CS Facility means a clearing and settlement facility, for example, any clearing or settlement facility through which Transactions are cleared or settled).

Current Market Price means the price available to Royal from its Hedge Counterparty or as quoted on the trading platform.

Hedge Counterparty means a person with whom Royal may enter into a hedge contract to hedge Royal’s exposure to Synthetic Equities or other Financial Products.

(o) Royal acts as principal in respect of the Financial Products issued by Royal;

(d) over-the-counter Transactions are derivatives not made on any Exchange so might be considered to involve a greater risk than an exchange-traded derivative since there is no exchange market on which to Close Out an Open Position - you are only able to open and close your positions with us;

6.4 We may cancel or amend an Order at our absolute discretion:
(c) if Royal in its reasonable opinion suspects scalping, arbitrage, market manipulation, insider trading, fraud, deceit or any other kind of nefarious behaviour;

3.3 Royal may set off any amount owing by you (including any negative balance in one or more Accounts) against any amount Royal owes you in any other Account, without notice.