1. This Notice applies to Customers who
have been introduced to Interactive Brokers ("Interactive") by Tiger
Brokers (NZ) Limited ("Introducing Broker"). Interactive Brokers and
Introducing Broker are parties to a Fully Disclosed Clearing Agreement pursuant
to which Interactive performs certain services with respect to your account and
other accounts introduced to Interactive by the Introducing Broker.
2. The terms and conditions of the
Interactive Brokers Customer Agreement and the Interactive Brokers Margin
Agreement apply to your account and are incorporated herein by reference. TO
THE EXTENT THAT THIS NOTICE DIFFERS FROM OR SUPERCEDES SPECIFIC PROVISIONS OF
THE INTERACTIVE BROKERS CUSTOMER AGREEMENT OR MARGIN AGREEMENT, THIS NOTICE
CONTROLS AND IS BINDING ON YOUR ACCOUNT.
3. Responsibilities of Interactive Brokers:
Interactive will be responsible for the following services regarding Customer
accounts:
a. Obtaining and verifying account
information and documentation and opening and closing Customer accounts.
b. Receiving, segregating, safeguarding and
delivering Customer funds, securities, and other property.
c. Extending credit to Customer accounts,
collecting margin from the accounts, and determining and enforcing credit or
margin limits applicable to the accounts.
d. Receiving orders from you or from your
Introducing Broker for your account and executing such orders and clearing
executed transactions.
e. Providing confirmations and statements
to Customers.
f. Accepting instructions regarding voluntary
corporate actions (e.g., tender or exchange offers) and accepting instructions
with respect to options and securities rights.
4. Responsibilities of Introducing Broker:
Introducing Broker will be responsible for the following services regarding
Customer accounts:
a. Introducing Customer accounts to
Interactive Brokers and providing Customers with instructions on how to apply
for Interactive Brokers accounts.
b. Providing all customer service and
technical support and responding to Customer complaints, inquiries and
requests.
c. Accepting Customer orders and
transmitting them to Interactive for execution (you may also submit orders
directly to Interactive through Interactive's order entry software).
d. Providing notice to Customers of
commission rates and fees.
5. Commissions and Fees: Introducing Broker
is responsible for notifying Customers of all commissions and fees applicable
to Customer accounts. Interactive will deduct applicable commissions and fees
from Customer accounts. Commission and fee payments owed by Customers may be
shared and allocated between Introducing Broker and Interactive as Introducing
Broker and Interactive agree from time to time.
6. Customer Service: Introducing Broker is
solely responsible for providing all customer service and technical support for
your account and for responding to your questions or inquiries concerning your
account, your orders and your trading. You should not contact IB customer
support directly, and instead you must contact the Introducing Broker. All
disputes and issues concerning Interactive's performance of its
responsibilities for Customer accounts (such as trading issues, execution
questions, margin and credit issues, etc.) will be forwarded to Interactive by
the Introducing Broker and Interactive will communicate the resolution to the
Introducing Broker (or in exceptional cases, the Customer). INTRODUCING BROKER
SHALL HAVE NO AUTHORITY TO BIND INTERACTIVE OR TO ENTER INTO ANY AGREEMENT,
UNDERSTANDING OR COMMITMENT GIVING RISE TO ANY LIABILITY OR OBLIGATION OF
INTERACTIVE.
7. Orders: Interactive Brokers is
authorized to accept orders from you or from your Introducing Broker for your
account. Interactive will not contact you to verify or confirm, prior to
execution, orders entered for your account by your Introducing Broker. ALL
DISPUTES REGARDING ORDERS ENTERED BY YOUR INTRODUCING BROKER ARE BETWEEN YOU
AND THE INTRODUCING BROKER. ERRORS IN COMMUNICATIONS OR TRANSMISSIONS OF ORDERS
FROM YOUR INTRODUCING BROKER TO INTERACTIVE ARE THE SOLE RESPONSIBILITY OF YOUR
INTRODUCING BROKER.
8. Account Information: Introducing Broker
is responsible for providing all customer and technical support regarding your
account and is therefore authorized to view all information regarding your
account. INTRODUCING BROKER'S MISUSE OR DISCLOSURE OF INFORMATION REGARDING
YOUR ACCOUNT IS SOLELY THE RESPONSIBILITY OF INTRODUCING BROKER AND INTERACTIVE
SHALL BEAR NO LIABILITY FOR ANY CLAIMS ARISING FROM INTRODUCING BROKER'S ACCESS
TO YOUR ACCOUNT INFORMATION.
9. No Investment or Tax Advice: You
acknowledge that neither Interactive nor its employees or representatives
provide any investment, tax or trading advice; nor do they solicit orders. You
further acknowledge that neither Interactive nor its employees or
representatives advise you or your Introducing Broker on any matters pertaining
to the suitability of any order; offer any opinion, judgment or other type of
information pertaining to the nature, value, potential or suitability of any
particular investment; or review the appropriateness of investment advice or
transactions entered by you or by Introducing Broker on your behalf.
10. Interactive does not control, audit or
supervise the activities of Introducing Broker or its registered
representatives. Neither Introducing Broker nor any of its officers, directors,
employees or representatives are employees or agents of Interactive, nor shall
they hold themselves out as such.