Financial Product Service Terms - ASIC - Cf97e796

Financial Product
Service Terms
Gleneagle Asset Management Limited trading as Fusion Markets (Fusion Markets)

ABN: 29 103 162 278
AFSL: 226199
Date: 20 September 2021
Risk Warning: Gleneagle Asset Management Limited (ABN 29 103 162 278) of Level 27/25 Bligh St, Sydney NSW
2000, trading as Fusion Markets, is the issuer of the Fusion Markets Products described in this communication.
Trading in Fusion Markets Products involves the potential for profit as well as the risk of loss which may vastly exceed
the amount of your initial deposit and is not suitable for all investors. You should read all of these Financial Product
Service Terms, the Product Disclosure Statement (PDS) and the Financial Services Guide (available on our website)
carefully, consider your own financial situation, needs and objectives for investing in these Fusion Markets Products
and obtain independent financial advice.
https://fusionmarkets.com/en
Contents
1. Definitions and Interpretation 1
2. This Agreement 5
3. Our Services 6
4. Your representations and warranties 6
5. Use of Personal Information 8
6. Legal Entity Identifier 8
7. Appointment of Authorised Persons 8
8. Formation of a Contract 9
9. Providing instructions 10
10. Method and timing of payment 11
11. Credit Limits 11
12. Authorisation Limits 12
13. Interest Charges on Open Positions 12
14. Margin Cover 12
15. Forced Liquidation 13
16. Division events 13
17. Set off against monies owed 13
18. Delay 14
19. Rates 14
20. Material Error 14
21. Deduction of Intermediary/Receiving Bank Fees 14
22. Circumstances beyond Fusion Markets’ Control 14
23. Fees and charges 14
24. Client monies and trust account 16
25. Payments into your Account 17
26. Rolling over Open Positions 17
27. Dispute Resolution 17
Fusion Markets – Financial Product Service Terms – 29 March 2021

Contents
28. Tape recordings 18
29. Anti-Money Laundering and CounterTerrorism Financing 18
30. Limitation of liability, indemnities & Payments 19
31. Default 21
32. Fusion Markets’ rights to close, void or enforce Contracts 21
33. Termination 21
34. Amending these Terms 21
35. Notices 22
36. Appointment of Fusion Markets as attorney 22
37. General 23
Fusion Markets – Financial Product Service Terms – 29 March 2021

1. Definitions and Interpretation Business Day means a day (other than a

Saturday or Sunday or public holiday) on which
1.1 In these Terms, unless inconsistent with the subject banks and foreign exchange markets are or will
matter or context, the following words and be open for business in Sydney.
expressions shall have the meaning set out below:
Calculation Time means the time that Fusion
Account means an account held in your name or Markets performs the calculation for a Finance
for your benefit with Fusion Markets including all Charge Adjustment or a Finance Credit
Trading Accounts and Contracts recorded in them,
for the purposes of these Terms. Adjustment, the time generally being 5:00 p.m.
New York time (but any specific time will be
Account Currency means the currency that the advisable through the Trading Conditions).
Trading Account is denominated in.
Claim means any or all, actual or potential claim,
Equity means the current value of your Trading action, complaint, suit, cause of action, arbitration,
Account i.e. net worth of funds in the Account, debt due, costs, claim, entitlement, allegation,
which is calculated by Fusion Markets by demand in respect of damages and any other
combining: benefit verdict and judgment whether both at law
or in equity or arising under the provisions of any
a) the balance of the account being the statute, award or determination whether known
deposit / withdrawals and closed trade at the date of these Terms or not.
profit and loss;
Client means the person who is (or persons who
b) the floating (unrealised) profit / loss are) recorded as having an Account.
(positive/negative) of the Open Positions
net of fees, charges and costs. Close Out, Closed Out and Closing Out in
relation to a Contract means discharging or
Applicable Laws means the statutes, satisfying the obligations of the Client and Fusion
regulations and general law of Australia as varied Markets under the Contract and this includes
from time to time. matching up the Contract with a Contract of the
same kind under which the Client has assumed an
Application Form means the application form offsetting opposite position.
by which a person applies to become a Client of
Fusion Markets and to open an Account. It can Contract means any contract between you and
be in electronic form. Fusion Markets as principal to enter into a
derivative contract based on the value of an
ASIC means Australian Securities and Underlying Instrument (such as a currency,
Investments Commission. commodity or an index). Any Contract entered
into between you and Fusion Markets is subject
AUD, Australian Dollars and $ means the to these Terms.
lawful currency of the Commonwealth of Australia.
Contract Fee means the fee or commission from
Authorised Person means the person (if any) time to time specified by Fusion Markets to be the
described as your authorised agent in the amount payable by you to Fusion Markets in
Application Form or another person notified by respect of each Contract.
you to us under clause Error! Reference source not
found. Contract Size means the standard volume per 1
Lot expressed either in ounces or number of
Base Currency means the first currency contracts.
represented in a currency pair in respect of a Spot
FX OTC Contract. Corporations Act means the Corporations Act
2001 (Commonwealth) and regulations made
Base Rate means the amount nominated by under it, as amended from time to time.
Fusion Markets for this term from time to time, as
notified to you (including through the Online Credit Limit means the limit on the total amount
Platform) or posted on its website. of credit that Fusion Markets will provide to you.
1 Fusion Markets – Financial Product Service Terms – 29 March 2021

Default Event means any acts or omissions on d) A breach of any provision, obligation,
the part of: warranty or representation made under
a) the Client; these Terms (including any information
provided to Fusion Markets in connection
b) an Authorised Person; or with these Terms that is or has become
untrue or misleading;
c) the Client or Authorised Person’s employee,
agent or assignee (whether or not known to us, and e) A failure at any time or for any period deemed
whether or not acting in concert with other natural reasonable by Fusion Markets to respond to any
persons or algorithmic tools) Notice or correspondence from Fusion Markets;
which in Fusion Market’s sole discretion, are f) taking advantage of what Fusion Markets
deemed as being: considers to be abnormal trading conditions; or
a) negligence; g) the violation of any law.
b) mistake; Division Event means any event having, or with

the potential to have, a diluting or concentrating
c) wilful misconduct including: effect on the value of, or the effect of changing
the nature of, any underlying instrument not
1) commission churning; based on shares (including but not limited to
digital currency) whether temporary or otherwise.
2) sniping;
Finance Charge means a charge payable in
3) causing or contributing to or benefiting accordance with clause 23. This may be referred
from a Material Error; to as an “interest charge”, “swaps” or “interest
debit” on the Online Platform, the relevant PDS or
4) moving the price of an Underlying elsewhere.
Instrument;
Finance Charge Adjustment and Finance
5) scalping; Credit Adjustment mean the amount charged
or credited (as applicable) to your Account by
6) arbitraging off-market pricing; Fusion Markets for Contracts. This may be
referred to as an “interest charge adjustment”,
7) money laundering; “interest debit adjustment”, “interest credit
adjustment”, “swaps” or any other applicable
8) different accounts being traded by one term on the Online Platform, the relevant PDS or
trader simultaneously; elsewhere.
9) churning; Force Majeure Event means events or causes

including, but not limited to, the following: an act
10) trading patterns such as risking all the of God, unavoidable accident of navigation, war
trading equity in large one-directional trades; (whether declared or not), sabotage, riot,
insurrection, civil commotion, national emergency
11) use of excessive leverage; (whether in fact or law), martial law, fire, flood,
cyclone, earthquake, landslide, explosion, power
12) same electronic identification point with or water shortage, failure of a transmission or
other Clients or communication with other communication network, epidemic, quarantine,
Clients; strike or other labour difficulty or expropriation,
restriction, prohibition, law, regulation, decree or
13) placement of opposing orders so as to other legally enforceable order of a government
abuse guaranteed fill. agency, breakage or accident, change of
International, State or Commonwealth law or
regulation or any damage of Fusion Markets’
machinery or systems, unless occurring as a
result of an act, omission, default or negligence
of the Client or Fusion Markets.

Foreign Exchange means currency including g) the Client seeks or obtains protection
Australian Dollars and foreign currency. from any of their creditors under any
legislation;
Fusion Markets means Gleneagle Asset
Management Limited trading as Fusion Markets h) the Client commits an act of bankruptcy
ABN 29 103 162 278; AFSL 226199. as defined in the Bankruptcy Act 1966
(Cth) as varied from time to time;
Fusion Markets Products means an OTC
Contract issued by Fusion Markets under these i) a bankruptcy petition is presented in
Terms to Clients. respect of the Client or, if the Client is a
member of a partnership, in respect of
Fusion Markets Trust Account means an account one or more of the partners;
(however named or styled) maintained by Fusion
Markets for the purposes of the Corporations Act j) any security interest becomes
to hold client moneys. enforceable against the Client and the
beneficiary of that security interest takes
General Advice is as defined in the Corporations steps to enforce the security or charge;
Act, as varied from time to time. or
Hedge Counterparty means an entity that Fusion k) any other event having substantially the
Markets enters into hedge contracts with same legal effect as the events specified
to manage Fusion Markets’ exposure to Fusion in paragraphs (a) to (j) above.
Markets Products.
Instructions has the meaning given to it in
Initial Margin means the amount which you are clause 8.2.
required to pay to Fusion Markets as Margin for any
Contract which you propose to enter into. Intellectual Property means the trade marks,
designs, patents and copyrights of the parties to
Insolvency Event means any of the following: these Terms.
a) an order, or an application for an order, is made JPY means the lawful currency of Japan.
by or to a court:
Limit Order has the meaning set out in the PDS
1) that a corporate Client be wound up; or
Long Party means the party to a Contract who
2) appointing a liquidator or provisional is treated as having notionally bought the
liquidator for a corporate Client; Underlying Instrument (or, in the case of an index
OTC Contract, a right in respect of payment
b) a liquidator, provisional liquidator or controller is arising from a change in the level of an index).
otherwise appointed to a corporate Client;
Loss means a damage, loss, cost, expense or
c) a resolution is passed to appoint an administrator liability incurred by the person concerned,
to a corporate Client; however it arises and whether it is present or
future, fixed or unascertained, actual or
d) a corporate Client enters into a deed of contingent.
arrangement or propose a reorganisation,
moratorium or other administration involving all or Lot means the unit that represents the volume of
any of the Client’s creditors; a Contract taking into consideration the Contract
Size. It can be represented as a portion of a Lot
e) a corporate Client is dissolved or wound up in any subject to the minimum lot size, for example, 0.1
other way; of a lot being referred to as a mini Lot or (0.01 of
a Lot) being referred to as a micro Lot. For
f) the Client is unable, or states that they are unable, example, 1 Lot in EUR/USD equals 100,000 EUR
to pay their debts as and when they fall due, or being the Base Currency unit and 0.1 Lot is
otherwise states that they are insolvent; therefore 10,000 units of Base Currency.
Margin means the amount of money (or money’s

worth) paid to Fusion Markets and credited to
your Account as Margin.

