23. Margin 保证金

23.1 Margin Arrangements. As a condition of entering into a Transaction, we may in our sole discretion require the deposit of funds or Collateral acceptable to us to secure your liability to us for any losses which may be incurred in respect of the Transaction (“Initial Margin”). Initial Margin is due and payable immediately as a condition to opening the relevant Transaction and we may decline to open any Transaction if you do not have sufficient available cash in your Account to satisfy the Initial Margin required for that Transaction at the time the relevant Order is placed. If there is an adverse movement in the price of a Transaction or Reference Asset or if we determine in our sole and absolute discretion that there is an increase in the risk of an adverse movement in the price of a Transaction or Reference Asset, we will require additional security from you in the form of cash deposits or other acceptable Collateral to supplement Initial Margin (“Variation Margin”).

保证金安排。作为进行交易条款之一，我们可能根据自行判断要求您提供我们接受的现金存款或抵押品，以向我们担保你对我们任何交易可能导致的任何损失责任（“初始保证金“）。初始保证金在开始进行交易一刻到期而且必须即时缴交。如下单时，您账户没有足够现金去满足保证金要求以进行相关交易，我们可能拒绝替您进行交易。如交易或参考资产价格因市场逆行、又如我们根据完全酌情权认定交易或参考资产价格逆行的风险被提高，我们会要求您提供额外的现金存款或其他我们接受的抵押品以补充初始保证金。（“价格变动保证金“）。

 

23.2 Changes in Margin Requirements. Margin requirements may be set and varied without prior notice from time to time in our sole and absolute discretion in order to cover any realised or unrealised losses arising from or in connection with Transactions, including subsequent variation of any Margin rates set at the time Transactions are opened.

保证金要求变更。保证金要求可能在没有事前通知您的情况下，由我们单当面不时制定或更改以应付任何已实现或未实现又与交易有关的损失，包括下单之后的任何保证金的更改。

 

23.3 Form of Margin. Margin must be provided by or on behalf of you in cash or other Collateral acceptable to us as determined by us in our sole and absolute discretion. You are obliged to maintain in your Account, at all times, sufficient funds to meet all Margin requirements. In addition, we will be entitled to treat any assets deposited with us by you from time to time (other than assets deposited for safe custody only) as Collateral against your Margin requirements. In all cases we will be entitled in our sole and absolute discretion to determine the value of any Collateral deposited with us. We are entitled to require payment of Margin of you (whether resident in the UK or in another jurisdiction) by telegraphic transfer or any other method of immediate/electronic funds transfer acceptable to us. Only funds received net of any bank charges, which relate to the transfer, will be credited as paid.

保证金形式。保证金必须是以您或以您的名义存放的现金或其他我们单方面认为可接受的形式支付。您有责任在任何时候于账户内存放足够的款项以满足保证金要求。另外，我们有绝对酌情权视您不时存入的资产为抵押品（存放的安全监管资产除外）以抵消保证金要求。在所有情况下，我们有绝对酌情权确定任何存放在我们处的抵押品的价值。我们有权要求您（无论您是否英国居民）以任何我们接受的电子或电话汇款方式缴付保证金。

 

23.4 Close-Out. In the event that there is insufficient Margin in your Account or in the event that the deposited Margin is not sufficient to meet the required Margin rates, as determined by us in accordance with clauses 23.1 and 23.2 of this Customer Agreement, and regardless of whether or not prior Margin Calls have been issued or not, we may in our sole discretion choose to close or terminate your Transaction and Account without notice to you immediately. This will not constitute an Event of Default. Without prejudice to the foregoing, any Transaction entered into by you or on your behalf which results in there being insufficient Margin to cover any actual or anticipated losses or liabilities in connection with your Account will constitute an Event of Default and we may in our discretion exercise our rights in clause 23 of this Customer Agreement, whether there has been a Margin Call or not. If we do not close or terminate your Transaction(s) where a Margin Call has not been honoured or Margin due is outstanding this shall not constitute a waiver of our rights nor any precedent with respect to the future conduct of your Account upon which you may rely.

平仓。如您的帐户未有足够保证金或所存款项未能满足我们根据本协议第17.2 项条款所指定的保证金要求，在或者未有发出追加保证金通告和通知您的情况下，我们可以单方面选择取消您的交易和账户，而这不会构成违约行为。在没有抵触上述条文的前提下，与您的账户有关，任何您或为您所作的交易导致保证金不足以抵消任何已实现或可预见之损失或责任，该行为将当作违约处理。我们可以单方面行使本协议第23 项条款所述之权利，无论有否发出追加保证金通告。如果在未发出追加保证金通知或未清偿到期保证金的情况下我们未平仓或终止您的交易，这不构成我们放弃任何权利，也不构成我们未来不会对您的账户采取行动的先例。

 

