CLIENT APPLICATION FORM INDIVIDUAL CLIENTS

Transcription

1 INSTRUCTIONS FOR COMPLETING THE APPLICATION INDIVIDUAL CLIENTS Before completing the form, please read it carefully and make sure you have read and understood all the information on your account with DIF Markets Agente de Valores S.A. ( DIF Markets ) included in the General Commercial Terms and Conditions (including the Statement of Risk), available at the website of DIF Markets Provide the information as accurately as possible in capital letters. For the purpose of complying with regulatory standards, DIF Markets requires the documentation detailed in the next paragraph. DIF Markets also reserves to right to request further documentation at any time during the opening process. PROOF OF IDENTITY Valid Passport (Identification & signature page required) Copy of valid national identity document (identification page and signature required) of beneficiary/beneficiaries of the account Identity documents must be current and valid, issued by official government authority and include: Full name Unique personal identification number, Clearly visible picture which identifies the person and Signature PROOF OF SOURCE OF FUNDS (if applies) A valid document that will include the permanent residential address, issued in the last 6 months. Valid type of documents accepted: Salary receipts Tax Statement Heritance Certificate Sales Certificate of real state Others PROOF OF RESIDENCE This document must be valid and include the current residential address of the holder and be issued by an official government authority. Types of acceptable documents(s): Registration with the tax authority Driver s License Copy of: Bank Statement, utility bill such electricity, water, gas, telephone, internet, cable TV. PROOF OF OCCUPATION Proof of the employing entity: : Letter Pay slip To speed up the opening process, please return the completed application accompanied by the documents mentioned above, directly to DIF Markets in the following ways: Scan forms along with documentation and send a copy of the application and the documentation and it to: informacion@difmarkets.com. Please note that as of the approval, your account will be operative for a period of 15 days, within which you must send the original documents to the DIF Markets offices. If you fail to comply with this requirement, we will be obliged to restrict your account, until such documents are received correctly. Send the application by post along with the documentation to the following address: DIF MARKETS AGENTE DE VALORES S.A. Ruta 8 Km 17.5 Oficina 109 Zonamérica CP Montevideo Uruguay Att. Atención al Cliente Internal use: ID: Account: Approval date: Person who approves: If you have any questions regarding how to complete this form or the documentation to be sent, please contact us by phone or read our Frequently Asked Questions (FAQ) in our site: 1 / 8 01/2018

2 PLEASE NOTE THAT ALL FIELDS ARE COMPULSORY. PART 1 INDIVIDUAL CLIENT DETAILS Full name: (as in passport / ID): Type of identification document: Account type: Passport Identity Card Driver s License Other Individual Joint Number of identification document: Tax Identification Number TIN: No TIN Country issuing the document: Place and date of birth: Gender: M F Nationality: Marital status: Single Married Divorced Widow/er Other: Name and identification document number of spouse: Home address: Town/Department/Province/State: Country: Country code: Postal code: Home Telephone Work Telephone: Mobile Phone: Fax (home): Fax (work): (obligatory): Bank, Commercial or personal references: (Name, address and telephone number) In order to comply with FATCA (Foreign Account Tax Compliance Act) DIF Markets requires that the client declare the following information. For additional information please visit Are you a US citizen? Yes No Are you a US resident for tax purpose? Yes No In case you have answered Yes in any of the above questions, please prove the tax identification number with the US, TIN: Furthermore, if you have answered No, please complete the W8BEN Form, downloadable form here: DECLARATION FOR TAX PURPOSES - COMMON REPORTING STANDARD (CRS) Only complete this section if you are a tax resident to more/other countries than your country of residence as stated above. Please complete the following table indicating (i) the countries, where you are tax resident, (ii) your Tax Identification Number (TIN) for each country indicated or iii) if the country to which you are a tax resident does not issue a TIN number. COUNTRY OF TAX RESIDENCE TAX IDENTIFICATION NUMBER No TIN available (X) 2 / 8 01/2018

3 PART 2 CHOICE OF ACCOUNT CURRENCY Choice of account currency: USD EUR PART 3 ACCOUNT PROFILE OF CLIENT RELATIONSHP (ALL FIELDS ARE MANDATORY) In order to comply with the anti-money laundering and terrorist financing regulations, all securities intermediaries, regulated by the Uruguayan Central Bank, must obtain information on the purpose and scope of the relationship with the client. DIF Markets will not disclose or request verification from a third party. In any case, you may be asked to provide us with supporting documentation. ANNUAL INCOME Annual Salary after tax (USD) > Secondary source(s) of income, if applicable (in USD) Dividends/interests from stocks/bonds Dividends/interests from own company Inheritance Other Secondary income after tax (USD) > TOTAL WEALTH Primary source(s) of total wealth (in USD) Savings from salary / pension Profit from selling own company Inheritance Royalties Trading Profit Other Approximately what would be the volume of assets in which you would invest? Value of cash & securities < ,000, > How many trades do you typically place on a monthly basis? >100 3 / 8 01/2018

