Add docshare01.docshare.tips to server by VPSSIM successful ! - …docshare01.docshare.tips/files/7879/78792463.pdf · 2016. 7. 2. · Stocks, Bonds, Options, Futures, Foreign Exchange,

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

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

For clients who wish to invest into a trading system to be managed by Strategic Capital Management

Page 1

Interactive Brokers LLC Account Applicationfor 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 application to us:

Instructions:

Complete All Application Forms.

Specify Advisor Fee Arrangement.

Fill Out the Security Question and Answer Sections (Page 6 ).

Provide All Required Signatures. Signatures Are Requested On The Following Pages:

Page 1 9

Page 2 2

Page 2 2

Page 2 5

Provide Instructions For Initial Deposit Of Funds And/Or Securities 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)

Return Completed Application Package, along With Proof Of Identity And Address Documents For Each Account

Holder, and a Check (If you Are Funding your Account With a Check) To your Advisor Or To Interactive Brokers. If

Sending To Interactive Brokers Directly, Use Any of the Following:

Scan and Email

Courier/Overnight Service

(e.g., Fed Ex)

[email protected]

38 Main Highway

Ellerslie

Auckland

Mail(Please allow extra time for processing)

38 Main Highway

Ellersl ie

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

I. Account and Applicant Information

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

Country of Legal Residence State/Province

Account Type

Par tnership

Corpora t ion

Limited Liability Company

Unincorporated Business

The Proprietary Trading Group is a hedge fund, mutual fund or similar collective investment vehicle containing investor or

customer funds.

If you checked the above box, STOP: Please do n o t use this application if your Proprietary Trading Group is a hedge fund, mutual

fund or other collective investment vehicle containing investor or customer funds. Interactive Brokers has a separate and specific

application form for these account types. Please ask your IB Sales Representative or visit the IB website at

www.interactivebrokers.com .

P a g e 3I B L L C A c c o u n t A p p l i c a t i o n f o r F i n a n c i a l A d v i s o r C l i e n t s ( P r o p r i e t a r y T r a d i n g G r o u p s ) - S e p 2 2 2 0 0 9

Identification

Proprietary Trading Group Name:

Description of the Proprietary Trading Group's Business:

Proprietary Trading Group's Tax or Government-Issued Identification

Number:

Country that Issued the Proprietary Trading Group's Tax or

Identification Number:

Principal Place of Business of the Proprietary Trading Group (no P.O. boxes or "in care of" addresses allowed)

NOTE: Principal place of business is defined as the principal location of the firm where its officers and employees are located and where day-

to-day operat ions are conducted.

If the Proprietary Trading Group was created in an offshore jurisdiction or uses the services of a reg istered agent, and no actual officers or

employees are located at the offshore or registered agent address, please do NOT list this address as the firm's principal place of business.

Rather, you should l ist the address from which operations are conducted and where officers are physically located.

Street Address

City State/Province

Count ry Zip/Postal Code

Primary Phone Secondary Phone (optional)

Fax Website Address, if any

E-Mail Address for Account Correspondence Confirmation of E-Mail Address

Mailing Address (if different from business address)

Street Address

City State/Province



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 foreign 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 to ,

the offices, branches, and agencies of commercial banks or trust companies, private banks, national banks, thrift insti tutions, credit unions

and other organizations chartered under banking laws and supervised by the banking supervisors of any state.)

A securit ies broker or dealer

(Securities brokers include, but are not l imited to, organizations that: are members of a securities exchange, securities market or clearing

house; underwrite securit ies or otherwise help to bring new issues to market; formally act as market makers either on an exchange, trading

system or otherwise; hold themselves out as promoting l iquidity to the market; are looked to as a source of l iquidity to market professionals

or to the public; or advertise or otherwise let others know that they are in the business of buying and selling securit ies)

A futures commission merchant (FCM) or futures broker

(Futures brokers include, but are not l imited to, organizations that solici t or accept orders to purchase or sell futures or commodity option

contracts or that accept money, securit ies or property to margin, guarantee or secure solici ted or accepted futures trades or contacts.)

An introducing or omnibus broker

A branch or office, located outside of the US, of: an SEC-registered broker dealer; an SEC-registered mutual fund; or a CFTC-registeredcommodi t ies broker

A mutual fund, open-end investment company, hedge fund, private equity fund, venture capital fund, commodity pool, or any other type ofinvestment vehicle or fund

A money t ransmit ter

(Money transmitters include but are not l imited to, organizations that are in the business of accepting currency or funds denominated in

currency and transmitting the currency, funds or va lue thereof through a financial agency, financial institution, the Federal Reserve Bank or

an electronic funds network or are otherwise engaged in the business of transferring funds.)

A currency dealer or exchanger

A bank

Yes N o Is the Proprietary Trading Group a publicly-held corporation that is traded on a regulated U.S. or foreign stock exchange?

If Yes,

Name of the exchange on which the shares of the Proprietary Trading Group are traded:

The stock symbol:

Yes N o Is the Proprietary Trading Group regulated in the U.S. or in any other country?

If Yes, please list up to three:

Regulator Name Regulator 's Country Registration Capacity Registrat ion/License Number

Yes N o Is the Proprietary Trading Group engaged in the brokerage business (e.g. , is the Proprietary Trading Group registered, authorized

or operating as a futures commission merchant, or securities or futures brokerage firm in the US, UK, Canada or elsewhere)

If Yes, please provide details:

Yes N o Is the Proprietary Trading Group, pursuant to National Futures Association By-law 1101, required to be registered with U.S.

Commodity Trading Commission or registered with the IDA as a futures commission merchant, introducing broker, commodity

pool operator, commodity trading a leverage transaction merchant or in any other country?

If Yes, please provide details:


Yes N o Is the Proprietary Trading Group a member of an exchange or a regulatory or self-regulatory organization or an associated or

affi l iated person of an exchange member?

If Yes, Name of Exchange(s):

Name of Regulatory or Self Regulatory Organization(s):

Yes N o Has the Proprietary Trading Group or any of its off icers or authorized traders ever been the subject of, or initiated, l i t igation,

arbitrat ion or any other type of dispute or set t lement proceeding with another broker or dealer?

If yes, please provide details, including the disposition of the proceeding:

Yes N o Has the Proprietary Trading Group or any of i ts off icers or authorized traders ever been the subject of an investigation or

proceeding by any commodities or securit ies exchange or any regulatory or self-regulatory authority?

If yes, please provide details, including the disposition of the investigation or proceeding:

Yes N o Have any of the principals, officers or authorized traders of the Proprietary Trading Group ever been arrested for, or convicted

of, a crime?

Yes N o Does the Proprietary Trading Group control or own more than 10% of the shares of any publicly-traded company?

If yes, enter stock symbol(s) of the companies, separated by commas:

Yes N o Does the Proprietary Trading Group or do any of i ts officers or authorized traders control the trading in, or have a beneficial

ownership interest in, any other Interactive Brokers accounts?

If yes, enter the IB user names of these accounts, separated by commas:

Yes N o Is any officer or authorized trader of the organization registered as a broker or an employee, director or owner of a securit ies or

commodit ies brokerage f irm?

Foreign Bank

Please answer the below questions only if you have selected "a bank" or "a foreign bank" above.

Is your firm operating under a banking license that has been issued by any of the following countries:

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 firm operating under an "offshore banking license"?

An "offshore banking license" is a l icense to conduct banking activities that prohibits the licensed entity from conducting

banking activities with the citizens of, or with the local currency of, the country which issued the license.

Yes No

The firm hereby certifies that it will immediately contact IB in writing via an email addressed to

[email protected] (Please put "Change in Foreign Bank Status" in the subject line) in the event that the firm

begins to operate under a banking l icense that:

a . Is an "offshore banking license" (as defined above);

b . Has been issued by a foreign country that has been designated as an NCCT country by the FATF; or

c. Has been issued by a foreign country that has been designated by the Secretary of the U.S. Department of the Treasuryas warranting special measures due to money laundering concerns.

Yes No

P a g e 6 I B L L C A c c o u n t A p p l i c a t i o n f o r F i n a n c i a l A d v i s o r C l i e n t s ( P r o p r i e t a r y T r a d i n g G r o u p s ) - S e p 2 2 2 0 0 9

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)

Please pick a security question from each of the three l ists below and provide the answers to those questions so that we may use i t in the future

for verification purposes:

What is the name of your hometown newspaper?

What is the name of the High School you graduated from?

What is the middle name of your eldest child?

What city were you born in?

What was the name of your first pet?

What is the street number of the house you grew up in?

What is your favorite cartoon character?

What is your favorite color?

What is your wife's middle name?

What is the street name your work office is located on?

Answer:

What is the name of your favorite sports team?

What is the last name of your favorite politician?

In what city were you married?

In what city or town was your first job?

What is your favorite place to shop?

Who was your childhood hero?

What was your High School mascot?

What was the name of a best fr iend during childhood?

What was the f irst concert you at tended?

What is your grandmother 's f i rs t name?

Answer:

What is name of first boyfriend/girlfriend?

What is the name of a school you attended?

What is your favorite vegetable?

What is your shoe size (use decimals, if necessary)?

Who was your first grade teacher?

Where did you go on your honeymoon?

What was your father 's occupation?

What was your childhood nickname?

What was the model of your first car?

Where is your favorite vacation 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.


Title Primary Phone

Fax Secondary Phone (optional)

E-Mail Address Confirmation of E-Mail Address

Street Address (n o P.O. boxes or "in care of" addresses allowed)

City State/Province


Date of Birth(mm/dd/yyyy) Country of Cit izenship

If you are a U.S. citizen, a U.S. resident or have a U.S Social Security

Number, you must provide a Social Security Number:

If you are n o t a U.S. resident, please check which form of identification

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

National Identity Card

Country of Issuance:

Number:


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

Please list any individual or entity that owns a 20% or greater share in the Proprietary Trading Group.

First 20% or Greater Shareholder

(individual or entity)

Second 20% or Greater Shareholder


Owner 's Name Owner 's Name

Percentage of Ownership Percentage of Ownership

Date of Birth (mm/dd/yyyy) (if an individual) Date of Birth (mm/dd/yyyy) (if an individual)

Street Address Street Address

City City

State/Province State/Province

Count ry Count ry

Zip/Postal Code Zip/Postal 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:



Number:

If shareholder is an individual and is n o t a U.S. resident, please check

which form of identification owner uses:

Driver's License


Passpor t




Driver's License


Passpor t



First 20% or Greater Shareholder


Second 20% or Greater Shareholder



Number:


Number:

Tax ID No. (if shareholder is an entity):




Third 20% or Greater Shareholder


Fourth 20% or Greater Shareholder


Owner 's Name Owner 's Name

Percentage of Ownership Percentage of Ownership

Date of Birth (mm/dd/yyyy) (if an individual) Date of Birth (mm/dd/yyyy) (if an individual)

Street Address Street Address

City City

State/Province State/Province

Count ry Count ry

Zip/Postal Code Zip/Postal 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)


Third 20% or Greater Shareholder


Fourth 20% or Greater Shareholder




Number:



Number:



Driver's License


Passpor t



Number:



Driver's License


Passpor t



Number:





Fifth 20% or Greater Shareholder


Owner 's Name

Percentage of Ownership

Date of Birth (mm/dd/yyyy) (if an individual)

Street Address

City

State/Province

Count ry

Zip/Postal Code


Fifth 20% or Greater Shareholder


Primary Phone (with area code)

Secondary Phone (optional)

Fax No. (with area code)

Country of Citizenship or Formation (if entity)



Number:



Driver's License


Passpor t



Number:




Account Financial Background

Investment Objectives and Intended Purpose of Trading (check all that apply).

NOTE: To be approved for option or margin trading, you must select "Speculation" or "Trading Profits" as one of your investment objectives.

Preservation of Capital Income Growth Trading Profits Speculation Hedging

Investment Experience (please fill in all blanks)

Years Trading Experience Number of Trades Per Year

Knowledge Level

(check one for each product type)

Stocks Extensive Good Limited

Bonds Extensive Good Limited

Opt ions Extensive Good Limited

Futures Extensive Good Limited

Forex Extensive Good Limited

Estimated Net Worth (in base currency,

exclude value of residence)

Estimated Liquid Net Worth (in base currency,

exclude residence)

Annual Net Income (in base currency) Total Assets (in base currency)

Accredited Investor Qualification Information

Please answer the questions below only if your Estimated Net Worth is equal to or greater than $5,000,000.00.

Is your Proprietary Trading Group a broker or dealer registered pursuant to section 15 of the Securities Exchange Act of 1934? Yes No

Is your Proprietary Trading Group a corporation, a partnership, a l imited liabili ty company, a Massachusetts or similar business

trust, or an organization described in Section 501(c)(3) of the Internal Revenue Code, in each case not formed for the specific

purpose of acquiring the securit ies offered, with total assets in excess of $5,000,000?

Yes No

Is your Proprietary Trading Group a trust , in each case, not formed for the specific purpose of acquiring certain debt and equity

securities being offered, with total assets in excess of $5,000,000, whose purchase of securities is directed by a sophisticated

person with such knowledge and experience in f inancial and business matters that such person is capable of evaluating the

merits and r isks of any prospective investment?

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 confirm under penalties of law that the foregoing answers are true and correct. I agree that if I am granted access to IB's Private

Placement Site, I shall keep confidential and not provide to any other person or entity, any information made available to me on

the IB Private Placement Site.

Yes No

P a g e 1 3 I B L L C A c c o u n t A p p l i c a t i o n f o r F i n a n c i a l A d v i s o r C l i e n t s ( P r o p r i e t a r y T r a d i n g G r o u p s ) - S e 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 operating business and was n o t formed primarily for the purpose of trading or holding

financial assets.

