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Below is a cache of http://bankdocs.interstock.ru/dx/Account_Forms.pdf. It's a snapshot of the page taken as our search engine crawled the Web.
The web site itself may have changed. You can check the current page or check for previous versions at the Internet Archive. Yahoo! is not affiliated with the authors of this page or responsible for its content. CUSTOMER ACCOUNT AGREEMENT CUSTOMER ACCOUNT AGREEMENT A C C O U N T N A M E A C C O U N T N U M B E R A C C O U N T E X E C U T I V E B U S I N E S S I N T R O D U C E D B Y For further information you may contact your Alaron Trading Broker or go to www.alaron.com MAKE ALL CHECKS PAYABLE TO: Alaron Trading Corporation IF WIRING FUNDS, USE THE FOLLOWING INSTRUCTIONS: BANK:
Harris Bank 111 W. Monroe
Chicago, IL 60606 ABA NUMBER:
071-000-288 CREDIT TO:
Alaron Trading Corp.
Customer Segregated Account
#165-083-7 FOR FURTHER CREDIT TO THE ACCOUNT OF: PLEASE NOTE: The originator of all funds to be deposited into your Alaron account by check, wire or otherwise, must always match the name listed as the account owner. FOR INTERNATIONAL WIRES: Include International Swift Address: HATRUS44 IF YOU ARE TRANSFERRING YOUR TRADING ACCOUNT TO ALARON: 1) Complete and sign account transfer form - Page 22
2) Attach a copy of your last statement 2 Alaron Trading Corporation RISK DISCLOSURE STATEMENT This statement is furnished to you because Rule 1.55 of the Commodity Futures Trading Commission
requires it. The risk of loss in trading commodity futures contracts can be substantial. You should, therefore,
carefully consider whether such trading is suitable for you in light of your circumstances and financial
resources. You should be aware of the following points: 1. You may sustain a total loss of the funds that you deposit with your broker to establish or maintain a position in the commodity futures market, and you may incur losses beyond these amounts. 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 required funds within the time required by your broker, your position may be liquidated at
a loss, and you will be liable for any resulting deficit in your account. 2. Under certain market conditions, you may find it difficult or impossible to liquidate a position. This can occur, for example, when the market reaches a daily price fluctuation limit ("limit move"). 3. Placing contingent orders, such as "stop-loss" or "stop-limit "orders, will not necessarily limit your losses to the intended amounts, since market conditions on the exchange where the order is placed may
make it impossible to execute such orders. 4. All futures positions involve risk, and a "spread" position may not be less risky than an outright "long" or "short" position. 5. The high degree of leverage (gearing) that is often obtainable in futures trading because of the small margin requirements can work against you as well as for you. Leverage (gearing) can lead to large
losses as well as gains. 6. You should consult your broker concerning the nature of the protections available to safeguard funds or property deposited for your account. ALL OF THE POINTS NOTED ABOVE APPLY TO ALL FUTURES TRADING WHETHER FOREIGN OR
DOMESTIC. IN ADDITION, IF YOU ARE CONTEMPLATING TRADING FOREIGN FUTURES OR
OPTIONS CONTRACTS, YOU SHOULD BE AWARE OF THE FOLLOWING ADDITIONAL RISKS: 7. Foreign futures transactions involve executing and clearing trades on a foreign exchange. This is the case even if the foreign exchange is formally "linked" to a domestic exchange, whereby a trade executed on
one exchange liquidates or establishes a position on the other exchange. No domestic organization regu-
lates the activities of a foreign exchange, including the execution, delivery, and clearing of transactions on
such an exchange, and no domestic regulator has the power to compel enforcement of the rules of the
foreign exchange or the laws of the foreign country. Moreover, such laws or regulations will vary depend-
ing on the foreign country in which the transaction occurs. For these reasons, customers who trade on for-
eign exchanges may not be afforded certain of the protections which apply to domestic transactions,
including the right to use domestic alternative dispute resolution procedures. In particular, funds received
from customers to margin foreign futures transactions may not be provided the same protection as funds
received to margin futures transactions on domestic exchanges. Before you trade, you should familiarize
yourself with the foreign rules which will apply to your particular transaction. 8. Finally, you should be aware that the price of any foreign futures or option contract and, therefore, the potential profit and loss resulting there from, may be affected by any fluctuation in the foreign exchange
rate between the time the order is placed and the foreign futures contract is liquidated or the foreign option
contract is liquidated or exercised. This brief statement cannot, of course, disclose all the risks and other aspects of the commodity markets. I hereby acknowledge that I have received and understood this risk disclosure statement. X Customer Signature Date ACCOUNT NUMBER 3 RISK DISCLOSURE STATEMENT Foreign Futures and Foreign Options This statement is furnished to you because Rule 30.6 of the Commodity Futures Trading Commission
requires it. The risk of loss in trading foreign futures and foreign options can be substantial. Therefore,
you should carefully consider whether such trading is suitable for you in light of your financial
condition. In considering whether to trade foreign futures or foreign options, you should be
aware of the following: 1. Participation in foreign futures and foreign options transactions involves the execution and clearing of trades on or subject to the rules of a foreign board of trade. 2. Neither the Commodity Futures Trading Commission, the National Futures Association nor any domestic exchange regulates activities of any foreign boards of trade, including the execution,
delivery and clearing of transactions, or has the power to compel enforcement of the rules of a for-
eign board of trade or any applicable foreign laws. Generally, the foreign transaction will be gov- erned by applicable foreign law. This is true even if the exchange is formally linked to a domestic market so that a position taken on the market may be liquidated by a transaction on another mar- ket. Moreover, such laws or regulations will vary depending on the foreign country in which the for- eign futures or foreign options transaction occurs. 3. For these reasons, customers who trade foreign futures or foreign options contracts may not be afforded certain of the protective measures provided by the Commodity Exchange Act, the
Commission's regulations and the rules of the National Futures Association and any domestic
exchange, including the right to use reparations proceedings before the Commission and arbitration
proceedings provided by the National Futures Association or any domestic futures exchange. In
particular, funds received from customers for foreign futures or foreign options transactions may not
be provided the same protections as funds received in respect of transactions on United States
futures exchanges. Therefore, you should obtain as much information as possible from your
account executive concerning the foreign rules which will apply to your particular transaction. 4. You should also be aware that the price of any foreign futures or foreign options contract and, there- fore, the potential profit and loss thereon, may be affected by any variance in the foreign exchange
rate between the time your order is placed and the time it is liquidated, offset or exercised. I have received a separate copy of the above risk disclosure statement, have read and fully understand it. FOR CORPORATIONS/PARTNERSHIPS FOR INDIVIDUAL/JOINT ACCOUNTS (All account participants must sign.) Print Name of Corporation or Partnership Signature Date Authorized Signature Date Signature Date Print Name and Title Signature Date 4 TABLE OF CONTENTS Risk Disclosure Statements....................................................................................... 2
Foreign Futures and Foreign Options Risk Disclosure Statement............................ 3
Customer Information................................................................................................ 5
Corporate Account Information.................................................................................. 6
Partnership Account Information................................................................................ 6
Trust Account Information..........................................................................................
