客户协议
法律承认
盈透之所以能够保持低廉的佣金结构，是因为我们建立了自动交易流程以在最大程度上减少人为干预及决策。从这点出发，我们建立了若干管理盈透所有账户的简单条款。这些规则承认由于电子系统的自身特质(常常依赖于第三方连接)，系统有时可能无法工作或发生延迟。交易所和数据提供方也可能出错。
本人有义务接受所有按本人定单指令进行的定单执行。
尽管我们相信同行业中我们的故障几率最低，但事实上任何系统都可能偶尔故障，且常常是由人力不可控因素造成。因此盈透不对系统或网络错误负责，且要求最高级别可靠性的客户，须同意设置备用交易设施。
客户有责任对用户名和密码进行保密。并对由第三方使用其用户名和密码进行的交易负责。
盈透已确认交易执行，但随后交易被交易所，交易网络或监管当局取消，这种情况下，盈透确认的交易也被视为取消。
盈透通常按照接收顺序处理定单，包括盈透及其子公司提交的所有定单。
如果定单延迟传送，或定单传送受到了数据通信故障的影响，盈透不保证限价定单获得执行。
盈透不提供交易，投资或税务建议，客户不应听信盈透员工意图提供此类建议的言论。
盈透通常不会发出保证金追缴通知，对余额不足，不符合监管当局或盈透保证金要求的账户，盈透保留不经事先通知即立即平仓所有头寸的权利，盈透不对此举负责。考虑到市场或其他因素，盈透可自行决定发出保证金追缴通知且/或不强制平仓账户头寸。如果您收到了保证金追缴通知，您必须立即存入资金以补足保证金。
盈透客户须负责确保提供给盈透的信息的精确性和最新性。 盈透客户确保盈透知悉其当前使用的电邮地址，以便随时接收并查看盈透发出的电子邮件
1.账户交易控制及所有权证明
作为规管证券与商品期货经纪商，盈透证券按规定必须知悉每个客户账户中控制日常交易的主体及每个账户中所有权益的主要拥有人。
账户持有人声明账户持有人是账户中所有资产的唯一拥有人。
账户持有人声明，仅账户持有人对账户有交易控制权，除非账户持有人使用盈透证券网站提供的相关表格授予其他人交易权限。
2.2.保证金披露
由于您指定了保证金交易许可，您必须阅读并表示您接受保证金交易披露文件。请阅读下面的文件并在底部确认您接受该文件。
该披露基于美国金融业监管局("FINRA")的样本披露，主要介绍保证金账户交易的固有风险，包括盈透会在不通知客户的情况下平仓保证金不足的账户。
DISCLOSURE OF RISKS OF MARGIN TRADING
nteractive Brokers (“IB”) is furnishing this document to you to provide some basic facts about purchasing securities and futures contracts on margin, and to alert you to the risks involved with trading in a margin account. “Margin trading” can mean engaging in a transaction in which securities are purchased partially through a margin loan extended to you by IB, for which the securities act as collateral. Margin trading can also mean trading investment products such as futures or options in which an initial “margin” deposit is made to secure your obligations and further margin may be required to secure your obligations as the value of your positions changes.
This document also describes special risks associated with trading on margin in an IRA account, as described below.
Before trading stocks, futures or other investment products in a margin account, you should carefully review the margin agreement provided by IB and you should consult IB regarding any questions or concerns you may have with your margin accounts.
When you purchase securities, you may pay for the securities in full or you may borrow part of the purchase price from IB. If you choose to borrow funds from IB, you will open a margin account with the firm. The securities purchased are IB’s collateral for the loan to you. If the securities or futures contracts in your account decline in value, so does the value of the collateral supporting your loan, and, as a result, IB can take action, such as sell securities or other assets in any of your accounts held with IB or issue a margin call, in order to maintain the required equity in the account.
You should understand that pursuant to the IB Margin Agreement, IB generally will not issue margin calls, that IB will not credit your account to meet intraday margin deficiencies, and that IB generally will liquidate positions in your account in order to satisfy margin requirements without prior notice to you and without an opportunity for you to choose the positions to be liquidated or the timing or order of liquidation.
In addition, it is important that you fully understand the risks involved in trading securities or futures contracts on margin. These risks include the following:
You can lose more funds than you deposit in the margin account. A decline in the value of securities or futures contracts that are purchased on margin may require you to provide additional funds to IB or you must put up margin to avoid the forced sale of those securities or futures contracts or other assets in your account(s).
IB can force the sale of securities or other assets in your account(s). If the equity in your account falls below the maintenance margin requirements, or if IB has higher “house” requirements, IB can sell the securities or futures contracts or other assets in any of your accounts held at the firm to cover the margin deficiency. You also will be responsible for any shortfall in the account after such a sale.
IB can sell your securities or other assets without contacting you. Some investors mistakenly believe that a firm must contact them for a margin call to be valid, and that the firm cannot liquidate securities or other assets in their accounts to meet the call unless the firm has contacted them first. This is not the case. As noted above, IB generally will not issue margin calls and can immediately sell your securities or futures contracts without notice to you in the event that your account has insufficient margin.
You are not entitled to choose which securities or futures contracts or other assets in your account(s) are liquidated or sold to meet a margin call. IB has the right to decide which positions to sell in order to protect its interests.