4 PART 4 OCCUPATION Current occupation and any other that you have practiced for the past two years (check all that apply) Private Company, management / executive board Board of directors / executive board in the public sector 1 Government / Political position 2 Self-employed Student Private Company/ other Public / government sector, other Unemployed Retired Are you a Politically Exposed Person under the definition detailed below in paragraph 3? Yes No 1 Board of directors/executive board in the public sector includes, for example Members of administrative or management organizations or supervisory bodies of state companies. 2 Government/political position includes, for example: State and governmental authorities, Ministers and Deputy Ministers, Members of parliament, Members of supreme, constitutional or similar courts, Members of courts of audits or boards of central banks, Ambassadors, General Consuls, senior business managers, staff/high ranking officers of the armed forces. Politically Exposed Persons (PEPs) are individuals who are or have been entrusted with prominent public functions in Uruguay or abroad, such as: (i) heads of state or heads of government, (ii) high-profile politicians, (iii) government officials, (iv) members of the judiciary, (v) highlevel military, (vi) relevant employees of political parties, directors (vii) and top managers of state enterprises and other public entities. Relatives and friends of physical persons are also considered as Politically Exposed Persons. 3 Politically Exposed Persons (PEP): are individuals who perform or have performed prominent public offices in Uruguay or abroad, such as: (i) chiefs of state or heads of government, (ii) high-profile politicians, (iii) government officials, (iv) members of judicial bodies, (v) high-level military, (vi) relevant employees of political parties, directors, and (vii) senior officials of state companies and other public entities. Relatives and close friends of these individuals are also considered Politically Exposed Persons. Name of your employer*: Specify your position or occupation*: Activity sector of your occupation*: *not relevant if you are, Student, Retired or Unemployed. PART 5 STATEMENT OF SOURCE OF FUNDS AND TYPES OF ORDERS I/We hereby declare that I act on my own behalf, as specified above, and not on behalf of a third party with respect to all matters relating to this client relationship and that, accordingly, all funds deposited in the DIF Markets account and the fund I operate with are my own. Also in compliance with the Uruguayan Central Bank s communication No. 2008/170 of 14/10/2008, I/we hereby express that the contributed funds and securities are not from or are linked directly or indirectly to: drug trafficking, terrorism, smuggling, trafficking firearms, explosives, ammunition or materials for their production, trafficking in organs, tissues and drugs, trafficking of men, women or children, extortion, kidnapping, pimping, trafficking of nuclear substances or illicit artwork, animals or toxic materials, the crime of genocide, war crimes or crimes against humanity. In compliance of the regulations I declare that in my relationship as a client of DIF Markets, my orders will be placed as follows: Through the DIF Trading Platform In writing Verbally* Allowed please specify: *Please note that for your safety, communications between the client and DIF Markets will be recorded. Any changes to these instructions must be notified to DIF Markets in writing. 4 / 8 01/2018

5 PART 6 ACCOUNT COSTS AND EXPENSES I hereby declare that I have been informed by DIF Markets about all costs, expenses, commissions, fees, insurance and other applicable amounts receivable by DIF Markets as a result of the customer relationship established herein, including amount, concept, their frequency and whether they are mandatory or optional. I acknowledge that DIF Markets may vary such costs, expenses, commissions, fees, insurance and other applicable receivable amounts under the following conditions: (i) without notice, if the change is a plus for me, (ii) one month written notice in other cases at the discretion of DIF Markets. In all cases, changes will be updated in the Commissions, Charges and Margins available at DIF Markets: PART 7 BANKING SECRECY AND PERSONAL DATA Bank Secrecy I waive DIF Markets from the obligation of banking secrecy, professional secrecy, confidential information or any confidentiality law applicable to DIF Markets, in order to disclose any information contained herein or derived from the relationship with the client, in the following cases: (i) if DIF Markets is compelled by judicial decisions, law or provisions of an authority to which it is subject, (ii) in relation to all the information for the purpose of being communicated or transferred by DIF Markets to any of its shareholders or controlling entities, controlled entities, branches, subsidiaries or any of its subsidiaries, and (iii) if any unauthorized third party (e.g. hackers) accesses the electronic platform and obtains any information from it. Personal Information In accordance with the Law on Personal Data Protection, Law No. 18,331, I acknowledge that the data to be supplied from today to DIF Markets will be included in its database. Personal data will be predated with the appropriate level of protection, taking the necessary security measures to prevent alteration, loss, treatment or unauthorized access by third parties. I hereby authorize DIF Markets to transfer personal data to any of its partners or controlling entities, controlled entities, subsidiaries, branches or any of its subsidiaries or any service provided -either in Uruguay or abroad -that are necessary for the proper provision of services. I hereby declare that I have read and understood the conditions under which personal data will be processed, treated and that I freely and explicitly authorize DIF Markets to transfer this data to the institutions mentioned above. PART 8 RISK WARNING (MANDATORY) In order to comply with the regulations of the Central Bank of Uruguay, DIF Markets wishes to inform about the risk warning set out below. INFORMATION ON THE CHARACTERISTICS OF CERTAIN COMPLEX PRODUCTS AND THEIR ASSOCIATED RISKS The following is an overview of the characteristics of certain complex products and their markets, as well as the risks associated with these products. The last pages of the Terms and Conditions of DIF Markets and its website, provide further information in this regard. Dealing with financial products always involves a risk. Therefore, as a general rule, you should only deal with financial products if you know the products and the risks they entail. Trading foreign exchange (FOREX) In currency trading, the investor speculates on the development of the price of one currency against another, where one is sold and another is purchased. For example, an investor can sell pounds sterling (GBP) in exchange for U.S. dollars (USD) if they think the latter currency will increase relative to the first. Currencies are traded in the form of margin trade, which means you can spend more money than you have available in your account. Currencies can be traded as FX Spot, FX Forward and FX Options. FX Spot is the buying of one currency against the sale of another for immediate delivery. Forward FX and FX Options Transactions are set for an agreed date in the future at prices that are agreed on the day of the Rransaction. FX Forward trading involves the obligation to complete the transaction by the agreed price on the date set. Continues 5 / 8 01/2018

