Document:

exv10w25

Exhibit 10.24

Confidential Treatment has been requested for portions of this exhibit. The copy filed herewith
omits the information subject to the confidentiality request. Omissions are designated as “***”. A
complete version of this exhibit has been filed separately with the Securities and Exchange
Commission.

RBS          

The Royal Bank of Scotland

FX PRIME BROKERAGE MASTER AGREEMENT

IN RESPECT OF THIRD PARTY TRADING PLATFORM

SERVICES

 

 

CONTENTS

	 	 	 	 	 
	Clause	 	Page
	1. Interpretation
	 	 	3
	 
	2. Appointment of Customer as Agent of Prime Broker
	 	 	5	 
	3. Prime Broker Counterparty Transactions
	 	 	6	 
	4. Customer Transactions
	 	 	7	 
	5. Unauthorised Transactions
	 	 	7	 
	6. Representations and Undertakings
	 	 	8	 
	7. Indemnity and Exclusions of Liability
	 	 	8	 
	8. Commission
	 	 	9	 
	9. Material Interests
	 	 	10	 
	10. Confidentiality
	 	 	10	 
	11. Instructions
	 	 	10	 
	12. Notices
	 	 	11	 
	13. Termination
	 	 	11	 
	14. Conflict of Agreements and Inconsistency
	 	 	11	 
	15. Amendments
	 	 	12	 
	16. General
	 	 	12	 
	17. Governing Law
	 	 	13	 
	 
	 	 	 	 
	Schedule
	 	 	 	 
	 
	 	 	 	 
	1. Platform Provider
	 	 	14	 
	2. Eligibilty Criteria, Spread and Commission
	 	 	15	 

2

 

THIS AGREEMENT is made on the 6th day of December 2006

BETWEEN

	(1)	 	The Royal Bank of Scotland pIc, a company incorporated under the laws of Scotland, whose
registered office is 36 St Andrew Square, Edinburgh EH2 2YB acting through its Global Banking &
Markets division situated at 135 Bishopsgate, London EC3M 3UR (the “Prime Broker”); and
	 
	(2)	 	Gain Capital Group, LLC incorporated under the laws of Delaware whose registered
office/principal place of business is at 550 Hills Drive Bedminster, NJ 07921 (the “Customer”).

WHEREAS

	(A)	 	The Customer may utilise the Platform Trading Service (as defined below) subject to
compliance with the terms of the User Agreement, including having in place an FX Prime Brokerage
Master Agreement with the Prime Broker.
	 
	(B)	 	This Agreement is an FX Prime Brokerage Master Agreement.
	 
	(C)	 	The Prime Broker may establish dealing relationships with various Counterparties (as defined
below) setting out the basis upon which the Prime Broker may appoint an agent to engage in
Transactions on behalf of the Primer Broker with each Counterparty on the Platform Trading
Service.
	 
	(D)	 	The Prime Broker hereby wishes to appoint the Customer as its agent in respect of certain
Counterparties for the purposes set out in (C) above, and to trade with the Customer as principal,
strictly on the terms, conditions and limits expressly stated below.

IT IS AGREED THAT:

1. INTERPRETATION

In this Agreement:

“Affiliate” means, in relation to a party, any other entity which directly or indirectly Controls,
is Controlled by, or is under direct or indirect common Control with, that party from time to time.

“Agreement” means this FX Prime Brokerage Master Agreement.

“Authorised Counterparty Transaction” means a Counterparty Transaction:

	(i)	 	entered into by the Customer within its authority under clause 2; or
	 
	(ii)	 	in the case of a Prime Broker Counterparty Transaction, entered into in accordance with the
Customer’s undertakings under clause 3.3.

“Authorised Customer Transaction” means a Customer Transaction entered into under clause 4 pursuant
to an Authorised Counterparty Transaction.

3

 

“Business Day” means any day (other than a Saturday or a Sunday) on which banks in London are open
for business.

“Commission” means such commission as may be specified in Schedule 2, as amended from time to time.

“Confidential Information” has the meaning set out in clause 1 0.1.

“Control” means that a person possesses, directly or indirectly, the power to direct or cause the
direction of the management and policies of the other person, whether through the ownership of
voting shares, by contract or otherwise, and “Controls” and

“Controlled” shall be interpreted accordingly;

“Counterparty” means any person with whom the Customer may enter, enters or has entered into a
Counterparty Transaction (which may include the Prime Broker).

“Counterparty Master Agreement” means any master agreement governing Transactions between the Prime
Broker and a Counterparty, as amended and supplemented from time to time.

“Counterparty Transaction” means a Transaction entered into by the Customer as agent for the Prime
Broker pursuant to clause 2.

“Customer Master Agreement” means the International Foreign Exchange Master Agreement, ISDA Master
Agreement, Foreign Exchange and Options Master Agreement, any other master agreement, or any other
agreement entered into between the Prime Broker and the Customer for the purposes of governing
Transactions, as amended and supplemented from time to time and subject to the terms of this
Agreement

“Customer Transaction” means a Transaction between the Prime Broker and the Customer pursuant to
clause 4.1.

“Eligibility Criteria” means the criteria set out in Schedule 2, as amended by notice from the
Prime Broker to the Customer from time to time.

“Eligible Transaction” means a Transaction whose terms comply with the Eligibility Criteria.

“Offsetting Transaction” has the meaning set out in clause 5.1 (a).

“Platform Provider” means each third party specified in Schedule 1, as amended by notice from the
Prime Broker to the Customer from time to time.

“Platform Trading Service” means the electronic platform operated by or on behalf of the relevant
Platform Provider which facilitates the execution of Transactions on a prime brokerage basis.

“Settlement Transaction” has the meaning set out in clause 5.1 (b).

“Spread” means such spread payable in respect of a Customer Transaction as may be specified in
Schedule 2, as amended by notice from the Prime Broker to the Customer from time to time.

4

 

“Transaction” means a foreign exchange transaction and/or such other transaction type which may be
executed through the Platform Trading Service as the Prime Broker may notify to the Customer from
time to time.

“Unauthorised Counterparty Transaction” means a Counterparty Transaction other than an Authorised
Counterparty Transaction.

“Unauthorised Customer Transaction” means a Customer Transaction arising in accordance with clause
5.1 pursuant to an Unauthorised Counterparty Transaction.

“User Agreement” means all and any agreements between the Customer and Platform Provider relating
to the Platform Trading Service from time to time, each as amended from time to time and including
any rules, codes, or other requirements of the Platform Provider relating to the Platform Trading
Service, as may be applicable to the Customer’s participation on the Platform Trading Service from
time to time.

References to the plural shall include the singular and vice versa, and references to schedules and
clauses shall be references to schedules to, and to clauses of this Agreement

2. APPOINTMENT OF CUSTOMER AS AGENT OF PRIME BROKER

	2.1	 	Subject to its compliance with the terms of this Agreement, the Customer may from time to
time enter into Counterparty Transactions as agent of the Prime Broker.
	 