Margin Level means the Equity to Margin ratio Realised/Unrealised Loss means:
calculated as Equity divided by Margin.
a) (realised loss) – the amount by which the
Margin Closeout Level means the 20% Margin value of an Open Position on Close Out is less
Level that must be maintained before there might than the value of the Open Position when the
be automatic Close Out of all or some of your Open Position was last valued or if the Open
Open Positions. Position has never been valued previously, it
is the value when the position was opened;
Margin Cover means the amount of Margin and
available for margin trading on your Account. It
is calculated by Fusion Markets by subtracting b) (unrealised loss) – the amount by which the
from the Equity the required Margin. value of an Open Position (not on Close Out)
is less than the value of the Open Position
Material Error means a liquidity provider, Hedge when it was last re-valued or if the Open
Counterparty or Fusion Markets error, a software Position has never been valued previously, it
error, a typographical error, an off-market price is the value when the position was opened.
or obvious mistake in a Contract, Underlying
Instrument, quote or indication and includes Realised/Unrealised Profit means:
quoting delays.
a) (realised gain) - the amount by which the
Online Platform is defined in clause 9.1. This value of an Open Position on Close Out is more
may be referred to as an “Electronic Trading than the value of the Open Position when the
Platform” or as the actual name of the electronic Open Position was last valued or if the Open
trading platform in a PDS or on Fusion Markets’ Position has never been valued previously, the
website. value when the position was opened; and
Open Position means, at any time, a Contract b) (unrealised gain) – the amount by which the
which has not been Closed Out, or settled prior to value of an Open Position (not on Close Out)
the time agreed for settlement. is more than the value of the Open Position
when it was last re-valued or if the Open
Order means any order placed by you to enter Position has never been valued previously, the
into a Contract. value when the position was opened.
OTC Contract means an over the counter Registered Office means the registered office
contract to pay or receive the change in value of of Fusion Markets as notified to ASIC.
the Underlying Instrument (e.g. a currency pair,
share index, commodity or cryptocurrency) Related Entity is as defined in the Corporations
depending on whether the price rises or falls. Act.
Personal Advice is as defined in the Representative is as defined in the Corporations

Corporations Act 2001 (Cth) as varied from time Act.
to time.
Security Information means any of your email
Personal Information is as defined in the address, logon code, password or trading
Privacy Act 1988 (Cth) as varied from time to time. password.
Pip Value means the smallest increment by Senior Officer means the Chief Executive Officer,
which a unit of currency, index level or a Managing Director or “officer” as defined in the
commodity contract changes and is quoted Corporations Act 2001 (Cth) of Fusion Markets
depending on the number of decimal places in and/or the Client, and in the case of Fusion
which the currency or index is quoted. For example, Markets, includes an employee, director or
in the case of a Foreign Exchange consultant nominated by Fusion Markets as the
Contract, a USD/JPY Foreign Exchange Contract Complaints Officer.
is quoted with only two decimal places.
Settlement Time means the time by which a
Price means, in relation to a Contract, the price Contract must be settled, as set out in the
or rate quoted by Fusion Markets as finally Confirmation for the Contract or on the Online
determined when an Order is implemented. Platform.

Short Party means the party to a Contract b) officers, directors, employees and agents.
(including an OTC Contract) who is treated as
having a financial outcome similar to having 1.2 The following rules also apply in interpreting this
effectively sold the Underlying Security. document, except if the context makes it clear that
a rule is not intended to apply.
Sophisticated Investor means a person who
would be a Wholesale Client only through the a) Headings used in these Terms are used
application of section 761GA of the Corporations for convenience only, and do not affect
Act. interpretation.
Stop Loss Order has the meaning set out in the b) A reference to legislation (including subordinate
PDS. legislation) is to that legislation as amended, re-
enacted or replaced, and includes any subordinate
Terms means these Financial Product Service legislation issued under it.
Terms.
c) A singular word includes the plural and vice versa.
Trading Account means trading accounts
established under these Terms for trading d) A word which suggests one gender includes the
purposes. Each is part of the same Account you other gender.
have with Fusion Markets.
e) If a word or phrase is defined, any other
Trading Conditions means the operating grammatical form of that word or phrase has a
conditions for trading on the Online Platform from corresponding meaning.
time to time, including any pricing, leverage ratios,
parameters for Orders, details of calculations of f) A reference to time is to local time in Sydney, New
fees, charges and costs or limits to or features of South Wales, unless otherwise specified.
Contracts.
g) Anything permitted to be done by Fusion
Trading Day means any day in which Markets in accordance with these Terms may be
cryptocurrency markets are open done in its absolute discretion, and any opinion or
view required to be formed by Fusion Markets may
Trailing Stop Order has the meaning set out in the be formed in its absolute discretion.
PDS.
h) For the avoidance of doubt, time will continue to
Underlying Instrument means the product which run on days which are not Business Days.
is used as the basis for calculations of prices for
your Fusion Markets Products, such as foreign
currency pairs, indices, metals. 2. This Agreement
Cryptocurrencies or other commodities (or any 2.1 This is a master agreement and sets out the terms
combination of one or more of those). and conditions in respect of any future Contracts
between you and Fusion Markets, relating to either
USD means United States dollar or the lawful or both of the:
currency of the United States of America.
a) provision of General Advice to the Client;
We, us or our means Gleneagle Asset and
Management Limited trading as Fusion Markets
ABN 29 103 162 278 and its successors and b) execution of Contracts relating to foreign
assignees. exchange, commodities, indices and
cryptocurrencies.
Wholesale Client has the same meaning as in
section 761G of the Corporations Act but does not 2.2 These Terms includes the Fusion Markets
include a Sophisticated Investor. Application Form and the PDS that may have been
exchanged and/or executed between the parties.
You means the Client, being the person or persons However, in the event of any inconsistency between
in whose name we open an Account these Terms and other contracts or documents,
(including any Authorised Person), following our exchanged and/or executed between you and
acceptance of an application by that person or Fusion Markets, the PDS shall prevail to the extent
those persons, together with its: of the inconsistency, and with respect to any other
inconsistency, these Terms shall prevail.
a) subsidiaries, affiliates, successors and/or
assigns; and
2.3 In the event of any inconsistency between the 3. Our Services

English language version of each of the documents
described in clause 2.2 above and their translated 3.1 Fusion Markets provides General Advice and
equivalent in any other language, the English execution-only foreign exchange, commodities,
language version shall prevail, to the extent of any cryptocurrency, index and other market derivatives
inconsistency trading services. If Fusion Markets provides
General Advice to you then you acknowledge that
2.4 These Terms will apply to you in respect of your the advice is general only and does not consider
Account from the earlier of: your personal objectives, circumstances or needs.
You must consider your own objectives,
a) the time Fusion Markets accepts your Application circumstances or needs, as well as the relevant PDS
Form in respect of a particular Fusion Markets and FSG, before making a decision to use Fusion
Product or financial service; Market’s services. General Advice is provided
without charge.
b) the time Fusion Markets otherwise agrees to
provide the Fusion Markets Product or financial 3.2 Under no circumstances will Fusion Markets
service to you; or provide Personal Advice to you.
c) the time you first place an Order in respect of a 3.3 If you do not fully understand the risks associated
Fusion Markets Product with Fusion Markets or with Fusion Markets’ services, then you should not
otherwise instruct Fusion Markets to provide the use our services.
financial service to you.
4. Your representations and warranties
2.5 You acknowledge and agree that you have received,
read and understood all documentation provided to 4.1 You warrant that in the case of:
you by us including these Terms and any PDS in
relation to any Fusion Markets Products which you a) an individual or more than one individual, you are
request Fusion Markets to make available to you in of full age and capacity; and
relation to your Account. You authorise Fusion
Markets to open an Account for you. b) a firm or corporation, it is duly constituted and
incorporated and possesses the requisite power to
2.6 You acknowledge that you have received, read and enter into these Terms,
understood our Financial Services Guide (FSG). Our
FSG may change from time to time. A copy of the 4.2 You warrant that all Contracts made and these
current FSG can be obtained on our website or Terms are , and will , constitute legally binding and
directly from us on request. enforceable obligations of you.
2.7 You acknowledge that all dealings in Fusion 4.3 If you enter into these Terms in your capacity as
Markets Products and the performance by us of our trustee of a trust, you make the following
obligations under these Terms are subject to the representations and undertakings:
Applicable Laws.
a) the relevant trust instrument is valid and
2.8 You acknowledge that we will not provide legal, tax, complies with all Applicable Laws which apply to the
financial or accounting advice to you as part of the Client;
services that we provide to you in accordance with
these Terms. b) you are properly appointed as trustee of the
trust;
2.9 You acknowledge that we do not act in a fiduciary
capacity and Fusion Markets does not owe any
c) you have a right of indemnity from the trust
fiduciary obligations to you in respect of its services
assets in respect of these Terms and the Contracts
provided to you in connection with these Terms
contemplated by it;
except as expressly stated in these Terms.
d) you will comply with your duties as trustee of the
trust;
e) you will not do anything which may result in the

loss of your right of indemnity from the trust assets;