Trust Authorization.....................................................................................................
Agreement.................................................................................................................
W-9 Section...............................................................................................................
Foreign Trader...........................................................................................................
Personal Guarantee..................................................................................................
Corporate Resolution and Indemnification................................................................
Third Party Controller Statement...............................................................................
Managed Account Authorization................................................................................
Hedge Confirmation Letter........................................................................................
Account Maintenance Fee Policy..............................................................................
Options Disclosure Statement...................................................................................
Account Transfer Form..............................................................................................
Additional Risk Disclosure.........................................................................................
ALARONLINE Agreement.........................................................................................
Customer Agreement................................................................................................ HOW TO OPEN AN ACCOUNT WITH ALARON TRADING CORPORATION 7
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23 Thank you for applying to open an account with Alaron Trading Corporation. Your account is very important to us. Depending
on the type of account you plan to open, the Federal Government regulatory agencies and the exchanges require that we
obtain certain information from you. In order to process your account application as promptly and accurately as possible
please read and complete the enclosed documents. TO OPEN AN ACCOUNT, ALL CUSTOMERS MUST: 1) COMPLETE ACCOUNT APPLICATION
PAGE 5 (FOR INDIVIDUAL/JOINT ACCOUNTS)
PAGE 6(CORPORATE ACCOUNT)
PAGE 6 (PARTNERSHIP ACCOUNT)
PAGE 7 (TRUST ACCOUNT) 2) READ CUSTOMER AGREEMENT AND SIGN - PAGES 8-12 3) COMPLETE TAXPAYER IDENTIFICATION INFORMATION - PAGE 13 - U.S. CUSTOMERS sign W-9 - ATTACH COPY OF GOVERNMENT IDENTIFICATION 4) READ AND SIGN RISK DISCLOSURE STATEMENT - PAGES 2-3 5) READ AND SIGN ACCOUNT MAINTENANCE FEE POLICY - PAGE 19 ADDITIONAL INFORMATION NEEDED FOR: TRADING NON-US MARKETS
FOREIGN FUTURES AND OPTIONS RISK DISCLOSURE - PAGE 3 CORPORATE ACCOUNTS
PERSONAL GUARANTEE - PAGE 14
COMPLETE AND SIGN CORPORATE RESOLUTION - PAGE 15
INCLUDE ARTICLES OF INCORPORATION TRUST ACCOUNTS
TRUST AUTHORIZATION - PAGE 7
PERSONAL GUARANTEE - PAGE 14
INCLUDE TRUST DOCUMENT PARTNERSHIP ACCOUNTS
GENERAL PARTNERS MUST COMPLETE A CUSTOMER INFORMATION APPLICATION - PAGE 5
INCLUDE PARTNERSHIP AGREEMENT LIMITED PARTNERSHIPS MUST INCLUDE A CERTIFICATE OF LIMITED PARTNERSHIP MANAGED ACCOUNTS
THIRD PARTY CONTROLLER STATEMENT - PAGE 16
MANAGED ACCOUNT AUTHORIZATION - PAGE 17 HEDGE ACCOUNTS
HEDGE CONFIRMATION LETTER - PAGE 18 5 CUSTOMER 1 E-mail Address Drivers License State No.
1. Name Social Security No.
2. Residence Address
3. City State Zip Country Do Not Provide P.O. Box. Refer to line #4 & 5. 4. Mailing address if different from above
5. City State Zip Country
6. Employer Nature of Business & Occupation
7. Business Address
8. City State Zip Country
9. Home Phone Business Phone Date of Birth
10. Bank Reference Account Number
11. Bank Address City State Country
12. Annual Income $ Less than $25,000 $25,000-$50,000 $50,000-$100,000 Over $100,000 13. Net Worth $ Less than $50,000 $50,000-$100,000 $100,000-$250,000 $250,000-$499,999 $ $500,000-$999,999 $1,000,000+ 14. Years of Experience: Futures Futures Options Stocks Stock Options Bonds Other
15. Name of Firms traded with:
16. Is this a joint account? YES NO IF YES, account will be Joint Tenants with Rights of Survivorship unless you indicate here for Tenants in Common
Tenants in Common 17. Does any other person/entity: A. Control the trading of this account? YES NO (If YES complete pages 14 & 15) B. Have a financial interest in this account? YES NO 18. If you have answered YES to any of the above, please give name(s) and phone of person(s):
19. Is there currently pending or has there ever been any litigation, disputed accounts or other unresolved matters between commodity
or securities brokers, exchanges, or federal or state regulatory bodies and you (or your officers or directors if a corporate customer)? YES NO If YES, please describe CUSTOMER 2 E-mail Address Drivers License State No.
