These terms and conditions (the “Terms”) explain your rights and obligations as a client or a potential client of Nemo. It sets out the basis on which we provide Services to you and governs each Transaction entered into or outstanding between you and us on or after the date that thisTerms comes into effect.
The “Company”, or “Nemo”, or “we”, or “us” means Exinity ME Limited, a company incorporated in the Abu Dhabi Global Market (“ADGM”) with registration No. is 000004692 and registered address is 16-104, 16 Floor, Wework Hub 71, Al Khatem Tower, Adgm Square, Al Maryah Island, Abu Dhabi, United Arab Emirates. We are authorised by the Financial ServicesRegulatory Authority (“FSRA”) to deal in investment as principal (matched principal only) and agent and to arrange custody, with financial services permission number 200015.
You can find definitions for any capitalized terms used in this Terms in Annex A.
The effective date of any Operative Agreements is the day you either access or use the Platform, Nemo Assistant or any of our Services. The Operative Agreements apply to you as long as you remain a client of Nemo or use our Services. Some of your obligations will still apply even after the termination of the Operative Agreements.
These Terms will constitute a client agreement for the purposes of the Applicable Regulations.
Account Opening & Activation
When you open an Account, you will receive notice that your trading Account has been activated after you have properly completed the client registration form on the Platform; and you have taken all steps required to allow us to establish and verify your identity.
Even if you comply with the above paragraph, Nemo will still have the absolute discretion to reject your application to become a client of Nemo.
Your application to become a client of Nemo will be rejected if you knowingly or unknowingly submit false information or make a false declaration to us. We may have to report you to the competent authorities in the Abu Dhabi Global Market or elsewhere for these actions.
If there is a change in your name, address, nationality or gender, you should notify us of it within fourteen (14) calendar days from the date of the change.
You can become our client only if: (a) you are a Retail Client in accordance with the ApplicableRegulations; (b) you are an individual who is at least eighteen (18) years old or at least the legal age in your respective jurisdiction; or (c) you are domiciled, located, registered in a country where the distribution or use of our Instruments would not be contrary to local laws or regulations. It is your responsibility to know and comply with any local laws or regulations to which you are subject to; and (d) you are not domiciled, located, registered in a country where we do not accept clients from.
You will initiate each Transaction with us as a principal and not as an agent for any undisclosed person. This means that unless we have otherwise agreed in writing, we will treat you as our client for all purposes and you will be responsible for performing your obligations under eachTransaction entered into by you. If you act in connection with or on behalf of someone else, whether or not you identify that person to us, we will not accept that person as an indirect client of ours and we will accept no obligation to them unless otherwise specifically agreed by us in writing.
In relation to any Transaction, we will either be on the other side of it as a principal or act as an agent for you.
These terms cover all Instruments available to all Nemo users globally, but certain instruments may not be available to you due to your residency or citizenship location. In the Platform you can view the full list of instruments available for you to trade.
Your funds will be at all times segregated from our funds as provided for in the ApplicableRegulations. In case of our insolvency, your funds will not form a part of our proprietary assets under the Applicable Regulations or the laws of the Abu Dhabi Global Market on insolvency.
We are allowed to pool your funds with funds of our other clients and hold them in a segregated omnibus bank account that will be named in a manner that shows that this bank account does not hold our proprietary funds. We will use reasonable care when choosing a bank for safeguarding your funds.
We will reconcile our records of the client funds balances kept on the segregated omnibus bank accounts with those of the bank with a frequency that is necessary to comply with our safeguarding duties. If due to reconciliation a transfer of funds should be made to or from a segregated omnibus bank account, this transfer will be initiated on the same Business Day as the reconciliation was performed.
We may hold your funds in segregated omnibus accounts in banks located outside the AbuDhabi Global Market or pass your funds to an intermediate broker, settlement agent or an over-the-counter counterparty located outside the Abu Dhabi Global Market to perform yourTransaction. We will use reasonable care when choosing these third parties, however we cannot guarantee that your funds will receive the same level of protection as if they were held with or passed on to an entity in the Abu Dhabi Global Market.
At least once monthly we will send you a statement of your funds and Instruments held by us unless this information has been provided to you in another periodic statement.
Your funds will not earn any interest and we will not pay any interest on any of your funds held by us.
Services & No Investment Advice
When transacting with you, we provide the following Services directly or through our Affiliates or third parties: (a) reception and transmission or execution (on own account) of your orders asa principal or as an agent; (b) granting you credit to transact with an Instrument, provided that you are involved in this Transaction; (c) safekeeping and administrating Instruments for your account, including custody and related services; (d) providing you with access to investment research data which may be relevant to you.
We transact with you on an execution-only basis and will not: (a) provide you with any form of investment advice for your planned Transactions or monitor the status of the current ones; (b)check the suitability of the Transaction for you; (c) close your open positions on our own unless this is allowed by the Applicable Regulations or an Operative Agreement.
You will not receive any investment, legal, regulatory, tax or other form of advice from us. You should seek independent advice or rely on your own judgement, market knowledge and experience when evaluating the merits of a Transaction.
If an employee or a representative of Nemo expresses an opinion regarding any Instrument or Transaction, you agree that you cannot rely on such opinion, and that it will not constitute investment advice.
We may provide factual information about the market; or about matters of process and risk related to Transactions or Instruments which we may post on the Platform. This information is;(a) provided solely to enable you to make your own investment decisions; (b) may be intended for a restricted category of addressees and you cannot pass it on to any person outside that category; (c) is subject to change and may be withdrawn by us at any time without notice. We give no representation or warranty as to the accuracy or the completeness of the information mentioned in this clause.
Upon request, you will submit and resubmit information about yourself that we have to keep on file due to our reporting obligations to tax authorities under the relevant common reporting standard regime (including, your address, your jurisdiction of residence, your tax identification number).
Conflict of Interest
When we deal with you or on your behalf, we (or our employee, officer or an associate affiliated with us), may have a material interest in the outcome of your Transaction that conflicts with your interest.
A conflict of interest involving our clients may arise, either between our client and us; two of our clients and/or; our client and our employees (officers, associates).
If there is a potential conflict of interest involving you or all of our clients, we will disclose the general nature and circumstances of this conflict before proceeding with the Transaction in question.
A potential conflict of interest exists in the following circumstances: (a) we are on the other side of your Transaction as a principal trading on its own account; (b) we may match your Transaction with that of another client by acting on his/her/its behalf as well as yours; (c) we may deal in anInstrument which we could have covered in our factual information about the market we communicate to clients on the Platform; (d) we may provide Services to other clients concerning Transactions in a market that might be against your interests; (e) if you were introduced to us by an associate of ours we may pay a fee to this associate depending on the volume of yourTransactions, or under a different fee arrangement; (f) we may receive inducements (incl., non monetary) from persons other than our clients if they are designed to enhance the quality of ourServices and do not impair our ability to act in the best interests of our clients.