if you are replaced or joined as trustee, you will h) the funds used by you are funds that you are
make sure the new trustee becomes bound to entitled to use, and are not derived from illegal
Fusion Markets’ satisfaction by these Terms and sources;
any other agreement relating to a Contract
contemplated by these Terms to which you are i) the information on the Online Platforms will not
expressed to be a party, or by a document which is be used for unlawful or unauthorised purposes.
identical in effect;
j) you will not “deep-link” the Fusion Markets
g) you will not resettle, set aside or distribute any of website, resell or permit access to the Fusion
the assets of the trust without Fusion Markets’ Markets website to others or copy any materials
written consent unless compelled to do so by the appearing on the Fusion Markets website for resale
trust instrument; or for any other purpose without the prior written
consent of Fusion Markets.
h) you will not amend or vary the trust instrument
without Fusion Markets’ written consent; and 4.5 You acknowledge that:
i) if you are not the sole trustee of the trust, it is a
requirement that each and every trustee agrees in a) Fusion Markets will enter into the Contracts
writing to be bound by these Terms and by any contemplated by these Terms in reliance on the
Contracts entered into in connection with these representations and warranties made by you; and
Terms.
b) Fusion Markets does not act in a fiduciary
4.4 You represent and warrant to Fusion Markets that: capacity in relation to you and Fusion Markets does
not owe any fiduciary obligations to you in respect
a) you have read and understood these Terms, the of its services provided in connection with these
PDS and the FSG; Terms;
b) at all times you will be able to make payments and c) Fusion Markets is not required to act in
fulfil all commitments on your part arising under accordance with your instructions if in Fusion
these Terms and under the conditions applicable to Markets’ opinion to do so would or could constitute
dealings between you and Fusion Markets; a breach by it or its agent or Hedge Counterparty of
the Corporations Act or any other Applicable Laws;
c) execution and delivery by you of these Terms, and
performance of all of your obligations contemplated d) Fusion Markets acts as principal in respect of the
under these Terms, does not violate any of the Fusion Markets Products issued by Fusion Markets;
Applicable Laws that are applicable to you;
e) Fusion Markets provides General Advice and
d) all information provided by you to Fusion execution-only services and the final investment
Markets is true in all material respects as at the date decision is always your own; and
of these Terms or, if later, when the information is
provided. You will notify Fusion Markets promptly f) if Fusion Markets provides advice to you then that
of any changes to such information. The information advice is general only and does not consider your
provided by you, your conduct or the conduct of personal objectives, circumstances or needs.
anyone acting on your behalf in relation to the
Contracts contemplated by these Terms, was or is g) a notice issued by an authorised officer or agent
misleading, by omission or otherwise; of Fusion Markets stating the amount of money due
and payable by you will be taken as conclusive
e) You shall make ongoing disclosure to Fusion evidence of notice except only in the case of
Markets of any matters that may affect the Manifest Error;
operation of these Terms or of the ability of the
Client to pay margin calls or to remain solvent; h) Fusion Markets Products traded on the Online
Platform will not be settled by the physical or
f) you will provide to Fusion Markets on request deliverable settlement of the Underlying Security
such information regarding your financial and on their Value Date - depending on the Fusion
business affairs and identity, as Fusion Markets may Markets Product, they are generally rolled or
reasonably require; “swapped” indefinitely until Closed Out (see the
relevant applicable Trading Conditions); and
g) you are not restricted by any ApplicableLaws
from using Fusion Markets’ Online Platforms or it i) an Open Position must remain open for the
services; minimum period of time as determined by Fusion
Markets and cannot be Closed Out by you during
this period.

4.6 All representations, warranties and 5.5 You acknowledge and agree that Fusion Markets
acknowledgments given by you under these Terms may disclose your name and other personal and
are taken to have been made at the time you financial information about you, and any relevant
complete the Application Form and are taken to details of an Authorised Person, to its employees,
have been repeated by you: Representatives, officers, agents, and affiliates, as
well as to a governmental entity or self-regulatory
a) each time you place an Order with us; authority, an internet service provider or any other
third party agent or service provider for any
b) each time you enter into a Contract with us; and purpose related to offering, providing,
administering or maintaining the Fusion Markets
c) each time we do anything or refrain from doing services, or to comply with Applicable Laws.
something under these Terms or as contemplated
by these Terms in connection with your Account or 5.6 The information provided on Fusion Markets’
any Contract. Online Platforms is to be used for the purpose of
your trading with Fusion Markets only, and not for
4.7 If you are comprised of two or more legal persons any other purposes. Using Fusion Markets Online
then a reference to a right or obligation of yours Platforms does not transfer intellectual property
under these Terms or under a Contract confers that rights to you.
right or imposes that obligation, as the case may be,
jointly and severally on those persons. 5.7 In appropriate cases all communications and
information concerning you held by Fusion Markets,
may be disclosed to and reviewed by law
5. Use of Personal Information enforcement agencies and regulatory authorities.
In addition, you agree to comply with all applicable
5.1 Personal Information collected by Fusion Markets is money laundering and counter terrorism financing
treated as confidential and is protected by the laws, including, but not limited to, the requirement
Privacy Act (Cth) 1988. Fusion Markets will only to obtain or provide satisfactory evidence of the
collect Personal Information which is necessary to identity of any person whom you may represent in
perform the services contemplated by these Terms. any Contract entered into with Fusion Markets.
5.2 Fusion Markets will treat your Personal Information
in accordance with its privacy policy, which you may 6. Legal Entity Identifier
obtain by contacting Fusion Markets or on the
Fusion Markets website. 6.1 In order to comply with the ASIC Derivative
Contracts Rules (Reporting), Fusion Markets must
5.3 Fusion Markets will use reasonable precautions to obtain a Legal Entity Identifier (LEI) from all legal
maintain the confidentiality of information Fusion entities that trade with it.
Markets receives from you and material and/or data
you provide, create, input or develop in connection 6.2 If you are a legal entity:
with your use of the Fusion Markets services.
Nonetheless, because such information, material a) you consent to Fusion Markets obtaining a LEI on
and/or data may be provided through the Internet your behalf; and
you hereby acknowledge and agree that Fusion
Markets cannot assure that such information, b) passing on the cost of obtaining a LEI to you by
material and/or data will continue to be charging it to your Account, together with Fusion
confidential. Markets’ reasonable administration costs in
obtaining the LEI.
5.4 You accept the risk of a third party receiving
confidential information concerning you and
specifically release and indemnify Fusion Markets 7. Appointment of Authorised Persons
from any claim arising out of a third party
intercepting, accessing, monitoring or receiving any 7.1 Fusion Markets may accept your authorisation of
communication from you intended to be provided another person (Authorised Person) to give
to Fusion Markets or from Fusion Markets intended instructions, enter into Contracts and place Orders
to be provided to you. on your behalf. You must notify Fusion Markets in
your Application Form or otherwise in writing in a
way permitted by Fusion Markets of any such
authorisation, setting out the full name, telephone
number, fax number, email address and signature
of that person and any other information required
by Fusion Markets to identify the Authorised
Person.

7.2 You shall immediately notify Fusion Markets when: 7.9 You hereby indemnify and agree to hold Fusion
Markets harmless in respect of any loss incurred by
a) any new person becomes an Authorised Person; an Authorised Person or attorney entering into any
or Contract contemplated under these Terms.
b) any existing Authorised Person is no longer 7.10 You will take reasonable steps to ensure that each
entitled to be an Authorised Person. Authorised Person complies in full with these
Terms.
Upon Fusion Markets receiving such a Notice, the
change in Authorised Person will be effective 7.11 Fusion Markets reserves the right at any time to
immediately. However, the Notice shall not affect refuse the appointment or continuation of an
any Contracts already executed. Authorised Person without reason.
7.3 If a new person is appointed as an Authorised

8. Formation of a Contract
Person, the notice given to Fusion Markets must
include the full name, telephone number, fax 8.1 When you, an Authorised Person or an attorney,
number, email address and specimen signature of contact Fusion Markets by either telephone,
that person. Fusion Markets may verify the identity electronically or otherwise via the Internet, Fusion
of the new Authorised Person including by Markets may, but is not obligated to, ask you for or
requesting additional information. clarify the following information where applicable:
7.4 You may appoint an attorney (under a power of
a) your account number;
attorney in the relevant jurisdiction) to give
instructions and place orders on your behalf or
b) further identification details;
otherwise to do anything which you are entitled to
do in connection with or under these Terms. You
c) the Contract type (e.g. foreign currency,
must notify Fusion Markets in writing of any such
commodity, indices or cryptocurrencies);
appointment setting out the attorney’s details. You
must provide Fusion Markets with a written power
d) whether the Contract is to buy or sell;
of attorney. Fusion Markets may accept or reject
this power of attorney in its sole discretion.
e) the number of Contract; and
7.5 If you are a corporation or other legal entity, Fusion
Markets may allow you to authorise a person (who f) for Contract orders, the order type, the order
is by that authorisation an Authorised Person) or an price and the order expiry date.
attorney to do anything which you are entitled to
8.2 Collectively, though not exhaustively, the
do under these Terms, including on conditions
information referred to in clause 8.1 or any portion
determined by Fusion Markets.
thereof, constitutes the “Instructions”.
7.6 Any appointment of an Authorised Person shall
8.3 Fusion Markets will immediately provide you with,
remain in full force and effect as an appointment in
either verbally or via the Internet, prices at which
writing required by these Terms unless and until
the relevant Contract can be purchased or sold.
Notice of cancellation of appointment and/or
These are the “Trade Contract Terms”.
replacement has been delivered to Fusion Markets’
registered office. 8.4 If you, an Authorised Person or an attorney, then
indicate by either telephone or by clicking the
7.7 All Instructions given and accepted by an
relevant button (e.g. an “buy” or “sell” button”) on
Authorised Person will be deemed to be
the Online Platform that they accept the Trade
Instructions authorised by you and shall be binding
Contract Terms (“Acceptance”) then Fusion
upon you.
Markets shall have a discretionary right to create a
7.8 Until you have provided a Notice to Fusion Markets’ Contract within a reasonable time after receiving
to the contrary, Fusion Markets may continue to the Instructions. If Fusion Markets exercises this
assume that all existing Authorised Persons have right, then a Contract is formed between you and
authority to execute legally binding Contracts with Fusion Markets. When a Contract is created the
Fusion Markets. parties shall become bound by the content of the
relevant Trade Contract Terms and these Terms.