	2.2	 	The authorisation of the Customer under clause 2.1 is expressly limited as follows:

	 	(a)	 	the Customer shall only have authority to enter into Counterparty Transactions
fulfilling the following criteria:

	 	(i)	 	each Counterparty Transaction shall be with a Counterparty;
	 
	 	(ii)	 	each Counterparty Transaction shall be made utilising the Platform Trading Service;
	 
	 	(iii)	 	each Counterparty Transaction shall be entered into in accordance with such terms as
may be agreed between the Platform Provider and the Customer, if any; and
	 
	 	(iv)	 	each Counterparty Transaction shall be an Eligible Transaction and for the avoidance
of doubt, the Customer shall have no authority under this Agreement to enter into any transaction as agent for or in any way bind the Prime Broker, or to hold itself out as having
authority to enter into any transaction as agent for the Prime Broker or in any way bind the
Prime Broker other than in accordance with this sub-clause (a).

	 	(b)	 	the Customer shall not have authority (and shall not hold itself out as having
authority):

	 	(i)	 	to vary the terms of, terminate, novate, assign or otherwise amend a Counterparty
Master Agreement; or
	 
	 	(ii)	 	to vary the terms of a pre-existing Counterparty Transaction.

	 	(c)	 	the Customer’s authority shall be suspended if and for so long as the Customer is in
breach of the User Agreement or the Customer Master 

5

 

	 	Agreement; and

	 	(d)	 	the Prime Broker may suspend, limit or terminate, the Customer’s authority under this
clause at any time by notice to any of the Customer, the Platform Provider, or a Counterparty (in
respect of the Customer’s authority in respect of that Counterparty) provided that the Prime
Broker may dispense with the giving of such notice in case of emergency.

	2.3	 	The Customer shall not make any representation or warranty relating to the Prime Broker or
the Customer’s authorisation under this Agreement, or hold itself out as agent of the Prime
Broker:

	 	(a)	 	to any Counterparty (except to the extent such representation, warranty or holding out
accurately reflects the authority of the Customer under this Agreement in relation to such
Counterparty); or
	 
	 	(b)	 	to any other person

without the prior written consent of the Prime Broker.

	2.4	 	The Prime Broker may amend the Eligibility Criteria at any time. Any such amendment shall
take effect immediately irrespective of whether the Customer is aware of such amendment. If it is
reasonably practicable to do so, the Prime Broker shall use reasonable commercial endeavours to
notify the Customer in advance of any amendment to the Eligibility Criteria. If it is not
practicable to provide advance notification of an amendment, the Prime Broker shall notify the
Customer of the amendment as soon as reasonably practicable after the change is made.
	 
	3.	 	PRIME BROKER COUNTERPARTY TRANSACTIONS
	 
	3.1	 	In the course of dealing on certain Platform Trading Services, as advised to the Customer by
Prime Broker, the Customer may enter into Counterparty Transactions to which the Prime Broker is
Counterparty (a “Prime Broker Counterparty Transaction”).
	 
	3.2	 	Where the Customer enters into a Prime Broker Counterparty Transaction, the parties agree
that:

	 	(a)	 	the Customer acts as principal and not as agent for the Prime Broker in relation to the
negotiation and agreement of the Prime Broker Counterparty Transaction; and
	 
	 	(b)	 	the resultant Prime Broker Counterparty Transaction shall be deemed to be a Transaction
between the Prime Broker acting in its capacity as Prime Broker under this Agreement and the
Prime Broker acting in the capacity of Counterparty, and such Transaction shall constitute a
Counterparty Transaction for all purposes of this Agreement (including without limitation for
the purpose of forming the terms of a Customer Transaction pursuant to clause 4).

	3.3	 	The Customer undertakes that:

	 	(a)	 	each Prime Broker Counterparty Transaction shall be entered into in accordance with the
terms of the User Agreement; and

6

 

	 	(b)	 	each Prime Broker Counterparty Transaction shall be an Eligible Transaction.

	4.	 	CUSTOMER TRANSACTIONS

	4.1	 	On entry by the Customer into a Counterparty Transaction, a Customer Transaction shall arise.
	 
	4.2	 	The terms of a Customer Transaction shall be as follows:

	 	(a)	 	the Prime Broker shall undertake obligations to and rights against the Customer such
that the Prime Broker has rights and obligations equivalent to those of the Counterparty under
the Counterparty Transaction, subject to paragraphs (c) and (d);
	 
	 	(b)	 	the Customer shall undertake obligations to and rights against the Prime Broker such
that the Customer has rights and obligations equivalent to those of the Prime Broker under the
Counterparty Transaction, subject to paragraphs (c) and (d);
	 
	 	(c)	 	if any Spread is set out in Schedule 2, the Spread shall be added to the payment obligation of the Customer under paragraph (a), and the right to payment of the Prime Broker
under paragraph (b); and
	 
	 	(d)	 	the Customer Trans,action shall be subject to and governed by the terms of the Customer
Master Agreement.

	4.3	 	Notwithstanding the provisions of clause 4.2, if the Customer enters into an Unauthorised
Counterparty Transaction, the Unauthorised Customer Transaction which arises pursuant to such
Unauthorised Counterparty Transaction shall be subject to the terms of clause 5 (Unauthorised
Transactions), and the Prime Broker shall have all rights and remedies relating to the
Unauthorised Counterparty Transaction and the Unauthorised Customer Transaction set out in this
Agreement or otherwise arising at law or in equity.
	 
	5.	 	UNAUTHORISED TRANSACTIONS
	 
	5.1	 	If the Customer enters into an Unauthorised Counterparty Transaction, the Prime Broker may
(but shall not be obliged to) take such steps as it considers desirable or necessary acting in its
sale discretion to discharge, offset, cancel or hedge its rights and obligations under the
Unauthorised Counterparty Transaction. Such steps may include (without limitation):

	 	(a)	 	entering into one or more Transactions or other transactions with a third party to
reduce or offset its obligations under the Unauthorised Counterparty Transaction (an “Offsetting
Transaction”);
	 
	 	(b)	 	entering into an agreement with the Counterparty to compromise, settle or cancel (in
whole or in part) the Unauthorised Counterparty Transaction (a “Settlement Transaction”);
	 
	 	(c)	 	
amending the terms of or cancelling the Unauthorised Customer Transaction to which the
Unauthorised Counterparty Transaction relates; or
	 
	 	(d)	 	amending the terms of or cancelling any unsettled Authorised Customer Transaction.

7

 

	5.2	 	The Customer hereby gives its consent to the amendment or cancellation of any Customer
Transaction under clause 5.1.
	 
	5.3	 	This Clause 5 shall survive termination of this Agreement
	 
	6.	 	REPRESENTATIONS AND UNDERTAKINGS
	 
	6.1	 	Each party represents and warrants to the other that:

	 	(a)	 	it is duly authorised and empowered to enter into and perform its obligations under or
in connection with this Agreement, the Transactions contemplated hereby;
	 
	 	(b)	 	this Agreement is a legally binding obligation binding on it and enforceable in
accordance with its terms;
	 
	 	(c)	 	all necessary authorities and authorisations (including without limitation any
regulatory or governmental consents or approvals) to enable or entitle it enter into this
Agreement and to perform its obligations hereunder are in full force and effect and will remain
in full force and effect at all times during the term hereof;
	 
	 	(d)	 	all information supplied to the other party is true, complete and accurate in all
material respects and it will advise the other party forthwith of any material change to any
information previously provided; and
	 
	 	(e)	 	it will comply with all applicable legal and regulatory requirements in each
jurisdiction in which it carries on business.