6 The FX Options buyer has the right to make a transaction in the underlying FX Spot currency pair at the expiration date if the price is more favorable than the market price at the time. On the other hand, an option seller is obligated to conduct a transaction with the buyer in the due date if requested by the buyer. Options purchased, therefore, involve a limited risk in the form of a premium to pay at the time of concluding the contract, while the options that have been sold involve unlimited risk in the form of changes n the price of the underlying Spot FX currency pair. The Forex market is the largest financial market in the world, active every weekday 24 hours a day. It is characterized, inter alia, for having a relatively low profit margin as compared to other products. Thus, obtaining a high gain is subject to a high trading volume, which is achieved, for example, in transactions with margin as described above. When trading foreign exchange, gains net of costs (such as commission and spread) obtained by a market participant will always be offset by the loss of another participant. Transactions in foreign currencies are always performed with a Market Maker as counterparty, and the latter sets prices on the basis of those which are available in the market. However, this does not necessarily mean your profit or loss as a customer is compensated by a gain or loss by the Market Maker, as it seeks to hedge its risks with other counterparties. Since currencies are subject to margin trade, allowing you to take a larger position than could be allowed only with the funds you have deposited, a relatively small negative or positive movement in the market can have a significant effect on your investment. Thus, currency trading involves a relatively high level of risk. This means that the potential benefit is quite high, even if the deposit is small. If your total exposure on margin trades exceeds your deposit, you risk losing more than your deposit. More information can be found at the site of DIF Markets ( and it is informed that Saxo Bank A/S is DIF Markets Market Maker. CFDs A CFD (Contract For Difference) is the speculation over changes in values. A CFD allows speculating on future increases or decreases in the value of a specific asset, such as a stock. If his speculations prove true, you will make a profit from the difference in the value (less costs), but you will pay the difference in value (plus costs) if your speculations turn out to be wrong. By being linked to an underlying asset, the value of a CFD depends on that asset. CFDs are always traded on margin (see above, about foreign exchange transactions). CFDs are typically traded with a Market Maker as counterparty, although some CFDs are traded on a regulated market. However, the price always fluctuates with the price of the underlying product, which in most cases is traded on a regulated market. The price and liquidity of CFDs over individual stocks reflect the price and liquidity of the stock market in which such stock is admitted for trading, whereas, for example, index CFDs are not exchange-traded products (OTC) with a price set by the Market Maker on the basis of price and liquidity of the underlying shares, the futures market, estimated future dividends, the effects of interest rates, etc. Because CFDs are subject to margin trade, allowing you to take a larger position than you could be allowed with the funds you have deposited, a relatively small negative or positive movement in the underlying instrument can have a significant effect on your investment. Thus, CFD trading involves a relatively high level of risk. This means that the potential benefit is quite high, even if the deposit is small. If your total exposure on margin trades exceeds your deposit, you risk losing more than your deposit. Futures Futures trading involves speculating on the rise or fall in the price of a specific underlying asset in the future. Futures give the holder a standardized obligation to buy or sell the underlying asset at a specified price on a specified date in the future. The underlying asset can be, for example, raw materials, agricultural products or financial products. Depending on the nature of the futures, the asset has to be agreed by the price difference or by actual delivery at the deadline. Futures are always traded in the form of margin trade (see previous paragraph about Forex trading). Futures are always traded on a regulated market, by direct negotiation in the exchange or through transaction notification. Futures are subject to margin trade, allowing you to take a larger position than could be allowed only with the funds you have deposited, so a relatively small negative or positive movement in the market can have a significant effect on your investment. Thus, futures trading involves a relatively high level of risk. This means that the potential benefit is quite high, even if the deposit is small. If your total exposure on margin trades exceeds your deposit, you risk losing more than your deposit. Continues 6 / 8 01/2018