8.5 If Fusion Markets declines to exercise the right to 2) Fusion Markets may, at its sole discretion
create a Contract, Fusion Markets shall not be (without or without notice), close out your
obliged to: Open Positions at prices it considers fair and
reasonable at that time, and you agree not to
a) give a reason for declining; or make any claim against Fusion Markets in this
regard.
b) notify you that Fusion Markets has not created a
Contract with you. f) Fusion Markets may change the minimum
specification required to access the Online Platform
8.6 You shall indemnify Fusion Markets for any error and also may make operational changes to and alter
made by you, an Authorised Person or an attorney the services currently available at any time. Fusion
in providing Instructions to Fusion Markets Markets will notify you of such changes by either
placing a message on the Fusion Markets website,
log on page of the Online Platform or by email or
9. Providing instructions SMS.
9.1 If you, an Authorised Person or an attorney use g) You are responsible for obtaining, maintaining
Fusion Markets’ online trading system (Online and ensuring compatibility of your electronic
Platform), you confirm and accept the following: software, devices and equipment. Fusion Markets
will not be responsible for any loss of or damage to
a) you may be able to enter into Contracts at the your data, software, computer, electronic devices,
rates and/or prices quoted on the Online Platform. telecommunications or other equipment caused by
use of the Online Platform, unless such loss or
b) all Contracts must be completed using the damage is directly and solely caused by our
Security Information allocated to you by Fusion negligence or deliberate default.
Markets and valid entry of such Security
Information will constitute an authorisation by you h) You are responsible for ensuring that your
to complete the Contract specified irrespective of electronic devices and equipment are free from
whether the Security Information is entered by an viruses and other malware and Fusion Markets will
Authorised Person or an attorney. not be responsible for any losses incurred by
failure to do this. Fusion Markets shall use
c) You must ensure that the Security Information is reasonable endeavours to keep the Online Platform
kept secure and confidential. You must also ensure free from viruses and corrupt files but cannot
that each Authorised Person or attorney to whom guarantee that the Online Platform will be free from
Security Information is provided, will keep them infection by viruses or anything else with
secure and confidential. You will advise Fusion contaminating or destructive properties. Fusion
Markets immediately if you have any reason to Markets is not able to guarantee that access to the
believe that the Security Information allocated to Online Platform will be uninterrupted, continuous
you, an Authorised Person or an attorney has not or error free.
been kept secure and confidential.
i) You must not:
d) you must ensure that no unauthorised person is
able to use the Security Information. As part of this 1) misuse the Online Platform by knowingly
obligation you must ensure that each Authorised introducing viruses, trojans, worms, logic
Person and attorney quits the internet browser bombs or other material which is malicious or
after using the Online Platform. technologically harmful;
e) Fusion Markets may taking steps it considers 2) attempt to gain unauthorised access to the
reasonable at any time without Notice suspend, Online Platform or any server, computer or
withdraw or deny access to the Online Platform for database connected the Online Platform;
any reason including but not limited to security,
quality of service, failure by you to pay an amount 3) attack the Online Platform via a denial-of-
when due or breach by you of any provision of these service attack or a distributed denial-of-
Terms. If and while such access is suspended: service attack.
1) you will be able to close any Open By breaching this provision, you may also commit a
Positions but will not be entitled to enter into criminal offence. Fusion Markets may report any
new Contracts such breach to the relevant law enforcement
authorities and will co-operate with those
authorities by disclosing your identity to them.

In the event of such a breach, your right to use the 10.2 Any sums that you owe to Fusion Markets must be
Online Platform will cease immediately and without paid in one of the following ways:
Notice. Fusion Markets will not be liable for any loss
or damage caused by a distributed denial-ofservice a) by online bank transfer;
attack, virus or other technologically harmful
material that may infect your electronic devices and b) by same day bank transfer;
equipment.
c) by cheque (with the consent of Fusion Markets);
j) You will be liable for all Contracts made when
using the Online Platform including instances of any d) by international telegraphic transfer; or
misuse, fraud or abuse by you, an Authorised
Person or an attorney or where the Client, an e) by payment through a credit card or electronic
Authorised Person or an attorney has disclosed any gateway provider approved by Fusion Markets from
Security Information to a third party. time to time.
9.2 Fusion Markets will not typically accept 10.3 You must have sufficient cleared funds deposited in
Instructions face to face at Fusion Markets’ Fusion Markets Trust Account before Fusion
Registered Office. However, Fusion Markets may at Markets will execute any Contracts. Fusion Markets
its discretion allow an Authorised Person or will indicate to you the sum required as the Initial
attorney to request Fusion Markets to accept Margin for each Contract.
Instructions, enter into Contracts and make
financial dealings by physically visiting Fusion 10.4 Fusion Markets may not have time to notify you of
Markets’ Registered Office. You acknowledge and any change in the amount of the Initial Margin or
agree that upon the acceptance by Fusion Markets further margin for any Contract by giving Notice.
of the Authorised Person or attorney’s Instructions, Any increase in the amount of the Initial Margin will
you shall be bound by those Instructions. be due and payable immediately without Notice to
you.
9.3 An Authorised Person or attorney may request
Fusion Markets to accept Instructions and enter 10.5 Fusion Markets may impose other fees and charges
into Contracts by telephone. Fusion Markets may for using its services, by providing Notice to you. If
check the authority of the caller by requesting the you do not consent to the charges, you can
caller give his or her name and confirming that such terminate these Terms and the charges will not
name has been notified to Fusion Markets by you as apply to new Contracts. If you terminate these
an Authorised Person. Fusion Markets may at its Terms under this clause, all existing Contracts will
discretion ask the caller for additional information survive the termination of these Terms.
to confirm the caller’s identity. Upon such check
confirming the identity of the caller, Fusion Markets 10.6 Fusion Markets is not responsible for any fees or
may assume that the caller has the full authority as charges imposed by third party banks or other
previously advised by you. counterparties, which are incurred by you in
connection with the use of Fusion Markets services.
9.4 You acknowledge and agree, and will ensure that
each Authorised Person and attorney
11. Credit Limits
acknowledges and agrees, that Fusion Markets may
make a recording of any telephone conversation 11.1 You understand that:
between any person and Fusion Markets at any
time. The recording remains the property of Fusion a) Fusion Markets may grant certain Clients a
Markets. The telephone recording can be used by Credit Limit. A Credit Limit is:
Fusion Markets to confirm the terms and conditions
of any Contract where there is dispute with a Client 1) a pre-agreed amount of currency that can
as to the Trade Contract Terms of the Contract, and be offset against a negative mark to market
for training, monitoring and compliance purposes. value on an Open Position; or
10. Method and timing of payment 2) an amount applicable to unsettled trading

losses to some or all Contracts (either
10.1 You must not deposit physical cash into Fusion individually or in aggregate or both); and/or
Markets’ accounts under any circumstances. Fusion
Markets has an absolute discretion as to whether 3) an amount that reflects the amount paid by
you may pay by cheque. you to a Fusion Markets approved third party
merchant, which has not yet been received by
Fusion Markets.

(b) if the negative mark to market of an Open (b) For selling of one currency against the purchase
Position is approaching or has exceeded your Credit of another currency and the currency sold has a
Limit, Fusion Markets reserves the right to Margin higher interest rate than the currency bought, the
call you in an amount entirely at Fusion Markets’ amount of interest arising therefrom shall be
discretion; subtracted from the Account.
c) Fusion Markets is not obliged to provide credit to c) For commodities contracts and cryptocurrency
you; and contracts, any interest entitlement or liability
arising from buying or selling the commodities shall
d) any Credit Limit set by Fusion Markets may be be respectively added to, or subtracted from, the
reduced or withdrawn at any time by giving Notice Account.
to you.
d) In the case of a negative interest rate, interest
11.2 You acknowledge that if Fusion Markets acts on an arising therefrom shall be subtracted from the
Instruction which would result in a Credit Limit Account.
being exceeded:
e) In all cases, interest shall be at the annual rate to
a) Fusion Markets is not obliged to advise you that be determined by Fusion Markets from time to time
the Credit Limit will be exceeded; without Notice.
b) you will continue to be liable to Fusion Markets

for all amounts including those above the Credit 14. Margin Cover
Limit; and
14.1 You agree and acknowledge with each of the
c) Fusion Markets is not obliged to act upon any following:
subsequent Instruction where a Credit Limit might
be exceeded. a) Margin Cover refers to the amount paid or
payable to Fusion Markets as it requires (to protect
against your realised or unrealised liabilities on
12. Authorisation Limits Contracts) and which is credited to your Account.
The minimum amount of the Margin Cover is
12.1 You may inform Fusion Markets of an authorisation determined by Fusion Markets in its absolute
limit applicable to some or all Contracts either in discretion.
general or for particular Authorised Persons or
attorneys. b) A Margin payment is the amount you pay Fusion
Markets for crediting your Account as Margin
12.2 Any authorisation limit provided by you to Fusion Cover.
Markets may be withdrawn by you at any time by
giving Notice to Fusion Markets. c) The time for your payment to maintain Margin
Cover is of the essence.
12.3 Fusion Markets may, at its own discretion, impose
an authorisation limit on the Client and/or one or
d) You must maintain at least the amount of Margin
more Authorised Persons or attorneys at any time,
Cover required by Fusion Markets whether or not
by providing Notice before the imposition of the
Fusion Markets gives any Notice to you to make
limit.
those payments or you have actual Notice of the
required amount. The required amount of Margin
13. Interest Charges on Open Positions Cover can change continuously and can change
automatically, including over the week-end or other
13.1 For any Open Position held by you, Fusion Markets non-trading days. Your obligation to maintain at
will from time to time add an amount to the Account least the required amount of Margin Cover is
for interest earned, or subtract an amount from the continuous.
Account for interest incurred from the Value Date
until the position is liquidated, in the following e) You must ensure that for so long that you have an
manner: Open Position, the Margin Cover must always
remain positive. If not, your Open Position may be
a) For buying of one currency against the sale of Closed Out by Fusion Markets without prior notice
another currency and the currency bought has a to you.
higher interest rate than the currency sold, the
amount of interest arising therefrom shall be added
to the Account.

