OptionsHouse’s Trade Confirmation Terms and Conditions
OptionsHouse is an introducing broker and has contracted Apex Clearing Corporation (Apex) to carry your account and serve as clearing broker. If you have any questions regarding the transactions detailed in this confirmation, please contact customer service. Your transactions are subject to the following terms and conditions:
- All orders are received and executed subject to the rules, regulations, customs and usages of the SEC, FINRA, MSRB, FRB, and the exchange or market where the order is entered, the provisions of the Securities Exchange Act of 1934, and the clearing broker, if any.
- OptionsHouse may participate in payment for order flow programs that result in OptionsHouse receiving remuneration, compensation, or consideration for directing orders to broker-dealers, exchanges and market centers for execution. The source and nature of such compensation received will be furnished upon request. Read the Order Routing and Order Flow Disclosure Statement.
- All securities purchased or received for your account and not paid for in full may be loaned by Apex, used in making deliveries or substitutions, or may be pledged either separately or together with other securities, either for the sum due thereon, or for a greater sum without retaining for delivery a like amount of similar securities, all without further notice to you and with your consent, which is hereby specifically given. In the interim of receiving payment for securities purchased, these securities are or may be hypothecated under circumstances which will permit the commingling thereof with securities carried for the account of other customers.
- Upon written request, further details will be provided for the following items: (i) The execution date and time of your transaction; (ii) If OptionsHouse or Apex acted as your agent, the name of the other party to the transaction; (iii) Transaction data on average priced trades; and (iv) The detailed breakdown of any fees.
- OptionsHouse or Apex may, whenever in the judgment of either it appears necessary for its protection, and without further notice, close your account in whole or in part, through a public or private transaction, by selling the securities therein held, or by buying any securities therein held short, or for which you have failed to make delivery following a sale. You shall at all times be liable for, and shall pay on demand, the amount of any debit balance or other obligation owing in any of your accounts with Apex including any deficiency. If payment is not received by the settlement date shown on this confirm, interest may be charged at the margin interest rate.
- Reports of the execution of orders and statements of the account will be conclusive if not objected to, by you and in writing, the former within five days, and the latter within ten days after forwarding such report or statement to you by mail or otherwise.
- OptionsHouse, Apex, and their respective officers, directors, representatives and employees may from time to time have a long or short position and buy or sell the same securities concurrent with transactions listed on your trade confirmation.
- All transactions on this confirmation are presumed to be unsolicited unless noted on this trade confirmation.
- The responsibility to cancel an existing open order resides with you. Any transactions which result from the execution of any order which you have not instructed us to cancel will be entered into your account.
- You agree to promptly pay or deliver, in good delivery form to Apex any dividend, interest or distribution, whether in cash, stock, rights or other property, received by you after a sale is made before an ex-dividend date, ex-interest, ex-rights or ex-distribution date applicable to such dividend, interest or distribution.
- For mutual funds: You may be eligible for breakpoint discounts on the size of your purchase, current holdings or future purchases. Upon selling your shares, you may pay a sales charge. For more detailed information and other data on fees, etc., please see the Mutual Fund Prospectus, which is mailed separately.
- For bonds: To the extent that the bonds described on your confirmation may have been assigned a rating by one or more rating companies, an explanation of the significance of such rating, if any, should be obtained from the appropriate rating company. A rating, if assigned, reflects only the view of the company assigning the rating and no representation is made as to the appropriateness of such rating. There is no assurance that any rating, if assigned, will continue for any given period of time or that it will not be revised downward or withdrawn entirely, by the rating company, if in the rating company’s judgment, circumstances so warrant. To the extent the bonds described herein may be redeemed in whole or in part before maturity, such redemption could affect the yield represented. Additional information is available upon written request.