Account Opening Form Individual Account Opening Form All sections of this Individual Account Opening Form must be completed in order for Foreign Currency Innovations to assess your suitability to open an account. It is essential that the information provided is accurate and if, at a future date, any circumstances affect this information you are required to write to us advising us of these details. This form must be accompanied by an Up to date CV or biography detailing your professional history. General Information Title (Mr, Mrs, Miss, Other): Full Name (as on passport): Nationality: Date of Birth: National Insurance No: Passport Expiry Date: Full Passport Number(bottom line on photo page): Residential Address: Postal Code: Length of Residency: Year: Months: Mailing Address (if different): Postal Code: Email Address: Home Tel: Mobile: Work Tel: Preferred method of contact: Email Home Work Mobile Employment Information Employment Status: Employed Self-Employed Unemployed Retired Employer's Name: Employer's principal type of business: Position Held: Time with employer: years Is/was employer an FCA member? Yes No Payment Information In regard to the bank account funds will be received from and any redemptions paid out to: Bank Name: Bank Address: Account Name: Account Number: Sort Code: IBAN: SWIFT: Fedwire Number(if applicable): Approximate annual income from all sources: Approximate net worth excluding private residence: Approximate value of your Investment Portfolio: Value of outstanding debts: Expected initial deposit size: Do you understand that only risk capital should be invested? Yes No Source(s) of your funds for trading: Employment Self-Employed Business Pension Inheritance Savings & Investments Other (please specify below) Investment Experience Equities Have you traded in Equities? Yes (if 'Yes' please give further details below) No Product Length of activity(no of years) Frequency(no. of transactions a year) Av. Transaction size(total consideration - £000) 0-1 1-2 2+ 1-39 40-80 80+ 0-5 6-25 25+ Capacity in which traded: Execution Only Advisory Discretionary Management Contracts for Difference Have you traded in CFDs? Yes (if 'Yes' please give further details below) No Product Length of activity(no of years) Frequency(no. of transactions a year) Av. Transaction size(total consideration - £000) 0-1 1-2 2+ 1-39 40-80 80+ 0-5 6-25 25+ Capacity in which traded: Execution Only Advisory Discretionary Management Alternative Investments / Funds Have you traded in Alternative Investments/ Funds? Yes (if 'Yes' please give further details below) No Product Fixed Income/ GILTs Bonds Funds Yes No Yes No Yes No Capacity in which traded: Execution Only Advisory Discretionary Management Options Have you traded in options? Yes (if 'Yes' please give further details below) No Product Length of activity(no of years) Frequency(no. of transactions a year) Av. Transaction size(total consideration - £000) Securities 0-1 1-2 2+ 1-39 40-80 80+ 0-5 6-25 25+ Currencies 0-1 1-2 2+ 1-39 40-80 80+ 0-5 6-25 25+ Options on Futures 0-1 1-2 2+ 1-39 40-80 80+ 0-5 6-25 25+ Other (please specify) 0-1 1-2 2+ 1-39 40-80 80+ 0-5 6-25 25+ Capacity in which traded: Execution Only Advisory Discretionary Management Futures Have you traded in futures? Yes (if 'Yes' please give further details below) No Product Length of activity(no of years) Frequency(no. of transactions a year) Av. Transaction size(total consideration - £000) Commodities 0-1 1-2 2+ 1-39 40-80 80+ 0-5 6-25 25+ Securities 0-1 1-2 2+ 1-39 40-80 80+ 0-5 6-25 25+ Interest rate instruments 0-1 1-2 2+ 1-39 40-80 80+ 0-5 6-25 25+ Stock indices 0-1 1-2 2+ 1-39 40-80 80+ 0-5 6-25 25+ Other indicies 0-1 1-2 2+ 1-39 40-80 80+ 0-5 6-25 25+ Currencies 0-1 1-2 2+ 1-39 40-80 80+ 0-5 6-25 25+ Other (please specify) 0-1 1-2 2+ 1-39 40-80 80+ 0-5 6-25 25+ Capacity in which traded: Execution Only Advisory Discretionary Management FX Have you traded in FX? Yes (if 'Yes' please give further details below) No Product Length of activity(no of years) Frequency(no. of transactions a year) Av. Transaction size(total consideration - £000) 0-1 1-2 2+ 1-39 40-80 80+ 0-5 6-25 25+ Capacity in which traded: Execution Only Advisory Discretionary Management Market Knowledge & Individual Objectives Briefly explain your experience and knowledge in relation to the transactions that the account manager plans to execute via Foreign Currency Innovations Limited Please provide a short summary of what the client is seeking to achieve through this engagement (for example capital growth/income stream etc.) Are there any specific risks you wish to avoid (Please specify) Client Classification Please select your desired Client Classification Status. Elective Professional Client (refer to Appendix A) Per Se Professional Client (refer to Appendix B) Eligible Counterparty (refer to Appendix C) Account Opening Declaration I confirm that the information provided to Foreign Currency Innovations Limited is true and accurate and may be relied upon by Foreign Currency Innovations Limited in assessing whether I meet the detailed requirements to be treated as a Professional Client. Account Name: Signed: Name: Position: Date: Appendix A Elective Professional Clients You as the client can request to be opted up to be an “Elective” Professional Client however you must ensure you meet the Qualitative Test and also the Quantitative Test. Under the rules of FCA being categorised as an Elective Professional Client, you will lose the protections of the rules which only apply to Retail Clients. In particular you should note that rules relating to the following areas do not apply, or only partially apply, to Elective Professional Clients: COMMUNICATING WITH CLIENTS, INCLUDING FINANCIAL PROMOTIONS As an Elective Professional Client the way in which we communicate with you may be different to the way in which we would communicate with a Retail Client. However, we must still ensure that our communications with you are fair, clear and not misleading. DISTANCE COMMUNICATIONS As an Elective Professional Client, it is possible that you may not meet the definition of a "consumer". If this is the case, then the requirements relating to distance communications will not apply. INFORMATION ABOUT THE FIRM, ITS SERVICES AND REMUNERATION There are specific pieces of information about the firm, our services and remuneration that we must provide to Retail Clients. We are obliged to provide information on these areas to all clients but the level of detail, medium and timing of the provision is less specific for those clients that are not Retail Clients. APPROPRIATENESS For transactions where we do not provide you with a personal recommendation (e.g. an execution only trade), we may be required to assess whether the transaction is appropriate for you. In these instances we are entitled to assume that, in relation to the products, transactions and services for which you are classified as an Elective Professional Client, you have the necessary level of experience and knowledge to understand the risks involved in the transaction. DEALING When providing Best Execution to you as an Elective Professional Client, price is likely to be of high relative importance. However we are not obliged to determine the best possible result in terms of the total consideration, representing the price of the financial instrument and the costs related to execution, although this will be one of the factors that we will consider. Furthermore, where there is more than one competing venue to execute an order we do not have to consider our own commissions and costs relating to each of the eligible execution venues when assessing which to use in order to provide best execution. REPORTING INFORMATION TO CLIENTS When providing confirmation that we have carried out your order, the timeframe we have to do so is greater than if you were a Retail Client. FINANCIAL OMBUDSMAN SERVICE You should note that the services of the Financial Ombudsman Service may not be available to you as an Elective Professional Client. It should be noted that you have the right to request a different client classification and are responsible for keeping Foreign Currency Innovations Limited informed about any change that could affect your categorisation as an Elective Professional Client. Qualitative Test Foreign Currency Innovations Limited will review the client’s expertise, experience and knowledge details provided in this Account Opening Form and will decide if the client is capable of making his or her own investment decisions and understanding the risks involved. If the client is an entity, the qualitative will be performed in relation to the person authorised to carry out transactions on its behalf. Quantitative Test The client must satisfy at least two of the following: Please tick the appropriate box and supply supporting documentation. The client has carried out transactions, in significant size, on the relevant market(s), at an average frequency of 10 per quarter over the previous 4 quarters. Yes No The size of the client’s financial instrument portfolio, defined as including cash deposits and financial instruments, exceeds EUR 500,000. Yes No The client works or has worked in the financial sector for at least one year in a professional position which requires knowledge of the transactions envisaged. Yes No Elective Professional Declaration We wish to be classified as an Elective Professional client under FCA rules. We are aware that being treated as an elective professional client affords less investor protection than being classified as a retail client. We hereby confirm by signing below that we have read and agree to the contents of Appendix A, in particular, points 1 to 7. We are aware that being treated as an Elective Professional Client affords less investor protection than being treated as a Retail Client. We also agree to keep Foreign Currency Innovations Limited informed of any changes in our circumstances that could affect our categorisation as an Elective Professional Client. Account Name: Signed: Name: Position: Date: Appendix B Per Se Professional Client Each of the following is a Per Se Professional Client unless and to the extent it is an Eligible Counterparty or is given a different categorisation. An entity required to be authorised