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NAB OnLine Trading Information, trading and settlement services provided by
Australian Investment Exchange Ltd
Australian Investment Exchange Ltd
AUSIEX Terms and Conditions of Share Trading Account
Effective 26 September 2006
Preamble - Relationship with NAB OnLine Trading
The NAB OnLine Trading service is an information, trading and settlement service provided by Australian Investment Exchange Ltd ABN 71 076 515 930, AFSL 241400 ("AUSIEX"). The NAB OnLine Trading Service was established by NAB OnLine Trading Limited ABN 83 089 718 249, which trades as "NAB OnLine Trading", and who facilitates access to the NAB OnLine Trading service.
These services are provided to NAB OnLine Trading's customers directly by AUSIEX:
- on the Trading Site ("Trading Site") which is operated by AUSIEX and accessed through the Entry Site on the nab.com.au/trading website, which is also operated by AUSIEX; and
- through the Telephone Service ("Telephone Service").
AUSIEX Terms and Conditions of Share Trading Account
Please also view the following Terms and Conditions required for share trading:
AUSIEX Terms and Conditions of Online Access
AUSIEX Terms and Conditions of Conditional Ordering
AUSIEX Terms and Conditions of Participant Sponsorship
AUSIEX Terms and Conditions of Cash Account
These Terms and Conditions apply to Your share trading account with Australian Investment Exchange Ltd ABN 71 076 515 930 of Level 7, 141 St Georges Terrace, Perth, Western Australia in relation to the provision of stock broking and other services as offered by Australian Investment Exchange Ltd from time to time.
1.0
Definitions
In these Terms and Conditions:
- "ASIC"
- means the Australian Securities & Investments Commission.
- "ASTC"
- means the ASX Settlement and Transfer Corporation Pty Ltd ABN 49 008 504 532.
- "ASX"
- means the Australian Stock Exchange Limited Group ABN 98 008 624 691.
- "ASX Market Rules"
- means the market rules of the ASX as amended from time to time.
- "AUSIEX"
- means Australian Investment Exchange Ltd ABN 71 076 515 930 of Level 7, 141 St Georges Terrace, Perth, Western Australia, a Participant of the ASX Group and Australian Financial Services Licensee No 241400.
- "Cash Account"
- means the account referred to in the Terms & Conditions of Cash Account.
- "Cash Account Provider"
- means National Australia Bank Limited if the Cash Account is a bank account with that entity, or National Australia Trustees Limited if the Cash Account is a Common Fund account.
- "CHESS Holding"
- means an uncertificated holding of financial products on a subregister for that class of securities maintained by ASTC.
- "Entry Site"
- means the Internet website nab.com.au/trading, or any other website notified to you.
- "Guarantor"
- has the same meaning given to it in the ASX Market Rules.
- "NAB Logon ID"
- see clause 3.1.
- "NAB OnLine Trading"
- means NAB OnLine Trading Limited ABN 83 089 718 249.
- "Prescribed Requirement"
- means a requirement in any law, the ASTC Settlement Rules, ASX Market Rules or the ACH Clearing Rules.
- "STP"
- means straight through processing, which refers to the automated processing of a securities trade through the Integrated Trading System (ITS), without any manual intervention or duplicate processing.
- "Telephone Service"
- means the Stockbroking and related services accessed through the call centre number 13 13 80, or any other number notified to you.
- "Terms of Issue"
- has the same meaning given to it in the ASX Market Rules.
- "Trading Site"
- means the internet site accessed from the Entry Site.
- "Trading Status"
- the same meaning given to it in the ASX Market Rules.
- "Warrant"
- has the same meaning given to it in the ASX Market Rules.
- "Warrant-Issuer"
- has the same meaning given to it in the ASX Market Rules.
- "You"
- means the person, persons or company that opened a share trading account with AUSIEX through the Trading Site and to the extent relevant, includes your authorised representative.
- "Your Account"
- means the share trading account opened by You with AUSIEX through the Trading Site.
General
2.1
These Terms and Conditions apply to all dealings between You and AUSIEX and are subject to the Corporations Act, Rules, procedures, customs, usages and practices of the ASX and the ASTC as amended from time to time.
2.2
You acknowledge that the ASX have the power to cancel, amend or require the cancellation or amendment of market transactions or crossings and accordingly you will be bound by any decision relating to the cancellation or amendment of a market transaction or crossing.