1. Name Social Security No.
2. Residence Address
3. City State Zip Country Do Not Provide P.O. Box. Refer to line #4 & 5. 4. Mailing address if different from above
5. City State Zip Country
6. Employer Nature of Business & Occupation
7. Business Address
8. City State Zip Country
9. Home Phone Business Phone Date of Birth
10. Bank Reference Account Number
11. Bank Address City State Country
12. Annual Income $ Less than $25,000 $25,000-$50,000 $50,000-$100,000 Over $100,000 13. Net Worth $ Less than $50,000 $50,000-$100,000 $100,000-$250,000 $250,000-$499,999
$500,000-$999,999 $1,000,000+
14. Years of Experience: Futures Futures Options Stocks Stock Options Bonds Other
15. Name of Firms traded with:
16. Is this a joint account? YES NO IF YES, account will be Joint Tenants with Rights of Survivorship unless you indicate here for Tenants in Common
Tenants in Common 17. Does any other person/entity: A. Control the trading of this account? YES NO (If YES complete pages 14 & 15) B. Have a financial interest in this account? YES NO 18. If you have answered YES to any of the above, please give name(s) and phone of person(s):
19. Is there currently pending or has there ever been any litigation, disputed accounts or other unresolved matters between commodity or
securities brokers, exchanges, or federal or state regulatory bodies and you (or your officers or directors if a corporate customer)? YES NO If YES, please describe 6 CORPORATE ACCOUNT Corporation papers must be enclosed. E-mail Address 1. Name of Corporation Federal Tax ID#
2. Address of Corporation
3. City State Zip Country Do Not Provide P.O. Box. Refer to line #4 & 5. 4. Mailing address if different from above
5. City State Zip Country
6. Authorized to act with regard to this account
7. Purpose for which Corporation organized
8. Corporate Phone Other Phone
9. Bank Reference Account Number
10. Bank Address City State Country
11. Annual Income After Tax $ Less than $25,000 $25,000-$50,000 $50,000-$100,000 Over $100,000
12. Net Worth $ Less than $50,000 $50,000-$100,000 $100,000-$250,000 $250,000-$499,999 $ $500,000 - $999,999 $1,000,000+ 13. Years of Experience: Futures Futures Options Stocks Stock Options Bonds Other
14. Name of Firms traded with:
15. Will this account be traded on your behalf by anyone other than you? YES NO (If YES complete pages 14 & 15)
16. Does any other person/entity: A. Control the trading of this account? YES NO B. Have a financial interest in this account? YES NO 17. If you have answered YES to any of the above, please give name(s) and phone of person(s):
18. Is there currently pending or has there ever been any litigation, disputed accounts or other unresolved matters between commodity
or securities brokers, exchanges, or federal or state regulatory bodies and you (or your officers or directors if a corporate customer)? YES NO If YES, please describe PARTNERSHIP ACCOUNT Partnership Agreement must be enclosed. E-mail Address 1. Name of Partnership Federal Tax ID#
2. Type of Partnership Account: General Partnership Limited Partnership Other:
3. Address of Partnership
4. City State Zip Country Do Not Provide P.O. Box. Refer to line #4 & 5. 5. Mailing address if different from above
6. City State Zip Country
7. Authorized to act with regard to this account
8. Purpose for which Partnership organized
9. Main Phone Second Phone
10. Bank Reference Account Number
11. Bank Address City State Country
12. Annual Income After Tax $ Less than $25,000 $25,000-$50,000 $50,000-$100,000 Over $100,000
13. Net Worth $ Less than $50,000 $50,000-$100,000 $100,000-$250,000 $250,000-$499,999 $ $500,000-$999,999 $1,000,000+ 14. Years of Experience: Futures Futures Options Stocks Stock Options Bonds Other
15. Name of Firms traded with:
16. Will this account be traded on your behalf by anyone other than you? YES NO (If YES complete pages 14 & 15)
17. Does any other person/entity: A. Control the trading of this account? YES NO B. Have a financial interest in this account? YES NO 18. If you have answered YES to any of the above, please give name(s) and phone of person(s):
19. Is there currently pending or has there ever been any litigation, disputed accounts or other unresolved matters between commodity
or securities brokers, exchanges, or federal or state regulatory bodies and you (or your officers or directors if a corporate customer)? YES NO If YES, please describe Please note the following:
1. When opening a general partnership please have each partner fill out a customer information sheet on page two of this booklet.
2. Please include a copy of your partnership agreement. 7 TRUST ACCOUNT Trust documents must be enclosed. E-mail Address 1. Name of Trust Federal Tax ID#
2. Trust's Address
3. City State Zip Country Do Not Provide P.O. Box. Refer to line #4 & 5. 4. Mailing address if different from above
5. City State Zip Country
6. Name of authorized Trustee(s)
7. Telephone Number
8. Bank Reference Account Number
9. Bank Address City State Country
10. Annual Income $ Less than $25,000 $25,000-$50,000 $50,000-$100,000 Over $100,000 11. Net Worth $ Less than $50,000 $ $500,000-$999,999 $50,000-$100,000 $100,000-$250,000 $250,000-$499,999 $1,000,000+ 12. Does the Trust now, or did it ever, have an interest in a commodities account? Yes No
13. Name of Firms traded with:
14. Will this account be traded on your behalf by anyone other than a Trustee? YES NO (If YES complete pages 14 & 15)
15. Does any other person/entity: A. Control the trading of this account? YES NO B. Have a financial interest in this account? YES NO 16. If you have answered YES to any of the above, please give name(s) and phone of person(s):
17. Is there currently pending or has there ever been any litigation, disputed accounts or other unresolved matters between commodity
or securities brokers, exchanges, or federal or state regulatory bodies and you (or your officers or directors if a corporate customer)? YES NO If YES, please describe Please note the following:
1. When opening a Trust account please have each Trustee fill out a customer information sheet on page 2 of this booklet.
2. Please include a copy of your Trust document. TRUST AUTHORIZATION The undersigned Trustee warrants and represents that:
(1) The Trust is a duly formed and existing trust under the laws of the state of its formation and the party(ies) designated as trustee(s) thereof on the Account Application constitute(s) all of the (the only) proper trustee(s) thereof; (2) Trading in futures contracts is a proper purpose of the Trust, and it is within the Trust's power and such activity will in no manner contravene the provisions of the Trust Agreement, any statutes, rules or regulations, judgments, orders or decrees or agreements
to which the Trust is bound or subject; (3) Person(s) designated in the Account Application as having authority to act on behalf of the Trust, shall be duly authorized to exe- cute this Client Agreement and all related documents on behalf of the Trust and to act for the Trust in all matters regarding the
Trust's account(s). Alaron may at all times rely on the fact of such authority without any duty to investigate either the authenticity
or extent thereof; and (4) The Trustee, or other person authorized to act on behalf of the Trust or Plan, agrees to indemnify and hold harmless Alaron, its affiliates, agents, employees, successors and assigns, from and against any and all liabilities, losses, damages, costs and expens-
es, including reasonable attorneys fees, incurred by alaron arising out of the actions of Trustee with respect to the Trust or Plan. Signature:
Print Name:
Date: (Please attach copy of applicable authorization agreement and/or Trust/Plan document.)