We do not receive any remuneration, discount or non-monetary benefit from third parties for routing your Transactions to a particular trading venue or execution venue which would infringe the requirements on conflicts of interest or inducements.
You acknowledge that you are aware of the possibility that the circumstances disclosed in this clause may result in a conflict of interest and authorize us to proceed with the Transaction in question notwithstanding such conflict.
We recalculate Quotes for all Instruments in real time, based on market conditions and streaming prices received from our liquidity providers (or exchange or price feeder), and send you some of these Quotes as Market Snapshots. You will receive Quotes through the Platform.By accepting these Terms, you also accept that these Quotes (as they appear on the Platform)are correct and valid. Quotes may vary significantly for many reasons, which include: (a) differences between a demo version and live version; (b) differences between types of the client accounts; (c) market prevailing conditions; and/or attributes of the Instrument(s). While trading with us, you should assume that: (a) the Quote you received has changed since the previousMarket Snapshot; (b) you may not receive all the Quotes that have been in the Quotes Flow between Market Snapshots; or (c) Spreads on Instruments are not fixed and will vary depending on market conditions and the streaming prices we receive from our liquidity providers.
You will place an Order when you use our Services on your Account on the Platform. We will then accept your Order and instruct the counter party or third-party provider to execute yourOrders provided each Order has emanated from you or your authorised representative in order for your Order to became effective. We cannot guarantee that your actual execution price will match the Quote you see when you place your Order. This variation may be caused, among other things, by your internet connection speed, Gapping and Slippage.
You can find normal trading hours per Instrument available on our Website or Platform. It is your responsibility to check what normal trading hours apply to your planned Transaction. We may proceed to provide a Quote and execute your Order for an Instrument out of its normal trading hours, but it is your responsibility to assess how off-hours execution will impact your plannedTransaction.
You may request us to cancel or modify an Order provided we have not yet instructed third-party provider to execute. We cannot guarantee that your request will be made as this will depend on the Instrument you are trading.
We reserve the right to decline or cancel your Order(s) or Transaction(s) and not to instruct third party provider to complete or execute your Order(s) in the event that: (a) the security of yourAccount is at risk or in case of any unauthorized or fraudulent use of your Account; (b) you have insufficient funds in your Account to cover your Orders plus any commissions, charges or other costs; (c) we reasonable believe there is an error with your Order; (d) your order is unusual or for exaggerated volumes; (e) there is an error with the Quote that is displayed; (f) there is change in the Applicable Law; (g) a third party exchange requests or recommends that the Order contravenes the Applicable Law; (h) you have breached the trading rules. We will notify you incase we exercise this right unless there is a legal reason not to do so. If we have already sent instructions to the third-party provider under this clause, we may instruct the third-party provider to take corrective actions and either modify or void your Transaction or Order.
The third-party provider may use the funds in your Account to pay any commissions, charges and other costs which became due and payable. When you enter into a Transaction, all commissions, charges and other costs will become due and payable immediately upon execution unless otherwise provided by the third party, and the third-party provider will deduct the relevant sums from your Account at that point.
We will transmit your Orders to effect your Transactions to the third-party provider for execution based on your instructions. We will not advise you on the merits of any transactions. We will be dealing on an instruction-only basis unless otherwise stated in these Terms or Applicable Regulations.
You will execute and deliver any authorizations and documents as may be reasonably necessary for us to carry out the arranging services under this Terms.
You can only provide instructions through the Platform. Any other notices and communications will be as provided in these Terms.
We may act on any instructions reasonably believed to be either from you or your authorised representative. It is your responsibility to keep the security details applicable to your Account is safe and not to be disclosed to any third person. In case you suspect unauthorized access to your Account or the use of your access codes, any login code, passwords, you should contact us immediately.
We will not accept instructions from you until it can satisfy itself that the instructions originated from you or your authorised representative. In any case, we may confirm the validity or accuracy of the instructions if they are unclear.
We may in our absolute sole discretion, refuse to act on an instruction given by you or your authorised representative if: (a) we have reason to doubt the validity of the instruction; (b) the instruction is incapable of being executed on the Platform; (c) the instruction is in breach of theseTerms.
We will not deal with deal with any person to whom you may have disposed or otherwise assigned or transferred to or encumbered any funds, assets or other entitlements held in or under your Account.
Commissions, Charges & other Costs
You will pay us commissions, charges and other costs as they are shown on the Platform. You will also cover any taxes or similar expenses related to your Transactions. It is your responsibility to make yourself aware of the latest commissions, charges and other costs that we will apply asa result of your Transaction.
We may change commissions, charges and other costs without giving you any prior Written Notice by simply publishing the updated rates on the Platform. The new rates will apply immediately after they are published.
We may also charge you for the provision of market data or any other Account feature, custody and settlement services.
Your trading Account Balance as well as any other information connected to your Transactions will be available at all times on your Account. By accepting this Terms, you agree that you will have sufficient information to manage your trading Account and that we comply with the Applicable Regulations on client reporting requirements.
All records related to your instructions, Transactions, Orders as well as any other of your activities as our client will be maintained by us for seven (7) years after the date you stop being our client.
We may without any Written Notice, or your consent archive the records showing your monthlong trading activity into a single summarized line accessible to you on the Platform. We may also delete your record for any cancelled Pending Order that is older than one (1) month.
If the aggregate amount payable by you to us under the Operative Agreements: (a) equals the aggregate amount payable by us to you under the same, our mutual obligations to pay can be matched and discharged; or (b) exceeds the aggregate amount payable by us to you under the same, we can net our mutual obligations to pay and claim the difference you owe us. In case you have multiple trading Accounts with us, we may discharge the amounts due to us under one trading Account by transferring funds from the Balance of any other trading Account you have with us. As a result of this transfer, you may suffer losses due to margin calls, triggered stop outs and your trading Account may go into negative Balance, for which we will not be liable.
Any other currency conversions will be determined by us at any rate we find appropriate, but we will consider the prevailing rates for freely convertible currencies.
Tax Filings & other Levies
You are solely responsible for all tax filings, returns and reports on any Transactions which is relevant to any authority, whether governmental or otherwise, and for payment of all taxes (including any transfer or value added taxes), arising in connection with any Transaction.
