Trade Confirmation Disclosure
The following terms refer to all trade confirmations executed through Vontobel Securities Ltd. (“Vonsec”). This disclosure supplements each transaction confirmation issued to the clients of Vontobel Securities (hereafter referred as “client”):
- Vonsec acts as an introducing broker for US securities, and although all brokers are in Bank Vontobel’s network Vonsec goes directly to its executing brokers.
- Each trade confirmation is a transaction notification, not an invoice. Certain security information is collected at the time the confirmation is generated and may vary from the information at the time the trade was placed.
- The client will report any errors immediately and/or notify Vonsec if not entirely in accordance with the client’s understanding.
- All transactions are subject to the rules, regulations, requirements and customs of the Federal Reserve Board, the Securities and Exchange Commission, the Exchange or market (and its clearing house, if any) where executed, Swiss or European Regulators such as FINMA, and of any association whose rules and regulations govern transactions in said market, and to all the terms of our general customer's agreements between the client and Vonsec. Actual settlement will depend on type of product, market/exchange, and any local holidays. Additional information furnished upon request.
- The securities described may not be hypothecated by margin agreement as we do not offer to US customers.
- If this transaction is a sale and the securities are not already in our possession, please forward them immediately to avoid possible cancellation of trade or buy in.
- Regulation T requirements are not generally applicable, as we do not offer margin to US customers.
- The name of the other party or broker in the transaction, the exchange, the date, the time of execution, source and amount of remuneration will be furnished upon request, if not already displayed.
- Commission/Fee represents base commission according to agreed pricing schedule in place. For Alternative Investments (AI), also called Non Standard Assets (NSA), fees applicable to purchases, capital call processing, and redemptions will show as a separate line item on the confirmation.
Vontobel Securities will charge a Regulatory Fee on certain transactions. These charges are typically based on fees assessed under various regulations applicable to transactions. It may include any of the following: a sales fee on certain sell transactions (assessed at a rate consistent with Section 31 of the Securities Exchange Act of 1934), the Options Regulatory Fee or contract fee and the Trading Activity Fee (assessed at a rate consistent with Section 1 of Schedule A of FINRA’s By-Laws), among other charges.
Transactions in foreign securities (including foreign company ADRs that trade in the U.S.) may include taxes and fees charged by the foreign markets or governments, such as Stamp Tax, French Transaction Tax or other fees are charged as an independent line item on your trade confirmation.
- If the transaction involves callable securities, the call features could affect yield. Complete information will be provided upon request. On zero coupons, interest and multiplier securities, no periodic payments of interest or principal are generally made. These securities may be callable, below maturity value, without notice by mail to holder unless the securities are held in registered form.
- Leveraged and inverse ETFs entail unique risks, including but not limited to: use of leverage; aggressive and complex investment techniques; and use of derivatives. Leveraged ETFs seek to deliver multiples of the performance of a benchmark. Inverse ETFs seek to deliver the opposite of the performance of a benchmark. Both seek results over periods as short as a single day. Results of both strategies can be affected substantially by compounding. Returns over longer periods will likely differ in amount and even direction. These products require active monitoring and management, as frequently as daily. They are not suitable for all investors.
- Bonds and/or fixed-income securities trade differently than equity securities and do not trade on a listed exchange. Rather, they trade in the OTC (over the counter) marketplace and liquidity may not always exist for you to sell your position prior to maturity.
- If you request the sale of a nonmarketable or worthless security, Vontobel will request a “Declaration of remuneration” Form. A client can sign if he wants to dispose of a worthless security. This transaction is processed by the Bank as a custodial service. In such a sale, the security will be deemed worthless and Vontobel thereby makes no representation regarding the present or future value of these securities. The transaction is irreversible and you will have no further claim to the securities and no claim against Vontobel or its affiliates for any losses related to the sale.
- The security that you purchased may have a minimum denomination set by the issuer, which may reduce the number of investors willing to purchase the security and, therefore, adversely impact the price that you receive for the security. The quantity of securities you purchased is below the minimum denomination and may adversely affect the liquidity of the position unless you have other securities from the issue that can be combined to reach the minimum denomination.
- Trades Executed on behalf of Vontobel Securities Gotthardstrasse 43 Zurich, Switzerland. +41 44 487 86 24 or in the US at 1540 Broadway NY, NY 10036 212-572-5830
iVontobel Securities is a member of SIPC.
Bank Vontobel is not a SIPC member.
This notice applies only to US customers