Joint Back Office Agreement

Neither Bank of America, nor its affiliates, nor its executives, directors, employees, representatives, contractors or other suppliers, are responsible in any way, and you agree to exempt bank of America, its related companies and those persons for (1) inaccuracies, errors or delays or omissions of (a) of information on the sites, or b) the transmission or transmission of information on the sites; (2) loss or damage caused by a) such inaccuracies, errors, delays or omissions, b) non-performance, c) interruption of website use due to negligence or omission by Bank of America, its related companies, its officers, employees, agents, agents, contractors or other suppliers, or a “force majeure” (i.e. floods, exceptional weather conditions , seismic conditions, earthquakes, earthquakes, or other acts of God, fire, war, insurrection, riot, labor dispute, accident, government action, communication, power outage or equipment or software interference) or any other cause outside the control of Bank of America, its affiliates, its officers, directors, employees, agents, contractors or other suppliers. You understand that Bank of America is not responsible for information security on the Internet. If day trade companies are organized as LCs and individual traders contribute to the capital of the company, it is permissible for day traders to trade with the capital of the company. These LLC companies typically participate in joint back-office agreements (“JBO”) that allow them to increase their credit capacity. JBO agreements have become popular because they allow day trading companies to benefit from preferential margin treatment from their clearing companies. In particular, a day trading company that participates in a JBO agreement may obtain loans from its JBO clearing company on “good faith terms.” Therefore, the customer margin requirements under Regulation T and the SAR do not limit the extension of the credit to a JBO participant. On the contrary, credits can be extended up to 100% of the purchase price of the securities. As explained below, the SROs proposed a revision of their rules that would make it more difficult to implement these JBO agreements. Bank of America may, at any time, amend this agreement without notice. Your continued use of websites indicates that you remain bound by this agreement as it has been changed from time to time.

You should often consult these terms and conditions of sale in order to stay informed of changes that may affect you. If the secondary market sees a fall in prices and insurers are unable or unable to support the price (buy back shares as investors or as agents), this is called the “Breaking Syndicate”. Business Continuity Plan describes how employees stay in touch in the event of an internal or external threat and do their job in an emergency or emergency. B, such as a fire at the office or a DDoS cyberattack. Note that Regulation T allows registered broker-brokers to create a common back-office agreement by acquiring ownership of a single clearing company. While this gives JBOs the bona fide credit advantage under Regulation T, FINRA requires JBO and its participating members to meet certain capital and net capital requirements. A JBO member company must: Access to websites is only by invitation to institutional investors. No information or material on the website is or should be designed in such a way that it is akin to an offer to close a transaction or investment. The information contained in these pages is provided by the Hong Kong branch of Bank of America, N.A. and is collected from information produced by subsidiaries and affiliates of Bank of America Corporation.