(Attach additional signature blanks if necessary.) 8 READ THIS ENTIRE AGREEMENT BEFORE SIGNING. In consideration for Alaron Trading Corporation acting as FCM for the Undersigned in the pur-
chase and sale of commodity futures contracts, commodity option contracts, cash commodities and all other transactions related thereto (hereinafter
"Commodity Interests"), the Undersigned agrees as follows: 1. Agency. Customer authorizes FCM to purchase and sell Commodity Interests for Customer's account in accordance with Customers' oral, written or
electronic instructions as given to FCM by Customer's Introducing Broker ("IB") or Associated Person ("AP") or Floor Broker. Customer authorizes FCM,
for the accounts of Customer, to make such advances and expend such monies and, whenever possible to borrow and deliver such monies or securi-
ties or properties as may be required with respect to such transactions. All orders to buy or sell Commodity Interests must be complete and contain the
following information: (a) Whether such order is a buy or sell order; (b) Customer's Identity and account number; (c) Commodity Interest; (d) Quantity; (e)
Price, if applicable; (f) Contract delivery month; (g) Any special instructions. 2. Margins. Customer shall deposit with FCM sufficient funds to meet the applicable initial and maintenance margin requirements. FCM may reject any
order if Customer does not have sufficient margin on deposit and may delay the processing of any order while determining the correct margin status of
Customer's account. Customer shall, without notice or demand, maintain adequate margins at all times so as to continuously meet the margin require-
ments established by FCM. FCM may establish margin requirements and from time to time change such margin requirements in its sole and absolute
discretion and said requirements may exceed the margin requirements set by any commodity exchange or other regulatory authority. Customer agrees,
when requested by FCM, to immediately wire transfer funds to adequately maintain margins and to furnish FCM with the names of bank officers for
immediate confirmation of such transfers. Choosing not to demand wire transfer of funds or the acceptance of funds by mail shall not constitute a waiver of the right of FCM to demand wire transfer of funds at any time. If at any time Customer's account does not contain the amount of margin required, FCM may, in its sole and absolute discretion, without notice or demand to Customer, close out Customer's open position(s) in whole or in part or take any other action it deems necessary to satisfy such margin requirements. Failure of FCM to close out open position(s) in whole or in part in such circum-
stances shall not constitute a waiver of its rights to do so at any time thereafter, nor shall FCM be subject to any liability to Customer for its acts
or its failure to so act. 3. Treatment of Funds. Customer will maintain two accounts (2) on the books of the FCM. One designated "Regulated" where all transactions desig-
nated as regulated by the Commodity Futures Trading Commission ("CFTC") will be carried and the other designated "Nonregulated" where all other
transactions will be carried. FCM is hereby authorized to transfer funds as it deems necessary between these accounts. 4. Indemnification. Customer agrees to pay all debit balances and interest on debit balances at the rate of eight percent (8%) for the entire period the
debit shall exist. Customer further agrees to indemnify and hold FCM harmless against and from any and all deficits, losses, costs and damages (includ-
ing costs and attorney's fees incurred in collecting such) sustained by FCM resulting, directly or indirectly, from any action or omission by Customer with
respect to the account(s), including but not limited to, any debit balances which may occur in Customer's account, taxes that FCM may be required to
pay on any commodity interest or other property held in the accounts of the Customer or fine or penalty that FCM may be required to pay because
Customer caused FCM to violate any statute, regulation or rule of any exchange or regulatory body. 5. Reimbursement. In the event Customer institutes any action, proceeding or claim of any nature whatsoever against FCM, and FCM is successful,
either totally or partially, in defending such action, proceeding or claim, Customer shall reimburse FCM, upon demand, for all costs and expenses (includ-
ing reasonable attorneys fees) incurred by FCM in defending such action, proceeding or claim. It is further agreed that Customer shall reimburse FCM
on demand for any and all costs or expenses incurred by FCM in collecting any amounts due from Customer to FCM hereunder. 6. Acknowledgment Risks. Customer acknowledges that Commodity Interests trading is a highly speculative activity involving highly leveraged and
rapidly fluctuating markets. Despite such risks, Customer is willing and able to assume the financial risks and other hazards of Commodity Interests trad-
ing and agrees that Customer will in no manner hold FCM responsible for losses incurred by following IB's or FCM's trading recommendations or sug-
gestions and expressly hereby waives any claims therefor. Customer has read and understands the Risk Disclosure Statement. 7. Commission Fees. Customer agrees to pay to FCM any fees and/or commission charges in effect from time to time and other costs to FCM occa-
sioned by carrying the account of Customer. Customer agrees that FCM may debit Customer's account for customary brokerage and commission
charges and for charges for any other services rendered by FCM, including all payments made on behalf of Customer. Which charges may vary from
time to time, without notice to Customer. Customer agrees to pay any additional fees or commissions charged for taking and/or making deliveries, inter-
est, fees levied by the Regulatory authorities and commissions and fees charged for the transfer of the Customer's account to another FCM. 8. Interest. In accordance with CFTC Regulation 1.29, the FCM may receive and retain as its own any increment or interest resulting from the proper
investment of the funds held in the Customer's account. 9. Security Interest. Customer grants FCM a security interest in all monies, securities, negotiable instruments, open positions in Commodity Interests
and all receipts or other documents representing underlying commodities, including without limitation warehouse receipts, and all commodities represent-
ed by such receipts or other documents or other property now or at any future time held in Customer's account or which may be in FCM's possession for any purpose, including safekeeping, to secure payment of all obligations of Customer to FCM irrespective of the number of accounts Customer may have with FCM. FCM may at any time, in its sole and absolute discretion, liquidate any of the above-mentioned items in order to satisfy any margin or account deficiencies including but not limited to debit balances resulting from transactions executed by the FCM for the Customer, interest charges, serv-
ice charges, expenses incurred by FCM, including court costs and attorney's fees incurred in collecting debit or deficit balances of Customer in any
account and may transfer said property or assets to the general ledger account of FCM or pledge, transfer or lend such items, all without liability on the
part of FCM to Customer or any third party. Furthermore, FCM is also granted a security interest on all proceeds which now or at any time may come
into the Customers account, and the Customer agrees to execute any and all documents including Uniform Commercial Code financing statements,
deemed necessary or advisable by FCM to evidence or perfect such security interest. FCM shall also have full authority to set off, in addition to other
rights set forth in this Agreement, all debts owing to the FCM by the Customer against any and all claims which the Customer may have against the 9 FCM. Customer agrees that all demands for debits owing FCM shall be met within twenty-four (24) hours following either of (i) Customer's receipt of
FCM's oral request for payment or (ii) FCM's delivery to Customer of FCM's written request for payment (except as payment modified with respect to
wire and telephone requests for margin funds as herein set forth). 10. Deliveries/Failure to Deliver. At least two days prior to the first notice day in the case of long positions in futures or forward contracts and at least
two business days prior to the last trading day in the case of short positions in futures or forward contracts, Customer agrees either to give FCM instruc-
tions to liquidate or make or take delivery under such futures or forward contracts. Customer understands and acknowledges that additional risks exist
when participating in the delivery process. As such, Customer agrees to deposit such additional funds as FCM requires and provide any documents
FCM deems necessary including, but not limited to, proof of ability to accept or make delivery. Alaron may require Customer to maintain 100% of the
underlying cash value of a contract prior to its expiration. Should such margin or documentation not be received, FCM may exercise its right to liquidate
such positions in such contracts. Any such liquidation shall be performed at FCM's sole discretion. If at any time Customer shall be unable to deliver to FCM any security, commodity or other property previously sold by FCM on Customer's behalf,
Customer authorizes FCM, in FCM's sole discretion, to borrow or buy and deliver the same, and Customer shall immediately pay and indemnify FCM
for any costs, interest, losses and damages (including consequential costs, losses and damages) which FCM may sustain from its inability to borrow or
buy any such security, commodity or other property. In the event FCM takes delivery of any security, other property or commodity for Customer's
account, Customer agrees to indemnity and hold FCM harmless from and against any loss it may suffer resulting, directly or indirectly, from any decline
in value of said security, commodity or other property. 11. Market Information. Customer acknowledges that (a) any market recommendations or information communicated to Customer do not constitute an
offer to sell or the solicitation of an offer to buy any Commodity Interest; (b) any books, pamphlets or other information regarding market conditions or rec-
ommendations of the profitability of any particular trade or trades Customer may receive from FCM is deemed by FCM to have been obtained from sources believed to be reliable; and
The web site itself may have changed. You can check the current page or check for previous versions at the Internet Archive. Yahoo! is not affiliated with the authors of this page or responsible for its content. CUSTOMER ACCOUNT AGREEMENT CUSTOMER ACCOUNT AGREEMENT A C C O U N T N A M E A C C O U N T N U M B E R A C C O U N T E X E C U T I V E B U S I N E S S I N T R O D U C E D B Y For further information you may contact your Alaron Trading Broker or go to www.alaron.com MAKE ALL CHECKS PAYABLE TO: Alaron Trading Corporation IF WIRING FUNDS, USE THE FOLLOWING INSTRUCTIONS: BANK:
Harris Bank 111 W. Monroe
Chicago, IL 60606 ABA NUMBER:
071-000-288 CREDIT TO:
Alaron Trading Corp.