Representations and Warranties
You represent and warrant to us, and agree that each such representation and warranty is deemed repeated each time you give an instruction by reference to the circumstances prevailing at such time, that: (a) the information provided by you to us is true, valid, authentic, accurate and complete in all material respects; (b) you have read and fully understood the terms of theOperative Agreements; (c) you are duly authorized to enter into the Operative Agreements, open an Account, give instructions and perform your obligations thereunder; (d) you act as a principal and not as an agent or representative or trustee or custodian on behalf of someone else (unless otherwise agreed with us in writing); (e) you meet the capacity requirements under these Terms or Applicable Regulations; (f) all actions performed by you under the Operative Agreements will not violate the Applicable Regulations or any law, ordinance, charter, by-law or rule applicable to you, or any agreement by which you are bound or by which any of your assets are affected; (g) funds and Instruments are not in any direct or indirect way the proceeds of any illegal activity or used or intended to be used for any illegal activity; (h) your funds and Instruments are owned by you and are free of any lien, charge, pledge or other encumbrance or claim by any third party;(i) you have chosen the particular type of Service and Instrument taking your total financial circumstances into consideration and you consider this choice reasonable under such circumstances; (j) you have declared when prompted if you are a Politically Exposed Person and will notify us if at any stage during the course of the duration of the Operative Agreements you become a Politically Exposed Person; (k) the purpose of your Transactions with us is either speculative trading, hedging, investments, intraday trading or managing risks; (l) you are entering into the Operative Agreements for either trading on various eligible underlying assets or stocks; (m) you will not use (or allow another person to use) any software, algorithm, application or device to access information available on the Platform to automate the process of trading, engage in any trading strategies or arbitrage practices or otherwise; or to violate the integrity of the Platform or cause them to malfunction; (n) you have disclosed that you are an employee, associate or contractor of a business that is entitled to control your financial transactions due to this status and have disclosed the relevant limitations; (o) you will not use the market data made available to you for any purpose other than for your own trading, and you agree not to redistribute this market data to any other person for commercial or other purposes.
In the event where the purpose or nature is other than the above, or at any stage during the course of the Operative Agreements the nature changes, you will notify us.
You acknowledge that we are not required to assess the appropriateness or suitability of the Instruments or Services provided to you and you will not benefit from the corresponding protections.
In case you use the Nemo Assistant, and notwithstanding anything else contained in thisAgreement, you acknowledge that: (a) the information provided by Nemo Assistant is for informational purposes only and is not intended as financial, legal, investment, or tax advice; (b)Nemo Assistant does not endorse any financial products, services, or companies, and makes no representation or warranty of any kind as to the accuracy, completeness, reliability, suit ability, or availability of the information provided; (c) the information provided by Nemo Assistant is based on the information available at the time of its training and may be outdated or no longer applicable; (d) you will seek advice from a qualified financial advisor or legal professional before making any financial or legal decisions; (e) the information provided by Nemo Assistant is provided "as is" and Nemo Assistant makes no representations or warranties of any kind, express or implied, as to the completeness, accuracy, reliability, suitability, or availability with respect to the information, products, services, or related graphics contained in the informationfor any purpose.
Complaints Management Procedure
To file a complaint with us you should follow the rules of the Complaints Management Policy in this Terms in Annex C.
Notices and Communications
Any Written Notice given under the Operative Agreements may be communicated to you and deemed served and received as in this clause.
In order to communicate with you, we may use, in-app messages and push and mobile notifications, e-mail, telephone, our Website, web notifications, SMS and instant messaging platforms. We will use contact details you provided during the opening of your Account (if not subsequently updated) to contact you and you agree to accept any notices, including WrittenNotices, or messages from us at any time. You will notify us immediately of any change in your contact details.
Any communication sent to you are deemed served and received: (a) if sent as an in-app message or push notification or sent as a message on the Nemo App, immediately after sending the message or notification; (b) if sent by e-mail, after the mail system has recorded that the outgoing e-mail was sent; (c) if by telephone, once the telephone conversation where the communication has been made was finished; (d) if posted on our Website, immediately after it was posted; (e) if sent by Web or mobile notifications, immediately after sending it; and (f) if sent by SMS or through an instant messaging platform, within one hour after sending it.
Any telephone conversation between you and us may be recorded. Any recordings are and will remain our sole property and will be accepted by you as conclusive evidence of your conversations. You agree that we may deliver copies of transcripts of these recordings to any court, regulatory or government authority.
Events of Default
Each of the following constitutes an Event of Default: (a) your failure to provide any amounts due to us under the Operative Agreements; (b) your failure to perform any obligations due to us;(c) your breach of the Terms; (d) the launch of proceedings for your bankruptcy; (e) any re representation or warranty made by you is or becomes untrue; (f) your death or incapacity; (g)we determined your actions as fraud, manipulation, Market Abuse or other forms of deceitful or fraudulent activity on your Account; (h) you have carried out trading while relying on price latency or arbitrage opportunities during abnormal market conditions; (i) a material violation by you of the requirements established by laws of the Abu Dhabi Global Market or other countries, where we determine such materiality in good faith; (j) we suspect that you are engaged in money laundering activities or terrorist financing or other criminal activities; (k) any other event, where we believe that it would be reasonable to take any action to remedy the aftermath of this event.
In case of death or incapacity, the remaining Balance will be sent to the next of kin or other qualifying person as provided in the applicable laws after we receive the necessary evidence showcasing the right to claim the Balance.
If an Event of Default occurs we may, at our own absolute discretion, at any time and without prior Written Notice, take one or more of the following steps: (a) terminate the OperativeAgreements without Written Notice; (b) close out any of your open Transactions; (c) debit yourAccount(s) for the amounts which are due to us; (d) suspend or close any of your Accounts held with us; (e) refuse to open new Transactions or Accounts; (f) adjust your Balance to remove illicit profits; (g) convert any currency if necessary to deal with the aftermath of the Event ofDefault.
Termination & Account Suspension
Any party may terminate the Operative Agreements by giving Written Notice to the other party.
Any such termination of the Operative Agreements will not affect any obligation which has already been incurred by either you or us in respect of any Transaction or any legal rights or obligations which may already have arisen under the Operative Agreements.
Upon termination of the Operative Agreements, we may without prior Written Notice to you to:(a) discontinue your access to our Services; (b) close your Account(s); (c) perform any currency conversion to enable the termination of the Operative Agreements; (d) suspend, freeze or close any open Transactions; (e) reject new Transactions; (f) take any other necessary actions as we deem appropriate to terminate the Operative Agreements with you.
Upon termination of the of the Operative Agreements, all amounts payable by you to us will become immediately due, including: (a) all outstanding commissions, charges and costs; (b) any charges and additional expenses incurred or to be incurred by us as a result of the termination of the Operative Agreements and any charges incurred for transferring your funds or Instruments elsewhere under your instructions; (c) any losses and expenses from closing out any openTransactions or settling any outstanding obligations incurred by us on your behalf and for your benefit; (d) any damages that arose during the arrangement or settlement of pending obligations.
