Undertaking Alog Trading - globecapital | Globe Capital Market LTD.

Undertaking For Automated Trading

Acknowledgement for Automated Trading Facility

I/We, the undersigned persons got registered with Globe Capital Market Limited as a Client bearing UCC _____intend to avail the AT Facility (Automated Trading). In this regards, I/We hereby undertake :

in favour of

M/s Globe Capital Market Limited, a company registered under the Companies Act, 1956 and a member of NSE, BSE, MSEI, MCX, NCDEX and ICEX Exchanges (Collectively “the Exchanges”) having its registered office at 609, Ansal Bhawan, 16,K.G.Marg,Connaught Palace, New Delhi-110001 (hereinafter referred to as “Globe”).

 

WHEREAS:

  1. Globe is authorized to provide Automated Trading Facility (“ATFacility”) through its CTCL to its clients in accordance with the Rules, Regulations and Bye-laws of the Exchange.
  2. I /we have understood the Risk associated with the Automated Trading Facility (“ATFacility”) and agree/ confirm & undertake as follows:-

 

Now, therefore, in consideration of Globe having agreed to allow me/us to avail the Automated Trading Facility, I/we hereby irrevocably and unconditionally undertake and agree to abide by and to be bound by the following terms and conditions:

 

  • That the AT facility shall be subject to the provisions of Bye-Laws, Rules, Business Rules and Circulars of the Exchange for trading as well assuch additional terms and conditions as may be prescribed by the Exchange from time to time for AT Facility.
  • The ATF (Product/Strategy) Note, on Automated Trading Facility (“ATFacility”) have been provided to me/us by Globe. I/We duly acknowledge having signed the same. I/we have read and understood all the contents of these documents and functionality of the strategy and I/we am/are conversant with the features and risk factors of the Automated Trading Facility (“ATFacility”) that have been provided by Globe.
  • That I/we understand that by availing ATF facility, I/we would not be required to place the order at the platform of the exchange rather all the trades in my/our trading account/UCC would be placed automatically by the system in accordance with the ATF product/strategy/Note which has been signed by me/us. As such, clauseswith regard to maintenance of order placement records relating to placing of orders shall not be applicable to me/us so far as I/we are enjoying the aforesaid ATF facility.
  • I/we understand that the Automated Trading Facility (“ATFacility”) offered by Globe is available Through Web. Automated Trading Facility (“ATFacility”) will be used toexecute the trades/orders in my/our UCC using the ATF on agreed terms.
  • I/We understand and undertake that I/we are prohibited from making any modifications or changes to the automated trading system, except for setting the necessary parameters required to operate the automated trading facility in accordance with the permitted functionality.
  • I/We hereby undertake to strictly comply with all rules, regulations, circulars, and guidelines issued by the Securities and Exchange Board of India (SEBI), relevant exchanges, and other regulatory bodies concerning the placement and execution of orders through the automated trading facility.
  • I/We undertake to maintain strict confidentiality of the login credentials, including username and passwords, provided for accessing the automated trading facility. I/We hereby acknowledge and agree that Globe Capital Markets Limited shall not be held responsible or liable for any unauthorized access to the automated trading platform resulting from my/our failure to preserve the confidentiality of login credentials
  • That I/we shall be responsible to settle all the trades executed by me through web based automated trading facility, such trades were executed through AT Facility with my/our /knowledge and I/we shallbe bound to complete, fulfillall my/our obligations, liabilities/margins/deposits/commitments arising out of such trades.
  • That I/we shall maintain proper and adequate margin/MTM and shall have no objection if Globe takes any action including reducing the trade limits and/or suspending the facility and/or squaring up of transactions to bring down the exposure commensurate with the available margin.
  • That I/we understand & agree that for orders/transactions not executed, due to any reason including but not limited to time lags in execution of orders, malfunctioning of the ATF product/strategy/software, latency in the system of Globe or the Exchanges, disruption of any kind in the transmission of data, system failure including failure of ancillary or associated system, fluctuation of power, link failure between client and Member Broker, Member Broker and the Exchanges,virus/malware, delay/downtime, shutting down of systems by Globe, any force majeure event or any inaccuracy or error or delay or insufficiency of any information for any reason, I/we shall not hold Globe liable.
  • That I/we shall be solely liable and responsible for any monetary losses, damage(s) or other costs and consequences arising in any manner due to Algo orders submitted to the Exchange through Globe on account of any inadvertent mistake or mal-functioning or failure of any system, power failure and/or component failure and shall always keep Globe and its officers indemnified against any loss or damage(s) or compensation etc. and shall not hold Globe responsible in any manner whatsoever due to the use of AT Facility or inability to so use.
