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Stocks, Bonds, Options, Futures, Foreign Exchange, CTA

& Trading System Managed Accounts



38 Main Highway
Ellerslie
Auckland
Ph: (64-9) 525-6511




Account Opening Agreement
Introducing Broker Agreement

9 This agreement is for clients who wish to open an ASX and International Equities & Derivatives Account on the
general terms and conditions contained as an appendix to this document
or
9 For clients who wish to invest into a trading system to be managed by Strategic Capital Management



Page 1


Interactive Brokers LLC Account Application
for Financial Advisor Clients

For Proprietary Trading Groups (Corporations, Partnerships, LLCs, Unincorporated Businesses)

This application form is for Interactive Brokers organization account applicants whose account will be managed by an
advisor.
Do not use this application if your account will not be managed by an advisor. Do not use this application for an individual,
joint, trust or IRA account. Do not use this application if you reside in the UK.
Please check to ensure that you have completed all of the below steps before you return your applicati on to us:

Instructions:
Compl et e Al l Appl i cat i on Forms.
Speci fy Advi sor Fee Arrangement .
Fi l l Out t he Securi t y Quest i on and Answer Sect i ons (Page 6).
Provi de Al l Requi red Si gnat ures. Si gnat ures Are Request ed On The Fol l owi ng Pages:
Page 1 9
Page 2 2
Page 2 2
Page 2 5
Provi de Inst ruct i ons For Ini t i al Deposi t Of Funds And/ Or Securi t i es To Your Account .
Include Required Proof Of Identity And Address For Each Account Holder:
Proof of Identity for Account Holder
Separate Document as Proof of Address for Account Holder
Proof of Identity for Joint Account Holder (If Joint Account)
Separate Document as Proof of Address for Joint Account Holder (If Joint Account)
Ret urn Compl et ed Appl i cat i on Package, al ong Wi t h Proof Of Ident i t y And Address Document s For Each Account
Hol der, and a Check (If you Are Fundi ng your Account Wi t h a Check) To your Advi sor Or To Int eract i ve Brokers. If
Sending To Interactive Brokers Directly, Use Any of the Following:

Scan and Email
Couri er/ Overni ght Servi ce
(e.g., Fed Ex)
Andrew. gi bbs@st rat cap. co. nz
38 Main Highway
Ellerslie
Auckl and
Mail
(Please allow extra time for processing)
38 Main Highway
El l ersl i e
Auckland

Thank you for Choosing Strategic Capital Management


U800587 - IB LLC Account Application for Financial Advisor Clients (Individual/Joint) - Sep 03 2009
IB LLC Account Application for Financial Advisor Clients (Proprietary Trading Groups) - Sep 22 2009 Page 2
Account Number:
I. Account and Applicant Information

Name of Your Financial Advisor Name of Advisor' s Firm (if any)

Country of Legal Residence St at e/ Provi nce
Account Type
Par t ner shi p
Cor por at i on
Limited Liability Company
Uni ncorporat ed Busi ness
The Proprietary Trading Group is a hedge fund, mutual fund or si mi l ar col l ecti ve i nvestment vehi cl e contai ni ng i nvestor or
customer funds.
If you checked the above box, STOP: Pl ease do n o t use t hi s appl i cat i on i f your Propri et ary Tradi ng Group i s a hedge fund, mut ual
fund or ot her col l ect i ve i nvest ment vehi cl e cont ai ni ng i nvest or or cust omer funds. Int eract i ve Brokers has a separat e and speci fi c
application form for these account types. Please ask your IB Sales Representative or visit the IB website at
www. i nt eract i vebrokers. com .

P a g e 3 I B L L C Ac c o u n t Ap p lic a t io n f o r F in a n c ia l Ad v is o r Clie n t s ( Pr o p r ie t a r y T r a d in g G r o u p s ) - Se p 2 2 2 0 0 9
Andrew Gibbs Strategic Capital Management
New Zealand Auckland
Identification
Propri et ary Tradi ng Group Name:
Descri pt i on of t he Propri et ary Tradi ng Group' s Business:
Propri et ary Tradi ng Group' s Tax or Government -Issued Ident i fi cat i on
Number :
Count ry t hat Issued t he Propri et ary Tradi ng Group' s Tax or
Ident i fi cat i on Number:
Principal Place of Business of the Proprietary Trading Group (no P. O. boxes or "in care of" addresses allowed)
NOTE: Pri nci pal pl ace of busi ness i s defi ned as t he pri nci pal l ocat i on of t he fi rm where i t s offi cers and empl oyees are l ocat ed and where day-
t o- day oper at i ons ar e conduct ed.
If t he Propri et ary Tradi ng Group was creat ed i n an offshore j uri sdi ct i on or uses t he servi ces of a regi st ered agent , and no act ual offi cers or
empl oyees are l ocat ed at t he offshore or regi st ered agent address, pl ease do NOT l i st t hi s address as t he fi rm' s pri nci pal pl ace of busi ness.
Rat her, you shoul d l i st t he address from whi ch oper at i ons are conduct ed and where offi cers are physi cal l y l ocat ed.
St reet Address
City St at e/ Provi nce
Count r y Zi p/ Post al Code
Pri mary Phone Secondary Phone (optional)
Fax Website Address, if any
E-Mai l Address for Account Correspondence Confi rmat i on of E-Mai l Address

Mailing Address (if different from business address)
St reet Address
City St at e/ Provi nce
Count r y Zi p/ Post al Code
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Regulatory Information
Is the Proprietary Trading Group registered, licensed, or acting as any of the following, or would the Proprietary Trading Group be
considered any of the following if it were located in the US:
A forei gn bank
(A "foreign bank" is a bank that is organized under non-U. S. law and is located outside the U. S. Foreign banks include, but are not limited t o,
t he offi ces, branches, and agenci es of commerci al banks or t rust compani es, pri vat e banks, nat i onal banks, t hri ft i nst i t ut i ons, credi t uni ons
and ot her organi zat i ons chart ered under banki ng l aws and supervi sed by t he banki ng supervi sors of any st at e. )
A securi t i es broker or deal er
(Securi t i es brokers i ncl ude, but are not l i mi t ed t o, organi zat i ons t hat : are members of a securi t i es exchange, securi t i es market or cl eari ng
house; underwri t e securi t i es or ot herwi se hel p t o bri ng new i ssues t o market ; formal l y act as market makers ei t her on an exchange, t radi ng
syst em or ot herwi se; hol d t hemsel ves out as promot ing l i qui di t y t o t he market ; are l ooked t o as a source of l i qui di t y t o market professi onal s
or t o t he publ i c; or advert i se or ot herwi se l et ot hers know t hat t hey are i n t he busi ness of buyi ng and sel l i ng securi t i es)
A fut ures commi ssi on merchant (FCM) or fut ures broker
(Fut ures brokers i ncl ude, but are not l i mi t ed t o, organi zat i ons t hat sol i ci t or accept orders t o purchase or sel l fut ures or commodi t y opt i on
cont ract s or t hat accept money, securi t i es or propert y t o margi n, guarant ee or secure sol i ci t ed or accept ed fut ures t rades or cont act s. )
An i nt roduci ng or omni bus broker
A branch or office, located outside of the US, of: an SEC-registered broker dealer; an SEC-registered mutual fund; or a CFTC-registered
commodi t i es br oker
A mut ual fund, open-end i nvest ment company, hedge fund, pri vat e equi t y fund, vent ure capi t al fund, commodi t y pool , or any ot her t ype of
i nvest ment vehi cl e or fund
A money t r ansmi t t er
(Money t ransmi t t ers i ncl ude but are not l i mi t ed t o, organi zat i ons t hat are i n t he busi ness of accept i ng currency or funds denomi nat ed i n
currency and t ransmi t t i ng t he currency, funds or val ue t hereof t hrough a fi nanci al agency, fi nanci al i nst i t ut i on, t he Federal Reserve Bank or
an el ect roni c funds net work or are ot herwi se engaged i n t he busi ness of t ransferri ng funds. )
A currency deal er or exchanger
A bank
Yes No
Is t he Propri et ary Tradi ng Group a publ i cl y-hel d corporat i on t hat i s t raded on a regul at ed U. S. or forei gn st ock exchange?
If Yes,
Name of t he exchange on whi ch t he shares of t he Propri et ary Tradi ng Group are t raded:
The st ock symbol :
Yes No
Is t he Propri et ary Tradi ng Group regul at ed i n t he U. S. or i n any ot her count ry?
If Yes, please list up to three:
Regul at or Name Regul at or' s Count ry Regi st rat i on Capaci t y Regi st rat i on/ Li cense Number
Yes No
Is t he Propri et ary Tradi ng Group engaged i n t he brokerage busi ness (e. g. , i s t he Propri et ary Tradi ng Group regi st ered, aut hori zed
or operat i ng as a fut ures commi ssi on merchant , or securi t i es or fut ures brokerage fi rm i n t he US, UK, Canada or el sewhere)
If Yes, please provide details:
Yes No
Is t he Propri et ary Tradi ng Group, pursuant t o Nat i onal Fut ures Associ at i on By-l aw 1101, requi red t o be regi st ered wi t h U. S.
Commodi t y Tradi ng Commi ssi on or regi st ered wi t h t he IDA as a fut ures commi ssi on merchant , i nt roduci ng broker, commodi t y
pool operat or, commodi t y t radi ng a l everage t ransact i on merchant or i n any ot her count ry?
If Yes, please provide details:
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Yes No
Is t he Propri et ary Tradi ng Group a member of an exchange or a regul at ory or sel f-regul at ory organi zat ion or an associ at ed or
affi l i at ed person of an exchange member?
If Yes, Name of Exchange(s):
Name of Regulatory or Self Regulatory Organization(s):
Yes No
Has t he Propri et ary Tradi ng Group or any of i t s offi cers or aut hori zed t raders ever been t he subj ect of, or i ni t i at ed, l i t i gat i on,
arbi t rat i on or any ot her t ype of di sput e or set t l ement proceedi ng wi t h anot her broker or deal er?
If yes, pl ease provi de det ai l s, i ncl udi ng t he di sposi t i on of t he proceedi ng:
Yes No
Has t he Propri et ary Tradi ng Group or any of i t s offi cers or aut hori zed t raders ever been t he subj ect of an i nvest i gat i on or
proceedi ng by any commodi t i es or securi t i es exchange or any regul at ory or sel f-regul at ory aut hori t y?
If yes, pl ease provi de det ai l s, i ncl udi ng t he di sposi t i on of t he i nvest i gat i on or proceedi ng:
Yes No
Have any of t he pri nci pal s, offi cers or aut hori zed t raders of t he Propri et ary Tradi ng Group ever been arrest ed for, or convi ct ed
of, a crime?
Yes No
Does t he Propri et ary Tradi ng Group cont rol or own more t han 10% of t he shares of any publ i cl y-t raded company?
If yes, ent er st ock symbol (s) of t he compani es, separat ed by commas:
Yes No
Does t he Propri et ary Tradi ng Group or do any of i t s offi cers or aut hori zed t raders cont rol t he t radi ng i n, or have a benefi ci al
ownershi p i nt erest i n, any ot her Int eract i ve Brokers account s?
If yes, ent er t he IB user names of t hese account s, separat ed by commas:
Yes No
Is any offi cer or aut hori zed t rader of t he organi zat i on regi st ered as a broker or an empl oyee, di rect or or owner of a securi t i es or
commodi t i es brokerage fi rm?

Foreign Bank
Please answer the below questions only if you have selected "a bank" or "a foreign bank" above.
Is your fi rm operat i ng under a banki ng l i cense t hat has been i ssued by any of t he fol l owi ng count ri es:
Afghanistan, Angola, Belarus, Congo, Cote d' Ivoire, Cuba, Democratic Peoples Republic of Korea (North Korea), Democratic
Republic of the Congo, Iran (Islamic Republic of), Iraq, Liberia, Libyan Arab Jamahiriya, Macao Special Administrative Region
of China, Myanmar, Nauru, Nigeria, Sierra Leone, Sudan, Syrian Arab Republic, Uzbekistan, The former Yugoslav Republic of
Macedonia, or Zimbabwe.
Yes No
Is your fi rm operat i ng under an "offshore banki ng li cense"?
An "offshore banki ng l i cense" i s a l i cense t o conduct banki ng act i vi t i es t hat prohi bi t s t he l i censed ent i t y from conduct i ng
banki ng act i vi t i es wi t h t he ci t i zens of, or wi t h t he l ocal currency of, t he count ry whi ch i ssued t he li cense.
Yes No
The firm hereby certifies that it will immediately contact IB in writing via an email addressed to
newaccounts@interactivebrokers. com (Please put "Change in Foreign Bank Status" in the subject line) in the event that the firm
begi ns t o operat e under a banki ng l i cense t hat :
a. Is an "offshore banking license" (as defined above);
b. Has been i ssued by a forei gn count ry t hat has been desi gnat ed as an NCCT count ry by t he FATF; or
c. Has been i ssued by a forei gn count ry t hat has been desi gnat ed by t he Secret ary of t he U. S. Depart ment of t he Treasury
as warrant i ng speci al measures due t o money l aunderi ng concerns.
Yes No

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Name of Person Authorized to Complete Application and Sign Customer Agreements on behalf of the
Proprietary Trading Group
Name (First) (Middle Initial) (Last) Suffix (Optional)
Pl ease pi ck a securi t y quest i on from each of t he t hree l i st s bel ow and provi de t he answers t o t hose quest i ons so t hat we may use i t i n t he fut ure
for veri fi cat i on purposes:
What i s t he name of your homet own newspaper?
What i s t he name of t he Hi gh School you graduat ed from?
What i s t he mi ddl e name of your el dest chi l d?
What city were you born in?
What was t he name of your fi rst pet ?
What i s t he st reet number of t he house you grew up i n?
What i s your favori t e cart oon charact er?
What is your favorite color?
What i s your wi fe' s mi ddl e name?
What i s t he st reet name your work offi ce i s l ocat ed on?
Answer:
What i s t he name of your favori t e sport s t eam?
What i s t he l ast name of your favori t e pol i t i ci an?
In what ci t y were you marri ed?
In what ci t y or t own was your fi rst j ob?
What i s your favori t e pl ace t o shop?
Who was your chi l dhood hero?
What was your Hi gh School mascot ?
What was t he name of a best fri end duri ng chi l dhood?
What was t he fi rst concert you at t ended?
What i s your grandmot her' s fi rst name?
Answer:
What i s name of fi rst boyfri end/ gi rl fri end?
What i s t he name of a school you at t ended?
What is your favorite vegetable?
What is your shoe size (use decimals, if necessary)?
Who was your fi rst grade t eacher?
Where di d you go on your honeymoon?
What was your fat her' s occupat i on?
What was your chi l dhood ni ckname?
What was t he model of your fi rst car?
Where i s your favori t e vacat i on spot ?
Answer:

Controlling Officer Information
Name (First) (Middle Initial) (Last) Suffix (Optional)
NOTE: If the Proprietary Trading Group is a U. S. publicly-traded company or is registered with a U. S. financial regulatory
agency (SEC, CFTC, etc), you do NOT need to provide the following information.
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Title Pri mary Phone
Fax Secondary Phone (optional)
E-Mai l Address Confi rmat i on of E-Mai l Address
St reet Address (n o P. O. boxes or "in care of" addresses allowed)
City St at e/ Provi nce
Count r y Zi p/ Post al Code
Dat e of Bi rt h(mm/ dd/ yyyy) Count ry of Ci t i zenshi p
If you are a U.S. citizen, a U.S. resident or have a U.S Social Security
Number, you must provi de a Soci al Securi t y Number:
If you are n o t a U. S. resident, please check which form of identi fication
you will provide to Interactive Brokers (you must provide a copy of o n e
of the following):
Driver' s License
Alien Identification Card
Passpor t
Nat i onal Ident i t y Card
Count ry of Issuance:
Number :

Page 8 I B L L C Ac c o u n t Ap p lic a t io n f o r F in a n c ia l Ad v is o r Clie n t s ( Pr o p r ie t a r y T r a d in g G r o u p s ) - Se p 2 2 2 0 0 9
NOTE: If the Proprietary Trading Group is a U. S. publicly-traded company or is registered with a U. S. financial regulatory
agency (SEC, CFTC, etc), you do NOT need to provide the following information.
Owner Information
Pl ease l i st any i ndi vi dual or ent i t y t hat owns a 20% or great er share i n t he Propri et ary Tradi ng Group.
First 20% or Greater Shareholder
(individual or entity)
Second 20% or Greater Shareholder
(individual or entity)
Owner' s Name Owner' s Name
Percent age of Ownershi p Percent age of Ownershi p
Date of Birth (mm/dd/yyyy) (if an individual) Date of Birth (mm/dd/yyyy) (if an individual)
St reet Address St reet Address
City City
St at e/ Provi nce St at e/ Provi nce
Count r y Count r y
Zi p/ Post al Code Zi p/ Post al Code
Primary Phone (with area code) Primary Phone (with area code)
Secondary Phone (optional) Secondary Phone (optional)
Fax No. (with area code) Fax No. (with area code)
Country of Citizenship or Formation (if entity) Country of Citizenship or Formation (if entity)
If shareholder is an individual and is a U. S. citizen, a U. S. resident or
has a U.S Social Security Number, provide owner' s Social Security
Number :
If shareholder is an individual and is a U. S. citizen, a U. S. resident or
has a U.S Social Security Number, provide owner' s Social Security
Number :
If sharehol der i s an i ndi vi dual and i s n o t a U. S. resident, please check
whi ch form of i dent i fi cat i on owner uses:
Driver' s License
Alien Identification Card
Passpor t
Nat i onal Ident i t y Card
If sharehol der i s an i ndi vi dual and i s n o t a U. S. resident, please check
whi ch form of i dent i fi cat i on owner uses:
Driver' s License
Alien Identification Card
Passpor t
Nat i onal Ident i t y Card
Page 9 I B L L C Ac c o u n t Ap p lic a t io n f o r F in a n c ia l Ad v is o r Clie n t s ( Pr o p r ie t a r y T r a d in g G r o u p s ) - Se p 2 2 2 0 0 9
First 20% or Greater Shareholder
(individual or entity)
Second 20% or Greater Shareholder
(individual or entity)
Count ry of Issuance:
Number :
Count ry of Issuance:
Number :
Tax ID No. (if shareholder is an entity):
Count ry of Issuance:
Tax ID No. (if shareholder is an entity):
Count ry of Issuance:

Third 20% or Greater Shareholder
(individual or entity)
Fourth 20% or Greater Shareholder
(individual or entity)
Owner' s Name Owner' s Name
Percent age of Ownershi p Percent age of Ownershi p
Date of Birth (mm/dd/yyyy) (if an individual) Date of Birth (mm/dd/yyyy) (if an individual)
St reet Address St reet Address
City City
St at e/ Provi nce St at e/ Provi nce
Count r y Count r y
Zi p/ Post al Code Zi p/ Post al Code
Primary Phone (with area code) Primary Phone (with area code)
Secondary Phone (optional) Secondary Phone (optional)
Fax No. (with area code) Fax No. (with area code)
Country of Citizenship or Formation (if entity) Country of Citizenship or Formation (if entity)
Page 10 I B L L C Ac c o u n t Ap p lic a t io n f o r F in a n c ia l Ad v is o r Clie n t s ( Pr o p r ie t a r y T r a d in g G r o u p s ) - Se p 2 2 2 0 0 9
Third 20% or Greater Shareholder
(individual or entity)
Fourth 20% or Greater Shareholder
(individual or entity)
If shareholder is an individual and is a U. S. citizen, a U. S. resident or
has a U.S Social Security Number, provide owner' s Social Security
Number :
If shareholder is an individual and is a U. S. citizen, a U. S. resident or
has a U.S Social Security Number, provide owner' s Social Security
Number :
If sharehol der i s an i ndi vi dual and i s n o t a U. S. resident, please check
whi ch form of i dent i fi cat i on owner uses:
Driver' s License
Alien Identification Card
Passpor t
Nat i onal Ident i t y Card
Count ry of Issuance:
Number :
If sharehol der i s an i ndi vi dual and i s n o t a U. S. resident, please check
whi ch form of i dent i fi cat i on owner uses:
Driver' s License
Alien Identification Card
Passpor t
Nat i onal Ident i t y Card
Count ry of Issuance:
Number :
Tax ID No. (if shareholder is an entity):
Count ry of Issuance:
Tax ID No. (if shareholder is an entity):
Count ry of Issuance:

Fifth 20% or Greater Shareholder
(individual or entity)

Owner' s Name
Percent age of Ownershi p
Date of Birth (mm/dd/yyyy) (if an individual)
St reet Address
City
St at e/ Provi nce
Count r y
Zi p/ Post al Code
Pa g e 11 I B L L C Ac c o u n t Ap p lic a t io n f o r F in a n c ia l Ad v is o r Clie n t s ( Pr o p r ie t a r y T r a d in g G r o u p s ) - Se p 2 2 2 0 0 9
Fifth 20% or Greater Shareholder
(individual or entity)

Primary Phone (with area code)
Secondary Phone (optional)
Fax No. (with area code)
Country of Citizenship or Formation (if entity)
If shareholder is an individual and is a U. S. citizen, a U. S. resident or
has a U.S Social Security Number, provide owner' s Social Security
Number :
If sharehol der i s an i ndi vi dual and i s n o t a U. S. resident, please check
whi ch form of i dent i fi cat i on owner uses:
Driver' s License
Alien Identification Card
Passpor t
Nat i onal Ident i t y Card
Count ry of Issuance:
Number :
Tax ID No. (if shareholder is an entity):
Count ry of Issuance:

Pa g e 12 I B L L C Ac c o u n t Ap p lic a t io n f o r F in a n c ia l Ad v is o r Clie n t s ( Pr o p r ie t a r y T r a d in g G r o u p s ) - Se p 2 2 2 0 0 9
Account Financial Background
Invest ment Obj ect i ves and Int ended Purpose of Trading (check al l t hat appl y).
NOTE: To be approved for opt i on or margi n t radi ng, you must sel ect "Specul at i on" or "Tradi ng Profi t s" as one of your i nvest ment obj ect i ves.
Preservat i on of Capi t al I ncome Gr owt h Tradi ng Profi t s Specul at i on Hedgi ng
Investment Experience (please fill in all blanks)