f) Your obligation to maintain Margin Cover arises 16. Division events

at the time the Contract is executed.
16.1 If a Division Event occurs in relation to any
g) It is solely your responsibility to monitor and to Underlying Instrument and/or its issuer or
satisfy all Margin Cover requirements. technology environment (for example, Distributed
Ledger Technology), Fusion Markets may, acting in
h) A Margin payment is credited by Fusion Markets a commercially fair and reasonable manner, make
at the time cleared funds have been received into adjustments to your Open Positions, Stop Loss
the Fusion Markets Trust Account and Fusion Orders, Limit Orders and Trailing Stop Loss Orders.
Markets has applied the payment to your Account
or such other time as allowed by Fusion Markets. 16.2 The adjustments Fusion Markets may make will be
This means a Margin Cover requirement for a determined reasonably and will be binding on you.
Contract is not satisfied unless and until your Such adjustments may include, but are not limited
payment is received in cleared funds into the Fusion to one or more of the following:
Markets Trust Account and applied to your Account
by Fusion Markets. a) changing the amount of any Initial Margin in
relation to Open Positions and new Contracts;
15. Forced Liquidation b) adjusting the opening price of an Open Position,

to reflect the impact of the relevant action or event;
15.1 You required to maintain sufficient level of Margin
Cover. Fusion Markets reserves its full rights to c) opening one or more new positions;
close out all Open Positions:
d) closing one or more Open Positions;
a) when the Stop Loss Order is reached; or
e) cancelling any Stop Loss Orders, Limit Orders and
b) your Margin Level falls below the Margin Trailing Stop Loss Orders;
Closeout Level; or
f) suspending or modifying the application of any
c) you fail to maintain the required Margin Cover; or part of these Terms;
d) if at any time the pre-agreed Credit Limit g) crediting or debiting sums to the Account as
assigned to you by Fusion Markets is no longer appropriate; and
sufficient to cover the negative mark to market
value of any or all Open Positions that you have h) taking any and all such other action, as Fusion
open with Fusion Markets. Markets considers reasonably necessary.
e) at any time, and from time to time, Fusion

Markets determines that the value of all of your 17. Set off against monies owed
Open Positions (and not taking into account any
cash balance in your Account) represents a 17.1 In addition to other remedies available to Fusion
substantial net unrealised loss to you such that, in Markets, if you fail to pay any amount when due
Fusion Markets’ belief, the continued trading, or under these Terms and/or if a Default Event occurs,
failure to Close Out, one or more of your Open Fusion Markets may set-off such amount against
Positions will or is likely to materially prejudice your any amount payable by Fusion Markets to you.
Equity
17.2 Fusion Markets is entitled to set-off against any
15.2 Fusion Markets shall have the right, at its sole amounts due to it by you, any amounts received by
discretion, to determine the mark to market value Fusion Markets from or on behalf of you including
from time to time. but not limited to moneys received as Initial Margin
or Margin calls. Fusion Markets may determine the
15.3 In addition to other remedies available to Fusion application of any amounts which are to be set-off
Markets, if you fail to pay an amount when due at its own discretion
under these Terms, Fusion Markets has the right to
terminate (by either buying or selling) any or all of 17.3 You must not set-off against any amounts you owe
your Open Positions. to Fusion Markets, any amounts Fusion Markets
owes to you.

18. Delay 22. Circumstances beyond Fusion Markets’

Control
18.1 Fusion Markets will use all reasonable efforts to
process your Contract order on a timely basis. 22.1 If Fusion Markets is unable to perform its
However, Fusion Markets shall not, in the absence obligations under these Terms or a Contract
of wilful misconduct, be liable for delays, damages, because of factors beyond its control or because of
failures or errors in the completion of the Contract a Force Majeure Event, Fusion Markets will notify
order. you as soon as is reasonably practicable and will use
reasonable endeavours to secure the return of any
money paid by you in respect of which Fusion
19. Delay Markets has been unable to discharge its
obligations under these Terms.
19.1 Rate indications from Fusion Markets are available
via the Online Platform (the “Indication”). The 22.2 In the case of a Force Majeure Event, Fusion
Indication is not binding, and you agree to accept Markets may also take any other steps it considers
the prices offered by Fusion Markets when the reasonably necessary, including but not limited to
Contract is executed altering the Initial Margin, closing any or all Open
Positions, amending or varying this Agreement
20. Material Error and/or any Contract insofar as it is impractical or
impossible for Fusion Markets to comply with its
20.1 Fusion Markets will take reasonable steps to obligations to you.
prevent Material Errors from occurring.
22.3 Fusion Markets may give a notice (“a Disturbance
20.2 Should a Material Error occur Fusion Markets: Notice”) to you at any time if it forms the view that
market conditions in the relevant market for the
a) reserves the right to make the necessary Underlying Instrument are seriously disturbed. This
adjustments to correct the Material Error; and includes circumstances where, in Fusion Markets'
opinion, the Underlying Instrument is not available
b) is not liable for any damages, claims, losses, (for example, deposits in the currency concerned
liabilities or costs arising from the Material Error. are not available) in the ordinary course of business
to Fusion Markets in the relevant market or
20.3 Any dispute arising from a Material Error will be because of national or international financial,
resolved on the basis of the fair market value (plus political or economic circumstances, or because of
Fusion Markets’ typical spread), as determined by exchange controls.
Fusion Markets acting reasonably, of the relevant
Contract(s)at the time such Material Error 22.4 When a Disturbance Notice is given under clause
occurred. 22.3, Fusion Markets’ obligations will be suspended
while it and you negotiate alternative
arrangements. If both parties reach agreement
21. Deduction of Intermediary/Receiving Bank before the Value Date, those alternative
Fees arrangements will apply. If they do not reach
agreement within that period, each will be released
21.1 In some circumstances a number of intermediaries from its obligations under the relevant Contract.
may be involved in a payment Contract and may
deduct a charge. The receiving bank may also take
a charge. These charges cannot always be 23. Fees and charges
calculated in advance, and you will be liable for
these expenses. 23.1 Any profit or loss net of any fees and charges (that
is, the realised gain or loss) arising on Closing Out
21.2 Fusion Markets will not be liable for losses that a Contract will be credited or debited (as the case
result from fees under clause 21.1 being levied. may be) against the Equity, in the Account currency.
Fusion Markets will use its best endeavours to
ensure that all fees associated with a Contract are 23.2 You owe us, and must pay to us or as we direct (in
disclosed in the Trade Contract Terms. However, accordance with these Terms):
due to the complexity of the international foreign
exchange markets this may not always be possible. a) any Contract charges including all Contract
If it is important that an exact amount of a particular commission, charges, fees, Margins, settlement and
currency arrives, you agree to advise Fusion clearing fees and charges, interest, default charges
Markets accordingly and Fusion Markets may be and Taxes (including GST but excluding Fusion
able to pre-cover any undefined charges Markets’ income tax or penalty tax and levies) and

any other amounts due under these Terms on 23.4 Any amount or rate or formula which is to be
demand by Fusion Markets in cleared funds or specified by Fusion Markets may be specified by a
otherwise as required by these Terms; PDS, FSG, a supplementary disclosure document or
in any other permitted way of notifying you, such
b) a Contract Fee for each Fusion Markets Product as on Fusion Markets’ website or the Online
or Contract (as the case may be) being the fee from Platform. The amount of any fees and charges or
time to time specified by Fusion Markets to be the other amounts payable by you to Fusion Markets in
amount payable by you to Fusion Markets in respect of any Contract will be set out on the Online
respect of each such Contract; Platform to the extent known at the time.
c) any royalty or other fee which must be paid for 23.5 GST-inclusive. The amounts of or basis of
the use of prices or information provided to you via calculating the fees, commissions, charges and
access through the Online Platform or otherwise by credits referred to in this clause 23 will be as
any Exchange; notified from time to time in writing by Fusion
Markets, either by way of a PDS, posting on the
d) (if applicable) a monthly access charge for the use Online Platform (including by way of Contract
of the Online Platform provided by Fusion Markets, prices), notification to your contact address, posting
as specified by Fusion Markets from time to time; to Fusion Markets’ website or as otherwise agreed
with you or permitted by these Terms.
e) the Finance Charge calculated as disclosed in the
PDS, FSG, a supplementary disclosure document or 23.6 If:
in any other permitted way of notifying you, such as
on Fusion Markets’ website or the Online Platform, a) you are required to make a deduction or
in the amount of the Finance Charge Adjustments withholding in respect of Tax from any payment to
from time to time; be made; or
f) Finance Charge Adjustments applicable to any b) Fusion Markets is required to pay any Tax (other
Contract or Account; than income tax) in respect of any payment made in
relation to these Terms at your request, then you:
g) any fees, Taxes, stamp duty or other charges as
may from time to time be levied on or in connection c) indemnify Fusion Markets against the Tax; and
with any Contracts entered into with you; and
d) agree to pay to Fusion Markets an additional
h) in respect of any unpaid amounts required to be amount to ensure Fusion Markets receives a net
paid under these Terms including, (without amount (after payment of any Tax in respect of each
limitation) any amounts due as a result of your additional amount) that is equal to the full amount
failure to pay interest on all such amounts Fusion Markets would have received had a
denominated in Australian dollars at the Base Rate deduction or withholding or payment of Tax not
then generally applicable for debit amounts on been made.
Accounts plus a rate of interest per annum as
23.7 You must reimburse Fusion Markets for all fees
reasonably determined by Fusion Markets (but so
(both direct and indirect) and expenses charged in
that the total rate does not exceed generally
connection with any Contract (other than Tax on
prevailing rates for personal unsecured loans in
the income of Fusion Markets) and for all costs and
comparable amounts), such interest to accrue daily
expenses incurred by Fusion Markets in
from and including the due date to and including the
implementing these Terms and in enforcing its
date of its payment in full.
rights under these Terms (including its legal costs
of external or internal legal advisers on a full
Guidance note: this is the rate of interest you pay if you
indemnity basis).
default on making any payment to Fusion Markets. It is
not the rate for any Finance Charge Adjustment 23.8 Open Positions will be charged a Finance Charge
Adjustment or will be entitled to receive a Finance
23.3 We owe you and must pay you (in accordance with
Credit Adjustment, depending on the Contract
these Terms) Finance Credit Adjustments
chosen by you. These accrue (and so are calculated)
applicable to any Contract or Account from time to
on a second-by-second basis as determined by
time, calculated as disclosed in the PDS, FSG, a
Fusion Markets (unless otherwise notified by you).
supplementary disclosure document or in any other
The accrued charges or credits will be applied to an
permitted way of notifying you, such as on Fusion
Account at any time chosen by Fusion Markets.
Markets’ website or the Online Platform.
This will usually be at the Calculation Time and at
the end of Contract, but it may also be (without
limitation):

a) either immediately at the time of entering 23.10 You acknowledge that you are responsible for your
into the Contract; own legal costs associated with or arising from (at
any time) entering into these Terms and for all
b) at day’s end, or month’s end; Taxes and expenses incurred by you in connection
with these Terms, including any Contract made
c) at a rollover of the Contract; or under it.
d) at any other time after entering into the