2.3
Each dealing is also subject to the terms of the relevant Confirmation issued by AUSIEX, subject to correction of errors and omissions, and the usual trading guidelines and policies of AUSIEX. The relevant Confirmation is subject to any applicable Prescribed Requirement, including the ASX Market Rules and the Corporations Act.
2.4
Each dealing conducted at the Trading Site is also subject to the Terms and Conditions of Online Access set out at the Trading Site at the time of dealing, as amended from time to time. If You use the Telephone Service, you authorise AUSIEX to record any telephone communications between Yourself, Your authorised representative(s) and AUSIEX, with or without an audible tone-warning device.
2.5
If You are more than one person, then all persons are jointly and severally bound by these Terms and Conditions.
2.6
You acknowledge that AUSIEX reserves the right to refuse any application to open a share trading account in AUSIEX's absolute discretion.
2.7
You acknowledge that AUSIEX reserves the right to terminate or suspend Your Account at any time without any reason whatsoever and without prior notice.
2.8
You agree to enter into a CHESS or Participant Sponsorship Agreement with AUSIEX.
2.9
You agree to maintain a Cash Account. You agree that AUSIEX is irrevocably authorised by You to operate this account (including withdrawal of monies) on Your behalf to meet Your obligations under these Terms and Conditions. You also agree that all proceeds of Your "Sell" orders are to be paid into this account or any bank account nominated and authorised by You in writing from time to time. You irrevocably direct AUSIEX to deduct from Your Cash Account from time to time and to the maximum extent permitted by the Corporations Act, any and all amounts owed by You to AUSIEX under or in connection with these Terms and Conditions, including without limitation any amounts due to AUSIEX in respect of any costs, fees, expenses, taxes or reimbursements.
2.10
Your NAB Logon ID will be recorded by AUSIEX, and used when sending a request to your Cash Account Provider to provide details of your account balance and to operate your account as described in clause 2.
3.0
Security Identification
3.1
In order to use this service, you must have a NAB Identification Number (NIN) and a NAB Identification Password (NIP) (collectively, "NAB Logon ID") issued by the National Australia Bank Limited or one of its related bodies corporate.
3.2
To access the Trading Site, you will need to provide the NAB Logon ID.
3.3
AUSIEX will provide You with a Trading PIN and Keyword (collectively, "Trading Logon ID") in order that You may identify Yourself when giving instructions to AUSIEX. The Keyword will be used to identify you if you use the Telephone Services.
3.4
If You have previously been issued with a Trading PIN and/or Keyword by NAB OnLine Trading before the commencement of this agreement, that Trading PIN and/or Keyword will continue to apply until modified by AUSIEX or you. AUSIEX may provide You (including each and every person if there is more than one of You) and each authorised representative for Your Account with an individual Trading PIN or Keyword (collectively, "Individual Trading Logon ID").
3.5
You and Your authorised representative(s) are solely responsible for the confidentiality and use of Your Trading Logon ID and Individual Trading Logon ID. You will notify AUSIEX immediately if You become aware of any loss or theft or unauthorised use of Your Trading Logon ID or any Individual Trading Logon ID or any part thereof. After such notification AUSIEX shall as soon as reasonably possible disable access to Your Account for such Trading Logon ID or Individual Trading Logon ID and shall issue a replacement Trading Logon ID or Individual Trading Logon ID accordingly.
3.6
AUSIEX is entitled to assume that any instruction received:
| (a) | via the Trading Site containing Your Trading Logon ID or any Individual Trading Logon ID; or |
| (b) | via the Telephone Service, and containing the Keyword, and Your Trading Logon ID or any Individual Trading Logon ID. |
3.7
AUSIEX deems that the person using an Individual Trading Logon ID or any part of it when giving instructions is the person to whom the Individual Trading Logon ID is assigned to.
4.0
Your Representations And Warranties
4.1
You warrant that all information provided by You on Your application to open a share trading account with AUSIEX or such other information provided by You from time to time, is accurate and complete, and that AUSIEX may rely on the information provided by You. You will notify AUSIEX in writing within seven (7) business days of any change in the information provided by You. AUSIEX shall update such information on our records as soon as reasonably possible.
