same functions as someone who would be considered a “Professional” in the United States.

6.4

You agree to notify Vendor promptly if your circumstances change such that any of the statements in Section 6 of this Agreement would no longer be true for you.

7.

For the purpose of Section 6 of this Agreement, the term:

7.1

“qualifying trust” means (a) any irrevocable or revocable trust (1) which has only one trustee, who is a natural person and is not receiving any compensation for acting as trustee and (2) of which the only current beneficiaries are any one or more of the trustee and the immediate family members of the trustee, and (b) any custodial account established under a Uniform Transfers to Minors Act or similar state statute (1) which has only one custodian, who is a natural person and is not receiving any compensation for acting as custodian, and (2) of which the beneficiary is a lineal descendant (a child, grandchild, etc.) of the custodian. A “current beneficiary” is a beneficiary to whom the current income or principal of the trust may or must then be distributed, ignoring the possible exercise of any then unexercised power of appointment.

7.2

“immediate family members” means, with reference to a particular natural person, the spouse of that person, that person’s lineal ancestors (that is, parents, grandparents, etc.) and lineal descendants (that is, children, grandchildren, etc.), and the spouses (including surviving spouses) of that person’s lineal ancestors and lineal descendants. The term includes step and adoptive relationships.

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