General Terms and Conditions for the Online Trading Service

General Terms and Conditions for the Online Trading Service

These terms and conditions (hereinafter also referred to as the "Conditions") define the ways in which Banca Credinvest SA (hereinafter also referred to as "the Bank") grants the Customer access through one or more terminals, including access by means of an internet browser, to electronically transmit orders and/or transactions and to electronically monitor activity, orders and/or transactions (hereinafter the "Online Trading Service"). For the purposes of these Conditions, the term "Online Trading Service" includes all access to the software both operational and informational. The Conditions apply to all transactions implemented online between the Bank and Customer. By accessing and using the Online Trading Service, the Customer implicitly accepts these Conditions.

A detailed description of the Online Trading Service offered by the Bank and the financial products negotiable through access to it is provided on the website www.credinvest.ch, which includes specific links to connect to the Platform for online trading. The Customer confirms that he/she has read and recognises this content, which form and integral part of these Conditions.

Definitions

For the purposes of these Conditions, the terms and expressions used will assume the following meanings: “Account”: is the account opened by the Customer at the Bank, including any books and sub accounts;

“Authorised Person”: is the person authorised by the Customer to issue instructions to the Bank, in line with that governed by these Conditions;

“Work Day”: is the day when the Bank and/or the foreign exchange markets are open for business in Lugano, Switzerland;

“Contract”: is any contract, verbal or written, for the purchase and sale of shares, ETFs, ETCs, futures, options (on currencies, indexes and futures), currencies (spot and forward), precious metals, Bonds, Funds, CFDs and other financial instruments (hereinafter, individually, “Financial Instrument” and, collectively “Financial Instruments”), stipulated between the Bank and the Customer, or any resulting agreement that the Bank may stipulate to permit the fulfilment of their duties in accordance with these Conditions;

“Platform”: is any Platform that the Bank has developed autonomously or with third parties and which they make available to the Customer for trading through the Online Trading Service;

“Market Rules”: are the laws, regulations, customs and standard practices of any organisation or market involved in the execution or settlement of a Contract, as well as the exercise within that organisation or market of potential power or authority conferred within it;

“Services”: are the services that must be provided by the Bank for the trading activity through the Online Trading Service;

“Currency Date”: is the settlement date of a Contract.

Unless indicated otherwise, for the purposes of these Conditions: (i) the terms given in the singular include the plural and vice versa, and the terms expressed for a given genre include all the other genres; (ii) references to persons refer to all the persons, businesses, companies or associations (whether they are a legal entity or not). Titles given to the individual paragraphs are purely indicative and have no influence regarding the interpretation of what is specified in those paragraphs.

Services

The Customer may execute transactions with the Bank by using one or more Platforms in relation to different categories of Financial Instruments. The Bank establishes the offer of the Financial Instruments that can be used through the Online Trading Service. The Bank may cancel individual Financial Instruments and/or prevent the consultation and/or execution of transactions as well as add new Financial Instruments at any time. The transactions carried out through the Online Trading Service exclusively concern trading in Financial Instruments. The Online Trading Service is not intended for general payment services.

The Services may include the execution of transactions which require the application of a margin, within which the Customer is required to deposit liquid assets, or other assets, in order to ensure the fulfilment of the obligations arising from the Contract. The Bank is authorised to withdraw and/or block any amount considered necessary to constantly guarantee the margin level. In certain market conditions, the Bank may also increase at its own discretion the margins applied in the Online Trading Service. The Customer expressly exempts the Bank from any responsibility for damages or costs which derive from this.

The Customer, unless agreed otherwise in writing, stipulates the Contracts as Account Holder. The Customer is not authorised to act on behalf of third parties. Accordingly, the Bank does not accept the Account Holder as indirect customer, unless this is agreed otherwise in writing. The Customer confirms that he/she is aware of the identification requirements established by the regulations on money laundering and financing of terrorism.

