Investium Limited ("the Company", "we", "our", or "us") operates under the trading name of FlexInvest. Registered in Cyprus (Registration number HE 412142), the Company is authorized and regulated by the Cyprus Securities and Exchange Commission ("CySEC") (License number 421/22).

Our commitment entails:

a. Providing a high standard of client service; and

b. Maintaining our reputation for credibility and accountability.

We value feedback on our service at all times. If you encounter any dissatisfaction with our services, we urge you to afford us the opportunity to rectify the issue. We are dedicated to investigating, addressing your concerns, and striving to ensure your satisfaction within our Application.

Should you find any aspect of our service unsatisfactory, we encourage you to reach out to our Customer Service Team at [email protected].

The following disclosures offer insights into:

The nature and risks associated with certain investment types.

Any words or phrases highlighted and not defined in this Disclosure Notice shall bear the same meaning as defined in our Terms & Conditions (as applicable).

This section aims to provide you with information concerning the nature and risks associated with certain investment types. However, it does not encompass all potential risks nor does it address how these risks may specifically relate to your individual circumstances. If you harbor any uncertainty regarding the suitability of our products for your situation, it is advisable to seek professional advice before engaging in trading activities.

We facilitate the opportunity for investing and dealing in the following products:

a. Transferable securities ("equities"), inclusive of shares, exchange-traded funds ("ETFs"), and Undertakings for Collective Investments ("UCITS"); and

b. Derivatives of Fractional Shares.

While our offerings cater to both retail and professional clients, it's important to recognize that investing in or dealing with any of the aforementioned products carries inherent risks. There is a possibility of capital loss, and you may not recoup your initial investment in its entirety.

Shares represent partial ownership in a company, thereby linking the shareholder's fate to that of the company. If the company performs well, share prices are likely to increase; conversely, if the company performs poorly, share prices may decline. In the event of a company's insolvency, ordinary shareholders are typically the last to receive compensation. However, they also stand to gain returns through dividends or share price appreciation if the company succeeds and maintains positive performance. It's essential to acknowledge that in extreme cases, a company may become insolvent, potentially resulting in a complete loss of investment value. Share prices are influenced by supply and demand dynamics, often driven by market perceptions of the company's future prospects. If market sentiment is pessimistic regarding a company's future, share prices may decrease, leading to a loss if sold at that juncture or if prices fail to recover, resulting in a lower return than the initial investment.

The value of investments and associated income levels can fluctuate, meaning you may not recoup the full amount invested. Additionally, it's crucial to understand that past share performance does not guarantee future performance.

Certain investments may pose challenges in terms of liquidity, making them difficult to sell at a reasonable price, or in some cases, at any price.

Investing in foreign markets introduces additional risks compared to EEA markets, with potential for greater risks. Profit or loss from transactions in foreign markets or foreign-denominated contracts can also be influenced by fluctuations in foreign exchange rates.

Some shares offer dividends, which are typically distributed semi-annually or quarterly, representing a portion of the company's profits as determined by its Board of Directors. Established, profitable companies often maintain a history of consistent dividend payments. However, during periods of economic hardship, even well-established companies may suspend dividend payments. Conversely, younger, less established companies focused on business expansion may opt to reinvest profits rather than distribute dividends. These companies, often referred to as "growth" companies, prioritize rapid business expansion as part of their strategy.

It's essential to recognize that the earning of dividends is never guaranteed. Whether and if there will be a dividend payout depends on various factors, including the financial performance of the underlying company, prevailing market conditions, the issuer's dividend policy, regulatory requirements, and economic trends. Additionally, the decision to distribute dividends rests entirely at the discretion of the issuer, and numerous internal and external factors may influence the timing and amount of dividends declared. Clients should also consider factors such as corporate governance practices, industry-specific conditions, and any contractual obligations that may affect dividend payments.

Furthermore, it's crucial to understand that investing in Derivatives of Fractions of Shares will typically exclude clients from receiving dividends. As these derivatives dop not represent actual ownership of the underlying shares or their factions, investors typically do not have the same entitlement to dividends as direct shareholders. Therefore, clients should carefully evaluate their investment objectives and consider the implications of forgoing dividend income when investing in such derivatives.

The Company shall not assume any responsibility for the payment or distribution of dividends to investors.

Commissions and charges imposed by ourselves or third parties have the potential to diminish potential profits or escalate losses. Prior to commencing trading activities, it is imperative that you comprehend all commissions and associated charges for which you will be responsible.