Years Trading Experience Number of Trades Per Year
Knowledge Level
(check one for each product t ype)
St ocks
Extensive Good Li mi t ed
Bonds
Extensive Good Li mi t ed
Opt i ons
Extensive Good Li mi t ed
Fut ur es
Extensive Good Li mi t ed
Forex
Extensive Good Li mi t ed
Estimated Net Worth (in base currency,
exclude value of residence)
Estimated Liquid Net Worth (in base currency,
excl ude resi dence)
Annual Net Income (in base currency) Total Assets (in base currency)

Accredited Investor Qualification Information
Pl ease answer t he quest i ons bel ow onl y i f your Est imat ed Net Wort h i s equal t o or great er t han $5, 000, 000. 00.
Is your Propri et ary Tradi ng Group a broker or deal er regi st ered pursuant t o sect i on 15 of t he Securi t ies Exchange Act of 1934?
Yes No
Is your Propri et ary Tradi ng Group a corporat i on, a part nershi p, a l i mi t ed l i abi l i t y company, a Massachuset t s or si mi l ar busi ness
t rust , or an organi zat i on descri bed i n Sect i on 501(c)(3) of t he Int ernal Revenue Code, i n each case not formed for t he speci fi c
purpose of acqui ri ng t he securi t i es offered, wi t h t ot al asset s i n excess of $5, 000, 000?
Yes No
Is your Propri et ary Tradi ng Group a t rust , i n each case, not formed for t he speci fi c purpose of acqui ri ng cert ai n debt and equi t y
securi t i es bei ng offered, wi t h t ot al asset s i n excess of $5, 000, 000, whose purchase of securi t i es i s di rect ed by a sophi st i cat ed
person wi t h such knowl edge and experi ence i n fi nanci al and busi ness mat t ers t hat such person i s capable of eval uat i ng t he
meri t s and ri sks of any prospect i ve i nvest ment ?
Yes No
Is your Proprietary Trading Group a bank as defined in section 3(a)(2) of the Securities Act of 1933 ("Act"), a savings and loan
association or other institution as defined in section 3(a)(5)(A) of the Act whether acting in its individual or fiduciary capacity?
Yes No
I confi rm under penal t i es of l aw t hat t he foregoi ng answers are t rue and correct . I agree t hat i f I am grant ed access t o IB' s Pri vat e
Pl acement Si t e, I shal l keep confi dent i al and not provi de t o any ot her person or ent i t y, any i nformat i on made avai l abl e t o me on
the IB Private Placement Site.
Yes No

Pa g e 1 3 I B L L C Ac c o u n t Ap p lic a t io n f o r F in a n c ia l Ad v is o r Clie n t s ( Pr o p r ie t a r y T r a d in g G r o u p s ) - Se p 2 2 2 0 0 9
II. Account Configuration
Please select only o n e of the following:
The Proprietary Trading Group is an operati ng busi ness and was not formed primarily for the purpose of trading or holding
fi nanci al assets.
If you checked the above box, please provide the following:
Busi ness Descri pti on (Please be specific. We cannot accept "general business", "general consulting", etc...):
The Proprietary Trading Group is a personal or fami l y i nvestment vehi cl e. The Proprietary Trading Group is beneficially owned by a
si ngl e person or cl ose fami l y members and i s organi zed for t he purpose of maki ng fi nanci al i nvest ment s for t he owner and/ or t he
owner' s close family.
If you checked the above box, please provide the following:
Name of pri mary cont ri but or/ owner of t he personal / f ami l y
i nvest ment vehi cl e:
Occupation (please be specific):
Employer:
Empl oyer' s Address:
Source of funds invested in the vehicle (please be specific):
Name of Admi ni st rat or or Corporat e Servi ces Provi der for personal / fami l y i nvest ment vehi cl e (i f any):
Address of Administrator (if any):
Cont act person at Admi ni st rat or (i f any): Phone Number of contact (if any):
The Proprietary Trading Group is a cl osel y-hel d propri etary tradi ng company (or corporation or similar vehicle). The Propri et ary
Tradi ng Group i s benefi ci al l y owned by a smal l group of peopl e and i s organi zed for t he purpose of propri et ary t radi ng.
If you checked the above box, please provide the following:
Do any of t he owners/ i nvest ors of t he Propri et ary Tradi ng Group resi de i n t he U. S. ?
Yes No
Does t he Propri et ary Tradi ng Group sol i ci t owners/ i nvest ors who resi de i n t he U. S. ?
Yes No
Woul d t he Propri et ary Tradi ng Group accept owners/ invest ors who resi de i n t he U. S. ?
Yes No
The Proprietary Trading Group is a financial institution (bank, broker-dealer, etc) that will be trading for its own account and the
account does not contai n funds of customers or i nvestors.
If you checked the above box, please provide the following:
By checki ng t hi s box, appl i cant confi rms and cert i fi es t hat t he Propri et ary Tradi ng Group' s account
will n o t cont ai n cust omer or i nvest or funds.
Confi rmed Not
Conf i r med
Choose a Base Currency for the Account:
United States Dollar USD
Australian Dollar AUD
British Pound GBP
Canadian Dollar CAD
Euro EUR
Hong Kong Dollar HKD
Japanese Yen JPY
Mexican Peso MXN
Swedish Krona SEK
Swiss Frank CHF


Pa g e 1 4 I B L L C Ac c o u n t Ap p lic a t io n f o r F in a n c ia l Ad v is o r Clie n t s ( Pr o p r ie t a r y T r a d in g G r o u p s ) - Se p 2 2 2 0 0 9
Choose Cash or Margin Account (choose one)
Cas h
Must have enough cash i n t he account t o cover t he cost of t he t ransact i on pl us commi ssi ons. No short i ng of st ock or fut ures day t radi ng
benefi t s (50% of regul ar margi n requi rement duri ng t he day on cert ai n exchanges). Li mi t ed purchase and sal e of opt i ons and t radi ng i s onl y
al l owed for product s denomi nat ed i n t he base currency of t he account . Cash from t he sal e of st ocks, opt i ons and fut ures becomes avai l abl e
when t he t ransact i on set t l es (e. g. US st ock - 3 days, German st ocks- 2 days, US opt i ons- 1 day).
Portfolio Margin
Same as a Reg T margi n account (see bel ow) except t hat margi n requi rement s general l y wi l l be l ower i n a port fol i o margi n account because
margi n requi rement s wi l l be cal cul at ed based on a r i sk based cal cul at i on met hodol ogy. Customers must mai ntai n account equi ty of
$100, 000 in order to utilize a portfolio margin account. Otherwise Reg T margin requirements will appl y.
Reg T Margin
Borrowi ng t o support equi t i es t radi ng, short i ng of equi t i es, ful l opt i ons t radi ng, ful l fut ures/ fut ures opt i ons t radi ng, currency conversi ons,
and securi t i es/ commodi t i es t radi ng i n mul t i pl e currency denomi nat i ons avai l abl e. Margi n requi rement s are comput ed real -t i me under a
rul es-based cal cul at i on met hodol ogy, wi t h i mmedi at e posi t i on l i qui dat i on i f t he mi ni mum mai nt enance margi n requi rement i s not met .
Purchase and sal e proceeds are i mmedi at el y recogni zed.
Pa g e 15 I B L L C Ac c o u n t Ap p lic a t io n f o r F in a n c ia l Ad v is o r Clie n t s ( Pr o p r ie t a r y T r a d in g G r o u p s ) - Se p 2 2 2 0 0 9
Account Tradi ng Permi ssi ons
Please check al l t he pr oduct s t hat you may want t o t r ade i n your account . You a nd your advi sor al so will have t he ability
t o a d d a d d i t i o n al pr oduct s af t er your account ha s been opened.
St ocks Fixed Income War r ant s
Opt i ons
(Stock &
Index)
Fut ur es
Fut ur es
Opt i ons
Single Stock
Fut ur es
FOREX
( Foreign
E xchange)
Global
Aust ral i a
Aust r i a
Belgium
Canada
France
Ger many
Hong Kong
Italy
J apan
Korea
Mexico
Si ngapore
Spai n
Sweden
Swi t zerl and
The Net her l ands
Uni t ed Ki ngdom
Uni t ed St at es
Uni t ed St at es
(Algorithmic
Execution Venue)
Uni t ed St at es
(Floor Based
Exchanges)

Please not e t hat SEC rest ri ct i ons pr event U.S. legal r esi dent s f r om t r adi ng OPTIONS on st ock a nd i ndexes i n No n - U.S.
count ri es.
Noti ce Regarding Ant i -Money Laundering and Customer Identification Procedures: To hel p t he U.S. gover nment f i ght
t he f undi ng of t er r or i sm a nd money l aunder i ng activities, Federal l aw r equi r es all financial i nst i t ut i ons t o obt ai n, verify,
a nd r ecor d i nf or mat i on t hat i dent i fi es each per s on or ent i t y who opens a n account . We ar e r equi r ed by l aw t o as k you t o
pr ovi de your name, addr ess, dat e of bi r t h a nd ot her i nf or mat i on about you, your or gani zat i on or per s ons r el at ed t o your
or gani zat i on t hat will allow u s t o i dent i fy you bef or e we appr ove your account . We al so will as k you t o pr ovi de cer t ai n
i dent i fyi ng document s, s uch a s your dri ver' s l i cense or pas s por t or your or gani zat i on' s art i cl es of i ncor por at i on a nd ma y
obt ai n credi t a nd ot her cons umer r epor t s t o assi st u s i n verifying your i dent i t y a nd i n det er mi ni ng whet her you sat i sfy o u r
account criteria. Unl ess you pr ovi de t he r equest ed i nf or mat i on a nd document at i on, we may not be abl e t o open your
account . By appl yi ng f or a n IB account , you agr ee t o pr ovi de accur at e a nd t r ut hf ul i nf or mat i on a s r equest ed by IB a nd you
consent t o IB's acqui si t i on of credi t a nd ot her cons umer r epor t s about you f or t he pur pos es descr i bed above.


Pa g e 16 I B L L C Ac c o u n t Ap p lic a t io n f o r F in a n c ia l Ad v is o r Clie n t s ( Pr o p r ie t a r y T r a d in g G r o u p s ) - Se p 2 2 2 0 0 9
III.a ADVISOR FEE ARRANGEMENT Choose o n e of the fol l owi ng advi sor fee bi l l i ng methods:
No Fee
No fees are charged by your advi sor for managi ng your account .
Direct Billing
You advisor bills you directly for fees and you pay your advisor directly (IB does not deduct the fees from your account).
Automatic Billing
Int eract i ve Brokers cal cul at es Advi sor Fees and deduct s t hese fees from your cl i ent account aut omat i cal l y and sends t hem t o your advi sor as
speci fi ed.
Check al l t hat appl y and fi l l -i n t he requi red amount s:
Annual i zed Percent age of Net Li qui dat i on Val ue appli ed on a dai l y basi s (ent er annual percent age) %
Annual i zed Fl at Fee appl i ed on a dai l y basi s, apport i oned by 252 days (ent er annual amount )
Percentage of Annual Positive P&L applied as of 12/31(enter annual percentage) %
Percentage of Quarterly Positive P&L applied as of March, June, Sept. , Dec. (enter quarterly percentage) %
Monthl y/ Quarterl y Invoi ci ng
Your advi sor cal cul at es t he Advi sor Wrap Fees and removes t he fees from your account up t o a l i mi t of per mont h/ or
per quar t er .
Per-Trade Unit Advisory Fee (For non-US customers with non-US advisors only).If thi s method i s chosen, you must compl ete the fee
schedul e bel ow.


III.b FEE PER TRADE UNIT
Pl ease acknowl edge t he change i n fees charged by your advi sor and send back t o IB at t he address above.
Any asset cl ass/ currency for whi ch a fee per t rade uni t i s not speci fi ed wi l l use t he IB st andard commi ssi on schedul e as i t s defaul t , i n whi ch case
t he advi sor wi l l not make any fee over and above t he fee IB charges t he advi sor' s cl i ent t o execut e and cl ear t rades. A fee per t rade uni t may be
ent ered as an absol ut e markup over and above IB' s st andard commi ssi on, as a % of IB' s st andard commi ssi on, or as an absol ut e amount (IB' s
st andard commi ssi on wi l l be subt ract ed from t hi s amount ).
Absol ut e markup i s ent ered i n t he currency of t he asset cl ass. The uni t col umn i ndi cat es i f t he absol ut e markup get s appl i ed t o shares, cont ract s,
or % of not i onal val ue and up t o t hree deci mal pl aces may be ent ered. As an exampl e, when you ent er "1" Absol ut e Markup on t he USD opt i on
l i ne, and i f one IB Smart opt i on cont ract were execut ed, t he cl i ent woul d be charged $2 ($1 i s t he st andard IB commi ssi on, and $1 i s speci fi ed as
an absol ut e markup).
The % markup is entered as a percentage without the decimal point. As an example, if you enter "100" percent markup on the EUR stock line, if IB
charges 10 EUR for a trade the client will be charged a total of 20 EUR for the trade (10 EUR for IB with a 100% match).
The absol ut e amount requi res t he i nput of a mi ni mum for t he t rade, and t hen 1 t o 3 fees (Fee#1, Fee#2, Fee#3) t hat are speci fi ed by vol ume
breaks (Vol #1, Vol #2). The uni t col umn i ndi cat es i f t he absol ut e markup get s appl i ed t o shares, cont ract s, or % of not i onal val ue and up t o t hree
decimal places may be entered. As an example, if you wanted to charge . 4% for up to 500 shares, . 3% for up to 1, 000 shares, and . 2% above 1, 000
shares wi t h a mi ni mum of 10 GBP (mi ni mums are al ways ent ered amount s) for GBP st ocks, you woul d ent er:
Mi ni mum Fee #1 Vol #1 Fee #2 Vol #2 Fee #3
1 0 0. 1 5 0 0 0. 3 1, 000 0. 2
IB standard UK fees of . 1%, and stamp tax of . 5% would be subtracted from the absolute fee specified above. Only 1 fee type (i. e. absolute markup,
% markup, or absol ut e amount ) may be ent ered for each asset cl ass/ currency. It shoul d be not ed t hat i n no case may you ent er more t han 7 t i mes
IB' s st andard commi ssi on.
Advisor Fee Cap
IB caps t he amount of advi sor fees earned i n any 360 day peri od t o 25% of t he cl i ent ' s average equi t y over t hi s peri od, wi t h addi t i onal cap l i mi t s
at 30 day increments in-between (i. e. 7. 2% over the last 30 days, 17. 7% over the last 180 days). When any fee cap is exceeded for a client, the
advi sor wi l l not recei ve any cl i ent fees unt i l t he fee cap i s no l onger exceeded. IB wi l l cont i nue t o charge i t s st andard commi ssi ons when t he fee
cap l i mi t i s exceeded. Pl ease be aware t hat advi sors are sol el y responsi bl e for ensuri ng t hat t he fees t hey charge are reasonabl e and i n accordance
wi t h regul at ory requi rement s. For a compl et e fee cap, vi si t ht t p: / / www. i nt er act i vebr oker s. com/ en/ account s/ advi sor s/
advi sorWrapFees. php?i b_ent i t y=l l c.
Pa g e 17 I B L L C Ac c o u n t Ap p lic a t io n f o r F in a n c ia l Ad v is o r Clie n t s ( Pr o p r ie t a r y T r a d in g G r o u p s ) - Se p 2 2 2 0 0 9
1.5

Cur r ency Uni t Mi ni mum Fee
Absol ut e
Mar kup
% Markup
Absol ut e Amount
Fee #1 Vol #1 Fee #2 Vol #2 Fee #3
Pass
t hr ough
Fees*
St ocks
USD Shar es
EUR %
CHF %
GBP %
CAD Shar es
SEK %
JPY %
HKD %
EUR
EUR
EUR
AUD %
MXN %

Warrants
EUR %
HKD %

Stock & Index Options
USD Cont r act s
EUR Cont r act s
HKD Cont r act s
Pa g e 18 I B L L C Ac c o u n t Ap p lic a t io n f o r F in a n c ia l Ad v is o r Clie n t s ( Pr o p r ie t a r y T r a d in g G r o u p s ) - Se p 2 2 2 0 0 9
15.0 - - 0.075 1000 0.06 5000 0.04
20.0 - - 1.0 5000 0.5 10000 0.35
30.0 - - 1.0 5000 0.5 10000 0.35
15.0 - - 1.0 5000 0.5 10000 0.35
15.0 - - 0.075 1000 0.05 5000 0.04
175.0 - - 1.0 5000 0.5 10000 0.35
2500.0 - - 1.0 5000 0.5 10000 0.35
200.0 - - 1.0 5000 0.5 10000 0.35
30.0 - - 1.0 5000 0.5 10000 0.35
150.0 - - 1.0 5000 0.5 10000 0.35
20.0 - - 1.0 5000 0.5 10000 0.35
200.0 - - 1.0 5000 0.5 10000 0.35
7.5 - - 7.5 10 5.0 20 3.0
7.5 - - 7.5 10 5.0 20 4.0
200.0 - - 200.0 10.0 150.0 20.0 100.0
Cur r ency Uni t Mi ni mum Fee
Absol ut e
Mar kup
% Markup
Absol ut e Amount
Fee #1 Vol #1 Fee #2 Vol #2 Fee #3
Pass
t hr ough
Fees*
CHF Cont r act s
GBP Cont r act s
CAD Cont r act s
JPY Cont r act s
KRW %
SEK Cont r act s
AUD Cont r act s

Futures, Futures Options, SSFs
USD Cont r act s
AUD Cont r act s
EUR Cont r act s
HKD Cont r act s
CHF Cont r act s
GBP Cont r act s
CAD Cont r act s
JPY Cont r act s
KRW Cont r act s
USD
USD
USD
USD
Pa g e 19 I B L L C Ac c o u n t Ap p lic a t io n f o r F in a n c ia l Ad v is o r Clie n t s ( Pr o p r ie t a r y T r a d in g G r o u p s ) - Se p 2 2 2 0 0 9
30.0 - - 30.0 10 20.0 20 15.0
15.0 - - 10.0 10 7.0 20 5.0
7.5 - - 7.5 10 5.0 20 3.0
2500.0 - - 2500.0 10 2250.0 20 1500.0
10000.0 - - 1.0 10 0.8 20 0.75
150.0 - - 150.0 10 100.0 20 60.0
30.0 - - 15.0 5 10.0 10 7.5
15.0 - - 15.0 5 12.0 10 8.0
20.0 - - 20.0 5 15.0 10 10.0
15.0 - - 15.0 5 12.0 10 8.0
169.0 - - 169.0 5 150.0 10 89.0
20.0 - - 20.0 5 15.0 10 12.5
15.0 - - 15.0 5 12.5 10 9.0
15.0 - - 15.0 5 12.0 10 8.0
1500.0 - - 1500.0 5 1250.0 10 900.0
2500.0 - - 2500.0 5 2000.0 10 1500.0
Cur r ency Uni t Mi ni mum Fee
Absol ut e
Mar kup
% Markup
Absol ut e Amount
Fee #1 Vol #1 Fee #2 Vol #2 Fee #3
Pass
t hr ough
Fees*
USD
SEK Cont r act s
MXN Cont r act s

Forex
AUD %
CAD %
CHF %
EUR %
GBP %
HKD %
JPY %
USD %
NZD
NOK

Bonds
USD
$1000 Face
Value
*
Pass t hrough exchange and regul at ory fees appl i es to Absol ut e Amount onl y.

