Risikoadvarsel
Handel med produkter og ydelser, som Saxo Bank A/S (herefter Saxo Bank Group) tilbyder, kan resultere i tab såvel som fortjeneste, også selvom handlen sker i overensstemmelse med en anbefaling. Især handel med lånefinansierede/gearede produkter såsom, men ikke begrænset til, valuta, derivater og råvarer kan være yderst spekulativ, hvorfor tab og fortjeneste kan variere voldsomt og hurtigt.
Spekulationshandel er ikke velegnet til alle investorer
Enhver omtale i en publikation af de risici, der er forbundet med et bestemt produkt eller en bestemt ydelse, hverken bør eller skal opfattes som en samlet oplysning eller en komplet beskrivelse af alle de risici, der er forbundet med et sådan produkt eller en sådan ydelse. Saxo Bank Group skal på det kraftigste opfordre alle, der overvejer at handle med Saxo Bank Groups produkter og ydelser, til at benytte og hele tiden rådføre sig med egnede finansielle rådgivere forud for gennemførelse af investeringer eller transaktioner.
Ingen anbefalinger
Saxo Bank Group tager ikke i nogen af Saxo Bank Groups publikationer hensyn til bestemte modtageres investeringsformål, specielle investeringsmål, finansielle situation samt specifikke behov og krav. Derfor er alle publikationer fra Saxo Bank Group, medmindre andet er specifikt angivet, kun tilsigtet informations- og/eller markedsføringsformål, og de skal ikke opfattes som:
- forretnings-, finansiel-, investerings-, kurssikrings-, juridisk-, lovgivnings-, skatte- eller regnskabsrådgivning,
- en anbefaling eller handelsidé, eller
- enhver anden form for opfordring til at handle, investere eller sælge på en bestemt måde.
(herefter benævnt "anbefalinger").
Saxo Bank Group er ikke ansvarlig for tab hidrørende fra en investering, der er foretaget på baggrund af en formodet anbefaling.
Uanset hvad der måtte fremgå skal ingen publikation (inklusive mulige anbefalinger) tolkes som en garanti (hverken direkte eller indirekte) for, at modtageren vil profitere af handel i overensstemmelse med en handelsstrategi angivet i en publikation, eller at modtageren ikke vil lide tab ved handel i overensstemmelse med en handelsstrategi angivet i en publikation. Saxo Bank Group er kun ansvarlig (i overensstemmelse med afsnittet "Begrænset ansvar" nedenfor), hvis en mulig anbefaling ikke lever op til en god og professionel standard for sådanne anbefalinger.
Ingen garanti
Saxo Bank Group gør sig alle rimelige bestræbelser på at indhente information fra pålidelige kilder, men alle publikationer udgives "som beset" uden nogen form for garanti (hverken direkte eller indirekte), og Saxo Bank Group frasiger sig ansvaret for enhver publikation, som ikke er komplet, præcis, egnet eller relevant for modtageren. Specifikt frasiger Saxo Bank Group sig ansvaret over for enhver abonnent, kunde, partner, leverandør, modpart og anden modtager for:
- nøjagtigheden af enhver leveret markedskurs,
- enhver forsinkelse, unøjagtighed, fejl, afbrydelse eller udeladelse i leveringen af markedskurser, og
- ethvert ophør af tidligere leverede markedskurser.
Saxo Bank Groups publikationer bliver ikke opdateret efter deres udgivelse og kan derfor blive unøjagtige og muligvis misvisende efter et stykke tid, hvilket kan variere fra sekunder og minutter til dage, uger og måneder afhængig af informationen. Saxo Bank Group giver ingen garanti og påtager sig intet ansvar over for nogen modtager for, at publikationer ikke er forældede.
Såfremt en publikation forældes, er Saxo Bank Group på ingen måde forpligtet til at:
- opdatere publikationen,
- informere modtagerne af publikationen, eller
- foretage nogen anden handling.