Market gapping refers to a sudden shift in the price of an instrument or its underlying asset from one level to another. Such occurrences can transpire at any moment but are most common when the market closes at one level and reopens at another. These abrupt price movements have the potential to result in unexpected losses.

We may facilitate transactions involving non-readily realizable investments. These investments operate in markets that are either illiquid, limited or have the potential to become so. Consequently, you may encounter challenges in selling such investments at a reasonable price. In certain circumstances, it may even prove difficult to sell them at any price. Therefore, it is crucial not to invest in these instruments unless you have thoroughly considered whether they are suitable for your investment strategy.

It's important to recognize that the prices of financial instruments you're dealing with are subject to fluctuations in the financial markets, which are beyond our control. Furthermore, past performance should not be relied upon as an indicator of future performance.

We, and/or our representatives, may occasionally conduct transactions on your behalf in securities subject to stabilization. Stabilisation involves artificially maintaining the market price of a security during the period when a new issue of securities is offered to the public. This practice may influence not only the price of the new issue but also the price of other securities associated with it.

Shares are offered by companies of varying sizes, operating in diverse industrial sectors and geographical locations, and listed on different stock markets. Liquidity is a crucial risk factor associated with investing in individual equities and is typically influenced by the market capitalisation (total value of issued shares) of the company and prevailing market conditions. Liquidity levels have the potential to fluctuate rapidly, and inadequate liquidity frequently limits trading in equities with smaller market capitalisations, commonly referred to as mid-cap and small-cap stocks.

Access to information on overseas investments is not as readily available to the public, and coverage of the subject in the financial pages of national press is often limited. Additionally, differing time zones may prevent you from obtaining real-time prices for overseas stocks during your relevant trading day. When investing in overseas markets, it's important to consider currency fluctuations. Profits or losses from stock performance can be easily offset by movements in currency exchange rates. Conversely, gains or losses on stocks could be amplified, leading to even larger outcomes.

The price of individual shares is subject to significant fluctuations, with the potential for rapid appreciation or decline. Shares can sustain prolonged periods of decline as well. The movement of share prices is influenced by the financial well-being of the company and overall economic and market conditions. The fluctuations in individual share prices can be substantial. Stock market investments generally exhibit higher volatility compared to most bond investments.

Shares purchased on the Alternative Investment Market (AIM), particularly those referred to as 'penny shares,' entail a higher risk of financial loss compared to other shares. This heightened risk stems from the less stringent listing requirements imposed on companies listed on AIM compared to those with full market listings. Additionally, penny shares typically exhibit a wider spread between their buying and selling prices. In situations where immediate sale is necessary, you may receive less than the initial purchase price due to limited liquidity. The prices of these shares can fluctuate rapidly, with the possibility of both downward and upward movements. Obtaining reliable information regarding their value or the extent of associated risks may also prove challenging.

In numerous marketplaces, such as shares traded on the London Stock Exchange, settlement occurs when counterparties simultaneously match shares traded with the exchange of cash. In contrast, in other marketplaces, such as those where derivatives are traded, upon making an initial investment, you are required to provide a sum of cash known as the margin, representing the value of the investment. If the price of the investment fluctuates thereafter, you may be required to provide additional cash, known as a margin call.

Derivatives of Fractional Shares refers to the service and/or financial instrument offered by the Company, as outlined in Clause 12 of the Terms & Conditions, enabling clients to invest in fractional units of shares through the use of Derivatives. This allows clients to participate in the performance of shares from an issuer by utilizing instruments that track the share price, available at a reduced purchase price compared to whole shares, specifically the pro rata share price of the underlying share. The financial instrument provides investors with access to fractional shares through derivatives that derive their value from the price of the underlying corporate share. It's important to note that Derivatives on Fractional Shares do not represent ownership of corporate shares.

A Derivative of Fractional Shares is a financial instrument:

(a) Whose value fluctuates in response to changes in a specified share price (the underlying);

(b) Traded over the counter (OTC) and are off-exchange financial instruments;

(c) Requiring either no initial net investment or a minimal initial net investment relative to other types of contracts that exhibit similar responses to changes in market conditions; and

(d) Settled at a future date.

