OPERATIONS MANUAL

1. NEW ACCOUNTS:
Opening an online trading account with Altos Advisory Services (http://alostrade.com) will provide you immediate and powerful access to a world of trading opportunities. Specific account documentation is needed to trade over the counter commodities and foreign exchange markets.

Please read the Clients Risk Disclosure Statement carefully prior to opening an account online/offline. The clients Risk Disclosure Statement must be filled up with all relevant details as per Altos’ KYC norms and duly signed by the client before submitting to Altos.

The Clients Agreement and Risk Disclosure Statement document will be duly attested by Altos and shipped back to the client at his specified address and after verifying the fulfillment of the KYC norms by the Operations Dept.

2. ACCOUNT ACTIVATION:
Security Margin in terms of Cheque/ Demand Draft/ Cash to be handed over to the Agent/Manager/Operations Dept.

Security Margin in the form of Cash/Demand Draft/Electronic Transfers ensures Trading Account activation on the same business day.

Security Margin in the form of Cheque will ensure Trading Account activation only on due realization of the instrument in the bank account of Altos.

No third party Cheques/DD shall be entertained.

3. ADDITIONAL SECURITY MARGIN:
Clients desiring to average/build new market positions are required to provide additional security margin to their existing trading accounts.

Variation Margin (VM) Call: VM call notice will be issued to the client when the margin in their account becomes less than the required margin on the existing market positions. Clients will be required to provide additional security margin to fulfil the Variation Margins calls before the next ‘Market Open’.

AUTO LOCK: The account gets Auto Locked when the margin in the trading account falls less than 30% of the required margin on the existing market positions.

Additional Security Margin for the above-specified cases will follow the business rule of clause (2).

CHEQUE BOUNCE: In case a cheque issued by the client bounces no cheques will be entertained by the same client henceforth whatsoever and a penalty of Rs. 500/- will be imposed on the client as cheque bounce charges.

4. MARGIN WITHDRAWAL:
Clients desiring to withdraw profit/security margin from their trading accounts are required to complete and duly sign a withdrawal request format provided by Altos before submitting the same for processing by Altos.

A processed withdrawal request will affect a debit in the trading account statement of the particular trading account followed by the issuance of an account payee cheque on or before the 5th business day after verification of the account status by Altos.

If the withdrawal request is submitted on a holiday the debit in the trading account statement will occur on the consecutive business day followed by usual processes by Altos.

5. QUOTATIONS:
Continuous “BID’ and ‘ASK’ prices are offered within a prescribed percentage of spreads ensuring that there is a buyer for a sell and a seller for a buy at all times. The Proprietory Electronic Trading Platform (www.altostrade.com) facilities client/trader users to place market orders, limit orders and stop loss orders.

Limit/Stop Loss Orders will only fire when the Limit Price is recorded on the Altos server.
Sufficient effective margin requirement in initiating positions is taken into consideration when a Limit Order is to be executed.
Market/Limit orders will be executed only when there is less congestion.

6. MARGIN TRANSFERS:
Transfer of margins between trading accounts under the same customer shall be effected on written/electronic request. Processing a transfer request will consume considerable time. This implies that volatile market conditions may influence the beneficiary trading account to suffer a loss that again will be at the risk of the client/trader and not binding on Altos.

7. TRADING ACCOUNT STATEMENTS:
A summary of daily transactions is updated on a real time in the trading portal www.altostrade.com It is advised to make a soft or hard copy backup of the Account Summary on a daily basis.

Loss of data/information in the account summary of the trading account will not be construed by Altos as deficiency of service and thereby irrevocably indemnify Altos for all consequences that may arise as a result of non adherence to the above advice.

The closing prices of the underlying assets traded and depicted by way of ‘BID’ and ‘ASK’ are that of a market maker and may differ from the exchange settlement prices, which is only a reference for trading and merely indicative in nature.

8. TERMINATION OF ACCOUNT:
Clients who wish to terminate their accounts need to sign the ‘Termination of Account-Declaration form’ and submit to Altos for processing.