Signature of Account Holder
Second Signature (required only for joint and other accounts
where mul ti pl e si gnatures needed)
Dat e Dat e

Pa g e 20 I B L L C Ac c o u n t Ap p lic a t io n f o r F in a n c ia l Ad v is o r Clie n t s ( Pr o p r ie t a r y T r a d in g G r o u p s ) - Se p 2 2 2 0 0 9
60.0 - - 60.0 5 50.0 10 45.0
150.0 - - 150.0 5 90.0 10 60.0
30.0 - - 0.05 300000 0.025 500000 0.015
30.0 - - 0.05 300000 0.025 500000 0.015
30.0 - - 0.05 300000 0.025 500000 0.015
20.0 - - 0.05 200000 0.025 400000 0.015
15.0 - - 0.05 100000 0.025 200000 0.015
200.0 - - 0.05 500000 0.025 1000000 0.015
2000.0 - - 0.05 5000000 0.025 9000000 0.015
15.0 - - 0.05 150000 0.025 300000 0.015
30.0 - - 0.05 250000 0.025 500000 0.015
100.0 - - 0.05 250000 0.025 500000 0.015
25.0 - 1000 - - - - -
IV. AGREEMENTS AND ACKNOWLEDGEMENTS

Interactive Brokers Customer Agreement
The Int eract i ve Brokers Cust omer Agreement governs t he rel at i onshi p bet ween Cust omer and Int eract i ve Brokers and set s fort h t he t erms and
condi t i ons governi ng Cust omer' s IB account . The Cust omer Agreement has been provi ded separat el y t o Cust omer as part of a package of
document s l abel ed: Int eract i ve Brokers LLC Agreement s and Di scl osure Document s.
Cust omer must read t he IB Cust omer Agreement i n i t s ent i ret y. Bel ow are cert ai n essent i al t erms of t he Agreement t hat Cust omer must
under s t and:
A. Cust omer i s obl i gat ed t o accept all execut i ons t hat ar e consi st ent wi t h t he i nst r uct i ons cont ai ned i n Cust omer ' s or der s.
B. IB's s ys t ems ar e c omput e r -bas ed a nd any c omput e r -bas ed s ys t em may fail at one t i me or anot her , of t en by r eason of f or ces beyond h u ma n
cont rol . IB i s not liable f or s ys t em or net wor k failures, a nd Cust omer s who r equi r e t he hi ghest level of reliability agr ee t o mai nt ai n al t er nat e
t r adi ng facilities.
C. Cust omer s ar e r esponsi bl e f or pr ot ect i ng t he secrecy of t hei r us er names a nd passwor ds, a nd t hey will be r esponsi bl e f or t r ades ent er ed b y
t hi r d par t i es usi ng t hei r us er names a nd passwor ds.
D. In t he event t r ades ar e conf i r med by IB a s execut ed, a nd t hey ar e l at er cancel l ed by a n exchange, t r adi ng net wor k or regul at ory aut hori t y, t h e
IB conf i r med t r ade will al so be deemed cancel l ed.
E. IB s ubmi t s all or der s f or execut i on i n t he or der i n whi ch i t recei ves t hem, i ncl udi ng all or der s s ubmi t t ed by IB or i t s affiliates.
F. IB i s not r esponsi bl e f or t he execut i on of or der s at l i mi t pr i ces if t he or der ' s t r ansmi ssi on i s del ayed or i s ot her wi se affect ed by d a t a
communi cat i on failure.
G. IB does not pr ovi de t radi ng, i nvest ment or t ax advice, a nd Cust omer s shal l not rely on s t at ement s by IB empl oyees whi ch pur por t t o pr ovi de
s uch advice.
H. IB does not make mar gi n calls, a nd IB mai nt ai ns t he r i ght t o i mmedi at el y cl ose out posi t i ons, wi t hout not i ce or liability, i n any account t h a t
does not have suffi ci ent f unds t o meet t he mar gi n r equi r ement s i mpos ed by IB or regul at ory aut hori t i es.
I. IB cus t omer s ar e r esponsi bl e t o IB f or t he cont i nued accuracy a nd updat i ng of all i nf or mat i on pr ovi ded t o IB.
Commodity Futures Trading Commission Risk Disclosure Statement
Int eract i ve Brokers provi des you t he fol l owi ng di scl osure document i n t he event t hat you and your advi sor choose t o t rade fut ures or opt i ons on
fut ures i n your Int eract i ve Brokers account . Pl ease read and si gn t he fol l owi ng document .
Risk Disclosure Statement for Futures and Options
Thi s bri ef st at ement does not di scl ose al l of t he ri sks and ot her si gni fi cant aspect s of t radi ng i n fut ures and opt i ons. In l i ght of t he ri sks, you
shoul d undert ake such t ransact i ons onl y i f you underst and t he nat ure of t he cont ract s (and cont ract ual rel at i onshi ps) i nt o whi ch you are
ent eri ng and t he ext ent of your exposure t o ri sk. Tradi ng i n fut ures and opt i ons i s not sui t abl e for many members of t he publ i c. You shoul d
careful l y consi der whet her t radi ng i s appropri at e for you i n l i ght of your experi ence, obj ect i ves, fi nanci al resources and ot her rel evant
ci rcumst ances.
Futures
A. Effect of "Leverage" or "Gearing"
Tr ansact i ons i n f ut ur es carry a hi gh degr ee of ri sk. The a mount of initial mar gi n i s smal l relative t o t he val ue of t he f ut ur es cont r act s o t h a t
t r ansact i ons ar e ` l ever aged' or ` gear ed' . A relatively smal l mar ket movement will have a pr opor t i onat el y l arger i mpact on t he f unds you have
deposi t ed or will have t o deposi t : t hi s may wor k agai nst you a s well a s f or you. You may sust ai n a t ot al l oss of initial mar gi n f unds a nd a ny
addi t i onal f unds deposi t ed wi t h t he f i r m t o mai nt ai n your posi t i on. If t he mar ket moves agai nst your posi t i on or mar ket levels ar e i ncreased,
you may be cal l ed upon t o pay subst ant i al addi t i onal f unds on s hor t not i ce t o mai nt ai n your posi t i on. If you fail t o compl y wi t h a r equest f or
addi t i onal f unds wi t hi n t he t i me prescri bed, your posi t i on may be l i qui dat ed at a l oss a nd you will be liable f or any resul t i ng deficit.
B. Ri s k-reduci ng orders or strategi es
The pl aci ng of cert ai n or der s (e.g. ` s t o p -l oss' or der s, wher e per mi t t ed under local law, or ` s t o p -limit' orders) whi ch ar e i nt ended t o l i mi t
l osses t o cert ai n a mount may not be effective because mar ket condi t i ons may make i t i mpossi bl e t o execut e s uch or der s. Strat egi es us i ng
combi nat i ons of posi t i ons, s uch a s ` s pr e a d' a nd ` s t r addl e' posi t i ons may be a s ri sky a s t aki ng si mpl e ` l ong' or ` s hor t ' posi t i ons.
Opti ons
C. Variable degree of ri sk
Tr ansact i ons i n opt i ons carry a hi gh degr ee of ri sk. Pur chaser s a nd sel l ers of opt i ons s houl d fami l i ari ze t hemsel ves wi t h t he t ype of opt i on
(i.e. put or call) whi ch t hey cont empl at e t r adi ng a nd t he associ at ed ri sks. You s houl d cal cul at e t he ext ent t o whi ch t he val ue of t he opt i ons
mus t i ncrease f or your posi t i on t o become profi t abl e, t aki ng i nt o account t he pr emi um a nd all t r ansact i on cost s.
The pur chaser of opt i ons may of f set or exerci se t he opt i ons or allow t he opt i ons t o expire. The exerci se of a n opt i on r esul t s ei t her i n a c a s h
set t l ement or i n t he pur chaser acqui ri ng or delivering t he underl yi ng i nt erest . If t he opt i on i s on a f ut ur e, t he pur chaser will acqui re a f ut ur es
posi t i on wi t h associ at ed liabilities f or mar gi n (see t he sect i on on Fut ur es above). If t he pur chas ed opt i ons expi re wort hl ess, you will suf f er a
t ot al l oss of your i nvest ment whi ch will consi st of t he opt i on pr emi um pl us t r ansact i on cost s. If you ar e cont empl at i ng pur chasi ng d e e p -
o u t -o f -t h e -money opt i ons, you s houl d be awar e t hat t he chance of s uch opt i ons becomi ng profi t abl e ordi nari l y i s r emot e.
Selling (`wri t i ng' or ` gr ant i ng' ) a n opt i on general l y ent ai l s consi derabl y gr eat er r i sk t han pur chasi ng opt i ons. Al t hough t he pr emi um recei ved
Pa g e 21 I B L L C Ac c o u n t Ap p lic a t io n f o r F in a n c ia l Ad v is o r Clie n t s ( Pr o p r ie t a r y T r a d in g G r o u p s ) - Se p 2 2 2 0 0 9
by t he sel l er i s fixed, t he sel l er may sust ai n a l oss well i n excess of t hat amount . The sel l er will be liable f or addi t i onal mar gi n t o mai nt ai n t h e
posi t i on if t he mar ket moves unfavorabl y. The sel l er will al so be exposed t o t he r i sk of t he pur chaser exercising t he opt i on a nd t he sel l er will
be obl i gat ed t o ei t her set t l e t he opt i on i n cash or t o acqui re or deliver t he underl yi ng i nt erest . If t he opt i on i s on a f ut ur e, t he sel l er will
acqui re a posi t i on i n a f ut ur e wi t h associ at ed liabilities f or mar gi n (see t he sect i on on Fut ur es above). If t he opt i on i s ` cover ed' by t he sel l er
hol di ng a cor r espondi ng posi t i on i n t he underl yi ng i nt er est or a f ut ur e or anot her opt i on, t he r i sk may be r educed. If t he opt i on i s n o t
covered, t he r i sk of l oss can be unl i mi t ed.
Cert ai n exchanges i n s ome j uri sdi ct i ons per mi t def er r ed payment of t he opt i on pr emi um, exposi ng t he pur chaser t o liability f or mar gi n
payment s not exceedi ng t he a mount of t he pr emi um. The pur chaser i s still subj ect t o t he r i sk of l osi ng t he pr emi um a nd t r ansact i on cost s.
When t he opt i on i s exerci sed expi res, t he pur chaser i s r esponsi bl e f or any unpai d pr emi um out st andi ng at t hat t i me.
Additional ri sks common t o futures and opti ons.
D. Terms and condi ti ons of contracts
You s houl d as k t he f i r m wi t h whi ch you deal about t he t er ms a nd condi t i ons of t he specific f ut ur es or opt i ons whi ch you ar e t r adi ng a n d
associ at ed obl i gat i ons (e.g. t he ci r cumst ances under whi ch you may become obl i gat ed t o make or t ake delivery of t he underl yi ng i nt er est of a
f ut ur es cont r act and, i n r espect of opt i ons, expi rat i on dat es a nd rest ri ct i ons on t he t i me f or exercise). Under cert ai n ci r cumst ances t h e
speci fi cat i ons of out st andi ng cont r act s (including t he exerci se pri ce of a n opt i on) may be modi f i ed by t he exchange or cl eari ng hous e t o
refl ect changes i n t he underl yi ng i nt er est .
E. Suspensi on or restriction of trading and pricing rel ati onshi ps
Market condi t i ons (e.g. illiquidity) a n d / or t he oper at i on of t he r ul es of cert ai n mar ket s (e.g. t he suspensi on of t r adi ng i n any cont r act o r
cont r act mont h because of pri ce l i mi t s or "circuit breakers") may i ncrease t he r i sk of l oss by maki ng i t difficult or i mpossi bl e t o effect
t r ansact i ons or l i qui dat e/of f set posi t i ons. If you have sol d opt i ons, t hi s may i ncrease t he r i sk of l oss.
Furt her, nor mal pri ci ng rel at i onshi ps bet ween t he underl yi ng i nt er est a nd t he f ut ur e, a nd t he underl yi ng i nt er est a nd t he opt i on may n o t
exist. Thi s can occur when, f or exampl e, t he f ut ur es cont r act underl yi ng t he opt i on i s subj ect t o pri ce l i mi t s while t he opt i on i s not . The
absence of a n underl yi ng reference pri ce may make i t difficult t o j udge "fair" value.
F. Deposi t ed cash and property
You s houl d fami l i ari ze yoursel f wi t h t he pr ot ect i ons accor ded money or ot her pr oper t y you deposi t f or domest i c a nd forei gn t r ansact i ons,
part i cul arl y i n t he event of a f i r m i nsol vency or bankr upt cy. The ext ent t o whi ch you may recover your money or pr oper t y may be gover ned
by specific legislation or local rul es. In s ome j uri sdi ct i ons, pr oper t y whi ch ha d been specifically i dent i fi abl e a s your own will be p r o -r at ed i n
t he s ame manner a s cash f or pur pos es or di st r i but i on i n t he event of a short fal l .
G. Commi ssi on and other charges
Before you begi n t o t r ade, you s houl d obt ai n a cl ear expl anat i on of all commi ssi on, f ees a nd ot her char ges f or whi ch you will be liable. Thes e
char ges will affect your net pr of i t (if any) or i ncrease your l oss.
H. Transacti ons i n other juri sdi cti ons
Tr ansact i ons on mar ket s i n ot her j uri sdi ct i ons, i ncl udi ng mar ket s formal l y l i nked t o a domest i c mar ket , may expose you t o addi t i onal ri sk.
Such mar ket s may be subj ect t o regul at i on whi ch may offer di f ferent or di mi ni shed i nvest or prot ect i on. Before you t r ade you s houl d i nqui r e
about any r ul es rel evant t o your part i cul ar t ransact i ons. Your local regul at ory aut hor i t y will be unabl e t o compel t he enf or cement of t he r ul es
of regul at ory aut hor i t i es or mar ket s i n ot her j uri sdi ct i ons wher e your t r ansact i ons have been effect ed. You s houl d as k t he f i r m wi t h whi ch
you deal f or det ai l s about t he t ypes of r edr ess available i n bot h your home j uri sdi ct i on a nd ot her rel evant j uri sdi ct i ons bef or e you s t ar t t o
t r ade.
I. Currency ri sks
The pr of i t or l oss i n t r ansact i ons i n forei gn cur r ency-denomi nat ed cont r act s (whet her t hey ar e t r aded i n your own or anot her j uri sdi ct i on)
will be affect ed by f l uct uat i ons i n cur r ency r at es wher e t her e i s a need t o conver t f r om t he cur r ency denomi nat i on of t he cont r act t o anot her
currency.
J. Trading facilities
Most o p e n -out cr y a nd el ect roni c t r adi ng facilities ar e s uppor t ed by c omput e r -bas ed component s ys t ems f or t he o r d e r -rout i ng, execut i on,
mat chi ng, regi st rat i on or cl eari ng of t r ades. As wi t h all facilities a nd syst ems, t hey ar e vul nerabl e t o t empor ar y di sr upt i on or failure. Your
ability t o recover cert ai n l osses may be subj ect t o l i mi t s on liability i mpos ed by t he s ys t em provi der, t he mar ket , t he cl eari ng hous e a n d /o r
member fi rms. Such l i mi t s may vary: you s houl d as k t he f i r m wi t h whi ch you deal f or det ai l s i n t hi s r espect .
K. Electronic trading
Tradi ng on a n el ect roni c t r adi ng s ys t em may di ffer not onl y f r om t r adi ng i n a n o p e n -out cr y mar ket but al so f r om t r adi ng on ot her el ect roni c
t r adi ng syst ems. If you under t ake t r ansact i ons on a n el ect roni c t r adi ng syst em, you will be exposed t o r i sks associ at ed wi t h t he s ys t em
i ncl udi ng t he fai l ure of har dwar e a nd soft ware. The r esul t of any s ys t em fai l ure may be t hat your or der i s ei t her not execut ed accordi ng t o
your i nst r uct i ons or i s not execut ed at all.
L. Of f -exchange transacti ons
In s ome j uri sdi ct i ons, a nd onl y t hen i n r est r i ct ed ci rcumst ances, f i r ms ar e per mi t t ed t o effect o f f - exchange t ransact i ons. The f i r m wi t h
whi ch you deal may be act i ng a s your count er par t y t o t he t ransact i on. It may be difficult or i mpossi bl e t o l i qui dat e a n exi st i ng posi t i on, t o
assess t he value, t o det er mi ne a fai r pri ce or t o assess t he exposur e t o ri sk. For t hes e r easons, t hes e t r ansact i ons may involve i ncr eased ri sks.
Of f - exchange t r ansact i ons may be l ess r egul at ed or subj ect t o a separ at e regul at ory regi me. Before you under t ake s uch t ransact i ons, you
s houl d fami l i ari ze yoursel f wi t h appl i cabl e r ul es a nd at t endant ri sks.
I hereby acknowl edge t hat I have recei ved and underst ood t hi s ri sk di scl osure st at ement :
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Signature of Account Holder Signature of Joint Account Holder
Dat e Dat e
Futures Trading Arbitration Agreement
If you t rade stocks or stock opti ons i n your IB account , you wi l l be covered by a mandat ory arbi t rat i on agreement , whi ch st at es t hat any
di sput es regardi ng your account wi l l be resol ved t hrough arbi t rat i on. The fol l owi ng opt i onal arbi t rat i on agreement covers trading in futures or
opti ons on futures, i n t he event t hat you and your advi sor choose t o t rade t hese i nvest ment product s i n your account . You are not requi red t o
si gn t he Fut ures Tradi ng Arbi t rat i on Agreement bel ow, but i f you do not si gn i t your account wi l l be rest ri ct ed t o a one cont ract t radi ng l i mi t .
Futures Trading Arbitration Agreement: Any controversy or claim between Interactive Brokers LLC ("IB") and the undersigned ("Customer")
ari si ng out of or rel at i ng t o Cust omer' s Account wi t h IB, t o t ransact i ons bet ween IB and Cust omer, t o t he Cust omer Agreement wi t h IB or any
ot her agreement bet ween IB and Cust omer, or t o t he breach of any such t ransact i on or agreement shal l , except as provi ded bel ow, be resol ved by
arbi t rat i on before a forum chosen i n accordance wi t h t he procedure set out bel ow. If, by reason of any appl i cabl e st at ut e, regul at i on, exchange
rul e or ot herwi se, Cust omer' s advance agreement t o submi t a cont roversy t o arbi t rat i on woul d not be enforceabl e by IB, t hi s provi si on shal l not
permi t Cust omer t o enforce IB' s advance agreement t o submi t t o arbi t rat i on. Any award rendered i n any arbi t rat i on conduct ed pursuant t o t hi s
agreement shal l be fi nal , bi ndi ng and enforceabl e i n accordance wi t h t he l aws of t he St at e of Connect i cut and j udgment may be ent ered on any
such award by any court havi ng j uri sdi ct i on t hereof.
At such t i me as Cust omer not i fi es IB t hat Cust omer i nt ends t o submi t a cl ai m t o arbi t rat i on, or at such t i me as IB not i fi es Cust omer t hat IB
i nt ends t o submi t a cl ai m t o arbi t rat i on, Cust omer wi l l have t he opport uni t y t o choose a forum from a l i st of t hree or more qual i fi ed forums
provi ded by IB. A "qual i fi ed forum" i s an organi zat i on whose procedures for conduct i ng arbi t rat i ons compl y wi t h t he requi rement s of t he
Commodity Futures Trading Commission ("CFTC") Rule 166. 5.
As required by CFTC Rule 166. 5, IB will pay any incremental fees which may be assessed by a qualified forum for provision of a mixed arbitration
panel , unl ess t he arbi t rat ors heari ng t he cont roversy det ermi ne t hat Cust omer has act ed i n bad fai t h i n i ni t i at i ng or conduct i ng t he arbi t rat i on. A
"mi xed arbi t rat i on panel " i s an arbi t rat i on panel composed of one or more persons, a maj ori t y of whom are not members or associ at ed wi t h a
member of a cont ract market or empl oyee t hereof, and who are not ot herwi se associ at ed wi t h a cont ract market .
I n connect i on wi t h t hi s Arbi t rat i on Agreement , IB i s requi red t o furni sh t o you t he fol l owi ng st at ement , pursuant t o Rul e 166. 5 of t he CFTC:
THREE FORUMS EXIST FOR THE RESOLUTION OF COMMODITY DISPUTES: CIVIL COURT LITIGATION, REPARATIONS AT THE COMMODITY
FUTURES TRADING COMMISSION ("CFTC"), AND ARBITRATION CONDUCTED BY A SELF-REGULATORY OR OTHER PRIVATE ORGANIZATION.
THE CFTC RECOGNIZES THAT THE OPPORTUNITY TO SETTLE DISPUTES BY ARBITRATION MAY IN SOME CASES PROVIDE MANY BENEFITS TO
CUSTOMERS, INCLUDING THE ABILITY TO OBTAIN AN EXPEDITIOUS AND FINAL RESOLUTION OF DISPUTES WITHOUT INCURRING SUBSTANTIAL
COSTS. THE CFTC REQUIRES, HOWEVER, THAT EACH CUSTOMER INDIVIDUALLY EXAMINE THE RELATIVE MERITS OF ARBITRATION AND THAT
YOUR CONSENT TO THIS ARBITRATION AGREEMENT BE VOLUNTARY.
BY SIGNING THIS AGREEMENT, YOU: (1) MAY BE WAIVING YOUR RIGHT TO SUE IN A COURT OF LAW; AND (2) ARE AGREEING TO BE BOUND BY
ARBITRATION OF ANY CLAIMS OR COUNTERCLAIMS WHICH YOU OR IB MAY SUBMIT TO ARBITRATION UNDER THIS AGREEMENT. YOU ARE
NOT, HOWEVER, WAIVING YOUR RIGHT TO ELECT INSTEAD TO PETITION THE CFTC TO INSTITUTE REPARATIONS PROCEEDINGS UNDER
SECTION 14 OF THE COMMODITY EXCHANGE ACT WITH RESPECT TO ANY DISPUTE WHICH MAY BE ARBITRATED PURSUANT TO THIS
AGREEMENT. IN THE EVENT A DISPUTE ARISES, YOU WILL BE NOTIFIED IF IB INTENDS TO SUBMIT THE DISPUTE TO ARBITRATION. IF YOU
BELIEVE A VIOLATION OF THE COMMODITY EXCHANGE ACT IS INVOLVED AND IF YOU PREFER TO REQUEST A SECTION 14 "REPARATIONS"
PROCEEDING BEFORE THE CFTC, YOU WILL HAVE 45 DAYS FROM THE DATE OF SUCH NOTICE IN WHICH TO MAKE THAT ELECTION. YOU NEED
NOT SIGN THIS AGREEMENT TO OPEN OR MAINTAIN AN ACCOUNT WITH IB. SEE 17 CFR 166.5.
I hereby acknowl edge t hat I have read and underst ood and t hat I agree t o t he Fut ures Tradi ng Arbi t rat i on Agreement :
Signature of Account Holder Signature of Joint Account Holder
Dat e Dat e
Discretionary Trading Authorization/Power of Attorney for Financial Advisor and Request to Send Trade Confirmations and
Account Statements to Advi sor
You are appointing a financial advisor ("Advisor"), chosen by you, to manage your Interactive Brokers account. The designated Advisor will be
abl e t o execut e t rades, deposi t and wi t hdraw money t o and from your account (al l wi t hdrawal s must be i n your name), request i nformat i on,
recei ve account st at ement s and confi rmat i ons, change cert ai n of your cust omer i nformat i on, and general l y manage your Int eract i ve Brokers
account as speci fi ed bel ow:
General:
The t erms and condi t i ons of t hi s Aut hori zat i on are i n addi t i on t o t he provi si ons of al l ot her agreement s bet ween Int eract i ve Brokers and
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Cust omer or Advi sor. The agreement s appl i cabl e t o Cust omer' s account (s) wi l l govern al l orders and t ransact i ons, and Advi sor i s bound by al l
t er ms of t hose agr eement s.
Request to Deduct Advi sory Fees i f Appl i cabl e:
Cust omer request s and aut hori zes IB t o deduct from Cust omer' s IB account Advi sory Fees and t o di sburse t hose Fees di rect l y t o t he Advi sor,
based on t he fee arrangement t hat Cust omer has agreed upon wi t h t he Advi sor ("Fees") and speci fi ed t o IB. If t he Advi sor bi l l s Cust omer di rect l y
for Fees, or if Advisor does not charge Customer a Fee for Advisory services, Customer will specify that to IB.
Request to Send Confirmations and Statements to Advisor:
Cust omer request s t hat IB send al l t rade confi rmat ions and account st at ement s di rect l y t o Advi sor and not t o Cust omer di rect l y. If Cust omer
changes t hi s i nst ruct i on and deci des t hat confi rmat i ons and account st at ement s shoul d be sent di rect l y t o Cust omer, Cust omer agrees t o cont act
IB Customer Service at help@interactivebrokers. com or by calling the toll free Customer Service number listed on IB' s website at
www. interactivebrokers. com or www. interactivebrokers. co. uk or www. interactivebrokers. ca. Upon Customer' s request, IB will provide Customer
wi t h a username and password so t hat Cust omer may vi ew account st at ement s onl i ne at t he IB websi t e.
Advi sor' s Authori ty:
Thi s agreement aut hori zes Int eract i ve Brokers t o accept t he i nst ruct i ons of t he Advi sor on behal f of the Cust omer. Thi s aut hori zat i on wi l l be
appl i cabl e t o al l asset s Cust omer hol ds i n al l Int eract i ve Brokers account s for whi ch Advi sor has been desi gnat ed. Cust omer hereby aut hori zes
Advi sor t o i nqui re i n, t rade, buy, sel l (i ncl udi ng short sal es), exchange, convert , t ender, t rade, or ot herwi se acqui re or di spose of st ocks, bonds,
opt i ons securi t i es, fut ures, securi t y fut ures, forei gn exchange and any ot her i nvest ment s, on margi n or ot herwi se, for and at t he ri sk of t he
Cust omer. Cust omer underst ands t hat a commi ssi on wi l l be charged t o t he account each t i me a t rade i s effect ed.
The Advi sor i s al so permi t t ed t o arrange for t he deposi t of funds and asset s t o t he Cust omer' s account (s) and t o redeem or wi t hdraw funds or
asset s from t he Cust omer' s account (i ncl udi ng t he del i very of securi t i es from t he account ), for t he benefi t of t he Cust omer, regardl ess of t he t ax
consequences. The Advi sor may i ni t i at e t ransfers (i ncl udi ng i nt er-broker t ransfers), rol l overs, Rot h I RA conversi ons, IRA recharact eri zat i ons or
ot her t ransfers of asset s bet ween and among Cust omer account s. Cust omer aut hori zes Int eract i ve Brokers, act i ng on Advi sor' s i nst ruct i ons, t o
aggregat e t ransact i on orders for Cust omer' s account (s) wi t h orders for one or more ot her account s over whi ch Advi sor has t radi ng aut hori t y. The
Advi sor i s aut hori zed t o recei ve al l i nformat i on regardi ng t he account (s) and t o recei ve account st at ement s, confi rmat i ons and t ax i nformat i on.
The Advi sor i s aut hori zed t o add, del et e or change Cust omer or account i nformat i on.
Int eract i ve Brokers i s aut hori zed, but not requi red t o, conduct furt her i nqui ry or seek aut hori zat i on from t he Cust omer or furt her cl ari fi cat i on
from Advi sor or Cust omer regardi ng any i nst ruct i on from Advi sor for Cust omer' s account (s). Int eract i ve Brokers reserves t he ri ght , i n i t sol e
di scret i on, t o refuse t o honor part i cul ar i nst ruct i ons from Advi sor, or t o no l onger honor i nst ruct i ons from Advi sor. Cust omer and Advi sor
acknowl edge t hat al l i nformat i on provi ded by ei t her of t hem on t hi s form, or ot herwi se provi ded t o Int eract i ve Brokers i n t he appl i cat i on
process, i s subj ect t o veri fi cat i on, and Cust omer and Advi sor aut hori ze Int eract i ve Brokers t o veri fy al l i nformat i on t hrough t he use of credi t
agenci es or any ot her cust omary or reasonabl e means. Advi sor wi l l provi de prompt l y any i nformat i on reasonabl y request ed by Int eract i ve
Brokers concerni ng t he management of t he account (s) or compl i ance wi t h t hi s Aut hori zat i on. Thi s provi si on shal l not be read t o i mpl y t hat
Int eract i ve Brokers has any dut y t o supervi se or moni t or Advi sor' s management of Cust omer' s account (s) or compl i ance wi t h appl i cabl e l aw.
Not a Substi tute for Advi sory Agreement:
Cust omer and Advi sor acknowl edge t hat t hi s Aut hori zat i on merel y aut hori zes Advi sor t o conduct cert ai n act i vi t i es wi t h respect t o Cust omer' s
account and i s not a subst i t ut e for an Advi sory Agr eement and i s not desi gned t o sat i sfy any regul at or y obl i gat i ons appl i cabl e t o Advi sor t o ent er
such agr eement .
Role of Interactive Brokers - Disclaimer and Waiver of Liability:
ADVISOR WAS SELECTED SOLELY BY CUSTOMER AND HAS NOT BEEN RECOMMENDED OR ENDORSED BY IB. ADVISOR IS NOT EMPLOYED
BY OR REGISTERED OR ASSOCIATED WITH IB. IB WILL NOT INVESTIGATE OR JUDGE THE COMPETENCE OR INTEGRITY OF THE ADVISOR
OR MONITOR THE ACTIONS OF THE ADVISOR. IB WILL NOT REVIEW THE ADVISOR'S RECOMMENDATIONS OR JUDGE THE SUITABILITY OF
ANY TRADING OR INVESTMENT RECOMMENDATION OR DECISION OF ADVISOR OR CUSTOMER. IB DOES NOT PROVIDE ADVISORY
SERVICES TO IB CUSTOMERS AND WILL NOT PROVIDE INVESTMENT OR TRADING OR TAX ADVICE REGARDING THE ACCOUNT.
Advisor's Compliance with State, Federal or Non-U.S. Law:
Advisor will comply with all applicable state and federal securities laws and regulations, including the Investment Advisors Act of 1940, the
Commodity Exchange Act and comparable state laws, and will comply with any applicable laws of Non-U. S. jurisdictions (hereinafter
"Applicable Laws and Regulations"). Interactive Brokers assumes no responsibility for determining if Advisor is complying with Applicable
Laws and Regulations regarding its provision of advisory services. CUSTOMER ACKNOWLEDGES THAT IB IS NOT RESPONSIBLE FOR
DETERMINING WHETHER ADVISOR IS REQUIRED TO BE REGISTERED OR LICENSED OR WHETHER ADVISOR IS EXEMPT FROM
REGISTRATION OR LICENSING. THIS IS SOLELY THE RESPONSIBILITY OF ADVISOR. IF CUSTOMER HAS QUESTIONS ABOUT THIS,
CUSTOMER MUST CONTACT ADVISOR FOR FURTHER INFORMATION.
Termi nati on:
Cust omer and/ or Advi sor agree(s) t o not i fy Int eract i ve Brokers i mmedi at el y, i n wri t i ng, i f Cust omer or Advi sor t ermi nat es, modi fi es or revokes
t hi s Aut hori zat i on. Advi sor agrees t o not i fy Int eract i ve Brokers i mmedi at el y, i n wri t i ng, i f Cust omer di es or becomes i ncapaci t at ed such t hat t hi s
Aut hori zat i on woul d be rendered voi d. Thi s Aut hori zat i on shal l remai n i n effect unt i l Int eract i ve Brokers recei ves wri t t en not i ce of i t s
t ermi nat i on and has had suffi ci ent t i me t o process such not i ce and t ermi nat e Advi sor' s aut hori t y.
Indemnification of Interactive Brokers by Customer:
Cust omer agrees t o i ndemni fy and hol d Int eract i ve Brokers, and i t s affi l i at es, and i t s and t hei r successors and assi gns, and i t s and t hei r di rect ors,
offi cers, empl oyees and Advi sors harml ess from and agai nst al l cl ai ms, act i ons, cost s and l i abi l i t i es, i ncl udi ng at t orney' s fees, ari si ng out of or
rel at i ng t o t hei r rel i ance on t hi s Aut hori zat i on or t hei r execut i on of any of Advi sor' s i nst ruct i ons. Cust omer agrees t hat si nce Int eract i ve Brokers
wi l l not supervi se or moni t or Advi sor' s t radi ng deci si ons or ot her act i vi t i es, Cust omer wi l l not at t empt t o hol d Int eract i ve Brokers l i abl e for any
t rade or deci si on or act i on of Advi sor. Int eract i ve Brokers' sri ght s under t hi s paragraph are i n addi t i on t o any ot her ri ght s i t has under ot her
agreement s wi t h Cust omer and/ or Advi sor.
Indemnification of Interactive Brokers by Advisor:
Advi sor agrees t o i ndemni fy and hol d Int eract i ve Brokers, and i t s affi l i at es, and i t s and t hei r successors and assi gns, and i t s and t hei r di rect ors,
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offi cers, empl oyees and Advi sors harml ess from and agai nst al l cl ai ms, act i ons, cost s and l i abi l i t i es, i ncl udi ng at t orney' s fees, ari si ng out of or
rel at i ng t o any breach by Advi sor of any provi si on of t hi s Agreement or ot her Agreement s wi t h Int eracti ve Brokers and/ or Cust omer; t he
performance or non-performance of t he Advi sor' s servi ces; any t rade or act i on of Advi sor i n Cust omer' s account (s); and any di sput e i nvol vi ng
Advi sor and Cust omer. Int eract i ve Brokers' s ri ght s under t hi s paragraph are i n addi t i on t o any ot her ri ght s i t has under ot her agreement s wi t h
Cust omer and/ or Advi sor .
Customer' s Representati ons and Acknowl edgments:
A. Cust omer has gr ant ed t o Advi sor t he full di scret i on t o di r ect t he t r adi ng i n t he account (s) on Cust omer ' s behal f a nd Cust omer will not have
access t o IB's el ect roni c s ys t ems f or pl aci ng or der s f or t he account . Only t he Advi sor will be abl e t o us e t he IB Tr ader Workst at i on t o conduct
t r adi ng i n t he account .
B. If Cust omer t er mi nat es t he rel at i onshi p wi t h Advi sor or f or any ot her r eason wi shes t o t er mi nat e Advi sor' s access t o t he account(s), or i f
Cust omer wi shes t o di rect t he t r adi ng i n Cust omer ' s account , or if Cust omer wi shes t o us e advi sory servi ces of anot her Advisor, Cus t omer
will cont act IB i mmedi at el y by emai l t o hel p@i nt eract i vebr okers. com or by calling t he t ol l f r ee Cust omer Service numbe r l i st ed on IB's websi t e
at www. i nt eract i vebrokers. com or www. i nt eract i vebrokers. co. uk or www. interactivebrokers. ca.
C. Because Cust omer has i nst r uct ed IB t o s end all conf i r mat i ons a nd account s t at ement s di rect l y t o Advisor, Cust omer will rely on Advi sor f or
i nf or mat i on r egar di ng Cust omer ' s account . If Cust omer has any quest i ons or concer ns r egar di ng t he account , Cust omer will cont act IB
Cust omer Service at hel p@i nt eract i vebrokers. com or by cal ling t he t ol l f r ee Cust omer Service number l i st ed on IB's websi t e a t
www. i nt eract i vebrokers. com or www. i nt eract i vebrokers. co. uk or www. interactivebrokers. ca.
D. Dependi ng on t he equi t y i n Cust omer ' s account , deduct i on of Advi sory Fees i n a n IB mar gi n account may cause t he account t o i ncur mar gi n
i nt erest . Fur t her mor e, if deduct i on of Advi sory Fees woul d cause t he account t o have i nsuffi ci ent equi t y t o cover mar gi n r equi r ement s or t o
sat i sfy any ot her obl i gat i on t o IB, IB may, at i t s sol e di scret i on: (1) deduct t he Fees a nd exerci se any of i t s r i ght s a nd r emedi es under t he IB
Cust omer Agreement , i ncl udi ng l i qui dat i ng posi t i ons i n t he account wi t hout pr i or not i ce i n or der t o sat i sfy mar gi n r equi r ement s o r
obligations; a n d /or (2) decl i ne t o deduct t he Fees, i n whi ch case Cust omer will be liable t o pay s uch Fees t o Advi sor directly.
E. All claims, quest i ons or di sput es r egar di ng IB's provi si on of br oker age servi ces or r egar di ng IB's execut i on of part i cul ar t r ades mus t b e
r ef er r ed t o IB. Advi sor has no aut hor i t y t o resol ve s uch cl ai ms or di sput es on IB's behal f.
F. ALL CLAIMS OR DISPUTES REGARDING ADVISOR's SERVICES OR ACTIONS (INCLUDING SPECIFIC CONDUCT, ADVICE,
RECOMMENDATIONS, OR TRADES PLACED BY ADVISOR OR FEES OWED) ARE SOLELY BETWEEN CUSTOMER AND ADVISOR. IB IS NOT
LIABLE FOR ANY SUCH CLAIMS AND DISPUTES AND CUSTOMER UNDERSTANDS AND FULLY ACKNOWLEDGES THAT CUSTOMER
CANNOT BRING A CLAIM AGAINST IB OR RECEIVE DAMAGES OR COMPENSATION OF ANY KIND FROM IB, INCLUDING CLAIMS FOR
DIRECT, INDIRECT, COMPENSATORY, INCIDENTAL, SPECIAL, EXEMPLARY, PUNITIVE OR CONSEQUENTIAL DAMAGES. ALL CLAIMS OR
DISPUTES REGARDING THE FEES OWED TO ADVISOR ARE SOLELY BETWEEN CUSTOMER AND ADVISOR. IF CUSTOMER DISPUTES
ADVISOR's RECEIPT OF ANY FEES THAT IB HAS DEDUCTED FROMTHE ACCOUNT AND SENT TO ADVISOR, CUSTOMER UNDERSTANDS
THAT CUSTOMER's SOLE REMEDY IS AGAINST ADVISOR AND CUSTOMER AGREES NOT TO BRING ANY CLAIMAGAINST IB.
G. Arbitration: The agreement s bet ween Customer and Interactive Brokers (whi ch are al so bi ndi ng on Advi sor) contai n mandatory
arbitration cl auses requiring all parti es t o arbitrate any di sput es regarding securi ti es trading. The agreement s may al so contai n
arbitration provi si ons regarding futures trading. All applicable arbitration cl auses are incorporated herei n by reference.
Signature
CUSTOMER REPRESENTS THAT CUSTOMER HAS RECEIVED THE PACKAGE OF DOCUMENTS TITLED "INTERACTIVE BROKERS LLC
AGREEMENTS AND DISCLOSURE DOCUMENTS" AND HAS READ AND UNDERSTOOD AND INTENDS TO BE BOUND BY THE
INTERACTIVE BROKERS CUSTOMER AGREEMENT AND ALL OF THE PROVIDED DISCLOSURE DOCUMENTS.
CUSTOMER REPRESENTS THAT CUSTOMER HAS READ AND UNDERSTOOD AND INTENDS TO BE BOUND BY THE ABOVE
"DISCRETIONARY TRADING AUTHORIZATION/ POWER OF ATTORNEY FOR FINANCIAL ADVISOR AND REQUEST TO SEND TRADE
CONFIRMATIONS AND ACCOUNT STATEMENTS TO ADVISOR"
CUSTOMER REPRESENTS THAT ALL INFORMATION PROVIDED DURING THE ACCOUNT APPLICATION PROCESS IS TRUE AND CORRECT
AND AGREES TO NOTIFY INTERACTIVE BROKERS OF ANY MATERIAL CHANGES IN THAT INFORMATION.
U.S. TAX CERTIFICATION: UNDER PENALTIES OF PERJURY, I CERTIFY THAT: 1) THE NUMBER PROVIDED IN THIS APPLICATION IS MY
CORRECT TAXPAYER IDENTIFICATION NUMBER (OR I AM WAITING FOR A NUMBER TO BE ISSUED TO ME); AND 2) I AM NOT SUBJECT
TO BACKUP WITHHOLDING BECAUSE: (A) I AM EXEMPT FROM BACKUP WITHHOLDING, OR (B) I HAVE NOT BEEN NOTIFIED BY THE
INTERNAL REVENUE SERVICE (IRS) THAT I AM SUBJECT TO BACKUP WITHHOLDING AS A RESULT OF A FAILURE TO REPORT ALL
INTEREST OR DIVIDENDS, OR (C)THE IRS HAS NOTIFIED ME THAT I AM NO LONGER SUBJECT TO BACKUP WITHHOLDING.
ACCOUNT TRANSFER: IF CUSTOMER HAS PROVIDED INFORMATION REQUESTING THAT ANOTHER BROKER TRANSFER ASSETS AND/
OR CASH TO INTERACTIVE BROKERS, CUSTOMER HEREBY REQUESTS SUCH TRANSFER PURSUANT TO THE TERMS AND CONDITIONS
SPECIFIED BELOWIN THE SECTION: "FUND YOUR ACCOUNT/TRANSFER FROMANOTHER BROKER"
THE INTERACTIVE BROKERS CUSTOMER AGREEMENT CONTAINS AN ARBITRATION CLAUSE REQUIRING BOTH PARTIES TO
ARBITRATE ANY DISPUTES REGARDING SECURITIES TRADING OR CUSTOMER's SECURITIES ACCOUNT. CUSTOMER MUST BE AWARE
THAT:
ARBITRATION IS FINAL AND BINDING ON THE PARTIES.
THE PARTIES ARE WAIVING THEIR RIGHT TO SEEKREMEDIES IN COURT, INCLUDING THE RIGHT TO JURY TRIAL.
PRE-ARBITRATION DISCOVERY IS GENERALLY MORE LIMITED THAN AND DIFFERENT FROMCOURT PROCEEDINGS.
THE ARBITRATORS'S AWARD IS NOT REQUIRED TO INCLUDE FACTUAL FINDINGS OR LEGAL REASONING AND ANY PARTY'S
RIGHT TO APPEAL OR TO SEEKMODIFICATION OF RULINGS BY THE ARBITRATORS IS STRICTLY LIMITED.
Pa g e 25 I B L L C Ac c o u n t Ap p lic a t io n f o r F in a n c ia l Ad v is o r Clie n t s ( Pr o p r ie t a r y T r a d in g G r o u p s ) - Se p 2 2 2 0 0 9
THE PANEL OF ARBITRATORS WILL TYPICALLY INCLUDE A MINORITY OF ARBITRATORS WHO WERE OR ARE AFFILIATED WITH
THE SECURITIES INDUSTRY.
Signature of Account Holder Signature of Joint Account Holder
Dat e Dat e