or regulated to operate in the financial markets. The following list includes all authorised entities carrying out the characteristic activities of the entities mentioned, whether authorised by an EEA State or a third country and whether or not authorised by reference to a directive: Credit institutions Investment firms Other authorised or regulated financial institutions Insurance companies Collective investment schemes and their management companies Pension funds and their management companies Commodity and commodity derivative dealers Locals Other institutional investors In relation to MiFID or equivalent third country business a large undertaking meeting two of the following size requirements on a company basis: Balance sheet total of EUR 20,000,000 Net turnover of EUR 40,000,000 Own funds of EUR 2,000,000 In relation to business that is not MiFID or equivalent third country business a large undertaking meeting any of the following conditions: A body corporate (including a limited liability partnership) which has (or any of whose holding companies or subsidiaries has) (or has had at any time during the previous two years) called up share capital or net assets of at least ÂŁ5 million (or its equivalent in any other currency at the relevant time) An undertaking that meets (or any of whose holding companies or subsidiaries meets) two of the following tests: a balance sheet total of EUR 12,500,000 a net turnover of EUR 25,000,000 an average number of employees during the year of 250 A partnership or unincorporated association which has (or has had at any time during the previous two years) net assets of at least ÂŁ5 million (or its equivalent in any other currency at the relevant time) and calculated in the case of a limited partnership without deducting loans owing to any of the partners A trustee of a trust (other than an occupational pension scheme, SSAS, personal pension scheme or stakeholder pension scheme) which has (or has had at any time during the previous two years) assets of at least ÂŁ10 million (or its equivalent in any other currency at the relevant time) calculated by aggregating the value of the cash and designated investments forming part of the trust's assets, but before deducting its liabilities A trustee of an occupational pension scheme or SSAS, or a trustee or operator of a personal pension scheme or stakeholder pension scheme where the scheme has (or has had at any time during the previous two years): at least 50 members; and assets under management of at least ÂŁ10 million (or its equivalent in any other currency at the relevant time) A local authority or public authority. National and regional governments, public bodies that manage public debt, central banks and international and supranational institutions. Other institutional investors whose main activity is to invest in financial instruments, including entities dedicated to the securitisation of assets or other financing transactions. Appendix C Eligible Counterparties An eligible counterparty is a client that is either a per se eligible counterparty or an elective eligible counterparty. A client can only be an eligible counterparty in relation to eligible counterparty business. Each of the following is a per se eligible counterparty (including an entity that is not from an EEA state that is equivalent to any of the following) unless and to the extent it is given a different categorisation under this chapter: An investment firm A credit institution An insurance company A collective investment scheme authorised under the UCITS Directive or its management company A pension fund or its management company Another financial institution authorised or regulated under European Community legislation or the national law of an EEA State An undertaking exempted from the application of MiFID under either Article 2(1) (k) (certain own account dealers in commodities or commodity derivatives) or Article 2(1) (l) (locals) of that directive A national government or its corresponding office, including a public body that deals with the public debt A central bank A supranational organisation A firm may treat a client as an elective eligible counterparty if: The client is an undertaking and: Is a per se professional client (except for a client that is only a per se professional client because it is an institutional investor under COBS 3.5.2 R (5)) and, in relation to business other than MiFID or third country business: Is a body corporate (including a limited liability partnership) which has (or any of whose holding companies or subsidiaries has) called up share capital of at least ÂŁ10 million (or its equivalent in any other currency at the relevant time); or Meets the criteria in the rule on meeting two quantitative tests (COBS 3.5.2 R (3)(b)); or Requests such categorisation and is an elective professional client, but only in respect of the services or transactions for which it could be treated as a professional client; and The firm has, in relation to MiFID or equivalent third country business, obtained express confirmation from the prospective counterparty that it agrees to be treated as an eligible counterparty.