The Bank does not provide any advice to the Customer. If the Bank performs a transaction with or on behalf of the Customer, this does not constitute advice or a contribution to the outcome of the transaction nor confirmation that the transaction is appropriate for the Customer's profile. Neither the information, nor the possible opinions included in the internet site and/or in the contracts or other documentation of the Bank constitute a solicitation, an offer or a recommendation by the Bank to buy or sell any Financial Instrument, product or foreign currency or to carry out investments or financial transactions or any other type of transaction.

The Bank may make available an automated trading application (Mechanical Trade System, MTS, also called "Expert Advisors"). This application produces information regarding market movements and consequently the time when it is appropriate to open or close transactions. The Expert Advisors system can also be set by the Customer based on his/her own strategies to automatically generate orders on his/her behalf and transmit them directly to the server for trading. The use of the application is at the exclusive risk of the Customer. The Bank does not guarantee in any way the results deriving from its use and is expressly exempted from any responsibility, damage or cost incurred by the Customer. Concession of the licence and right of use

The Bank provides the Customer with the software to use the Online Trading Service. The Customer may only use the software for personal use. Neither the software nor the Online Trading Service can be used for training purposes or for the provision of services in favour of third parties. The Customer agrees to use the Online Trading Service and the software in compliance with the terms and conditions defined with the Bank, which may be modified by the Bank from time to time. The Customer furthermore agrees to submit to the rules, procedures and conditions established by the Bank concerning the use of the Online Trading Service provided by the Bank.

Access and security

The Online Trading Service can be used to send, receive and confirm the execution of orders, which remain subject to the prevailing market conditions, as well as the applicable regulations and rules. The Customer commits that he/she will adopt all the procedures necessary to prevent the unauthorised access and use of the Online Trading Service. The Customer assumes all responsibility resulting from the transactions carried out through the Online Trading Service. In addition, the Customer declares:

a. that he/she has received the number, code or sequence which allow access to the Online Trading Service (hereinafter referred to as "Password");

b. that he/she is the only and exclusive owner of the Password;

c. that he/she is the only and exclusive owners of any identification number of login number (the "Login");

d. that he/she accepts full responsibility both for the use and the protection of the Password and the Login and for any transaction made in an open Account, held or accessible through the Login and/or Password.

The Customer assumes responsibility for monitoring his/her own Account. The Customer also commits to immediately notifying the Bank or the third parties assigned by the Bank to provide assistance services to the Customer in the use of the Online Trading Service regarding:

a. any loss, theft or unauthorised use of his Password(s), Login and/or Account number(s); b. any difficulty in receiving messages indicating the receipt and/or the execution of the order; c. any difficulty in receiving the detailed confirmation of the execution;

d. the possible receipt of a confirmation of an order and/or execution which he/she did not make;

Agreements with Third Parties

The Bank is specifically authorised by the Customer to conclude agreements with third parties for the execution of activities and services relative to any Platform. The Bank reserves the right to outsource activities to third parties without needing to provide any information to the Customer.

Orders

The Bank may carry out the orders of any duly authorised person or any person who appears at the Bank as an Authorised Person, despite the fact that the person is not actually authorised. The Customer pledges to compensate the Bank for any losses incurred as a result of errors stemming from orders sent by an Authorised Person, or from orders which appear to be transmitted by an Authorised Person.

The order given by, or on behalf of the Customer, cannot be cancelled, revoked or modified without the Bank giving their express consent. The Bank can, at their absolute discretion, refuse any order of negotiation given by/or on behalf of the Customer without having to provide explanations. The Bank may not be considered responsible for any losses which may result from the failure to execute an order.

Execution of an order by the Bank generally requires the Customer's account to have buying power equal to or in excess of the purchase price of the securities prior to the transaction date. The Bank may, at its own discretion, revoke or liquidate all orders accepted and implemented i should the Account not have the necessary coverage. The Customer is responsible for all orders issued, including those exceeding the funds available on the Account.