	6.2	 	The representations and warranties set out in clause 6.1 shall be deemed to be repeated on
each occasion on which the Customer acts as agent of the Prime Broker under this Agreement.
	 
	6.3	 	The Customer undertakes that it will act as principal and not as agent for any other person
in performing its duties and obligations under this Agreement (including without limitation the
entry into and performance of Customer Transactions), except as provided in clause 2.
	 
	7.	 	INDEMNITY AND EXCLUSIONS OF LIABILITY
	 
	7.1	 	Neither the Prime Broker nor any of its directors, officers, employees, nominees, delegates
or agents will be liable for any loss suffered or for any action taken or not taken pursuant to or
in the course of this Agreement, any Transaction or in connection with the Platform Trading
Service unless the Prime Broker or such other person is negligent or guilty of willful misconduct
or fraud.
	 
	7.2	 	The Customer shall fully and promptly indemnify the Prime Broker and any of its directors,
officers, employees, nominees, delegates or agents and will keep the Prime Broker and each of them
indemnified from and against any claims, proceedings, expenses, costs, losses, damages and
liabilities of every description (including legal fees, accountant’s fees, fines and penalties),
direct or consequential in nature, which may be sustained or incurred by, or asserted against them
directly or indirectly in connection with or arising out of:

	 	(a)	 	any act or omission of the Prime Broker in accordance with a request from the Customer
under or in connection with this Agreement (including without

8

 

	 	 	 	limitation any act or omission
relating to the Prime Broker’s participation on the Platform Trading Service) unless the Prime
Broker is negligent or guilty of willful misconduct or fraud;
	 
	 	(b)	 	the negligence, willful default, intentional misconduct, or fraud of the Customer;
	 
	 	(c)	 	any breach of this Agreement (including the entry by the Customer into an Unauthorised
Counterparty Transaction or Unauthorised Customer Transaction) (including any use of the Platform
Trading Service in breach of applicable law) by the Customer; or
	 
	 	(d)	 	any liability or obligation of the Prime Broker to the Platform Provider arising by
virtue of or in connection with any of paragraphs (b) or (c).

	7.3	 	The Prime Broker shall not incur any liability for any loss, cost, expense or liability
suffered by the Customer resulting from any act or omission (including a default or misconduct) of
the Platform Provider or any participant on the Platform Trading Service (including any
Counterparty). In particular (but without limiting the generality of the foregoing) the Prime
Broker is not responsible for the operation of the Platform Trading Service, or the form, accuracy
or content of any data, notice, report, communication or material generated or communicated by the
Platform Trading Service.
	 
	7.4	 	The Prime Broker shall not incur any liability for failure to perform its obligations under
this Agreement or for any loss, cost, expense or liability suffered by the Customer as a result of
any act of God, war, riot, natural or other disaster, fire, industrial dispute, breakdown or
failure of transmission, communication or computer facilities, change in any law or regulation, or
any other cause beyond the reasonable control or anticipation of the Prime Broker.
	 
	7.5	 	For the avoidance of any doubt, it is agreed that the Prime Broker shall in no circumstances
be liable to the Customer for special, indirect and consequential damages arising as a result of
any breach by the Prime Broker of any proviSion of this Agreement
	 
	7.6	 	Nothing in this Agreement shall limit or exclude the liability of the Prime Broker for fraud,
death or personal injury or otherwise to the extent prohibited under applicable law or regulation.
	 
	8.	 	COMMISSION
	 
	8.1	 	This clause 8 shall apply if Schedule 2 specifies that Commission shall be payable.
	 
	8.2	 	The Customer shall pay the Commission in accordance with the terms of Schedule 2 as amended
from time to time.
	 
	8.3	 	The Customer shall pay the Commission to the Prime Broker within thirty (30) days after it
has received the relevant invoice from the Prime Broker in the place of the account specified by
the Prime Broker in freely transferable funds and in the manner customary for payments in the
required currency. If the Customer fails to make, when due, any payment under this Agreement the
Prime Broker shall be entitled to take any action necessary in its sole and absolute discretion,
including but not limited to deducting from any collateral or margin that Customer has pledged or
given to Prime Broker or debiting any account maintained with the Prime Broker, in the amount of
fees owed.

9

 

	8.4	 	All payments under this clause shall be exclusive of any applicable value added, sales, use,
withholding or other tax or duty (which tax or duty shall be paid by the Customer).
	 
	9.	 	MATERIAL INTERESTS

The Prime Broker may enter into Transactions with or for the Customer or otherwise provide services
to the Customer under this Agreement notwithstanding that it and/or an Affiliate may have an
interest, relationship or arrangement that is material in relation to the Transaction or service
concerned. In particular, the Prime Broker or its Affiliates may enter into Transactions as prime
broker to other participants on the Platform Trading Service and otherwise, provide advice,
discretionary investment management or any other service involving foreign exchange to other
customers, and participate in or operate other electronic trading systems relating to foreign
exchange.

	10.	 	CONFIDENTIALITY
	 
	10.1	 	Each party undertakes that it shall use all reasonable endeavours to keep private and
confidential (and to ensure that its officers, employees, professional and other advisers or
persons under its supervision keep private and confidential) during the continuance of this
Agreement and after its termination, any information relating to the contents of this Agreement,
information of a confidential nature supplied by the other party at any time (including prior to
the execution of the Agreement) and relating to the business, assets, finances or other affairs of
a confidential nature, and information relating to Transactions (“Confidential Information”),
	 
	10.2	 	Neither party shall use or disclose Confidential Information without the prior consent of
the other party, unless

	 	(a)	 	required to do so by any court, market or regulatory authority having jurisdiction over
the party or any applicable law or regulation;
	 
	 	(b)	 	such disclosure is necessary to carry out its obligations under this Agreement;
	 
	 	(c)	 	the Confidential Information so disclosed is already in the public domain; or
	 
	 	(d)	 	such disclosure is to, or use is by, the Platform Provider in accordance with the User
Agreement or any agreement between the Prime Broker and the Platform Provider.

	10.3	 	Notwithstanding clauses 10.1 and 10.2, the Prime Broker may disclose Confidential
Information to Affiliates. The Customer hereby consents to and authorises such disclosure of
Confidential Information and acknowledges that any duty of confidentiality owed by the Prime
Broker, howsoever arising, will not be regarded as being breached by any such disclosure.
	 
	11.	 	INSTRUCTIONS
	 
	11.1	 	The Prime Broker may rely conclusively on, and the Customer shall be bound by, any
communication received through the Platform Trading Service which purports to originate from the
Customer. For the purposes of this Agreement all such communications shall be deemed to be at the
Customer’s request for all purposes of this Agreement. The Prime Broker is not obliged to do
anything to establish the authority or identify of the person sending a communication through the
Platform Trading Service.

10

 

	11.2	 	The Prime Broker is not responsible for errors or omissions made by the Customer or the
Platform Provider in communicating instructions under this Agreement or resulting from fraud or
the duplication of any communication by the Customer.
	 
	12.	 	NOTICES
	 
	12.1	 	All written notices under this Agreement shall be delivered to the address of the recipient
set out below (or such other address as it may specify in writing from time to time) unless
otherwise specified by hand, courier, mail, facsimile or electronic means including where
available through the Platform Trading Service and subject to clause 12.2 shall be effective upon
receipt.
	 
	12.2	 	Any notice sent by first class post (air mail in the case of international communications)
shall be deemed to be received on the second day following the date of posting in the case of
communications within the United Kingdom and the seventh day following the date of posting in the
case of international communications.
	 
	12.3	 	The addresses for the sending of notices under this Agreement shall be as follows:

To the Prime Broker:

The Royal Bank of Scotland plc

135 Bishopsgate, 4th Floor

London EC2M 3UR

Attention: FOREIGN EXCHANGE Prime Brokerage Desk

Telephone No: +44 (0)20 7085 5441

Facsimile No: +44 (0)20 7085 5734

To the Customer:

Gain Capital Group LLC

550 Hills Drive

Bedminster, NL 07921

United States

Attention: Annette Baltgian, Esq.

Telephone No. (908) 212-3954

Facsimile No. (866) 646-3813

	13.	 	TERMINATION
	 
	13.1	 	This Agreement shall remain in effect until terminated in accordance with this clause 13.
	 
	13.2	 	Either party shall be entitled to terminate this Agreement at any time by written notice to
the other party.
	 
	13.3	 	Termination of this Agreement shall not affect any contractual provision intended to survive
termination and any Transaction or any obligation (including that of indemnity) which is then
outstanding, and the provisions of this Agreement shall continue to apply to each such Transaction
and each obligation until all the obligations and each such Transaction have been fully performed.
	 
	14.	 	 CONFLICT OF AGREEMENTS AND INCONSISTENCY
	 
	14.1	 	Subject to clause 14.2, this Agreement supersedes all previous terms and conditions 

11

 

	 	 	issued by the Prime Broker and relating to the matters covered by this Agreement, and in the event of any
conflict between this Agreement and the Prime Broker’s standard terms of business, this Agreement
shall prevail.

	14.2	 	This Agreement shall not be deemed to vary or amend the Customer Master Agreement and, in
the event of any inconsistency between this Agreement and the provisions of the Customer Master
Agreement, the provision of the Customer Master Agreement shall prevail.
	 
	15.	 	AMENDMENTS
	 
	15.1	 	The Prime Broker may amend this Agreement with immediate effect or such later date as it
determines if it is, or reasonably believes it is, obliged to do so under applicable law or
regulation.
	 
	15.2	 	In any other circumstance including where such amendments are required as a result of
amendments made by the Platform Provider to the terms upon which the Platform Trading Service is
provided to the Prime Broker or the Customer, the Prime Broker may amend this Agreement by sending
the Customer a written notice describing the relevant changes: such changes will become effective
on a date to be specified in the notice, which must be at least ten (10) Business Days after the
notice is sent to the Customer.
	 
	16.	 	GENERAL
	 
	16.1	 	Nothing in this Agreement shall be deemed to constitute a partnership between the parties,
nor constitute either party the agent of the other party, for any purpose except as set out in
clause 2.
	 
	16.2	 	This Agreement may be executed in any number of counterparts. This has the same effect as if
the Signatures on the counterparts were on a single copy of this Agreement.
	 
	16.3	 	The rights of each party under this Agreement:

	 	(a)	 	may be exercised as often as necessary;
	 
	 	(b)	 	are cumulative and not exclusive of rights or remedies provided by law; and
	 
	 	(c)	 	may be waived only in writing and specifically.
	 
	 	 	 	Delay in exercising or non-exercise of
any such right is not a waiver of that right. The rights and remedies provided under this
Agreement are cumulative and not exclusive of those provided by law. The Prime Broker shall be
under no obligation to exercise any right or remedy either at all or in a manner or at a time
beneficial to the Customer.

	16.4	 	If any term of this Agreement is or becomes illegal, invalid or unenforceable in any
jurisdiction, that shall not affect:

	 	(a)	 	the legality, validity or enforceability in that jurisdiction of any other term of this
Agreement; or
	 
	 	(b)	 	the legality, validity or enforceability in other jurisdictions of that or any other
provision of this Agreement.

	16.5	 	Each party shall pay the costs and expenses incurred by it in connection with the
entering
into of this Agreement.

12exv10w45

Exhibit 10.45

Confidential Treatment has been requested for portions of this exhibit. The copy filed herewith omits the
information subject to the confidentiality request. Omissions are designated as “***”.
A complete version of this exhibit has been filed separately with the Securities and Exchange Commission.

SALES LEAD AGREEMENT

This Sales Lead Agreement (the “Agreement”), is hereby made as of October 9th 2006
(“Effective Date”), by and between GAIN CAPITAL GROUP, LLC a company whose
registered office is 550 Hills Drive, Bedminster, NJ 07921, USA, (“SALES AGENT”)
and TRADING CENTRAL, a Societe Anonyme, with offices at II BIS RUE SCRIBE
75009 PARIS, FRANCE (RCS Paris 423 512 607) (“Research Provider”).

WHEREAS, Research Provider is in the business of producing technical analysis
(collectively “Investment Research”);

WHEREAS, SALES AGENT desires to distribute the Investment Research, and
Research Provider wishes to utilize SALES AGENT to distribute its Investment Research.

NOW, THEREFORE, in consideration of the promises and mutual covenants contained
herein, and for other good and valuable consideration, the receipt and sufficiency of which are
hereby acknowledged, the parties hereby agree as follows:

1. Services to Be Performed by SALES AGENT. SALES AGENT shall use its
commercially reasonable efforts to distribute the Investment Research on a non-exclusive basis.

2. Services to Be Provided by Research Provider. Research Provider shall provide SALES
AGENT with Investment Research along with other items as determined by SALES AGENT on
a non-exclusive basis.

3. Term and Termination of Agreement. The term of this Agreement shall commence on
the Effective Date and shall continue for a period of twelve (12) months. After the initial twelve
(12) month period, this Agreement may be terminated by either party at any time upon at least
thirty (30) days prior written notice. If either party defaults in the performance of any of its
material obligations under this Agreement and fails to cure such default within ten (10) days
after receiving written notice of the default, the non-defaulting party shall then have the right
to
terminate this Agreement immediately at any time following the ten (10) days.

4. Confidentiality. Any customer list of SALES AGENT is deemed to be “Confidential
Information,” and Research Provider shall use reasonable efforts to keep such information
confidential and not utilize such information for its own use. Research Provider agrees that it
will take all reasonable precautions to prevent any unauthorized disclosure of Confidential
Information by its principals, employees, or agents.

5. Fees and Payment Terms.

TRADING CENTRAL shall provide SALES AGENT with current, accurate and complete pricing
and product information on the Materials, as applicable.

Unless otherwise agreed, subscriptions by Users that contract with TRADING CENTRAL SA
shall be invoiced and collected by TRADING CENTRAL.

A Sales Lead is defined as (i) sales efforts made by SALES AGENT that result in a new
contract

 

 

signed between one User and TRADING CENTRAL for the delivery of technical analysis services
or any other service delivered and invoiced by TRADING CENTRAL and (ii) whereby significant
sales efforts were handled directly by TRADING CENTRAL representatives in the form of sales
calls, on-site or phone presentations, product demonstrations and/or price negotiations.

A Sales Lead is valid only if (i) a Lead Form (detailing company name, desk activity, contact
details including name, phone number, e-mail, and position) has been sent by e-mail to TRADING
CENTRAL and faxed or e-mailed back to SALES AGENT wearing the approval signature of an
accredited person (CEO, MD or Head of Sales of TRADING CENTRAL).

If SALES AGENT provides a Sales Lead which lead to a signed contract between User and
TRADING CENTRAL then TRADING CENTRAL shall pay SALES AGENT a Commission
worth *** of the *** value of any *** imposed to Users by TRADING CENTRAL for access
to its technical analysis service during the first year of the contract signed between Users.

If SALES AGENT provides both a Sales Lead and a closed contract which required no sales effort
nor involvement by TRADING CENTRAL representatives then TRADING CENTRAL shall pay
SALES AGENT a Commission worth *** of they *** value of any *** imposed to Users by TRADING CENTRAL
for access to its technical analysis service during the first year of the contract signed between
Users and TRADING CENTRAL.

Commissions will be paid to SALES AGENT on a quarterly basis only on payment actually
received from Users.

6. Expenses. Each party shall bear its own costs and expenses in providing the services
rendered by it hereunder. All expenses of preparing the Investment Research materials shall be
the sole responsibility of Research Provider.

7. Representations and Warranties.

	 	(a)	 	Research Provider represents and warrants now and on a continuing basis that:

	 	(1)	 	It has the requisite authority to enter into this Agreement.
	 
	 	(2)	 	Research Provider represents and warrants that any copyrights,
trademarks, service marks, trade names, logos or other commercial
designations are owned by Research Provider free of encumbrances or
claims of any kind, and Research Provider has right to grant SALES
AGENT a license to use such items in accordance with the terms of this
Agreement.
	 
	 	(3)	 	Research Provider has all required governmental and regulatory approvals
and licenses required to conduct the business contemplated by this
Agreement, including any required registrations.

	 	(b)	 	SALES AGENT represents and warrants now and on a continuing basis that:

	 	(1)	 	It has the requisite authority to enter into this Agreement and to carry out
the services as contemplated herein.
	 
	 	(2)	 	It agrees to maintain the registrations and licenses necessary under

2

 

     applicable laws and regulations.

     (c) Each party hereto represents and warrants that it shall provide to the other such
information or documentation necessary for such party to fulfill its obligations hereunder, and
such other information or documentation as any party may reasonably request.

9. Indemnification. Each party to this Agreement (the “Indemnifying Party”) shall
indemnify and hold harmless the other party (the “Indemnified Party”) and its affiliates and each
officer, employee and agent of the Indemnified Party and its affiliates from and against any and
all claims, demands, actions, losses, damages, liabilities, or costs, charges, reasonable counsel
fees, and expenses of any nature (“Losses”) arising out of (i) any misleading statements,
inaccuracy or omission in any materials generated by the Indemnifying Patty pursuant to this
Agreement, (ii) any material breach by the Indemnifying Party of any representation, warranty,
covenant, or agreement contained in this Agreement and (iii) any action taken or omitted to be
taken by the Indemnifying Party pursuant to this Agreement, except to the extent such Losses
result from Indemnified Party’s breach of this Agreement, bad faith, willful misconduct, or gross
negligence.

10. Miscellaneous.

     (a) Application of UK Law. This Agreement shall be governed by and in accordance
with the laws of England applicable to agreements made and fully to be performed therein.

     (b) Entire Agreement, Amendment. This Agreement constitutes the entire agreement
between the parties and supersedes voids and rescinds any and all prior oral or written
agreements between Research Provider and SALES AGENT and is a fully integrated agreement.
This Agreement may not be amended nor modified, nor any of the provisions hereof waived,
except by the written consent of both parties hereto.

     (c) Binding Arbitration. Research Provider and SALES AGENT agree to arbitrate
any controversy between Research Provider and SALES AGENT or its directors, officers,
partners or employees relating in any way to this Agreement, including, but not limited
to, the
performance, construction or breach of this Agreement. Such arbitration will be conducted in
accordance with the rules then in effect of the National Association of Securities Dealers, Inc.
Research Provider and SALES AGENT understand that any award rendered by the arbitrators
may be entered in any court having jurisdiction.

     (d) Relationship of Parties. Neither Research Provider nor SALES AGENT has any
exclusive right to the services offered by the other, or, except as provided in this Agreement, to
restrict other activities of the other party. This Agreement shall not be construed as precluding
SALES AGENT or its affiliates from performing services of any nature for any third persons.

     (e) Assignment. No party hereto may transfer, sell, encumber or assign any of its
rights or obligations hereunder in whole or in part without the express written consent of the
other patty hereto.

     IN WITNESS WHEREOF, this Agreement has been executed for and on behalf of the
undersigned as of the above date.

3

 

	 	 	 	 	 	 	 	 	 

	TRADING CENTRAL	 	GAIN CAPITAL GROUP, LLC	 	 
	 
	 	 	 	 	 	 	 	 
	By:

	 	 	 	By:	 	 	 	 
	Name:

	 	 

Alain Pellier
	 	Name:
	 	 

Glenn Stevens
	 	 
	Title:

	 	CEO
	 	Title:
	 	CEO	 	 
	Date:

	 	9/October/2006
	 	Date:
	 	10/January/2007	 	 
	 
	 	 	 	 	 	 	 	 
	SCHEDULE A-I: Sales Leads	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 
	SALES AGENT will receive *** of the *** received, per subscription.	 	 
	 
	 	 	 	 	 	 	 	 
	New Subscriptions	 	Subscription Renewals	 	 
	 
	 	 	 	 	 	 	 	 
	SALES AGENT ***/Trading Central ***	 	SALES AGENT ***/Trading Central ***	 	 
	 
	 	 	 	 	 	 	 	 
	SCHEDULE A-2: Sales Leads + Closed Contracts	 	 
	 
	 	 	 	 	 	 	 	 
	SALES AGENT will receive *** of the *** received, per subscription.	 	 
	 
	 	 	 	 	 	 	 	 
	New
Subscriptions	 	Subscription
Renewals	 	 
	 
	 	 	 	 	 	 	 	 
	SALES AGENT ***/Trading Central ***	 	SALES AGENT ***/Trading Central ***	 	 
	 
	 	 	 	 	 	 	 	 
	SCHEDULE B	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 
	GURU TECHNICAL ANALYSIS	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 
	to be confirmed	 	 	 	 	 	 

4

 

CONTRACT FOR TECHNICAL ANALYSIS STRATEGIES

STANDARD TERMS AND CONDITIONS

1, These terms shall be incorporated into every agreement (“an Agreement”) with a subscriber
(“a Subscriber”) for the supply of any of TRADING CENTRAL online services (information, analyses
and forecasts) available on www tradingcentral.com (“the Service”), All Subscribers contract with
TRADING CENTRAL SA, a company whose registered office is 11 bis rue Scribe, 75009 Paris, France,
registered at the registry of commerce and companies of Paris under the number 423 512 607.

2 Each Agreement will come into effect only when accepted by TRADING CENTRAL and commence as from
the agreed commencement date (or, if none is agreed, the date on which the TRADING CENTRAL Service
was first provided, after the end of any free trial, where relevant) and (unless otherwise
specified in the Agreement) will continue for a term of one (1) year and for further terms of one
(1) year thereafter until terminated by the Subscriber giving to TRADING CENTRAL not less than
three (3) months notice in writing expiring at the end of the relevant term.

3.(a) Unless otherwise agreed, subscriptions for TRADING CENTRAL Services shall be as shown in
TRADING CENTRAL’s standard price list at the time the subscription is due. (b) Unless and until
TRADING CENTRAL notifies otherwise, subscriptions with Subscribers who contract with TRADING
CENTRAL will be invoiced and collected by TRADING CENTRAL and shall be due and payable quarterly in
advance, without set-off or deduction (c) Each Subscriber will pay a penalty worth EURIBOR *** if
payments are not made to TRADING CENTRAL in due time. (d) Without prejudice to any other remedy
which it may have, TRADING CENTRAL reserves the right to terminate the Subscriber’s access to any
TRADING CENTRAL services for non-payment of invoices. (e) All sums due to TRADING CENTRAL are
exclusive of Goods and Services Tax, Sales Tax, Value Added Tax, and any other use or sales taxes,
duties, or levies imposed by any authority, government or government agency which may apply or be
introduced from time to time which shall be charged thereon in accordance with the relevant
regulations in force at the time of providing the Service and shall be paid by the Subscriber. If a
Subscriber is required by any tax authority to account for withholding tax (or similar duties or
taxes) in respect of any subscription due to TRADING CENTRAL, the subscription shall be grossed up
so that TRADING CENTRAL actually receives the amount which would have been payable had such
withholding tax not been so accounted for Fees subject to annual increase based on Euro Zone
inflation rate.

4 EACH SUBSCRIBER AGREES AND ACKNOWLEDGES THAT, (A) NO EXPRESS UNDERTAKING IS GIVEN AND NONE CAN BE
IMPLIED AS TO THE ACCURACY OR COMPLETENESS OF THE SERVICE (B) THE SERVICE DOES NOT CONSTITUTE IN
ANY WAY A SOLICITATION NOR INCENTIVE TO SELL OR BUY ANY SHARES, STOCK OPTIONS AND SIMILAR AND
ASSIMILATED PRODUCTS. (C) EACH SUBSCRIBER OF THE SERVICE ACKNOWLEDGES AND AGREES TO THE FACT THAT,
BY ITS VERY NATURE, ANY INVESTMENT IN SHARES, STOCK OPTIONS AND SIMILAR AND ASSIMILATED PRODUCTS IS
CHARACTERISED BY A CERTAIN DEGREE OF UNCERTAINTY THAT, CONSEQUENTLY, ANY INVESTMENT OF THIS NATURE
INVOLVES RISKS FOR WHICH THE USER IS SOLELY RESPONSIBLE AND LIABLE. IT IS TO BE NOTED IN THIS
RESPECT THAT PAST PERFORMANCE OF A FINANCIAL PRODUCT DO NOT GUARANTEE ANY AND ARE NOT AN INDICATION
AS TO FUTURE PERFORMANCE. (D) THE USE AND INTERPRETATION OF THE SERVICE REQUIRE FINANCIAL SKILL AND
JUDGEMENT. ANY UTILISATION WHATSOEVER BY THE SUBSCRIBER, RELATING TO THE SERVICE, AS WELL AS ANY
DECISION WHICH THE USERS MAY TAKE REGARDING A POSSIBLE PURCHASE OR SALE OF SHARES, STOCK OPTIONS
AND SIMILAR AND ASSIMILATED PRODUCTS, ARE THE SOLE RESPONSIBILITY AND LIABILITY OF THE SUBSCRIBER
WHO ACKNOWLEDGES AND AGREES TO THIS AS A CONDITION PRECEDENT TO AND PRIOR TO ANY ACCESS TO THE
SERVICE; (E) AS A RESULT OF THE ABOVE, ALL LEGAL LIABILITY

5

 

DIRECTLY OR INDIRECTLY ARISING WHATSOEVER IN RESPECT OF THE UTILISATION OF THE INFORMATION AND
RELATED PRODUCTS OF OUR SERVICE, IN PA RTICULAR IN THE CIRCUMSTANCES AS DESCRIB ED IN POINT (C) OF
THIS DISCLAIMER, IS HEREBY EXCLUDED TO THE FULLEST EXTENT PERMISSIBLE BY LAW AND CONSEQUENTIAL AND
ECONOMIC LOSS IS EXCLUDED WITHOUT LIMITATION; (F) TRADING CENTRAL IS NOT LIABLE FOR ANY
INTERRUPTION, DISRUPTION OR SUSPENSION OF THE SERVICE AVAILABLE ON THE INTERNET WHATSOEVER, EVEN
WHEN THIS RESULT CAUSES THE INFORMATION AND RELATED PRODUCTS PROVIDED TO BE RENDERED INACCURATE,
INACCESSIBLE OR INCOMPLETE.

5 (a) Each Subscriber agrees that it will use the Service for the specific business purposes stated
herein (b) Subscribers may not internally or externally, copy, distribute, relay, publish or
otherwise deal with, disclose or make available any part of a the Service whether in the form
received by them or in any other form and may not transfer any part of the Service to another
information distribution network or publication system whether external or internal or any terminal
not authorised by TRADING CENTRAL to receive the Service except in the designated case allowed by
this Agreement allowing Subscriber to electronically provide the Service to its customers who hold
live foreign exchange trading accounts with Subscriber (c) Each Subscriber agrees to limit the
number of internal Users to those listed on the Commercial Information Addendum (page 3) These
internal Users are the individuals allowed direct access to the Service which will enable them to
provide it to Subscriber’s customers (d) The total number of Users may increase based on in-site
observations or based on client request and shall lead TRADING CENTRAL to increase the total
subscription fees as described on the Commercial lnformation Addendum (page 3). When applicable, a
Notice will be sent to the Subscriber for each increase and will be deemed to be duly given if
delivered personally or sent by first class air mail post or sent by email or sent by fax.

6. TRADING CENTRAL shall have the right to add to, vary or reduce the contents of the Service or to
replace, omit or otherwise vary any of the sources used in the making of the Service with
reasonable written notice to Subscribers only when the content of the Service has been
substantially altered making it essential to notify Subscribers. Edits considered minimal and part
of normal course of business are not considered substantial enough warranting notice to Subscriber
If Service is substantially altered, Subscriber maintains the right to terminate the contract or
seek to renegotiate the price.

7. TRADING CENTRAL shall have the right to give written notice at any time and for any reason
terminating any Agreement and/or terminate any TRADING CENTRAL Service forthwith If such
termination does not result from a breach of an Agreement by the Subscriber, TRADING CENTRAL shall
reimburse or arrange for the reimbursement of any part of the current subscription that relates to
the period after termination. Other than in the instance where TRADING CENTRAL has breached its
(‘contractual obligations according to this Agreement, Subscriber shall have the right to terminate
if Service is materially altered rendering use of the Service impractical and useless.

8. Subscribers hereby agree to be bound by such amendments as TRADING CENTRAL may make to these
standard terms and conditions from time to time. In such an event, TRADING CENTRAL shall
communicate via e-mail to inform Subscribers of such amendments no less than 20 days from the time
amendments will take effect Notice of these amendments made available by e-mail shall be deemed
duly given upon the time e-mail notification is sent The Subscriber will be deemed to have accepted
the terms if it does an act, reaffirming its subscription, or if no notice of objection is received
within 20 days of when the e-mail notification was first sent.

6

 

CONTRACT FOR TECHNICAL ANALYSIS STRATEGIES

9. The Service, including but not limited to text, figures, content, graphics, video, audio,
photographs, images, illustrations, news articles, also known as ‘material”, is protected by
copyright and/or other proprietary rights under French and other Laws, and is solely and
exclusively owned and controlled by TRADING CENTRAL The Subscriber do and shall not acquire any
rights of any kind nor licenses of any type in or to the Service and material contained in the
Service by using or subscribing to the Service in accordance with these Subscriber Terms and
Conditions, unless expressly set out in these Subscriber Terms and Conditions All present and
future rights in copyright, trademarks, patents, trade secrets, service marks, now-how and other
proprietary rights of any type under the laws of any country shall at all times remain the sole and
exclusive property of TRADING CENTRAL

10. Upon prior reasonable notification, each Subscriber will permit TRADING CENTRAL and its
representatives to enter into business location during normal business hours to inspect the manner
in which TRADING CENTRAL services are being accessed and/or received and to have access to and make
copies of the books, records and computers used for purposes of this Agreement at such locations
for the sale purpose of ensuring that the provisions of the Agreement are being complied with

11. Except in the event of TRADING CENTRAL’S gross negligence or willful misconduct, each
Subscriber agrees to indemnify and hold harmless TRADING CENTRAL, its officers, directors,
shareholders, subsidiaries, affiliates, employees, agents and representatives against all suits,
claims demands, causes of action, losses, damages, costs, expenses, or liabilities of any nature
(including attorney’s fees) incurred by TRADING CENTRAL as a result of breach of an Agreement by
the Subscriber. TRADING CENTRAL agrees to indemnify and hold harmless Subscriber, its officers,
directors, shareholders, subsidiaries, affiliates, employees, agents and representative harmless
from and against any and all claims, damages, liabilities, costs, loses and expenses (including,
without limitation, all judgments, costs and reasonable attorneys’ fees and amounts paid in
settlement or compromise of any litigation) of any kind or nature (collectively, ‘losses”) to which
Subscriber may become subject to

12. Without prejudice to any other relief or rights to which it is entitled, TRADING CENTRAL may
claim from Subscribers all legal fees incurred to enforce any provisions of an Agreement. As such,
Subscriber may seek from TRADING CENTRAL any legal fees incurred in enforcing or attempting to
enforce any provision of this Agreement

13. TRADING CENTRAL shall not be liable for failure to perform or delay in performing any
obligation if such failure or delay is caused by circumstances beyond its reasonable control.

14. No failure to exercise or delay in exercising any right by TRADING CENTRAL shall operate as a
waiver of such right and no exercise of any right shall preclude a further exercise of such right.

15. TRADING CENTRAL shall be entitled to assign any Agreement to any associated company and in such
event upon providing written notification to Subscriber and receiving written consent from
Subscriber. Subscriber agrees to treat such Agreement with effect from the date of assignment as
being entered into for all purposes between the Subscriber and such associated company.

16. Each Agreement constitutes the complete and exclusive statement of the Agreement between the
parties relating to the TRADING CENTRAL Service(s) provided thereunder and supersedes all oral or
written agreements, proposals (including any representations) and all other communication between
them.

17. The address for delivery of notices on the Subscriber is as stated in the relevant Agreement
The address for delivery of notices on TRADING CENTRAL SA is 11 bis rue Scribe, 75009 Paris,
France.

7

 

18. Notices will be deemed to be duly given if delivered personally or sent by first class air mail
post or sent by electronic mail or sent by fax Notices will be deemed to have been given at the
time of delivery in the case of notices delivered personally, within 5 days of posting in the cases
of notices sent by first class air mail and the time of sending in the case of electronic mail and
faxes Notices sent by electronic mail shall not deemed delivered unless the sender can demonstrate
that the electronic mail has been delivered to the Subscriber.

19. The place where each Agreement is made and comes into effect is Paris All Agreements shall be
governed by the laws of France and Subscribers agree to submit to the non-exclusive jurisdiction of
the French Courts.

Agreed to by:

	 	 	 

	TRADING CENTRAL SA

	 	GAIN CAPITAL GROUP, LLC
	By:

	 	By:
	Name: Alain Pellier

	 	Name: Christopher W. Calhoun
	Title: CEO

	 	Title: Chief Operating Officer
	Date: 20 December 2006

	 	Date: 10/11/07

8

 

CONTRACT FOR TECHNICAL ANALYSIS STRATEGIES

COMMERCIAL TERMS & SUBSCRIPTION FEES

OPTION 1: OUTSOURCED WHITE LABEL MARKET BRIEFS

	 	•	 	Daily US Pre-Opening and Mid-Day Technical Levels and Trading Strategies on 6 Forex
pairs
	 
	 	•	 	Weekly Forex Focus: mid-term trend outlook & key levels update on 6 Forex pairs
	 
	 	•	 	Pre-Opening and Weekly PDF or HTML documents published with your own logo and co-branded
	 
	 	•	 	Mid-Day update is a plain text e-mail with links to relevant graphs
	 
	 	•	 	Delivered to a pre-defined GAIN CAPITAL e-mail address

DISTRIBUTION LICENSE

	 	•	 	License to distribute TRADING Central’s research exclusively to 2,000 private individual
investors identified as GAIN Capital Group LLC customers, excluding GAIN Capital Group LLC
white-label customers.
	 
	 	•	 	License to distribute the Daily and Weekly newsletters to GAIN Capital Group LLC DEMO
customers as part of our 30-Day free trial for “teasing” marketing purposes
	 
	 	•	 	License to display the Weekly newsletters on GAIN Capital Group LLC websites open access
pages for “teasing” marketing purposes

OPTION 2: TECHNICAL ANALYSIS RESEARCH ON FOREX.COM

REAL TIME TECHNICAL LEVELS

	 	•	 	XML feed delivered by FTP account
	 
	 	•	 	Daily coverage on 17 pairs as defined by GAIN CAPITAL pending agreement by TRADING
CENTRAL

TECHNICAL PATTERN ALERTS

	 	•	 	XML feed delivered by FTP account
	 
	 	•	 	Technical Pattern Alerts that display technical signals (buy or sell) when they arise
	 
	 	•	 	Based on TRADING Central’s algorithmic recognition of technical events:
	 
	 	•	 	Updates frequency: daily

JAPANESE CANDLESTICK ALERTS

	 	•	 	XML feed delivered by FTP account
	 
	 	•	 	Japanese Candlestick Alerts that display technical signals (buy or sell) when they arise
	 
	 	•	 	Based on Trading Central’s algorithmic recognition of Japanese candlesticks patterns
	 
	 	•	 	Updates frequency: daily

DISTRIBUTION LICENSE

	 	•	 	License to distribute TRADING Central’s research in the password protected research
pages of GAIN Capital Group LLC websites
	 
	 	•	 	License to distribute TRADING Central’s research exclusively to 2,000 private individual
investors identified as
	 
	 	•	 	FOREX.com customers
	 
	 	•	 	License does not include the rights to integrate research into GAIN CAPITAL GROUP
white-label customers
	 
	 	•	 	License to display two randomly selected analyses per day on GAIN Capital Group LLC
websites open access pages for “teasing” marketing purposes

9

 

SPECIAL INVESTMENT TERMS

OPTION 1 PRICING

	 	•	 	USD 4,000 per month (33% Discount on Standard Pricing)
	 
	 	•	 	Additional Forex pair: USD 500 per month
	 
	 	•	 	Additional 1,000 FOREX.com customers: USD 500 per month
	 
	 	•	 	IT setup and maintenance fees (PDF/HTML design, programming and updating): included
	 
	 	•	 	Contract Length: 1 Year

OPTION 2 PRICING

	 	•	 	Additional USD 2,500 per month (50% Discount on Standard Pricing) on Option 1 package if
exercised within first 4 months of newsletter service
	 
	 	•	 	Additional USD 3,500 per month (30% Discount on Standard Pricing) on Option 1 package if
exercised outside first 4 months of newsletter service
	 
	 	•	 	Additional Forex pair: USD 250 per month
	 
	 	•	 	Additional 2,000 FOREX.com customers: USD 500 per month
	 
	 	•	 	IT setup and maintenance fees (IT support and consultation prior, during and after
integration
	 
	 	•	 	Contract length: 1 Year

Launch Date: 2-4 weeks after contract signature date

10

 

CONTRACT FOR TECHNICAL ANALYSIS STRATEGIES

SUBSCRIBER DETAILS

	 	 	 

	COMPANY NAME: GAIN CAPITAL GROUP (FOREX.COM)
	ADDRESS: 550 HILLS DRIVE, SUITE 210, BEDMINSTER, NJ 07921 USA
	CONTACT NAME: KEN O’BRIEN
	 	TELEPHONE NUMBER: +1.908.212.3930
	EMAIL: kobrien@gaincapital.com
	 	FACSIMILE: +1.908.731.0701
	 
	 	 
	TRADING CENTRAL
	 	 
	YOUR SALES CONTACT
	 	SALES@TRADINGCENTRAL.COM
	TELEPHONE (LONDON)
	 	+44 207 847 4042
	TELEPHONE (PARIS):
	 	+331 55288040
	FACSIMILE:
	 	+331 5528 8049

11

 

ADDENDUM TO CONTRACT SIGNED 10 OCTOBER 2006

UPGRADED FOREX RESEARCH PACKAGE

	 	 	 

	From:

	 	GAIN CAPITAL GROUP (FOREX.COM)
	Address:

	 	550 HILLS DRIVE, SUITE 210, BEDMINSTER, NJ 07921 USA
	Contact name:

	 	KEN O’BRIEN
	Phone:

	 	+1.908.212.3930
	E-Mail:

	 	kobrien@gaincapital.com
	 
	 	 
	To:

	 	TRADING CENTRAL
	Attn:

	 	JULIEN HEIDERSCHEID
	Fax:

	 	1-646-349-2240

As per contract: OPTION 2 TECHNICAL ANALYSIS RESEARCH ON FOREX.COM should be:

OPTION 2 PRICING

- Additional USD 3,500 per month (30% Discount on Standard Pricing) on Option 1 package if
exercised outside first 4 months of newsletter service

- Additional Forex pair: USD 250 per month

- Additional 2,000 FOREX.com customers: USD 500 per month

- IT setup and maintenance fees (IT support and consultation prior, during and after Integration):
Included

- Contract length: 1 Year

- TOTAL UPGRADE INVESTMENT SHOULD BE = USD 8,500 per month

As per our meeting on September 5th 2007 we now offer the following terms:

Services shall be broken down per “customer type” and will be activated one by one during the
coming 3 months (from signature date below) at Gain Capital’s discretion given TRADING CENTRAL two
week notice. Additional charges and/or savings will activate when services are actually launched to
Gain Capital’s customers. Activation dates shall be announced by Gain Capital and agreed by both
parties.

A – “DEMO” customers will have access to:

- 3 pair HTML newsletter (1 daily + 1 weekly) delivered via FTP

- Note 1: this Is a simplified version of the current 6 pair newsletter service

- Note 2 : Gain Capital is taking over emailing service from TRADING CENTRAL

- Note 3: both services (the 6 pair and the 3 pair) may run side by side for a limited time period
(max 1 month) in order for Gain Capital to fade them in and out.

B – “BASIC” customers will have access to:

- 6 pair FOREX FOCUS PDF newsletters (1 dally + 1 weekly)

- Gain Capital to handle emailing service

- Note: this is a new service — template will be similar to HTML template (colors, sponsored by)

C – “FX PLUS” customers will have access to:

- TECHNICAL ANALYSIS RESEARCH ON FOREX.COM

- Increased coverage from 17 pairs to 35 (+ 100 reports per day)

- Note: this is part of Option 2 in the contract

D – “PREMIER” customers will have access to:

- The above TECHNICAL ANALYSIS RESEARCH ON FOREX.COM on 35 pairs

- Plus the Technical Indicator Alerts and Candlesticks Alerts

- Note: this is the full Option 2 in the contract

12

 

ADDENDUM TO CONTRACT SIGNED 10 OCTOBER 2006

UPGRADED PACKAGE INVESTMENT SCHEDULE (prices in USD per month)

	 	 	 	 	 

	A - “DEMO” Services
	 	= Savings	 	= - $2,000

Note: current pricing of $4,000 will apply as long as both services run simultaneously. When the
services switch entirely to the 3 pair version without emalling, the price will drop to $2,000.

	 	 	 	 	 

	B - “BASIC” Services
	 	= Additional charge	 	= $1,000

Note: this is a 50% discount from the stand alone price of $2,000 as long as above A services are
current. Should A services be canceled full price will apply to B services.

	 	 	 	 	 

	C and D — “FX PLUS” and “PREMIER” Services
	 	= Additional charge	 	= $5,000
	 
	 	 	 	 
	TOTAL UPGRADE INVESTMENT
	 	= Additional charge	 	= $4,000

Additional Services included in the upgraded package FREE of charge:

	 	•	 	Increased Web license from 2,000 users to Firm-wide (value of $4,000 per month)
	 
	 	•	 	Additional Forex pairs from 17 to 35 (value of $4,500 per month)
	 
	 	•	 	Daily Web Video commentary on global currency markets (value of $500 per month)
	 
	 	•	 	Training and educational material (value of $500 per month)
	 
	 	•	 	UPGRADED PACKAGE SAVINGS: ($8,500 — $4,000) = $4,500
	 
	 	 	 	Note: these services are free as long as they are delivered in combination with the
above upgraded package. Full pricing would apply should they be purchased
separately

	•	 	TOTAL FOREX RESEARCH INVESTMENT ($4,000 current + $4,000 upgrade) = USD 8,000 per month
once all the above services are launched
	 
	•	 	Contract length: 2 Years
	 
	•	 	Special offer valid until September 30th 2007
	 
	 	 	DATE / NAME / TITLE                                SIGNATURE
	 
	 	 	September 11th 2007
	 
	 	 	Kenneth W. O’Brien
	 
	 	 	VP Strategic Alliances

13

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