Pa g e 26 I B L L C Ac c o u n t Ap p lic a t io n f o r F in a n c ia l Ad v is o r Clie n t s ( Pr o p r ie t a r y T r a d in g G r o u p s ) - Se p 2 2 2 0 0 9
V. FUND YOUR ACCOUNT

Select funding method:
How do you wish to initially fund your account? (choose one)
Check (Cashiers, Bank and Teller checks accepted. Checks are only accepted for U. S. dollar currency deposits. Personal checks are held
for 10 busi ness days before funds are avai l abl e for t radi ng. )
Wire Transfer
Account Transfer from Another Broker - ACATS (ATON for Canadi an Asset s). Transfer of cash and securi t i es posi t i ons from a t hi rd-
part y broker. Onl y t ransfers from a US or Canadi an broker can be accept ed (3 t o 7 days for asset s t o arri ve dependi ng on t he t hi rd-part y
broker). Pl ease not e, a number of brokers requi re a paper ACAT si gnat ure for t ransfer. If your broker i s l i st ed bel ow, you must send a
copy of t he ACAT port i on of your appl i cat i on di rect l y t o t hi s broker.
Firm Name
Ameri t rade Cl eari ng
National Financial Services
Legent
Brown and Co
E*Trade
Sout hwest Securi t i es
Comput er Cl eari ng Servi ces
Fahnst ock
Wachovia Securities, LLC
Salomon Smith Barney
Morgan Stanley Dean Witter
Document s Request ed
Partial ACAT
Partial and full ACATs
Partial ACAT
Partial ACAT
Partial ACAT
Partial ACAT
Partial ACAT
Partial ACAT
Partial and full ACATs
Partial and full ACATs
Partial and full ACATs


Compl ete onl y o n e of the bel ow secti ons:
Check: Compl et e t hi s sect i on onl y i f you want t o i ni t i al ly fund your account wi t h a check:
Amount of check (check must be in U. S dollars) Check Number (opt i onal )
Bank Routing (ABA) Number on check: Bank Account Number
Instructions for Check Deposits:
So that we may process your check as quickly as possible, please enter check information in the spaces provided above. If you are not sure what
to enter, please see the example below:
Please make your check payable to "Interactive Brokers LLC" and make sure the names of all account hol ders are written on the check (use the
Memo line if necessary).
Please enclose your check with this completed appli cation. If you are faxing or e-mailing us your completed application and you want to mail the
check separately, send it to:
Interactive Brokers
8 Greenwich Office Park
Greenwi ch, CT 06831-0504
Attn: IBCD

Pa g e 27 I B L L C Ac c o u n t Ap p lic a t io n f o r F in a n c ia l Ad v is o r Clie n t s ( Pr o p r ie t a r y T r a d in g G r o u p s ) - Se p 2 2 2 0 0 9
Free of Payment (FOP) Request: Compl et e t hi s sect i on onl y i f you want t o i ni t i al l y fund your account wi t h a wi re t ransfer:
This form authorizes the transfer of assets held at a third-party broker to be moved to Interactive Brokers.
You must contact your third-party broker to initiate the transfer. Your Account Name, Tax Identification Number, and Customer Type (i. e.
individual, joint, Roth IRA) for your Interactive Brokers Account should match the third-party broker account in order for the transfer to take
place. Please note that Interactive Brokers accepts only products that it makes available for trading. Certain products, such as Mutual Funds and
Limited Partnership units cannot be held in your Interactive Brokers account.
Please Note: You should confirm with your sending broker their DTC Participant # so as not to delay the processing of your Free of Payment
delivery.
Thi rd-part y Broker Account Name
Account Number:
Pl ease speci fy stock posi ti ons to transfer:
Symbol: Shares:
Authorized Signature Dat e

