Deliverable FX
Service Agreement
Effective Date: March 2024

Contents
1. DEFINITIONS AND INTERPRETATION .................................................................................................................... 1
2. INTRODUCTION ........................................................................................................................................................ 2
3. OUR RELATIONSHIP ................................................................................................................................................ 4
4. OUR SERVICES ......................................................................................................................................................... 4
5. YOUR ACCOUNT ....................................................................................................................................................... 4
6. ORDERS ..................................................................................................................................................................... 4
7. TRADES AND OBLIGATIONS ................................................................................................................................... 5
8. ACCOUNT BALANCE................................................................................................................................................ 6
9. COSTS AND CHARGES ............................................................................................................................................ 7
10. PAYMENT AND SET-OFF ....................................................................................................................................... 7
11. TREATMENT OF YOUR MONEY ............................................................................................................................ 8
12. EVENTS OF DEFAULT ............................................................................................................................................ 8
13. REPRESENTATIONS AND WARRANTIES ............................................................................................................ 8
14. FORCE MAJEURE EVENTS.................................................................................................................................... 9
15. COMPLAINTS PROCEDURE .................................................................................................................................. 9
16. DATA PROTECTION AND PRIVACY .................................................................................................................... 10
17. AMENDMENTS ...................................................................................................................................................... 10
18. TERMINATION ....................................................................................................................................................... 10
19. GOVERNING LAW ................................................................................................................................................. 11

LMAX Global Deliverable FX Service Agreement
Effective Date: March 2024

DEFINITIONS AND INTERPRETATION
1.1

In this Agreement, the following definitions apply.
Account has the meaning given to it in Term 5 (Your Account).
Agreement has the meaning given to it in Term 2.2 (Our Agreement).
Approved Bank means a central bank, a CRD credit institution or a bank authorised in a third country.
Account Balance means the sum of your cash balance on your LMAX Direct FX GUI account.
Base Currency means pounds sterling (£), unless otherwise agreed with you.
Default Interest Rate means a rate of 4% per annum simple above the base rate of the Bank of England or,if the sums are due in a currency other than sterling, 4% per annum simple above the base rate of the central
bank for that currency, provided that if the relevant base rate cannot be established for any reason, we shallacting reasonably at all times set the Default Interest Rate by reference to the base rate of an alternative
central bank.
Deliverable FX Contract means a physically settled spot or forward FX contract referencing particularcurrency pairs.
Event of Default has the meaning given to it in Term 12 (Events of Default).
FCA means the United Kingdom's Financial Conduct Authority or any successor entities.
FCA Rules means all rules, requirements, directions and guidance issued by the FCA, as amended fromtime to time.
FSMA means the Financial Services and Markets Act 2000.
GUI or LMAX Direct FX GUI means the graphical user interface as we make available to you from time totime which gives you access to an online trading account in order to submit and order in a Deliverable FX
Contract.
Instrument means a Deliverable FX Contract.
Instrument Information means the information provided for each Instrument on the GUI.
Maximum Trade Size means a limit restricting the total size of trade that you may place in any Instrument at
any given time which may be amended by us in our absolute discretion.

LMAX Global is a trading name of LMAX Broker Limited which is authorised and regulated by the Financial Conduct Authority as an Investment Firm
(firm reference number 783200) and is a company registered in England and Wales (number 10819525). LMAX Global is part of the LMAX Group, whose
registered address is Yellow Building, 1A Nicholas Road, London W11 4AN.
1

Order means an order or instruction submitted to us.
Trading App means our trading application downloaded by you to supported mobile devices and which
provides mobile access to our trading services.
Trading Hours means the hours that LMAX Global is open for business to accept Orders.
Website means our website at www.LMAX.com/Global and the GUI we make available to you.
1.2

In this Agreement:(a)a Clause is a reference to a Clause of this Agreement;(b)references to LMAX Global, we, us, our and ours (as appropriate) are references to us, LMAX Broker
Limited;(c)references to you, your and yours (as appropriate) are references to you, our client;(d)

any reference to a rule, enactment, statute or statutory provision is a reference to it as it may havebeen, or may from time to time be, amended, modified, consolidated, re-enacted or replaced and to
any statutory instruments, orders or regulations made thereunder or under any such re-enactment;(e)words or phrases importing the singular include the plural and vice versa;(f)words or phrases importing the masculine include the feminine and vice versa;(g)references to the words includes or including are to be construed without limitation; and(h)a word or expression related to a defined term has a consistent meaning to the defined term.