4.2
You acknowledge that:
| (a) | AUSIEX provides an execution-only service and does not give any advice or recommendation in relation to Your dealings; |
| (b) | AUSIEX does not act on a discretionary basis on Your behalf; |
| (c) | You rely on Your own judgement, assessment or evaluation in view of Your financial situation, investment objectives and particular needs before placing any order with AUSIEX to buy or sell any financial product or giving any other instruction. |
4.3
If You are a trustee or an agent, You are bound by these Terms and Conditions as a trustee or an agent, and personally. If You are a corporation, the directors are also bound by these Terms and Conditions.
4.4
You warrant that You have the power and the authority to agree to these Terms and Conditions, and to carry out Your obligations under them. If You are a corporation, You warrant that You hold a valid ACN, ABN or ARBN.
4.5
You warrant that You are and at all times will be in a position to meet all the commitments of Your dealings with AUSIEX.
5.0
Instructions
5.1
AUSIEX reserves the right at all times to decline to act on Your behalf in relation to any particular dealing or decline to accept Your instructions, whether provided via the Trading Site or via the Telephone Service, without giving any reason or explanation or prior notice.
5.2
Without limitation to condition 5.1 AUSIEX reserves the right to decline to act on Your behalf or accept Your instructions:
| (a) | unless You have deposited in advance with AUSIEX sufficient cleared funds in Australian currency to cover the full value and costs of any "Buy" orders and when such funds are through a foreign financial institution, by way of telegraphic transfer only; |
| (b) | unless You have sufficient CHESS Holdings sponsored by AUSIEX to meet the obligations arising from any "Sell" orders; |
| (c) | where the original instruction is more than one calendar month old; |
| (d) | where the security or other investment medium has been subject to a trading halt and You have not reconfirmed Your instruction after the halt has been lifted; or |
| (e) | where Your instructions are believed by AUSIEX to be unclear, ambiguous or incomplete; or |
| (f) | where in the opinion of AUSIEX, Your instructions breach or may breach any law or statutory or other regulatory requirements, including without limitation any rules or regulations of the ASX. |
5.3
You authorise AUSIEX to accept instructions on Your behalf from Your authorised representative(s) and You confirm that Your authorised representative has the power to do the following in Your name and on Your behalf from time to time:
| (a) | to give instructions to AUSIEX relating to Your Account; |
| (b) | to acquire, buy, deal with and dispose of any financial product; |
| (c) | to pay or receive payment for any financial product transactions and related expenses and to give good receipt and discharge for the financial product, proceeds and other monies; |
| (d) | to execute all necessary or proper contracts and other documents for the custody, dealing and transfer of financial product and related matters; and |
| (e) | to exercise all rights and privileges and perform all duties and obligations which may now or in future apply to You as a holder of financial product. |
5.4
You agree to ratify and confirm all actions carried out by AUSIEX on the instructions of Your authorised representative(s).
5.5
When You are more than one person, AUSIEX may accept instructions from one or more of You on behalf of all of You.
5.6
You agree that all risk and liability for any unauthorised instructions or fraud lies with You alone and that You will indemnify AUSIEX from all loss, costs and expenses arising from such unauthorised instruction or fraud.
5.7
AUSIEX has the right to request written confirmation of instructions before acting on any instructions from You or Your authorised representative(s).
5.8
AUSIEX may assume the authenticity of any instructions given or purportedly given orally, in writing or by electronic means (including any electronic instructions which include all or any part of Your Trading Logon ID or Individual Logon ID) by You or Your authorised representative(s), or that any person claiming to be Your authorised representative is in fact that person. AUSIEX is not obliged to enquire into any of the matters mentioned in this condition and You authorise AUSIEX to act upon such instructions believed by AUSIEX to be authentic.
5.9
AUSIEX will use its best endeavours to execute Your instructions or orders accepted by AUSIEX, but AUSIEX will not guarantee that Your instructions will be wholly or partially executed or will be executed by a certain time.
5.10
You acknowledge that Your orders may be purged from the market subject to the procedures, customs, usages and practices of the ASX without notice to You. You further acknowledge that AUSIEX is not obliged to notify You of any orders which are purged from the market, although AUSIEX will make all reasonable endeavours to notify You of such. AUSIEX is not liable if You do not receive notification in this regard. An order that is cancelled or purged by the ASX will not be reinstated by AUSIEX without instructions from You.
