OSL Terms of Business for Professional Clients and ... - Otkritie

Otkritie Securities Limited
Terms of Business For Professional Clients
and Eligible Counterparties
SECTION E: MARGIN TRADING TERMS 6
1. Definitions
The terms set out below have the following meanings as used in these MARGIN TRADING TERMS
(hereinafter referred to as the “Margin Terms”):
‘Margin Account’ means an account opened with us that allows you to make purchases and short sales of
certain securities using available cash and/or using cash or securities borrowed from us while using
marginable securities or cash as collateral for the credit.
‘Marginable Securities’ basically mean any liquid stock that can be margined or given haircut.
‘Short Sale’ means the sale of a security which you do not own, with the intention to settle with the borrowed
securities.
‘Margin Transaction’ means a Transaction of selling and buying securities using available cash and/or using
cash or securities borrowed from us while using marginable securities or cash as collateral for the credit.
‘Open Margin Position’ means a Position that has been opened as a result of your Margin Transactions.
‘Open Long Margin Position’ means a Position that has been opened as a result of buying securities when
your borrow cash due to insufficient cash in a definite currency in your account for fulfilling the obligation to
settle for such securities.
‘Open Short Margin Position’ means a Position that has been opened as a result of selling securities which
you do not own with the intention to borrow securities from us for fulfilling the obligation to settle for such
securities.
‘Cash Balance’ means the net amount of cash in a definite currency in your account and the funds are to be
received from selling Transactions in such currency due to be settled on the date the Cash Balance is to be
determined less than:
1) the funds are to be paid for purchase Transactions in such currency due to be settled on the date the
Cash Balance is to be determined, and
2) than any charges to your account.
‘Overnight REPO’ and/or ‘Overnight Reverse REPO’ mean a REPO and/or Reverse REPO Transaction with
a term of one business day.
‘Securities Lending’ Transaction means a Transaction when a security from your account is lent to us for an
exchange of cash collateral for fulfilling your obligation to cover insufficient cash in a definite currency in your
account.
‘Securities Borrowing’ Transaction means a Transaction when you borrow a security from us for an
exchange of cash collateral for fulfilling your obligation to settle for such security.
‘Overnight Securities Lending and/or Overnight Securities Borrowing’ mean Securities Lending and/or
Securities Borrowing Transactions with a fixed term of one business day. You are obliged to return borrowed
securities for an exchange of cash collateral at the end of the next business day or you are obliged to take
delivery of lent securities for an exchange of cash collateral at the end of the next business day.
6 These Terms are applicable to Clients who trade on margin.
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