23.5 Margin Calls. Gain Capital UK does not accept any obligation to make Margin Calls and you may not rely upon, nor have any legitimate expectation that, Gain Capital UK will make such Margin Calls within any specific time period or at all. The absence of any Margin Call will not operate as a waiver of any of our rights or remedies under or in connection with this Customer Agreement. Notwithstanding the foregoing Gain Capital may from time to time and in its sole discretion call upon and request that you deposit additional Margin or Collateral to secure your obligations to Gain Capital UK. We shall be deemed to have made a Margin Call on you if we have left a message for you by telephone, email or through the platform message centre requesting you to contact us, or if we are unable to leave a message and have used reasonable endeavours to contact you by telephone, email or through the platform. Any message we leave for you requesting you to contact us should be regarded as extremely urgent. We shall not be liable for any losses you may suffer as a result of any failure to respond to an actual or deemed Margin Call.

追加保证金通告。嘉盛英国无任何发出追加保证金通告的义务，而您不可依赖或合理期待认为嘉盛英国将于任何特定时间内发出此类追加保证金通告。任何未发出追加保证金通告的情形不代表我们放弃任何与本客户协议有关或本协议下之权利或赔偿。虽有上述规定，但嘉盛集团可能不时以自行判断决定发出通告，及要求您存入额外保证金或抵押品以担保您对嘉盛英国之责任。如我们通过电话、电子邮件或通过平台信息留言请您联络我们，或在我们无法留言的情况下，我们已通过电话、电子邮件或平台以合理努力联络您，则应视为我们已向您发出了追加保证金通告。我们请您联络我们的留言应被视作极其紧急。如您未能就真实的或可被视为真实的追加保证金通告做出回应，又蒙受损失，我们对此不负责任。

 

23.6 If you have more than one Account we shall be entitled in our discretion (but shall not be obliged) to transfer and use available Margin, Collateral or other funds from one Account for the purposes of discharging Margin requirements or liabilities in one or more of your other Accounts even if such transfer may result in the closure of open positions in any Account from which Margin, Collateral or other funds are transferred.

如您的账户超过一个，则我们有权依自行判断（但无义务）将一个账户的可用保证金、抵押品或其他资金进行转移或使用，以清偿您其他一个或多个账户中的保证金要求或负债，即使该转移行为可能导致任何保证金、抵押品或其他资金转出账户的持仓头寸被平仓。

 

23.7 Negative Pledge. You undertake neither to create nor to have outstanding any security interest whatsoever over, nor to agree to assign or transfer, any of the Margin transferred to us, except a lien routinely imposed on all Securities in a clearing system in which such Securities may be held. 负质押。您不得对分配或转让给本公司的任何保证金设立或拥有任何尚未清偿的担保权益，除了在持有所有有关证券的清算系统中，对该等证券例行施加的留置权之外。

 

23.8 Power to Charge. You agree that we may, free of any adverse interest of yours or any other person, grant a security interest over Margin provided by you to cover any of our obligations to an intermediate broker or Market, including obligations owed by virtue of the positions held by us or another of our customers.

接管权。您同意我们，在不受您或其他人的相反利益影响下，可以将您存给我们的保证金的抵押利益赋予中介经纪市场或交易所，以应付我们对其的责任。这些责任可能是从我们的或其他顾客的头寸衍生。

 

23.9 Power of Sale. If an Event of Default occurs, we may exercise the power to sell all or any part of the Margin. The restrictions contained in Sections 93 and 103 of the Law of Property Act 1925 shall not apply to this Customer Agreement or to any exercise by us of our rights to consolidate mortgages or our power of sale. We shall be entitled to apply the proceeds of sale or other disposal in paying the costs of such sale or other disposal and in or towards satisfaction of the Secured Obligations.

出售权益。如有违约情况发生，我们可能行使出售权去出售部分或全部保证金。1925 产业法第93条跟103条，并不约制本协议或我们的出售权或我们行使综合各抵押的权利。我们有权以出售或其他处置方法所之利益支付与出售或其他处置方法所衍生的成本，直到利益保障被完全满足。

 

23.10 General Lien. In addition and without prejudice to any rights to which we may be entitled under this Customer Agreement or any Applicable Regulations, we shall have a general lien on all property held by us or our Affiliates or our nominees on your behalf until the satisfaction of the Secured Obligations.

一般留置权。除我们在本协议及任何有关法律之中的任何权益以外，在不抵触上述权益的情况下，我们另外拥有对任何以您的名义存于我们或我们的关连公司或我们的受托人的资产的一般留置权，直到利益保障被完全满足。

 

23.11 Any action taken by us in connection with or pursuant to a CFD or Rolling Spot Forex Contract or other Transaction by us at a time at which any Event of Default specified in clause 26 of this Customer Agreement has occurred (whether or not we have knowledge thereof) shall be entirely without prejudice to our right to refuse any further performance thereafter, and shall not in any circumstances be considered as a waiver of that right or as a waiver of any other rights of ours should any such Event of Default have occurred.