Pa g e 28 I B L L C Ac c o u n t Ap p lic a t io n f o r F in a n c ia l Ad v is o r Clie n t s ( Pr o p r ie t a r y T r a d in g G r o u p s ) - Se p 2 2 2 0 0 9
Wire Transfer: Compl et e t hi s sect i on onl y i f you want t o i ni t i al ly fund your account wi t h a wi re t ransfer:
Amount of wi re t ransfer Currency of wire transfer (for example: U. S. dollars)
Name of Sendi ng Bank/ Broker
Instructions for Wire Transfer:
You must notify your bank to send a wire. All incoming wires must have the account holder' s name (both names if a joint account). Depending on
your bank, please allow one to four business days for your funds to be received. For security reasons, incoming funds are held for ten business days
bef ore you can wi t hdraw t he f unds.
Use the chart below to determine where to have your bank send the wire transfer, based on the currency of the funds being sent. For wires
originating in the same country as the receiving bank listed below, please instruct your bank to send funds via the in-country payment system(s).
For wires originating outside the country of the receiving bank, instruct your bank to send funds via SWIFT. Line 59 of the SWIFT message should
include Interactive Brokers LLC Bank Account Number at Citibank and Line 70 of the SWIFT message should include your name (IB Account
Holder' s Name).
Currency Recei vi ng Bank Name and Address Receiving Bank Codes
Recei vi ng Bank Account Name
and Number
If funds wired in
U.S. Dollars:
Citibank, N.A. (New York Branch)
Wall Street
New York, NY 10043
Uni t ed St at es of Ameri ca
ABA Number: 021000089
SWIFT BIC Code: CITI US 33
Interactive Brokers LLC
Bank Account No. 40806826
For furt her credi t t o: [Insert All
Account Holder Name(s)]
If funds wired in
Aust ral i an Dol l ars:
Citibank, N.A (Sydney)
2 Park St reet
SYDNEY NSW AUSTRALIA 2000
BSB Code: 242-000
SWIFT BIC Code: CITI AU 2X
Interactive Brokers LLC
Bank Account No. 121229005
For furt her credi t t o: [Insert All
Account Holder Name(s)]
If funds wired in
Canadi an Dol l ars:
Ci t i bank Canada
123 Front St reet West
Toronto, Ontario M5J 2M3
Canada
SWIFT BIC Code: CITI CA TT
Interactive Brokers LLC
Bank Account No. 2014459007
For furt her credi t t o: [Insert All
Account Holder Name(s)]
If funds wired in
Swiss Francs:
Citibank, N.A. (London Branch)
Citigroup Centre, Canary Wharf
33 Canada Square
London, England (E14 LB)
Uni t ed Ki ngdom
Sort Code: 185008
SWIFT BIC Code: CITI GB 2L
Interactive Brokers LLC
Bank Account No. 10569674
Int'l Bank Acct No. (IBAN):
GB35CITI18500810569674
For furt her credi t t o: [Insert All
Account Holder Name(s)]
If funds wired in
British Pounds:
Citibank, N.A. (London Branch)
Citigroup Centre, Canary Wharf,
33 Canada Square
London, England (E14 LB)
Uni t ed Ki ngdom
Sort Code: 185008
SWIFT BIC Code: CITI GB 2L
Interactive Brokers LLC
Bank Account No. 08774544
Int'l Bank Acct No. (IBAN):
GB70CITI18500808774544
For furt her credi t t o: [Insert All
Account Holder Name(s)]
If funds wired in
Euros:
Citigroup Global Markets Deutschland AG
& Co. KGaA.
REUTERWEG 16 60323 FRANKFURT AM
MAIN GERMANY
FRANKFURT AM MAIN
BLZ No.: 50210900
SWIFT BIC Code: CITI DE FF
Interactive Brokers LLC
Bank Account No. 0119754038
Int'l Bank Acct No. (IBAN):
DE21502109000119754038
For furt her credi t t o: [Insert All
Account Holder Name(s)]
If funds wired in
Hong Kong Dol l ars:
Citibank, N.A. (Hong Kong Branch)
9/ F Two Har bour f r ont
22 Tak Fung St reet
Hunghom
Hong Kong
CHATS Code: 006/391
SWIFT BIC Code: CITI HK
HX
Interactive Brokers LLC
Bank Account No. 17739993
For furt her credi t t o: [Insert All
Account Holder Name(s)]
If funds wired in
Japanese Yen:
Citibank Japan (Ltd.)
Hont en Branch
SWIFT BIC Code: CITI JP JT
Interactive Brokers LLC
Bank Account No. 0159170403
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Ci t i group Cent er
2-3-14 Hi gashi Shi nagawa
Shi nagawa-ku, Tokyo Japan
zi p- code: 140- 8639
For furt her credi t t o: [Insert All
Account Holder Name(s)]
If funds wired in
Mexican Peso:
Banco Nacional de Mexico, S.A.
Mexico Location:
3er Pi so Torre Nort e
Act. Roberto Medellin No. 800
Col. Santa Fe, Mexico, D.F. 01210
Tampa Locat i on:
Citigroup Global Transaction Services
3800 Ci t i group Cent er Tampa FL
SWIFT BIC Code:
CITIUS33MER *
Interactive Brokers LLC
Bank Account No. at
Banamex: 231440011**
For furt her credi t t o: [Insert All
Account Holder Name(s)]
If funds wired in
Swedi sh Crona:
Skandi navi ska
Enskilda Banken AB
SKANDINAVSKA ENSKILDA BANKEN
KUNGSTRDGRDSGATAN 8
106 40 STOCKHOLM
SWIFT BIC Code: ESSESESS
Interactive Brokers LLC
Bank Account No. at S-E Banken:
SE8850000000055558500891
For furt her credi t t o: [Insert All
Account Holder Name(s)]
* Citibank owns Banco Nacional de Mexico, S.A. ("Banamex"). Banamex has multiple SWIFT BIC codes. Please instruct your bank to use SWIFT BIC
Code CITIUS33MER
** IB does not have a CLABE since its bank account held with Banamex is not a checking account.
Account Transfer from Anot her Brokerage Fi rm (ACATS/ ATON): Compl et e t hi s sect i on onl y i f you want t o i ni t i al l y
fund your account t hrough a t ransfer of asset s and/ or cash from a U. S. securi t i es broker (ACATS) or a Canadi an
securities broker (ATON):
Please note: The Account Name, Tax Identification Number, and Account Type (i.e. individual, joint, Roth IRA) for your Interactive Brokers account
must exactly match the brokerage account from which you are transferring assets in order for the transfer to take place.
Also, please note that Interactive Brokers accepts transfers only of assets that IB makes available for trading. Certain products, such as mutual
funds and limited partnership units cannot be transferred to or held in your Interactive Brokers account.
Name of brokerage fi rm t hat t ransfer i s comi ng from Account number of account bei ng t ransferred
Type of account being transferred (individual, joint, IRA etc. . . ) If transfer is from an IRA account, what type? (Roth, etc. .. )
Do you have a margi n l oan i n t he account bei ng t ransferred?
Yes No
Do you have any short posi t i ons i n t he account bei ng t ransferred?
Yes No
Are t here opt i ons posi t i ons i n t he account bei ng t ransferred?
Yes No
Are you t ransferri ng al l asset s from t he account or j ust some asset s?
Full Transfer Part i al Transfer
Inst ruct i ons for Account Transfer from Anot her Broker: Customer requests that transferring broker transfer to Interactive Brokers the specified
assets in the third-party brokerage account specifi ed above. Customer understands that to the extent any assets are not readily transferable, with
or without penalties; such assets may not be transferred within the time frames required by the NYSE Rule 412 or similar rule of NASD or other
designated examining body. Unless otherwise indicat ed, customer authorizes the transferring broker to liquidate any non-transferable proprietary
money market fund assets that are part of the account and to transfer the resulting credit balance to Interactive Brokers. Customer authorizes
transferring broker to deduct any outstanding fees due from the credit balance in the account. If the account does not contain a credit balance, or
if the credit balance is insufficient to satisfy any outstanding fees due, Customer authorizes transferring broker to liquidate the assets in the
account necessary to satisfy any obligation.
Full Transfer: If you are transferring ALL the assets from another brokerage account into your Interactive Brokers account (full transfer), you do
not need to complete the form below.
Part i al Transfer: If you are transferring only SOME of the assets from another brokerage account into your Interactive Brokers account (partial
transfer), you must list all: 1) stock; 2) options; and 3) cash that you want to transfer. Use the form below and attach additional pages if necessary.
Pa g e 30 I B L L C Ac c o u n t Ap p lic a t io n f o r F in a n c ia l Ad v is o r Clie n t s ( Pr o p r ie t a r y T r a d in g G r o u p s ) - Se p 2 2 2 0 0 9
Part i al Account Transfer Form (use only if you are opening your account by transferring only part of an account with another brokerage firm to
Interactive Brokers). Use the lines below and attach additional pages if necessary:
Positions:
Stocks:
Symbol Number Shar es Long/ Shor t
L o n g
Long
Long
Long
Long
Opt i ons (Please note, this is not available for ATON
Underl yi ng
Symbol
Number of
Cont r act s
Strike Price
Expiration (yyyy/
mm/ d d )
Put / Cal l Long/ Shor t
Put Call Long Shor t
Put Call Long Shor t
Put Call Long Shor t
Put Call Long Shor t
Put Call Long Shor t
Cas h - ACATS are available for USD accounts only. ATONs are available for USD and CAD accounts
Amount Positive Cash Balance or Margin Loan?
Cash bal ance Margin Loan
If your broker requires a paper ACAT signature form for transfer, you must send a signed copy of the ACAT portion of your application to your
broker.
Authorized Signature Dat e

Pa g e 31 I B L L C Ac c o u n t Ap p lic a t io n f o r F in a n c ia l Ad v is o r Clie n t s ( Pr o p r ie t a r y T r a d in g G r o u p s ) - Se p 2 2 2 0 0 9
Short
Short
Short
Short
Short
VI. NECESSARY ACCOUNT DOCUMENTATION

Regulations require Interactive Brokers to obtain documentation verifying the identity of each of its customers.
Please make sure all documents are clear and readable.Please see further instructions below:
Document Category Acceptabl e Documents (onl y one document per category i s needed)
Proof of your fi rm' s exi stence
(The document must cl earl y st at e t he name of your fi rm)
Art i cl es of Incorporat i on
Company Char t er
Par t ner shi p Agr eement
Govt -i ssued Cert i fi cat e of Good St andi ng from t he Juri sdi ct i on of
I ncor por at i on
Proof of your firm's address
(The document must cl earl y st at e t he cl i ent ' s fi rm pri nci pal pl ace
of busi ness)
Current Business Lease;
Art i cl es of Incorporat i on, Company Chart er, Part nershi p Agreement
Government -Issued Busi ness Li cense, or Government -I ssued
Certificate of Good Standing:
But i f you used one of t he above as proof of t he ent i t y' s
exi st ence, t hen we are requi red t o obt ai n a second, di fferent
document f or pr oof of address (i . e. , t he same document cannot
be used for bot h purposes);
Ot her Government -Issued Let t ers or St at ement s Est abl i shi ng t he
Entity' s Current Address (less than 12 months old). E. g. , Tax Letters/
Notices, Etc.
Bank Statement or Signed Letter from Bank on Bank Letterhead
Confi rmi ng Address
Cust omer and bank must be f r om a count r y t hat i s a member of
the Financial Action Task Force on Money Laundering (see
ht t p: / / www. fat f-gafi . org);
St at ement must be l ess t han 12 mont hs ol d;
Brokerage Statement from a U. S. -Registered Broker Dealer or Foreign
Affiliate of a U.S.-Registered Broker Dealer
Cust omer must be from a count ry t hat i s a member of t he
Fi nanci al Act i on Task Force on Money Launderi ng (see ht t p: / /
www. fatf-gafi. org);
St at ement must be l ess t han 12 mont hs ol d;
Business Insurance Policy Documents or Riders or Insurance Bill
Pol i cy must be current l y i n effect and show address bei ng
verified;
Deed or Ot her Evi dence of Propert y
Utility Bill for Property (less than 12 months old)
Proof of the IDENTITY of each individual or entity that has an
ownership of 20% or more in the Advisor organization
If t he owner i s an i ndi vi dual , a copy of t he person' s passport , dri ver' s
license, national identity card or alien identification card.
If t he owner i s an ent i t y, t he ent i t y' s art i cl es of i ncorporat i on,
company chart er, part nershi p agreement , govt -i ssued busi ness l i cense
or govt -i ssued cert i fi cat e of good st andi ng
Proof of the identity, date of birth, and signature for each of the
officers of the organization that has the authority to sign for the
organi zati on (i. e. , its Controlling Officer, Treasurer and/or
Secretary)
The document t hat t he appl i cant provi des must i ncl ude t he
appl i cant ' s name, dat e of bi rt h, and si gnat ure
Driver' s License
Passpor t
Ot her Government -Issued Ident i fi cat i on Card
Proof of the ADDRESS of each individual or entity that has an
ownership interest of 20% or more in the Advisor organization
Mortgage Statement, Deed or Other Evidence of Property;
Current Lease;
Utility Bill (less than 12 months old);
Current Driver' s License
But i f you used dri ver' s l i cense as proof of i denti ty, t hen we are
requi red t o obt ai n a second, di fferent document for proof of
address (i. e. , driver' s license cannot be used again);
Bank St at ement , Bank-Issued Credi t Card St at ement or Bank-Issued
Debi t Card St at ement or Si gned Let t er from Bank on Bank Let t erhead
Confi rmi ng Address
Cust omer and bank must be f r om a count r y t hat i s a member of
the Financial Action Task Force on Money Laundering (see
ht t p: / / www. fat f-gafi . org);
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St at ement must be l ess t han 12 mont hs ol d;
Brokerage Statement from a U. S. -Registered Broker Dealer or Foreign
Affiliate of a U.S.-Registered Broker Dealer
Cust omer must be from a count ry t hat i s a member of t he
Fi nanci al Act i on Task Force on Money Launderi ng (see ht t p: / /
www. fatf-gafi. org);
St at ement must be l ess t han 12 mont hs ol d;
Current Homeowner' s or Rent er' s Pol i cy Document s or Ri ders
Policy must be currently in effect;
Bi l l for Homeowner' s or Rent er' s Insurance Pol i cy (l ess t han 12 mont hs
old);
Securi t y Syst em Bi l l / St at ement (l ess t han 12 mont hs ol d); or
Government -Issued Let t ers or St at ement s Est abl i shi ng Current
Address (less than 12 months old). E. g:
Tax Let t ers and not i ces;
Let t ers or not i ces from government housi ng aut hori ti es;
Jury dut y not i ces;
Vot er regi st rat i on not i ces;
Ot her offi ci al government l et t ers or not i ces showi ng cust omer
name and address bei ng veri fi ed.
Proof of the identity of the Advisor's Authorized Trader
(t he document must i ncl ude t he person' s name, dat e of bi rt h and
si gnat ure)
A copy of t he person' s passport , dri ver' s l i cense, nat i onal i dent i t y card
or al i en i dent i fi cat i on card.
Proof of the Authorized Trader's authority to trade
Document ary evi dence of t he Aut hori zed Trader' s aut hori t y t o t rade
on behal f of t he organi zat i on
Proof of the residential address of the Advisor's Authorized
Trader
Mortgage Statement, Deed or Other Evidence of Property;
Current Lease;
Utility Bill (less than 12 months old);
Current Driver' s License
But i f you used dri ver' s l i cense as proof of i denti ty, t hen we are
requi red t o obt ai n a second, di fferent document for proof of
address (i. e. , driver' s license cannot be used again);
Bank St at ement , Bank-Issued Credi t Card St at ement or Bank-Issued
Debi t Card St at ement or Si gned Let t er from Bank on Bank Let t erhead
Confi rmi ng Address
Cust omer and bank must be f r om a count r y t hat i s a member of
the Financial Action Task Force on Money Laundering (see
ht t p: / / www. fat f-gafi . org);
St at ement must be l ess t han 12 mont hs ol d;
Brokerage Statement from a U. S. -Registered Broker Dealer or Foreign
Affiliate of a U.S.-Registered Broker Dealer
Cust omer must be from a count ry t hat i s a member of t he
Fi nanci al Act i on Task Force on Money Launderi ng (see ht t p: / /
www. fatf-gafi. org);
St at ement must be l ess t han 12 mont hs ol d;
Current Homeowner' s or Rent er' s Pol i cy Document s or Ri ders
Policy must be currently in effect;
Bi l l for Homeowner' s or Rent er' s Insurance Pol i cy (l ess t han 12 mont hs
old);
Securi t y Syst em Bi l l / St at ement (l ess t han 12 mont hs ol d); or
Government -Issued Let t ers or St at ement s Est abl i shi ng Current
Address (less than 12 months old). E. g:
Tax Let t ers and not i ces;
Let t ers or not i ces from government housi ng aut hori ti es;
Jury dut y not i ces;
Vot er regi st rat i on not i ces;
Ot her offi ci al government l et t ers or not i ces showi ng cust omer
name and address bei ng veri fi ed.
Pa g e 3 3 I B L L C Ac c o u n t Ap p lic a t io n f o r F in a n c ia l Ad v is o r Clie n t s ( Pr o p r ie t a r y T r a d in g G r o u p s ) - Se p 2 2 2 0 0 9
Other Financial Institution Account Statement
(The document must cl earl y st at e t he name of t he firm and be l ess
t han 12 mont hs ol d)
Thi s requi rement appl i es onl y t o organi zat i ons and t rust s t hat
have been formed i n or are l ocat ed i n count ri es t hat are n o t full
members of the Financial Action Task Force(FATF).
NOTE: If you submi t t ed a bank or brokerage st at ement as proof of
address, t hat wi l l sat i sfy t hi s requi rement al so (same st at ement
can be used for bot h).
Bank St at ement
Broker St at ement
Mort gage St at ement
Loan St at ement

Pa g e 3 4 I B L L C Ac c o u n t Ap p lic a t io n f o r F in a n c ia l Ad v is o r Clie n t s ( Pr o p r ie t a r y T r a d in g G r o u p s ) - Se p 2 2 2 0 0 9
VII. RETURN YOUR COMPLETED APPLICATION (ALONG WITH REQUIRED DOCUMENTS) TO YOUR
ADVISOR OR TO INTERACTIVE BROKERS

Please complete all information required in this application, provide all required signatures, and return the entire
application to your Financial Advisor or directly to Interactive Brokers.
Please make sure to include copies of all required documents listed above, as well as a check (if you are opening your
account with a check).
If your advisor has instructed you to send your application directly to Interactive Brokers, you may use any of the methods
below:

Scan and Email
(Thi s i s t he fast est met hod)
Pl ease not e: The scanni ng and emai l i ng opt i on i s t ypi cal l y t he most effi ci ent met hod, and
will make account review quicker. Please be aware of the following guidelines and
l i mi t at i ons when sendi ng us e- mai l s or scanned document at t achment s.
Please send emails as text rather than HTML format. If possible, users of Microsoft
Out l ook emai l er shoul d di sabl e RFT (ri ch-t ext format ) encodi ng.
Onl y t he fol l owi ng at t achment t ypes are
accepted: .gif .tiff .tif .jpeg .jpg .png .bmp .pdf.
Please limit the size attachment to 10MB.
Pl ease l i mi t t he si ze of e-mai l t ext t o 2, 000 charact ers. Emai l s l onger t han t hat wi l l
be t r uncat ed.
When sendi ng a document by emai l , pl ease onl y i ncl ude your account number i n t he
Subject line of your email. This will allow the Int eractive Brokers system to
aut omat i cal l y post your emai l (wi t h any at t achment s) t o your appl i cat i on.
Couri er/ Overni ght Servi ce (e.g. Fed Ex)
Mai l i ng your document at i on vi a overni ght carri er i s
al so a choi ce, but pl ease keep i n mi nd t hat t he
processi ng t i me for approval of t he account may
t ake l onger t han i f sendi ng by emai l or fax.
Fax
Pa g e 35 I B L L C Ac c o u n t Ap p lic a t io n f o r F in a n c ia l Ad v is o r Clie n t s ( Pr o p r ie t a r y T r a d in g G r o u p s ) - Se p 2 2 2 0 0 9
Andrew. gi bbs@st rat cap. co. nz
38 Main Highway
El l ersl i e
Auckland
Pl ease not e: Scanni ng and emai l i ng requi red document s or sendi ng document s by
Couri er/ Overni ght servi ce are t he best met hods of sendi ng document s. If you prefer t o
send document s vi a fax, pl ease observe t he fol l owi ng gui del i nes:
Pl ease enl arge document s t o at l east 125% of t he normal si ze (up t o 3/ 4 page-si ze)
so we can read t he document .
Pl ease l i ght en t he document s by one or t wo i ncrement s when copyi ng or faxi ng.
As a general rul e, before faxi ng, pl ease make sure t hat al l t ext i s l arge and cl ear, and
legible.
Mail
Mai l i ng your document at i on t hrough t he regul ar
post al servi ce i s al so a choi ce, but pl ease keep i n
mi nd t hat t he processi ng t i me for approval of t he
account may t ake l onger t han i f sendi ng by emai l or
fax.
38 Main Highway
El l ersl i e
Auckland

Should you have any questions, please send us an email addressed to Andrew. gi bbs@st rat cap. co. nz
For m W-8BEN
(Rev. February 2006)
Depar t ment of t he Tr easur y
Internal Revenue Service
Certificate of Foreign Status of Beneficial Owner
for United States Tax Withholding
Section References are to the Internal Revenue Code. See separate instructions.
Give this form to the withholding agent or payer. Do not send to the IRS.
OMB No. 1545-1621
Do not use this form for: Instead, use Form:
A U.S. citizen or other U.S. person, including a resident alien individual................................................. ........................................W- 9
A person cl ai mi ng t hat i ncome i s effect i vel y connect ed wi t h t he conduct
of a trade or business in the United States.............................................................................................. ..................................W-8ECI
A forei gn part nershi p, a forei gn si mpl e t rust , or a forei gn grant or t rust (see i nst ruct i ons for except i ons). . . . ................W-8ECI or W-8IMY
A forei gn government , i nt ernat i onal organi zat i on, forei gn cent ral bank of i ssue, forei gn t ax-exempt
organi zat i on, forei gn pri vat e foundat i on, or government of a U. S. possessi on t hat recei ved effect i vel y
connected income or that isclaiming the applicability of section(s) 115(2), 501(c), 892, 895, or 1443(b)
(see instructions)..................................................................................................................................... ...............W-8ECI or W-8EXP
Note: These ent i t i es shoul d use Form W-8BEN i f t hey are cl ai mi ng t reat y benefi t s or are provi di ng t he form onl y t o cl ai m t hey are a forei gn
person exempt from backup wi t hhol di ng.
A person acting as an intermediary.......................................................................................................... ..................................W-8IMY
Note: See i nst ruct i ons for addi t i onal except i ons.