Derivatives of Fractional Shares are over-the-counter (OTC) derivatives, meaning they are not listed on an exchange and are traded directly between parties. One significant risk associated with Derivatives of Fractional Shares is counterparty risk, which exposes a party to the possibility of its counterparty failing to fulfill its obligations under the derivative contract. These derivatives are not cleared through a central clearinghouse, so the rules and protections provided by exchanges and clearinghouses do not apply. Unlike transactions on highly liquid exchange markets, trading in OTC derivatives may involve increased risk because there is no exchange market available to close out an open position. Consequently, it might be challenging to liquidate existing positions or accurately assess their value resulting from an OTC transaction.

When engaging in trading Derivatives of Fractional Shares, you'll need to set aside collateral, also known as margin, to mitigate the risk of failing to meet your obligations under the derivative contract. The margin requirements are determined and outlined in the rules established and consented to by the parties involved in the derivative transaction. It's important to note that these margin requirements are subject to change based on various factors.

When you initiate positions in Derivatives of Fractional Shares with us, your assets may be subject to security interests established in our favour. These interests can be utilized to fulfill your obligations under the aforementioned derivative contracts.

If the market moves unfavourably against your position in a Derivative of Fractional Shares or margin requirements are raised, you may be required to provide significant additional funds on short notice to uphold your position. Failure to meet such requests for additional funds within the specified timeframe, or if you are unable to fulfill any other payment or delivery obligations, may result in the liquidation of your positions with minimal or no prior notification, potentially incurring losses. Any resulting deficit will be your responsibility to cover.

Halts in trading of the underlying share or other trading conditions such as volatility, liquidity issues, or system failures may render the trading market for a Derivative of Fractional Shares unavailable. In such instances, you may be unable to execute a closing transaction, and you remain obligated until settlement, delivery, expiration, or assignment under the derivative contract.

Derivatives of Fractional Shares are complex financial instruments and carry a high degree of risk. The derivative markets exhibit high volatility, and if not managed properly, substantial losses can occur. By engaging in transactions involving Derivatives of Fractional Shares, you acknowledge assuming additional obligations, including contingent liabilities, beyond the initial acquisition cost of such derivatives. Just like any high-risk financial instrument, it is essential not to invest funds that you cannot afford to lose. Vigilant monitoring of your derivative positions is imperative at all times.

We will comply in all respects with “best execution” on all orders executed through the Company in line with its regulatory requirements. This means that execution will be based on a price no worse than the prevailing bid/offer on the reference exchange as of the time of your order for all full share and fractional share components of a transaction. Any Order greater than one share that includes a fractional share component will be executed in a mixed capacity. The Company will act as a principal with respect to the fractional share components of any transaction by entering into a Transaction in Derivative(s) on Fractional Shares. Orders entered outside of regular trading hours cannot be executed.

We will ensure full compliance with "best execution" standards for all orders executed through the Company, in accordance with regulatory requirements. This entails executing orders at a price no less favourable than the prevailing bid/offer on the reference exchange at the time of your order, for both full share and fractional share components of a transaction. For orders exceeding one share that include fractional share components, they will be executed in a mixed capacity. The Company will act as an agent for the full share and as a principal for the fractional share component by engaging in a Transaction in Derivative(s) on Fractional Shares for the latter. Please note that orders placed outside regular trading hours cannot be executed.

The Company rounds all fractional investments to one decimal place. Rounding may impact your ability to receive dividends. For instance, if you invest in a Derivative of Fractional Shares based on 0.1 share of stock paying a 10-cent dividend per share, we will credit your account with a cash balance of one (1) cent. If there's a client money entitlement that cannot be allocated in whole cents, resulting in a residual amount of less than one (1) cent, we may write off this amount and donate it to a registered charity.

While we strive to round transactions as accurately as possible, we shall not be liable for any loss or damage resulting from such rounding, except in cases directly attributable to our negligence, fraud, wilful default, breach of contract, or violation of CySEC Rules.

You will not have voting rights for any of the Derivatives of Fractional Shares held in your account, and you will not be able to make voluntary elections on any corporate actions (including, without limitation, any tender offers or rights offerings) with respect to such Derivatives of Fractional Shares. We cannot provide clients with any other shareholder documentation for holdings of less than one Share. However, you will receive payments of dividends, or in some cases, in connection with stock dividends, either dividend shares or value commensurate with the dividend Shares, and will otherwise participate normally in any stock splits, mergers, or other mandatory corporate actions where applicable.

Derivatives of Fractional Shares are not transferable. If you close your Account or transfer your account to another firm, the Derivatives of Fractional Shares in your Account shall be liquidated. Similarly, Derivatives of Fractional Shares cannot be put into certificate form and mailed. Liquidations of Derivatives of Fractional Shares may result in additional charges.

