3253. Options trading agreement

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    1. A Dealer Member’s options trading agreement must define the rights and obligations of the Dealer Member and the client and, at a minimum, must include the following: 

      1. the time periods during which the Dealer Member accepts orders for execution,

      2. the Dealer Member’s right to exercise discretion in accepting orders,

      3. the Dealer Member’s obligations when errors and omissions occur,
      4. the method for distributing exercise assignment notices,
      5. the Dealer Member’s deadlines for a client to submit an exercise notice,
      6. a notice that:
        1. the Dealer Member may set maximum limits on short positions,
        2. the Dealer Member may apply cash-only terms during the last 10 days before expiry, and
        3. IIROC may impose other rules affecting existing or subsequent transactions.
      7. the client’s obligation to instruct the Dealer Member to close positions before expiry,
      8. the client’s obligation to comply with IIROC requirements and any entity’s requirements through which the options is traded, cleared, or issued, including, without limitation, complying with position and exercise limits,
      9. the client’s positive acknowledgement of receiving the current options disclosure statement, and
      10. any other matter required by an options trading, clearing or issuing entity.

    There is no history log for this rule.

    There is no history log for this rule.