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THE FOLLOWING STATEMENT MUST BE READ AND AGREED
UPON BEFORE ENTERING THE CTA SITE
THE RISK OF LOSS IN TRADING COMMODITY INTERESTS CAN BE
SUBSTANTIAL. YOU SHOULD THEREFORE CAREFULLY CONSIDER WHETHER SUCH
TRADING IS SUITABLE FOR YOU IN LIGHT OF YOUR FINANCIAL CONDITION. IN
CONSIDERING WHETHER TO TRADE OR TO AUTHORIZE SOMEONE ELSE TO TRADE
FOR YOU, YOU SHOULD BE AWARE OF THE FOLLOWING:
IF YOU PURCHASE A COMMODITY OPTION YOU MAY SUSTAIN A TOTAL LOSS
OF THE PREMIUM AND OF ALL TRANSACTION COSTS.
IF YOU PURCHASE OR SELL A COMMODITY FUTURES CONTRACT OR SELL A
COMMODITY OPTION YOU MAY SUSTAIN A TOTAL LOSS OF THE INITIAL MARGIN
FUNDS OR SECURITY DEPOSIT AND ANY ADDITIONAL FUNDS THAT YOU DEPOSIT
WITH YOUR BROKER TO ESTABLISH OR MAINTAIN YOUR POSITION. IF THE
MARKET MOVES AGAINST YOUR POSITION, YOU MAY BE CALLED UPON BY YOUR
BROKER TO DEPOSIT A SUBSTANTIAL AMOUNT OF ADDITIONAL MARGIN FUNDS,
ON SHORT NOTICE, IN ORDER TO MAINTAIN YOUR POSITION. IF YOU DO NOT
PROVIDE THE REQUESTED FUNDS WITHIN THE PRESCRIBED TIME, YOUR
POSITION MAY BE LIQUIDATED AT A LOSS, AND YOU WILL BE LIABLE FOR ANY
RESULTING DEFICIT IN YOUR ACCOUNT.
UNDER CERTAIN MARKET CONDITIONS, YOU MAY FIND IT DIFFICULT OR
IMPOSSIBLE TO LIQUIDATE A POSITION. THIS CAN OCCUR, FOR EXAMPLE,
WHEN THE MARKET MAKES A "LIMIT MOVE."
THE PLACEMENT OF CONTINGENT ORDERS BY YOU OR YOUR TRADING
ADVISOR, SUCH AS A "STOP-LOSS" OR "STOP-LIMIT"
ORDER, WILL NOT NECESSARILY LIMIT YOUR LOSSES TO THE INTENDED
AMOUNTS, SINCE MARKET CONDITIONS MAY MAKE IT IMPOSSIBLE TO EXECUTE
SUCH ORDERS.
A "SPREAD" POSITION MAY NOT BE LESS RISKY THAN A SIMPLE
"LONG" OR "SHORT" POSITION.
THE HIGH DEGREE OF LEVERAGE THAT IS OFTEN OBTAINABLE IN COMMODITY
INTEREST TRADING CAN WORK AGAINST YOU AS WELL AS FOR YOU. THE USE OF
LEVERAGE CAN LEAD TO LARGE LOSSES AS WELL AS GAINS.
IN SOME CASES, MANAGED COMMODITY ACCOUNTS ARE SUBJECT TO
SUBSTANTIAL CHARGES FOR MANAGEMENT AND ADVISORY FEES. IT MAY BE
NECESSARY FOR THOSE ACCOUNTS THAT ARE SUBJECT TO THESE CHARGES TO
MAKE SUBSTANTIAL TRADING PROFITS TO AVOID DEPLETION OR EXHAUSTION OF
THEIR ASSETS. THE DISCLOSURE DOCUMENT CONTAINS A COMPLETE
DESCRIPTION OF THE PRINCIPAL RISK FACTORS AND EACH FEE TO BE CHARGED
TO YOUR ACCOUNT BY THE COMMODITY TRADING ADVISOR ("CTA").
THE REGULATIONS OF THE COMMODITY FUTURES TRADING COMMISSION
("CFTC") REQUIRE THAT PROSPECTIVE CUSTOMERS OF A CTA
RECEIVE A DISCLOSURE DOCUMENT WHEN THEY ARE SOLICITED TO ENTER INTO
AN AGREEMENT WHEREBY THE CTA WILL DIRECT OR GUIDE THE CLIENT'S
COMMODITY INTEREST TRADING AND THAT CERTAIN RISK FACTORS BE
HIGHLIGHTED. THIS DOCUMENT IS READILY ACCESSIBLE AT THIS SITE. THIS
BRIEF STATEMENT CANNOT DISCLOSE ALL OF THE RISKS AND OTHER
SIGNIFICANT ASPECTS OF THE COMMODITY MARKETS. THEREFORE, YOU SHOULD
PROCEED DIRECTLY TO THE DISCLOSURE DOCUMENT AND STUDY IT CAREFULLY
TO DETERMINE WHETHER SUCH TRADING IS APPROPRIATE FOR YOU IN LIGHT OF
YOUR FINANCIAL CONDITION. YOU ARE ENCOURAGED TO ACCESS THE
DISCLOSURE DOCUMENT BY CLICKING THE LINKS PROVIDED UNDER EACH OF THE
RESPECTIVE CTAS. YOU WILL NOT INCUR ANY ADDITIONAL CHARGES BY
ACCESSING THE DISCLOSURE DOCUMENT. YOU MAY ALSO REQUEST DELIVERY OF
A HARD COPY OF THE DISCLOSURE DOCUMENT, WHICH WILL ALSO BE PROVIDED
TO YOU AT NO ADDITIONAL COST. THE CFTC HAS NOT PASSED UPON THE
MERITS OF PARTICIPATING IN ANY OF THESE TRADING PROGRAMS NOR ON THE
ADEQUACY OR ACCURACY OF ANY OF THESE DISCLOSURE DOCUMENTS.
OTHER DISCLOSURE STATEMENTS ARE REQUIRED TO BE PROVIDED YOU
BEFORE A COMMODITY ACCOUNT MAY BE OPENED FOR YOU.
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ADDITIONAL DISCLOSURE REQUIRED FOR
ADMINISTRATIVE FEES:
A COMPLETE DISCUSSION OF FEES AND CHARGES ARE REPORTED IN
THE CTA's DISCLOSURE DOCUMENT. SPECIFICALLY, ONE SHOULD
RECOGNIZE THAT AN INTRODUCING BROKER MAY CHARGE A FRONT-END
START UP FEE OF UP TO 6% OF THE INITIAL CONTRIBUTION. PLEASE
NOTE THAT THIS CHARGE IS NOT REFLECTED IN THE PERFORMANCE OF
THE COMMODITY TRADING ADVISOR AND COULD HAVE A SIGNIFICANT
IMPACT ON THE CUSTOMERS ABILITY TO ACHIEVE SIMILAR RETURNS.
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I HAVE READ AND UNDERSTOOD THE STATEMENT
ABOVE AND WISH TO PROCEED
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