在我们知情或不知情之情况之下，如有据本协议第26条所指任何违约事件发生，而我们于该时间就差价合约、延展即期外汇或其他我们可能提供的交易所作出行为，该行为将不损害我们拒绝进一步履行合约义务的权利，亦在任何情况下不被视为我们放弃该权利或其他权利，如此类违约已然发生。

 

23.12 Security Interest. As a continuing security for the performance of all your obligations (whether actual or contingent, present or future) to us pursuant to or in connection with this Customer Agreement (“Secured Obligations”) you grant to us, with full title guarantee, a first priority fixed charge over, and security interest in, all non-cash Margin and other collateral (collectively “Collateral”) now or in the future provided by you to us or to our order or under our direction or control or that of a Market standing to the credit of your Account or otherwise held by us or any of our Affiliates or our or their nominees on your behalf.

担保权益。为能持续保障您履行根据或有关本客户协议对我们负有的所有(包括实际或或有、现在或将来的)债务（“被担保债务”），对于您现在及将来向我们或您账户所在市场提供或根据我们或该市场的指令、指示/控制所提供的，或我们或我们分支机构或我们或分支机构任命代表您以其他方式持有的所有非现金保证资产和其他抵押品（统称“抵押品”），您以完全所有权作担保，授予我们就上述抵押品的担保权益及第一优先顺序固定押记。

 

23.13 Further Assurance. You agree to execute such further documents and to take such further steps as we may request from time to time to create, perfect, maintain or protect our charge and security interest referred to in clause 23.12, to be registered as owner of or obtain legal title to all Collateral, to secure further the Secured Obligations, or to enable us to exercise our rights or satisfy any Market requirement.

额外保证。您同意就我们将来可能提出的要求，签处额外文件和执行额外行动，藉此创造、优化、保持或保护就本协议第23条12 项条款所指我们的押记和担保权益，使我们成为抵押品的注册拥有者或取得抵押品于法律上承认之权益，以进一步对债务进行担保，或使我们可以合法行使权利或满足市场要求。

 

23.14 Substitution. You may not withdraw or substitute any property or asset subject to our charge and security interest referred to in clause 23.12 without our prior written consent.

替代。除非事前得到我们的书面同意，否则您不可提取或以其他财产或资产代替任何我们已于23.21项列出所有享有押记和担保权益之财产或资产。

 

24. Right of Set-Off 抵消权

24.1 We may at any time set off, without prior notice to you or any other requirement，any obligation (whether or not such obligation is matured or contingent, whether or not arising under this Customer Agreement or under or in connection with any other agreement, transaction or instrument, and regardless of the Currency, place of payment or booking office of the obligation) you or any of your Affiliates may from time to time owe to us or any of our Affiliates, as reasonably determined by us, against any obligation (whether or not such obligation is matured or contingent, whether or not arising under this Customer Agreement or under or in connection with any other agreement, transaction or instrument, and regardless of the Currency, place of payment or booking office of the obligation) we or any of our Affiliates may then owe to you or any of your Affiliates, as reasonably determined by us.

在事前没有通知您或任何其他要求下，我们可能用您或与您相关的人/公司对我们或我们的分支公司的责任（由我们以合理的方法计算；无论此责任是否到期或未确定、是否从此协议或其他协议、交易、工具中衍生。无论此责任的货币、付款地点或此责任之登记办公室）在某些时间用来抵消我们或与我们分支于您或与您相关的人/公司的责任（由我们以合理的方法计算；无论此责任是否到期或未确定、是否从此协议或其他协议、交易、工具中衍生。无论此责任的货币、付款地点或此责任之登记办公室）。

 

24.2 For the purpose of any cross-currency set-off, we may convert either obligation at the applicable market exchange rate selected by us on the relevant date.

就交叉货币抵消，我们将自行挑选其中一种货币在相关日子以市价进行兑换。

 

24.3 If the amount of any obligation is unascertained, we may in good faith estimate that amount and set off in respect of the estimate, subject to us accounting to you when the amount of the obligation is ascertained.

如果责任金额不能肯定地被确定，在我们能确定金额后会向您报告的前提下，我们可能先以诚信的方法来估计其金额以进行抵消。

 

24.4 Our rights under this clause 24 will be in addition to any other right of set-off or similar right we may have, whether as a matter of contract, under common law, or otherwise.