Contract. 24. Client monies and trust account
24.1 You agree that Fusion Markets may aggregate

e) The Online Platform will display whichever of a
money paid into the Account (“the Monies”) with
Finance Charge Adjustment or Finance Credit
funds received from other Clients into a single
Adjustment applies.
designated account, which will be maintained as
23.9 You remain liable to pay the Finance Charge required by law.
Adjustment even though:
24.2 You consent to and direct Fusion Markets to:
a) the charge may be called other things from time
a) retain any interest accrued from time to time on
to time, even across different Accounts, different
the Monies, and to invest that money as permitted
Fusion Markets Products or on the Online Platform
by the Applicable Law;
at the same time;
b) withdraw Monies that constitute remuneration
b) the charge is not stated on a statement for an
payable to Fusion Markets; and
Account;
c) withdraw Monies that it is otherwise entitled to
c) the charges differ according to how the Contract
pursuant to the Applicable Law.
was made;
24.3 If you are a Wholesale Client, you authorise and
d) the charges differ according to the amount of the direct Fusion Markets to withdraw, apply or
Account, regardless of the amount or value of the otherwise utilise the Monies:
Account;
a) in order to meet obligations (the Obligations)
e) the rate is expressed or inferred to be an annual incurred by Fusion Markets in connection with
rate but is applied and calculated by the second or Contracts. Obligations may include an obligation to
any other time interval proportional to the annual make payments to a Related Entity and/or a
rate; liquidity provider in connection with liabilities
Fusion Markets incurs when the Client and other
f) the Finance Charge Adjustment is first applied by clients place Contracts with Fusion Markets.
way of posting the amount to the Account so that Liabilities in this sub-clause include but are not
you become liable only for any net debit amount of limited to minimum floating margin requirements
the Account (or we owe you the net credit amount imposed by a Related Entity or liquidity provider, or
of the Account); other hedging requirements;
g) we may owe from time to time Finance Credit b) in order to enforce other rights that Fusion
Adjustments (which are posted to the Account); Markets has under these Terms or in the PDS; and
h) different rates apply at the same time to other c) for any other reason allowed by law.
clients’ accounts;
24.4 You agree that when Fusion Markets uses the
i) the charge is applied at rollover but is not levied or Monies for a lawful purpose as set out in this clause
enforced until termination of the Contract; 24, the Monies do not belong to you and do not
constitute a loan or constructive trust in your
j) the Contract is denominated in a currency other favour.
than Account Currency;and
24.5 If you have an open Contract, and Fusion Markets
k) the rates will be as determined by Fusion Markets is entitled to make a deduction for any reason as
in its absolute discretion and you might not have set out in these Terms or the PDS, that deduction
prior notice of the current rate. may occur immediately, and the Monies will
become Fusion Markets monies. Conversely, if you

have an open Contract and Fusion Markets is e) whether any of those persons hold any part of
required to apply a credit to the client’ monies for these funds on any nominee, segregated account,
any reason as set out in these Terms or the PDS, trust or any other basis for your protection or
that credit will typically be applied to your Monies security.
as after completing Fusion Markets’ end of day
reconciliations. 25.5 If Fusion Markets determines that your Account has
been inactive for a reasonably long period, you
authorise Fusion Markets to withdraw any
25. Payments into your Account Withdrawal Funds from the Client Moneys Trust
Account to be paid into your nominated bank
25.1 You must ensure that: account.
a) payments into the Account are from you as the 25.6 You acknowledge that from the time any funds
holder of the Account and not from any third party; withdrawn from the Client Moneys Trust Account
in connection with your Contracts:
b) without limiting the above, payments from an
account are payments from your account and not a) lose the protections given to a Client Moneys
from any account of any third party. Trust Account of that kind;
25.2 You agree and acknowledge that Fusion Markets b) you are an unsecured creditor of Fusion Markets
may refuse to accept or return any payment of for its obligations on your Contracts; this includes
money from any third party or from any account of exposure as an unsecured creditor for payment to
any third party, and that Fusion Markets does not you of the net Account balance (if any) after closing
accept any liability or responsibility for any loss, all your Open Positions;
cost or expense incurred or suffered by you in
connection with such non-acceptance or return, (c) the funds are no longer held beneficially for you.
including because the Client is subsequently in
default of their obligations to Fusion Markets.
26. Rolling over Open Positions
25.3 The moneys to which you are entitled under these
Terms and which are under the control of Fusion 26.1 In respect of each Open Position, subject to:
Markets will be paid directly to you and not to any
third party, unless you have otherwise instructed us a) prior Close Out of that Open Position;
to do so and we agree. You must provide relevant
account details for payment instructions in respect b) any express terms of the Contract; or
of payments to be made by Fusion Markets to you.
Although Fusion Markets will take reasonable steps c) the express agreement of Fusion Markets to
to comply with your payment instructions, Fusion settle that Open Position, Fusion Markets is by
Markets accepts no responsibility for any failure to these Terms instructed:
comply with those instructions and, if such failure
occurs, the relevant moneys will continue to be held d) to vary the Open Position (in which case it will be
by Fusion Markets in accordance with the deemed to be a new Contract) so that its settlement
Corporations Act and Applicable Laws. date is deferred to a Trading Day to be agreed
between Fusion Markets and you (and if there is no
25.4 If Fusion Markets pays your funds to another agreement by the Calculation Time on the Trading
person at your request, Fusion Markets is not liable Day immediately prior to the then applicable
to you for the performance by the other person who settlement date as agreed previously, it will be the
receives the benefit of the payment of your funds. following Trading Day); and
In particular, without limitation, Fusion Markets is
not obliged to enquire into: e) to Close Out the Open Position and enter into a
new Contract for the same Underlying Security and
a) the use of those funds by the third party; being the same bought or sold position except that
the settlement date is to be one Trading Day later
b) any persons to whom the third party pays all or and adjusted for any interest differential.
any of these funds;
c) the solvency of any of those persons; 27. Dispute Resolution
d) the compliance by any of those persons with the 27.1 Except to the extent that this clause is inconsistent
Corporations Act, Applicable Laws and Rules; with the requirements of any legislative or

regulatory regime, the dispute resolution process 28.2 Recordings may be used to assess the performance
set out in this clause shall apply. The parties must of or to train Fusion Markets’ representatives,
use all their reasonable endeavours to resolve any monitoring compliance with Fusion Markets’
dispute arising in connection with these Terms or respective regulatory and contractual obligations
any Contracts thereunder. and resolving disputes.
27.2 If the parties fail to resolve a dispute within 5 Days 28.3 Fusion Markets is not obliged (unless Applicable
of one party giving Notice to the other of the Laws requires) to keep any transcripts or copies of
dispute, either party may, by giving Notice to the any telephone recording or conversation nor to tell
other, refer the dispute to the parties' Senior you when it disposes of the record.
Officers (where you are an individual no such
referral is applicable) who, each party must ensure, 28.4 Subject to clause 28.3, Fusion Markets may upon
must co-operate in good faith to resolve the dispute request, provide copies of any telephone recording
as amicably as possible within 10 Days of the or transcript relating to your dealings to you in if
dispute being referred to them. there is a dispute or anticipated dispute with
respect to such dealings. You agree to pay any
27.3 If the Senior Officers (or individual and the Fusion reasonable cost associated with providing any such
Markets Senior Officer) fail to resolve the dispute transcript or copy.
within 45 Days of the dispute being referred to
them, the parties must, at the written request of
either party and within 10 Days of receipt of the 29. Anti-Money Laundering and Counter-Terrorism
request, refer the dispute to mediation in Financing
accordance with, and subject to, the Institute of
29.1 You acknowledge that:
Arbitrators and Mediators Australia Rules for the
Mediation of Commercial Disputes. The costs of the
a) Fusion Markets is subject to various antimoney
mediator shall be met equally by the parties. If the
laundering and counter-terrorism financing laws
dispute or difference is not settled within 30 Days
(AML/CTF Laws) which may prohibit us from
of the submission to mediation (unless such period
offering services or entering into or conducting
is extended by Agreement of the parties), it shall be
Contracts; and
submitted to arbitration in accordance with, and
subject to, the Institute of Arbitrators Australia
b) the AML/CTF Laws include prohibitions against
Rules for the Conduct of Commercial Arbitrations.
any person dealing with the proceeds of or assets
27.4 This clause, however, does not limit your rights (if used in criminal activity (wherever committed) and
applicable) to take any dispute to an external from dealing with any funds or assets of, or the
dispute resolution scheme of which Fusion Markets provision of finance to, any person or entity
is a member. involved (or suspected of involvement) in terrorism
or any terrorist act.
28. Tape recordings 29.2 You agree that:

(a) Fusion Markets is not required to take any action
28.1 You authorise Fusion Markets to record any or all or perform any obligation under or in connection
incoming and outgoing phone calls with you without with these Terms if we are not satisfied as to your
making a disclosure to you of this nature each and identity or if we suspect on reasonable grounds
every time you speak with a representative of that by doing so we may breach the AML/CTF Laws;
Fusion Markets. These calls may be recorded with
or without an audible tone. You agree that Fusion b) Fusion Markets may delay, block or refuse to
Markets may use such recordings for the purposes make any payment or to provide any service if we
of monitoring and training its staff, monitoring believe on reasonable grounds that to do so may
compliance with you and Fusion Markets' breach any law in Australia or any other country,
respective regulatory and contractual obligations and we will incur no liability to you if we do so; and
and resolving disputes. If there is a dispute between
Fusion Markets and you, you have the right to listen c) Fusion Markets will not incur any liability to you
to any recording of those conversations (if still for any loss you suffer (including consequential loss)
available). Nothing in these Terms obliges Fusion however caused by reason of any action taken or
Markets to keep a recording or to notify you that not taken by us as contemplated in paragraph (a) or
we have eliminated a recording. (b) above.