If you checked the above box, please provide the following:

Business Description (Please be specific. We cannot accept "general business", "general consulting", etc...):

The Proprietary Trading Group is a personal or family investment vehicle. The Proprietary Trading Group is beneficially owned by asingle person or close family members and is organized for the purpose of making f inancial investments for the owner and/or theowner's close family.


Name of pr imary contr ibutor/owner of the personal / f amily

investment vehicle:

Occupation (please be specific):

Employer:

Employer 's Address:

Source of funds invested in the vehicle (please be specific):

Name of Administrator or Corporate Services Provider for personal/family investment vehicle (if any):

Address of Administrator (if any):

Contact person at Administrator (if any): Phone Number of contact (if any):

The Proprietary Trading Group is a closely-held proprietary trading company (or corporation or similar vehicle). The ProprietaryTrading Group is beneficially owned by a small group of people and is organized for the purpose of proprietary trading.


Do any of the owners/investors of the Proprietary Trading Group reside in the U.S.? Yes No

Does the Proprietary Trading Group solicit owners/investors who reside in the U.S.? Yes No

Would the Proprietary Trading Group accept owners/investors who reside in the 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 n o t contain funds of customers or investors.


By checking this box, applicant confirms and certif ies that the Proprietary Trading Group's account

will n o t contain customer or investor funds. Confirmed Not

Conf i rmed

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

P a g e 1 4 I B L L C A c c o u n t A p p l i c a t i o n f o r F i n a n c i a l A d v i s o r C l i e n t s ( P r o p r i e t a r y T r a d i n g G r o u p s ) - S e p 2 2 2 0 0 9

Choose Cash or Margin Account (choose one)

Ca s hMust have enough cash in the account to cover the cost of the transaction plus commissions. No shorting of stock or futures day tradingbenefits (50% of regular margin requirement during the day on certain exchanges). Limited purchase and sale of options and trading is onlyallowed for products denominated in the base currency of the account. Cash from the sale of stocks, options and futures becomes availablewhen the transaction settles (e.g. US stock - 3 days, German stocks- 2 days, US options- 1 day).

Portfolio MarginSame as a Reg T margin account (see below) except that margin requirements generally will be lower in a portfolio margin account becausemargin requirements will be calculated based on a r isk based calculation methodology. Customers must maintain account equity of

$100,000 in order to utilize a portfolio margin account. Otherwise Reg T margin requirements will apply.

Reg T MarginBorrowing to support equities trading, shorting of equities, full options trading, full futures/futures options trading, currency conversions,and securi t ies/commodit ies t rading in mult iple currency denominations available. Margin requirements are computed real- t ime under arules-based calculat ion methodology, with immediate posit ion l iquidation if the minimum maintenance margin requirement is not met.Purchase and sale proceeds are immediately recognized.


A c c o u n t T r a d i n g P e r m i s s i o n s

P l e a s e c h e c k a l l t h e p r o d u c t s t h a t y o u m a y w a n t t o t r a d e i n y o u r a c c o u n t . Y o u a n d y o u r a d v i s o r a l s o w i l l h a v e t h e a b i l i t y

t o a d d a d d i t i o n a l p r o d u c t s a f t e r y o u r a c c o u n t h a s b e e n o p e n e d .

S t o c k s F i x e d I n c o m e W a r r a n t s

O p t i o n s

( S t o c k &

I n d e x )

F u t u r e sF u t u r e s

O p t i o n s

S i n g l e S t o c k

F u t u r e s

FOREX

( F o r e i g n

E x c h a n g e )

G l o b a l

A u s t r a l i a

A u s t r i a

B e l g i u m

C a n a d a

F r a n c e

G e r m a n y

H o n g K o n g

I t a l y

J a p a n

K o r e a

M e x i c o

S i n g a p o r e

S p a i n

S w e d e n

S w i t z e r l a n d

T h e N e t h e r l a n d s

U n i t e d K i n g d o m

U n i t e d S t a t e s


( A l g o r i t h m i c

E x e c u t i o n V e n u e )


( F l o o r B a s e d

E x c h a n g e s )

P l e a s e n o t e t h a t SEC r e s t r i c t i o n s p r e v e n t U . S . l e g a l r e s i d e n t s f r o m t r a d i n g O P T I O N S o n s t o c k a n d i n d e x e s i n N o n - U.S.

c o u n t r i e s .

N o t i c e R e g a r d i n g A n t i - M o n e y L a u n d e r i n g a n d C u s t o m e r I d e n t i f i c a t i o n P r o c e d u r e s : T o h e l p t h e U . S . g o v e r n m e n t f i g h t

t h e f u n d i n g o f t e r r o r i s m a n d m o n e y l a u n d e r i n g a c t i v i t i e s , F e d e r a l l a w r e q u i r e s a l l f i n a n c i a l i n s t i t u t i o n s t o o b t a i n , v e r i f y ,

a n d r e c o r d i n f o r m a t i o n t h a t i d e n t i f i e s e a c h p e r s o n o r e n t i t y w h o o p e n s a n a c c o u n t . W e a r e r e q u i r e d b y l a w t o a s k y o u t o

p r o v i d e y o u r n a m e , a d d r e s s , d a t e o f b i r t h a n d o t h e r i n f o r m a t i o n a b o u t y o u , y o u r o r g a n i z a t i o n o r p e r s o n s r e l a t e d t o y o u r

organizat ion t h a t will allow u s t o identify you before we approve your account . We also will a sk you t o provide cer ta in

identifying documents , such a s your driver 's license o r pas spo r t o r your organizat ion 's articles of incorporat ion a n d m a y

obta in credi t a n d o the r consumer repor t s t o ass is t u s in verifying your identi ty a n d in determining whether you satisfy o u r

account criteria. Unless you provide t h e reques ted informat ion a n d documenta t ion , we may n o t b e able t o o p e n y o u r

account . By applying for a n IB account , you agree t o provide accurate a n d t ru thfu l informat ion a s reques ted by IB a n d y o u

consen t t o IB's acquisi t ion of credi t a n d o the r consumer repor t s abou t you for t h e pu rposes descr ibed above.


III.a ADVISOR FEE ARRANGEMENT Choose o n e of the following advisor fee billing methods:

No Fee

No fees are charged by your advisor for managing 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

Interactive Brokers calculates Advisor Fees and deducts these fees from your client account automatica lly and sends them to your advisor as

specified.

Check all that apply and fi l l- in the required amounts:

Annualized Percentage of Net Liquidation Value applied on a daily basis (enter annual percentage) %

Annualized Flat Fee applied on a daily basis, apportioned by 252 days (enter 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) %

Monthly/Quarterly Invoicing

Your advisor calculates the Advisor Wrap Fees and removes the fees from your account up to a l imit of pe r mon th / o r

per quar ter .

Per-Trade Unit Advisory Fee (For non-US customers with non-US advisors only).If this method is chosen, you must complete the fee

schedule below.

III.b FEE PER TRADE UNIT

Please acknowledge the change in fees charged by your advisor and send back to IB at the address above .

Any asset class/currency for which a fee per trade unit is not specified will use the IB standard commission schedule as i ts default , in which case

the advisor will not make any fee over and above the fee IB charges the advisor's client to execute and clear trades. A fee per trade unit may be

entered as an absolute markup over and above IB's standard commission, as a % of IB's standard commission, or as an absolute amount (IB's

standard commission wil l be subtracted from this amount) .

Absolute markup is entered in the currency of the asset class. The unit column indicates if the absolute markup gets applied to shares, contracts,

or % of notional value and up to three decimal places may be entered. As an example, when you enter "1" Absolute Markup on the USD option

line, and if one IB Smart option contract were executed, the client would be charged $2 ($1 is the standard IB commission, and $1 is specified as

an absolute 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 absolute amount requires the input of a minimum for the trade, and then 1 to 3 fees (Fee#1, Fee#2, Fee#3) that are specified by volume

breaks (Vol#1, Vol#2). The unit column indicates if the absolute markup gets applied to shares, contracts, or % of notional value and up to three

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 with a minimum of 10 GBP (minimums are always entered amounts) for GBP stocks, you would enter:

Minimum 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 absolute amount) may be entered for each asset class/currency. I t should be noted that in no case may you enter more than 7 t imes

IB's standard commission.

Advisor Fee Cap

IB caps the amount of advisor fees earned in any 360 day period to 25% of the client 's average equity over this period, with additional cap limits

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

advisor will not receive any client fees until the fee cap is no longer exceeded. IB will continue to charge its standard commissions when the fee

cap limit is exceeded. Please be aware that advisors are solely responsible for ensuring that the fees they charge are reasonable and in accordance

with regulatory requirements. For a complete fee cap, visit ht tp : / /www. in te rac t ivebrokers .com/en/accounts /advisors /

advisorWrapFees.php?ib_entity=llc.


Currency Unit Minimum FeeAbsolute

Markup% Markup

Absolute Amount

Fee #1 Vol #1 Fee #2 Vol #2 Fee #3

Pass

t h r o u g h

Fees*

Stocks

USD Shares

EUR %

CHF %

GBP %

CAD Shares

SEK %

JPY %

HKD %

EUR

EUR

EUR

AUD %

MXN %

Warrants

EUR %

HKD %

Stock & Index Options

USD Contrac ts

EUR Contrac ts

HKD Contrac ts



Markup% Markup

Absolute Amount


Pass

t h r o u g h

Fees*

CHF Contrac ts

GBP Contrac ts

CAD Contrac ts

JPY Contrac ts

KRW %

SEK Contrac ts

AUD Contrac ts

Futures, Futures Options, SSFs

USD Contrac ts

AUD Contrac ts

EUR Contrac ts

HKD Contrac ts

CHF Contrac ts

GBP Contrac ts

CAD Contrac ts

JPY Contrac ts

KRW Contrac ts

USD

USD

USD

USD



Markup% Markup

Absolute Amount


Pass

t h r o u g h

Fees*

USD

SEK Contrac ts

MXN Contrac ts

Forex

AUD %

CAD %

CHF %

EUR %

GBP %

HKD %

JPY %

USD %

NZD

NOK

Bonds

USD$1000 Face

Value

*Pass through exchange and regulatory fees applies to Absolute Amount only.

Signature of Account Holder

Second Signature (required only for joint and other accounts

where multiple signatures needed)

Date Date


IV. AGREEMENTS AND ACKNOWLEDGEMENTS

Interactive Brokers Customer Agreement

The Interactive Brokers Customer Agreement governs the relat ionship between Customer and Interactive Brokers and sets forth the terms and

conditions governing Customer's IB account. The Customer Agreement has been provided separately to Customer as part of a package of

documents labeled: Interactive Brokers LLC Agreements and Disclosure Documents.

Customer must read the IB Customer Agreement in i ts entirety. Below are certain essential terms of the Agreement that Customer must

under s t and :

A. Cus tomer is obligated t o accept all executions t h a t a re consis tent with t h e ins t ruct ions conta ined in Customer ' s orders .

B. IB's sys tems are c o m p u t e r -based a n d any c o m p u t e r -based sys tem may fail a t one t ime o r another , o f ten by reason of forces beyond h u m a n

control . IB is n o t liable for sys tem o r network failures, a n d Cus tomers who require t h e highest level of reliability agree t o mainta in a l te rna te

t rading facilities.

C. Cus tomers a re responsible for protect ing t h e secrecy of thei r u se rnames a n d passwords , a n d they will b e responsible for t r ades en te red b y

th i rd par t ies us ing thei r u se rnames a n d passwords .

D. In t h e event t r ades a re conf i rmed by IB a s executed, a n d they are later cancelled by a n exchange, t rading network o r regulatory authori ty, t h e

IB conf i rmed t rade will a lso b e d e e m e d cancelled.

E. IB submi t s all o rde r s for execution in t h e orde r in which i t receives them, including all o rde r s submi t t ed by IB o r i ts affiliates.

F. IB is n o t responsible for t h e execution of o rde r s a t limit pr ices if t h e order ' s t ransmiss ion is delayed o r is otherwise affected by d a t a

communicat ion failure.

G. IB doe s n o t provide trading, inves tment o r tax advice, a n d Cus tomers shall n o t rely o n s ta t emen t s by IB employees which p u r p o r t t o provide

such advice.

H. IB doe s n o t m a k e margin calls, a n d IB mainta ins t h e r ight t o immediately close o u t posi t ions, wi thout notice o r liability, in any account t h a t

does n o t have sufficient f u n d s t o m e e t t h e margin requi rements imposed by IB o r regulatory authori t ies .

I. IB cus tomers a re responsible t o IB for t h e cont inued accuracy a n d upda t ing of all informat ion provided t o IB.

Commodity Futures Trading Commission Risk Disclosure Statement

Interactive Brokers provides you the following disclosure document in the event that you and your advisor choose to trade futures or options on

futures in your Interactive Brokers account. Please read and sign the following document.

Risk Disclosure Statement for Futures and Options

This brief statement does not disclose all of the risks and other significant aspects of trading in futures and options. In l ight of the risks, you

should undertake such transactions only if you understand the nature of the contracts (and contractual relat ionships) into which you are

entering and the extent of your exposure to r isk. Trading in futures and options is not suitable for many members of the public. You should

carefully consider whether trading is appropriate for you in light of your experience, objectives, financial resources and other relevant

circumstances.

Futures

A. Effect o f "Leverage" or "Gearing"

Transact ions in fu tu res carry a high degree of risk. The a m o u n t of initial margin is smal l relative t o t h e value of t h e fu tures contrac t s o t h a t

t ransact ions a re ` leveraged ' o r `geared ' . A relatively small marke t movement will have a proport ionately larger impac t o n t h e f u n d s you have

depos i ted o r will have t o deposi t : th i s may work against you a s well a s for you. You may sus ta in a tota l loss of initial margin f u n d s a n d a n y

addit ional f u n d s depos i ted with t h e f i rm t o mainta in your posit ion. If t h e marke t moves against your posi t ion o r marke t levels a re increased,

you may b e called u p o n t o pay substant ia l addi t ional f u n d s o n s h o r t notice t o mainta in your posit ion. If you fail t o comply with a reques t f o r

addit ional f u n d s within t h e t ime prescribed, your posi t ion may b e liquidated a t a loss a n d you will b e liable for any resul t ing deficit.