Customer Segregated Account
#165-083-7 FOR FURTHER CREDIT TO THE ACCOUNT OF: PLEASE NOTE: The originator of all funds to be deposited into your Alaron account by check, wire or otherwise, must always match the name listed as the account owner. FOR INTERNATIONAL WIRES: Include International Swift Address: HATRUS44 IF YOU ARE TRANSFERRING YOUR TRADING ACCOUNT TO ALARON: 1) Complete and sign account transfer form - Page 22
2) Attach a copy of your last statement 2 Alaron Trading Corporation RISK DISCLOSURE STATEMENT This statement is furnished to you because Rule 1.55 of the Commodity Futures Trading Commission
requires it. The risk of loss in trading commodity futures contracts can be substantial. You should, therefore,
carefully consider whether such trading is suitable for you in light of your circumstances and financial
resources. You should be aware of the following points: 1. You may sustain a total loss of the funds that you deposit with your broker to establish or maintain a position in the commodity futures market, and you may incur losses beyond these amounts. 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 required funds within the time required by your broker, your position may be liquidated at
a loss, and you will be liable for any resulting deficit in your account. 2. Under certain market conditions, you may find it difficult or impossible to liquidate a position. This can occur, for example, when the market reaches a daily price fluctuation limit ("limit move"). 3. Placing contingent orders, such as "stop-loss" or "stop-limit "orders, will not necessarily limit your losses to the intended amounts, since market conditions on the exchange where the order is placed may
make it impossible to execute such orders. 4. All futures positions involve risk, and a "spread" position may not be less risky than an outright "long" or "short" position. 5. The high degree of leverage (gearing) that is often obtainable in futures trading because of the small margin requirements can work against you as well as for you. Leverage (gearing) can lead to large
losses as well as gains. 6. You should consult your broker concerning the nature of the protections available to safeguard funds or property deposited for your account. ALL OF THE POINTS NOTED ABOVE APPLY TO ALL FUTURES TRADING WHETHER FOREIGN OR
DOMESTIC. IN ADDITION, IF YOU ARE CONTEMPLATING TRADING FOREIGN FUTURES OR
OPTIONS CONTRACTS, YOU SHOULD BE AWARE OF THE FOLLOWING ADDITIONAL RISKS: 7. Foreign futures transactions involve executing and clearing trades on a foreign exchange. This is the case even if the foreign exchange is formally "linked" to a domestic exchange, whereby a trade executed on
one exchange liquidates or establishes a position on the other exchange. No domestic organization regu-
lates the activities of a foreign exchange, including the execution, delivery, and clearing of transactions on
such an exchange, and no domestic regulator has the power to compel enforcement of the rules of the
foreign exchange or the laws of the foreign country. Moreover, such laws or regulations will vary depend-
ing on the foreign country in which the transaction occurs. For these reasons, customers who trade on for-
eign exchanges may not be afforded certain of the protections which apply to domestic transactions,
including the right to use domestic alternative dispute resolution procedures. In particular, funds received
from customers to margin foreign futures transactions may not be provided the same protection as funds
received to margin futures transactions on domestic exchanges. Before you trade, you should familiarize
yourself with the foreign rules which will apply to your particular transaction. 8. Finally, you should be aware that the price of any foreign futures or option contract and, therefore, the potential profit and loss resulting there from, may be affected by any fluctuation in the foreign exchange
rate between the time the order is placed and the foreign futures contract is liquidated or the foreign option
contract is liquidated or exercised. This brief statement cannot, of course, disclose all the risks and other aspects of the commodity markets. I hereby acknowledge that I have received and understood this risk disclosure statement. X Customer Signature Date ACCOUNT NUMBER 3 RISK DISCLOSURE STATEMENT Foreign Futures and Foreign Options This statement is furnished to you because Rule 30.6 of the Commodity Futures Trading Commission
requires it. The risk of loss in trading foreign futures and foreign options can be substantial. Therefore,
you should carefully consider whether such trading is suitable for you in light of your financial
condition. In considering whether to trade foreign futures or foreign options, you should be
aware of the following: 1. Participation in foreign futures and foreign options transactions involves the execution and clearing of trades on or subject to the rules of a foreign board of trade. 2. Neither the Commodity Futures Trading Commission, the National Futures Association nor any domestic exchange regulates activities of any foreign boards of trade, including the execution,
delivery and clearing of transactions, or has the power to compel enforcement of the rules of a for-
eign board of trade or any applicable foreign laws. Generally, the foreign transaction will be gov- erned by applicable foreign law. This is true even if the exchange is formally linked to a domestic market so that a position taken on the market may be liquidated by a transaction on another mar- ket. Moreover, such laws or regulations will vary depending on the foreign country in which the for- eign futures or foreign options transaction occurs. 3. For these reasons, customers who trade foreign futures or foreign options contracts may not be afforded certain of the protective measures provided by the Commodity Exchange Act, the
Commission's regulations and the rules of the National Futures Association and any domestic
exchange, including the right to use reparations proceedings before the Commission and arbitration
proceedings provided by the National Futures Association or any domestic futures exchange. In
particular, funds received from customers for foreign futures or foreign options transactions may not
be provided the same protections as funds received in respect of transactions on United States
futures exchanges. Therefore, you should obtain as much information as possible from your
account executive concerning the foreign rules which will apply to your particular transaction. 4. You should also be aware that the price of any foreign futures or foreign options contract and, there- fore, the potential profit and loss thereon, may be affected by any variance in the foreign exchange
rate between the time your order is placed and the time it is liquidated, offset or exercised. I have received a separate copy of the above risk disclosure statement, have read and fully understand it. FOR CORPORATIONS/PARTNERSHIPS FOR INDIVIDUAL/JOINT ACCOUNTS (All account participants must sign.) Print Name of Corporation or Partnership Signature Date Authorized Signature Date Signature Date Print Name and Title Signature Date 4 TABLE OF CONTENTS Risk Disclosure Statements....................................................................................... 2
Foreign Futures and Foreign Options Risk Disclosure Statement............................ 3
Customer Information................................................................................................ 5
Corporate Account Information.................................................................................. 6
Partnership Account Information................................................................................ 6
Trust Account Information..........................................................................................