Part I Identification of Beneficial Owner (See instructions. )
1 Name of i ndi vi dual or organi zat i on t hat i s t he benefi ci al owner 2 Count ry of i ncorporat i on or organi zat i on
3 Type of beneficial owner: Individual Cor por at i on Di sregarded ent i t y Par t ner shi p Si mpl e t rust
Gr ant or t r ust Compl ex t r ust Est at e Gover nment Int ernat i onal organi zat i on
Cent ral bank of i ssue Tax- exempt or gani zat i on Pri vat e foundat i on
4 Permanent resi dence address (st reet , apt . or sui t e no. , or rural rout e). Do not use a P. O. box or i n-care-of address.
Ci t y or t own, st at e or provi nce. Incl ude post al code where appropri at e. Count ry (do not abbrevi at e)
5 Mailing address (if different from above)
Ci t y or t own, st at e or provi nce. Incl ude post al code where appropri at e. Count ry (do not abbrevi at e)
6 U. S. taxpayer identification number, if required (see instructions)
SSN or ITI EIN
7 Foreign tax identifying number, if any
(optional)
8 Reference number(s) (see i nst ruct i ons)

Part II Claim of Tax Treaty Benefits (if applicable)
9 I certify that (check all that apply):
a
The benefi ci al owner i s a resi dent of wi t hi n t he meani ng of t he i ncome t ax t reat y bet ween t he
Uni t ed St at es and t hat count ry.
b If required, the U. S. taxpayer identification number is stated on line 6 (see instructions).
c The beneficial owner is not an individual, derives the item (or items) of income for which the treaty benefits are claimed, and, if
appl i cabl e, meet s t he requi rement s of t he t reat y provi si on deal i ng wi t h l i mi t at i on on benefi t s (see i nst ruct i ons).
d The benefi ci al owner i s not an i ndi vi dual , i s cl ai mi ng t reat y benefi t s for di vi dends recei ved from a forei gn corporat i on or i nt erest
f r om a
U. S. t rade or busi ness of a forei gn corporat i on, and meet s qual i fi ed resi dent st at us (see i nst ruct i ons).
e The benefi ci al owner i s rel at ed t o t he person obl i gat ed t o pay t he i ncome wi t hi n t he meani ng of sect i on 267(b) or 707(b), and wi l l
file
Form 8833 i f t he amount subj ect t o wi t hhol di ng recei ved duri ng a cal endar year exceeds, i n t he aggregat e, $500, 000.
Pa g e 36 I B L L C Ac c o u n t Ap p lic a t io n f o r F in a n c ia l Ad v is o r Clie n t s ( Pr o p r ie t a r y T r a d in g G r o u p s ) - Se p 2 2 2 0 0 9
1 0Special rates and conditions (if applicablesee instructions): The beneficial owner is claiming the pr ovisions of Article
of t he t reat y i dent i fi ed on l i ne 9a above t o cl ai m a % rate of withholding on (specify
type of income): .
Expl ai n t he reasons t he benefi ci al owner meet s t he t erms of t he t reat y art i cl e:

Part III Claim of Tax Treaty Benefits (if applicable)
1 1 I have provi ded or wi l l provi de a st at ement t hat i dent i fi es t hose not i onal pri nci pal cont ract s from whi ch t he i ncome i s not
effectively
connect ed wi t h t he conduct of a t rade or busi ness in t he Uni t ed St at es. I agree t o updat e t hi s st at ement as requi red.

Part IV Certification
Under penal t i es of perj ury, I decl are t hat I have exami ned t he i nformat i on on t hi s form and t o t he best of my knowl edge and bel i ef i t i s t rue,
correct , and compl et e. I furt her cert i fy under penal t i es of perj ury t hat :
I am t he benefi ci al owner (or am aut hori zed t o si gn for t he benefi ci al owner) of al l t he i ncome t o whi ch t hi s form rel at es,
The beneficial owner is not a U. S. person,
The i ncome t o whi ch t hi s form rel at es i s (a) not effect i vel y connect ed wi t h t he conduct of a t rade or busi ness i n t he Uni t ed St at es, (b)
effect i vel y connect ed but i s not subj ect t o t ax under an i ncome t ax t reat y, or (c) t he part ner' s share of a part nershi p' s effect i vel y
connect ed i ncome, and
For broker t ransact i ons or bart er exchanges, t he benefi ci al owner i s an exempt forei gn person as defi ned i n t he i nst ruct i ons.
Furt hermore, I aut hori ze t hi s form t o be provi ded t o any wi t hhol di ng agent t hat has cont rol , recei pt , or cust ody of t he i ncome of whi ch I am
t he benefi ci al owner or any wi t hhol di ng agent t hat can di sburse or make payment s of t he i ncome of whi ch I am t he benefi ci al owner.
Sign Here Signature of beneficial owner (or individual authorized to sign for beneficial
owner)
Date (MM-DD-YYYY) Capacity in which acting
For Paperwork Reduction Act Notice, see separate instructions. Cat. No. 25047Z
For m W-8BEN (Rev. 2-2006)
Pa g e 37 I B L L C Ac c o u n t Ap p lic a t io n f o r F in a n c ia l Ad v is o r Clie n t s ( Pr o p r ie t a r y T r a d in g G r o u p s ) - Se p 2 2 2 0 0 9

IEIIEk OF DIkECIION FOk IkADIING SYSIEM CIIENIS

Ihi: :eclicn i: lc Le fi||ec in Ly c|ienl: whc reuire Slrclegic Ccpilc| Mcncgemenl lc
execule c lrccing :y:lem cn lheir Lehc|f. lf ycu cre p|ccing ycur cwn lrcce: eilher cn|ine
cr cver lhe phcne p|ec:e gc lc lhe nexl :eclicn.

Ic: Slrclegic Ccpilc| Mcncgemenl

Ihe uncer:ignec hereLy ccnfirm: lhcl l {we) hcve prcvicec ycu wilh c lrccing :y:lem c: :el fcrlh
Le|cw {referrec lc herein c: lhe Sy:lem") lhcl l eilher ceve|cpec my:e|f, purchc:ec frcm c lhirc
pcrly, cr receive Ly :uL:criplicn cr |ec:e. ln ccn:icerclicn cf ycur cccepling my ccccunl lhcl wi||
Le lrccec pur:ucnl lc lhe Sy:lem, l cckncw|ecge, repre:enl cnc cgree lc lhe fc||cwing lerm: cnc
ccncilicn::

1. 8y :igning Le|cw, l cirecl ycu cnc ycur firm lc enler crcer: in ccccrccnce wilh lhe :ignc|:
generclec Ly lhe Sy:lem. lf lhe Sy:lem i: c lrcce reccmmencclicn :ervice cr hcl|ine, l hcve
crrcngec fcr lhe criginclcr cf lhe :y:lem lc lrcn:mil Ly fcx, lcpe-reccrcec me::cge cr
clherwi:e, lhe lrccing :ignc|: cnc reccmmencclicn: lc Le execulec in my ccccunl. lf mcre
lhcn cne cf ycur c|ienl: i: u:ing lhe Sy:lem, l cgree lhcl ycu ccn L|cck crcer: lc enhcnce
lhe crcer execulicn, in which cc:e fi||: wi|| Le c||ccclec in ccccrccnce wilh c fcir cnc
:y:lemclic fi|| c||ccclicn melhcc emp|cyec Ly ycu. l uncer:lcnc cnc cckncw|ecge lhcl ycu
wi|| Le re:pcn:iL|e cn|y fcr u:ing ccmmercic||y rec:cncL|e effcrl: lc execule, in c lime|y
fc:hicn, :ignc|: generclec Ly lhe Sy:lem cnc ccluc||y receivec Ly ycu. Ycu :hc|| ncl Le
re:pcn:iL|e fcr mechcnicc| cr ccmmunicclicn |ine fci|ure: cr Sy:lem errcr:, cr cny clher errcr
Leycnc ycur ccnlrc|. l cckncw|ecge lhcl ycu ccn cccepl cnc lrcn:mil crcer: cn|y if
ccluc||y receivec cr generclec, cnc lhen cn c ncl-he|c" Lc:i:. {l.e., ycu :hc|| ncl Le
re:pcn:iL|e fcr lhe execulicn cf lhe crcer: cl price: incicclec cr clherwi:e).

2. l fu||y uncer:lcnc lhcl lhe lrccing :ignc|: cnc reccmmencclicn: cre prccucec Ly lhe
Sy:lem, cnc ncl Ly ycu cr ycur firm, cnc lhcl ycur cn|y re:pcn:iLi|ily i: lc u:e ccmmercic||y
rec:cncL|e effcrl: lc enler crcer: pur:ucnl lc lhe :ignc|: cnc reccmmencclicn: generclec
Ly lhe Sy:lem c: ccluc||y receivec Ly ycu. l repre:enl cnc wcrrcnl lhcl l hcve mcce
inuirie: cnc ccncuclec re:ecrch inlc lhe Sy:lem :ufficienl lc mcke cn infcrmec inve:lmenl
ceci:icn. Ycu hcve ncl cnc ccnncl imp|y cr gucrcnlee lhcl l wi|| mcke c prcfil frcm lrccing
lhe Sy:lem cnc l cgree lhcl ycu wi|| ncl Le he|c re:pcn:iL|e fcr lhe Sy:lem: perfcrmcnce cr
lrccing |c::e: in my ccccunl. l furlher uncer:lcnc lhcl l remcin re:pcn:iL|e fcr lhe ceci:icn
lc u:e lhe Sy:lem cnc fcr lhe lrccing ceci:icn: in my ccccunl. 8y :igning lhi: Leller cf
Direclicn l hcve not grcnlec lc ycu cr ycur firm pcwer-cf-cllcrney cr ci:crelicncry culhcrily
lc lrcce lhe ccccunl. Ihi: i: not c ci:crelicncry ccccunl. Ycur cn|y culhcrily i: lc enler
crcer: pur:ucnl lc lhe :ignc|: cnc reccmmencclicn: generclec Ly lhe Sy:lem c: ccluc||y
receivec Ly ycu.

3. Ycu mcy enler lrcce: c: cireclec in lhi: Leller cf Direclicn unli| l revcke lhi: culhcrily Ly
wrillen nclice cccre::ec cnc ccluc||y ce|iverec lc ycu. l uncer:lcnc lhcl lhi: i: :c|e|y my
re:pcn:iLi|ily lc nclify ycu if l wi:h lc enc lhe culcmclic lrccing ccne fcr my ccccunl
pur:ucnl lc lhi: Leller cf Direclicn. l :hc|| Le re:pcn:iL|e fcr cny cpen pc:ilicn: in my
ccccunl cl lhe lime lhcl l revcke lhe culhcrily. l cgree lc incemnify ycu fcr ccling in
ccccrccnce wilh lhi: Leller cf Direclicn. /|| lerm: cr cgreemenl: in lhi: Leller cf Direclicn
:hc|| Le ccn:lruec lc Le ccn:i:lenl wilh lhe Cu:lcmer /greemenl l :ignec lc cpen my
ccccunl. lf cny lerm cr cgreemenl ccnlcinec in lhi: Leller cf Direclicn :hc|| Le fcunc lc Le
inccn:i:lenl wilh c lerm cr cgreemenl ccnlcinec in lhe Cu:lcmer /greemenl, lhe Cu:lcmer
/greemenl :hc|| prevci| cver lhi: Leller cf Direclicn.

Page 38
4. Ihe effeclive ccle cf lhi: Leller cf Direclicn :hc|| Le lhe ccle cf ccceplcnce Ly ycu. Ihi:
Leller cf Direclicn :hc|| ncl Le ceemec lc Le ccceplec cr hcve cny Lincing effecl un|e::
cnc unli| il i: :ignec Ly ycu.

5. l, lhe uncer:ignec, hereLy culhcrize lnlercclive 8rcker: cnc Slrclegic Ccpilc| Mcncgemenl
lc ceLil mcnlh|y :y:lem venccr chcrge:, if cny, c: Li||ec Ly lhe lhirc pcrly venccr frcm my
lrccing ccccunl numLer he|c Ly lhem. lnlercclive 8rcker: cnc Slrclegic Ccpilc|
Mcncgemenl :hc|| Le enlil|ec lc re|y ccnc|u:ive|y cn cny invcice: receivec frcm lhe lhirc
pcrly wilh re:pecl lc pcymenl: cnc cmcunl: fcr :uch fee:. l furlher incemnify lhe
lnlercclive 8rcker: cnc Slrclegic Ccpilc| Mcncgemenl cgcin:l cny cclicn cri:ing cul cf
pcymenl cf :uch fee:. Nclice cf ceLl mcce lc my ccccunl fcr lhe cLcve purpc:e :hc|| Le
furni:hec prcmpl|y lc me.




Sincere|y,



_______________________________ _____________________________
Cu:lcmer: Signclure Jcinl Cwner: Signclure


_______________________________ _____________________________
Cu:lcmer: Ncme {prinl) Jcinl Cwner: Ncme

Dcle: Dcle:


Ncme cf Sy:lem: {F|ec:e Iick lhe cne: ycu cre lrccing)






Ncme cf Sy:lem: ccnlccl per:cn: Slrclegic Ccpilc| Mcncgemenl

Ie|ephcne numLer cf Sy:lem: Ccnlccl per:cn: 00-{4) 525-511

Ncme cf /cccunl Execulive: /ncrew GiLL:

/CCEFIED:




_________________________________
Dcle
Page 39
/ckncw|ecgemenl cnc Execulicn Fcrm

Ihe ccccunl hc|cer hereLy cckncw|ecge: lhcl:
1. l/We hcve recc lhe lerm: cnc ccncilicn: cf lhi:
cgreemenl cnc uncer:lcnc lhe ri:k: invc|vec wilh
cpening cn ccccunl: {p|ec:e lick)
Ihe /cvi:cr: Di:c|c:ure Slclemenl {pcge 12)
Ihe Fi:k Di:c|c:ure Slclemenl {pcge 7)
Ihe Generc| Ierm: cnc Ccncilicn: {pcge 7-12)
lncivicuc||y Mcncgec /cccunl Frccucl Di:c|c:ure
Slclemenl {if cpp|iccL|e) {FDS cllcchec)
2. l/We hcve cppcinlec Slrclegic Ccpilc| Mcncgemenl c:
inlrccucing Lrcker fcr lnlercclive 8rcker:, MF G|cLc| cr
/llcin Ccpilc| c: my/cur cgenl fcr execulicn cf
lrcce:/cec|ing in /SX euilie:, inlernclicnc| euilie: cnc
cerivclive: in ccccrccnce wilh lhi: cgreemenl
3. Slrclegic Ccpilc| Mcncgemenl i: regu|clec c: per lhe
inlrccucing Lrcker ru|e: i::uec Ly lhe NZX. Ihe NZX cce:
ncl prcvice regu|clcry funclicn: fcr ncn NZX euilie: cr
ccnlrccl: lhcl cre ncl ccn:icerec lc Le fulure: cr
cplicn: uncer NZX inlrccucing Lrcker cefinilicn: c:
cefinec in lhe Securilie: Mcrkel /cl 188
4. ln ccmp|icnce wilh lhe Frivccy /cl 13:
c. Slrclegic Ccpilc| Mcncgemenl my uli|ize
infcrmclicn cLcul me/u: cr if cpp|iccL|e lhe
cireclcr:, pcrlner: cr lru:lee: lc :lcff cf Slrclegic
Ccpilc| Mcncgemenl fcr lhe purpc:e: cf
cpercling my ccccunl, execuling lrcce: cn my
ccccunl cr fcr ccmp|ying wilh cur |egc|
cL|igclicn:
L. Ihi: infcrmclicn mcy Le prcvicec lc :ervice
prcvicer: cf my ccccunl cnc mcy Le u:ec fcr
lhe purpc:e: cn my ccccunl
c. Slrclegic Ccpilc| Mcncgemenl i: culhcrizec lc
ci:c|c:e cny cf my infcrmclicn lc lhe NZX in crcer
lc fu|fi|| il: cL|igclicn: lc lhe NZX
c. lf lhe infcrmclicn Slrclegic Ccpilc| Mcncgemenl
reuire: i: ncl prcvicec Slrclegic Ccpilc|
Mcncgemenl mcy c|c:e cr :u:penc my ccccunl
e. Slrclegic Ccpilc| Mcncgemenl relcin: cnc
reccrc: c|| le|ephcne ccnver:clicn: cnc reccrc:
fcr verificclicn, cucil cnc lrcining purpc:e:
f. Slrclegic Ccpilc| Mcncgemenl mcy uli|ize my
infcrmclicn cr prcvice my infcrmclicn lc ceLl
reccvery cgencie: fcr lhe purpc:e: cf ceLl
reccvery
5. l/We cckncw|ecge lhcl lhe celci|: prcvicec wilh lhi:
cpp|icclicn in re|clicn lc cur celci|:, inc|ucing per:cnc|
fincncic| infcrmclicn cnc |eve| cf experience in
:ecurilie: mcrkel: i: lrue, fu|| cnc ccmp|ele. l wi|| prcvice
lc Slrclegic Ccpilc| Mcncgemenl wilh chcnge: lc:
1. My Fer:cnc| Fincncic| lnfcrmclicn
2. My lc|ercnce fcr ri:k
3. l cckncw|ecge lhcl if lhe infcrmclicn l hcve
prcvicec i: inccn:i:lenl cr inccmp|ele lhcl lhe
inve:lmenl ccvice l receive wi|| Le cffeclec
ccccrcing|y
4. l wi|| prcvicec cny upccle: lc my cccre:: cnc
ccnlccl celci|: cr chcnge: lc lhe ccmpcny
:lruclure
. l/We :hc|| cLlcin incepencenl ccvice where :uilcL|e in
re|clicn lc my inve:lmenl: cnc lc lhe :uilcLi|ily cf
lrccing lc my incivicuc| fincncic| circum:lcnce:

Dcle / /

App||cont 1.
Ncme:
Fc:ilicn {if cpp|iccL|e):
Signclure:

SlGN HEFE
________________________________________________________

App||cont 2.
Ncme:
Fc:ilicn {if cpp|iccL|e):
Signclure:

SlGN HEFE
______________________________________________________

App||cont 3.
Ncme:
Fc:ilicn {if cpp|iccL|e):
Signclure:

SlGN HEFE
_______________________________________________________

FOk OFFICE bSE ONIY
Ihe :ignclcry Le|cw ccnfirm: lhcl lhey hcve exp|cinec lhe
generc| lerm: cnc ccncilicn:, c|cng wilh lhe ri:k: cul|inec in
lhe ri:k ci:c|c:ure cccumenl cnc prcvicec cn inve:lmenl
ccvi:cr ci:c|c:ure :lclemenl lc lhe /cccunl Hc|cer.

Ncme:
Fc:ilicn {if cpp|iccL|e):
Signclure:

SlGN HEFE
_______________________________________________________


FlSK DlSCLCSUFE SI/IEMENI
Page 40

The risk of loss in trading in Futures Contracts can be substantial. You should therefore carefully consider whether that kind of
trading is appropriate for you in the light of your financial circumstances. In deciding whether or not you will become
involved in that kind of trading, you should be aware of the following matters:

(a) you could sustain a total loss of the initial margin funds that you deposit with your Futures Firm to establish or
maintain a position in a Futures and Options Exchange or Off-Exchange;

(b) if the market price moves against your position, you may be required, at short notice, to deposit with your Futures
Firm additional margin funds in order to maintain your position. Those additional funds may be substantial. If you
fail to provide those additional funds within the required time, your position may be liquidated at a loss and in that
event you will be liable for any shortfall in your account resulting from that failure;

(c) under certain conditions, it could become difficult or impossible for you to liquidate a position (this can, for example,
happen when there is a significant change in prices over a short period);

(d) the placing of contingent orders (such as a "stop-loss" order) may not always limit your losses to the amounts that
you may want. Conditions may make it impossible to execute such orders;

(e) a "spread" position is not necessarily less risky than simply "long" or "short" position;

(f) the high degree of leverage that is obtainable in trading Futures Contracts, because of small margin requirements,
can work against you as well as for you. The use of leverage can lead to large losses as well as large gains; and

(g) if you propose to trade in options, the maximum loss in buying an option is the amount of the premium, but the risks
in selling an option are the same as in other Futures Contracts.

This statement does not disclose all of the risks and other significant aspects involved in trading Futures Contracts on a Futures
and Options Exchange or Off-Exchange. You should therefore study trading in Futures Contracts carefully before becoming
involved in it.