If the open positions in your Account in Derivatives of Fractional Shares reach a quantity equivalent to a whole Share of the same actual Share, the Company reserves the right to transfer such whole Share to your Account and close your respective positions in Derivatives of Fractional Shares. You will be responsible to compensate us for any price or valuation differences that may arise due to such an exchange.

UCITS Exchange Traded Funds (UCITS ETFs) are bought and sold on regulated markets i.e., exchanges and the market price may differ from the net asset value (the total of all that fund’s investments per unit). UCITS ETFs are also subject to liquidity risk since some ETFs are less liquid and their liquidity can change significantly especially during abnormal market conditions.

UCITS ETFs involve the following risks including among others, general market risks relating to the relevant underlying index, exchange rate risks, interest rate risks, liquidity risks and legal risks. Such risks are described in section 5.3 below.

Exchange Traded Notes (ETNs) are a type of debt security designed to mirror the total return of an underlying market index or another benchmark. They are often unsecured, meaning they lack collateral since they do not hold the underlying asset. ETNs pose high risk for lenders, as there's uncertainty regarding whether the borrower will repay the full amount. These instruments can be held until maturity or traded freely. Unlike bonds, ETNs do not pay interest payments and their prices are volatile. Each ETN is accompanied by a Key Investor Document (KID), detailing the costs, investment policy, and risks associated with the product.

Investing in ETNs carries the risk of losing the entire invested amount, including transaction costs. There's also a risk of the issuer becoming insolvent and unable to fulfill the ETN's value. Additionally, the ETN may not generate profits sufficient to cover its transaction costs. Another associated risk is the potential difficulty in selling the position in the market at a desired time.

An Exchange Traded Commodity (ETC) is a debt instrument that tracks the performance of individual or multiple commodities, providing investors the opportunity to invest in assets such as gold, oil, metals, energy, and livestock. The value of ETCs is subject to fluctuations based on changes in the prices of the underlying commodities.

ETC issuers typically charge fees, which are embedded in the product and disclosed in the Key Investor Document (KID). Additionally, investors may incur additional broker fees. ETCs track the price movements of commodities or commodity indexes but do not confer ownership of the underlying assets. Consequently, investors in ETCs risk losing the entire invested amount, including transaction costs.

Margin trading carries a high level of risk and may lead to a loss of funds exceeding the amount deposited in your Account.

When you request margin trading services and we agree, intraday credit allowance will be provided to you, allowing you to purchase more financial instruments than the cash or securities balance in your Account would otherwise permit. The amount of financial instruments bought may significantly exceed the value of your initial deposit. It's important to understand that while such Transactions may offer greater profit potential, they also entail a higher degree of risk. With these trades, not only gains but also losses may be magnified.

In the event that the market value of the financial instruments in your Account declines, you may be required to deposit additional funds at short notice to maintain your line of credit. Failure to do so may result in us selling all or a portion of assets held in your Account without prior notice. Please note that you will not have the option to choose which assets in your Account will be sold; we reserve the right to decide which positions to sell in order to protect our interests.

The provision of margin facilities in your Account functions essentially as a loan, with interest charged on the outstanding balance of the loan. Interest charges will be applied to your Account, causing your debt level to increase over time. As your debt increases, so do the interest charges, creating a cycle. Therefore, the longer you hold an Investment, the greater the return needed to break even. Holding an investment on margin for an extended period tends to reduce the likelihood of making a profit.

We retain the right to mandate margin requirements or limits on your borrowing and to adjust these requirements or limits at any time without your consent. Failure to meet the established requirements or limits generally results in us selling assets in your Account.

Balances in your Account will be subject to security interests in our favour. In the event that you become unable to fulfill any payments or deliveries under the margined transactions, we reserve the right to sell your Assets and/or apply cash in your account to meet your obligations without prior notice. Additionally, you will be held responsible for any shortfall in your account following a forced sale.

Our service operates on an "execution-only" basis, wherein we solely execute your trading instructions. We do not offer advice or recommendations regarding the suitability of any investments, and nothing communicated by us should be construed as such. We do not provide investment, tax, or trading advice. As an "execution-only" service, we do not offer guidance on transactions or monitor your trading decisions to assess their appropriateness or prevent potential losses.