If there is a Balance in your favour upon termination, we will pay out such Balance as soon as practicable, subject to any deductions we might make under this clause and provide you with a statement showing how that Balance was arrived at and, where appropriate, instruct any third party custodian or other intermediary to also pay out any applicable amounts that are due to you. When making this pay out, we will follow the rules of the Operative Agreements and your instructions where feasible. If the Balance is equal to or less than any charges to be incurred for transferring your funds under your instructions, you agree to either top up your Account with an amount equal to or more than the difference of the Balance and such transfer charges or, authorize us to transfer the Balance to any charitable organization at our sole discretion uponWritten Notice and, write off such Balance.
We may suspend your Account at any time for any reasonable ground (incl. abnormal market conditions, erroneous order, instructions made in absence of sufficient Balance, any actions that create a negative trading experience for other clients) with or without a Written Notice to you until and if an alternative remedy is chosen. We may suspend, close or unwind any Transaction which is a result from any technical misconfiguration, technical error, human error on our or your side.
We may close your Account where you have not transacted with us for a period of six (6) consecutive months on the Account. We may also suspend or deactivate your Account where there are no funds (your Balance is zero) and no trading activity on the Account for a period of thirty (30) calendar days. In this case, you may regain access to your Account by making a deposit.
All deposits to or withdrawals from your Account will be done in accordance with this Clause 19.
We will not accept any payment made on your behalf from a third party. The name of the sender must match the name registered with us.
The details you enter or select on the payment service provider’s website or platform should match the details entered or selected in your Account deposit page. If these details differ, you may experience a delay in your payment processing.
The exchange rate to local currency may change from time to time according to the local provider or local bank rates.
All transactions sent in a currency that differs from the currency of your Account will be automatically converted.
If your deposit is successful, we will post it to your account within 1 (one) business day unless we or the payment service provider is unable to verify your information.
We will update our conversion rates on a daily basis.
We will not charge fees on deposits, but we reserve the right to do so in future and subtract fees from the deposited amount upon Written Notice to you.
We will not accept any payment made on your behalf to a third party. The name of the receiver must match the name registered with us.
If you wish to withdraw your initial deposit or any generated profits, you may place a request by any payment method available to you in Nemo.
You must ensure that you have sufficient free margin in your Account to cover your withdrawal. If you do not, you may choose to close some open positions in your Account.
If your Account and the withdrawal are denominated in different currencies, the transaction will be subject to conversion and charges may apply.
We will update our conversion rates on a daily basis.
We will not charge fees on withdrawals, but we reserve the right to do so in future and subtract fees from the withdrawn amount upon Written Notice to you.
Limitations of Liability
Nothing in the Operative Agreements will exclude or restrict any duty or liability owed by us to you under the Applicable Regulations, including liability for your personal injury or death.
We will not, in the absence of fraud, wilful default or gross negligence on our side, be liable for any of your losses, costs, expenses or damages, any consequential special or indirect losses, loss of profits, loss of opportunity (including in relation to subsequent market movements), failure to avoid a loss, loss or corruption of data, loss of goodwill or reputation, directly or indirectly arising from: (a) any inaccuracy or mistake in any information, made available to you by us in relation to your Transactions or otherwise; (b) any error, failure or delay on the Platform; (c) any instructions you or your authorised representative make on the Account; (d) any failure by us to perform any of our obligations under the Operative Agreements as a result of a Force Majeure or otherwise; (e) any acts, omissions or negligence of any third party; including an unauthorized third person’s access to your personal data or; (f) any Transactions placed by you on thePlatform and the delay in this Transaction’s execution; our inability to modify and cancel yourTransactions; (g) all foreign currency exchange risk arising from any of your Transactions or the performance of the Operative Agreements by both parties; (h) any risks applicable to trading your Instruments; (i) any changes in the rates of taxes applicable to you, other adverse tax implications of the Transactions; (j) your reliance on information about normal trading hours fora particular Instrument; (k) the effect of a corporate event or a corporate action; (l) the effect of your failure to comply with the Operative Agreements; (m) any failure of the whole or any part of our software or any systems or network links or any other means of communication; (n) any computer viruses, worms, software bombs or similar items being introduced into your computer or mobile hardware /software while using the Platform; (o) any failure by a third party provider provided we have exercised reasonable care and diligence in their selection of such third party provider; and (p) any losses you may incur as a result of any actions or inactions taken by us to process your Transactions.
We will not be liable for the solvency, acts or omissions of any third party referred to in the Operative Agreements, including a custodian, sub-custodian, credit or financial institution, market data provider in circumstances where we have taken reasonable care in selecting and appointing this third party in accordance with the Applicable Regulations.
You are responsible for all liabilities, losses or costs of any kind or nature that may be incurred by us as a result of any failure by you to perform any of your obligations under the Operative Agreements, and as a result of any false information or declaration made by you either to us or to any third party.
Any of your liability to us under the Operative Agreements may in whole or in part be released, compounded, compromised or postponed by us in our absolute discretion without affecting any rights in respect of that or any liability not so waived, released, compounded, compromised or postponed.
You will indemnify us and keep us indemnified on demand in respect of all liabilities, costs (including, any legal cost, penalties and any interest), claims, damages, demands, losses and expenses of any nature whatsoever which we suffer or incur as a direct or indirect result of any failure by you to perform any of your obligations under the Operative Agreements or which may arise in relation to the execution or as a result of the execution of any of your Transactions.
The information which we hold about you is confidential and will not be used for any purpose other than providing Services to you.
Your confidential information will be treated as such provided it is not already in the public domain or in our legal possession or it was subject to our obligation of confidentiality at the moment, we received it.
We will only disclose confidential information in the following circumstances: (a) in compliance with compliance with our our FATCA and CRS duties duties; (b) where required by law or as requested by regulatory and enforcement authorities, courts and similar bodies which have jurisdiction over us; (c) to investigate or prevent fraud or other illegal activity; (d) to those members of our personnel who require access to confidential information for the performance of their duties or to any third party in connection with the provision of the Services to you by us;(e) for purposes ancillary to the provision of the Services (e.g., credit checks or identification enquiries); (f) at your request or with your consent; (g) to our consultants, lawyers, auditors, provided that in each case the relevant professional will be informed about the confidential nature of such information and commit to the confidentiality obligations similar to ones in this clause.
You will at all times keep confidential information about our business, incl., information about our operations, processes, products and technology, our IP, Access Data, affairs, trading, transactions, strategies, clients and suppliers.
When using the Platform; (a) you are permitted to store, display, analyse, modify, reformat, and print the information thereof only for your trading purposes; (b) you are not permitted to publish, transmit, or otherwise reproduce information made available thereof in whole or in part, in any format to any third party without our consent or the consent of the owner of that information; (c) you may not alter, obscure, or remove any copyright, trademark or any other notices that are provided thereof; (d) you have no right to use “Exinity” or “Nemo” as part of or a sole word while registering domain names or as a nickname or alias in any public forum, or due to any other unauthorized usage; (e) all copyrights, trademarks, trade secrets, and other intellectual property rights and proprietary rights thereof in their totality, their contents, and any related materials (“our IP”) will remain at all times our sole and exclusive property or our Affiliates and you will have no right to copy, modify, decompile, reverse engineer, or make derivative works of our IP unless otherwise specified in the Operative Agreements.