第24条是我们在合约、普通法或其他类似的渠道下可能拥有的抵消权力或其他类似权利外之额外权利。

 

25. Representations, Warranties and Covenants 表示、保证和契约

25.1 Representations and Warranties. You represent and warrant to us on and as of the date this Customer Agreement comes into effect and on and as of each date on which any Transaction is outstanding, as follows:-

表示和保证。您在本客户协议生效日当天及就每一个交易未完成日为当日作以下表示和保证：

 

(a) if you are an individual that you are of sound mind, legal age and legal competence;

如您代表个人，您头脑清醒， 已达法定年龄和有法律能力；

 

(b) you are suitable to trade complex Financial Instrument, Margin Transactions, CFDs and Rolling Spot Forex Contracts and that you are aware of the risks involved with such transactions;

您适合进行复杂的金融工具、差价合约及延展即期外汇交易和您认知以上产品的相关风险；

 

(c) you are willing and financially able to sustain a total loss of all your funds paid to us as a result of engaging in Transactions;

您愿意并有能力承担因交易造成的支付给我们的全年所有的资金损失；

 

(d) you are not a citizen of the United States currently residing in the United States;

您不是目前居住于美国的美国公民；

 

(e) you have all necessary authority, powers, consents, licences and authorisations and have taken all necessary action to enable you lawfully to enter into and perform this Customer Agreement and such Transactions and to grant the security interests and powers referred to in this Customer Agreement;

您有所有所需权力、能力、认同、执照和授权，又已执行所有所需的行动以合法地进入和执行本协议、交易和赋予保证利益和权力；

 

(f) where applicable, the person or the persons entering into this Customer Agreement and each Transaction on your behalf has or have been duly authorised to do so;

在相关的情况下，为您而进入本协议和每一项交易者，都有被正式授权；

 

(g) this Customer Agreement, each Transaction and the obligations created under or in connection with them both are binding upon you and enforceable against you in accordance with their terms (subject to applicable principles of equity) and do not and will not violate the terms of any regulation, order, charge or agreement by which you are bound or which you or any of your assets are subject;

本协议、每一项交易和每一项从上述两者衍生的责任，于您有约束力，而且在没有抵触任何您或您的资产可能必需遵守的规条、指示、条款或协议下，可以对您依就相关条款强制执行（必须在公平的前提下执行）；

 

(h) no Event of Default or any event which may become (with the passage of time, the giving of notice, the making of any determination or any combination of the above) an Event of Default (a “Potential Event of Default”) has occurred with respect to you or any Credit Support Provider;

于您或任何信贷机构，没有发生违约事件或任何事件将成为(随时间推移，发出通知，作出决定，或上述两者综合)违约事件（“潜在违约事件”）；

 

(i) unless you have informed us otherwise in writing you act as principal and sole beneficial owner (but not as trustee) in entering into and performing this Customer Agreement and each Transaction; 除非您以书面形式通知我们，您将以合约主体和唯一权益拥有人身份（但不是受托人）进入和履行本协议和每一项交易；

 

(j) all details supplied on your Customer Account Application as well as any other information which you provide or have provided to us in respect of your financial position or other matters is accurate, complete and not misleading;

就您于账户申请表中向我们提供的所有细节以及与您的财务状况或其他有关的资料皆准确、完整，并不会产生误导；

 

(k) except as otherwise agreed by us, you are the sole beneficial owner of all Margin you transfer under this Customer Agreement, free and clear of any security interest whatsoever other than a lien routinely imposed on all Securities in a clearing system in which such Securities may be held; 除非我们同意，您是就本协议所转帐的保证金的唯一的权益拥有人，而没有其他担保权益, 除了结算系统中可能例行施加于所有证券之上的留置权，据此留置权该证券或被扣留；

 

(l) if you are not resident in the UK it is lawful under applicable laws of the jurisdiction of your residence to enter into this Customer Agreement and Transactions and that you have made all appropriate enquiries to ensure that this is the case.

如您并不是英国居民，则在您居住地司法管辖区域的适用法律而言，您签订本客户协议及进入交易合法，同时您已就确保上述合法性做了所有适合之查询。

 

(m) you are not acting in any way which is intended to or may be considered Market Abuse nor are you acting with the intention of contravening any provision of the Act, the FCA Rules, or any other Applicable Regulations.

您不会有任何故意为市场滥用，或可能被看成市场滥用的行为，您也不会有违反任何FCA法案规则或任何其他适用法规为目的的行为。

 

25.2 Covenants. You covenant and agree with us, as follows:

契约：您跟我们制定的契约和达成的共识，如下：

 

(a) you will at all times obtain and comply, and do all that is necessary to maintain in full force and effect, all necessary authority, powers, consents, licences and authorisations to (i) enable you to lawfully perform this Customer Agreement and each Transaction and (ii) without limiting the generality, interests and powers referred to in this Customer Agreement referred to in this clause;

您会在所有时候索取和遵守，进行所有所需行为去保持绝对及有效的所需权力、能力、认同、执照和授权以（i）容许您去合法的进行本协议及每一项交易和(ii) 没有设限此条款于本协议之下所指的普及性、利益和权力；

 

(b) you will promptly notify us of the occurrence of any Event of Default or Potential Event of Default with respect to you or, where applicable, any Credit Support Provider;

您会及时通知我们有关任何与您或，如适用，信贷机构的违约行为或可能违约行为的发生；

 