Enhver publikation kan være personlig for ophavsmanden og afspejler ikke nødvendigvis Saxo Bank Groups holdninger. Saxo Bank Group forbeholder sig retten til efter eget skøn at tilbagetrække eller ændre enhver given publikation eller information uden varsel (forudgående eller efterfølgende).
Risici i forbindelse med internethandel
Der er risici forbundet med at benytte internetbaserede handelseksekveringssystemer, herunder, men ikke begrænset til, nedbrud i forbindelse med hardware, software og internet. Eftersom Saxo Bank Group ikke kontrollerer signalstyrke, modtagelse eller videresendelse via internettet, konfiguration af kunders udstyr eller forbindelsens driftsikkerhed, ifalder Saxo Bank Group ikke ansvar for kommunikationsfejl, forvridninger eller forsinkelser, når der handles via internettet. Saxo Bank Group benytter backup-systemer og beredskabsplaner for at minimere risikoen for systemfejl, og desuden er der mulighed for telefonisk handel.
Brug af hjemmesiden
Enhver brug af Saxo Bank Groups hjemmesider er underlagt Copyright-bestemmelserne og Saxo Bank Groups Vilkår og betingelser for brug. Begge sæt betingelser skal anses som udgørende en integreret del af denne ansvarsfraskrivelse.
Saxo Bank Group er ikke ansvarlig for noget krav eller noget tab, som opstår på baggrund af en fysisk eller juridisk persons adgang til, eller manglende adgang til, enhver af Saxo Bank Groups hjemmesider. Denne afgrænsning inkluderer, men er ikke begrænset til, enhver beskadigelse af computerudstyr og computersystemer forårsaget af virus, malware eller enhver anden skadelig computerprogrammering.
Brug af en af Saxo Bank Groups hjemmesider eller modtagelse af en af Saxo Banks Groups publikationer udgør ikke et kundeforhold, og Saxo Bank Group har ingen pligt og påtager sig ikke nogen forpligtelse eller noget ansvar over for nogen fysisk eller juridisk person som et resultat deraf.
Ansvarsfraskrivelse
I tillæg til oplysningerne i denne risikoadvarsel henvises til Saxo Bank Groups ansvarsfraskrivelse.
Extended Hours Trading
You should consider the following points before engaging in Extended Hours Trading in the U.S (United States). securities market. “Extended Hours Trading” means trading in (a) “Pre-Market Trading Hours” of between 7:00 a.m. and 9:30 a.m. Eastern Time; and (b) “After-Hours Trading Hours” of between 4:00 p.m. and 5:00 p.m. Eastern Time respectively. “Regular Hours Trading” means trading from 9:30 a.m. to 4:00 p.m. Eastern Time.
1. General Risks
a. Risk of Lower Liquidity. Liquidity refers to the ability of market participants to buy and sell securities. Generally, the more orders that are available in a market, the greater the liquidity. Liquidity is important because with greater liquidity it is easier for investors to buy or sell securities, and as a result, investors are more likely to pay or receive a competitive price for securities purchased or sold. There may be lower liquidity during Extended Hours Trading compared to Regular Hours Trading. As a result, your order in Extended Hours Trading may only be partially executed, not executed at all, or may receive inferior pricing.
b. Risk of Higher Volatility. Volatility refers to the changes in price that securities undergo when trading. Generally, the higher the volatility of a security, the greater its price swings. There may be greater volatility during Extended Hours Trading. As a result, your order may only be partially executed, or not at all, or you may receive an inferior price when engaging in Extended Hours Trading than you would during Regular Hours Trading.
c. Risk of Changing Prices. The prices of securities traded during Extended Hours Trading may not reflect the prices in Regular Hours Trading. As a result, you may receive an inferior price when engaging in Extended Hours Trading than you would during Regular Hours Trading. Additionally, securities underlying the indexes or portfolios will not be regularly trading as they are during Regular Hours Trading or may not be trading at all. This may cause prices during Extended Hours Trading not reflecting the prices of those securities when they open for trading.