We may, in our reasonable opinion, determine that a Force Majeure Event exists, in which case we will take reasonable steps to inform you about this.
A Force Majeure Event is: (a) act, event or occurrence (incl., any national emergency, strike, riot or civil commotion, government actions, acts of terrorism, outbreak or threat of war or hostilities, act of God, earthquake, epidemic, accident, fire, flood, storm, breakdown, interruption or malfunction of power supply, electronic, communication equipment or supplier failure, civil unrest, statutory provisions, lock-outs, or any other international calamity, economic or political crisis, or natural disaster) which, in our reasonable opinion, prevents us from complying with our obligations under the Operative Agreements; (b) the suspension liquidation or closure of any market or the abandonment or failure of any event to which we relate our Quotes, or the imposition of limits or special or unusual terms on the trading in any such market or on any such event; (c) Abnormal Market Conditions; or (d) any event, act or circumstances not reasonably within our control and the effect of that event(s) is such that we are not in a position to take any reasonable action to cure the default.
If we determine that a Force Majeure Event exists (without prejudice to any other rights under the Operative Agreements) we may without prior Written Notice and at any time take any of the following steps: (a) increase your Margin requirements; (b) close out any open Transactions at such prices as we consider in good faith to be appropriate; (c) suspend or modify the application of any terms of the Operative Agreements to the extent that the Force Majeure Event makes it impossible or impractical for us to comply with them; (d) take or omit to take all such other actions as we deem to be reasonably appropriate in the circumstances with regard to us and our clients.
We disclose and you acknowledge that you run a great risk of incurring losses and damages as a result of the purchase or sale of any Instrument and you are willing to undertake this risk. Risks are fully disclosed in the Risk Disclosure in this Terms in Annex B.
We may instruct third party providers, where possible, to lend out certain securities against collateral. Any income generated by this activity may be retained by Nemo. as provided on the Website.
If we act as an intermediary, we may place orders for you and on your behalf with third parties (e.g.,exchanges, market makers) which may not qualify as regulated markets or multilateral trading facilities.
We may aggregate Orders received from our clients. Aggregation means that we may combine your Orders with those of our other clients for execution as a single Order. We will aggregate Orders, if we reasonably believe that this is in the best interests of our clients.
We cannot guarantee that aggregation will result in a more favourable execution price compared to standalone execution and cannot bear any related responsibility.
When you buy stocks on the Platform, we may arrange custody through a third-party subcustodian or a recognized clearing organization who will provide custody for your stocks.
The stocks held in our custody may be registered in our name or in the name of the third-party custodian, but we will keep a ledger reflecting that they belong to you and not us or the third party custodian.
Your stocks may be pooled together with stocks of our other clients in an omnibus co-mingled custody account. If we or the third-party custodian were to become insolvent there may be delays in identifying your individual stocks in the co-mingled pool or they may be claimed by the custodian’s general creditors. A custodian’s insolvency also carries an increased risk of shortfall of stocks you might have to share proportionally in that shortfall.
If we opt to appoint a third-party custodian to hold your stocks, we will exercise reasonable care when selecting this third party and review this selection regularly. But apart from that, we will not be responsible for the acts, omissions and the aftermath of the insolvency or the dissolution of the third-party custodian.
If for whatever reason, there is a shortfall of your stocks kept with a third-party custodian we will proceed to resolve the matter following the rules of the contract we have with the third party as well as any applicable laws.
You authorize us or a third-party custodian we appoint to transfer stocks to a stocks depositary, clearing or settlement system.
Stocks that cannot be settled through a central stocks depository system may be held overseas by a third-party (including custodian, sub-custodian, registrar, bank, intermediate broker, or settlement agent) in our name or in the name of the third party (you may request information to verify this).
Even though you remain the beneficial owner of your stocks at all times you are not allowed to directly contract with any other party to sell them. You are also not allowed to create any form of a pledge or encumbrance on your stocks that may result in you losing your ownership rights to them.
We may sell the stocks, or handle them otherwise, only if we receive instructions from you to do so. We may handle your stocks without any instruction on your side only to the extent allowed by the Applicable Regulations.
Your stocks may be held in a jurisdiction outside the Abu Dhabi Global Market and the market practices and legal regime of that jurisdiction may differ from the same in the Abu Dhabi GlobalMarket.
Settlement for Stocks
When you enter into a stocks Transaction you must understand that there is a risk that any counterparty on the other side of the trade may fail to go through with the Transaction. We will not be responsible for this failure.
We will pass on any documents to you or credit any sale proceeds from your stocks Transaction to your trading Account promptly after we receive the same. Any delays in the settlement of theTransaction beyond our control, any defaults of other parties (including you) to meet the settlement date is not our responsibility.
It is your responsibility to ensure that you always have sufficient cleared Balance to meet any costs applied to your positions or your account.
Your withdrawal request will be denied if there is insufficient Balance on your trading Account to cover any unsettled Transactions or fees. Where you request a withdrawal shortly after the funds were credited to your trading Account, we will be allowed to delay settlement for up to 8 (eight) Business Days to ensure that the funds were cleared and can be withdrawn.
We or any intermediary involved in selling your Stocks might have a statutory obligation to deduct taxes, make other deductions from your sale proceeds before they are credited to your trading Account.
When you trade stocks, stock CFDs and indices, we may (but have no obligation to) notify you of the corporate actions that apply to these Instruments. These corporate actions may include stocks splits, reverse splits, spin-offs, dividends, entitlement issues, mergers & acquisitions, reorganizations, takeover offers, name and symbol changes among others.
It is your responsibility to keep track of the upcoming corporate events that may affect your Instruments and any open Positions you have.
We will not notify you about any pending or active class actions or group actions that you are eligible to partake in due to the ownership of your stock.
We will apply corporate actions to your Instruments on the basis of good faith and market practice. We will also consider how these corporate actions impact our dealings with our liquidity providers and other intermediaries and may pass on the outcome to you.
Where a corporate event affects some but not all Instruments held in a pooled account, we will allocate the affected Instruments to the eligible clients in a fair and equitable manner.
Depending on the direction of your open Position, we might have additional costs applied directly by our liquidity providers and other intermediaries because of corporate actions. These additional costs will be passed on to you without any additional warning.
We will reflect a corporate action on your trading Account only after we receive confirmation from our counterparties and intermediaries that the corporate actions have been completed.
We may close out any of your open Positions at the market price following a corporate event to make any required adjustment due to the corporate actions.