(c) unless you have informed us otherwise in writing, you will at all times act as principal and sole beneficial owner (but not as trustee) in performing this Customer Agreement and in entering into and performing each Transaction;

除非您以书面形式通知我们，您将在所有时候，以合约主体身份和唯一权益拥有人身份（但不是受托人）履行本客户协议和进入及履行每一项交易；

 

(d) you will promptly notify us if (i) you become aware of any detail supplied on your Customer Account Application or any other information provided to us in respect of your financial position or other matters being inaccurate, incomplete or misleading when supplied or provided or (ii) any such detail or information subsequently becomes inaccurate, incomplete or misleading;

如出现下列情形，您会即时通知我们： (i)您得悉任何有关您的账户申请表中的细节或提供给我们的其他关于您的财政状况或其他情况的信息有误、不完整或有误导性时(ii)任何诸如此类的细节或信息今后会变得不准确、不完整或有误导性时；

 

(e) you will at all times use all reasonable steps to comply with all Applicable Regulations in relation to this Customer Agreement and any Transaction; and

您将始终采取正规合理的方式遵守与本客户协议及任何交易有关的一切适用法规；以及

 

(f) upon demand, you will promptly provide us with such information as we may reasonably require or request in relation to any of the matters referenced in this clause 25 or, without limiting the generality of the foregoing, to ensure compliance with any Applicable Regulations.

根据需要，您将及时为我们提供我们就25条中涉及的任何事宜提出合理的要求或请求而提供资讯，在不影响前述规定的一般性的前提下，确保我们遵守任何适用条例。

 

26. Events of Default 违约事件

26.1 If at any time: 如在任何时候：

(a) you fail or, where applicable, any Credit Support Provider fails, to comply fully and by the required time with any obligation to make any payment when due under this Customer Agreement or to make or take delivery of Margin or any other property or asset under or in connection with this Customer Agreement or any Transaction;

您或在适用情况下，任何信用支持提供人未能完全遵守并未能在本协议要求的时间内履行按时付款的义务或履行缴纳或接收与本客户协议或任何交易相关的保证金或其他财产或资产的义务。

 

(b) we have reasonable grounds to believe that (i) you are or, where applicable, any Credit Support Provider is, in breach of any covenant or provision set out in this Customer Agreement or, where applicable, any related Credit Support Document or (ii) any representation or warranty made by you or, where applicable, any Credit Support Provider in this Customer Agreement or, where applicable, in any related Credit Support Document, or otherwise with respect to or in connection with any Transaction, is or was untrue, false or misleading when made, repeated or deemed to be made or repeated;

我们有合理的理由相信：(i)您或者在适用情况下，任何信用支持提供方有任何违背本客户协议中订立的契约或协议的行为或者，在适用情况下，任何相关的信用支持文件或(ii)您做出的任何表示或保证或者，在适用的情况下，本客户协议中的任何信用支持提供方或者，在适用的情况下，在任何相关的信用支持文件里，或者其他与任何交易有关或有联系的地方现在或过去在提供或引述时或被视为提供或重复时是不真实的、错误的或误导性的；

 

(c) any action is taken or any event occurs, in each case which we believe might have an adverse effect upon your ability to perform any of your obligations under or in connection with this Customer Agreement or any Transaction;

任何的行为或状况发生，无论哪一个被我们认定可能对您履行本客户协议或任何交易或有关的义务的能力造成负面影响时；

 

(d) we believe that doing so is necessary or desirable to prevent or address what might be a violation of the Act or any other Applicable Regulations or to ensure that good market practice is followed;

我们认为有需要或必要采取如此行动以阻止或应付违反相关条例或违反其他规则之处或为了保证建立良好的市场规范时；

 

(e) we believe that doing so is otherwise necessary or desirable for our own protection, whether from the perspective of financial exposure, reputational risk, or otherwise;

我们认为有需要或必要采取如此的行动进行自我保护时，无论从金融风险、口碑风险或其他角度来考虑；

 

(f) you die, become or are adjudged to be of unsound mind, are or become unable to pay your debts as they fall due, are or become bankrupt or insolvent within the meaning of any Insolvency Law, any indebtedness of yours or, where applicable, any Credit Support Provider is not paid on the due date therefore or is or becomes subject to being declared due and payable under any agreement or instrument evidencing or governing such indebtedness before it would otherwise have been due and payable, any suit, action or proceeding is commenced for any execution, any attachment or garnishment, or distress against, or an encumbrancer takes possession of, all or any part of the property, undertaking or assets (tangible and intangible) of you or, where applicable, any Credit Support Provider;

您死亡，变为或被诊断为精神失常，无能力或变得没有能力按期偿还债务，破产或沦为破产或被《破产法》定为破产的，您的任何债务或，在适用情况下，任何信用支持提供方的债务未能按时支付的或者在任何协议或证据下被宣告债务到期或在债务到期之前被宣告负责这些债务的，任何诉讼，任何开始执行的行为或过程、任何扣押债权，或者负担权益人占有您或在条例适用的情况下任何信用支持提供方的全部或部分财产、事业及资产(有形及无形)的；