B. R i s k -reducing orders or strategies

The placing of certain o rde r s (e.g. ` s t o p -loss ' orders , where permi t t ed u n d e r local law, o r ` s t o p -limit ' orders) which are in tended t o limit

losses t o certain a m o u n t may n o t b e effective because marke t condi t ions may m a k e it impossible t o execute such orders . Strategies us ing

combinat ions of posi t ions, such a s ` s p r e a d ' a n d ` s t r add le ' posi t ions may b e a s risky a s taking simple ` long ' o r ` s h o r t ' posi t ions.

Options

C. Variable degree o f risk

Transact ions in opt ions carry a high degree of risk. Purchasers a n d sellers of op t ions shou ld familiarize themselves with t h e type of op t ion

(i.e. p u t o r call) which they contempla te t rading a n d t h e associated risks. You shou ld calculate t h e extent t o which t h e value of t h e op t ions

m u s t increase for your posi t ion t o become profitable, taking in to account t h e p r e m i u m a n d all t ransact ion costs .

The purchase r of op t ions may offset o r exercise t h e opt ions o r allow t h e opt ions t o expire. The exercise of a n opt ion resul t s ei ther in a c a s h

se t t lement o r in t h e purchase r acquiring o r delivering t h e underlying interest . If t h e opt ion is o n a future , t h e purchase r will acquire a f u t u r e s

posi t ion with associated liabilities for margin (see t h e sect ion o n Futures above). If t h e purchased opt ions expire worthless, you will suffer a

tota l loss of your inves tment which will consis t o f t h e opt ion p r e m i u m plus t ransact ion costs . If you are contemplat ing purchas ing d e e p -

o u t -o f -t h e -money opt ions, you shou ld b e aware t h a t t h e chance of s uch opt ions becoming profi table ordinarily is remote .

Selling (`writ ing' o r `grant ing ' ) a n opt ion generally entai ls considerably greater r isk t h a n purchas ing opt ions. Although t h e p r e m i u m received


by t h e seller is fixed, t h e seller may sus ta in a loss well in excess of t h a t amount . The seller will b e liable for addit ional margin t o mainta in t h e

posi t ion if t h e marke t moves unfavorably. The seller will a lso b e exposed t o t h e r isk of t h e purchase r exercising t h e opt ion a n d t h e seller will

b e obligated t o ei ther set t le t h e opt ion in cash o r t o acquire o r deliver t h e underlying interest . If t h e opt ion is o n a future , t h e seller will

acquire a posi t ion in a fu tu re with associated liabilities for margin (see t h e sect ion o n Futures above). If t h e opt ion is `covered ' by t h e seller

holding a corresponding posi t ion in t h e underlying interes t o r a fu tu re o r ano the r opt ion, t h e r isk may b e reduced. If t h e opt ion is n o t

covered, t h e r isk of loss can b e unlimited.

Certain exchanges in s o m e jurisdict ions permi t defer red paymen t of t h e opt ion premium, exposing t h e purchase r t o liability for marg in

paymen t s n o t exceeding t h e a m o u n t of t h e premium. The purchase r is still subjec t t o t h e r isk of losing t h e p r e m i u m a n d transact ion costs .

When t h e opt ion is exercised expires, t h e purchase r is responsible for any unpa id p r e m i u m outs tanding a t t h a t t ime.

Additional risks c o m m o n to futures and options.

D. Terms and conditions o f contracts

You shou ld ask t h e f i rm with which you deal abou t t h e t e r m s a n d condi t ions of t h e specific fu tu res o r op t ions which you are t rading a n d

associated obligations (e.g. t h e circumstances u n d e r which you may become obligated t o m a k e o r take delivery of t h e underlying interes t o f a

fu tu res contrac t and , in respec t of opt ions , expirat ion da te s a n d restr ict ions o n t h e t ime for exercise). Under certain circumstances t h e

specifications of outs tanding contrac ts (including t h e exercise price of a n option) may b e modif ied by t h e exchange o r clearing house t o

reflect changes in t h e underlying interest .

E. Suspension or restriction o f trading and pricing relationships

Market condi t ions (e.g. illiquidity) a n d / o r t h e opera t ion of t h e rules of certain marke t s (e.g. t h e suspens ion of t rading in any contrac t o r

contrac t m o n t h because of price limits o r "circuit breakers") may increase t h e r isk of loss by making it difficult o r impossible t o effect

t ransact ions o r l iqu ida te /offset posi t ions. If you have so ld opt ions , th i s may increase t h e r isk of loss.

Further, normal pricing relat ionships between t h e underly ing interes t a n d t h e future , a n d t h e underlying interes t a n d t h e opt ion may n o t

exist. This can occur when, for example, t h e fu tu res contrac t underlying t h e opt ion is subjec t t o price limits while t h e opt ion is not . T h e

absence of a n underlying reference price may m a k e it difficult t o judge "fair" value.

F. Deposited cash and property

You shou ld familiarize yourself with t h e protec t ions accorded money o r o the r proper ty you depos i t for domest ic a n d foreign transact ions ,

particularly in t h e event of a f i rm insolvency o r bankruptcy. The extent t o which you may recover your money o r proper ty ma y b e governed

by specific legislation o r local rules. In s o m e jurisdictions, p roper ty which h a d been specifically identifiable a s your own will b e p r o -ra t ed i n

t h e s a m e m a n n e r a s cash for pu rposes o r dis t r ibut ion in t h e event of a shortfal l .

G. Commission and other charges

Before you begin t o trade, you shou ld obta in a clear explanat ion of all commission, fees a n d o the r charges for which you will b e liable. These

charges will affect your n e t prof i t (if any) o r increase your loss.

H. Transactions in other jurisdictions

Transact ions o n marke t s in o the r jurisdictions, including marke t s formally l inked t o a domest ic market , may expose you t o addit ional risk.

Such marke t s may b e subjec t t o regulat ion which may offer dif ferent o r diminished investor protect ion. Before you t rade you shou ld inquire

abou t any rules relevant t o your part icular t ransact ions. Your local regulatory author i ty will b e unable t o compel t h e enforcement of t h e ru le s

of regulatory authori t ies o r marke t s in o the r jurisdict ions where your t ransact ions have been effected. You shou ld ask t h e f i rm with which

you deal for detai ls abou t t h e types of redress available in b o t h your h o m e jurisdict ion a n d o the r relevant jurisdict ions before you s ta r t t o

t rade .

I. Currency risks

The prof i t o r loss in t ransact ions in foreign cu r r ency -denomina ted contrac ts (whether they are t r aded in your own o r ano the r jurisdiction)

will b e affected by fluctuat ions in currency ra tes where there is a need t o convert f r o m t h e currency denominat ion of t h e contrac t t o a n o t h e r

currency.

J. Trading facilities

Most o p e n -outcry a n d electronic t rading facilities a re s u pp o r t e d by c o m p u t e r -based componen t sys tems for t h e o r d e r -routing, execution,

matching, registrat ion o r clearing of t rades . As with all facilities a n d systems, they are vulnerable t o temporary dis rupt ion o r failure. Your

ability t o recover certain losses may b e subjec t t o limits o n liability imposed by t h e sys tem provider, t h e market , t h e clearing house a n d /o r

m e m b e r firms. Such limits may vary: you shou ld ask t h e f i rm with which you deal for detai ls in th i s respect .

K. Electronic trading

Trading o n a n electronic t rading sys tem may differ n o t only f r o m trading in a n o p e n -outcry marke t b u t also f r o m trading o n o the r electronic

t rading systems. If you under take t ransact ions o n a n electronic t rading system, you will b e exposed t o r isks associated with t h e s y s t e m

including t h e failure of hardware a n d software. The resul t o f any sys tem failure may b e t h a t your o rde r is ei ther n o t executed according t o

your ins t ruct ions o r is n o t executed a t all.

L. O f f -exchange transactions

In s o m e jurisdictions, a n d only t h e n in res t r ic ted circumstances, f i rms are permi t t ed t o effect o f f - exchange transact ions. The f i rm wi th

which you deal may b e acting a s your counterpar ty t o t h e transact ion. It may b e difficult o r impossible t o liquidate a n existing posit ion, t o

assess t h e value, t o de te rmine a fair price o r t o assess t h e exposure t o risk. For these reasons , these t ransact ions may involve increased risks.

O f f -exchange t ransact ions may b e less regulated o r subjec t t o a separa te regulatory regime. Before you under take such transact ions, y o u

shou ld familiarize yourself with applicable rules a n d a t t endan t r isks.

I hereby acknowledge that I have received and understood this r isk disclosure statement:


S i g n a t u r e o f A c c o u n t H o l d e r S i g n a t u r e o f J o i n t A c c o u n t H o l d e r

D a t e D a t e

F u t u r e s T r a d i n g A r b i t r a t i o n A g r e e m e n t

I f y o u t r a d e s t o c k s o r s t o c k o p t i o n s i n y o u r I B a c c o u n t , y o u w i l l b e c o v e r e d b y a m a n d a t o r y a r b i t r a t i o n a g r e e m e n t , w h i c h s t a t e s t h a t a n y

d i s p u t e s r e g a r d i n g y o u r a c c o u n t w i l l b e r e s o l v e d t h r o u g h a r b i t r a t i o n . T h e f o l l o w i n g o p t i o n a l a r b i t r a t i o n a g r e e m e n t c o v e r s t r a d i n g i n f u t u r e s o r

o p t i o n s o n f u t u r e s, i n t h e e v e n t t h a t y o u a n d y o u r a d v i s o r c h o o s e t o t r a d e t h e s e i n v e s t m e n t p r o d u c t s i n y o u r a c c o u n t . Y o u a r e n o t r e q u i r e d t o

s i g n t h e F u t u r e s T r a d i n g A r b i t r a t i o n A g r e e m e n t b e l o w , b u t i f y o u d o n o t s i g n i t y o u r a c c o u n t w i l l b e r e s t r i c t e d t o a o n e c o n t r a c t t r a d i n g l i m i t .

F u t u r e s T r a d i n g A r b i t r a t i o n A g r e e m e n t: A n y c o n t r o v e r s y o r c l a i m b e t w e e n I n t e r a c t i v e B r o k e r s L L C ( " I B " ) a n d t h e u n d e r s i g n e d ( " C u s t o m e r " )

a r i s i n g o u t o f o r r e l a t i n g t o C u s t o m e r ' s A c c o u n t w i t h I B , t o t r a n s a c t i o n s b e t w e e n I B a n d C u s t o m e r , t o t h e C u s t o m e r A g r e e m e n t w i t h I B o r a n y

o t h e r a g r e e m e n t b e t w e e n I B a n d C u s t o m e r , o r t o t h e b r e a c h o f a n y s u c h t r a n s a c t i o n o r a g r e e m e n t s h a l l , e x c e p t a s p r o v i d e d b e l o w , b e r e s o l v e d b y

a r b i t r a t i o n b e f o r e a f o r u m c h o s e n i n a c c o r d a n c e w i t h t h e p r o c e d u r e s e t o u t b e l o w . I f , b y r e a s o n o f a n y a p p l i c a b l e s t a t u t e , r e g u l a t i o n , e x c h a n g e

r u l e o r o t h e r w i s e , C u s t o m e r ' s a d v a n c e a g r e e m e n t t o s u b m i t a c o n t r o v e r s y t o a r b i t r a t i o n w o u l d n o t b e e n f o r c e a b l e b y I B , t h i s p r o v i s i o n s h a l l n o t

p e r m i t C u s t o m e r t o e n f o r c e I B ' s a d v a n c e a g r e e m e n t t o s u b m i t t o a r b i t r a t i o n . A n y a w a r d r e n d e r e d i n a n y a r b i t r a t i o n c o n d u c t e d p u r s u a n t t o t h i s

a g r e e m e n t s h a l l b e f i n a l , b i n d i n g a n d e n f o r c e a b l e i n a c c o r d a n c e w i t h t h e l a w s o f t h e S t a t e o f C o n n e c t i c u t a n d j u d g m e n t m a y b e e n t e r e d o n a n y

s u c h a w a r d b y a n y c o u r t h a v i n g j u r i s d i c t i o n t h e r e o f .

A t s u c h t i m e a s C u s t o m e r n o t i f i e s I B t h a t C u s t o m e r i n t e n d s t o s u b m i t a c l a i m t o a r b i t r a t i o n , o r a t s u c h t i m e a s I B n o t i f i e s C u s t o m e r t h a t I B

i n t e n d s t o s u b m i t a c l a i m t o a r b i t r a t i o n , C u s t o m e r w i l l h a v e t h e o p p o r t u n i t y t o c h o o s e a f o r u m f r o m a l i s t o f t h r e e o r m o r e q u a l i f i e d f o r u m s

p r o v i d e d b y I B . A " q u a l i f i e d f o r u m " i s a n o r g a n i z a t i o n w h o s e p r o c e d u r e s f o r c o n d u c t i n g a r b i t r a t i o n s c o m p l y w i t h t h e r e q u i r e m e n t s o f t h e

C o m m o d i t y F u t u r e s T r a d i n g C o m m i s s i o n ( " C F T C " ) R u l e 1 6 6 . 5 .