Unless otherwise stated, all dates and times stated herein are references to the date or time of the United
Kingdom, taking account of changes between Greenwich Mean Time and British Summer Time.

INTRODUCTION
2.1.

About us. LMAX Broker Limited, trading as LMAX Global, is authorised and regulated by the Financial
Conduct Authority with registration number 783200. The FCA’s registered address is 25 The North
Colonnade, London, E14 5HS. Our company number is 10819525 and our registered address is Yellow
Building, 1A Nicholas Road, London, W11 4AN. You may communicate with us by email(info@LMAX.com/Broker), by telephone (+44 203 192 2555) or otherwise as set out in Term 19(Communications and Notices) of the Terms of Business.

2.2

Our Agreement. This LMAX Global Deliverable FX Service Agreement (the “DFX Agreement”) shall beentered by you for the purpose of utilising the LMAX Global Deliverable FX service which allows you to
submit an order to us (“a DFX Order”) to purchase one currency with another and receive such purchased

LMAX Global is a trading name of LMAX Broker Limited which is authorised and regulated by the Financial Conduct Authority as an Investment Firm (firmreference number 783200) and is a company registered in England and Wales (number 10819525). LMAX Global is part of the LMAX Group, whose
registered address is Yellow Building, 1A Nicholas Road, London W11 4AN.
2

currency,. This DFX Agreement will apply in conjunction with the Terms of Business and will form part of ouragreement (Agreement) with you, also comprising the following documents, as amended by us from time to
time:
(a)

the completed account opening documentation you provided to us;(b)Instrument Information;(c)

Privacy Policy;(d)

Cookie Policy;(e)Summary Conflicts of Interest Policy; and(f)

any further or separate arrangement that may be entered into between us, such as an API
Agreement.

The latest published versions of these documents (excluding any further or separate arrangement that we
may have entered into with you) are available from our Website.
2.2.

This DFX Agreement will apply in conjunction with the Terms of Business and will form part of our agreementwith you. All relevant Terms from the Terms of Business including but not limited to our relationship, indemnity
and liability, representations and warranties, communications and notices, website, conflicts of interest, force
majeure events, governing law, data protection and privacy, and confidentiality, will apply to the DFX
Agreement. It is important that you familiarise yourself with all applicable Terms before you place a DFX
Order.

2.3.

This DFX Agreement will come into effect on the date that we open your Account. Any new version of thisAgreement will supersede any earlier versions and we will notify you of the date that any new version will
come into effect. The new version will apply to all trades entered into with us after that new version comes
into effect. By submitting Orders to us after the date of the new version, you agree to the terms of such newversion.

2.4.

Unless separately defined in this DFX Agreement, words and expressions have the same meaning as in theTerms of Business. If there is an inconsistency between the DFX Agreement and the Terms of Business, theterms of the Terms of Business will prevail except where expressed specified otherwise in this Agreement.

2.5.

FCA Rules. For the purposes of these Terms, applicable laws and regulations shall include the FCA Rules,
the rules of any other relevant regulatory authority or exchange and any applicable laws, rules, procedures,
guidance, codes, standards and regulations (including, without limitation, accounting rules and anti-money
laundering or sanctions legislation) in force from time to time. Nothing in this Agreement will exclude or restrict
any duty or liability owed by us or any Related Persons to you under FSMA or the FCA Rules.

LMAX Global is a trading name of LMAX Broker Limited which is authorised and regulated by the Financial Conduct Authority as an Investment Firm
(firm reference number 783200) and is a company registered in England and Wales (number 10819525). LMAX Global is part of the LMAX Group, whose
registered address is Yellow Building, 1A Nicholas Road, London W11 4AN.
3

2.6

English. The Terms of Business are supplied to you in English and we will communicate with you in English
for the duration of these Terms of Business. If there is any conflict between the English version of thisdocument and any other language version, the English version will prevail.

OUR RELATIONSHIP
3.1.

Your capacity. You will trade with us as principal and not as agent for any person. You will be directly andpersonally responsible for performing your obligations under this Agreement, whether you are dealing with
us directly or through an agent. Notwithstanding any assertion that you act in connection with or on behalf of
any other person, we will not accept that person as a client of ours and neither we nor our Related Persons
will accept any obligation or liability to them.

OUR SERVICES
4.1

Trading services. We provide trade execution services in respect of certain Instruments. When executing
Orders, we will do so in accordance with FCA Rules.