 

(g) you are or, where applicable, any Credit Support Provider is dissolved, or, if your or any such Credit Support Provider’s capacity or existence is dependent upon a record in a formal register, such registration is removed or ends, any proceeding is commenced seeking or proposing your dissolution, removal from such a register or the ending of such a registration, or you take or, where applicable, any Credit Support Provider takes any corporate or other action in preparation or furtherance of any of the foregoing;

您，或者在适用情况下，任何信用支持提供方被解散，或者，您或任何信用支持提供方的身份或存在依赖于正式登记的记录，而此类登记被删除或终止，或您的身份正在解除或提议解除的过程中， 或正由此类登记中删除或终止，或您或在条例适用的情况下，任何信用支持提供方采取了其他行动以准备或促进任何前述规定；

 

(h) you commence or, where applicable, any Credit Support Provider commences a voluntary case or other procedure (i) seeking or proposing liquidation, reorganisation, an arrangement or composition, a freeze or moratorium, or other similar relief with respect to you or your debts or, where applicable, any Credit Support Provider or its debts under any Insolvency Law or (ii) seeking the appointment of an Insolvency Officer with respect to you or any substantial part of your assets or, where applicable, any Credit Support Provider or any substantial part of its assets, or you take or, where applicable, any Credit Support Provider takes any corporate or other action in preparation or furtherance of any of the foregoing;

您开始或在适用情况下，任何信用支持提供方开始在自动或其他程序下(i)寻求或准备清算、重组、协议或和解，冻结或延期偿付，或在任何破产法下有关您或您债务或在适用情况下，任何信用支持提供方或其债务的其他类似手段或(ii)寻求破产官员的邀约有关您或您任何俱重要性的的财产或者，在适用情况下，任何信用支持提供方或其任何俱重要性的财产，或您或在条例适用的情况下，任何信用支持提供方采取了其他行动以准备或促进任何前述规定；

 

(i) an involuntary case or other procedure is commenced against you or, where applicable, any Credit Support Provider (i) seeking or proposing liquidation, reorganisation, an arrangement or composition, a freeze or moratorium, or other similar relief with respect to you or your debts or, where applicable, any Credit Support Provider or its debts under any Insolvency Law or (ii) seeking the appointment of an Insolvency Officer with respect to you or any substantial part of your assets or, where applicable, any Credit Support Provider or any substantial part of its assets; 针对你或在适用情况下，任何信用支持提供方的非自愿情况或其他程序(i) i)寻求或准备清算、重组、协议或和解，冻结或延期偿付，或在任何破产法下有关您或您债务或在适用情况下，任何信用支持提供方或其债务的其他类似手段或(ii)寻求破产官员的邀约有关您或您任何俱重要性的财产或者，在适用情况下，任何信用支持提供方或其俱重要性的财产；

 

(j) you disaffirm, disclaim or repudiate or, where applicable, any Credit Support Provider or any Insolvency Officer acting on behalf of either you or any Credit Support Provider disaffirms, disclaims or repudiates any obligation under or in connection with this Customer Agreement, any Transaction or, where applicable, any related Credit Support Document;

您否认、抗议或否定或，在适用情况下，任何信用支持提供方或任何破产官员以您或者任何信用支持提供方的名义否认、抗议或否定本客户协议及其有关的任何责任与义务或任何交易或在适用情况下，任何有关的信用支持文件；

 

(k) any charge, security interest or lien created, purported to be created or otherwise contemplated by this Customer Agreement fails or ceases to be effective as such charge, security interest or lien to secure the performance of the Secured Obligations and otherwise for our benefit;

任何形成或据说形成或受本客户协议约束的受偿权、担保权益或抵押权或未能生效或效力终止的， 而不能提供扣押权、担保物权或抵押权以确保安全履行职责或为让我们受益；

 

(l) any Credit Support Document expires or ceases to be in full force and effect, unless otherwise agreed by us in a formal written instrument; or

任何信用支持文件超过有效期或以充分效力终止，除非经过我们书面同意；或者

 

(m) any actual or potential default, event of default, termination or similar event (however described) occurs in relation to you or, where applicable, any Credit Support Provider under any other agreement or instrument between us or issued or delivered to us;

在任何其他协议或我们之间订立的文件或签发或交付我们的文件下有关您或在适用情况下，任何信用支持提供方发生的任何实质或潜在违约，违约行为，终止或类似事件（不论实际称谓如何）；

 

(n) then, in each such case, we may (but we will not be obliged to) exercise any or all of our rights and remedies set out in clause 26.2.