5.11
You authorise and appoint AUSIEX, each of its directors and employees as Your attorney to enter into any contract or agreement with another party on Your behalf upon receiving Your instructions (such instructions may be given by You electronically and accepted by AUSIEX in accordance with clause 5.9) to do so. You acknowledge that all liability for such contracts are Yours alone. You will indemnify AUSIEX against all loss, expense or any other liability in relation to such contracts or agreements.
5.12
You authorise AUSIEX to record any telephone communications between Yourself, Your authorised representative(s) and AUSIEX, with or without an audible tone-warning device.
5.13
In case of dispute, AUSIEX's records of electronic or telephone communications or facsimile transmission shall be conclusive evidence of the details of the communications by email, internet, telephone or facsimile (as the case may be) between You and AUSIEX.
5.14
If you request us to provide you with email or SMS message alerts, you must provide us with a valid email address or mobile telephone number. You agree to prepay us for each email and SMS alert you choose to receive on your Account. Unused paid alerts will not be redeemed for cash or credit. If you prepay for alerts, the number of alerts prepaid are valid for a maximum of 12 months before they become null and void.
5.15
If you do not have Cleared Funds to pay for your email or SMS message alerts, AUSIEX may refuse or revoke your access to the message alerts service.
5.16
We do not guarantee the performance of any email, phone or alternate service provider. You acknowledge that your receipt of messages (including SMS messages and emails) is dependent on other service providers not controlled by or associated with us, including and without limitation, your chosen internet service provider or mobile telephone service provider.
5.17
The fees and charges applicable to your Account can be located in AUSIEX's Financial Services Guide or on the Trading Site.
6.0
Straight Through Processing (STP)
6.1
AUSIEX has provided You with access to STP.
6.2
You acknowledge the following in relation to Your access to STP:
| (a) | any orders placed by You using STP will need to meet filters set by AUSIEX from time to time. AUSIEX may amend its filters from time to time without notification. AUSIEX is not required to inform You what the filters are; |
| (b) | that it is possible for an order placed by You to be matched with another order also placed by AUSIEX. This 'crossing' may be with an order by another client of AUSIEX or by AUSIEX itself. AUSIEX may as a result receive brokerage from both clients; |
| (c) | that STP is only available on 'limit' orders for securities with a normal status (i.e. not suspended or in a trading halt) and is operated between the hours of 9:30 am and 4:00 p.m. Australian Eastern Standard Time; |
| (d) | At Market orders can only be accepted during market hours (10:00 am - 4:00 pm) Australian Eastern Standard Time, in securities with a normal status (i.e. not suspended or in a trading halt). STP is available on market orders; and |
| (e) | if Your order does not pass the filters, then it will be referred to a Designated Trading Representative ("DTR") for evaluation. In some cases the DTR has the authority not to place the order on market until You become contactable to confirm the order. AUSIEX is not liable for any delays in placing Your order as a result or for Your order not being placed at all; and |
| (f) | that the Integrated Trading System ("ITS") operating schedule defines the various phases of ITS and at what time they happen. You are aware that an important point is the Opening phase, in which the market opening times are staggered depending on the starting letter of the ASX code. ITS will not allow input of orders during these opening times. The schedule below approximately describes these various phases. |
6.3
You acknowledge that AUSIEX, as trading participant, must ensure the conduct of an orderly market and prevent manipulative trading, including insider trading, false trading, market rigging and suspect transactions. Therefore in utilising STP You should realise that an order may be scrutinized by both the filters and a DTR.
6.4
You acknowledge that AUSIEX is required to prevent a bid, offer or dealing if any client intends to create, or taking into account the circumstances of the order, AUSIEX reasonably suspects that the client has placed the order with the intention of creating a false or misleading appearance of active trading in any financial products or with respect to the market for, or the price of any financial products, or market rigging or manipulation or suspect transactions. You acknowledge and agree that AUSIEX reserves the right to decline to act on Your behalf or accept Your instructions or process any orders placed through STP where in the opinion of AUSIEX, Your instructions breach or may breach any law or statutory or other regulatory requirements (including without limitation any rules or regulations of the ASX).
6.5
AUSIEX reserves the right to terminate Your access to STP at anytime in AUSIEX's absolute discretion.