4.2

Execution only dealings. Dealings with you will be carried out by us on an execution only basis.

4.3

No personal recommendations or advice. We do not make any personal recommendation to you nor advise
you on the merits of any particular transaction or any aspect of your trading with us. We give you no warranty
as to the suitability of any transactions or any aspect of your trading with us.

4.4

No tax advice. We will not provide you with tax advice.

4.5

Compliance with rules. We may take or omit to take any action we consider necessary to ensurecompliance with FCA Rules.

YOUR ACCOUNT
5.1.

Account information. Upon an LMAX Deliverable FX account being opened for you (your Account), youwill be given a unique account number. We will ask you to choose a username, password and other security
information for your Account. We will rely on this information to identify you and you agree that you will notdisclose these details to any person not duly authorised by you.

ORDERS
6.1

How to open or close a trade. To open or close a trade to buy or sell an Instrument, you must first submit
an Order to us. You may submit an Order:a) online via the GUI;b) via a Software Bridge;c) via the Software Trading Tools; orLMAX Global is a trading name of LMAX Broker Limited which is authorised and regulated by the Financial Conduct Authority as an Investment Firm (firmreference number 783200) and is a company registered in England and Wales (number 10819525). LMAX Global is part of the LMAX Group, whose
registered address is Yellow Building, 1A Nicholas Road, London W11 4AN.
4d) by speaking to us on the telephone during our Helpdesk Hours.
You cannot submit an Order by leaving a message on any automated voicemail or answering service or
through a live chat system service. We shall not accept and shall not be under any obligation to execute any
Order submitted by these means.
6.2

Accepting Orders. We are under no obligation to accept or execute any Order you submit. However, weshall normally do so, provided:a) your Account contains sufficient resources to cover any Order;b) you are not otherwise in breach of our Terms of Business and/or this Agreement; andc) it is possible to execute such Order.
Factors such as the size of your Order and liquidity available in the Instrument you wish to trade will impact
whether and when it is possible to execute your Order. It may not be possible to execute your Order
immediately.

6.3

Acknowledging receipt. We shall acknowledge receipt of each Order we receive and accept from you via
the methods listed in Term 6.1 (How to open or close a trade).

6.4

Trading Hours. We shall act on Orders only during Trading Hours and we shall deal with any Orders
received outside Trading Hours as soon as reasonably practicable after Trading Hours resume.

6.5

Maximum Trade Size. We have the right in our absolute discretion to set a Maximum Trade Size.

6.6

Cancelling or amending Orders. You may, with our consent, cancel or amend all or any part of your Orderso long as we have not acted upon it or the relevant part. Notwithstanding this, if your Order is an opening
order you may amend any related contingent Orders.

TRADES AND OBLIGATIONS
7.1

You may submit a DFX Order through our deliverable FX Platform or by speaking to us on the telephone
during our helpdesk hours or at our discretion in writing via email.

7.2

Your DFX Order will be filled at the best available price which will be inclusive of a commission paid to us.

7.3

Where you execute a DFX order by the telephone we shall send a contract note to you to confirm the detailsof your successfully executed trade on the date your DFX Order is filled. You agree that any contract notes
will be delivered to you electronically in writing to the email address we hold for you.

LMAX Global is a trading name of LMAX Broker Limited which is authorised and regulated by the Financial Conduct Authority as an Investment Firm
(firm reference number 783200) and is a company registered in England and Wales (number 10819525). LMAX Global is part of the LMAX Group, whose
registered address is Yellow Building, 1A Nicholas Road, London W11 4AN.
5

7.4

Where you execute a DFX order via our Deliverable FX Platform you will receive details of the executed
trade on the platform immediately after you trade. You may also receive a contract note delivered to youelectronically in writing to the email address we hold for you.

7.5

In the case of discrepancies, errors or omissions in a contract note or where trading on the LMAX Direct FXGUI, the contract note shown on your screen immediately after executing a trade you must contact us
immediately but in any event no later than 24 hours after the trade. You agree that failure to notify us about
any such discrepancies, errors or omissions shall not (a) invalidate the trade and (b) allow you to amend
such trade at a later date.

7.6

You will from time to time submit a DFX Order to us which will result in the delivery of foreign currency toyour specified bank account subject to this DFX Agreement.