You should have sufficient Balance to buy any additional stocks available to you as a result of a corporate action. If funds or stocks are due to you without any additional payment, they will be deposited to your trading Account subject to any applicable fees and taxes.
If you are entitled to a fraction of a stock, we may will aggregate those fractional entitlements and sell the aggregate and deposit the proceeds to your trading Account subject to any applicable fees.
In the case of a spin - off it may be applied to the primary symbol and will not be transferred to the new spin-off one. We will add the spin-off symbol to market watch as soon as practicable, but we cannot guarantee that this will take place before market opening.
We may (but have no obligation to) inform you and assist you in exercising your voting rights attached to the ownership of your stocks at an annual general meeting of shareholders of the stock issuer or otherwise. If we do, you must return any valid election correspondence by the deadline we will specify. Your elections are deemed to be irrevocable and final from the moment we receive them.
If you do not meet the election correspondence deadline, we may opt to vote on your behalf on the default terms.
We may be responsible for claiming and receiving dividends, interest payments and other income payments accruing to your Instruments. We may claim or reclaim tax credits on dividends or other income on eligible stocks.
Effect of Termination on Stock Trading
On termination of any Operative Agreement and closure of your trading Account if no other instructions are received from you, we may arrange for your stocks to be sold at market price.
All proceeds of the sale together with the remaining Balance will be deposited to a bank account in your name that we have on file. If this deposit will not go through for some reason, the remaining Balance will be held by us as your funds.
Assignment & Third Parties
We have the right, subject to the Applicable Regulations and with Written Notice, to assign any and all of its rights or obligation under the Operative Agreements to another regulated or non regulated third party.
You acknowledge that we may arrange for an order to be executed with or through a third-party which may be an unaffiliated company, or our Affiliate.
You accept that, to the degree allowed by the Applicable Regulations, some of the Services (incl., receipt, review and confirmation of documents during account opening under clause 2.1) may be outsourced to agents, Affiliates or our service providers.
Any authority granted by you to us, or any of our limitation of liability, will also extend to include the grant of authority to and limitation of liability of its Affiliates, agents and any service providers.
Your information about your Transactions, Account and confirmations will be sent to your Platform.
It is your responsibility to inform us of any change to your email, the non-receipt of a confirmation, or whether any confirmations are incorrect before settlement of your Transaction occurs. If you have a reason to believe that the confirmation is inconsistent or if you do not receive any confirmation (though the Transaction was made), you should contact us.
Any confirmations will, in the absence of manifest error, be deemed conclusive unless you notify us in writing to the contrary within two (2) Business Days following the day of receipt of the said confirmation with error.
We have the right to unilaterally amend the terms of the Operative Agreements at any time by giving you Written Notice. Unless otherwise provided in these Terms, the amendments take effect after fourteen (14) days from the day the Written Notice is deemed served to and received by you.
A waiver by us of a breach of any of the terms of the Operative Agreements does not constitute a waiver of any other breach of those terms and will not prevent us from subsequently requiring compliance with the waived obligation.
The rights and remedies provided to us under the Operative Agreements are cumulative and are not exclusive of any rights or remedies provided by law.
You agree that time shall be of the essence in respect to all your obligations under these Terms.
If any term of the Operative Agreements (or any part of any term) will be held by a tribunal or a court to be unenforceable for any reason then such term will, to that extent, be deemed as severable and not form part of the Operative Agreements, but the enforceability of the remainder of Operative Agreements will not be affected.
Our official language is English, and you should always read and refer to the Platform for all information and disclosures about us and its activities in English. If any translation or information is provided in languages other than English, it is for informational purposes only and do not bind us or have any legal effect whatsoever.
These Terms and each Transaction entered into with you will be governed by and construed in accordance with the laws of the Abu Dhabi Global Market.
In the event of a dispute arising out of or relating to the Operative Agreements, you irrevocably agree to first seek settlement of that dispute with us in accordance with the ComplaintsManagement Policy. If the dispute is not satisfactorily settled in accordance with this clause, then either party to the Terms may commence proceedings in accordance with the clause below.
With respect to any proceedings, you irrevocably (a) agree that that the courts of the Abu Dhabi Global Market will have exclusive jurisdiction to settle any disputes in connection with theTerms; (b) submit to the jurisdiction of the courts of the Abu Dhabi Global Market; (c) waive your right to any objection which you may have at any time to the filing of any legal cases in any such courts; (d) agree not to claim that such proceedings have been brought in an inconvenient forum or that such court does not have jurisdiction over you.
Annex A: Interpretation of Terms
- In the Operative Agreements, the words will have the following meanings:
“Account” will mean each account opened by you pursuant to the Operative Agreements for the provision of the Services.
“Affiliate” will mean in relation to us, any entity controlled directly or indirectly by us, any entity that controls us directly or indirectly, or any entity directly or indirectly under common control with us.
“Applicable Regulations” will mean the Financial Services and Markets Regulations 2015, any other applicable rules and regulations of the Abu Dhabi Global Market or Financial Services Regulatory Authority of the United Arab Emirates, as amended from time to time.
“Ask” will mean the higher price in the Quote being the price at which you may buy.
“Balance” will mean the total financial result of all completed Transactions and depositing/withdrawal operations on the trading Account.
“Bid” will mean the lower price in the Quote being the price at which you may sell.
“Business Day” will mean any day between Monday and Friday, inclusive, other than the 25th of December, or the 1st of January or any other holiday announced by us on our Platform or Website.
"Gapping" happens when the price of an instrument or asset opens above or below the previous day's close with no trading activity in between.
“Instrument” will mean contract for differences on various underlying assets and stocks. The full list of Instruments currently offered by us can be found on the Website.
“Market Abuse” will mean any dishonest behaviour related to trading as described in the Applicable Regulations.
“Market Order” will mean a type of Order that executes at the best available price on the market, so it generally executes immediately during trading hours.
“Market Snapshot” will mean Quotes for instruments at a particular moment in time.
“Nemo Assistant” will mean the Ai Assistant on the Website or Platform or any other programs we may maintain from time to time that interacts with you in a conversational way.
“Order” will mean an instruction from the client to us to open or close a position when the price reaches the amount indicated in the Order.
“Platform” will mean all programs and technical features which provide real-time Quotes and allow Transactions to be made, Orders to be placed/modified/deleted/executed and calculate all mutual obligations between the client and us.
“Position” will mean expression of a market commitment, or exposure, held by a trader.
“Quote” will mean the information of the current price for a specific Instrument, in the form of the Bid and Ask prices.
“Quotes Flow” will mean the stream of Quotes in the Platform for each Instrument.
"Slippage" happens when a Market Order is executed, or a stop loss closes the Position at a different rate than set in the Order due to high volatility of the Instrument.
“Spread” will mean the difference between Ask and Bid.
“Transaction” will mean any contract entered into or executed by the client or on behalf of the client upon placing an Order under the Operative Agreements.