GENERAL TERMS & CONDITIONS:

1. Application of Rules

You acknowledge and Strategic Capital Management agree that the terms of their relationship in respect of
futures and options contracts (Futures Contracts) and any dealings between them concerning Futures Contracts
are subject to, and are bound by:
(a) the Securities Markets Act 1988 and any other legislation applicable to Futures Contracts;
(b) the NZX Futures and Options Rules;
(c) in the case of Futures Contracts traded on a Futures and Options Exchange, the rules and regulations of
the Futures and Options Exchange that trades the relevant Futures Contracts;
(d) in the case of Futures and Options Contracts traded Off-Exchange, the terms and conditions governing
the relevant Futures Contract;
(e) this Client Agreement;
(f) the Post Trade Agreement (if any); and
(g) the Client Funds Regulations,

in so far as they apply to Futures Contracts.

2. Client to Provide Information

You acknowledge and must take all reasonable steps to deliver information or documentation to Strategic Capital
Management, or cause information or documentation to be delivered to Strategic Capital Management
concerning Futures Contracts which are requested by a person having a right to request such information or
documentation. Strategic Capital Management is authorised to produce the information or documentation to the
person making the request.

3. Risk and Financial Objectives

3.1 You acknowledge that you have read and understood:
(a) the attached Client Acknowledgement and Risk Disclosure Statement;

Page 41
{L) lhe cccumenl given lc ycu which exp|cin: lhe nclure cf Fulure: Ccnlrccl:: cnc
{c) celci|: cf lhe ccnlrccl :pecificclicn: cf Fulure: Ccnlrccl: in which Slrclegic Ccpilc| Mcncgemenl wi|| cec|
cn Lehc|f cf lhe C|ienl.
3.2 Ycu cckncw|ecge lhcl lrccing in Fulure: Ccnlrccl: incur: c ri:k cf |c:: c: we|| c: c pclenlic| fcr prcfil, cnc mcy
crecle cn cL|igclicn lc give cr lcke ce|ivery, cr mcke c cc:h ccju:lmenl, in ccccrccnce wilh lhe lerm: cf c Fulure:
Ccnlrccl.
3.3 Ycu cckncw|ecge lhcl ycu hcve given ccrefu| ccn:icerclicn lc ycur cLjeclive:, fincncic| :iluclicn cnc neec: cnc
hcve fcrmec lhe cpinicn lhcl cec|ing in Fulure: Ccnlrccl: i: :uilcL|e fcr ycur purpc:e:.
3.4 Ycu cckncw|ecge lhcl Slrclegic Ccpilc| Mcncgemenl hc: exp|cinec cnc ycu uncer:lccc Slrclegic Ccpilc|
Mcncgemenl: /||ccclicn Fc|icy.

4. Nclure cf Slrclegic Ccpilc| Mcncgemenl: cL|igclicn: cnc ycur righl: c: c C|ienl

4.1 Slrclegic Ccpilc| Mcncgemenl mcy cec| in Fulure: Ccnlrccl: c: principc| cn il: cwn ccccunl cnc Slrclegic Ccpilc|
Mcncgemenl: cireclcr:, pcrlner: cr emp|cyee: mcy cec| in Fulure: Ccnlrccl: cn lheir cwn ccccunl.
4.2 Upcn p|ccing c Fulure: Crcer wilh cn Execuling Fcrlicipcnl {which mcy cr mcy ncl Le Slrclegic Ccpilc|
Mcncgemenl), ycu cckncw|ecge lhcl lnlercclive 8rcker:, MF G|cLc| cr /llcin Ccpilc| incur: cL|igclicn: c: principc|, even
lhcugh lhe Fulure: Ccnlrccl mcy hcve Leen enlerec inlc cn ycur in:lruclicn:.
4.3 Slrclegic Ccpilc| Mcncgemenl i: ncl reuirec lc ccl in ccccrccnce wilh ycur in:lruclicn:, where lc cc :c wcu|c
ccn:lilule c Lrecch cf:
{c) lhe Securilie: Mcrkel: /cl 188 cr cny clher |egi:|clicn cpp|iccL|e lc Fulure: Ccnlrccl::
{L) lhe NZX Fulure: cnc Cplicn: Fu|e::
{c) in lhe cc:e cf Fulure: Ccnlrccl: lrccec cn c Fulure: cnc Cplicn: Exchcnge, lhe ru|e: cnc regu|clicn: cf lhe Fulure:
cnc Cplicn: Exchcnge lhcl lrcce: lhe re|evcnl Fulure: Ccnlrccl::
{c) in lhe cc:e cf Fulure: cnc Cplicn: Ccnlrccl: lrccec Cff-Exchcnge, lhe lerm: cnc ccncilicn: gcverning lhe re|evcnl
Fulure: Ccnlrccl:
{e) lhi: C|ienl /greemenl:
{f) lhe Fc:l Ircce /greemenl {if cny): cnc
{g) lhe C|ienl Func: Fegu|clicn:,

in :c fcr c: lhey cpp|y lc Fulure: Ccnlrccl:.

5. Fulure: cnc Cplicn: Fcrlicipcnl lcking cppc:ile pc:ilicn

Ihe C|ienl cckncw|ecge: lhcl Slrclegic Ccpilc| Mcncgemenl mcy, in cerlcin circum:lcnce:, lcke lhe cppc:ile pc:ilicn in c
Fulure: Ccnlrccl, eilher ccling fcr cnclher c|ienl cr cn il: cwn ccccunl.

. LicLi|ily fcr mcrgin cc||:

.1 LicLi|ily lc pcy cn inilic| mcrgin cccrue: cl lhe lime lhe Fulure: Ccnlrccl i: execulec regcrc|e:: cf when c cc|| i:
mcce.
.2 LicLi|ily lc pcy c vcriclicn mcrgin cccrue: cl lhe lime lhe mcrgin ccme: inlc exi:lence, regcrc|e:: cf when c cc|| i:
mcce.

7. Defcu|l
lf:
{c) Ycu fci| lc pcy, cr prcvice :ecurily fcr, cmcunl: pcycL|e lc Slrclegic Ccpilc| Mcncgemenl cr fci|: lc perfcrm cny
cL|igclicn cri:ing pur:ucnl lc lhe :ell|emenl cf c Fulure: Ccnlrccl:
{L) c gucrcnlee cr clher :ecurily prcvicec Ly lhe C|ienl lc Slrclegic Ccpilc| Mcncgemenl i: wilhcrcwn cr Leccme:
ineffeclive: cr
{c) cny clher evenl cccur: which Slrclegic Ccpilc| Mcncgemenl cnc ycu {lhe C|ienl) hcve cgreec in lhe C|ienl
/greemenl enlil|e: Slrclegic Ccpilc| Mcncgemenl lc lcke cclicn uncer lhi: c|cu:e 7, Slrclegic Ccpilc|
Mcncgemenl mcy, in cccilicn lc cny clher righl: which il mcy hcve cgcin:l ycu {lhe C|ienl), wilhcul giving pricr
nclice lc ycu {lhe C|ienl), lcke cny cclicn, cr refrcin frcm lcking cclicn, which il ccn:icer: rec:cncL|e in lhe
circum:lcnce in ccnneclicn wilh Fulure: Ccnlrccl: enlerec inlc fcr ycu {lhe C|ienl) {inc|ucing, wilhcul |imilclicn,
cpen pc:ilicn: cri:ing frcm Fulure: Ccnlrccl:) cnc, wilhcul |imilclicn, Slrclegic Ccpilc| Mcncgemenl mcy:
{c) enler inlc cne cr mcre lrcn:cclicn: lc effecl lhe c|c:e cul cf cne cr mcre cpen pc:ilicn: in ccccrccnce wilh lhe
ru|e: cnc regu|clicn: cf lhe Fulure: cnc Cplicn: Exchcnge cn which lhc:e Fulure: Ccnlrccl: cre lrccec:
{e) exerci:e cne cr mcre Fulure: Ccnlrccl: lhcl cre cplicn: in ccccrccnce wilh lhe ru|e: cnc regu|clicn: cf lhe Fulure:
cnc Cplicn: Exchcnge cn which lhc:e Fulure: Ccnlrccl: lhcl cre cplicn: cre lrccec: cr
{f) exerci:e cny clher righl: ccnferrec Ly lhe NZX Fulure: cnc Cplicn: Fu|e:, ru|e: cnc regu|clicn: cf lhe Fulure: cnc
Cplicn: Exchcnge cn which lhc:e Fulure: Ccnlrccl: cre lrccec, lhe lerm: cnc ccncilicn: gcverning c Fulure:
Ccnlrccl lrccec Cff-Exchcnge cr lhe C|ienl /greemenl cr perfcrm cny clher cL|igclicn: cri:ing uncer lhe NZX
Page 42
Fulure: cnc Cplicn: Fu|e:, ru|e: cnc regu|clicn: cf lhe Fulure: cnc Cplicn: Exchcnge cn which lhc:e Fulure:
Ccnlrccl: cre lrccec, lhe lerm: cnc ccncilicn: gcverning c Fulure: Ccnlrccl lrccec Cff-Exchcnge cr lhe C|ienl
/greemenl in re:pecl cf lhc:e Fulure: Ccnlrccl:, cnc lhe C|ienl mu:l ccccunl lc Slrclegic Ccpilc| Mcncgemenl c:
if lhc:e cclicn: were lcken cn lhe in:lruclicn cf lhe C|ienl cnc, wilhcul |imilclicn, i: |icL|e fcr cny ceficiency cnc i:
enlil|ec lc cny :urp|u: which mcy re:u|l.

8. Ccmmi::icn: cnc fee:

Ycu {Ihe C|ienl) mu:l pcy lc Slrclegic Ccpilc| Mcncgemenl ccmmi::icn:, fee:, lcxe: cnc chcrge: in ccnneclicn
wilh cec|ing in Fulure: Ccnlrccl: fcr ycu {lhe C|ienl) cl lhe rcle: celerminec Ly Slrclegic Ccpilc| Mcncgemenl
frcm lime lc lime cnc nclifiec lc ycu {lhe C|ienl) in wriling frcm lime lc lime.

. Icpe reccrcing cf ccnver:clicn:

Ycu {Ihe C|ienl) cckncw|ecge lhcl Slrclegic Ccpilc| Mcncgemenl mcy reccrc le|ephcne ccnver:clicn: Lelween
ycu {lhe C|ienl) cnc Slrclegic Ccpilc| Mcncgemenl. lf lhere i: c ci:pule cr cnlicipclec ci:pule Lelween ycu {lhe
C|ienl) cnc Slrclegic Ccpilc| Mcncgemenl, ycu {lhe C|ienl) hc: lhe righl lc |i:len lc cny reccrcing cf lhc:e
ccnver:clicn:.

10. Fighl lc refu:e lc cec|

Ycu cckncw|ecge lhcl Slrclegic Ccpilc| Mcncgemenl mcy cl cny lime refu:e lc enler inlc c Fulure: Ccnlrccl fcr
ycu {lhe C|ienl), cr mcy |imil lhe Fulure: Ccnlrccl: il enler: inlc fcr ycu {lhe C|ienl). Slrclegic Ccpilc| Mcncgemenl
wi|| nclify ycu {lhe C|ienl) cf cny refu:c| cr |imilclicn c: :ccn c: prccliccL|e.

11. Ierminclicn cf C|ienl /greemenl

Eilher ycu {lhe C|ienl) cr Slrclegic Ccpilc| Mcncgemenl mcy lermincle lhi: C|ienl /greemenl Ly giving nclice in
wriling lc lhe clher. Ierminclicn wi|| Le effeclive upcn receipl cf lhe nclice Ly lhe clher pcrly.

12. Effecl cf lerminclicn

Ierminclicn cce: ncl cffecl lhe exi:ling righl: cnc cL|igclicn: cf ycu {lhe C|ienl) cr Slrclegic Ccpilc| Mcncgemenl
cl lerminclicn. Upcn lerminclicn cf lhi: C|ienl /greemenl, Slrclegic Ccpilc| Mcncgemenl wi|| c|c:e cul c|| Fulure:
Ccnlrccl: cnc c|c:e cul, cLcnccn cr exerci:e cny cplicn: Fulure: Ccnlrccl: ncl yel exerci:ec, enlerec inlc Ly
Slrclegic Ccpilc| Mcncgemenl fcr lhe C|ienl, un|e::, in ccccrccnce wilh c cireclicn frcm ycu {lhe C|ienl), lhc:e
ccnlrccl: cre lrcn:ferrec lc cnclher Fulure: cnc Cplicn: Fcrlicipcnl in ccccrccnce wilh lhe NZX Fulure: cnc
Cplicn: Fu|e:.

13. Segregclicn cf c|ienl func: cnc prcperly

13.1 Slrclegic Ccpilc| Mcncgemenl cce: ncl hc|c c|ienl func: c: lhe:e cre he|c cirecl|y wilh lnlercclive 8rcker:, MF
G|cLc| cr /llcin Ccpilc|. Slrclegic Ccpilc| Mcncgemenl hc: |cckec inlc cnc ccnfirmec lhcl c|| mcney cnc
prcperly cepc:ilec wilh lnlercclive 8rcker:, MF G|cLc| cr /llcin Ccpilc| cr receivec Ly lnlercclive 8rcker:, MF
G|cLc| cr /llcin Ccpilc| cn Lehc|f cf ycu lhe C|ienl wi|| Le :egregclec Ly lnlercclive 8rcker:, MF G|cLc| cr /llcin
Ccpilc| in ccccrccnce wilh lhe NZX Fulure: cnc Cplicn: Fu|e: cnc lhe C|ienl Func: Fegu|clicn:.
13.2 Ycu cckncw|ecge lhcl il: mcnie: cnc lhe mcnie: cf clher c|ienl: cf lnlercclive 8rcker:, MF G|cLc| cr /llcin Ccpilc|
wi|| Le ccmLinec cnc cepc:ilec Ly lnlercclive 8rcker:, MF G|cLc| cr /llcin Ccpilc| in c c|ienl: :egregclec
ccccunl. Ycu {Ihe C|ienl) cckncw|ecge lhcl c|| mcney: crecilec lc ycur :egregclec ccccunl mcinlcinec Ly
lnlercclive 8rcker:, MF G|cLc| cr /llcin Ccpilc| mcy Le u:ec Ly lhe Fcrlicipcnl lc meel lhe cefcu|l cf cny c|ienl cf
lnlercclive 8rcker:, MF G|cLc| cr /llcin Ccpilc|.

FFCVlSlCNS FELEV/NI FCF FUIUFES /ND CFIlCNS F/FIlClF/NIS IH/I /FE NCI /CCEFIlNG /ND HCLDlNG CLlENI FUNDS

14. C|ienl Func:

14.1 SuLjecl cn|y lc lhe exceplicn prcvicec in c|cu:e 14.2:
{c) Ycu lhe C|ienl wi|| ncl cepc:il cny mcney cr prcperly wilh Slrclegic Ccpilc| Mcncgemenl, inc|ucing
wilhcul |imiling lhe generc|ily cf lhe fcregcing, cny cmcunl cue fcr mcrgin: cr ccmmi::icn: cnc
{L) c|| mcney cr prcperly :hc|| Le cepc:ilec wilh Interoct|ve 8rokers, MF G|obo| or Atto|n Cop|to| cr c c|ecring
pcrlicipcnl cf c Fulure: cnc Cplicn: Exchcnge upcn which ycur {lhe C|ienl:) Fulure: cnc Cplicn:
Ccnlrccl: cre lrccec lhcl lnlercclive 8rcker:, MF G|cLc| cr /llcin Ccpilc| hc: cn cgreemenl wilh fcr lhe
cepc:il cf :uch C|ienl Func:].
14.2 Ycu {Ihe C|ienl) mcy eilher:
Page 43
{c) |ccge cheue: wilh Slrclegic Ccpilc| Mcncgemenl wilh re:pecl lc ycur {lhe C|ienl:) cL|igclicn:, :uch cheue: lc
Le crc::ec wilh lwc pcrc||e| lrcn:ver:e |ine: wilh lhe wcrc: ncl lrcn:ferrcL|e ccccunl pcyee cn|y Lelween, cr
:uL:lcnlic||y Lelween, lhe |ine: cnc lc Le mcce pcycL|e lc Interoct|ve 8rokers, MF G|obo| or Atto|n Cop|to| cr c
c|ecring pcrlicipcnl cf c Fulure: cnc Cplicn: Exchcnge upcn which lhe C|ienl: Fulure: cnc Cplicn: Ccnlrccl: cre
lrccec lhcl lnlercclive 8rcker:, MF G|cLc| cr /llcin Ccpilc| hc: cn cgreemenl wilh fcr cepc:il cf :uch C|ienl
Func:]: c|ienl func: ccccunl: cr
{L) ce|iver cheue: lc Interoct|ve 8rokers, MF G|obo| or Atto|n Cop|to| cr c c|ecring pcrlicipcnl cf c Fulure: cnc Cplicn:
Exchcnge upcn which lhe C|ienl: Fulure: cnc Cplicn: Ccnlrccl: cre lrccec lhcl lnlercclive 8rcker:, MF G|cLc| cr
/llcin Ccpilc| hc: cn cgreemenl wilh fcr lhe cepc:il cf :uch C|ienl Func:] cl il: cccre:: cr crecil lhem cirecl|y lc
lnlercclive 8rcker:, MF G|cLc| cr /llcin Ccpilc|: Lcnk ccccunl in c mcnner cgreec Lelween lnlercclive 8rcker:,
MF G|cLc| cr /llcin Ccpilc| cnc lhe C|ienl.

FFCVlSlCNS FELEV/NI FCF FUIUFES /ND CFIlCNS F/FIlClF/NIS IH/I /FE FL/ClNG FUIUFES CFDEFS DlFECILY WlIH
EXECUIlNG F/FIlClF/NIS

15. /ppcinlmenl

Ycu {Ihe C|ienl) cckncw|ecge lhcl il hc: cppcinlec Slrclegic Ccpilc| Mcncgemenl c: ycur {lhe C|ienl:) cgenl fcr
lhe purpc:e: cf cec|ing in Fulure: Ccnlrccl: cnc hc: Leen inlrccucec lc lnlercclive 8rcker:, MF G|cLc| cr /llcin
Ccpilc| Ly Slrclegic Ccpilc| Mcncgemenl.

1. Fe:pcn:iLi|ily fcr in:lruclicn: cnc lrccing

1.1 Slrclegic Ccpilc| Mcncgemenl wi|| Le re:pcn:iL|e fcr lhe giving cf in:lruclicn: cn Lehc|f cf ycu {lhe C|ienl) lc
lnlercclive 8rcker:, MF G|cLc| cr /llcin Ccpilc| cnc lnlercclive 8rcker:, MF G|cLc| cr /llcin Ccpilc| i: culhcri:ec lc
cccepl cnc ccl cn :uch in:lruclicn: cnc ycu {lhe C|ienl) i: re:pcn:iL|e fcr lhc:e in:lruclicn:.
1.2 lnlercclive 8rcker:, MF G|cLc| cr /llcin Ccpilc| i: re:pcn:iL|e fcr lrccing in Fulure: Ccnlrccl: cn Lehc|f cf lhe C|ienl
in ccccrccnce wilh ycur {lhe C|ienl:) in:lruclicn: given Ly Slrclegic Ccpilc| Mcncgemenl.

17. Nclure cf Fulure: cnc Cplicn: Fcrlicipcnl: cL|igclicn: cnc righl: cf C|ienl

17.1 /ny Lenefil cr righl cLlcinec Ly lnlercclive 8rcker:, MF G|cLc| cr /llcin Ccpilc| upcn regi:lrclicn cf c Fulure:
Ccnlrccl wilh lhe c|ecring hcu:e cf c Fulure: cnc Cplicn: Exchcnge c: c re:u|l cf lhe c::umplicn cf |icLi|ily cr c
gucrcnlee Ly lhcl c|ecring hcu:e, cr cny clher |egc| re:u|l, i: per:cnc| lc lnlercclive 8rcker:, MF G|cLc| cr /llcin
Ccpilc| cnc cce: ncl pc:: lc Slrclegic Ccpilc| Mcncgemenl cr lhe C|ienl.

18. Execuling Fcrlicipcnl mcy cc|| fcr func: cr :ecurily

18.1 Slrclegic Ccpilc| Mcncgemenl mcy cc|| fcr pcymenl cf mcney cr lhe prcvi:icn cf clher :ecurily which Slrclegic
Ccpilc| Mcncgemenl ccn:icer:, in il: cL:c|ule ci:crelicn, cpprcpricle in ccnneclicn wilh lhe cL|igclicn: incurrec
Ly Slrclegic Ccpilc| Mcncgemenl in re:pecl cf Fulure: Ccnlrccl: enlerec inlc fcr lhe ccccunl cf ycur:e|f {lhe
C|ienl), nclwilh:lcncing lhcl lnlercclive 8rcker:, MF G|cLc| cr /llcin Ccpilc| fcr lhe :cme Fulure: Ccnlrccl hc:
c|reccy mcce c cc|| fcr pcymenl cr lhe prcvi:icn cf clher :ecurily in re:pecl cf lhcl Fulure: Ccnlrccl. Ihe lime Ly
which ycu {lhe C|ienl) mu:l pcy cny cmcunl cc||ec cr prcvice :ecurily i: cf lhe e::ence cnc, if nc clher lime i:
:lipu|clec in lhe C|ienl /greemenl, ycu {lhe C|ienl) mu:l pcy lhe cmcunl:, cr prcvice lhe re|evcnl :ecurily, wilhin 24
hcur: cf lhe cc|| fcr pcymenl cr, where ycu {lhe C|ienl) i: ncl c re:icenl cr ccmici|ec in New Zec|cnc, wilhin 48
hcur:.

1. /gency re|clicn:hip

1.1 ln giving in:lruclicn: lc lnlercclive 8rcker:, MF G|cLc| cr /llcin Ccpilc| cn Lehc|f cf ycu {lhe C|ienl), Slrclegic
Ccpilc| Mcncgemnel ccl: c: cgenl fcr ycu {lhe C|ienl) cnc ncl c: cgenl fcr lnlercclive 8rcker:, MF G|cLc| cr /llcin
Ccpilc|. Slrclegic Ccpilc| Mcncgemenl hc: nc ccluc|, imp|iec cr c:len:iL|e culhcrily lc :peck cr ccl in cny
mcnner cn Lehc|f cf, cr c: cgenl fcr, lnlercclive 8rcker:, MF G|cLc| cr /llcin Ccpilc|.

20. Ccmmi::icn cnc fee:

20.1 Ycu {Ihe C|ienl) wi|| pcy lc lnlercclive 8rcker:, MF G|cLc| cr /llcin Ccpilc|, in cccilicn lc cny cmcunl pcycL|e lc
Slrclegic Ccpilc| Mcncgemenl uncer c|cu:e 8, ccmmi::icn cnc/cr mcncgemenl fee: cl lhe rcle: nclifiec Ly
lnlercclive 8rcker:, MF G|cLc| cr /llcin Ccpilc| lc ycu {lhe C|ienl) in wriling frcm lime lc lime.

20.2 lnlercclive 8rcker:, MF G|cLc| cr /llcin Ccpilc| mcy pcy lc Slrclegic Ccpilc| Mcncgemenl c prcpcrlicn cf lhe
ccmmi::icn cr clher fee: pcic Ly ycu {lhe C|ienl) lc lnlercclive 8rcker:, MF G|cLc| cr /llcin Ccpilc| in re:pecl cf
Fulure: Ccnlrccl: lrccec cn Lehc|f cf lhe C|ienl.

Page 44
23. lnlere:l cn C|ienl Func:

23.1 Un|e:: clherwi:e cgreec in wriling, ycu {lhe C|ienl) cckncw|ecge lhcl Slrclegic Ccpilc| Mcncgemenl i: enlil|ec lc
cny inlere:l cn mcney cnc prcperly cf ycu {lhe C|ienl) cepc:ilec wilh lnlercclive 8rcker:, MF G|cLc| cr /llcin Ccpilc| cnc
:egregclec cnc inve:lec Ly lnlercclive 8rcker:, MF G|cLc| cr /llcin Ccpilc|.

24. Mcney: pcycL|e Ly lnlercclive 8rcker:, MF G|cLc| cr /llcin Ccpilc|

24.1 lnlercclive 8rcker:, MF G|cLc| cr /llcin Ccpilc| mcy eilher:
{c) pcy cny mcney: cwing lc ycu {lhe C|ienl) cirecl|y lc ycu {lhe C|ienl) cl ycur {lhe C|ienl:) cccre::: cr
{L) pcy cny :uch mcney: inlc c Lcnk ccccunl cf which ycu {lhe C|ienl) i: lhe :c|e :ignclcry, celci|: cf which ccccunl
:hc|| Le given Ly lhe C|ienl cr Ly Slrclegic Ccpilc| Mcncgemenl lc lnlercclive 8rcker:, MF G|cLc| cr /llcin Ccpilc|
in wriling.

FFCVlSlCNS FELEV/NI IC DlSCFEIlCN/FY /CCCUNIS

25. /ulhcrily lc ccl

Ycu {lhe C|ienl) cckncw|ecge lhcl, :uLjecl lc cny |imilclicn: ccnlcinec in wriling {whereLy ycu {lhe C|ienl) |imil:
Slrclegic Ccpilc| Mcncgemenl: ci:crelicn Ly reference lc lhe mcrkel: lc Le lrccec, :ize cf cpen pc:ilicn, numLer
cf Fulure: Ccnlrccl: lc Le lrccec per ccy, lhe prcpcrlicn cf mcney cr prcperly |ccgec wilh Slrclegic Ccpilc|
Mcncgemenl lc Le u:ec fcr inilic| mcrgin: cnc clher |imilclicn: c: cgreec in wriling) Lelween ycu {lhe C|ienl) cnc
Slrclegic Ccpilc| Mcncgemenl, ycu {lhe C|ienl) culhcri:e: Slrclegic Ccpilc| Mcncgemenl lc lrcce in Ccnlrccl: cn
lhe Exchcnge cr cn cny clher exchcnge cr mcrkel, cl lhe cL:c|ule ci:crelicn cf Slrclegic Ccpilc| Mcncgemenl
cnc wilhcul furlher reference lc, cr cpprcvc| Ly, ycu {lhe C|ienl).

2. ln:lruclicn: cf C|ienl

2.1 Ycu mcy cl cny lime Ly wrillen nclice in:lrucl Slrclegic Ccpilc| Mcncgemenl lc:
{c) chcnge cny cf lhe |imilclicn: referrec lc in c|cu:e 33: cr
{L) lrcn:fer cny cpen pc:ilicn lc c ncn-ci:crelicncry ccccunl cf ycu {lhe C|ienl), prcvicec lhcl ycu hcve
|ccgec wilh lhe Slrclegic Ccpilc| Mcncgemenl c C|ienl /greemenl in which lhi: :eclicn re|cling lc
ci:crelicncry ccccunl: hc: Leen :lruck cul.
2.2 Giving in:lruclicn: pur:ucnl lc c|cu:e 34.1 mcy re:u|l in |c::e: lc lhe C|ienl.

SIF/IEGlC C/FlI/L M/N/GEMENI: lNIFCDUClNG 8FCKEF /GFEEMENI WlIH lNIEF/CIlVE 8FCKEFS, MF GLC8/L CF /II/lN
C/FlI/L CCNI/lNS IHE FCLLCWlNG:

Slrclegic Ccpilc| Mcncgemenl hc: enlerec inlc c Ircce /greemenl wilh lnlercclive 8rcker:, MF G|cLc| cr /llcin Ccpilc|,
which ccnlcin:, c: c minimum, lhe prcvi:icn: cul|inec Le|cw:

1. lnlercclive 8rcker:, MF G|cLc| cr /llcin Ccpilc| wi|| cccepl in:lruclicn: frcm Slrclegic Ccpilc| Mcncgemenl lc cec|
in Fulure: Ccnlrccl: cn Lehc|f cf C|ienl: cf Slrclegic Ccpilc| Mcncgemenl cnc lnlercclive 8rcker:, MF G|cLc| cr
/llcin Ccpilc| wi|| execule, cr in:lrucl lhirc per:cn: lc execule, lhc:e in:lruclicn:. lnlercclive 8rcker:, MF G|cLc| cr
/llcin Ccpilc| mcy c|:c cccepl in:lruclicn: cl cny lime cirecl frcm ycu {lhe C|ienl).

2. Slrclegic Ccpilc| Mcncgemenl wi|| ncl give cny in:lruclicn: lc lnlercclive 8rcker:, MF G|cLc| cr /llcin Ccpilc| cn
Lehc|f cf c C|ienl unli| lhcl C|ienl hc: given cr execulec c C|ienl /ckncw|ecgemenl: cnc Fi:k Di:c|c:ure Slclemenl
cnc c C|ienl /greemenl: in cn cpprcpricle fcrm wilh Slrclegic Ccpilc| Mcncgemenl cnc lnlercclive 8rcker:, MF
G|cLc| cr /llcin Ccpilc|, ccpie: cf which wi|| Le he|c Ly Slrclegic Ccpilc| Mcncgemenl cnc lnlercclive 8rcker:, MF
G|cLc| cr /llcin Ccpilc|.

3. lnlercclive 8rcker:, MF G|cLc| cr /llcin Ccpilc|, Slrclegic Ccpilc| Mcncgemenl cnc ecch C|ienl wi|| Le Lcunc Ly
lhe prcvi:icn: cf lhe NZX Fulure: cnc Cplicn: Fu|e: cnc lhe ru|e: cnc regu|clicn: cf cny Fulure: cr Cplicn: Exchcnge
cn which cny cec|ing fcr lhcl C|ienl lcke: p|cce, cr lhe lerm: cnc ccncilicn: gcverning c Fulure: Ccnlrccl lrccec
Cff-Exchcnge.

4. Slrclegic Ccpilc| Mcncgemenl wi|| Le ccling uncer lhi: cgreemenl c: cgenl cf ecch C|ienl cnc ncl cf lnlercclive
8rcker:, MF G|cLc| cr /llcin Ccpilc| cnc Slrclegic Ccpilc| Mcncgemenl wi|| ncl hc|c il:e|f cul c: cgenl, pcrlner cr
repre:enlclive cf lnlercclive 8rcker:, MF G|cLc| cr /llcin Ccpilc| cr c: culhcri:ec lc :peck cr ccl in cny mcnner cn
Lehc|f cf, cr c: cgenl cf, lnlercclive 8rcker:, MF G|cLc| cr /llcin Ccpilc|.

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5. Where lhere i: cny inccn:i:lency Lelween lhe in:lruclicn: given Ly Slrclegic Ccpilc| Mcncgemenl cnc lhc:e given
Ly c C|ienl, lnlercclive 8rcker:, MF G|cLc| cr /llcin Ccpilc| i: enlil|ec lc cccepl cnc ccl cn lhe in:lruclicn: cf lhcl
C|ienl.

. Where lnlercclive 8rcker:, MF G|cLc| cr /llcin Ccpilc| in:lrucl: lhirc per:cn: lc cec| in Fulure: Ccnlrccl: cn Lehc|f
cf c C|ienl, lnlercclive 8rcker:, MF G|cLc| cr /llcin Ccpilc| mcy :hcre c|| ccmmi::icn cnc clher remunerclicn wilh
lhc:e per:cn: in :uch mcnner c: lnlercclive 8rcker:, MF G|cLc| cr /llcin Ccpilc| lhink: fil.

7. lnlercclive 8rcker:, MF G|cLc| cr /llcin Ccpilc| wi|| pcy Slrclegic Ccpilc| Mcncgemenl ccmmi::icn cn c|| Lu:ine::
lrcn:cclec Ly lnlercclive 8rcker:, MF G|cLc| cr /llcin Ccpilc| fcr ecch C|ienl in ccccrccnce wilh lhi: cgreemenl,
cl :uch rcle cr rcle: c: mcy frcm lime lc lime Le cgreec upcn Ly lhe pcrlie:. Such ccmmi::icn :hc|| Le pcycL|e
cn|y cul cf cny ccmmi::icn ccluc||y receivec Ly lnlercclive 8rcker:, MF G|cLc| cr /llcin Ccpilc| frcm lhe re|evcnl
C|ienl.

8. Slrclegic Ccpilc| Mcncgemenl :hc|| prcmpl|y infcrm c C|ienl cf cny cc|| fcr pcymenl cr |ccgemenl cf ccver Ly wcy
cf inilic| mcrgin cr vcriclicn mcrgin {Ly whclever lerm: lhc:e cL|igclicn: cre ce:criLec) which lnlercclive 8rcker:,
MF G|cLc| cr /llcin Ccpilc| mcy mcke. lf Slrclegic Ccpilc| Mcncgemenl ccnncl recci|y Le ccnlcclec lnlercclive
8rcker:, MF G|cLc| cr /llcin Ccpilc| :hc|| mcke c|| rec:cncL|e effcrl: lc infcrm c C|ienl cirecl cf cny :uch cc||.

. Slrclegic Ccpilc| Mcncgemenl :hc|| infcrm c C|ienl cf cny clher cmcunl: pcycL|e Ly lhcl C|ienl lc lnlercclive
8rcker:, MF G|cLc| cr /llcin Ccpilc| prcmpl|y cfler Leing ccvi:ec cf :uch cmcunl: Ly lnlercclive 8rcker:, MF G|cLc|
cr /llcin Ccpilc|.

10. lnlercclive 8rcker:, MF G|cLc| cr /llcin Ccpilc| :hc|| :enc c C|ienl mcnlh|y :lclemenl:, cpen pc:ilicn :lclemenl:
cnc ccnlrccl ncle: fcr c|| cec|ing: in Fulure: Ccnlrccl: Ly lhcl C|ienl wilh lnlercclive 8rcker:, MF G|cLc| cr /llcin
Ccpilc|.

11. lnlercclive 8rcker:, MF G|cLc| cr /llcin Ccpilc| re:erve: lhe righl lc refu:e lc cec| cn Lehc|f cf cny C|ienl in re|clicn
lc cny cec|ing in Fulure: Ccnlrccl: {clher lhcn c|c:ing cul exi:ling cpen pc:ilicn:), cr lc |imil lhe numLer cf cpen
pc:ilicn: he|c cn Lehc|f cf cny C|ienl, cr Lclh. lnlercclive 8rcker:, MF G|cLc| cr /llcin Ccpilc| wi|| infcrm Slrclegic
Ccpilc| Mcncgemenl cf cny refu:c| cl cr Lefcre lhe lime cl which lhe crcer i: p|ccec wilh lnlercclive 8rcker:, MF
G|cLc| cr /llcin Ccpilc|, cr c: :ccn lherecfler c: rec:cncL|y pc::iL|e.

12. Eilher pcrly mcy lermincle lhi: cgreemenl cl cny lime Ly giving lhe clher :even ccy: nclice in wriling lc lhcl
effecl.

13. Un|e:: clherwi:e cgreec Lelween lhe pcrlie:, upcn lerminclicn cf lhi: cgreemenl lnlercclive 8rcker:, MF G|cLc| cr
/llcin Ccpilc| wi|| c|c:e cul c|| ccnlrccl: enlerec inlc cn Lehc|f cf C|ienl: cnc wi|| c|c:e cul, cLcnccn cr exerci:e
cny cplicn ncl yel exerci:ec, cl lnlercclive 8rcker:, MF G|cLc| cr /llcin Ccpilc|: ci:crelicn.

14. Ierminclicn :hc|| ncl re|ec:e eilher pcrly frcm |icLi|ily fcr cny cnlececenl Lrecch cf cny cf lhe lerm: cf lhi:
cgreemenl.





















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ADVISOR DISCLOSURE DOCUMENT

Andrew Gibbs is the director and advisor for Strategic Capital Management Limited.

Experience & Qualifications

ASX & NZX Futures & Options Advisor (March 2007)
ASX Level 2 Derivatives Advisor (November 2005)
B Bus Economics & Accounting (November 1999)
Grad Dip Applied Finance & Investment (June 2003)

Andrew Gibbs is the founder, director and advisor for Strategic Capital Management and has been involved in the stock-
market as either a trader or stockbroker since 1999. Andrew began his career in commodities markets and was initially
involved with hedging currency risk and price risk for cotton farmers in south east Queensland along with trading his own
account on the SPI 200 futures index. Following a trip to New Zealand in 2001 Andrew started work with Goldman Sachs
JBWere in Auckland as a private client research assistant and was involved with asset allocation models, strategy and
tailoring institutional research towards retail investors. Following a 4 year term at Goldman Sachs JBWere Andrew moved to
Tricom Securities in Auckland and became a senior advisor and manager of equities for the Auckland office. At Tricom
Andrew advised in equities, futures, options and FX. After due consideration and just shy of 3 years at Tricom Andrew started
Strategic Capital Management, a boutique advisory firm dedicated to traders and superior research for traders.

General Information

Strategic Capital Management Limited is an advisory service located in Auckland NZ offering individually managed
accounts, trade execution and general advisory services on Australian and International markets. All client accounts and
funds are held with Interactive Brokers, MF Global or Attain Capital with clients utilising the advisory services of Strategic
Capital Management. Strategic Capital Management advisors hold the necessary NZX advisor requirements for advising in
stocks, options and futures. Strategic Capital Management Limited is regulated by the Securities Commission of New Zealand
and the New Zealand Exchange. Strategic Capital Management Limited advisors have no criminal convictions.

Procedures for Dealing with Money & Property

All client funds are held with Interactive Brokers, MF Global or Attain Capital. All deposits and withdrawals are requested
through Interactive Brokers, MF Global or Attain Capital although Strategic Capital Management Ltd may facilitate deposits
and withdrawals on your behalf at your request. At no time are your funds held with Strategic Capital Management.
Interactive Brokers, MF Global or Attain Capital will provide you with their account details after your account has been
approved.

Fees of the Advisor

Fees are to be negotiated on a case by case basis with your advisor

Trading Research Service

This service will offer an online research portal with trade recommendations on equities, options, futures and FX. The fee will
be via subscription and is yet to be announced. It is expected to be $75 AUD per month

Complaints Procedure

Strategic Capital Management Limited wants to know about any problems you may have relating to services provided by
Strategic Capital Management. Where you have a complaint you should take the following steps:

(a) Contact Strategic Capital Management by telephone, fax, e-mail or letter.
(b) If your complaint is not satisfactorily resolved within 3 working days you should put your complaint in writing and post
it to 38 Main Highway, Ellerslie. Strategic Capital Management Ltd will endeavor to respond in writing within 2 weeks
of receipt of your written complaint.
[c] Any client is entitled to make a complaint to the NZX.

New Zealand Exchange Limited
Level 2, NZX Centre, 11 Cable Street
PO Box 2959, Wellington, NZ




Page 47
Fotent|o| Con|||cts o| Interest

Due lc vcriclicn: in |iuicily, price vc|cli|ily cnc cifference: in execulicn cf crcer:, il i: impc::iL|e fcr Slrclegic Ccpilc|
Mcncgemenl {SCM) lc cLlcin icenlicc| crcer execulicn fcr c|| cf il: c|ienl: in cny cf il: prcgrcm:. ln cn effcrl lc lrecl c|| c|ienl:
fcir|y, fcr c|| crcer: execulec c: c L|cck Slrclegic Ccpilc| Mcncgemenl c::ign: cr |el: Le c::ignec lhe:e lrcce: lc ccccunl:
cn c :y:lemclic Lc:i:.

Slrclegic Ccpilc| Mcncgemenl {SCM) currenl|y lrcce: :lcck cnc ccmmccily inlere:l: fcr il: cwn ccccunl, il: principc|, Mr.
GiLL: mcy c|:c lrcce :everc| per:cnc| ccccunl:. 8clh Mr. GiLL: cnc SCM re:erve lhe righl lc lrcce cr ncl lrcce ccccunl: fcr
lheir cwn inlere:l: in lhe fulure. Crcer: fcr cny cf lhe cfcremenlicnec ccccunl: mighl ncl Le pcrl cf c L|cck crcer Lul mighl
Le p|ccec Lefcre cr cfler crcer: fcr c|ienl ccccunl:, cnc mighl cr mighl ncl cLlcin mcre fcvcrcL|e crcer execulicn. SCM
cnc Mr. GiLL: wi|| ncl kncwing|y cr ce|iLercle|y fcvcr lheir cwn ccccunl: cr cny c|ienl ccccunl: {inc|ucing cny func cr pcc|
ccccunl where SCM ccl: c: c lrccing ccvi:cr) cver clher c|ienl ccccunl: in cny mcnner, il Leing cckncw|ecgec, hcwever,
lhcl ciffering :ize cf ccccunl:, inf|cw: cnc culf|cw: cf euily inlc cr frcm lhe ccccunl, ccccunl: ccmmencing lrccing cl
cifferenl lime:, cnc clher cifference: wi|| in cnc cf lhem:e|ve: ccu:e vcriclicn in cn ccccunl: pcrlicipclicn in cn crcer
execulicn, cnc/cr lhe :ize cf crcer execulicn: in re|clicn lc clher ccccunl:. Feccrc: cf lhe lrccing cf lhe ccccunl: cf SCM cr
Mr. GiLL: cre cvci|cL|e fcr in:peclicn.

Cngcing lrccing :y:lem: ceve|cpmenl i: c high pricrily wilh SCM, il i: expeclec lhcl cn cccc:icn when lrccing new :y:lem:
ncl yel cvci|cL|e lc c|ienl:, c :iluclicn mcy cri:e where c pc:ilicn wcu|c Le he|c cppc:ile lc c c|ienl pc:ilicn. Ic cccre:: lhi:
pclenlic| ccnf|icl cf inlere:l, il i: lhe pc|icy cf SCM lhcl c|| lrccing fcr :y:lem: cr mcrkel: ncl cfferec lc c|ienl: wi|| lcke p|cce
in :epcrcle ccccunl:. Cne purpc:e cf lhe:e :epcrcle ccccunl: i: lc icenlify cnc :egregcle lhc:e lrcce: ncl cvci|cL|e lc
c|ienl ccccunl: cnc which cn cccc:icn mcy Le cppc:ile lc pc:ilicn: cf c c|ienl.

/fler c new c|ienl ccccunl i: e:lcL|i:hec fcr c prcgrcm wilh SCM, pc:ilicn: in vcricu: mcrkel: wi|| u:uc||y Le e:lcL|i:hec cn|y
Ly c new enlry :ignc| frcm cne cr mcre mcce|: c|| cf which cre ncrmc||y cvci|cL|e lc c|| c|ienl:. Since c|cer e:lcL|i:hec
ccccunl: wilhin c prcgrcm mcy hcve |crger pc:ilicn: frcm mcny previcu: enlry :ignc|: which hcve ncl yel Leen exilec, cnc
Le in lhe cppc:ile cireclicn lc lhe currenl :ignc|{:), il wcu|c ncl Le unu:uc| fcr c re|clive|y new c|ienl lc hcve c pc:ilicn
cppc:ile lc cnclher c|ienl: ccccunl cr lhe principc|': ccccunl{:). Whi|e lhe principc| re:erve: lhe righl lc lrcce new mcrkel:
fcr il: per:cnc| ccccunl, he wi|| never inlenlicnc||y lcke cr hc|c c mcrkel pc:ilicn cppc:ile lc cny c|ienl pc:ilicn excepl in lhe
ccncilicn: previcu:|y ce:criLec. Ihe lrccing reccrc: cf lhe principc|': per:cnc| ccccunl: cnc cny cccilicnc| ccccunl: |cler
e:lcL|i:hec Ly lhe principc| cr SCM wi|| Le cvci|cL|e fcr in:peclicn upcn wrillen reue:l.

kecord Keep|ng

lnlercclive 8rcker:, MF G|cLc| cr /llcin Ccpilc| keep c|| lrccing reccrc: cn ycur Lehc|f, which cre cvci|cL|e 24 hcur: per ccy
cnc cre upcclec |ive. C|ienl :lclemenl: cre cvci|cL|e cn|ine.

Aud|t|ng

SCM: fincncic| :lclemenl: cre cucilec Ly Fhi| Gcunl cnc /::ccicle:.


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