29.3 You agree to provide all information and documents 30.5 Fusion Markets will use all reasonable endeavours
to Fusion Markets which we reasonably require to to execute Contracts or make payments to you or
comply with any law in Australia or any other to any third party specified by you, in accordance
country, including any AML/CTF Laws. You agree with the timing specified in your Instructions.
that Fusion Markets may disclose information However, Fusion Markets shall not be liable under
which you provide to us, or about Contracts you any circumstances for any direct, indirect or
have with us or which you seek to conduct with us, if consequential loss (including any loss of profits)
we are required to do so by any law or Rule in incurred as a result of a delay in funds reaching
Australia or in any other country. your nominated account.
29.4 You represent and warrant to Fusion Markets that 30.6 Nothing in the Terms is intended to limit or exclude
the payment of moneys by us in accordance with any liability Fusion Markets may owe you under any
this document, or any instructions given by you, will statutory rights you may have.
not breach any law in Australia or any other
country. 30.7 Subject to those provisions of the Competition and
Consumer Act 2010 (Commonwealth), the
Australian Securities and Investments Commission
30. Limitation of liability, indemnities & Payments Act 2001 (Commonwealth), the Corporations Act,
any other legislation and any other rights, duties or
30.1 You shall indemnify and hold Fusion Markets other obligations imposed or implied by law which
harmless from any and all liabilities, claims, costs, cannot be excluded by agreement between the
expenses and damages of any nature, including, parties, to the extent each of the following is not
but not limited to, reasonable legal fees and any prohibited by those laws:
fees and expenses incurred in connection with
litigation, arising out of or relating to your, an a) we make no warranties either expressly or
Authorised Person’s or attorney’s negligence, impliedly as to merchantability, fitness for a
mistake or wilful misconduct, the violation of any particular purpose, or otherwise (including as to
law by you, or the breach by you of any provision accuracy, currency, availability, completeness or
of these Terms or if a Default Event occurs. quality),with respect to any services we provide
under these Terms including, without limitation, the
30.2 You also agree to promptly pay Fusion Markets for
Online Platform;
all damages, costs and expenses, including
reasonable legal fees and expenses, incurred by
b) Fusion Markets excludes all liability in contract,
Fusion Markets in the enforcement of any of the
tort or otherwise relating to or resulting from use of
provisions of this Agreement. Your obligations
any services we provide under these Terms and for
under this Clause shall survive the termination of
any Loss incurred by you directly or indirectly,
this Agreement.
including without limitation as a result of or arising
30.3 In calculating or mitigating its loss due to a Default out of:
Event or Material Error, Fusion Markets is entitled
to: 1) any inaccuracy, error or delay in or omission from
any information provided to you under these Terms
a) crystalise, unwind, reverse, repair or close any including the Online Platform;
Open Positions by closing any open Contracts; and/
or 2) any delays or failures or inaccuracies, or loss of
access to, the provision of a service to
b) nominate the date on which the open Contracts you including, without limitation, any delay, failure
are valued; and/or or inaccuracy in, or the loss of access to, the Online
Platform or in respect of the transmission of Orders
c) nominate the methodology used to calculate the or any other information;
open Contracts’ value; and/or
3) any misinterpretation of your Orders or
d) take any other action that Fusion Markets instructions which are unclear, ambiguous, or not
determines to be reasonably necessary to protect specific;
its legitimate interests.
4) any government restriction, Exchange or market
30.4 You acknowledge you will be liable for any losses rulings, suspension of trading, computer or
which may be realised as the result of entering into telephone failure, unlawful access to our Online
a Contract, regardless of the trading resources Platform, theft, sabotage, war, earthquakes, strike,
available in relation to the Account at the time the force majeure and, without limitation, any other
Contract is executed. conditions beyond our control;

c) Fusion Markets is not liable in contract, tort k) except only to the extent attributable to the
(including negligence) or otherwise for any loss of breach of these Terms by Fusion Markets or the
prospective profits or expenses or special, indirect gross negligence or fraud by Fusion Markets.
or consequential damages resulting from the supply
of a service including, without limitation the Online 30.9 If GST is payable on a taxable supply made by
Platform; Fusion Markets under, by reference to, or in
connection with these Terms, you must also pay the
30.8 To the fullest extent permitted by law, you release, amount of GST payable in respect of that taxable
discharge and indemnify and agree to keep Fusion supply. This clause does not apply to the extent
Markets and its respective officers, employees, that consideration for a supply is expressly stated
agents and representatives indemnified from and to you to be GST inclusive. Terms which have a
against all claims arising out of: defined meaning in the A New Tax System (Goods
and Services Tax) Act 1999 have that meaning in
a) any default, whether by your act or omission these Terms.
under these Terms or any Order or Contract;
30.10 You acknowledge that you are responsible for your
b) any breach by you of any Applicable Laws; own legal costs associated with entering into these
Terms and for all Taxes and expenses incurred by
c) any representation or warranty made or given by you in connection with these Terms, including any
you under these Terms proving to be untrue or Contract made under it.
incorrect;
30.11 All payments by you under these Terms are:
d) any error, omission, fraud, malfeasance,
negligence, misappropriation or criminal act or a) to be made without any set-off by you, counter
omission by you or by any of your clients, claim or condition made by you and without you
employees, agents or Authorised Persons, making any deduction or withholding for any Tax or
consultants or servants; any other reason unless the deduction or
withholding is required by applicable law or the set-
e) any failure of any of your computer or electronic off arises by express application of the Terms; and
systems or networks to perform, be available or
successfully transmit data to Fusion Markets, or any b) payable in any currency that Fusion Markets may
error or inadequacy in the data or information input require or determine
into such systems or networks by you;
If:
f) any delays in processing any Order including, for
example (but not limited to), as a result of systems c) you are required to make a deduction
or market delays, or due to verification or filtering orwithholding in respect of Tax from any payment
procedures or unauthorised processes, email delays to be made; or
or due to telephone call waiting time or adherence
to internal policies and procedures; d) Fusion Markets is required to pay any Tax (other
than income tax) in respect of any payment made in
g) anything lawfully done by Fusion Markets in relation to these Terms at your request,
accordance with, pursuant or incidental to these
Terms; Then you:
h) any instruction, request or direction given by you; e) indemnify Fusion Markets against the Tax; and
i) arising from and in connection with or in any way f) agree to pay to Fusion Markets an additional
related to Fusion Markets in good faith accepting amount to ensure Fusion Markets receives a net
and acting on instructions received by facsimile amount (after payment of any Tax in respect of each
transmission, email or by other means of any kind additional amount) that is equal to the full amount
which are signed by or purported to be signed by Fusion Markets would have received had a
you or any Authorised Person; or deduction or withholding or payment of Tax not
been made.
j) any failure or delay by a Hedge Counterparty to
meet its obligations to Fusion Markets in respect of
or in relation to (including by corresponding with)
your Contracts and any payments made in
respect of them,

31. Default this case we can close all or part of the Open
Position in order to minimise the amount in dispute;
31.1 If a Default Event occurs, Fusion Markets may take
all or any of the following actions, or any other step b) Fusion Markets identifies or reasonably suspects
it considers reasonably necessary: that the Client has manipulated its prices, execution
process or other practices; or
a) Immediately require payment of any amount you
owe to Fusion Markets including any Margin call; c) there is a material breach of these Terms in
relation to the Contract.
b) terminate these Terms;
32.2 Fusion Markets may also, in its absolute discretion,
c) close any of your Open Positions; choose to enforce any Contract of a type referred
to in clause 32.1.
d) limit the size of your Open Positions either in
monetary terms or a number of Contracts;
33. Termination
e) refuse orders to establish new Contracts;
33.1 These Terms may be terminated immediately by
you or Fusion Markets by Notice in writing to the
f) convert any ledge balances to the Account
other.
Currency of the Account
33.2 The termination of these Terms shall not affect any
g) exercise Fusion Markets’ right of set off Contract previously entered into and shall not
relieve either party of any outstanding obligations
h) impose new Margin Cover requirements to your arising under these Terms, nor shall it relieve you
trading or to your Account; of any obligations arising out of any Contract
entered into prior to such termination.
i) lower the Credit Limit, or withdraw the provision
of any credit, in relation to the Account; 33.3 Each indemnity provided within these Terms
survives the termination of these Terms.
j) suspend the Account
33.4 Upon termination of these Terms, this clause
k) open one or more new Contracts on the Account survives and Fusion Markets may do one or more
of the following:
l) call on any guarantee in respect of your
obligations; a) cancel any outstanding Orders;
m) require you to immediately close our any Open b) enter into one or more Contracts to effect the
Position or settle any Contract in such a manner as Close Out of one or more unsettled Contracts or
Fusion Markets reasonably determines necessary; Open Positions (and determine the value at which
the Contract or Contracts will be Closed Out);
n) combine, close or consolidate any Accounts and
offset any and/or amounts owed to, or by, Fusion c) settle any Contract which has not at the time of
Markets in such a manner as Fusion Markets may in termination settled;
its absolute discretion determine; or
d) exercise any other rights Fusion Markets has
o) retain any amount owed by Fusion Markets to under these Terms; or
you against any contingent liability of yours or so
long as the contingency subsists. e) do, or refrain from doing, anything else which
Fusion Markets considers reasonable in the context
of these Terms (or any part of them) having been
32. Fusion Markets’ rights to close, void or enforce terminated.
Contracts
33.5 In the event that Fusion Markets is made aware of
32.1 Without limiting any other right Fusion Markets has or has reason to believe any of the following:
under these Terms, Fusion Markets may close or
void any Contract or take any other steps it a) that you have provided false or misleading
considers reasonably necessary where: information to Fusion Markets;
a) Fusion Markets is in dispute with the Client in or