7 Option Contracts Trading in options is highly speculative and is not suitable for all investors due to the risks involved. Buyers and sellers of options contracts should become familiar with the type of option (i.e., put or call) with which they intend to negotiate and the associated risks. An option contract represents for you the right or obligation to buy or sell a specific amount or value of a specific underlying asset at a fixed exercise price, through the exercise of the option before the expiration date specified or on that same day. An option contract representing the right to purchase or the obligation to sell is called a Call option, while the one representing the right to sell or the obligation to buy is a Put option. An options contract that is in the money at the expiry date will always be exercised. Trading in option contracts entails a high level of risk. Options contracts involving the right to sell or buy an underlying asset (purchased options) may expire worthless, so the initial investment (i.e., the premium and transaction costs) will be lost. Options contracts involving the obligation to buy or sell an underlying asset (put options) can generate substantial losses (potentially unlimited).to ensure that you can cope with the losses generated by options sold, margin rates will be asked. However, the potential losses may exceed this margin and you will remain responsible for such losses. If your total exposure on margin trades exceeds your deposit, you risk losing more than your deposit. The underlying asset of an options contract is a product of margin trade (i.e., a derivative) and, if it is the buyer who exercises the contract option, the buyer (in the case of a call option) or the seller (in the case of a put option) of the option contract will acquire a position in the underlying margin traded product with the risks and responsibilities associated with providing a margin. MANDATORY I hereby state that I have read and understood the Warning statement about Risks derived from complex products. PART 9 SIGNATURE AND CONSENT By accepting these terms and conditions, I/we declare that: I/We have read and understood the Terms and Conditions (including the Risk Disclosure Statement), the Conditions for Securities Trading, the Conditions for the Management of Custody, the Conditions for international transfers of funds, the Terms of Use, Commissions, Charges and Margin and all its contents, and I / we agree to all this; I/We understand and accept that the Terms and Conditions (including the Risk Disclosure Statement), the Conditions for Securities Trading, the Conditions for Custody Management, the conditions for International Transfer of Funds and for Commissions, Charges and Margin, in addition to any other terms and conditions (and sometimes changes can be made in these), are applicable to all my business relationship with DIF Markets; Continues 7 / 8 01/2018

8 I/We have received, read and understood the information material corresponding to the relevant products; I/We have received additional comprehensive oral information about the products and the possibilities and risks involved, if I/we have so requested; I/We have received satisfactory answers to all my/our questions regarding the terms, conditions, and other matters relating to the relevant products. I/We acknowledge and I/we agree that the personal information I/we have provided to DIF Markets: May be shared with a third-party agency working on behalf of the DIF Markets, in order to carry out an analysis of the client for use in sales and marketing activities of the DIF Markets. May be used to perform a search with a third-party authentication services provider, in order to verify my identity. To this end, that provider can compare the information I have provided with the details of any database (public or otherwise) to which they have access. The information about me can also be used in the future to assist other companies in verification processes. A record of the search will be kept. Also, by my/our acceptance of these terms and conditions, I/we confirm the following: The information I/we have provided and that is entered on this form is correct and I am/we are aware of my/our obligation to immediately inform DIF Markets in the event of any change in such information; I/We have decided the amount of investment considering my/our financial circumstances as a whole and I/we consider it reasonable in light of such circumstances; I am/we are aware that DIF Market can only offer advice for that purpose, provided that I have given DIF Markets correct and sufficient information in this Client Application Form. Finally, I/We declare that: I/We have received from DIF Market the following information: (i) Evidence of DIF Markets are registered with the Central Bank of Uruguay, and (ii) Identification of costs, expenses, commissions, fees, insurance and other amounts applicable to incurred in the performance of the contractual relationship with DIF Markets. Please note that all information supplied is kept confidential in accordance with the Uruguayan financial Services Rules. SIGNATURES Date and place: Signature: Full name: DIF MARKETS AGENTE DE VALORES S.A. ZONAMERICA EDIFICIO@1 OFICINA 109 CP MONTEVIDEO-URUGUAY Telephone informacion@difmarkets.com l Web: 8 / 8 01/2018