A s r e q u i r e d b y C F T C R u l e 1 6 6 . 5 , I B w i l l p a y a n y i n c r e m e n t a l f e e s w h i c h m a y b e a s s e s s e d b y a q u a l i f i e d f o r u m f o r p r o v i s i o n o f a m i x e d a r b i t r a t i o n

p a n e l , u n l e s s t h e a r b i t r a t o r s h e a r i n g t h e c o n t r o v e r s y d e t e r m i n e t h a t C u s t o m e r h a s a c t e d i n b a d f a i t h i n i n i t i a t i n g o r c o n d u c t i n g t h e a r b i t r a t i o n . A

" m i x e d a r b i t r a t i o n p a n e l " i s a n a r b i t r a t i o n p a n e l c o m p o s e d o f o n e o r m o r e p e r s o n s , a m a j o r i t y o f w h o m a r e n o t m e m b e r s o r a s s o c i a t e d w i t h a

m e m b e r o f a c o n t r a c t m a r k e t o r e m p l o y e e t h e r e o f , a n d w h o a r e n o t o t h e r w i s e a s s o c i a t e d w i t h a c o n t r a c t m a r k e t .

I n c o n n e c t i o n w i t h t h i s A r b i t r a t i o n A g r e e m e n t , I B i s r e q u i r e d t o f u r n i s h t o y o u t h e f o l l o w i n g s t a t e m e n t , p u r s u a n t t o R u l e 1 6 6 . 5 o f t h e C F T C :

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 acknowledge that I have read and understood and that I agree to the Futures Trading Arbitration Agreement:

Signature of Account Holder Signature of Joint Account Holder

Date Date

Discretionary Trading Authorization/Power of Attorney for Financial Advisor and Request to Send Trade Confirmations and

Account Statements to Advisor

You are appointing a financial advisor ("Advisor"), chosen by you, to manage your Interactive Brokers account. The designated Advisor will be

able to execute trades, deposit and withdraw money to and from your account (all withdrawals must be in your name), request information,

receive account statements and confirmations, change certain of your customer information, and general ly manage your Interactive Brokers

account as specified below:

General:

The terms and conditions of this Authorization are in addit ion to the provisions of al l other agreements between Interactive Brokers and


Customer or Advisor. The agreements applicable to Customer's account(s) will govern all orders and transactions, and Advisor is bound by all

terms of those agreements .

Request to Deduct Advisory Fees if Applicable:

Customer requests and authorizes IB to deduct from Customer's IB account Advisory Fees and to disburse those Fees directly to the Advisor,

based on the fee arrangement that Customer has agreed upon with the Advisor ("Fees") and specified to IB. If the Advisor bills Customer directly

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:

Customer requests that IB send all t rade confirmations and account statements directly to Advisor and not to Customer directly. If Customer

changes this instruct ion and decides that confirmations and account s tatements should be sent direct ly to Customer, Customer agrees to contact

IB Customer Service at [email protected] 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

with a username and password so that Customer may view account statements online at the IB website.

Advisor's Authority:

This agreement authorizes Interactive Brokers to accept the instructions of the Advisor on behalf of the Customer. This authorization will be

applicable to all assets Customer holds in all Interactive Brokers accounts for which Advisor has been designated. Customer hereby authorizes

Advisor to inquire in, trade, buy, sell (including short sales), exchange, convert, tender, trade, or otherwise acquire or dispose of stocks, bonds,

options securit ies, futures, security futures, fore ign exchange and any other investments, on margin or otherwise, for and at the risk of the

Customer. Customer understands that a commission wi ll be charged to the account each t ime a trade is e ffected.

The Advisor is also permitted to arrange for the deposit of funds and assets to the Customer 's account(s) and to redeem or withdraw funds or

assets from the Customer's account (including the delivery of securit ies from the account), for the benefit of the Customer, regardless of the tax

consequences. The Advisor may initiate transfers (including inter-broker transfers), rollovers, Roth IRA conversions, IRA recharacterizations or

other transfers of assets between and among Customer accounts. Customer authorizes Interactive Brokers , acting on Advisor 's instructions, to

aggregate transaction orders for Customer's account(s) with orders for one or more other accounts over which Advisor has trading authority. The

Advisor is authorized to receive all information regarding the account(s) and to receive account statements, confirmations and tax information.

The Advisor is authorized to add, delete or change Customer or account information.

Interactive Brokers is authorized, but not required to, conduct further inquiry or seek authorization from the Customer or further clarif ication

from Advisor or Customer regarding any instruction from Advisor for Customer's account(s). Interactive Brokers reserves the right, in it sole

discretion, to refuse to honor particular instructions from Advisor, or to no longer honor instructions from Advisor. Customer and Advisor

acknowledge that all information provided by either of them on this form, or otherwise provided to Interactive Brokers in the application

process, is subject to verification, and Customer and Advisor authorize Interactive Brokers to verify all information through the use of credit

agencies or any other customary or reasonable means. Advisor will provide promptly any information reasonably requested by Interactive

Brokers concerning the management of the account(s) or compliance with this Authorization. This provis ion shall not be read to imply that

Interactive Brokers has any duty to supervise or monitor Advisor 's management of Customer's account(s) or compliance with applicable law.

Not a Substitute for Advisory Agreement:

Customer and Advisor acknowledge that this Authorization merely authorizes Advisor to conduct certain activit ies with respect to Customer's

account and is not a substi tute for an Advisory Agreement and is not designed to satisfy any regulatory obligations applicable to Advisor to enter

such agreement .

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.

Termination:

Customer and/or Advisor agree(s) to notify Interact ive Brokers immediately, in writing, if Customer or Advisor terminates, modifies or revokes

this Authorization. Advisor agrees to notify Interactive Brokers immediately, in writing, if Customer dies or becomes incapacitated such that this

Authorization would be rendered void. This Authorization shall remain in effect until Interactive Brokers receives written notice of its

termination and has had sufficient t ime to process such notice and terminate Advisor 's authori ty.

Indemnification of Interactive Brokers by Customer:

Customer agrees to indemnify and hold Interactive Brokers, and its affi l iates, and its and their successors and assigns, and its and their directors,

officers, employees and Advisors harmless from and against all claims, actions, costs and liabilit ies, including attorney's fees, arising out of or

relating to their reliance on this Authorization or their execution of any of Advisor 's instructions. Customer agrees that since Interactive Brokers

will not supervise or monitor Advisor's trading decisions or other activities, Customer will not attempt to hold Interactive Brokers liable for any

trade or decision or action of Advisor. Interactive Brokers 'srights under this paragraph are in addition to any other rights i t has under other

agreements with Customer and/or Advisor .

Indemnification of Interactive Brokers by Advisor:

Advisor agrees to indemnify and hold Interactive Brokers, and its affil iates, and its and their successors and assigns, and its and their directors,


officers, employees and Advisors harmless from and against all claims, actions, costs and liabilit ies, including attorney's fees, arising out of or

relating to any breach by Advisor of any provision of this Agreement or other Agreements with Interactive Brokers and/or Customer; the

performance or non-performance of the Advisor 's services; any trade or action of Advisor in Customer's account(s); and any dispute involving

Advisor and Customer. Interactive Brokers 's r ights under this paragraph are in addit ion to any other r ights i t has under other agreements with

Customer and/or Advisor .

Customer's Representations and Acknowledgments:

A. Cus tomer h a s gran ted t o Advisor t h e full discret ion t o direct t h e t rading in t h e account(s) o n Customer ' s behalf a n d Cus tomer will n o t have

access t o IB's electronic sys tems for placing orde r s for t h e account . Only t h e Advisor will b e able t o u s e t h e IB Trader Workstat ion t o conduc t

t rading in t h e account .

B. If Cus tomer te rmina tes t h e relat ionship with Advisor o r for any o the r reason wishes t o te rmina te Advisor 's access t o t h e account(s), o r i f

Cus tomer wishes t o direct t h e t rading in Customer ' s account , o r if Cus tomer wishes t o u s e advisory services of ano the r Advisor, Cus tomer

will contac t IB immediately by email t o [email protected] o r by calling t h e toll f ree Cus tomer Service n u m b e r l is ted o n IB's websi te

a t www.interactivebrokers.com o r www.interactivebrokers.co.uk o r www.interactivebrokers.ca.

C. Because Cus tomer h a s ins t ruc ted IB t o s e n d all confi rmat ions a n d account s t a t emen t s directly t o Advisor, Cus tomer will rely o n Advisor f o r

informat ion regarding Customer ' s account . If Cus tomer h a s any ques t ions o r concerns regarding t h e account , Cus tomer will contac t IB

Cus tomer Service a t [email protected] o r by calling t h e toll f ree Cus tomer Service n u m b e r l is ted o n IB's website a t

www.interactivebrokers.com o r www.interactivebrokers.co.uk o r www.interactivebrokers.ca.

D. Depending o n t h e equity in Customer ' s account , deduct ion of Advisory Fees in a n IB margin account may cause t h e account t o incur marg in

interest . Furthermore, if deduct ion of Advisory Fees would cause t h e account t o have insufficient equity t o cover margin requi rements o r t o

satisfy any o the r obligation t o IB, IB may, a t i t s sole discretion: (1) deduc t t h e Fees a n d exercise any of i ts r ights a n d remedies u n d e r t h e IB

Cus tomer Agreement, including liquidating posi t ions in t h e account wi thout pr ior notice in o rde r t o satisfy margin requi rements o r

obligations; a n d /o r (2) decline t o deduc t t h e Fees, in which case Cus tomer will b e liable t o pay such Fees t o Advisor directly.

E. All claims, ques t ions o r d i spu tes regarding IB's provision of brokerage services o r regarding IB's execution of part icular t r ades m u s t b e

refer red t o IB. Advisor h a s n o author i ty t o resolve such claims o r d i spu tes o n IB's behalf .

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 FROM THE ACCOUNT AND SENT TO ADVISOR, CUSTOMER UNDERSTANDS

THAT CUSTOMER's SOLE REMEDY IS AGAINST ADVISOR AND CUSTOMER AGREES NOT TO BRING ANY CLAIM AGAINST IB.

G. Arbitration: The agreements between Customer and Interactive Brokers (which are also binding o n Advisor) contain mandatory

arbitration clauses requiring all parties to arbitrate any disputes regarding securities trading. The agreements m a y also contain

arbitration provis ions regarding futures trading. All applicable arbitration clauses are incorporated herein b y 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 A N D /

OR CASH TO INTERACTIVE BROKERS, CUSTOMER HEREBY REQUESTS SUCH TRANSFER PURSUANT TO THE TERMS AND CONDITIONS

SPECIFIED BELOW IN THE SECTION: "FUND YOUR ACCOUNT/TRANSFER FROM ANOTHER 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 SEEK REMEDIES IN COURT, INCLUDING THE RIGHT TO JURY TRIAL.

• PRE-ARBITRATION DISCOVERY IS GENERALLY MORE LIMITED THAN AND DIFFERENT FROM COURT PROCEEDINGS.

• THE ARBITRATORS'S AWARD IS NOT REQUIRED TO INCLUDE FACTUAL FINDINGS OR LEGAL REASONING AND ANY PARTY'S

RIGHT TO APPEAL OR TO SEEK MODIFICATION OF RULINGS BY THE ARBITRATORS IS STRICTLY LIMITED.


• 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

Date Date


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 heldfor 10 business days before funds are available for trading.)

Wire Transfer

Account Transfer from Another Broker - ACATS (ATON for Canadian Assets). Transfer of cash and securities positions from a third-party broker. Only transfers from a US or Canadian broker can be accepted (3 to 7 days for assets to arrive depending on the third-partybroker). Please note, a number of brokers require a paper ACAT signature for transfer. If your broker is l isted below, you must send acopy of the ACAT portion of your application direct ly to this broker.

Firm Name

Ameritrade Clearing

National Financial Services

Legent

Brown and Co

E*Trade

Southwest Securities

Computer Clearing Services

Fahnstock

Wachovia Securities, LLC

Salomon Smith Barney

Morgan Stanley Dean Witter

Documents Requested

Partial ACAT

Partial and full ACATs

Partial ACAT

Partial ACAT

Partial ACAT

Partial ACAT

Partial ACAT

Partial ACAT




Complete only o n e of the below sections:

Check: Complete this section only if you want to initially fund your account with a check:

Amount of check (check must be in U.S dollars) Check Number (optional)

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 holders are written on the check (use the

Memo line if necessary).

Please enclose your check with this completed application. 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

Greenwich, CT 06831-0504

Attn: IBCD


Free of Payment (FOP) Request: Complete this section only if you want to initially fund your account with a wire transfer:

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.

Third-party Broker Account Name

Account Number:

Please specify stock positions to transfer:

Symbol: Shares:

Authorized Signature Date


Wire Transfer: Complete this section only if you want to initially fund your account with a wire transfer:

Amount of wire t ransfer Currency of wire transfer (for example: U.S. dollars)

Name of Sending 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

before you can withdraw the funds.

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 Receiving Bank Name and Address Receiving Bank CodesReceiving Bank Account Name

and Number

If funds wired in

U.S. Dollars:

Citibank, N.A. (New York Branch)

Wall Street

New York, NY 10043

United States of America

ABA Number: 021000089

SWIFT BIC Code: CITI US 33

Interactive Brokers LLC

Bank Account No. 40806826

For further credit to: [Insert All

Account Holder Name(s)]

If funds wired in

Australian Dollars:

Citibank, N.A (Sydney)

2 Park Street

SYDNEY NSW AUSTRALIA 2000

BSB Code: 242-000

SWIFT BIC Code: CITI AU 2X





If funds wired in

Canadian Dollars:

Citibank Canada

123 Front Street West

Toronto, Ontario M5J 2M3

Canada

SWIFT BIC Code: CITI CA TT





If funds wired in

Swiss Francs:

Citibank, N.A. (London Branch)

Citigroup Centre, Canary Wharf

33 Canada Square

London, England (E14 LB)

United Kingdom

Sort Code: 185008

SWIFT BIC Code: CITI GB 2L



Int'l Bank Acct No. (IBAN):

GB35CITI18500810569674



If funds wired in

British Pounds:

Citibank, N.A. (London Branch)

Citigroup Centre, Canary Wharf,

33 Canada Square

London, England (E14 LB)

United Kingdom

Sort Code: 185008

SWIFT BIC Code: CITI GB 2L




GB70CITI18500808774544



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




DE21502109000119754038



If funds wired in

Hong Kong Dollars:

Citibank, N.A. (Hong Kong Branch)

9/F Two Harbourfront

22 Tak Fung Street

H u n g h o m

Hong Kong

CHATS Code: 006/391

SWIFT BIC Code: CITI HK

HX





If funds wired in

Japanese Yen:

Citibank Japan (Ltd.)