Trust Authorization.....................................................................................................
Agreement.................................................................................................................
W-9 Section...............................................................................................................
Foreign Trader...........................................................................................................
Personal Guarantee..................................................................................................
Corporate Resolution and Indemnification................................................................
Third Party Controller Statement...............................................................................
Managed Account Authorization................................................................................
Hedge Confirmation Letter........................................................................................
Account Maintenance Fee Policy..............................................................................
Options Disclosure Statement...................................................................................
Account Transfer Form..............................................................................................
Additional Risk Disclosure.........................................................................................
ALARONLINE Agreement.........................................................................................
Customer Agreement................................................................................................ HOW TO OPEN AN ACCOUNT WITH ALARON TRADING CORPORATION 7
7
8-12
13
13
14
15
16
17
18
19
20-21
22
23
24
23 Thank you for applying to open an account with Alaron Trading Corporation. Your account is very important to us. Depending
on the type of account you plan to open, the Federal Government regulatory agencies and the exchanges require that we
obtain certain information from you. In order to process your account application as promptly and accurately as possible
please read and complete the enclosed documents. TO OPEN AN ACCOUNT, ALL CUSTOMERS MUST: 1) COMPLETE ACCOUNT APPLICATION
PAGE 5 (FOR INDIVIDUAL/JOINT ACCOUNTS)
PAGE 6(CORPORATE ACCOUNT)
PAGE 6 (PARTNERSHIP ACCOUNT)
PAGE 7 (TRUST ACCOUNT) 2) READ CUSTOMER AGREEMENT AND SIGN - PAGES 8-12 3) COMPLETE TAXPAYER IDENTIFICATION INFORMATION - PAGE 13 - U.S. CUSTOMERS sign W-9 - ATTACH COPY OF GOVERNMENT IDENTIFICATION 4) READ AND SIGN RISK DISCLOSURE STATEMENT - PAGES 2-3 5) READ AND SIGN ACCOUNT MAINTENANCE FEE POLICY - PAGE 19 ADDITIONAL INFORMATION NEEDED FOR: TRADING NON-US MARKETS
FOREIGN FUTURES AND OPTIONS RISK DISCLOSURE - PAGE 3 CORPORATE ACCOUNTS
PERSONAL GUARANTEE - PAGE 14
COMPLETE AND SIGN CORPORATE RESOLUTION - PAGE 15
INCLUDE ARTICLES OF INCORPORATION TRUST ACCOUNTS
TRUST AUTHORIZATION - PAGE 7
PERSONAL GUARANTEE - PAGE 14
INCLUDE TRUST DOCUMENT PARTNERSHIP ACCOUNTS
GENERAL PARTNERS MUST COMPLETE A CUSTOMER INFORMATION APPLICATION - PAGE 5
INCLUDE PARTNERSHIP AGREEMENT LIMITED PARTNERSHIPS MUST INCLUDE A CERTIFICATE OF LIMITED PARTNERSHIP MANAGED ACCOUNTS
THIRD PARTY CONTROLLER STATEMENT - PAGE 16
MANAGED ACCOUNT AUTHORIZATION - PAGE 17 HEDGE ACCOUNTS
HEDGE CONFIRMATION LETTER - PAGE 18 5 CUSTOMER 1 E-mail Address Drivers License State No.
1. Name Social Security No.
2. Residence Address
3. City State Zip Country Do Not Provide P.O. Box. Refer to line #4 & 5. 4. Mailing address if different from above
5. City State Zip Country
6. Employer Nature of Business & Occupation
7. Business Address
8. City State Zip Country
9. Home Phone Business Phone Date of Birth
10. Bank Reference Account Number
11. Bank Address City State Country
12. Annual Income $ Less than $25,000 $25,000-$50,000 $50,000-$100,000 Over $100,000 13. Net Worth $ Less than $50,000 $50,000-$100,000 $100,000-$250,000 $250,000-$499,999 $ $500,000-$999,999 $1,000,000+ 14. Years of Experience: Futures Futures Options Stocks Stock Options Bonds Other
15. Name of Firms traded with:
16. Is this a joint account? YES NO IF YES, account will be Joint Tenants with Rights of Survivorship unless you indicate here for Tenants in Common
Tenants in Common 17. Does any other person/entity: A. Control the trading of this account? YES NO (If YES complete pages 14 & 15) B. Have a financial interest in this account? YES NO 18. If you have answered YES to any of the above, please give name(s) and phone of person(s):
19. Is there currently pending or has there ever been any litigation, disputed accounts or other unresolved matters between commodity
or securities brokers, exchanges, or federal or state regulatory bodies and you (or your officers or directors if a corporate customer)? YES NO If YES, please describe CUSTOMER 2 E-mail Address Drivers License State No.