“Website” will mean www.nemo.money or such other website as we may maintain from time to time for access by you.
- All references to a statutory provision include references to any statutory modification, consolidation or re-enactment of it, whether before or after the date of the OperativeAgreements, for the time being in force; all statutory instruments or orders made pursuant to it; and any statutory provision of which that statutory provision is a re‐enactment or modification.
- All references to “includes,” “including,” “including but not limited to,” “including without limitation”and words or phrases of similar import will be deemed to have the same meaning and the words “includes(s)” and “including” will not be deemed to be terms of limitation but rather be deemed to be followed by the words “without limitation.”
- Words denoting the singular include the plural and vice versa; words denoting any gender include all genders; and words denoting persons include individuals, corporations, partnerships, other unincorporated bodies and all other legal entities.
- Unless otherwise stated, a reference to a clause, subpara, party or an annex is a reference to a clause, subpara in, or a party or an annex to, this Terms. The clause headings are inserted for ease of reference only and do not affect the construction of the terms of this Terms. All annexes referred to herein form an integral part of this Terms.
- In the event of any conflict between this Terms and any other agreements, annexes or ancillary documents referred to in this Terms, the order of precedence for the purpose of construction shall be: (a) this Terms; (b) other Operative Agreements; and (c) any other ancillary documents referred to in this Terms.
Annex B: Risk Acknowledgment and Disclosure
A. Risk Warning
Prospective clients should study the following risk warnings very carefully. Please note that we do not explore or explain all the risks involved when dealing in Instruments. We outline the general nature of the risks of dealing in Instruments on a fair and non-misleading basis.
Unless a client knows and fully understands the risks involved in each Instrument, they should not engage in any trading activity. You should not risk more than you are prepared to lose. We will not provide clients with any investment advice in relation to investments, possible transactions in investments, or Instruments, neither will we make any investment recommendations. Clients should consider which Instrument is suitable for them according to their financial status and goals before opening an account with Nemo. If a client is unclear about the risks involved in trading in Instruments, then they should consult an independent financial advisor. If the client still doesn't understand theserisks after consulting an independent financial advisor, then they should refrain from trading at all.Purchasing and selling Instruments comes with a significant risk of losses and damages and each client must understand that the investment value can both increase and decrease, clients are liable for all these losses and damages, which could result in the loss of the entire invested capital once they have made the decision to trade.
- The Client will be responsible for the risks of financial losses caused by the failure of information, communication, electronic and other systems. The result of any system failure may be that his order is either not executed according to client’s instructions or it is not executed at all. We do not accept any liability in the case of such a failure.
- While trading through the Platform, which could be desktop install, browser or Mobile App, you will be responsible for the risks of financial losses caused by:
(a) your or our hardware or software failure, malfunction or misuse;
(b) poor internet connection either on your or our side or both, or interruptions or transmission blackouts or public electricity network failures or hacker attacks, overload of connection;
(c) the wrong settings in your Account or Platform;
(d) delayed updates in your Account or Platform;
(e) your disregard to the applicable rules described in the Account or Platform or Website.
- You will accept the risk of any financial losses caused by the fact that you received with delay or you have not received at all any notice from us.
- You acknowledge that the unencrypted information transmitted by email is not protected from any unauthorized access.
- You are fully responsible for the risks in respect of undelivered trading platform notifications sent to you by us as they are automatically deleted within 3 (three) calendar days.
- You are wholly responsible for the privacy of the information received from us and accepts the risk of any financial losses caused by the unauthorized access of a third party to your Account or Platform.
- We have no responsibility if authorized/unauthorized third persons access your information, including electronic addresses, electronic communication and personal data, access data when the above are transmitted between us or any other party, using the internet or other network communication facilities, telephone, or any other electronic means.
Force Majeure Event
- In case of a Force Majeure Event, you will accept the risk of financial losses.
Highly Volatile Instruments
- Some Instruments trade within wide intraday ranges with volatile price movements. Therefore, you must carefully consider that there is a high risk of losses as well as profits. The prices ofInstruments may fluctuate rapidly and over wide ranges and may reflect unforeseeable events or changes in conditions, none of which can be controlled by you or us. Under certain market conditions, it may be impossible for your order to be executed at declared price leading to losses.
- Equities, represent a portion of a company’s share capital. The extent of your ownership in a company depends on the number of shares you own in relation to the total number of shares in issue.
- Shares are bought and sold on stock exchanges and their values can go down. In respect of shares in smaller companies, there is an extra risk of losing funds when such shares are bought or sold. There can be a big difference between the buying and selling price of these shares. If they have to be sold immediately, you may get back much less than they paid for them. Shares in companies incorporated in emerging markets may be harder to buy and sell than those shares in companies in more developed markets and such companies may also not be regulated as strictly.
- All Equities offered are listed on an exchange, which means that the prices are not set by us. We will act on any instruction that you provide to buy or sell an instrument on your behalf in accordance with our obligation to provide best execution, to act reasonably and in accordance with theOperative Agreements.
- We will arrange for the custody of your Instruments. All equities purchased for you or transferred to us by you, will be purchased in the name of the nominee company or Nemo, and/or held by a nominee company selected by Nemo, for your benefit. As investments will be held in the name of a nominee company, you may not have voting rights which you would have had if you held the investment in your own name.
- All financial investments involve an element of risk. The value of any investment you make through may fall as well as rise and you may get back less than his/her initial investment. Past performance is not an indication of future performance. The risks that you are exposed to will vary according to the Instruments you instruct us to buy and sell on their behalf. You should be aware that shares admitted to trading on a regulated market are not high-risk financial products.
- Our services are provided on an execution only basis. We do not provide investment advice in relation to Equities. We might provide factual information or research recommendations about a market, information about transaction procedures and information about the potential risks involved and how those risks may be minimized. However, any decision to use the products or services is made by you.
- Markets located outside the Abu Dhabi Global Market involve various risks. On request, we will provide an explanation of the relevant risks and protections (if any) which will operate in any foreign markets, including the extent to which it will accept liability for any default of a foreign firm through whom it deals. The potential for profit or loss from transactions on foreign markets or in foreign denominated contracts will be affected by fluctuations in foreign exchange rates.
- If you deposit collateral as security with us, the way in which it will be treated will vary according to the type of Transaction and where it is traded. There could be significant differences in the treatment of your collateral depending on whether you are trading on a recognised or designated investment exchange, with the rules of that exchange (and the associated clearing house) applying or trading off-exchange. Deposited collateral may lose its identity as your property once dealings on your behalf are undertaken. Even if your dealings should ultimately prove profitable, you may not get back the same assets which you deposited and may have to accept payment in cash. You should ascertain from us how your collateral will be dealt with.