在以上所有情况下，我们可能（但非义务）根据第26.2 项条款中行使我们的任何或所有的权利及索偿方法。

 

26.2 Upon occurrence of an Event of Default we may by notice specify a date for the termination of any or all outstanding Transactions, except that the occurrence of an Event of Default of a type specified in subparagraph (f), (h), (i) or (j) of clause 26.1 will result in the automatic termination of all outstanding Transactions. If any or all outstanding Transactions are terminated pursuant to the preceding sentences, we will be entitled, without prior notice to you and without limitation of any other rights or remedies we may have under this Customer Agreement or otherwise, to take any or all of the following actions:

违约行为发生后，我们可能通知您确定一个终止任何或全部未完成交易的时间，只是符合条款26.1 的(f), (h), (i) 或(j)中列明的违约行为的情况将导致所有未完成交易自动终止。如果任何或全部未完成交易根据上述语句决定，我们将有权在未事先通知您的情况下以及在不受本客户协议下我们可能拥有的其他权利或赔偿限制的情况下采取任何或全部以下措施：

 

(a) instead of returning to you assets equivalent to those credited to your Account, to pay to you the fair market value of such assets at the time such termination is effective;

不对您账户中所存资产等值的资产作退还处理，而取而代之以支付您该些资产于终止行为生效时的合理市场价值；

 

(b) to sell or otherwise liquidate , or to cause to be sold or otherwise liquidated, any or all of your Securities or Collateral (whether or not constituting Margin) in our possession or in the possession of any nominee or third party appointed under or in connection with this Customer Agreement, in each case as we may in our sole and absolute discretion select and at such price or prices, at such time or times and in such manner as we in our sole and absolute discretion think fit (without being responsible for any diminution in price or other loss), in order to realise funds sufficient to cover any amount due by you to us, including any and all costs related to the sale or other liquidation, which will be borne by you;

出售或清算，或导致出售或清算在本协议下任何由我们或受托人或第三方持有的部分或全部股票或抵押物（无论是否构成保证金的一部分），在每种情况下我们选择及指定我们单方面认为合适的价格、时间及方式（我们对价格降低或其他损失没有责任），目的是为了获得足够的资金以弥补您的欠款，包括任何或全部将由您承担的有关销售或其他清算的成本；

 

(c) to treat any or all Transactions then outstanding as having been repudiated by you, to close out, replace or reverse any or all such Transactions, to buy, sell, borrow or lend any Reference Asset, to enter into any other Transaction or to take, or refrain from taking, such other action, all at such price or prices, at such time or times and in such manner as we in our sole and absolute discretion consider necessary or appropriate to cover, reduce or eliminate our actual or potential loss or liability under or related to any of your contracts, positions or commitments;

将您任何或所有未完成交易当作您拒绝履行办，结算、取替或取消任何或所有此类交易，去买、卖、借取或借出任何参考资产，去进行任何交易或进行/不进行此类其他行为。我们有权单方面决定于任何价格，时间或方式去进行上述我们认为必须或合理的行为，以应付、减少或消除我们的实际或潜在损失或与任何与您的合约、头寸及承诺有关的负债；

 

(d) to make a claim under, enforce, or exercise any other right or remedy under or in connection with, any Credit Support Document;

提出要求、执行或行使任何信用支持文件下或与其有关的任何其他权利或索偿方法；

 

(e) to enforce any charge, security interest or lien created or otherwise contemplated by this Customer Agreement or to exercise our right of set-off provided in this Customer Agreement or any other right of set-off or similar right we may have, whether as a matter of contract, under common law, or otherwise; or

执行任何本客户协议制定或有考虑到的扣押权、担保物权或抵押权或行使我们在本客户协议下订立的抵消权利或任何其他抵消权利或我们其他类似的权利，无论衍生自合约、普通法或其他，或

 

(f) to close any or all of your Accounts. 结束您任何或全部账户。

26.3 We will not lose any of our rights or remedies under or referenced in this clause 26 by reason of any failure or delay on our part in exercising them, and no such failure or delay will constitute a waiver of any such right or remedy. Under no circumstances will we be under any obligation to exercise any such right or remedy or, if we do exercise any such right or remedy, to do so at a time or in a manner that takes into account your interests or is otherwise beneficial to you.

即使我们未能或延迟行使我方的权利或索偿方法，我们不会丧失第26条下或以其为依据的任何的权利或索偿方法，此外，未能履行或延迟并不代表我们放弃任何权利或索偿方法。我们没有责任必须要行使任何的权利或索偿方法，而我们如果要行使该些权利或索偿方法，我们不须考虑到您的利益或在对您有利的情况下行使该些权利或索偿方法。

 

26.4 Any action taken or not taken by us in connection with or pursuant to any Transaction at any time after the occurrence of any Event of Default (whether or not we have knowledge of such event) will be entirely without prejudice to our right to take or not take any similar action or to refuse to take any further action at any time thereafter, and does not in any circumstances constitute as a waiver of that right or any other rights or remedies of ours should any such Event of Default have occurred.