7.7

Every time you place a DFX Order, unless otherwise agreed, sufficient funds should be available on yourAccount to cover the full amount of currency that you wish to buy which shall include the commission paid to
us. On condition that there are sufficient funds available on your Account, the purchased currency will besent to your specified bank account on the relevant Settlement Date. The “Settlement Date” shall mean thedate on which the currency you have bought and specified in the contract note shall be delivered by us.

7.8

In the event insufficient funds are available in your Account at the time of the trade or on the Settlement Date
we reserve the right to refuse to execute your DFX Order or if already executed either (i) reverse the tradeat the current market price and debit your Account with any losses incurred, or (ii) roll the trade to extend theSettlement Date and allow you to send the residual funds required to settle the trade.

7.9

We will pay to you the amount due and agreed in the relevant contract note on the Settlement Date providing
sufficient funds are available on your Account. You agree that banks have designated working hours, after
which they will not accept same-day payment instructions. It is your responsibility to be aware of and where
necessary comply with such designated working hours. All payments you make to us in respect of any trades
pursuant to this DFX Agreement are to be made in full without set-off, counterclaim or deduction whatsoever.

7.10

We may set-off against any positive cash balance in your Account, or against any other sums due to you,any sums due to us by you in accordance with Term 16.4 of the Terms of Business.

ACCOUNT BALANCE
8.1

Base Currency. Your Available to Trade Balance will be displayed in your Base Currency. All payments dueto
us will be notified to you in your Base Currency. If you make a payment in a different currency to that of yourBase Currency it shall be converted to your Base Currency by our third-party payment provider at the time thepayment is received.

8.2

Where you open a trade in an Instrument that is not in your Base Currency, we shall during Trading Hours
notionally convert:a) the amount required to execute your order; andb) any charges including commission

LMAX Global is a trading name of LMAX Broker Limited which is authorised and regulated by the Financial Conduct Authority as an Investment Firm (firmreference number 783200) and is a company registered in England and Wales (number 10819525). LMAX Global is part of the LMAX Group, whose
registered address is Yellow Building, 1A Nicholas Road, London W11 4AN.
6

for that trade to your Base Currency using our prevailing exchange rate for that purpose. Your AccountBalance and its components will therefore be valued in your Base Currency at all times during Trading Hours.

COSTS AND CHARGES
9.1

Commission. We shall debit your Account with the commission payable by you upon your opening or closing
a trade as the case may be. Unless otherwise agreed commission and charges such as transfer charges due
in respect of a Transaction shall be included in the price of the trade specified in the contract note.

9.2

In the event insufficient funds are available on the Settlement Date additional charges may apply which will
be required to either reverse the trade at the current market price or roll the trade to extend the Settlement
Date in accordance with clause 4.5 of the DFX Agreement.

PAYMENT AND SET-OFF
10.1

Remittance of cleared funds. You may request that the whole or part of any cleared funds that form partof your cash balance be remitted to you. However, we will be under no obligation to pay any money to you
if doing so would infringe or contravene any legal or regulatory obligation upon us.

10.2

Interest. You agree to pay interest to us on any sums due to us that you fail to pay when due. Interest willaccrue on a daily basis from the due date until the date on which payment is received in full, at the Default
Interest Rate.

10.3

Payment by debit or credit card. Subject to Term 1.1 (Source of funds) above, we shall credit your Accountfor any sums you pay to us by credit or debit card in your name upon such payment being authorised by yourcredit or debit card provider. However, we reserve the right to charge you interest at the Default Interest Rateon these sums from the date of authorisation to the date when we receive these sums as cleared funds fromyour credit or debit card provider.

10.4

Errors. If we credit or debit a payment to your Account in error, we shall immediately upon discovering theerror, reverse any such credit or debit and your Balance will be adjusted accordingly. In the case of anincorrect credit on your Account, if there are insufficient funds on the Account to enable us to recover theincorrect credit we may cancel any or all of your working Orders.
We may also take steps to recover the sum due to us and until such time as the sum has been paid refuse
to accept future Orders from you.

TREATMENT OF YOUR MONEY
11.1

Approved Bank. We will deposit money received from you in a bank account held with an Approved

Bank.
11.2

Payments. Any monies sent by you to us by debit or credit card will be transmitted through a regulated
payment service provider. Accordingly, any online payment by you will result in your funds being transferredfirst to the payment service provider and subsequently to us.

