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IMPORTANT! READ THIS AGREEMENT BEFORE USING ANY OF THE ANCO
DISCOUNT FUTURES ("ANCO") ONLINE SERVICES. ANCO’S ONLINE SERVICES
INCLUDE ORDER ENTRY AND ACCOUNT STATUS SYSTEMS, MARKET TRADING AND GENERAL INFORMATION
INCLUDING QUOTES, CHARTS, NEWS, SYSTEM INFORMATION AND OTHER SERVICES THAT MAY
BE ADDED FROM TIME TO TIME. ALL OF ANCO’S ONLINE SERVICES SHALL BE COLLECTIVELY
REFERRED TO AS "THE SYSTEM". YOUR USE OF THE SYSTEM, OR SIGNED ACKNOWLEDGEMENT,
INDICATES YOUR ACCEPTANCE OF ALL THE TERMS OF THIS AGREEMENT.
1. The System is accessed through the Internet. Some of the
information available on The System is produced by ANCO, and some is provided
by various independent sources believed to be reliable. You acknowledge that
the accuracy, completeness, timeliness, and correct sequencing of the information
concerning your trading and account activity, the quotes, market and trading
news, charts, trading analysis and strategies, and other information that may
be added from time to time, is not guaranteed. You agree that ANCO shall have
no liability for the accuracy, completeness, and timeliness or correct sequencing
of the information or for any decision made or taken by you in reliance upon
information from The System, or for any interruptions of information provided
by The System, or for any aspect of The System.
2. You understand that while the Internet generally is reliable,
technical problems or other conditions may delay or prevent you from entering
or canceling an order on The System, or likewise may delay or prevent ANCO from
executing an order on The System. ANCO shall not be liable for, and you agree
not to hold or seek to hold ANCO liable for, any technical problems, system
failures and malfunctions, communication line failures, equipment or software
failures and malfunctions, system access issues, system capacity issues, high
Internet traffic demand, security breaches and unauthorized access beyond the
reasonable control of ANCO. ANCO does not represent or guarantee that you will
be able to access or use The System at times or locations of your choosing,
or that ANCO will have adequate capacity for The System as a whole or in any
geographic location. ANCO does not make any warranties or guarantees that The
System will provide uninterrupted and error free service. ANCO does not make
any warranties or guarantees with respect to The System or its contents. ANCO
reserves the right to suspend service, limit service, or deny access to The
System without prior notice.
3. You acknowledge that all orders placed through The System
are at your sole risk and that until ANCO issues a reference or routing number
and approves the order, it is not a valid or accepted order by ANCO. You further
acknowledge that there are minimum margin requirements on all commodity trades,
current margin requirements are subject to change without any prior notice,
and contingency orders are not accepted. If you enter an order through The System
that places your account in an under margined position, ANCO’s margin
policy applies. ANCO is not responsible for any delay or failure to provide
The System, including the ability to execute an order, in the event that there
is a restriction on your account or that you fail to make a margin deposit.
4. You agree not to reproduce, retransmit, disseminate, sell
or distribute any information found on ANCO’s website in any manner without
the express written consent of ANCO.
5. (a) Upon approval of your account for online trading, ANCO
will provide you with a password. The password will enable you to access your
account and enter orders for your account through The System. You agree to maintain
the confidentiality of the password at all times. You accept full responsibility
for the use and protection of the password, which includes, but is not limited
to, all orders entered into The System and changes in your account information.
5. (b) You accept full responsibility for monitoring your account(s)
with ANCO. Should you become aware of any loss, theft or unauthorized use of
your password, you agree to notify ANCO immediately.
5. (c) You agree that use of The System is at your own risk.
6. You agree to indemnify and hold ANCO harmless from and against
any and all claims, losses, liability, costs and expenses including, but not
limited to, attorney’s fees arising from your violation of this Agreement.
This indemnification and hold harmless obligation will survive the termination
of this Agreement.
7. ANCO reserves the right to terminate your access to The System
in its sole discretion, without notice and without limitation, for any reason
whatsoever, including but not limited to unauthorized use of The System, breach
of this Agreement, or breach or termination of your Customer Agreement.
8. You agree to pay all subscription, service and use fees,
if any, and commissions for any orders executed and agree that such fees may
be changed without notice. You agree to pay all costs (including attorney’s
fees), if any, incurred by ANCO in collecting overdue fees from you.
9. By signing this Agreement or using The System, you represent
that you have read and understand the foregoing terms and conditions and agree
to be bound by them. This Agreement supplements the Customer Agreement.
ELECTRONIC TRADING AND ORDER ROUTING SYSTEMS
DISCLOSURE STATEMENT*
Electronic trading and order routing systems differ from traditional open outcry
pit trading and manual order routing methods. Transactions using an electronic
system are subject to the rules and regulations of the exchange(s) offering
The System and/or listing the contract. Before you engage in transactions using
an electronic system, you should carefully review the rules and regulations
of the exchange(s) offering The System and/or listing contracts you intend to
trade.
DIFFERENCES AMONG ELECTRONIC TRADING SYSTEMS
Trading or routing orders through electronic systems varies widely among the
different electronic systems. You should consult the rules and regulations of
the exchange offering the electronic system and/or listing the contract traded
or order routed to understand, among other things, in the case of trading systems,
The System’s order matching procedure, opening and closing procedures
and prices, error trade policies, and trading limitations or requirements; and
in the case of all systems, qualifications for access and grounds for termination
and limitations on the types of orders that may be entered into The System.
Each of these matters may present different risk factors with respect to trading
on or using a particular system. Each system may also present risks related
to system access, varying response times, and security. In the case of internet-based
systems there may be additional types of risks related to system access, varying
response times and security, as well as risks related to service providers and
the receipt and monitoring of electronic mail.
RISKS ASSOCIATED WITH SYSTEM FAILURE
Trading through an electronic trading or order routing system exposes you to
risks associated with system or component failure. In the event of system or
component failure, it is possible that, for a certain time period, you may not
be able to enter new orders, execute existing orders, or modify or cancel orders
that were previously entered. System or component failure may also result in
loss or modification of orders and/or order priority.
SIMULTANEOUS OPEN OUTCRY PIT AND ELECTRONIC TRADING
Some contracts offered on an electronic trading system may be traded electronically
and through open outcry during the same trading hours. You should review the
rules and regulations of the exchange offering The System and/or the trading
platform being used to determine how orders will be routed and executed.
LIMITATION OF LIABILITY
Exchanges offering an electronic trading or order routing system and/or listing
the contract may have adopted rules to limit their liability, the liability
of FCMs, and software and communication system vendors and the amount of damages
you may collect for system failure and delays. These limitations of liability
provisions vary among the exchanges. You should consult the rules and regulations
of the relevant exchange(s) in order to understand these liability limitations.
The undersigned hereby acknowledges that he/she has received,
read, and understands the Electronic Trading and Order Routing Systems Disclosure
Statement.
* You must fill out all required fields below in order to receive
your password.