d. Risk of Unlinked Markets. Depending on the Extended Hours Trading system or the time of day, the prices displayed on a particular Extended Hours Trading system may not reflect the prices in other concurrently operating Extended Hours Trading systems dealing in the same securities. Accordingly, you may receive a price in one Extended Hours Trading system that is inferior to the price you would receive in another Extended Hours Trading system.
e. Risk of News Announcements. Normally, issuers make news announcements that may affect the price of their securities after Regular Hours Trading. Similarly, important financial information is frequently announced outside of Regular Hours Trading. In Extended Hours Trading, these announcements may occur during trading, and if combined with lower liquidity and higher volatility, may cause an exaggerated and unsustainable effect on the price of a security.
f. Risk of Wider Spreads. The spread refers to the difference between the price at which a security can be purchased and the price at which it can be sold. Lower liquidity and higher volatility in Extended Hours Trading may result in wider than normal spreads for a particular security.
2. Order Handling
a. Limit Orders. All existing limit orders placed with respect to eligible Instruments which have the ‘Extended Hours’ option enabled on the respective trade tickets will continue to be executed during Pre-Market Trading Hours or After-Hours Trading Hours sessions. Any residual unfilled limit orders existing after the session close of (1) Pre-Market Trading Hours will be rolled into the continuous session of Regular Hours Trading; (2) Regular Hours Trading will be rolled into the continuous session of After-Hours Trading; and (3) After-Hours Trading Hours will be rolled into the continuous session of Pre-Market Trading Hours, provided such limit order is not cancelled, expired, or as otherwise indicated by you.
b. Stop Orders and Conditional Orders. Stop orders and Conditional orders will not be triggered by price updates received for Instruments available for and during Extended Hours Trading, and will only be triggered by price updates for such Instruments during Regular Hours Trading.
c. Corporate Actions. Certain Instruments affected by a corporate action event may not be allowed to trade during the Extended Hours Trading at our discretion unless all relevant orders and positions can be correctly handled.
3. Margin Requirement
Price updates received for Instruments available for and during Extended Hours Trading will impact the initial margin available but will not impact the maintenance margin available in your Account(s). However, your margin utilisation may still change during Extended Hours Trading due to trading activity in the Extended Hours Trading session, including trading in other Instruments or currency fluctuation. If your Margin Requirement is reached or breached during Extended Hours Trading, Saxo may not close any and all Contracts and Margin Positions for such Instruments until Regular Hours Trading but may close any other Instruments immediately that are in the Regular Trading Session.
4. Account shield
Your Account shield will not be triggered by price updates received for Instruments available for and during Extended Hours Trading, and will only be triggered by price updates for such Instruments during Regular Hours Trading.
By participating in Extended Hours Trading, you expressly acknowledge and agree to the unique risks and rules of investing during Extended Hours Trading sessions. Saxo Markets may not be able to predict and describe all of the special trading risks that could arise in Extended Hours Trading. Therefore, you agree not to hold Saxo Markets responsible for any risks you undertake, whether described above or not, by participating in Extended Hours Trading sessions.
In the event of any inconsistency between this Risk Warning and Saxo Markets’ General Business Terms, the General Business Terms shall prevail.
Saxo Markets may notify you or make known on the Trading Platform of Instruments in respect of Extended Hours Trading to which we will not quote, the restrictions on the amount for which we will quote, or other conditions that may apply to our quote, but any such notification will not be binding on us.
You expressly acknowledge and agree that regardless of whether you engage in Extended Hours Trading, the price updates received for Instruments available for and during Extended Hours Trading will affect the initial margin available in your Account(s) and this may affect or reduce your ability to open new position(s) on any Instruments or withdraw funds. Further, you understand that Extended Hours Trading may not be appropriate for every investor and that you are solely responsible for implementing or adopting any investment decision or trading strategy.