7.0
Payments And Indemnity
7.1
You will pay AUSIEX brokerage fees and charges as specified by AUSIEX from time to time; and reimburse AUSIEX for any fees, taxes, consumption or value-added tax, stamp duty or any other charges levied in relation to each transaction. AUSIEX reserves the right to vary such fees and charges, and method of charging, at any time and without prior notice.
7.2
If the goods and services tax ("GST") has application to any supply made by AUSIEX under or in connection with Your Account with AUSIEX under these Terms and Conditions, AUSIEX will in addition to any amount or consideration payable under these Terms and Conditions, recover from You an additional amount on account of the applicable GST.
7.3
You agree that AUSIEX may receive commissions from the issuers of financial products or from any other party arising from Your use of Your Account and AUSIEX is not obliged to rebate these commissions to You. You agree that AUSIEX will pay commissions to NAB OnLine Trading based on the amount of commission received by it as described in this clause.
7.4
You agree that AUSIEX will pay commissions to NAB OnLine Trading on brokerage received by AUSIEX from You based on trades entered into by You arising from Your use of Your Account.
7.5
You acknowledge that Your order may be matched with an order or orders of another client of AUSIEX. If this occurs You agree that AUSIEX may receive brokerage from both parties to the trade.
7.6
You irrevocably authorise AUSIEX to appropriate any payments, remittances or receipts from You or for Your Account in such manner and order of priority as AUSIEX deems fit against any amounts owing by You to AUSIEX or a related entity of AUSIEX.
7.7
You will indemnify AUSIEX, its directors and employees against all actions, claims, demands and proceedings, expenses and losses incurred, (including legal costs on a solicitor and client basis) directly or indirectly incurred by AUSIEX as a result of undertaking or executing Your instructions or orders or any failure by You to comply with this Agreement, the Corporations Act, the ASX Market Rules, ASTC Settlement Rules, and the customs, procedures, usages or practices of the ASX, or Your use of Your Account with AUSIEX.
7.8
Any expenses, costs or disbursements incurred by AUSIEX in recovering any outstanding monies from you including debt collection agency fees and solicitors costs shall be paid by you. You indemnify AUSIEX in respect of all such expenses, costs or disbursements.
7.9
AUSIEX is entitled to retain any financial products or amounts due to you pending payment of any amounts due to AUSIEX and to set off amounts due to AUSIEX against amounts that AUSIEX hold for you in any account. If you fail to make payment to AUSIEX, AUSIEX has a general lien over and power to sell or realise any financial products AUSIEX holds for you.
8.0
Failure To Settle
8.1
If You fail to settle by settlement date for any transaction arising from Your instructions, You agree to pay to AUSIEX on demand interest on any outstanding amount arising from the failure at a rate equal to 5% above the NAB Overdraft Index rate calculated daily from the due date to the date of payment. You also agree to pay any fail fees arising from the failure to settle.
8.2
If by the settlement date, You have not made full payments for Your purchases or good delivery for Your sales, and a demand for payment or delivery has been made, then You authorise AUSIEX to sell or buy back on Your behalf at Your risk and expense (including without limitation, brokerage, stamp duty and other costs), any financial products that are the subject of the Confirmation or any financial products outstanding in Your Account or any of Your financial products in AUSIEX's control or possession and apply the proceeds in reduction of Your liability to AUSIEX AND You irrevocably authorise AUSIEX, each of its directors and employees as Your attorney to give instructions accordingly.
9.0
Other Authorities & Acknowledgements
9.1
You authorise AUSIEX to provide information about You to any of its related entities and their respective officers and employees. You also authorise AUSIEX to supply information about You that AUSIEX may hold from time to time (including details of orders placed and trades entered into by You, other transactions conducted by You through or in connection with the Trading Site, and other information concerning You that AUSIEX may receive from Your use of the Trading Site or any associated website, but excluding Your NIN and security details) to NAB OnLine Trading for use by it (including for use by NAB OnLine Trading in calculating any commissions due to NAB OnLine Trading from AUSIEX based on trades entered into by You, and for use by NAB OnLine Trading in marketing further services to You).
9.2
You authorise AUSIEX to provide information about You and Your transactions to ASX, ASTC and ASIC as required by any of them from time to time.
9.3
You authorise AUSIEX to provide relevant information about You to a credit-reporting agency in relation to the establishment of Your Account and in relation to the recovery of any overdue payments.
9.4
You acknowledge that you have read and understood AUSIEX's Financial Services Guide contained on the Trading Site prior to receiving any financial service from AUSIEX and prior to making any decision to invest.
9.5
You authorise AUSIEX to supply information contained in Your application form and AUSIEX's other records held from time to time (including details of orders placed and trades entered into by You, other transactions conducted by You through or in connection with the Trading Site, and other information concerning You that AUSIEX may receive from Your use of the Trading Site or any associated website, but excluding Your Trading PIN and security details) to NAB OnLine Trading for use by it (including for use by NAB OnLine Trading in calculating any commissions due to NAB OnLine Trading from AUSIEX based on trades entered into by You, for administering the services provided by it to you, exercising its rights under the Terms and Conditions and for use by NAB OnLine Trading in marketing further services to You).
9.6
You acknowledge that you have read and understood AUSIEX's privacy policy contained on the Trading Site. By conducting a trade through the Trading Site You agree and acknowledge that AUSIEX may deal with Your information in accordance with AUSIEX's privacy policy (as amended from time to time).
9.7
You acknowledge that you have read and understood AUSIEX's "Fair Go Policy" contained on the Trading Site. You agree that You will access and use the Trading Site in accordance with the Fair Go Policy (as amended from time to time). In particular, by accessing the Trading Site You agree and acknowledge that:
| (a) | all free access to the Trading Site and other services is subject to reasonable usage; and |
| (b) | if at any time AUSIEX in its discretion considers a customer's usage to be unreasonable, AUSIEX may suspend or refuse access to its services, including the Trading Site and the Telephone Service. |
9.8
If You wish to deal in Warrants, You agree that:
| (a) | You have received and read a copy of the Explanatory Booklet issued by the Australian Stock Exchange Limited (the ASX) in respect of Warrants; |
| (b) | You are aware that a Warrant has a limited life and cannot be traded after its expiry date; |
| (c) | You are aware that Warrants do not have standardised Terms of Issue and acknowledge that it is Your responsibility to become aware of the Terms of Issue of any Warrant in which You choose to invest; |
| (d) | You are aware that Warrants may be subject to adjustments after their initial issue. You acknowledge that it is Your responsibility to become aware of any adjustments which may have been made to any Warrant in which You choose to invest; |
| (e) | You are aware that admission to Trading Status of a Warrant does not imply that the ASX or the Securities Exchanges Guarantee Corporations Limited gives any guarantee or warranty as to the viability of the Warrant-Issuer or Guarantor; and |
| (f) | You acknowledge that failure of the Warrant-Issuer or the Guarantor (if applicable) to fulfill their obligations does not give rise to claim against ASX, handling Member Organisations or the Securities Exchanges Guarantee Corporations Limited. |
10.0
Liability
10.1
You acknowledge that the systems used in the market or at AUSIEX are vulnerable to disruptions or failure, which may result in Your order not being executed or delayed according to Your instructions. You release AUSIEX from any loss, damage or liability that You may suffer or incur by reason of or in connection with any such disruption or failure.
10.2
To the maximum extent permitted by law, You acknowledge that AUSIEX will not be liable to You or anyone else for any loss or damage, whether direct or indirect, special, incidental or consequential or economic (including loss of profits), whether or not AUSIEX knew or could have known of the possibility of such damage, where that damage arises from:
| (a) | delay, interruption, omission, failure, error or fault in the execution of Your instructions (including negligence); |
| (b) | delay in the execution of Your instructions arising from a review of Your instructions by AUSIEX; |
| (c) | any error, omissions, non-receipt or invalidity in Your instructions; |
| (d) | any fault, error, defect or engineering of the Trading Site or AUSIEX's computer systems, or any delay, fault, failure in or loss of access to the Trading Site; and |
| (e) | any cause beyond the reasonable control of AUSIEX, including but not limited to, failure of electronic or mechanical equipment or communication lines, unauthorised access or labour problems. |
10.3
Nothing in sub-clauses 10.1 and 10.2 shall exclude any implied condition or warranty the exclusion of which would contravene any statute or cause any part of these Terms and Conditions to be void or invalid.
10.4
To the maximum extent that liability can be limited, You agree that AUSIEX's liability is limited to the cost of resupplying its services.
11.0
Variation And Termination
11.1
You may terminate Your Account by giving not less than five (5) clear business days written notice to AUSIEX. Termination will not affect any rights or obligations accrued prior to termination.
11.2
AUSIEX may terminate Your Account by giving not less than five (5) clear business days written notice to you, Termination will not affect any rights or obligations accrued prior to termination.
11.3
Termination of Your Account will result in a termination of the contract between you and NAB OnLine Trading. Similarly, termination of the contract between you and NAB OnLine Trading, will result in a termination of Your Account.
11.4
AUSIEX may at any time change the Terms and Conditions applying to your Account. AUSIEX will notify You of changes by giving You at least five (5) clear business days notice before the change takes effect. AUSIEX will either write to you (by email or mail) or place an advertisement in The Australian Newspaper. Any continued use by You and Your Account and its services is an acceptance of the variation.
11.5
However, AUSIEX does not need to give you advance notice where any variation of these Terms and Conditions is required to comply with a prescribed requirement or is necessitated by an immediate need to restore or maintain the security of the system or individual accounts.
12.0
Notice
12.1
Any notice given by either party, or demand made by AUSIEX, may be made by facsimile, by post or by email to the last notified address, facsimile number or email address as the case may be. Such notice or demand shall be deemed to have been received:
| (a) | if given by post will be deemed to have been received on the third Business Day following posting; |
| (b) | if given by facsimile, will be deemed to have been received upon production of a transmission report by the machine from which the facsimile was sent which indicates that the facsimile was sent in its entirety to the facsimile number of the recipient; |
| (c) | if given to you electronically will be deemed to have been received upon delivery (and a delivery report received by us will be conclusive evidence of delivery even if the communication is not opened by you); and |
| (d) | if given to us electronically will be deemed to have been received upon being opened by us. |
12.2
Any notice given to AUSIEX or NAB OnLine Trading, through the service, will be deemed as having been given to AUSIEX and NAB OnLine Trading.
12.3
AUSIEX at its discretion may send any Confirmation in relation to any transaction on Your behalf by:
| (a) | pre-paid post to Your last notified address. Such Confirmation shall be deemed to have been received on the business day following posting; or |
| (b) | email, facsimile transmission or electronic data interchange (including over the World Wide Web) to Your last notified email address or facsimile number when such address or number is provided by You. You acknowledge that You consent to receiving Your Confirmation by such electronic communication. You further acknowledge that the conditions set out in ASX Market Rule apply to such Confirmation. Any Confirmation sent to You by such electronic communication shall be deemed to be received on the day it was sent. |
13.0
Dispute Resolution
13.1
Any disputes between You and AUSIEX will be referred to the Financial Industry Complaints Service ("FICS") if the dispute is within the jurisdiction of FICS. If the dispute is not within the jurisdiction of FICS, or cannot be settled through it processes, the parties will appoint a mediator and attend mediation in order to resolve the dispute.
14.0
Applicable Law
14.1
This Agreement is subject to the laws of the State of Victoria, and the parties agree to submit to the non-exclusive jurisdiction of the courts of Victoria, but AUSIEX may commence proceedings in another competent jurisdiction.
The Schedule
| Time (EST) | Market Phase | Notes | ||||||||||||||||||
| 7:00 to 10:00 am | Pre-opening | ITS allows the entry of bids/offers; order amendments; order cancellations; ticking of orders; reporting of off market trades; trade cancellations. ITS does not execute trades automatically during pre-opening. | ||||||||||||||||||
| Approx 10:00 am to 10:09 am | Opening | ITS opening times are staggered
depending on the starting letter of the
ASX code for the security. ITS does not
allow the input of orders during the
opening, whether for the market as a
whole, or for an individual security.
|
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| Approx 10:09 am to 4:00 pm | Normal trading | ITS allows the input of bids/offers; order amendments; order cancellations; ticking of orders; enquiries; input of trades; trade cancellations. ITS executes trades automatically during normal trading. | ||||||||||||||||||
| 4:00 pm | End of trading | The market is placed into an enquiry-only mode to allow for system processing or closing. This may last for a few seconds to a few minutes. |
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 Security Update - 21 Nov 2008
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