respect of an Open Position or a Default Event. In

b) that you have participated or are participating or 34.2 If you do not consent to the amendment you can
have assisted or are assisting in money laundering terminate these Terms and the amendment will not
or terrorist financing; or apply retrospectively. Termination in this case does
not affect any obligations owed by you, or rights of
c) that you are being officially investigated by law Fusion Markets with regard to any open Contracts
enforcement and/or regulatory agencies; or held by you.
d) a Default Event or Insolvency Event has occurred,

or 35. Notices
35.1 Any notice required or permitted to be given under

e) the contract it has with its Hedge Counterparty
this Agreement or for the purposes of this
(Hedge Contract), or Fusion Markets’ rights under
Agreement (“Notice”) shall be in writing and shall:
the relevant Hedge Contract or in respect of the
relevant Underlying Instrument, are Closed Out,
a) If to you, be sent by prepaid registered mail or
suspended or terminated by the Hedge
delivered by hand to the address of the Client set
Counterparty (which may occur automatically
out in this Agreement, or such other address you
under the terms of any agreement between Fusion
designate in writing, or by Fusion Markets emailing
Markets and the Hedge Counterparty); or
your nominated email address, or by posting a
Notice to the Fusion Markets website; and
f) Fusion Markets considers, acting reasonably, that
the Hedge Counterparty or issuer of the Underlying
1) if posted on the Fusion Markets Website,
Instrument may not be able to meet its obligations
Notice is deemed to have been given 3 Days
to Fusion Markets under the terms of the Hedge
after the Notice was posted on the Fusion
Contract or Underlying Instrument or other
Markets Website; or
contracts between Fusion Markets and the issuer of
the Underlying Instrument or the Hedge
2) if the Notice was sent to the your address,
Counterparty.
the Notice is deemed to have been given on
the Day after the Notice was sent, unless
Fusion Markets, at its sole discretion, may
delivered by hand in which case the Notice is
terminate these Terms immediately by Notice to
deemed to have been given on delivery.
you, and Fusion Markets at its sole discretion shall
be relieved of any obligations set out in these Terms
b) If to Fusion Markets, be sent by prepaid
or arising out of the Contracts contemplated by
registered mail or delivered by hand to the address
these Terms, including any obligations arising out
of Fusion Markets set out in these Terms or the
of any Contracts already entered into with Fusion
PDS, or such other address as Fusion Markets
Markets.
designates in writing, and such Notice is deemed to
have been given on the Day after the Notice was
34. Amending these Terms sent, unless delivered by hand in which case the
Notice is deemed to have been given on delivery.
34.1 These Terms and any Contracts under them, may
be amended by Fusion Markets at any time. Fusion 35.2 Any Notice given or made under this Agreement
Markets will provide Notice to you of any such may also be sent by email if:
amendment. You agree to be bound by the terms
of such an amendment on the earlier of: a) the Notice is sent to the email address last
notified by the intended recipient to the sender; and
a) ten Days after Fusion Markets has posted Notice
of the amendment on the Fusion Markets Website; b) the sender keeps an electronic or printed copy of
or the Notice sent.
b) upon providing Notice to you by email; 35.3 A Notice sent by email will be deemed to have been
given on the first to occur of:
c) on the date of you entering any Contract after the
amendment. Any other amendments must be a) receipt by the sender of an email
agreed to in writing between Fusion Markets and acknowledgement from the recipient’s information
you. system showing that the Notice has been delivered
to the email address stated above;

b) the time that the Notice enters an information in or provided under these Terms, as later amended
system which is under the control of the recipient; only in accordance with these Terms.
or
37.3 These Terms are governed by and construed in
(c) the time that the Notice is first opened or read by accordance with the laws in force in New South
an employee or officer of the recipient. Wales, Australia and the parties submit to the
nonexclusive jurisdiction of the courts of New
35.4 If an Account is opened in the joint names of more South Wales, Australia.
than one person, each person agrees that we may
discharge any obligation we have to give a notice 37.4 Each part of these Terms is severable from the
or a document to those persons under these Terms balance of these Terms and if any part of these
or Applicable Laws by giving notice to any one of Terms is illegal, void, invalid or unenforceable, then
those persons. that will not affect the legality, effectiveness,
validity or enforceability of the balance of these
Terms.
36. Appointment of Fusion Markets as attorney
37.5 No failure by us to exercise, and no delay by us in
36.1 In consideration of Fusion Markets entering into exercising, any right, power or remedy in
the agreement on these Terms, you irrevocably connection with these Terms will operate as a
appoint Fusion Markets and each director, waiver of that right, power or remedy. No single or
secretary and principal executive officer and each partial exercise of any right, power or remedy will
employee (which employee’s title of office includes preclude any other or further exercise of such right,
the word “Manager” or "Head") of Fusion Markets power or remedy or the exercise of any other right,
and any other authorised representative of Fusion power or remedy.
Markets (including an authorised representative of
a related body corporate of Fusion Markets) 37.6 These Terms are not to be interpreted against our
severally as your attorney at any time and from time interests merely because we proposed these Terms
to time following a Default, to execute and deliver or some provision in it or because we rely on a
all documents and to do all things which your provision of these Terms to protect our interests.
attorney may consider necessary or desirable to
give effect to the provisions of these Terms, and in 37.7 You may not assign or otherwise transfer any of
particular, without limitation, in connection with, or your rights under these Terms to another person
incidental to, the exercise of any of the rights and without our prior written consent. Fusion Markets
powers of Fusion Markets under these Terms. may assign, novate or otherwise transfer any of its
Those powers may be exercised in the interests of rights under these Terms to another person without
Fusion Markets notwithstanding any conflict with your prior written consent including, without
the interests of Fusion Markets. This appointment limitation, in connection with a sale or transfer of all
survives termination of these Terms. or part of our business to another person. Such
an assignment shall only take place if a reasonable
person would not expect it to cause detriment to a
37. General typical client of Fusion Markets. You will execute
any documents (including a deed of novation)
37.1 Fusion Markets may from time to time delegate any reasonably required by Fusion Markets to effect
or all of its obligations, powers and discretions to such a transfer. If you do not agree to Fusion
anyone or more or all of its employees or any other Markets assigning its rights, you may terminate this
authorised representative of Fusion Markets (or a Agreement. However, termination in this case does
related body corporate of Fusion Markets). Fusion not affect any obligations owed by you, or rights of
Markets remains responsible for the acts or Fusion Markets with regard to any open Contracts
omissions of its employees and any authorised held by you.
representative of Fusion Markets (including an
authorised representative of a related body
corporate of Fusion Markets). A delegation by
Fusion Markets under this clause need not be in
writing.
37.2 These Terms and any relevant Application Form

completed by you contain the entire understanding
between you and Fusion Markets concerning the
provision of the Fusion Markets Products or
financial services and any other services referred to

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Financial Product

Gleneagle Asset Management Limited trading as Fusion Markets (Fusion Markets)

4. Your representations and warranties 6

5. Use of Personal Information 8

6. Legal Entity Identifier 8

7. Appointment of Authorised Persons 8

10. Method and timing of payment 11

11. Credit Limits 11

12. Authorisation Limits 12

13. Interest Charges on Open Positions 12

14. Margin Cover 12

15. Forced Liquidation 13

16. Division events 13

17. Set off against monies owed 13

20. Material Error 14

21. Deduction of Intermediary/Receiving Bank Fees 14

22. Circumstances beyond Fusion Markets’ Control 14

23. Fees and charges 14

24. Client monies and trust account 16

25. Payments into your Account 17

26. Rolling over Open Positions 17

27. Dispute Resolution 17

Fusion Markets – Financial Product Service Terms – 29 March 2021

29. Anti-Money Laundering and CounterTerrorism Financing 18

30. Limitation of liability, indemnities & Payments 19

32. Fusion Markets’ rights to close, void or enforce Contracts 21

34. Amending these Terms 21

36. Appointment of Fusion Markets as attorney 22

Fusion Markets – Financial Product Service Terms – 29 March 2021

1. Definitions and Interpretation Business Day means a day (other than a

1 Fusion Markets – Financial Product Service Terms – 29 March 2021

a) negligence; g) the violation of any law.

b) mistake; Division Event means any event having, or with

9) churning; Force Majeure Event means events or causes

2 Fusion Markets – Financial Product Service Terms – 29 March 2021

Margin means the amount of money (or money’s

3 Fusion Markets – Financial Product Service Terms – 29 March 2021

Personal Advice is as defined in the Representative is as defined in the Corporations

4 Fusion Markets – Financial Product Service Terms – 29 March 2021

2.3 In the event of any inconsistency between the 3. Our Services

e) you will not do anything which may result in the

6 Fusion Markets – Financial Product Service Terms – 29 March 2021

7 Fusion Markets – Financial Product Service Terms – 29 March 2021

8 Fusion Markets – Financial Product Service Terms – 29 March 2021

7.3 If a new person is appointed as an Authorised

9 Fusion Markets – Financial Product Service Terms – 29 March 2021

10 Fusion Markets – Financial Product Service Terms – 29 March 2021

10. Method and timing of payment 2) an amount applicable to unsettled trading

11 Fusion Markets – Financial Product Service Terms – 29 March 2021

b) you will continue to be liable to Fusion Markets

12 Fusion Markets – Financial Product Service Terms – 29 March 2021

f) Your obligation to maintain Margin Cover arises 16. Division events

15. Forced Liquidation b) adjusting the opening price of an Open Position,

e) at any time, and from time to time, Fusion

13 Fusion Markets – Financial Product Service Terms – 29 March 2021

18. Delay 22. Circumstances beyond Fusion Markets’

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15 Fusion Markets – Financial Product Service Terms – 29 March 2021