LMAX Global is a trading name of LMAX Broker Limited which is authorised and regulated by the Financial Conduct Authority as an Investment Firm
(firm reference number 783200) and is a company registered in England and Wales (number 10819525). LMAX Global is part of the LMAX Group, whose
registered address is Yellow Building, 1A Nicholas Road, London W11 4AN.
7

11.3

Settlements. We may debit any amounts credited to your Account to settle any fees outstanding in relation
to such trades. You acknowledge and confirm that any such debited amounts will cease to be funds under oursafeguarding requirements and you will have no rights, title or interest in any such amounts.

11.4

Interest. We shall not pay interest to you on any of your money that we hold and by entering into thisAgreement you acknowledge that you are therefore waiving any entitlement you may have an interest to thesafeguarded funds.

EVENTS OF DEFAULT
12.1

This clause 12 shall apply in addition to Term 23 of the ToBs (Events of Default). You agree that the Eventsof Default as defined in Term 23 of the Terms of Business will apply to the DFX Agreement and that we havethe right to take all steps and actions defined therein.

12.2

In addition to clause 7.1, we have the right to cancel any or all of your DFX Orders, terminate this DFX
Agreement and/or close your Account(s) if:a)you fail to make any payment in respect to a DFX Order, when due and in accordance with the DFX
Agreement; orb)

you materially breach any of the terms and conditions of the DFX Agreement, or fail to comply with yourobligations to us or breach any applicable statute or regulation; orc)it becomes or may become unlawful for us to maintain or give effect to all or any of the obligations under
the DFX Agreement or otherwise to carry on its business or if we are requested to close out atrade (orany part thereof) by any regulatory authority whether or not the request is legally binding or we in ourabsolute discretion consider it desirable or necessary to do so for our own protection; ord)any of the events specified above or anything comparable thereto occurs under the laws of any
applicable jurisdiction.

12.3

If you become aware of the occurrence of any event referred to in clauses 14.1 and 14.2 above, you shallnotify us of such event forthwith.

12.4

You agree to pay interest to us on any amount due that you fail to pay when due as specified in Term 16.8of the Terms of Business.

12.5

Notwithstanding the foregoing, we shall reasonably endeavour to notify you of any action or step that we
may take pursuant to our rights under this clause.

REPRESENTATIONS AND WARRANTIES
13.1

Representations and warranties. In additional Term 25 of the ToBs (Representations and warranties), youfurther represent and warrant to us that:

LMAX Global is a trading name of LMAX Broker Limited which is authorised and regulated by the Financial Conduct Authority as an Investment Firm (firmreference number 783200) and is a company registered in England and Wales (number 10819525). LMAX Global is part of the LMAX Group, whose
registered address is Yellow Building, 1A Nicholas Road, London W11 4AN.
8a) you (i) are acting as principal when you are placing a DFX Order, (ii) have full power and authority to placea DFX Order, and (iii) are the beneficial owner of all monies paid or to be paid to us which are freefrom any
charge or encumbrance; andb) a DFX Order is submitted for commercial purposes only and not investment purposes (as contemplatedby
the Financial Services and Markets Act (Regulated Activities) Order 2001); andc) You undertake to provide us, upon request, any and all information that we may require, or consider
necessary or desirable, to provide to any relevant governmental or regulatory authority in relation to antimoney laundering laws and regulations.
13.2

Repetition and Event of Default. You agree that each of the representations and warranties in this Clause
13 and in Term 14.1 (Representations and Warranties) of the Terms of Business shall be deemed repeatedeach time you submit an Order to us. You must advise us immediately if you cannot give such
representations and warranties at any time. A failure to so advise us and breach of any one or more of
the representations and warranties set out above is an Event of Default under Term 22.11 (Event of Default)of the Terms of Business.

FORCE MAJEURE EVENTS
14.1

Determination. If we determine that a Force Majeure Event has occurred, we may, without notice, acting
reasonably at all times,(a)suspend or modify the application of all or any of the Terms of these Terms of Business to the extent
that the Force Majeure Event makes it impossible or impracticable for us to comply with the Term or
Terms in question; and/or(b)close or reverse any or all of your working Orders.

COMPLAINTS PROCEDURE
15.1

How to make a complaint. If you wish to make a complaint against us, you should advise us of the complaint
immediately. In order to allow us to investigate your complaint promptly and effectively, please provide us
with full details of the circumstances giving rise to your complaint including, if applicable, details of the timeand date of any relevant actual or purported trade. We reserve the right not to commence investigations until
such details are provided. We will investigate the complaint promptly and fully in accordance with ourcomplaints handling procedure. A copy of our complaints handling procedure can be found on theWebsiteand a paper copy is available on request.