1. Name Social Security No.
2. Residence Address
3. City State Zip Country Do Not Provide P.O. Box. Refer to line #4 & 5. 4. Mailing address if different from above
5. City State Zip Country
6. Employer Nature of Business & Occupation
7. Business Address
8. City State Zip Country
9. Home Phone Business Phone Date of Birth
10. Bank Reference Account Number
11. Bank Address City State Country
12. Annual Income $ Less than $25,000 $25,000-$50,000 $50,000-$100,000 Over $100,000 13. Net Worth $ Less than $50,000 $50,000-$100,000 $100,000-$250,000 $250,000-$499,999
$500,000-$999,999 $1,000,000+
14. Years of Experience: Futures Futures Options Stocks Stock Options Bonds Other
15. Name of Firms traded with:
16. Is this a joint account? YES NO IF YES, account will be Joint Tenants with Rights of Survivorship unless you indicate here for Tenants in Common
Tenants in Common 17. Does any other person/entity: A. Control the trading of this account? YES NO (If YES complete pages 14 & 15) B. Have a financial interest in this account? YES NO 18. If you have answered YES to any of the above, please give name(s) and phone of person(s):
19. Is there currently pending or has there ever been any litigation, disputed accounts or other unresolved matters between commodity or
securities brokers, exchanges, or federal or state regulatory bodies and you (or your officers or directors if a corporate customer)? YES NO If YES, please describe 6 CORPORATE ACCOUNT Corporation papers must be enclosed. E-mail Address 1. Name of Corporation Federal Tax ID#
2. Address of Corporation
3. City State Zip Country Do Not Provide P.O. Box. Refer to line #4 & 5. 4. Mailing address if different from above
5. City State Zip Country
6. Authorized to act with regard to this account
7. Purpose for which Corporation organized
8. Corporate Phone Other Phone
9. Bank Reference Account Number
10. Bank Address City State Country
11. Annual Income After Tax $ Less than $25,000 $25,000-$50,000 $50,000-$100,000 Over $100,000
12. Net Worth $ Less than $50,000 $50,000-$100,000 $100,000-$250,000 $250,000-$499,999 $ $500,000 - $999,999 $1,000,000+ 13. Years of Experience: Futures Futures Options Stocks Stock Options Bonds Other
14. Name of Firms traded with:
15. Will this account be traded on your behalf by anyone other than you? YES NO (If YES complete pages 14 & 15)
16. Does any other person/entity: A. Control the trading of this account? YES NO B. Have a financial interest in this account? YES NO 17. If you have answered YES to any of the above, please give name(s) and phone of person(s):
18. Is there currently pending or has there ever been any litigation, disputed accounts or other unresolved matters between commodity
or securities brokers, exchanges, or federal or state regulatory bodies and you (or your officers or directors if a corporate customer)? YES NO If YES, please describe PARTNERSHIP ACCOUNT Partnership Agreement must be enclosed. E-mail Address 1. Name of Partnership Federal Tax ID#
2. Type of Partnership Account: General Partnership Limited Partnership Other:
3. Address of Partnership
4. City State Zip Country Do Not Provide P.O. Box. Refer to line #4 & 5. 5. Mailing address if different from above
6. City State Zip Country
7. Authorized to act with regard to this account
8. Purpose for which Partnership organized
9. Main Phone Second Phone
10. Bank Reference Account Number
11. Bank Address City State Country
12. Annual Income After Tax $ Less than $25,000 $25,000-$50,000 $50,000-$100,000 Over $100,000
13. Net Worth $ Less than $50,000 $50,000-$100,000 $100,000-$250,000 $250,000-$499,999 $ $500,000-$999,999 $1,000,000+ 14. Years of Experience: Futures Futures Options Stocks Stock Options Bonds Other
15. Name of Firms traded with:
16. Will this account be traded on your behalf by anyone other than you? YES NO (If YES complete pages 14 & 15)
17. Does any other person/entity: A. Control the trading of this account? YES NO B. Have a financial interest in this account? YES NO 18. If you have answered YES to any of the above, please give name(s) and phone of person(s):
19. Is there currently pending or has there ever been any litigation, disputed accounts or other unresolved matters between commodity
or securities brokers, exchanges, or federal or state regulatory bodies and you (or your officers or directors if a corporate customer)? YES NO If YES, please describe Please note the following:
1. When opening a general partnership please have each partner fill out a customer information sheet on page two of this booklet.
2. Please include a copy of your partnership agreement. 7 TRUST ACCOUNT Trust documents must be enclosed. E-mail Address 1. Name of Trust Federal Tax ID#
2. Trust's Address
3. City State Zip Country Do Not Provide P.O. Box. Refer to line #4 & 5. 4. Mailing address if different from above
5. City State Zip Country
6. Name of authorized Trustee(s)
7. Telephone Number
8. Bank Reference Account Number
9. Bank Address City State Country
10. Annual Income $ Less than $25,000 $25,000-$50,000 $50,000-$100,000 Over $100,000 11. Net Worth $ Less than $50,000 $ $500,000-$999,999 $50,000-$100,000 $100,000-$250,000 $250,000-$499,999 $1,000,000+ 12. Does the Trust now, or did it ever, have an interest in a commodities account? Yes No
13. Name of Firms traded with:
14. Will this account be traded on your behalf by anyone other than a Trustee? YES NO (If YES complete pages 14 & 15)
15. Does any other person/entity: A. Control the trading of this account? YES NO B. Have a financial interest in this account? YES NO 16. If you have answered YES to any of the above, please give name(s) and phone of person(s):
17. Is there currently pending or has there ever been any litigation, disputed accounts or other unresolved matters between commodity
or securities brokers, exchanges, or federal or state regulatory bodies and you (or your officers or directors if a corporate customer)? YES NO If YES, please describe Please note the following:
1. When opening a Trust account please have each Trustee fill out a customer information sheet on page 2 of this booklet.
2. Please include a copy of your Trust document. TRUST AUTHORIZATION The undersigned Trustee warrants and represents that:
(1) The Trust is a duly formed and existing trust under the laws of the state of its formation and the party(ies) designated as trustee(s) thereof on the Account Application constitute(s) all of the (the only) proper trustee(s) thereof; (2) Trading in futures contracts is a proper purpose of the Trust, and it is within the Trust's power and such activity will in no manner contravene the provisions of the Trust Agreement, any statutes, rules or regulations, judgments, orders or decrees or agreements
to which the Trust is bound or subject; (3) Person(s) designated in the Account Application as having authority to act on behalf of the Trust, shall be duly authorized to exe- cute this Client Agreement and all related documents on behalf of the Trust and to act for the Trust in all matters regarding the
Trust's account(s). Alaron may at all times rely on the fact of such authority without any duty to investigate either the authenticity
or extent thereof; and (4) The Trustee, or other person authorized to act on behalf of the Trust or Plan, agrees to indemnify and hold harmless Alaron, its affiliates, agents, employees, successors and assigns, from and against any and all liabilities, losses, damages, costs and expens-
es, including reasonable attorneys fees, incurred by alaron arising out of the actions of Trustee with respect to the Trust or Plan. Signature:
Print Name:
Date: (Please attach copy of applicable authorization agreement and/or Trust/Plan document.)