It is imperative that you seek your own financial, legal, taxation, and other professional advice to determine whether all aforementioned financial instruments and services are suitable investments for you. While we may provide factual information about our products, their associated risks, or general financial market conditions, we do not take into account your individual circumstances during such communication.

When investing in financial instruments you may be exposed to some or all of the risks described in this section below.

Price risk refers to the possibility of unforeseen fluctuations in the prices of securities and derivatives, which could lead to a significant decrease in the value of your financial instruments.

Market risk encompasses the potential for the value of financial instruments to fluctuate due to various factors, including but not limited to: changes in equity, debt, and commodity prices; fluctuations in exchange rates, interest rates, and other reference rates; as well as shifts in volatilities and correlations. These factors are influenced by a range of elements such as political instability, government policies related to trade, fiscal and monetary measures, exchange rate policies, overall market and industry conditions, and external environmental factors. There is no guarantee that you will not experience significant losses due to these factors.

Additionally, when engaging in trading activities on foreign markets, it's important to recognize that no domestic regulatory body will oversee the operations of such foreign markets, including the execution, delivery, and settlement of transactions. Furthermore, domestic regulators lack the authority to enforce the regulations of foreign markets or the laws of foreign countries. Moreover, the laws and regulations governing foreign markets may vary depending on the jurisdiction in which the transactions take place. Consequently, when trading on foreign markets, you may not have access to certain protections afforded by domestic transactions, including recourse to domestic alternative dispute resolution mechanisms.

Liquidity risk refers to the potential for losses arising from transactions involving securities and/or derivatives due to shifts in market sentiment regarding those investments. This risk may manifest when numerous investors rapidly sell securities and/or derivatives to close open positions, or when investing in unrated/non-publicly offered debt securities, as well as unlisted equities and debentures.

Issuer risk refers to the possibility of adverse events related to the issuer of financial instruments, such as insolvency, changes in credit ratings, or legal actions against the issuer. These events can lead to a significant decrease in the value of the issuer's financial instruments.

Credit risk pertains to the possibility of a borrower defaulting on a loan or failing to fulfill a contractual obligation. This risk is intricately linked to the expected return of an investment.

Currency risk refers to the potential negative impact on the value of securities or derivatives contracts due to fluctuations in the exchange rate between your base currency and other currencies. Foreign markets typically entail different risks compared to domestic markets, which may be greater or present additional or distinct risks compared to domestic markets or currencies. For instance, investing in foreign securities exposes you to the risk of exchange rate fluctuations. Additionally, when you deposit collateral denominated in one currency, you may face margin calls if the obligations secured by such collateral are denominated in another currency, adding to the risk of margin calls due to fluctuations in relative values.

Interest rate risk refers to the possibility that the value of an investment may fluctuate due to changes in the absolute level of interest rates, the spread between two rates, the shape of the yield curve, or any other relationship involving interest rates.

Commodity risk refers to the possibility of volatile commodity prices, which can fluctuate significantly due to various factors such as natural disasters (e.g., hurricanes, fires, earthquakes) or geopolitical conflicts. These events can disrupt the supply or production of commodities, leading to substantial price fluctuations.

Operations risk refers to the potential for losses resulting from errors or illegal activities committed by employees of organized markets, venues, custodians, registrars, financial services firms or clearing organizations during the settlement of securities or derivatives transactions.

Technical risk encompasses the possibility of failures occurring during the normal operation of the Application, trading systems and communication lines. These failures could include defects or malfunctions in equipment, IT software, power supply services, and other components, which may impede or prevent the transmission of orders, execution of transactions in securities, or entry into derivative contracts, as well as obtaining price information. Many open-outcry and electronic trading platforms rely on computer-based systems for various functions such as order routing, execution, matching, registration, or clearing of trades. Like any system, these platforms are susceptible to temporary disruptions or failures.

Your ability to recover losses resulting from technical failures may be subject to liability limits imposed by various parties, including the system provider, the market, the clearinghouse, or member firms, and these limits can vary. When conducting transactions on an electronic trading system, you are exposed to risks associated with the system's operation, including hardware and software failures. A system failure could result in your order being executed differently than instructed or not executed at all.

Tax risk pertains to the complexity of tax laws in various countries that may apply to you. It is essential to consider the tax consequences of your investments. The interpretation of tax laws or prevailing practices may change over time, potentially with retrospective effects. As an investor, you may receive taxable income in the form of distributions and/or capital gains from your investments. Therefore, it is advisable to seek guidance from a tax advisor to assess the impact of taxes on your investments.