The Bank is not responsible for any losses, expenses, costs or liabilities incurred or detected by the Customer as a result of instructions given, or communications sent Online. The Customer is solely responsible for the orders and the accuracy of the information, sent Online, in the name or using the name of the Customer or the personal identification number. The order cannot be considered executed until the Bank confirms its execution to the Customer. Just transmitting the order is not binding to the Bank. The Bank may (but is not obliged to) request confirmation (in the form they consider most appropriate) of any instruction, should they consider it necessary or desirable for purposes of closing an Account or transferring the assets.

The Bank may limit the possibility of introducing orders using the Online Trading Service during certain trading hours. The trading hours in foreign currencies is from 11:00pm on Sunday until 11:00pm on Friday. The trading hours in precious metals is from 12:00 midnight Sunday evening/Monday morning until 10:59pm on Friday. Trading hours for other Financial Instruments vary according to the market and the underlying asset of the individual derivative or exchange traded product. The Bank may publishes the trading hours on the website www.credinvest.ch and/or directly on the Platforms. It is not possible to enter orders through the Online Trading Service outside of the trading hours. The Customer acknowledges that, even during trading hours, the Online Trading Service may not be available 24 hours a day but depends, among other things, on the days and the negotiation schedules of the financial centres, the regulations on public holidays, the work hours of the negotiation centres and the services in charge of the internal counts at the Bank, respectively of the outside brokers. The technical support activity to Customers provided by the Bank is guaranteed from Monday to Friday between 9:00am and 17:00pm and the operative support is guaranteed from Monday to Friday between 9:00am and 17:00pm.

The Bank can define a minimum and/or maximum number of batches which can be negotiated during trading hours on currencies, precious metals, CFDs and any other Financial Instruments. The minimum and/or maximum number of batches which can be negotiated by category of Financial Instrument may be published on the site www.credinvest.och and/or directly on the Platforms. The CFDs have different maturity dates which may not correspond to the maturity dates of the underlying products on the market. All positions opened in CFDs will be closed at the market price in effect on the maturity date and the positions will not be transferred to a new contract. The maturity dates of the CFDs can be found on the Platform.

The confirmations of the transactions carried out are sent to the Customer via alert (pop-up) on the Platform. If the Customer notes a difference between the operation concluded through the Online Trading Service and the confirmation, he/she must inform the Bank immediately upon receipt of the confirmation, and no later than 2 days from the conclusion of the operation. If the Customer does not receive any confirmation, he/she must notify the Bank within 2 working days of the conclusion of the operation. If, by this deadline, the Bank does not receive any objection, the confirmation is considered received and accepted. The Customer accepts without reservations all the transactions recorded on his/her Accounts/deposits as a result of using the Online Trading Service. The Customer commits to immediately notifying the Bank if, for any reason, an incorrect and/or not requested transaction message is displayed via the Online Trading Service.

Any claim concerning the execution or the failed execution of an order must be sent to the Bank in writing as soon as the Customer has proof of the problem and, in any case, before the opening of the market of reference, the day following that of the execution of the transaction. After this period of time, the Customer no longer has any rights, of any kind, against the Bank.

Should the Bank believe that the Customer is using the Account for illegal purposes it can, at its exclusive discretion, close all open positions of that Account, deducting and/or applying the fees anticipated for the operations carried out also previously on behalf of the Customer, and refuse to accept any further request from the Customer.

Data and information on the Market

The Bank is not responsible towards the Customer or third parties for:

a. any inaccuracies, errors, delays or omissions of any fact, information or message nor for the transmission or delivery of any fact, information or message;

b. any losses or damages deriving from/or which occurred as a result of inaccuracy, error, delay, omission, failed performance, interruption in any fact, information or message, due to any act of negligence or omission or to any condition of force majeure or any other cause, whether attributable or not to the sphere of control of the Bank or the supplier. No instruction or communication transmitted electronically by the Customer will be considered received by the Bank until the Bank knows about this instruction or communication.

Margin deposit, guarantee and payments The Customer is required to deposit at the Bank:

a. assets in a currency acceptable to the Bank, as initial margin or margin of change; b. assets requested from time to time by the Bank to execute a Contract;

c. assets necessary to liquidate positions or to cover debit balances of any Account.