在任何违约行为发生以后（无论我们对此违约事件是否知情）的任何时间我们就任何交易采取或未采取的任何行为无损我们采取或不采取任何类似行为的权利或此后拒绝采取任何进一步行动的权利，并且，此类违约事件的发生，并不构成我方对上述或任何其他权利或索偿方法的放弃。

 

26.5 You agree to give us notice of any event of a type specified in clause 26.1 immediately upon becoming aware of its occurrence.

 一旦您意识到发生了条款26.1 下列明的任何情况，您将立即知会我们。

 

26.6 Notwithstanding anything in this Customer Agreement to the contrary, we will not be obliged to make any payment or delivery otherwise required to be made by us to you pursuant to or in connection with this Customer Agreement or any Transaction for as long as an Event of Default has occurred and is continuing.

即使本客户协议中有任何相反的条款，只要违约行为已经并仍在发生，我们没有义务就本协议或任何交易对您作出付款或交割。

 

26.7 Without limiting the generality of the foregoing provisions of this clause 26, Gain Capital UK will have the power in respect of any Collateral (other than in the form of cash) provided to us to secure your obligations and liabilities to Gain Capital UK under this Customer Agreement immediately and without prior notice to you, and without limiting our rights and remedies under any separate Collateral agreement or Credit Support Document or otherwise, to:

在不影响前述条款22 规定的一般性的前提下，嘉盛英国将立即拥有以下、相关于您就本客户协议中对嘉盛英国的责任及义务而提供给我们的抵押物品（除现金形式）的权力，亦不会事先通知您，且不限制我们在任何独立的抵押协议或信用支持文件下的权力和索偿方法：

 

(a) exchange all or any part of any Collateral into another form of Collateral acceptable to us as Collateral and/or into such currencies as we decide;

用任何抵押物的全部或任何部分交换为我们可以接受的其他形式的抵押品及/或交换为货币；

 

(b) sell or realise value from or exercise any right attaching to any Collateral as we may think fit and treat money as it were the proceeds of a sale or disposal;

在我们认为合适的情况下将任何抵押品变卖或变现或兑现抵押品附带的任何权利，

并将收入作为销售或处理所得。

(c) enter into such contracts as we see fit in order to hedge, preserve, enhance or stabilise the relative value of any Collateral;

在我们认为合适的情况下为进行对冲、保留、增加或维持任何抵押物的相对价值而签订相应合约；

 

(d) apply all or any part of any cash assets in your Account or proceeds of realisation of Collateral to paying the costs of realisation as well as towards restoring the Collateral to the level we require or toward your Secured Obligations and pay any balance to you or other persons entitled to it;

利用您账户或抵押物变现所得的全部或部分现金资产偿还变现成本及保留抵押物至我们要求的水平或您的有担保债务及将余额部分偿还您或其他权利人。

 

(e) appoint a receiver and collect and receive all interest, dividends, other distribution, proceeds of repayment or redemption and other payments and receipts of, on or in respect of any or all of your assets; and

任命一名接收人并搜集及接收您任何或全部资产下或有关的全部利息、分红、其他所得、补偿所得或赔偿及其他收入；及

 

(f) generally exercise all rights and remedies of secured creditors under applicable law.

根据适用法律行使担保债权人的所有权利及补偿。

 

26.8 If at the time we exercise our rights any of your Secured Obligations are contingent in nature, then we may if we so decide convert a contingent obligation into a cash equivalent obligation and/or apply any Collateral and/or the proceeds realised from any Collateral as we consider necessary in our sole opinion to provide for the discharge or settlement of the Secured Obligations. 如果在我们行使权利时，您的任何担保债务本质上属或有负债，当我们单方面认为有必要以下列方式对担保债务进行清偿或结算，则我们可能决定将此或有负债转为等值的现金债务及/或适用任何抵押物及/或任何抵押物的变现所得。

 

26.9 These terms apply whether or not you enter into, or have entered into, a separate Collateral agreement with us.

无论您是否已经或正在与我们签订独立的抵押品协议，这些条款均适用。

 

26.10 Statutory restrictions on the exercise by us of our power of sale over Collateral will not apply. You are not entitled to release our security interest over an item of Collateral by repaying an amount while leaving other items of collateral subject to our security interest. We retain our security interest over all Collateral until all Secured Obligations have been discharged or settled to our satisfaction.

关于我方行使抵押物销售权的法定限制不适用。您无权以偿还一定资金的形式解除我们对抵押物某一项担保权益，而保留我们对抵押物其他项的担保权益。我们保留全部抵押物的担保权益，除非全部担保债务以我们满意的方式清偿或结算。

 

26.11 Our rights and remedies under or referenced in this clause 26 will be in addition to any other rights or remedies we may have, whether as a matter of contract, under common law, or otherwise. 我们在第26条下及据其享有的权利及赔偿是我们无论根据合同、普通法或其他法规可能享有的其他权利及赔偿的补充。