Legal risk arises from the continuous and significant regulatory changes that markets undergo. It is challenging to foresee the statutory, administrative, or exchange alterations that may unfold in the future and their potential impact on your investment outcomes. For instance, off-exchange transactions may be subject to less regulation or governed by a distinct regulatory framework. Therefore, prior to engaging in any investment activity, it is essential to conduct thorough due diligence and seek appropriate legal advice.

In adherence to CySEC regulations, all client funds entrusted to us are held in segregated bank accounts. Although we meticulously monitor the creditworthiness of our selected banks, choosing only major international institutions renowned for their robustness and solidity, it's important to note that no bank is entirely risk-free. Upon request, we are happy to furnish you with details regarding the banks we engage with.

The Company does not and cannot guarantee the preservation of your portfolio's initial capital or its value at any given time, nor can it ensure the protection of any funds invested in financial instruments.

You fully acknowledge and accept that, irrespective of any information provided by the Company, the value of any investment may fluctuate both downwards and upwards, with the possibility that the investment may ultimately become worthless.

Moreover, you acknowledge and accept that engaging in trading financial instruments carries a significant risk of incurring losses and damages, and you declare your willingness to assume this risk.

It is imperative that you refrain from trading in financial instruments unless you possess a clear understanding of the nature of such trading, the specifics of the transaction you are entering into, and the true extent of your exposure to potential loss. To engage effectively in trading with Derivatives of Fractional Shares, it is essential to have experience in dealing with derivatives and a comprehensive understanding of the leveraged nature of such products.

A Derivative is a financial instrument:

(a) Whose value fluctuates in response to changes in a specified interest rate, security price, commodity price, foreign exchange rate, index of prices, credit rating, or similar variable (referred to as the underlying);

(b) That typically necessitates minimal initial net investment compared to other contracts with similar responses to market conditions;

(c) Settled at a future date.

The Company provides Clients with Derivatives of Fractional Shares, which are classified as off-exchange derivatives and are further elaborated on in section 2 above.

Off-exchange derivatives, also known as over-the-counter (OTC) products, are not listed on an exchange. A significant risk associated with off-exchange derivatives is counterparty risk, where a party is vulnerable to its counterparty's failure to fulfill obligations under the derivative contract. Unlike exchange-traded derivatives, some OTC derivatives are not cleared through a central clearinghouse, meaning that the rules and protections provided by exchanges and clearinghouses do not apply. As a result, transactions in off-exchange derivatives may carry higher risk because there is no exchange market available to close out an open position, making it potentially difficult to liquidate existing positions or assess their value.

Before engaging in derivative trading, you are typically required to provide collateral or margin to mitigate the risk of defaulting on your obligations under the derivative contract. Margin requirements are determined by market rules established by relevant exchanges or agreed upon between parties to a derivative transaction and may be subject to change.

When trading derivatives through a market intermediary like us, any cash or assets held with that intermediary may be subject to security interests established in favour of the intermediary and used to fulfill your obligations under derivative contracts.

In the event of adverse market movements or increased margin requirements, you may be required to provide additional funds promptly to maintain your position. Failure to meet such requests within the specified time frame or an inability to make payments may result in the liquidation of your positions without prior notice, potentially leading to losses for which you will be held liable.

You should be aware that the typical pricing relationships between the underlying asset and a derivative may not always hold true. This can lead to volatility in the price of the specific derivative contract and may result in limitations on the available market for such instruments. The absence of a clear underlying reference price can make it challenging to determine a fair value for the derivative.

Trading halts in the underlying security or other adverse trading conditions, such as volatility, liquidity issues, or system failures, can render the trading market for a derivative unavailable. In such cases, you may be unable to execute a closing transaction, leaving you obligated until settlement, delivery, expiration, or assignment under the derivative contract.

It is important to thoroughly understand the terms of the specific derivative contracts you are trading and the associated obligations. Under certain circumstances, the specifications of outstanding contracts may be modified by the issuing Counterparty to reflect changes in the underlying assets.

Derivatives are complex financial instruments that carry a high degree of risk. The derivative markets are known for their volatility, and substantial losses can occur if not managed properly. By engaging in derivative transactions, you assume additional obligations, including contingent liabilities, beyond the initial cost of acquiring such derivatives. As with any high-risk financial instrument, you should only invest funds that you can afford to lose and carefully monitor your derivative positions at all times.

Last updated: 21 May 2024