15.2

Timeframe. We will try to resolve your complaint immediately, and with minimum inconvenience to you.
Where we have not been able to resolve the matter, we will provide a written acknowledgement of yourcomplaint by close of business three business days following receipt of your complaint. The
acknowledgement will provide details of who will investigate your complaint and what their contact details
are, what our understanding of your complaint is and what our complaint procedures are. We will then send

LMAX Global is a trading name of LMAX Broker Limited which is authorised and regulated by the Financial Conduct Authority as an Investment Firm
(firm reference number 783200) and is a company registered in England and Wales (number 10819525). LMAX Global is part of the LMAX Group, whose
registered address is Yellow Building, 1A Nicholas Road, London W11 4AN.
9

you a written response within 8 weeks.

DATA PROTECTION AND PRIVACY
16.1

Privacy Policy and Cookie Policy. We shall process any data we receive from you or about you in
accordance with our Terms of Business, Privacy Policy and Cookie Policy. Our Privacy Policy sets out theterms on which we process any personal data we collect from you, or that you provide to us, and our Cookie
Policy provides information on the cookies we use and the purposes for which we use them. Our Privacy
Policy and Cookie Policy are available on our Website. By using our Website you consent to suchprocessing of personal data and use of cookies, and you warrant that all data provided by you is accurate.

16.2

Contact. You authorise us to contact you by email, telephone or post in order to discuss any aspect of ourbusiness. If you do not wish us to so contact you for any direct marketing activities, you must inform in writing
either by email or post. Our email address and postal address (which is also our registered address) is at theback of our Terms of Business.

AMENDMENTS
The version of the Deliverable FX Agreement posted on the Website is the version in force at any given time.
We may amend any of the terms of this Agreement at any time. Any amendment will be made by posting theamended version of this Agreement on the Website. Any amendment will be effective as from the effective
date as published on the Website and it will apply to all working Orders and all new and existing trades asfrom the effective date. The effective date will, where reasonably practicable, be at least 10 Business Days
after the date of posting. We will inform you of the posting on the Website of any amended version of thisAgreement, and the date upon which it becomes effective. We will not send you a paper copy of any newversion unless you request that we do so. You must make sure that, before submitting an Order, you are
happy for such Order and any subsequent trade to be governed by the latest version of this Agreement.

TERMINATION
18.1

This Agreement may be terminated by either party upon giving the other party written notice of termination,
which will take effect immediately, unless otherwise specified in the notice. Any such termination will notaffect any obligation that may already have been incurred by either party in respect of any outstanding tradeor any legal rights or obligations that may already have arisen under this Agreement, in the Terms of Businessor any dealings made thereunder. Upon termination, all pending orders will be closed unless otherwise
agreed by us, and all sums due from you to us will become immediately payable.

18.2

A termination of the Terms of Business by either party in accordance with Term 34.1 therein shall also havethe effect of terminating this Agreement.

18.3

LMAX Global is likely to terminate this Agreement immediately by written notice where:a) you have materially and seriously breached any term of these Terms of Business; orLMAX Global is a trading name of LMAX Broker Limited which is authorised and regulated by the Financial Conduct Authority as an Investment Firm (firmreference number 783200) and is a company registered in England and Wales (number 10819525). LMAX Global is part of the LMAX Group, whose
registered address is Yellow Building, 1A Nicholas Road, London W11 4AN.
10b) we have terminated the Terms of Business with immediate effect in accordance with Term 34.3 therein.

GOVERNING LAWThis Agreement and each trade entered into with you is in all respects governed by English law and thecourts of England and Wales will have the non-exclusive jurisdiction to settle any disputes arising out of or inconnection with this Agreement (including a dispute or claim relating to any non-contractual obligation arisingout of or in connection with it). Each party agrees to waive any objection to the English courts, whether on the
grounds of venue or that the forum is not appropriate. Nothing in this Agreement will prevent us frombringing
proceedings against you in any other jurisdiction.

LMAX Global is a trading name of LMAX Broker Limited which is authorised and regulated by the Financial Conduct Authority as an Investment Firm
(firm reference number 783200) and is a company registered in England and Wales (number 10819525). LMAX Global is part of the LMAX Group, whose
registered address is Yellow Building, 1A Nicholas Road, London W11 4AN.
11