  • That I/we shall be bound by restriction on the facility including withdrawal of the services without notice for any reason including but not limited to change in the parameters in order to generation or their modification, securities/contract permitted under the services, condition under which further order generation is permitted securities/contracts is not allowed and any other terms and conditions which may be imposed from time to time by Globe/Exchange/SEBI.
  • I/We acknowledge and accept that Globe Capital Markets Limited reserves the absolute right to revoke the automated trading facility in the event of any non-compliance with regulatory provisions or instructions issued by regulatory bodies from time to time.
  • I/We understand and agree that upon revocation of the automated trading facility, I/we shall be restricted to only liquidating outstanding positions using other platforms and shall not be permitted to create new positions through the system.
  • I/We understand and agree that I will be using the platform only to place automated orders only.
  • That I/we understand that the AT Facility carries with its risk controls measuresincluding order level risk controls and client level risk controls. I/We shall not hold Globe or its officers responsible for the system rejecting any order(s) under in its riskmanagement and surveillance strategy and shall accept any or all decision(s) of Globe in this regard as final and binding upon me/us.
  • That I/we agree to indemnify and keep indemnified Globe against all losses, damages and actions which Globe may suffer or face as a consequence of adhering to and carrying out transactions through ATF or otherwise in my/our said UCC.
  • That I/we shall be liable for order(s) placed and executed in my/our trading account with above mentioned UCC by using ATF as per the Terms and conditions contained in the KYC, Contract between Member Broker & client, Rights & Obligations of Stock Brokers, Sub-Brokers & clients, Risk Disclosure Documents, Policy & Procedures, Guidance Note- Do’s &Don’t for trading, Standing Instructions/Authorizations and other documents (collectively referred as KYC and other Trading Documents ) executed with Globe from time to time and any amendments thereto, through notification or otherwise, for my/our trading account with Globe under the above referred UCC.I/we clearly understand that the terms and conditions contained in the present letter of acceptance are in addition to KYC and Other Trading Documents and all such documents and the present Undertaking shall be read together as a whole and in case of any conflict, the special condition contained in this undertaking shall have the precedence over the general terms contained in any other document in relation to any dispute where trading has been carried out under ATF facility.
  • That I/we hereby duly acknowledge & accept that by using Member Broker’s ATF, there can be no guarantee of Profit & /or no exception for Losses while executing orders using the ATF. All trades are subject to market risks and are to my/our account and Globe is not liable for the same for any reason whatsoever. It is clearly understood and agreed to by me/us that no service/facility in the nature of portfolio management/ advisory services etc are contemplated under Automated Trading Facility &/or other agreement(s) between me/us and Globe. No person working for or under Globe including dealers, relationship manager,Authorised Person is permitted to provide any services, facilities except that of order placement in trading system using Automated Trading Facility as consented by me/us as above. If I/we accept any portfolio management services/advice/any kind of trading arrangement/facility from any person including but not limited to dealer, relationship manager or authorized person then in that event Globe shall in no way be responsible for the outcome of such services/facilities accepted by me/us and such arrangements if any between me/us and any person including the dealer, the relationship manager or authorized person and I/we shall have no recourse/right against Globe whatsoever either in law or equity for any such dealings.
  • That I/we undertake to pay additional charges related to availing this Automated Trading Facility (“ATFacility”) as may be communicated to me/us from time to time.
  • I/We have read & understood the above mentioned clauses, strategy/product note, risk associated with Automated Trading Facility (ATF) and give my/our acceptance as per my/our own volitions. I/am/we are aware that I/we can revoke this undertaking at any time by serving notice in writing by the registered post to Director, Globe Capital Market Limited, 609 Ansal Bhawan, 16 K.G.Marg, New Delhi-110001, subject to clearance/discharge of my/our financial and other obligations towards Globe arising out of trades in my/our said UCC executed using ATF till end of the day of receipt of my/our withdrawal letter by Globe.
  • That I/we shall be solely responsible and liable for the consequences in case of breach of this undertaking and Globe shall be entitled to take such appropriate action as it may deem fit against me/us.
  • I/We confirm having read and understood the above undertaking and agree to be bound by its terms and conditions.

 

Thanking You

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