- . In the event of the appointment of a liquidator, receiver or administrator or trustee in bankruptcy or any equivalent procedure in our part:
(a) of an Abu Dhabi Global Market firm, any excess collateral will be sold, and the resulting client money shall be distributed in accordance with the Client Money Distribution Rules; or
(b) of a non-Abu Dhabi Global Market firm, that Collateral will be subject to a regime which may differ from the regime applicable in the Abu Dhabi Global Market.
- If we decide to deposit your collateral with a third party, we are under an obligation to notify and obtain the agreement of the third party that:
(a) the collateral does not belong to us and therefore the third party is obligated to keep such Collateral in a segregated Client Account in a name that clearly identifies it as belonging to us;
(b) the third party is not entitled to claim any lien or right of retention or sale over the collateral except to cover the obligations owed to such third party arising on the segregated client account and no other account.
- We may permit your collateral to be held by a third party only where it has reasonable grounds to believe that the third party is, and remains, suitable to hold that collateral.
- We are under an obligation to, and shall, take reasonable steps to ensure that the collateral is properly safeguarded.
- We will immediately withdraw the collateral from the third party where it will be known to us the collateral is not being properly safeguarded unless you have indicated otherwise in writing.
Commissions and Taxes
- Before you begin to trade, you should make yourself aware of all commissions and other charges for which you will be liable. If any charges are not expressed in monetary terms (but, for example, as a percentage of contract value), you should ensure that you understand the true monetary value of the charges.
- There is a risk that your trades in any Instruments may be or become subject to tax and/or any other duty for example because of changes in legislation or his personal circumstances. We do not warrant that no tax and/or any other stamp duty will be payable. You are responsible for any taxes and/or any other duty which may accrue in respect of his trades.
- You are responsible for managing your tax and legal affairs including making any regulatory filings and payments and complying with applicable laws and regulations. We do not provide any regulatory, tax or legal advice. If you are in any doubt as to the tax treatment or liabilities of investment products available by us, they should seek independent advice.
Suspensions of Trading
- Under certain trading conditions it may be difficult or impossible to liquidate a position. This may occur, for example, at times of rapid price movement if the price rises or falls in one trading session to such an extent that under the rules of the relevant exchange trading is suspended or restricted. Placing a stop loss will not necessarily limit your losses to the intended amounts, because market conditions may make it impossible to execute such an order at the stipulated price. In addition, under certain market conditions the execution of a stop loss order may be worse than its stipulated price and the realized losses can be larger than expected.
Clearing House Protections
- On many exchanges, the performance of a transaction by your broker (or third party with whom it is dealing on your behalf) is guaranteed by the exchange or clearing house. However, this guarantee is unlikely in most circumstances to cover you, the Client, and may not protect you if your firm or another party defaults on its obligations to you. There is normally no clearing house for off-exchange instruments which are not traded under the rules of a recognised or designated investment exchange.
- Our insolvency or default may lead to positions being liquidated or closed out without your consent.In certain circumstances, you may not get back the actual assets which you lodged as collateral, and you may have to accept any available payments in cash or by any other method deemed to be appropriate.
- Segregated funds will be subject to the protections conferred by Applicable Regulations.
- We may pass money received from the Client to a third party (e.g., a bank, a market, intermediate broker, OTC counterparty or clearing house) to hold or control in order to effect a Transaction through or with that person or to satisfy the Client 's obligation to provide collateral (e.g., initial margin requirement) in respect of a Transaction.
- We may pass money received from the Client to a third party (e.g., a bank, a market, intermediate broker, OTC counterparty or clearing house) to hold or control in order to effect a Transaction through or with that person or to satisfy the Client 's obligation to provide collateral (e.g., initial margin requirement) in respect of a Transaction.
Annex C: Complaints Management Policy
Nemo maintains effective and transparent procedures for the reasonable and prompt handling of complaints received from clients and keeps records of each complaint as well as the actions taken to remedy the situation.
A complaint is an expression of dissatisfaction regarding the investment and/or ancillary services provided to the clients by us. The complaint must be made by the client to us in writing to the following email: firstname.lastname@example.org and contain the information mentioned in the complaint form.
In case we receive an enquiry or notice through the email above which does not fall within the definition of 'complaint', we will categorize the notice as an enquiry rather than a complaint and will forward to the relevant department for resolution. The complainant maintains the right to request for the reclassification of his enquiry as a complaint.
Once the client files a complaint, an electronic acknowledgement of receipt will be sent within five (5) business days to the email address of the client to acknowledge that we have received the complaint and are currently working on a resolution.
The acknowledgement will contain:
(a) the contact details of any individual responsible for handling the complaint;
(b) key particulars of the authorised person's complaints handling procedures; and
(c) a link to a copy of this complaint handling procedures.
It is the responsibility of our compliance officer to efficiently handle any complaints received by clients.In case that the complaint involves the compliance department, the complaint will be handled by amember of the senior management to maintain independence.
Further to the above, the compliance officer will follow the procedure depicted below when handling client complaints:
(a) ensure that the complaint is properly recorded and forwarded to a relevant personwith sufficient independence to carry out an investigation;
(b) update the client on the progress of the handling of the complaint in circumstances where the resolution of the complaint is taking longer than30 days;
(c) maintain a register of all complaints, indicating the steps we have taken to resolve the complaints;
(d) Periodic reporting to senior management as and when required.
We will investigate and involve relevant heads of departments to consider the subject of the complaint.We will make every effort to resolve the complaint within thirty (30) days. In case we need additional time to resolve the compliant, we will duly update the client about the causes of the delay and indicate when our investigation is likely to be completed.
During investigation, the following factors will be considered:
(a) the events leading to the complaint based on the information provided by the client;
(b) whether any additional information, need to be retrieved from our archive (electronic mail, recorded telephone calls, IT data, etc).
A final response will be sent to the client explaining the findings of the investigation.
We will, upon investigating the complaint and upon reaching a decision in this respect, promptly advise the client in writing of the resolution of the complaint and provide clear terms of redress, if applicable.
We will promptly comply with the terms of redress if accepted by the client. If the client is not satisfied with the terms of redress offered, they may consider external avenues for resolution. Appropriate contact details will be provided to the client upon request, if available.
We will document and keep in our records the following information:
(a) the identity of the client who filed the complaint/grievance;
(b) the name of the employee who undertook to provide the service to the client;
(c) the date of receipt of complaint/enquiry/grievance; (d) the subject and full description of the complaint/enquiry/grievance; (e) the remedial action taken and/or further clarifications provided to the client.
We will maintain a record of any complaint made against it for a minimum period of six (6) years from the date of receipt of the complaint.
Our compliance officer may, as part of the compliance monitoring programme, conduct periodic reviews of client complaints received to ensure that the procedure herein is being complied with and to identify any recurring or systemic problems identified from complaints and discuss the matter with our relevant departments for solutions in terms of systems and processes.