The Client may request that the codes be changed by notifying the Trader in writing; the Trader must make the change within two (2) business days following that notification and inform the Client of the same, on the understanding that the change of codes shall take effect on the Business Day following that on which the Client receives the corresponding notification.
The Client consents for the Trader to tape telephone conversations regarding the activities carried out under the terms of this contract. The tapes held by the Trader shall constitute proof of the conversations that took place via this medium and shall have the same probative value in legal proceedings as private documentary evidence.
TEN. DELEGATION OF POWERS.
The Trader may replace sales representatives during their temporary absences by others assigned according to its internal procedures. In addition, it is free to permanently replace a sales representative assigned to the Client, after first notifying the Clearing Member and later the Client of the respective substitution in the account statement for the month in which the change takes place, noting the code of the new sales representative.
Furthermore, the trader may entrust the trades ordered by the Client to third parties who possess the necessary capacity in accordance with the applicable provisions, without having to obtain the Client’s consent, provided it has obtained the written consent of the Clearing Member.
ELEVEN: TRADING ON THE EXCHANGE
The Client acknowledges and agrees that once the Trader executes an instruction from the Client, it has been performed in accordance with the Exchange Regulations; and that once the Clearinghouse has accepted that transaction under the terms of its Regulations, it shall be the Client’s counterparty under the same terms and conditions under which the trade in question has been negotiated.
Accordingly, the Client’s rights and obligations stemming from the trades it makes through the trader on the Exchange and which are recorded with the Clearinghouse, shall be exclusively with the Clearinghouse. Furthermore, as the counterparty of the Client, the Clearinghouse is authorized and obliged to that Client under the terms established in the Exchange Regulations and in the Clearinghouse Regulations.
TWELVE. SOUND MARKET USES AND PRACTICES.
The client shall at all times observe sound market uses and practices and comply with the obligations applicable to it as established in the Exchange Regulations.
The sound market uses and practices that the Client must observe include, but are not limited to, the following:
To refrain from trading Futures and Options Contract for their own benefit or that of others, with any Underlying Asset whose price may be affected by the use of inside information, as long as said information is classified as such.
For the purposes of the preceding paragraph, inside information is understood to mean knowledge of acts, deeds or events about which the general public has not been informed and that are capable of influencing the prices of Underlying Assets that are the basis of Futures and Options Contracts, while this information has not been made public knowledge, or under any other situation which defines “inside information” in the Exchange Regulations. .
To refrain from engaging in simulated trades or triangulation through different brokerage contracts in an effort to manipulate the prices of Future or Option Contracts.
To refrain from entering into Future or Option Contracts based on Underlying Assets in which the Client is prohibited from trading under the prevailing regulations.
To refrain from distorting the price formation process, interrupting the orderly operation of the market, or provoking artificial movements in the quotations of an Underlying Asset or a Futures or Option Contract on the Exchange.
To refrain from entering into Exchange-listed Futures or Options Contracts outside of the Exchange.
To refrain from committing any act that might directly or indirectly affect the image or financial integrity of the Exchange, the
Clearinghouse, a Client, Clearing Member, or the market in general.
To comply with the payment obligations derived from Futures and Options Contracts traded on the Exchange.
To make notification of the start of any bankruptcy, default or suspension of payment procedures against it or against its shareholders, subsidiaries, or affiliates, as well as of any definitive sentencing for crimes of property against any of those parties.
To make notification when it becomes aware of any violation of the existing market regulations.