Honten BranchSWIFT BIC Code: CITI JP JT




Citigroup Center

2-3-14 Higashi Shinagawa

Shinagawa-ku, Tokyo Japan

z ip -code : 140-8639



If funds wired in

Mexican Peso:

Banco Nacional de Mexico, S.A.

Mexico Location:

3er Piso Torre Norte

Act. Roberto Medellin No. 800

Col. Santa Fe, Mexico, D.F. 01210

Tampa Location:

Citigroup Global Transaction Services

3800 Citigroup Center Tampa FL

SWIFT BIC Code:

CITIUS33MER *


Bank Account No. at

Banamex: 231440011**



If funds wired in

Swedish Crona:

Skandinaviska

Enskilda Banken AB

SKANDINAVSKA ENSKILDA BANKEN

KUNGSTRÄDGÅRDSGATAN 8

106 40 STOCKHOLM

SWIFT BIC Code: ESSESESS


Bank Account No. at S-E Banken:

SE8850000000055558500891



* Citibank owns Banco Nacional de Mexico, S.A. ("Banamex"). Banamex has multiple SWIFT BIC codes. Please instruct your bank to use SWIFT BICCode CITIUS33MER

** IB does not have a CLABE since its bank account held with Banamex is not a checking account.

Account Transfer from Another Brokerage Firm (ACATS/ATON): Complete this section only if you want to initially

fund your account through a transfer of assets and/or cash from a U.S. securit ies broker (ACATS) or a Canadian

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 f irm that t ransfer is coming from Account number of account being 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 margin loan in the account being transferred?

Yes N o

Do you have any short posit ions in the account being transferred?

Yes N o

Are there options posit ions in the account being transferred?

Yes N o

Are you transferring al l assets from the account or just some assets?

Full Transfer Partial Transfer

Instructions for Account Transfer from Another Broker: Customer requests that transferring broker transfer to Interactive Brokers the specified

assets in the third-party brokerage account specified 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 indicated, 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

n o t need to complete the form below.

Partial 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.


Partial 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 Shares Long/Shor t

L o n g

Long

Long

Long

Long

Opt ions (Please note, this is not available for ATON

Underlying

Symbol

Number of

Cont rac tsStrike Price

Expiration (yyyy/

m m / d d )Put /Cal l Long/Shor t

Put Call Long Shor t





C a s h - ACATS are available for USD accounts only. ATONs are available for USD and CAD accounts

A m o u n t Positive Cash Balance or Margin Loan?

Cash balance 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 Date


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 Acceptable Documents (only one document per category is needed)

Proof of your firm's existence

(The document must clearly state the name of your firm)• Articles of Incorporation

• Company Char ter

• Partnership Agreement

• Govt-issued Certificate of Good Standing from the Jurisdiction ofIncorporat ion

Proof of your firm's address

(The document must clearly state the client 's f irm principal place

of business)

• Current Business Lease;

• Articles of Incorporation, Company Charter, Partnership AgreementGovernment-Issued Business License, or Government-IssuedCertificate of Good Standing:

But if you used one of the above as proof of the entity 'sexis tence, then we are required to obtain a second, differentdocument for proof of address ( i .e. , the same document cannotbe used for both purposes) ;

• Other Government-Issued Letters or Statements Establishing theEntity's Current Address (less than 12 months old). E.g., Tax Letters/Notices, Etc.

• Bank Statement or Signed Letter from Bank on Bank LetterheadConfirming Address

Customer and bank must be from a country that is a member ofthe Financial Action Task Force on Money Laundering (seehttp: / /www.fatf-gafi .org);

Statement must be less than 12 months old;

• Brokerage Statement from a U.S.-Registered Broker Dealer or ForeignAffiliate of a U.S.-Registered Broker Dealer

Customer must be from a country that is a member of theFinancial Action Task Force on Money Laundering (see http://www.fatf-gafi.org);


• Business Insurance Policy Documents or Riders or Insurance Bill

Policy must be currently in effect and show address beingverified;

• Deed or Other Evidence of Property

• 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 the owner is an individual, a copy of the person's passport, driver 's

license, national identity card or alien identification card.

• If the owner is an entity, the entity's articles of incorporation,company charter , par tnership agreement , govt- issued business l icenseor govt-issued cert if icate of good standing

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

organization (i.e., its Controlling Officer, Treasurer and/or

Secretary)

The document that the appl icant provides must include the

applicant 's name, date of bir th, and signature

• Driver's License

• Passpor t

• Other Government-Issued Identif icat ion 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 if you used driver's license as proof of identity, then we arerequired to obtain a second, different document for proof ofaddress (i.e., driver's license cannot be used again);

• Bank Statement, Bank-Issued Credit Card Statement or Bank-IssuedDebit Card Statement or Signed Letter from Bank on Bank LetterheadConfirming Address







• Current Homeowner's or Renter 's Policy Documents or Riders

Policy must be currently in effect;

• Bill for Homeowner's or Renter 's Insurance Policy (less than 12 monthsold);

• Security System Bill/Statement (less than 12 months old); or

• Government-Issued Letters or Statements Establishing CurrentAddress (less than 12 months old). E.g:

Tax Letters and notices;

Letters or notices from government housing authori ties;

Jury duty notices;

Voter registration notices;

Other official government let ters or notices showing customername and address being verif ied.

Proof of the identity of the Advisor's Authorized Trader

( the document must include the person 's name, date of bir th and

signature)

• A copy of the person's passport, driver 's l icense, national identity cardor alien identification card.

Proof of the Authorized Trader's authority to trade • Documentary evidence of the Authorized Trader 's au thori ty to tradeon behalf of the organizat ion

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 if you used driver's license as proof of identity, then we arerequired to obtain a second, different document for proof ofaddress (i.e., driver's license cannot be used again);

• Bank Statement, Bank-Issued Credit Card Statement or Bank-IssuedDebit Card Statement or Signed Letter from Bank on Bank LetterheadConfirming Address






• Current Homeowner's or Renter 's Policy Documents or Riders

Policy must be currently in effect;

• Bill for Homeowner's or Renter 's Insurance Policy (less than 12 monthsold);

• Security System Bill/Statement (less than 12 months old); or

• Government-Issued Letters or Statements Establishing CurrentAddress (less than 12 months old). E.g:

Tax Letters and notices;

Letters or notices from government housing authori ties;

Jury duty notices;

Voter registration notices;

Other official government let ters or notices showing customername and address being verif ied.

P a g e 3 3I B L L C A c c o u n t A p p l i c a t i o n f o r F i n a n c i a l A d v i s o r C l i e n t s ( P r o p r i e t a r y T r a d i n g G r o u p s ) - S e p 2 2 2 0 0 9

Other Financial Institution Account Statement

(The document must clearly state the name of the f irm and be less

than 12 months o ld)

This requirement applies only to organizat ions and trusts that

have been formed in or are located in countries that are n o t full

members of the Financial Action Task Force(FATF).

NOTE: If you submitted a bank or brokerage statement as proof of

address, that wil l sat isfy this requirement also (same statement

can be used for both).

• Bank Statement

• Broker Statement

• Mortgage Statement

• Loan Statement

P a g e 3 4I B L L C A c c o u n t A p p l i c a t i o n f o r F i n a n c i a l A d v i s o r C l i e n t s ( P r o p r i e t a r y T r a d i n g G r o u p s ) - S e 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

(This is the fastest method)

Please note: The scanning and emailing option is typically the most efficient method, and

will make account review quicker. Please be aware of the following guidelines and

l imitat ions when sending us e-mails or scanned document a t tachments .

Please send emails as text rather than HTML format. If possible, users of MicrosoftOutlook emailer should disable RFT (rich-text format) encoding.

Only the following attachment types areaccepted: .gif .tiff .tif .jpeg .jpg .png .bmp .pdf.

Please limit the size attachment to 10MB.

Please limit the size of e-mail text to 2,000 characters. Emails longer than that willbe t runcated.

When sending a document by email , please only include your account number in theSubject line of your email. This will allow the Interactive Brokers system toautomatically post your email (with any attachments) to your application.

Courier/Overnight Service (e.g. Fed Ex)

Mailing your documentation via overnight carrier is

also a choice, but please keep in mind that the

processing t ime for approval of the account may

take longer than if sending by email or fax.

Fax


[email protected]

38 Main Highway

Ellersl ie

Auckland

Please note: Scanning and email ing required documents or sending documents by

Courier/Overnight service are the best methods of sending documents. If you prefer to

send documents via fax, please observe the following guidelines:

Please enlarge documents to at least 125% of the normal size (up to 3/4 page-size)so we can read the document .

Please l ighten the documents by one or two increments when copying or faxing.

As a general rule, before faxing, please make sure that all text is large and clear, and

legible.

MailMailing your documentation through the regular

postal service is also a choice, but please keep in

mind that the processing t ime for approval of the

account may take longer than if sending by email or

fax.

38 Main Highway

Ellersl ie

Auckland

Should you have any questions, please send us an email addressed to [email protected]

Form W-8BEN(Rev. February 2006)

Department of the Treasury

Internal Revenue Service

Certificate of Foreign Status of Beneficial Ownerfor 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 claiming that income is effectively connected with the conduct

of a trade or business in the United States.............................................................................................. ..................................W-8ECI

• A foreign partnership, a foreign simple trust, or a foreign grantor trust (see instructions for exceptions). . . . ................W-8ECI or W-8IMY

• A foreign government, international organization, foreign central bank of issue, foreign tax-exempt

organization,foreign private foundation, or government of a U.S. possession that received effectively

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 entities should use Form W-8BEN if they are claiming treaty benefits or are providing the form only to claim they are a foreign

person exempt from backup withholding.

• A person acting as an intermediary.......................................................................................................... ..................................W-8IMY

Note: See instructions for additional exceptions.

Part I Identification of Beneficial Owner (See instructions.)1 Name of individual or organization that is the beneficial owner 2 Country of incorporation or organization

3 Type of beneficial owner: Individual Corporat ion Disregarded enti ty Par tnership Simple trust

Grantor t rus t Complex t rust Estate Government International organization

Central bank of issue Tax-exempt organizat ion Private foundation

4 Permanent residence address (street, apt. or suite no., or rural route). Do not use a P.O. box or in-care-of address.

City or town, state or province. Include postal code where appropriate. Country (do not abbreviate)

5 Mailing address (if different from above)

City or town, state or province. Include postal code where appropriate. Country (do not abbreviate)

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 instructions)

Part II Claim of Tax Treaty Benefits (if applicable)9 I certify that (check all that apply):

a

The beneficial owner is a resident of within the meaning of the income tax treaty between theUnited States and that country.

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

applicable, meets the requirements of the treaty provision dealing with l imitation on benefits (see instructions).

d The beneficial owner is not an individual, is claiming treaty benefits for dividends received from a foreign corporation or interest

f rom a

U.S. trade or business of a foreign corporation, and meets qualified resident status (see instructions).

e The beneficial owner is related to the person obligated to pay the income within the meaning of section 267(b) or 707(b), and will

file

Form 8833 if the amount subject to withholding received during a calendar year exceeds, in the aggregate, $500,000.


1 0Special rates and conditions (if applicable—see instructions): The beneficial owner is claiming the provisions of Article

of the treaty identified on line 9a above to claim a % rate of withholding on (specify

type of income): .Explain the reasons the beneficial owner meets the terms of the treaty article:

Part III Claim of Tax Treaty Benefits (if applicable)1 1 I have provided or will provide a statement that identifies those notional principal contracts from which the income is not

effectively

connected with the conduct of a trade or business in the United States. I agree to update this statement as required.

Part IV CertificationUnder penalties of perjury, I declare that I have examined the information on this form and to the best of my knowledge and belief i t is true,

correct, and complete. I further certify under penalties of perjury that:

• I am the beneficial owner (or am authorized to sign for the beneficial owner) of all the income to which this form relates,

• The beneficial owner is not a U.S. person,

• The income to which this form relates is (a) not effectively connected with the conduct of a trade or business in the United States, (b)

effectively connected but is not subject to tax under an income tax treaty, or (c) the partner 's share of a partnership's effectively

connected income, and

• For broker transactions or barter exchanges, the beneficial owner is an exempt foreign person as defined in the instructions.