The margin required may vary depending on the Financial Instrument traded, the stock exchange and the reference market, the volatility recorded or estimated and the trading and collateral volumes maintained by the Customer. More specifically, the Bank reserves the right to withhold a smaller margin percentage for amounts of collateral up to a certain notional amount. A smaller margin percentage entails greater Customer exposure to risk (higher financial leverage). The margin required for each Financial Instrument is stated directly on the Platform and may also be specified on the website www.credinvest.ch.

The Bank reserves the right to interrupt the Customer's transactions if the available margin is less than the level required by the Platform. Securities and cash present on the Platform may be blocked by the Bank in the amount to which they are used as collateral. The Customer may provide forms of guarantee other than liquid assets, in order to comply with his/her obligations in accordance with this Clause only subject to explicit agreement by the Bank. The Bank is free to decide which types of activity to accept as collateral and which percentage to apply as a haircut. The Bank can change, at any time, the type of activities accepted as collateral as well as the percentages of its haircuts applied without having to give the Customer any advance notice. The Platform might show the notional amount (expressed in the customer’s reference currency) which is blocked as collateral.. The Customer may find him/herself needing to replenish the margin given as guarantee very quickly to avoid the risk that the positions are closed and he/she loses all or part of the assets. The Bank reserves the right to send to the Customer a notice on the Platform and/or an e-mail notice (to the address specified in the Request to access the Online Trading Service) if the erosion of the margin should exceed a given percentage and the requests to replenish the margin. The Customer can see existing margins and assets on the Platform. The Customer is responsible for acknowledging the request to replenish the margin by the Bank on the Platform (and potentially by means of e-mail) and to take the necessary action. In some cases, changes may be so sudden as to require the closure of the Customer's positions without prior warning and without the possibility of replenishing the margin. If the Customer does not have or cannot provide sufficient margin on the positions, the Bank has the right, but not the obligation, to immediately interrupt transactions by means of the Online Trading Service, to close some or all of the Customer's open margin positions, without previous approval and without notice.

The Bank is under no obligation to guarantee that the deposit requirements of the margin have been satisfied by the Customer before stipulating a Contract, and that the obligations of the Customer towards a Contract are not reduced following any inability by the Bank to suspend payment of margin deposits before the stipulation of a Contract. The Customer is required to promptly deposit the amount due for the execution of a Contract, in conformity with its terms, and in compliance with all the instructions provided by the Bank so that they can fulfil the obligations anticipated by the contract, stipulated between the Bank and a third party.

The Bank may (but is not obliged to) convert possible sums of cash held by it on the Customer's behalf in a different currency, if this is considered necessary or appropriate in order to cover the obligations and the liabilities of the Customer in that currency, by applying the market rate plus its standard commissions. The Customer acknowledges that the possibilities of carrying out transactions are limited to the currencies for which a specific execution account has been

opened. The Bank reserves the right not to authorize the opening of individual accounts considered unsuitable for carrying out such operations.

Right of pledge, guarantee, compensation and conservation

The Bank, at any time, has the right to compensate the balances of the Accounts of the Customer (regardless of the denomination of the currency of the Account) or the cover every single balance individually. For credit claims stemming from the business relations between the Bank and the Customer, regardless of the maturity dates of these credits or the currencies in which they are denominated, both the guaranteed credits and the non-guaranteed credits, the Bank has a right of pledge, of guarantee and of retention on all the assets held in the name of the Customer or deposited in some other way at the Bank.

Statements

The Bank sends to the Customer for every Account, according to the time frame defined with the Bank, statements and asset assessments which include any Contracts in existence. The Customer must verify the contents of every document received from the Bank. These documents, without obvious errors, are to be considered final, unless the Customer notifies the Bank otherwise in writing within 5 work days following the receipt of that document.

Rights of the Bank

The Bank has the right to close without advance notice all or part of the Contracts in existence and to liquidaterealise the securities or other assets held by the Customer at the Bank, if one of the following events occurs or at any time after their occurrence:

a. the Customer does not make the payments due in accordance with these Conditions;

b. the Customer does not observe or does not fulfil all or part of the commitments of these Conditions, or has committed a substantial violation of representations, mandates or other commitments;

c. the Customer dies, is declared absent, missing, presumed dead or no longer in full possession of his/her faculties; d. a bankruptcy petition is filed against the Customer, or if the Customer is an association, against one or more of their

associates, or if the Customer is a company, any action is undertaken or proceeding is started or protection sought, according to the bankruptcy proceedings or bankruptcy law applicable towards or against them, including but not limited to, the adoption of possible measures for the appointment of a receiver, trustee, administrator or similar official who must operate in the context of the commitments or activities of the company or part of it.

e. there is a motion for the liquidation of the Customer;

f. an order has been filed or a resolution is approved for the liquidation of the Customer;

g. the Customer convenes a meeting with the purpose of establishing, proposing or stipulating any agreement for the benefit of his/her creditors;

h. a protective or enforceable proceeding is ordered against any property of the Customer, which is not resolved within seven days;

i. any mortgage guarantees or charges due by the Customer become enforceable;

j. any debt of the Customer or of one of his/her associates becomes immediately liquid and executable, or is susceptible to being declared liquid and executable, before its established maturity, due to non-fulfilment of the Customer (or one of his/her associates) or the Customer (or one of his/her associates) is not able to pay off the debt at its maturity date; k. the Bank or the Customer must terminate a Contract (or part of it) at the request of any authority or supervisory

organisation;

l. the Bank considers it reasonably necessary to protect its interests.

The Bank is authorised to group and/or consolidate all or part of the Accounts held by the Customer at the Bank, in order to compensate at any time any amounts due by the Customer. Any securities, guarantees or indemnities provided to the Bank by the Customer extend to any amount due by the Customer with reference to the exercise of the right of compensation.

Guarantees and Acceptances

At the time of signing the Request to access the Online Trading Service and at the time of the execution of every Contract, the Customer declares and confirms that:

a. he/she is not subject to any legal impediment regarding the acceptance of these Conditions or any Contract envisaged in these Conditions, and is not subject to any law or regulation which would prevent the execution of these Conditions or any Contract envisaged in these Conditions;

b. he/she has obtained all the authorisations necessary and has the power to sign this Request to access the Online Trading Service in accordance with these Conditions (if the Customer is a company, it is appropriately authorised and has obtained the necessary operating powers or authority of another kind in accordance with the Articles of Association and company records);

c. all the assets given as deposit or security, covered by these Conditions, may at any time be released from any burden, obligation, pledge or impediment;

d. he/she is acting in compliance with the laws to which he/she is subject including, but not limited to, all the tax regulations and rules, the regulatory requirements for the control of the exchanges and for the registration of the transactions;

e. the information provided to the Bank is complete and true.

The Customer confirms and guarantees that he/she is legitimised to sign the Request to access the Online Trading Service in accordance with these Conditions and that no legal restriction exists which could prevent its trading activity, which complies with the applicable laws, regulations and rules.

The Customer confirms that he/she knows and honours every regulation or procedure adopted by the Bank and by any supplier connected to the use of the Online Trading Service and has the necessary training to use it. The Customer may not (and cannot allow third parties to) copy, use, analyse, modify, transcribe, dismantle, reverse the mechanics, translate or convert any software given to him/her in connection with the use of the Online Trading Service. The Customer may not distribute the software or the Online Trading Service to any third party, unless after specific written communication to the Bank, which reserves the right to authorized or not this distribution.

Recording of conversations

The Customer acknowledges and specifically accepts that the Bank may record all telephone conversations between the Parties, including electronic communication and conversations held over the internet (e-mail or chat). These recordings will remain the property of the Bank and the Customer approves their use or transcription as element of proof by the Bank, in any dispute or controversy between the Bank and the Customer. Any recording or transcription produced by the Bank will be processed in compliance with usual procedures. The possible recording or transcription can be destroyed by the Bank in accordance with customs and standard practices.

Disclosure of the information

The Customer authorises the Bank to disclose the information which refers to him/her in case of requirements imposed by laws, regulations or supervisory authorities, including possible applicable market rules, without any obligation of advance notice.

The Customer is informed that, in case of trading in certain Financial Instruments, the Bank may be obliged to transmit his/her name to the local competent authorities (i.e. for trading in US futures above specific limits it is necessary to transmit the name of the Customer to the competent US authorities).

Communications

Any communication is notified each time by the Bank based on the relative purpose. Any communication can be made by Online chat or directly through a notice on the Platform and/or on the website www.credinvest.ch and is considered as having been made or (as applicable) issued at the time it is sent via chat and/or placed on the Platform and/or on the website www.credinvest.ch. The Customer must ensure that he/she becomes aware of any communication sent to him/her or which has been issued via chat and/or on the Platform and/or on the website www.credinvest.ch. The Bank is not liable for any delay or change affecting the message after transmission. Any communication by letter is considered carried out forty eight hours after it was sent to the address of the recipient with envelope stamped for priority post if it is an address in Switzerland or, in the case of an address outside Switzerland, five working days after it was sent to the address of the recipient by ordinary post. The Customer guarantees that the Bank will be able at any time to contact him/her by telephone, fax or e-mail or to contact a designated representative of his/her.

At the specific request of the Customer, the Bank holds (hold at bank) all the communication concerning the Customer. These communications held by the Bank are considered validly delivered to the Customer on the date they list, even if the actual delivery to the Customer occurs at a later date. The Customer commits to withdraw the correspondence being held by the Bank at least every twelve months. In the absence of actual delivery, the Bank can send the correspondence to the address notified by the Customer to the Bank via post or fax or, lacking a specific postal address, to the last known address of the Customer. The Bank does not assume any responsibility resulting from the holding of the communications for the Customer or from these being sent to the last known address of the Customer.

Communications can be sent by the Customer to the Bank by telephone, fax, e-mail or to the address notified to the Customer for this purpose and will be considered duly accomplished only when actually received by the Bank.

Joint Accounts

If the Account is opened in the name of more than one person (in the case of a joint Account), the liabilities of each person must be considered jointly and severally, and the Bank can act based on the orders received from any person in who's name the Account appears to have been opened.

Term

The Bank can, at its own discretion, interrupt or limit the Customer's access to the Online Trading Service at any time without advance notice. At the time of the termination, all the software licences granted the Customer are to be considered automatically lapsed. Should the Bank note any security risks, it has the right to discontinue at any time the Online Trading Service to protect the interests of the Customer and until these risks have been eliminated. The Bank is not responsible for any damages due to this interruption. Both Parties can terminate without advance notice the Request to access the Online Trading Service by written notification to the other party bearing the effective date of the cancellation. If this date is not indicated, the cancellation is effective immediately. In case of death, liquidation or bankruptcy of the Customer or other similar causes, the Bank has the right to terminate the Request to access the Online Trading Service effective immediately and without advance notice. The Bank can then close the positions of the Customer and safeguard the investments until the beneficiaries provide the Bank with pertinent instructions.

Compensation and limitation of responsibility

The Customer, by signing the Request to access the Online Trading Service, pledges to hold the Bank harmless against all losses, expenses, costs (including legal expenses), and any responsibility which derives, directly or indirectly, from the Bank's fulfilment of its own commitments, or in the exercise of its own rights, in accordance with these Conditions, or which result from any violation by the Customer to these Conditions. In addition, the Customer pledges to hold the Bank harmless (directors, officers, employees, control persons, vendors, authorised persons and agents of the Bank) from any claim, loss, responsibility, damage, cost or expense (including expenses of representation) stemming or relative to these Conditions and due to possible conduct and/or errors of the Customer. This duty of indemnity of the Customer will be binding also for the executors, administrators, heirs, successors and individuals appointed by the Customer and will remain in effect until the end of the Request to access the Online Trading Service. These indemnities are added to any other right, compensation or claim due the Bank in accordance with these Conditions and the general regulations and must not be affected by possible changes or limitations in these Conditions. These remain until cessation of the Request to access the Online Trading Service.