(Attach additional signature blanks if necessary.) 8 READ THIS ENTIRE AGREEMENT BEFORE SIGNING. In consideration for Alaron Trading Corporation acting as FCM for the Undersigned in the pur-
chase and sale of commodity futures contracts, commodity option contracts, cash commodities and all other transactions related thereto (hereinafter
"Commodity Interests"), the Undersigned agrees as follows: 1. Agency. Customer authorizes FCM to purchase and sell Commodity Interests for Customer's account in accordance with Customers' oral, written or
electronic instructions as given to FCM by Customer's Introducing Broker ("IB") or Associated Person ("AP") or Floor Broker. Customer authorizes FCM,
for the accounts of Customer, to make such advances and expend such monies and, whenever possible to borrow and deliver such monies or securi-
ties or properties as may be required with respect to such transactions. All orders to buy or sell Commodity Interests must be complete and contain the
following information: (a) Whether such order is a buy or sell order; (b) Customer's Identity and account number; (c) Commodity Interest; (d) Quantity; (e)
Price, if applicable; (f) Contract delivery month; (g) Any special instructions. 2. Margins. Customer shall deposit with FCM sufficient funds to meet the applicable initial and maintenance margin requirements. FCM may reject any
order if Customer does not have sufficient margin on deposit and may delay the processing of any order while determining the correct margin status of
Customer's account. Customer shall, without notice or demand, maintain adequate margins at all times so as to continuously meet the margin require-
ments established by FCM. FCM may establish margin requirements and from time to time change such margin requirements in its sole and absolute
discretion and said requirements may exceed the margin requirements set by any commodity exchange or other regulatory authority. Customer agrees,
when requested by FCM, to immediately wire transfer funds to adequately maintain margins and to furnish FCM with the names of bank officers for
immediate confirmation of such transfers. Choosing not to demand wire transfer of funds or the acceptance of funds by mail shall not constitute a waiver of the right of FCM to demand wire transfer of funds at any time. If at any time Customer's account does not contain the amount of margin required, FCM may, in its sole and absolute discretion, without notice or demand to Customer, close out Customer's open position(s) in whole or in part or take any other action it deems necessary to satisfy such margin requirements. Failure of FCM to close out open position(s) in whole or in part in such circum-
stances shall not constitute a waiver of its rights to do so at any time thereafter, nor shall FCM be subject to any liability to Customer for its acts
or its failure to so act. 3. Treatment of Funds. Customer will maintain two accounts (2) on the books of the FCM. One designated "Regulated" where all transactions desig-
nated as regulated by the Commodity Futures Trading Commission ("CFTC") will be carried and the other designated "Nonregulated" where all other
transactions will be carried. FCM is hereby authorized to transfer funds as it deems necessary between these accounts. 4. Indemnification. Customer agrees to pay all debit balances and interest on debit balances at the rate of eight percent (8%) for the entire period the
debit shall exist. Customer further agrees to indemnify and hold FCM harmless against and from any and all deficits, losses, costs and damages (includ-
ing costs and attorney's fees incurred in collecting such) sustained by FCM resulting, directly or indirectly, from any action or omission by Customer with
respect to the account(s), including but not limited to, any debit balances which may occur in Customer's account, taxes that FCM may be required to
pay on any commodity interest or other property held in the accounts of the Customer or fine or penalty that FCM may be required to pay because
Customer caused FCM to violate any statute, regulation or rule of any exchange or regulatory body. 5. Reimbursement. In the event Customer institutes any action, proceeding or claim of any nature whatsoever against FCM, and FCM is successful,
either totally or partially, in defending such action, proceeding or claim, Customer shall reimburse FCM, upon demand, for all costs and expenses (includ-
ing reasonable attorneys fees) incurred by FCM in defending such action, proceeding or claim. It is further agreed that Customer shall reimburse FCM
on demand for any and all costs or expenses incurred by FCM in collecting any amounts due from Customer to FCM hereunder. 6. Acknowledgment Risks. Customer acknowledges that Commodity Interests trading is a highly speculative activity involving highly leveraged and
rapidly fluctuating markets. Despite such risks, Customer is willing and able to assume the financial risks and other hazards of Commodity Interests trad-
ing and agrees that Customer will in no manner hold FCM responsible for losses incurred by following IB's or FCM's trading recommendations or sug-
gestions and expressly hereby waives any claims therefor. Customer has read and understands the Risk Disclosure Statement. 7. Commission Fees. Customer agrees to pay to FCM any fees and/or commission charges in effect from time to time and other costs to FCM occa-
sioned by carrying the account of Customer. Customer agrees that FCM may debit Customer's account for customary brokerage and commission
charges and for charges for any other services rendered by FCM, including all payments made on behalf of Customer. Which charges may vary from
time to time, without notice to Customer. Customer agrees to pay any additional fees or commissions charged for taking and/or making deliveries, inter-
est, fees levied by the Regulatory authorities and commissions and fees charged for the transfer of the Customer's account to another FCM. 8. Interest. In accordance with CFTC Regulation 1.29, the FCM may receive and retain as its own any increment or interest resulting from the proper
investment of the funds held in the Customer's account. 9. Security Interest. Customer grants FCM a security interest in all monies, securities, negotiable instruments, open positions in Commodity Interests
and all receipts or other documents representing underlying commodities, including without limitation warehouse receipts, and all commodities represent-
ed by such receipts or other documents or other property now or at any future time held in Customer's account or which may be in FCM's possession for any purpose, including safekeeping, to secure payment of all obligations of Customer to FCM irrespective of the number of accounts Customer may have with FCM. FCM may at any time, in its sole and absolute discretion, liquidate any of the above-mentioned items in order to satisfy any margin or account deficiencies including but not limited to debit balances resulting from transactions executed by the FCM for the Customer, interest charges, serv-
ice charges, expenses incurred by FCM, including court costs and attorney's fees incurred in collecting debit or deficit balances of Customer in any
account and may transfer said property or assets to the general ledger account of FCM or pledge, transfer or lend such items, all without liability on the
part of FCM to Customer or any third party. Furthermore, FCM is also granted a security interest on all proceeds which now or at any time may come
into the Customers account, and the Customer agrees to execute any and all documents including Uniform Commercial Code financing statements,
deemed necessary or advisable by FCM to evidence or perfect such security interest. FCM shall also have full authority to set off, in addition to other
rights set forth in this Agreement, all debts owing to the FCM by the Customer against any and all claims which the Customer may have against the 9 FCM. Customer agrees that all demands for debits owing FCM shall be met within twenty-four (24) hours following either of (i) Customer's receipt of
FCM's oral request for payment or (ii) FCM's delivery to Customer of FCM's written request for payment (except as payment modified with respect to
wire and telephone requests for margin funds as herein set forth). 10. Deliveries/Failure to Deliver. At least two days prior to the first notice day in the case of long positions in futures or forward contracts and at least
two business days prior to the last trading day in the case of short positions in futures or forward contracts, Customer agrees either to give FCM instruc-
tions to liquidate or make or take delivery under such futures or forward contracts. Customer understands and acknowledges that additional risks exist
when participating in the delivery process. As such, Customer agrees to deposit such additional funds as FCM requires and provide any documents
FCM deems necessary including, but not limited to, proof of ability to accept or make delivery. Alaron may require Customer to maintain 100% of the
underlying cash value of a contract prior to its expiration. Should such margin or documentation not be received, FCM may exercise its right to liquidate
such positions in such contracts. Any such liquidation shall be performed at FCM's sole discretion. If at any time Customer shall be unable to deliver to FCM any security, commodity or other property previously sold by FCM on Customer's behalf,
Customer authorizes FCM, in FCM's sole discretion, to borrow or buy and deliver the same, and Customer shall immediately pay and indemnify FCM
for any costs, interest, losses and damages (including consequential costs, losses and damages) which FCM may sustain from its inability to borrow or
buy any such security, commodity or other property. In the event FCM takes delivery of any security, other property or commodity for Customer's
account, Customer agrees to indemnity and hold FCM harmless from and against any loss it may suffer resulting, directly or indirectly, from any decline
in value of said security, commodity or other property. 11. Market Information. Customer acknowledges that (a) any market recommendations or information communicated to Customer do not constitute an
offer to sell or the solicitation of an offer to buy any Commodity Interest; (b) any books, pamphlets or other information regarding market conditions or rec-
ommendations of the profitability of any particular trade or trades Customer may receive from FCM is deemed by FCM to have been obtained from sources believed to be reliable; and