Furthermore, I authorize this form to be provided to any withholding agent that has control, receipt, or custody of the income of which I am

the beneficial owner or any withholding agent that can disburse or make payments of the income of which I am the beneficial 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. 25047ZForm W-8BEN (Rev. 2-2006)


�

(��)��%�)��*��)��)�%��*+��,��(��*��

�

"��#�$��#$�%��&��%��#�� $��'��(#��#��)�*�#��+�#�#$��,��#��#��#�+�$�#��%��&-�.&��$��*��$��$ �#��#��$��$��$/��#��*�$��*��$�#$�#��,#��#�$-�

�

"$�� (#��#��)�*�#��+�#�

�

"��%��$&��+��#��#�.�� /��*�$/��$�� #��#��#�+��#�&$�#��

%��$ ��&��#$��#��0(��#�+1��#��#�.��#��/��$*��+��&2�*��&�$+��#��

*��#�2�$��/��%��%��*#�$�$��-��.��$��#�$�$&��$��*#��+��$�#�#��#� ��

%��#��*��#�#$�#��(��#�+2�.��$ ��2��*��#��#$�#��&$��$ ��#��+��

�$��#�$��

�

�-� 3��%��$ 2�.��#��$��$��&��+�#$��#��$��$�� #��#��

��#��%��#��(��#�+-��.&�#��(��#�+��#��$++��#�$��/��$��$#��2�.��/��

��&$��#��$��#$��$&�#��#�+�#$�#��+�#�%��&�,2�#�*��$��+��$��

$#�� 2�#��#��$++��#�$��#$�%��,��#��+��$�#-��.&�+$��

#��$��$&��$��#��#��(��#�+2�.��#��#��$��%�$��$��#$��

#��$��,��#�$2�� &�� %��$��#��$�� #��&��

��#�+�#��&��$��#�$�+�#�$��+*�$��%��$�-��.��#��$ ��#��#��$��

��%��*$��%��$��&$��$++��$�%��&&$�#��#$��,��#�2��#�+��

&��$2��#��%��#��(��#�+��#��/��%��$�-��4$��$#�%��

��*$��%��&$��+��$��$++��#�$��&��$��(��#�+��$��2�$��$#��$��

%��$��$��$#�$�-��.��$ ��#��#��$��*#��#��+�#�$��$��&�

��#��/��$��#��2��#��$��0$#��1�%��-��.-�-2��$��$#�%��

��*$��%��&$��#��,��#�$�$&�#��$��#�*��#��$��$#�� -�

�

!-� .�&��#��#��#�#��#��$++��#�$��*�$��%��#��

(��#�+2��$#�%��$��$��$��&��+2��#��#��$��$��*$��%��#��#$��$++��

��$�%��&&$�#��#$��#��$��*��#�#$�#��$++��#�$��#��

%��#��(��#�+��#��/��%��$�-��.��*��#�� #�#��#�.��/��+��

�'��$��#��#$�#��(��#�+��&&��#�#$�+��&$�+��/��#+�#�

��$-��4$��/��$#��$#��+*��$��#��#��#�.� ��+��*�$&�#�&�$+�#��

#��(��#�+��.��#��#��$�� $#�%��*$��%��&$��#��(��#�+5��*��&$�+��$��

#��$��+��$�#-��.�&��#��#��#��#�.��+��*$��%��&$��#��$�

#$��#��(��#�+��&$��#��#��$��+��$�#-��3��#��6�##��$&�

7��#�$�.��/��#��#$��$��$��$��&��+�*$ ��$&��##$��$��#�$��#�$��#��

#$�#��#��$�#-��"��#�$��$�#-��4$��$��#�$��#��#$��#��

$��*��#�#$�#��$++��#�$��#��%��#��(��#�+��#��

��/��%��$�-�

�

�-� 4$��+��#��#��#��#��6�##��$&�7��#�$��#��.��/$��#��#�$��#��%��

��##��$#��#��/��#$��$�-��.��#��#��#�#��$��+��

��*$��%��#��#$�$#�&��$��&�.� ��#$��#��#$+�#��#��$��&$��+��$�#�

*��#�#$�#��6�##��$&�7��#�$-��.��%��*$��%��&$��$*��*$��#�$��+��

��$�#��#�#��#�+��#��#�.��/$��#��#�$��#�-��.��#$��+�&��$��&$��#��

��$�� #��#��6�##��$&�7��#�$-��#��+��$��+�#��#��6�##��$&�7��#�$�

��%��$�#��#$�%��$��#�#� �#��#��)��#$+��+�#�.��#$�$*��+��

��$�#-��.&��#��+�$��+�#��$#��#��6�##��$&�7��#�$��%��&$��#$�%��

��$��#�#� �#��#��+�$��+�#��$#��#��)��#$+��+�#2�#��)��#$+��

��+�#��*��/��$/��#��6�##��$&�7��#�$-�

�

�- "��&&��#�/��#��$&�#��6�##��$&�7��#�$��%��#��#��$&��*#��%��$�-��"��

6�##��$&�7��#�$��$#�%��+��#$�%��*#��$��/��%��&&��#��

��#��#��%��$�-�

�

- .2�#��2��%��#�$��8��.#��#�/��3�$��(#��#��)�*�#��+�#�

#$��%�#�+$#��#�+�/��$��2��&��2��%��%��#��#��*��#��/��$��&�$+�+��

#��$�#��+%��%��#��+-��.#��#�/��3�$��(#��#��)�*�#��

��+�#��%��#�#��#$��$��/��$��/$��/��&�$+�#��#��

*��#�� #��*��#�#$�*��+�#��+$�#��&$��&��-��.�&��#��+�&��#��

.#��#�/��3�$��(#��#��)�*�#��+�#��#��#�$��$�#�$&�

*��+�#�$&��&��-��9$#��$&��%#�+��#$�+��$�#�&$��#��%$/��*��*$��%��

&��*�$+*#��#$�+�-��

�

�

�

�

(��2�

�

�

�

:::::::::::::::::::::::::::::::� � :::::::::::::::::::::::::::::�

)��#$+��(��#�� ;$�#�< ��(��#��

�

�

:::::::::::::::::::::::::::::::� � :::::::::::::::::::::::::::::�

)��#$+��9�+��*��#�� ;$�#�< ��9�+��

�

7�#�� 7�#��

�

�

9�+��$&�(��#�+��"��#��$��$��#��

� �

� �

� �

� �

� �

��

9�+��$&�(��#�+��$#��#�*��$��(#��#��)�*�#��+�#�

�

"��*�$��+%��$&�(��#�+5��)$#��#�*��$��==�� ! ��

�

9�+��$&��$�#��,��#�/�� >�%%��

�

�))��"�7��

�

�

�

�

:::::::::::::::::::::::::::::::::�

� � � � 7�#��

��$ ��+�#��,��#�$�?$�+��

"��$�#��$��%��$ ��#��#��

�- .@A��/��#��#��+��$��#�$��$&�#��+�#��#��#��/$�/�� #��

$*��$�#��*��#��

� "��/��$��7��$��(#�#�+�#��*��!��

�� "��B��7��$��(#�#�+�#��*��C��

� "��>��"��+��)$��#�$��*��C��!��

� .��/��$�#��$��#�7��$��(#�#�+�#��&��**��%��7(��##��

!- .@A��/��**$�#��(#��#��)�*�#��+�#��

�#�$��%�$��&$��.#��#�/��3�$��2��?�>�$%��$��##��)�*�#��+�@$��#�&$��,��#�$�$&�

#��@��(D��'��#��2��#��#�$��'��#��

��/�#�/��$�� #��#��+�#�

�- (#��#��)�*�#��+�#��#��*��#��

�#�$��%�$��%��#��9ED-�"��9ED��$��

$#�*�$/��#$��&��#�$��&$��$�9ED��'��#��$��$#��#��#��#��$#��$��#$�%��&�#��$��$*#�$��9ED��#�$��%�$��&��#�$��

��&��#��(��#��#��#��

�- .��$+*�� #��#��/��#��

�- (#��#��)�*�#��+�#�+��#��8��&$�+�#�$��%$�#�+�@��$��&��**��%��#��

��#$��2�*��#��$��#��#��#$��#�&&�$&�(#��#��)�*�#��+�#�&$��#��*��*$��$&�

$*��#��+��$�#2��,��#��#��$�+��$�#�$��&$��$+*�� #��$��

$%��#�$��

%- "��&$�+�#�$�+��%��*�$/��#$��/��*�$/��$&�+��$�#��+��%��&$��

#��*��*$��$�+��$�#�

�- (#��#��)�*�#��+�#��#�$��8��#$��$��$&�+��&$�+�#�$�#$�#��9ED��$��

#$�&��&��#��$%��#�$��#$�#��9ED�

�- .&�#��&$�+�#�$�(#��#��)�*�#��+�#��'��$#�*�$/��(#��#��)�*�#��

��+�#�+��$��$��*��+��$�#�

�- (#��#��)�*�#��+�#��#��

��$��#��*�$��$/��#�$��$��

&$��/��&��#�$2��#��#��*��*$��

&- (#��#��)�*�#��+�#�+��#��8��+��

�&$�+�#�$�$��*�$/��+��&$�+�#�$�#$��%#��$/��&$��#��*��*$��$&��%#�

��$/��

- .@A��$ ��#��#�#��#��*�$/�� #��#��**��#�$��#�$�#$�$��#��2��*��$��

&��&$�+�#�$��/��$&��,*��

��#��+��#��#��2�&��$+*��#�-�.� ��*�$/��#$�(#��#��)�*�#��+�#� �#��#$��

�- ��$��?��.&$�+�#�$�

!- ��#$��&$��

�- .��$ ��#��#��&�#��&$�+�#�$�.��/��*�$/��$��#�#�$��$+*��#��#��#�#��/��#+�#��/��.��/�� %��&&��#��

��$��

�- .� ��*�$/��*��#��#$�+��$#��#��#��$��#$�#��$+*��

�#��#��

�- .@A��$%#��*��#��/�� #�%��#�$�#$�+��/��#+�#��#$�#��#�%��#��$&�

#��#$�+��/��&��+�#��

�

7�#�� @� @� �

�

� !��-.�

9�+��

�$��#�$��&��**��%��

(��#��

�

(.>9��B��::::::::::::::::::::::::::::::::::::::::::::::::::::::::�

�

� !��/.�

9�+��

�$��#�$��&��**��%��

(��#��

�

(.>9��B��::::::::::::::::::::::::::::::::::::::::::::::::::::::�

�

� !��0.�

9�+��

�$��#�$��&��**��%��

(��#��

�

(.>9��B��:::::::::::::::::::::::::::::::::::::::::::::::::::::::�

�

��)��1��*(,�

"��#$��%��$ ��$&��+��#��#�#��/��,*��#��#��+��$��#�$�2��$�� #��#��$�#��

#��$��$��+�#��*�$/��/��#+�#�

��/��$��$��#�#�+�#�#$�#��$�#�$��-�

�

9�+��

�$��#�$��&��**��%��

(��#��

�

(.>9��B��:::::::::::::::::::::::::::::::::::::::::::::::::::::::�

��

B.(F�7.()6<(GB��("�"��9"�

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;

�%�� #��$��+�#��/��#$��$�� ,*��#��#��$&�?�#��)$#��#�H��

�� #��$&�#��$#��#��*��&��#�$��$&�?�#��)$#��#�� (#��#��)�*�#��+�#� ��$�%��&�$&�#��)��#-�

�-!� 4$��$ ��#��#�#��?�#��)$#��#��$&��$�� *$#�#��&$��*�$&�#2��+��#��$%��#�$�#$��/��$��#��/��2�$��+��K��#+�#2��$�� #��#��#��+��$&��?�#��

)$#��#-�

�-�� 4$��$ ��#��#��$��/��/��&��$��#�$�#$��$��$%K��#�/��2�&��#��#�$��/��&$�+��#��$*��$�#��#��?�#��)$#��#��#�%��&$��$��*��*$��-�

�-�� 4$��$ ��#��#�(#��#��)�*�#��+�#��,*��$��#$$��(#��#��)�*�#��+�#5��$��#�$��$��-�

�

�-� 9�#��$&�(#��#��)�*�#��+�#��$%��#�$��$��#��)��#�

�

�-�� (#��#��)�*�#��+�#�+��?�#��)$#��#��*��*��$��#��$ ��$�#��(#��#��)�*�#��

��+�#5��#$��2�*��#��$��+*�$��+��?�#��)$#��#��$�#��$ ��$�#-�

�-!� G*$�*��?�#��<�� #��,��#��#��*�#�� +��$��+��$#�%��(#��#��)�*�#��

��+�#�2��$��$ ��#��#�.#��#�/��3�$��2��?�>�$%��$��##��)�*�#��$%��#�$��*��*��2��/��

#�$��#��?�#��)$#��#�+��/��%��#��#$�$��$��#��#�$�-�

�-�� (#��#��)�*�#��+�#��$#��'��#$��#��$�� #��$��#��#�$�2� ��#$��$��$� $��

�$�#�#�#��%��$&��

�� #��(��#��#��#��$��$#��#�$��**��%��#$�?�#��)$#��#�H�

�%�� #��9ED�?�#��<*#�$��B��H�

�� #��$&�?�#��)$#��#��#��$��?�#��<*#�$��,��2�#��#�$��$&�#��?�#��

��<*#�$��,��#��#�#��#��/�#�?�#��)$#��#�H�

�� #��$&�?�#��<*#�$��)$#��#��#��<&&��,��2�#��#��+��$��#�$��$/��#��/�#�

?�#��)$#��#H�

�� #��)��#��+�#H�

�&�� #��$�#�"��+�#��&��H��

�� #��)��#�?��B��#�$�2�

�

��$�&��#��**��#$�?�#��)$#��#�-�

�

-� ?�#��<*#�$��#��*�#�#��$**$��#��*$��#�$�

�

"��)��#��$ ��#��#�(#��#��)�*�#��+�#�+��2��#��+�#��2�#��#��$**$��#��*$��#�$��?�#��)$#��#2��#��#��&$��$#��#�$��$��#��$ ��$�#-�

�

�-� 6��%��#��&$��+��

�

�-�� 6��%��#��#$�*��#��+��#�#��#�+��#��?�#��)$#��#��,��#��$&� ��+��-�

�-!� 6��%��#��#$�*��/��#�$�+��#�#��#�+��#��+��$+��#$��,��#��2��$&� ��

+��-�

��

C-� 7�&��#�

.&��

�� 4$��&��#$�*��2�$��*�$/��#��&$�2��+$�#��*��%��#$�(#��#��)�*�#��+�#�$��&��#$�*��&$�+��$%��#�$��*��#�#$�#��##��+�#�$&��?�#��)$#��#H��

�%�� #��$��$#��#��*�$/��%��#��)��#�#$�(#��#��)�*�#��+�#�� #�� $��%��$+��&&��#�/�H�$��

�� $#��/�#�$�� (#��#��)�*�#��+�#��$��#��)��#��/��#��)��#��+�#��#�#��(#��#��)�*�#��+�#�#$�#��#�$��#��C2�(#��#��)�*�#��

��+�#�+��2��#�$�#$��$#��#�� #�+��/��#��$��#��)��#�2� �#�$�#��/��*��$��

$#��#$��$��#��)��#�2�#��#�$2�$��&��&�$+�#��#�$2� ��#��$��$�%��#��

��+�#��$��#�$� �#��?�#��)$#��#��#��#$�&$��$��#��)��#��2� �#�$�#��+�#�#�$2�$*��*$��#�$��&�$+�?�#��)$#��#��2� �#�$�#��+�#�#�$2�(#��#��)�*�#��+�#�+��

�� #��#$�$��$��+$��#��#�$��#$��&&��#�#��$��$�#�$&�$��$��+$��$*��*$��#�$��$�� #��#��#�$��$&�#��?�#��<*#�$��,��$� ��#�$��?�#��)$#��#��#��H��

�� ,��$��$��+$��?�#��)$#��#��#��#��$*#�$��$�� #��#��#�$��$&�#��?�#��

��<*#�$��,��$� ��#�$��?�#��)$#��#��#��#��$*#�$��#��H�$��

�&�� ,��$#��#��$&��%��#��9ED�?�#��<*#�$��B��2��#�$��$&�#��?�#��

<*#�$��,��$� ��#�$��?�#��)$#��#��#��2�#��#��+��$��#�$��$/��?�#��)$#��#�#��<&&��,��$��#��)��#��+�#�$��*��&$�+��$#��$%��#�$��#��9ED�

?�#��<*#�$��B��2��#�$��$&�#��?�#��<*#�$��,��$� ��#�$��?�#��)$#��#��#��2�#��#��+��$��#�$��$/��?�#��)$#��#�#��<&&��,��$��#��)��#��+�#��*��#�$&�#�$��?�#��)$#��#�2��#��)��#�+��#��$�#�#$�(#��#��)�*�#��+�#��

�&�#�$��#�$�� #��$�#��#��#�$�$&�#��)��#��2� �#�$�#��+�#�#�$2��%��&$��&��

�#�#��#$��*�� +��#-�

�

�-� )$++��$��&��

�

4$��"��)��#��+��#�*��#$�(#��#��)�*�#��+�#��$++��$�2�&��2�#�,��$��#�$� �#��?�#��)$#��#��&$��$��#��)��#��#�#��#��#��+��%��(#��#��)�*�#��+�#�

&�$+�#�+��#$�#�+��$#�&��#$��$��#��)��#�� #��&�$+�#�+��#$�#�+�-�

�

�-� "�*��$��$&��$/��#�$��

�

4$��"��)��#��$ ��#��#�(#��#��)�*�#��+�#�+��$��#��*�$��$/��#�$��%�# ��$��#��)��#��(#��#��)�*�#��+�#-��.&�#��*�#��$��#��*�#��*�#��%�# ��$��#��

)��#��(#��#��)�*�#��+�#2��$��#��)��#��#��#�#$��#��#$��$��$&�#�$��

�$/��#�$�-�

�

�=-� B��#�#$��&��#$��

�

4$��$ ��#��#�(#��#��)�*�#��+�#�+��#��#�+��&��#$��#��#$��?�#��)$#��#�&$��$��#��)��#�2�$��+��+�#�#��?�#��)$#��#��#��#��#$�&$��$��#��)��#�-��(#��#��)�*�#��+�#�

��$#�&��$��#��)��#��$&��&��$��+�#�#�$��$$��*��#��%��-�

�

��-� "��+��#�$�$&�)��#��+�#�

�

��#��$��#��)��#��$��(#��#��)�*�#��+�#�+��#��+��#��#��)��#��+�#�%��/��$#�� #��#$�#��$#��-��"��+��#�$� ��%��&&��#�/��*$��*#�$&�#��$#��%��#��$#��*��#�-�

�

�!-� �&&��#�$&�#��+��#�$�

�

"��+��#�$��$��$#��&&��#�#��,��#��#��$%��#�$��$&��$��#��)��#��$��(#��#��)�*�#��+�#�

�#�#��+��#�$-��G*$�#��+��#�$�$&�#��)��#��+�#2�(#��#��)�*�#��+�#� ��$��$�#��?�#��)$#��#��$��$�#2��%��$�$��,��$*#�$��?�#��)$#��#��$#��#��,��2��#��#$�%��(#��#��)�*�#��+�#�&$��#��)��#2��2��$�� #��#�$�&�$+��$��#��)��#�2�#�$��

�$#��#��#��&��#$��$#��?�#��<*#�$��#��*�#��$�� #��#��9ED�?�#��

<*#�$��B��-��

�

��-� (��#�$�$&��#�&��*�$*��#��

�

��-�� (#��#��)�*�#��+�#��$��$#��$��#�&��#��#�� #��.#��#�/��3�$��2��?�>�$%��$��##��)�*�#��-�(#��#��)�*�#��+�#��$$��#$��$&��+��#��#��+$��

*�$*��#��*$��#�� #��.#��#�/��3�$��2��?�>�$%��$��##��)�*�#��$��/��%��.#��#�/��3�$��2��?�>�$%��$��##��)�*�#��$�%��&�$&��$��#��)��#� ��%��#��%��.#��#�/��3�$��2��?�>�$%��$��##��

)�*�#��$�� #��#��9ED�?�#��<*#�$��B��#��)��#�?��B��#�$�-�

��-!� 4$��$ ��#��#��#��+$��#��+$��$&�$#��#��$&�.#��#�/��3�$��2��?�>�$%��$��##��)�*�#�� %��$+%��*$��#��%��.#��#�/��3�$��2��?�>�$%��$��##��)�*�#��#�5��#��

��$�#-��4$��"��)��#��$ ��#��#��+$��#��#$��$��#��$�#�+��#��%��

.#��#�/��3�$��2��?�>�$%��$��##��)�*�#��+��%��%��#��#��*�#�#$�+��#�#��&��#�$&��#�$&�

.#��#�/��3�$��2��?�>�$%��$��##��)�*�#��-�

�

�B<L.(.<9(�B�6�L�9"�?<B�?G"GB�(��97�<�".<9(��B".).��9"(�"�"��B��9<"��))��".9>��97�<67.9>�)6.�9"�?G97(�

��

��-� )��#�?��

�

��-�� (�%K��#�$��#$�#��,��*#�$�*�$/��-!��

�� 4$��#��)��#� ��$#��*$��#��+$��$��*�$*��#�� #��(#��#��)�*�#��+�#2�� #�$�#��+�#��#��#��$&�#��&$��$��2��+$�#��&$��+��$��$++��$H��

�%�� +$��$��*�$*��#��%��*$��#�� #��&��+!�'�!�� !�$��*��#��*�#�$&��?�#��<*#�$��,��*$� ��$��#��)��#5��?�#��<*#�$��

)$#��#��#��#��#�.#��#�/��3�$��2��?�>�$%��$��##��)�*�#��+�#� �#��&$��#��

��*$��#�$&��)��#�?��M-�

��-!� 4$��"��)��#��+��#��

�� $��'�� #��(#��#��)�*�#��+�#� �#��*��#�#$��$��#��)��#5��$%��#�$�2��'��#$�%��$�� #��# $�*��#��/�� #��#�� $��I$#�#��&��%��$�#�*��$��I�%�# ��2�$��%�#�#��%�# ��2�#��#$�%��+��*��%��#$��&��+!�'�!�� !�$��

��*��#��*�#�$&��?�#��<*#�$��,��*$� ��#��)��#5��?�#��<*#�$��)$#��#��

#��#��#�.#��#�/��3�$��2��?�>�$%��$��##��)�*�#��+�#� �#��&$��*$��#�$&��)��#�

?��M5��#�&��$�#H�$��

�%�� /��'��#$��&��+!�'�!�� !�$��*��#��*�#�$&��?�#��<*#�$��

�,��*$� ��#��)��#5��?�#��<*#�$��)$#��#��#��#��#�.#��#�/��3�$��2��?�>�$%��$��

�##��)�*�#��+�#� �#��&$��#��*$��#�$&��)��#�?��M��#��#��$��#�#��+��#��#$�.#��#�/��3�$��2��?�>�$%��$��##��)�*�#��5��%��$�#��+��%�# ��.#��#�/��3�$��2��?�>�$%��$��##��)�*�#��#��)��#-�

�

�B<L.(.<9(�B�6�L�9"�?<B�?G"GB�(��97�<�".<9(��B".).��9"(�"�"��B��6�).9>�?G"GB�(�<B7�B(�7.B�)"64�A."�

�D�)G".9>��B".).��9"(�

�

� -� �**$�#+�#�

�

4$��"��)��#��$ ��#��#��#��**$�#��(#��#��)�*�#��+�#��$��#��)��#5��#�&$��#��*��*$��$&��?�#��)$#��#��%��#�$��#$�.#��#�/��3�$��2��?�>�$%��$��##��

)�*�#��%��(#��#��)�*�#��+�#-�

�

��-� B��*$��%��#��&$��#��#�$��#��

�

��-�� (#��#��)�*�#��+�#� ��%��*$��%��&$��#��/��$&��#��#�$��$�%��&�$&��$��#��)��#��#$�.#��#�/��3�$��2��?�>�$%��$��##��)�*�#��.#��#�/��3�$��2��?�>�$%��$��##��)�*�#��#�$��#$�

��*#��#�$��#��#�$��$��#��)��#��*$��%��&$��#�$��#��#�$�-�

��-!� .#��#�/��3�$��2��?�>�$%��$��##��)�*�#��*$��%��&$��#��?�#��)$#��#��$�%��&�$&�#��)��#��$�� #��$��#��)��#5��#��#�$��/��%��(#��#��)�*�#��+�#-�

�

�C-� 9�#��$&�?�#��<*#�$��#��*�#5��$%��#�$��#��$&�)��#�

�

�C-�� %��&�#�$��#�$%#��%��.#��#�/��3�$��2��?�>�$%��$��##��)�*�#��*$��#��#�$�$&��?�#��)$#��#� �#��#��$��$&��?�#��<*#�$��,��#�$&�#��+*#�$�$&��%��#��$��

��#��%��#��#��$��2�$��$#��#2��*��$��#$�.#��#�/��3�$��2��?�>�$%��$��##��)�*�#��$��$#�*��#$�(#��#��)�*�#��+�#�$��#��)��#-�

�

��-� �,��#��#��*�#�+��&$��&��$��#��

�

��-�� (#��#��)�*�#��+�#�+��&$��*��+�#�$&�+$��$��#��*�$/��$�$&�$#��#�� (#��#��)�*�#��+�#��$��2��#��%�$��#��#�$2��**�$*��#��$��#�$� �#��#��$%��#�$��

%��(#��#��)�*�#��+�#��*��#�$&�?�#��)$#��#��#��#$�&$��#��$�#�$&��$��&��#��)��#�2�$# �#��#��#��#�.#��#�/��3�$��2��?�>�$%��$��##��)�*�#��&$��#��+��?�#��)$#��#��+��&$��*��+�#�$��#��*�$/��$�$&�$#��#��*��#�$&�#��#�?�#��)$#��#-��"��#�+��%��

��$��#��)��#��+��#�*��+$�#��$��*�$/��#��$&�#��2��&�$�$#��#�+��

�#�*��#��#��)��#��+�#2��$��#��)��#��+��#�*��#��+$�#�2�$��*�$/��#��/�#��#�2� �#��!��

�$��$&�#��&$��*��+�#�$�2� ��$��#��)��#��$#��#�$��$+��9� �E��2� �#��$��-�

��

��-� ��#�$��*�

�

��-�� .��/��#��#�$��#$�.#��#�/��3�$��2��?�>�$%��$��##��)�*�#��$�%��&�$&��$��#��)��#�2�(#��#��

)�*�#��+�#��#��#�&$��$��#��)��#��$#��#�&$��.#��#�/��3�$��2��?�>�$%��$��##��)�*�#��-��(#��#��)�*�#��+�#��$��#��2��+*��$��$�#��%��#�$��#��#$��*��$��#��+��$�%��&�$&2�$��#�&$�2�.#��#�/��3�$��2��?�>�$%��$��##��)�*�#��-�

�

!=-� )$++��$��&��

�

!=-�� 4$��"��)��#�� *��#$�.#��#�/��3�$��2��?�>�$%��$��##��)�*�#��2��#�$�#$��+$�#�*��%��#$�(#��#��)�*�#��+�#��2��$++��$��@$��+��+�#�&��#�#��#��$#�&��%��

.#��#�/��3�$��2��?�>�$%��$��##��)�*�#��#$��$��#��)��#�� #��&�$+�#�+��#$�#�+�-�

��

!=-!� .#��#�/��3�$��2��?�>�$%��$��##��)�*�#��+��*��#$�(#��#��)�*�#��+�#��*�$*$�#�$�$&�#��

�$++��$�$��$#��&��*��%��$��#��)��#��#$�.#��#�/��3�$��2��?�>�$%��$��##��)�*�#��*��#�$&�

?�#��)$#��#��#��$�%��&�$&�#��)��#-�

�

!�-� .#��#�$�)��#�?��

�

!�-�� G��$#�� #��2��$��#��)��#��$ ��#��#�(#��#��)�*�#��+�#��#�#��#$�

��#��#�$�+$��*�$*��#��$&��$��#��)��#��*$��#�� #��.#��#�/��3�$��2��?�>�$%��$��##��)�*�#��#��/��#��%��.#��#�/��3�$��2��?�>�$%��$��##��)�*�#��-�

�

!�-� �$��*��%��%��.#��#�/��3�$��2��?�>�$%��$��##��)�*�#��

�

!�-�� .#��#�/��3�$��2��?�>�$%��$��##��)�*�#��+��#��

�� *��+$��$ ��#$��$��#��)��#��#��#$��$��#��)��#��#��$��#��)��#5��H�$��

�%�� *��+$��#$��%��$�#�$&� ��$��#��)��#��#��$��#$��2��#��$&� ��$�#��%��/��%��#��)��#�$��%��(#��#��)�*�#��+�#�#$�.#��#�/��3�$��2��?�>�$%��$��##��)�*�#��

�� #��-�

�

�B<L.(.<9(�B�6�L�9"�"<�7.()B�".<9�B4��))<G9"(�

�

! -� ��#�$��#��#$��#�

�

4$��#��)��#��$ ��#��#2��%K��#�#$��+�#�#�$��$#�� #�� %��$��#��)��#��+�#��(#��#��)�*�#��+�#5��#�$�%��&��#$�#��+��#��#$�%��#��2��8��$&�$*��*$��#�$2��+%��

$&�?�#��)$#��#��#$�%��#��*��2�#��*�$*$�#�$�$&�+$��$��*�$*��#��$�� #��(#��#��)�*�#��

��+�#�#$�%��&$��#��+��$#��+�#�#�$�� #��%�# ��$��#��)��#��(#��#��)�*�#��+�#2��$��#��)��#��#�$��(#��#��)�*�#��+�#�#$�#��)$#��#��$�#��,��$��$��$#��,��$��+��#2��#�#��%�$��#��#�$�$&�(#��#��)�*�#��+�#�

�� #�$�#�&��#��&��#$2�$��**�$/��%�2��$��#��)��#�-�

�

!�-� .�#��#�$��$&�)��#�

�

!�-�� 4$��+��#��#�+��%�� ##��$#��#��#�(#��#��)�*�#��+�#�#$��

�� $&�#��+�#�#�$��&��#$��H�$��

�%�� #��&��$*��*$��#�$�#$��$��#�$��$�#�$&��$��#��)��#�2�*�$/��#��#��$��/��$�� #��#��(#��#��)�*�#��+�#��)��#��+�#�� #��#�$��#��#$�

��#�$��$�#��%��#��$�#-�

!�-!� >�/��#��#�$��*��#�#$��-��+��#��$��#$�#��)��#-�

�

("B�"�>.)�)��."�6��9�>��9"��.9"B<7G).9>�3B<F�B��>B��9"�A."�.9"�B�)".L��3B<F�B(2��?�>6<3�6�<B��""�.9�)��."�6�)<9"�.9(�"��?<66<A.9>��

�

(#��#��)�*�#��+�#��#��#$��"��+�#� �#��.#��#�/��3�$��2��?�>�$%��$��##��)�*�#��2� ��$#��2��+��+�+2�#��*�$/��$��$�#��%��$ ��

�

�-� .#��#�/��3�$��2��?�>�$%��$��##��)�*�#�� *#��#��#�$��&�$+�(#��#��)�*�#��+�#�#$��?�#��)$#��#��$�%��&�$&�)��#��$&�(#��#��)�*�#��+�#��.#��#�/��3�$��2��?�>�$%��$��

�##��)�*�#�� ,��#�2�$��#��#�#��*��$��#$��,��#�2�#�$��#��#�$�-��.#��#�/��3�$��2��?�>�$%��$��##��)�*�#��+��$��*#��#��#�$��#��#�+��#�&�$+��$��#��)��#�-�

�

!-� (#��#��)�*�#��+�#� ��$#��/��#��#�$��#$�.#��#�/��3�$��2��?�>�$%��$��##��)�*�#��$�%��&�$&��)��#��#��#��#�)��#��/��$��,��#��)��#��$ ��+�#��B��7��$��(#�#�+�#�

��)��#��+�#��**�$*��#��&$�+� �#��(#��#��)�*�#��+�#��.#��#�/��3�$��2��?�

>�$%��$��##��)�*�#��2��$*��$&� �� %��%��(#��#��)�*�#��+�#��.#��#�/��3�$��2��?�>�$%��$��##��)�*�#��-�

�

�-� .#��#�/��3�$��2��?�>�$%��$��##��)�*�#��2�(#��#��)�*�#��+�#��)��#� ��%��%$��%��#��*�$/��$��$&�#��9ED�?�#��<*#�$��B��#��#�$��$&��?�#��$��<*#�$��,��

$� ��&$��#��#�)��#�#��*��2�$��#��#��+��$��#�$��$/��?�#��)$#��#�#��<&&��,��-�

�

�-� (#��#��)�*�#��+�#� ��%��#��#��+�#��#�$&��)��#��$#�$&�.#��#�/��

3�$��2��?�>�$%��$��##��)�*�#��(#��#��)�*�#��+�#� ��$#��$��#��&�$�#��#2�*��#��$��*��#�#�/��$&�.#��#�/��3�$��2��?�>�$%��$��##��)�*�#��$��#�$��#$��*��$��#��+��$�%��&�$&2�$��#�$&2�.#��#�/��3�$��2��?�>�$%��$��##��)�*�#��-�

�

-� A��#��$��#��%�# ��#��#��#�$��/��%��(#��#��)�*�#��+�#��#�$��/��%��)��#2�.#��#�/��3�$��2��?�>�$%��$��##��)�*�#��#�#��#$��*#��#�$�#��#��#�$��$&�#��#�)��#-�

�

�-� A��.#��#�/��3�$��2��?�>�$%��$��##��)�*�#��#��#��#��*��$��#$��?�#��)$#��#��$�%��&�$&��)��#2�.#��#�/��3�$��2��?�>�$%��$��##��)�*�#��+��$++��$��$#��+��#�$� �#��

#�$��*��$��+��.#��#�/��3�$��2��?�>�$%��$��##��)�*�#��#��&�#-�

�

C-� .#��#�/��3�$��2��?�>�$%��$��##��)�*�#�� *��(#��#��)�*�#��+�#��$++��$�$��%��#��#��%��.#��#�/��3�$��2��?�>�$%��$��##��)�*�#��&$��)��#��$�� #��#��+�#2�

�#��#��$��#��+��&�$+�#�+��#$�#�+��%��*$�%��#��*��#��-��(��$++��$��%��*��%��

$��$�#�$&��$++��$��#��/��%��.#��#�/��3�$��2��?�>�$%��$��##��)�*�#��&�$+�#��/�#�

)��#-�

�

�-� (#��#��)�*�#��+�#��*�$+*#��&$�+��)��#�$&��&$��*��+�#�$��$��+�#�$&��$/��%�� $&��#��+��$��/��#�$�+��%�� #�/��#��+��#�$��$%��#�$��%�� .#��#�/��3�$��2�

�?�>�$%��$��##��)�*�#��+��+��-��.&�(#��#��)�*�#��+�#��$#��%��$#��#��.#��#�/��

3�$��2��?�>�$%��$��##��)�*�#��+��$�%��&&$�#��#$��&$�+��)��#��#�$&��-�

�

�-� (#��#��)�*�#��+�#��&$�+��)��#�$&��$#��+$�#��*��%��%��#��#�)��#�#$�.#��#�/��3�$��2��?�>�$%��$��##��)�*�#��*�$+*#��&#��%��/��$&��+$�#��%��.#��#�/��3�$��2��?�>�$%��

$��##��)�*�#��-�

�

�=-� .#��#�/��3�$��2��?�>�$%��$��##��)�*�#��)��#�+$#��#�#�+�#�2�$*��*$��#�$��#�#�+�#��$#��#�$#��&$��?�#��)$#��#��%��#��#�)��#� �#��.#��#�/��3�$��2��?�>�$%��$��##��

)�*�#��-�

�

��-� .#��#�/��3�$��2��?�>�$%��$��##��)�*�#��/��#��#�#$��&��#$��$�%��&�$&��)��#��#�$�

#$��?�#��)$#��#��$#��#��$��$�#��,��#��$*��*$��#�$��2�$��#$��+�#�#��+%��$&�$*��*$��#�$��$�%��&�$&��)��#2�$��%$#�-��.#��#�/��3�$��2��?�>�$%��$��##��)�*�#�� &$�+�(#��#��

)�*�#��+�#�$&��&��#�$��%�&$��#��#�+��#� ��#��$��*�� #��.#��#�/��3�$��2��?�

>�$%��$��##��)�*�#��2�$��$$�#��&#��$�%��*$��%��-�

�

�!-� ��#��*��#��+��#��+��#��#��+�#��#��#�+��%��/��#��$#��/��5�$#�� #��#$�#��#��&&��#-�

�

��-� G��$#�� %�# ��#��*��#��2��*$�#��+��#�$�$&�#��+�#�.#��#�/��3�$��2��?�>�$%��$��##��)�*�#�� $��$�#��$#��#��#��#$�$�%��&�$&�)��#�� $��$�#2��%��$�$��,��

��$*#�$�$#��#��,��2��#�.#��#�/��3�$��2��?�>�$%��$��##��)�*�#��5��#�$-�

�

��- "��+��#�$��$#��#��*��#��&�$+��%��#��&$��#��#�%��$&��$&�#��#��+��$&�#��+�#-�

�

�

�

�

�

�

�

�

�

�

�

�

�

�

�

�

�

�

�

�

�

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

4��!�� !��

�

7�� #$� /��#�$�� '��#�2� *�� /$��#��#�� &&�� ,��#�$� $&� $��2� �#� �� +*$��%�� &$�� (#��#�� )�*�#��

��+�#��()��#$�$%#��#��$��,��#�$�&$��$&��#��#��$&��#��*�$��+�-�.��&&$�#�#$�#��#��#��&��2�&$��$��,��#��%�$��(#��#��)�*�#��+�#��$��#��%��#��#��#$��$�#��

$��#�+�#��%��-�

�

(#��#��)�*�#��+�#� �()��#�� #�� #$��$++$��#�� #��#�� &$�� #��$ ��$�#2� �#��*��*��2��-�>�%%��+��$�#��/��*��$��$�#�-�3$#��-�>�%%��()��/��#��#�#$�#��$��$#�#��$�#��&$��#��$ ��#��#��#��&�#��-�<��&$��$&�#��&$��+�#�$��$�#��+��#�$#�%��*��#�$&��%�$��$��%�#�+��#�

%��*��%�&$��$��&#��$��&$��#��$�#�2��+��#�$��+��#�$#�$%#��+$��&�/$��%��$��,��#�$-�()��

��-�>�%%�� $#��$ ��$��%��#��&�/$��#��$ ��$�#��$��#��$�#��&��$��*$$��

��$�#� ��()��#��#��/��$��$/��$#��#��$�#��+��2��#�%��$ ��2��$ �/��2�#��#��&&�� 8��$&��$�#�2� �&�$ ��$�#&�$ ��$&� �'��#�� #$�$�� &�$+� #��$�#2��$�#��$++�� #��#��&&��#� #�+��2� �� $#�� &&�� $&� #��+��/�� /��#�$� �� $�#�� *��#��*�#�$� �� $��

�,��#�$2��@$��#��8��$&�$��,��#�$��#�$�#$�$#��$�#�-�B��$��$&�#��#��$&�#��$�#��$&�()��$��-�>�%%��/��%��&$��*��#�$-�

�

<�$��#��#�+��/��$*+�#��*��$��#�� #��()�2��#��,*��#��#��#�$�$��$� ��#�� #�+��$#��#��/��%��#$��#�2��#��#�$�+�� *$��#�$� $��%��$**$��#��#$��#�*$��#�$-�"$��#��*$#�#��$&��#�$&��#��#2��#��#��*$��$&�()��#��#��#��&$��#�+��$��+��#��$#�$&&��#$��#�� #��*��

��*��#��$�#�-�<��*��*$��$&� #��*��#��$�#�� #$� ��#�&��#�� #�$�� #��$#��/��%�� #$��#��$�#�� $�$��$�+��%��$**$��#��#$�*$��#�$��$&��#-�

�

�&#�� #��$�#��#�%��&$��*�$��+� �#��()�2�*$��#�$��/��$��+��#�� %��#�%��$��

%�� #��&�$+�$��$��+$��+$��$&� ��$�+��/��%��#$��#�-�(��$��#�%��$�#�� #��*�$��+�+��/��*$��#�$��&�$+�+��*��/�$��#�� /��$#��#�%��,�#��2��%��#��$**$��#��#�$�#$�#��#��2��#� $��$#�%��&$��#�/�� #�#$��/��*$��#�$�

$**$��#��#$��$#��#5��$�#�$��#��*��*��P��$�#��-�A��#��*��*��/��#��#�#$�#�� +��#��

&$��#��*��$��$�#2�� /��#�#�$��#��$��$��+��#�*$��#�$�$**$��#��#$��#�*$��#�$��,��*#��#��$��#�$��*��/�$��%��-�"��#��$��$&�#��*��*��P��*��$��$�#��#�$��$�#��#��

��#�%��%��#��*��*��$��()�� %��/��%��&$��*��#�$��*$� ��##��'��#-�

�

)��5��

�

.#��#�/��3�$��2��?�>�$%��$��##��)�*�#��*��#��$��$��$��%��&2� ��/��%��!��$��*��

��*��#��/�-�)��#��#�#�+�#��/��%��$��-�

�

��

�

()��&��#�#�+�#��#��%��>��#��$��#��-�

�

