 |
|
User Agreement |
FOR DEMONSTRATION PURPOSES ONLY
1DB ELECTRONIC TRADING AGREEMENT
Please carefully read this 1DB Electronic Trading Agreement
("Agreement") before using any of the computer and/or telephone trading
services of 1db.com.
IMPORTANT: Your use of 1db.com will indicate your acceptance to all the
below terms, including the terms of any 1st Discount Brokerage, Inc.'s,
or any divisions thereof, new applications', including, but not limited
to, the terms contained in the 1st Discount Brokerage, Inc. New Account
Applications, ("Other 1st Discount Brokerage, Inc. Agreements"). The
terms of the Other 1st Discount Brokerage, Inc. Agreements are
incorporated herein and are part of this Agreement. Your acceptance to
the terms detailed below and those provided for in the Other 1st
Discount Brokerage, Inc. Agreements is a condition precedent to your
use of this Service. If you do not agree to these terms, do not use
this service, defined below.
DEFINITIONS
· 1db.com is a PC modem and touch tone phone automated order execution
and information system brokerage service ("Service") of 1st Discount
Brokerage, Inc. and its affiliates or assigns (inclusively "1st
Discount Brokerage, Inc.").
· The term "I" means and includes "we" or "he" or "she" or "it", whichever is appropriate.
· The term "my" means and includes "our", as appropriate.
· The term "me" means and includes "us", as appropriate.
· The term "contained in" means and includes "consisting of",
"comprising", "embodying", "reflecting", "constituting" or "provided
for".
NATURE OF SERVICES PROVIDED - NO INVESTMENT ADVICE
1. I understand that all decisions relating to my investment or trading
activity under this Service will be made solely at my discretion. I
understand that this Service executes orders on instructions only and
does not act as an investment counselor or advisor. Furthermore, this
Service does not solicit orders, recommend securities for purchase or
sale, offer investment advise or render any opinions or judgments, or
answer inquiries concerning general or specific market conditions,
either present or future, or the value potential of investment in
specific securities or securities in general.
GENERALLY
2. In offering 1db.com, 1st Discount Brokerage, Inc. is making
available electronic brokerage services that allow me, via my PC modem
or touch tone phone, to enter orders to buy and/or sell certain
securities and obtain quotations and other information, including
account data, via electronic transmission. I agree to use 1st Discount
Brokerage, Inc.'s 1db.com Service, and any other service offered by and
through 1st Discount Brokerage, Inc., only in accordance with the terms
of this Agreement, and such other terms and conditions as contained in
Other 1st Discount Brokerage, Inc. Agreements.
3. General Terms and Conditions for order entry using the 1db.com Service are the following:
a) You cannot buy a security unless there is money on-hand in the account or SMA available.
b) The security to be sold must be long in the account in negotiable form before entering a sell order.
c) Option transactions are not permitted until the your Option
Agreement has been reviewed and approved by 1st Discount Brokerage,
Inc.'s Senior Registered Options Principal.
d) No uncovered option orders are permitted under this Service.
e) Short sales effected in the margin account, as applicable, must have
prior approval from an 1st Discount Brokerage, Inc. broker.
4. I warrant that I will be the only authorized user of this Service
under this Agreement. I agree that I will be responsible for the
confidentiality and use of my account number and sign-on password. I
understand that I will be solely responsible for all order entries
through this Service using my account number and sign-on password. All
orders will be deemed valid at the time of receipt by 1st Discount
Brokerage, Inc. and in the form received.
5. I further understand and agree that any orders given by me and any
information furnished to me by the use of this Service shall be subject
to the following terms and conditions:
a) I understand that 1st Discount Brokerage, Inc. shall not be deemed
to have received any order, either verbally or electronically
transmitted, from me until 1st Discount Brokerage, Inc. has
acknowledged to me that the order was received by 1st Discount
Brokerage, Inc..
b) All notifications regarding this Agreement shall be directed to your personal broker.
c) If any order has been placed through any 1st Discount Brokerage,
Inc. service and I have not received a reference number reflecting such
order I shall immediately notify 1st Discount Brokerage, Inc..
d) If any order has been executed through any 1st Discount Brokerage,
Inc. Service, and I have not received an accurate written confirmation
of the executed order within five business days, I shall immediately
notify 1st Discount Brokerage, Inc..
e) If I receive confirmation of an order that I did not place or any
similar conflicting report, I shall immediately notify 1st Discount
Brokerage, Inc..
f) I shall immediately notify 1st Discount Brokerage, Inc. if there is
an unauthorized use of my password or any other security data.
g) I shall immediately notify 1st Discount Brokerage, Inc. if there is a discrepancy in the account balance or stock positions.
h) I acknowledge and accept, without limitation or liability to 1st
Discount Brokerage, Inc. or any agents thereof, that when placing a
market order there will be times when a quoted price will change prior
to the trade's execution due to market circumstances and that not all
orders will be executed in chronological sequence with the order being
placed.
i) If I fail to immediately notify 1st Discount Brokerage, Inc.
regarding any of the above, neither 1st Discount Brokerage, Inc. nor
its affiliates or assigns can or will be held responsible or liable to
me, or to any other person whose claim may arise through me, for any
claims for damages of any sort, including both actual and consequential
damages, with respect to the handling, mishandling, or any act or
failure to act, in my Account.
j) I understand that each participating securities exchange asserts a
proprietary interest in all of the market data it furnishes to the
parties that disseminate the data and is protected by both U.S. and
foreign copyright. I also understand that neither any participating
securities exchange nor any supplier of the market data, including 1st
Discount Brokerage, Inc., guarantees the timeliness, sequence, accuracy
or completeness of the market data or any other market information or
messages disseminated by any party, including 1st Discount Brokerage,
Inc.. Although 1st Discount Brokerage, Inc. reasonably believes the
source to be reliable, 1st Discount Brokerage, Inc., or any agents or
assigns thereof, shall not be liable in any way for: (1) an inaccuracy,
error or delay, or omission of any such data, information, or message
or the transmission or delivery of any such data, information, or
message, or (2) any loss or damages arising from, or occasioned by, any
such inaccuracy, error or delay or omission, nonperformance, or
interruption of any such data, information or message, due either to
any negligent act or omission by any disseminating party to any "force
majeure" (i.e. flood, extraordinary weather conditions, earthquake or
other act of God, fire, war, insurrection, riot, labor dispute,
accident, action of government, communications, power or equipment
failure, or software failure or malfunction) or any cause beyond the
reasonable control of any disseminating party, including 1st Discount
Brokerage, Inc..
k) By use of this Service, I agree that there is no warranty of
merchantability, no warranty of fitness for a particular purpose, and
no other warranty of any kind, expressed or implied regarding the
information or any aspect of this Service, including, but not limited
to, the information accessed and the order execution.
l) By use of this Service, I agree that in no event will 1st Discount
Brokerage, Inc. or any of the data providers be liable to me or to
anyone for any incidental, consequential, special or indirect damages,
including, but not limited to lost profits, trading losses or damages
that result from inconvenience, delay or loss of access to my account
or to any 1st Discount Brokerage, Inc. service, or information
accessible therein, arising out of this Agreement, except as limited by
applicable law.
m) I agree that 1st Discount Brokerage, Inc. may discontinue any
presently available service in its entirety, at any time, without prior
notice, and that 1st Discount Brokerage, Inc. may modify or change the
terms of any service, in whole or in part, at any time from time to
time.
6. By use of this Service, I agree to pay all subscriptions, service
and user fees, if applicable, which I am charged by 1st Discount
Brokerage, Inc., or by any information provider, by the use of this
Service, and agree that such fees may be changed without notice by 1st
Discount Brokerage, Inc.. I agree to pay all costs (including
attorney's fees) incurred by 1st Discount Brokerage, Inc. in collecting
overdue fees or costs incurred by me by use of this Service. I also
agree to pay all Federal, State, and local taxes applicable to my use
or receipt of this Service, if any. I hereby grant 1st Discount
Brokerage, Inc. a continuing interest in the assets of my 1st Discount
Brokerage, Inc. brokerage account(s) to secure the timely payment of
all fees owed by me for any services provided and for any amounts that
may become owing by my use of an 1st Discount Brokerage, Inc. account.
7. 1st Discount Brokerage, Inc. reserves the right to terminate my
access to 1db.com, or any portion of this Service, at 1st Discount
Brokerage, Inc.'s discretion, without notice and without limitation,
for any reason whatsoever, including, but not limited to, the
unauthorized use of my access number(s) and code(s) and/or account
number(s), breach of any Other 1st Discount Brokerage, Inc. Agreements,
and discontinuation of 1st Discount Brokerage, Inc.'s access to any
data from any information provider or termination of one or more
agreements between 1st Discount Brokerage, Inc. and/or the information
providers and transmitters.
8. As a condition of being approved to use 1db.com, I represent and
agree that the following statements are, and will continue to be, true
for so long as I receive this Service:
a) I am making this Agreement in my individual or joint capacity, and
not on behalf of a firm, corporation, partnership, trust or association
or
any other third party.
b) I am not a securities broker-dealer, investment advisor, a commodity
merchant or introducing or trading or investment advisor.
ORDER FLOW PAYMENT STATEMENT DISCLOSURE
9. I acknowledge that 1st Discount Brokerage, Inc. and/or its clearing
agent, U.S. Clearing Corp., may receive remuneration for directing
orders to designated broker/dealers or market centers for execution.
Such remuneration is considered compensation to 1st Discount Brokerage,
Inc. and/or its clearing agent, U.S. Clearing Corp. Over-the-counter
securities and selected exchange services may be routed to designated
market makers or designated third market dealers based upon a
computerized system. All orders are executed at prices equal to or
better than the displayed national bid/offer prices. The source and
amount of any compensation received in connection with a transaction
and any additional information concerning order flow will be disclosed
upon written request.
SEVERABILITY
10. If any provision, part thereof, or condition of this Agreement, or
any Other 1st Discount Brokerage, Inc. Agreement, shall be held invalid
or unenforceable by any court or regulatory body or agency or
arbitrator thereof, such invalidity or unenforceability shall attach
only to such provisions or conditions or any part thereof. The validity
of the remaining provisions or parts shall not be affected thereby and
this Agreement or Other 1st Discount Brokerage, Inc. Agreements shall
be carried out as if such invalidity or unenforceable provision or
condition were not contained herein. Furthermore, any ambiguities in
language or intent of this Agreement or Other 1st Discount Brokerage,
Inc. Agreements shall not be held or construed against 1st Discount
Brokerage, Inc.
|
|
|
|
|