The Bank reserves the right to change these Conditions at any time. Changes may be notified to the Customer by publication of the updated version of these on the website www.credinvest.ch and/or on the Platforms. The changes are considered approved if no opposition is received in writing within 30 work days from their date of notification or by the deadline established by the Bank

The Customer acknowledges that to carry out the trading activity with the Online Trading Service, the Bank will use the services provided by counterparties, including brokerage services. The Customer will hold the Bank harmless for any loss resulting from activities carried out by the Bank with Third Parties on his/her behalf, including specifically possible assets placed by the Bank with the broker as deposit of guaranteed liquidity for the trading activity through the Online Trading Service carried out by the Customer.

These Conditions cannot in any way replace or modify what is provided by the General Terms and Conditions signed by the Customer at the time the business relationship was opened.

General provisions

The Bank is not responsible towards the Customer for failure to fulfil the obligations included in these Conditions if this non-fulfilment derives directly or indirectly from circumstances outside its reasonable control. Any delay or inability by the Bank in the exercise of its rights, pursuant to these Conditions, cannot be considered a waiver or a renunciation of these rights, nor does it compromise or prevent further or other exercise of these same rights.

Financial Terms and Conditions

The Customer declares to accept the Online Trading Service pricing applied by the Platform. Any pricing published oh the website www.credinvest.ch is purely indicative and may diverge from what applied by the Platform.

The Bank reserves the right to change at any time the fees and spreads applied, as well as to introduce new costs, by posting these directly in the Platform. More specifically, the Bank reserves the right to apply a minimum commission or vary the level of commission depending on the trading volumes of the Customer.

The Bank also reserves the right to receive commission for providing consultation on certain information (e.g. market data), available through the Online Trading Service. The nature of this information and the related commission are disclosed to the Customer by means of the Online Trading Service.

In addition to the commission applied by the Bank, the Customer must also pay current value added tax and all other taxes, duties and expenses connected with the conclusion of enforcement of the order/s or transfer of assets, including any fees due to counterparties (i.e. intermediaries or brokers). Before transmitting orders, the Customer commits to learn the Online Trading Service, its features and characteristics, the types of orders which can be carried out, the costs and the margin levels of the transactions.

The Bank reserves the right to take all positions in currencies that are open as of 11.00pm to the following trading day using the so-called "rollover position", debiting or crediting the Account with the difference in interest on the traded currencies (tom-next rollover). The Bank may do so automatically. More specifically, the Bank credits the various swap points (which measure the difference between the interest rates of the two currencies) to positions if the interest rate on the currency purchased is higher than the interest rate on the currency sold, whilst it debits the difference if the interest rate on the currency purchased is lower than the interest rate on the currency sold. The rollovers applied can be seen directly on the Platform.

The Customer is also aware that for transactions in CFD maintained in place until the next trading day, the Bank applies interest income/expense depending on the position held (long or short). If the Customer has a long position, it will be debited on the basis of the reference interest rate plus a mark-up determined by the Bank at its own discretion. If the Customer has a short position, it will be debited on the basis of the reference interest rate plus a mark-up determined by the Bank at its own discretion. The amount debited is calculated on the nominal value of the underlying asset at the time the CFD is opened (for both long and short positions).

The Customer declares that he/she has been informed and is aware that the Bank may receive payments of any kind from depositary banks, intermediaries, brokers or other counterparties and recognises the legitimacy of these payments. The Customer declares that he/she has been informed and is aware that the Bank may pay possible rebates or commissions to depositary banks, intermediaries, brokers or other counterparties that offer services to the Bank and/or the Client in connection with the Platform. The duty of information about these payments is on these counterparties.