1. Execution
1.2 ​It is understood that in relation to individual transactions, depending on the type of Client Account held by each Client, the Company will either be executing Orders as a counterparty in the particulartransaction in which case the Company will be the execution venue or it will be transmitting the Ordersfor execution to a third party (known as Straight Through Processing, STP), in which case the Companywill not be acting as a counterparty in the transaction and the execution venue will be the third party.

4.2 ​The Client agrees that placing a Stop Loss Order will not necessarily limit losses to the intended amounts, because market conditions may make it impossible to execute such an Order at the stipulatedprice and the Company bears no responsibility whatsoever.

a)For Interbank Accounts:
●The Company recalculates quotations on all traded instruments in real time on the basis of market conditions and streaming prices/liquidity obtained from liquidity providers and periodically provides the Client with these quotations as Market Snapshots;
●All quotations that the Client receives through the client terminal are indicative and represent the best available Bid price in the market and the best available Ask price in the market obtained from liquidity providers;
b)For Market maker Accounts:
●Quotations published on the Company’s web site are indicative;
●Quotes may differ from the price of the underlying asset. If the underlying market is closed,quotations provided by the Company reflect the assumed price of the underlying asset;