IB can increase its “house” maintenance margin requirements at any time and is not required to provide you with advance written notice. These changes in firm policy often take effect immediately. Your failure to maintain adequate margin in the event of an increased margin rate generally will cause IB to liquidate or sell securities or futures contracts in your account(s).
If IB chooses to issue a margin call rather than immediately liquidating undermargined positions, you are not entitled to an extension of time on the margin call.
Special Risks of Trading on Margin in an IRA Account:
Margin Trading in an IRA Account May Not Be Suitable Depending on Your Financial Circumstances. Trading requiring margin (including futures trading and short option trading) involves a high degree of risk and may result in a loss of funds greater than the amount you have deposited in your IRA account. You must determine whether trading on margin in an IRA account is advisable based on your financial circumstances, your tolerance for risk, the number of years until your retirement, and other factors. You should consult a professional financial advisor to determine if margin trading in your IRA account is consistent with your financial goals.
You Must Closely Monitor Your Account and Your Trading to Avoid Adverse Tax Consequences: Trading requiring margin (including futures trading and short option trading) may require the deposit of additional funds to your account to maintain sufficient margin. At the same time, provisions of the Internal Revenue Code place limits on the amount of funds that can be deposited to an IRA account. Deposits to the account in excess of such limits may cause adverse tax consequences, including but not limited to, forfeiture of the tax-advantaged status of the IRA account and/or penalties. As described above, IB will liquidate positions in your account in the event that you cannot or do not deposit sufficient funds to satisfy margin requirements.
3.客户协议
The documents contained herein have been translated solely for convenience purposes. Tiger Brokers does not warrant or guarantee the completeness or accuracy of the translation. In the event of any inconsistency between the translated text and the original English text, the English text shall prevail.
在此本文件仅以提供方便为目的被翻译。老虎证券并不保证或确保翻译的完整性或正确性。在英文原文与中文翻译本不一致的情况下，应以英文版为准。
1. Customer Agreementi 客户协议
his Agreement ("Agreement") governs the relationship between Customer and Tiger Brokers ("Tiger"). If this Agreement varies from the Tiger website, this Agreement controls. This Agreement cannot be amended or waived except in writing by a Tiger officer. Customer Service employees cannot amend or waive any part of this Agreement. Customer acknowledges that Tiger may revise this Agreement by sending notice of the revised Agreement by e-mail or upon Customer log-in. Customer's use of Tiger after such notice constitutes acceptance of the revised Agreement.
本协议(以下简称为"协议")用于管辖客户与老虎证券有限公司(以下简称为"老虎")之间的关系。如本协议与老虎网站的内容有不一致之处，以本协议为准。除非经过老虎管理人员以书面形式提出，否则不可对本协议进行修改或放弃。客服人员不可修改或放弃本协议的任何部分。客户确认老虎可通过电子邮件发送修改协议通知或在客户登录后修改本协议。客户在上述通知后使用老虎服务被视为接受修改后的协议。
2. No Investment, Tax or Trading Advice 不提供投资、税务或交易建议
Tiger representatives are not authorized to provide investment, tax or trading advice or to solicit orders. Nothing on Tiger's website is a recommendation or solicitation to buy or sell securities, futures or other investments.
老虎代表未获授权提供投资、税务或交易建议或招揽定单。老虎网站上的任何内容均不可视为购买或出售证券、期货或其它投资产品的一种建议或招揽。
3. Responsibility for Customer Orders/Trades 客户定单/交易责任
Customer acknowledges that Tiger does not know whether someone entering orders with Customer's user name/password is Customer. Unless Tiger is notified and agrees, Customer will not allow anyone to access Customer's account. Customer is responsible for the confidentiality and use of Customer's user name/password and agrees to report any theft/loss of such user name/password, or any unauthorized access to Customer's account, immediately by telephone or electronically through the Tiger website. Customer remains responsible for all transactions entered using Customer's user name/password.
客户确认老虎并不知晓使用客户的用户名或密码输定单的人是否为客户本人。除非老虎公司已被告知并同意，否则客户应不允许任何人进入其账户。客户本人负责其用户名／密码的保密性与使用，并同意如上述用户名／密码被窃取或遗失或出现非法进入客户账户的情况，立即通过电话或通过老虎网站以电子方式报告。客户对使用其用户名／密码所进行的所有交易负责。
4. Order Routing 定单传递
Unless otherwise directed, Tiger will select the market/dealer to which to route Customer's orders. For products traded at multiple markets, Tiger may provide "Smart Routing", which seeks the best market for each order through a computerized algorithm. Customer should choose Smart Routing if available. If Customer directs orders to a particular market, Customer assumes responsibility for knowing and trading in accordance with the rules and policies of that market (e.g., trading hours, order types, etc.). Tiger cannot guarantee execution of every order at the best posted price: Tiger may not have access to every market/dealer; other orders may trade ahead; market centers may not honor posted prices or may re-route orders for manual handling; or market rules, decisions or system failures may prevent/delay execution of Customer's orders or cause orders not to receive the best price.
除非是直接传递，否则老虎将选择传递客户定单的市场／交易商。对于在多个市场交易的产品，老虎可能会提供"智能传递"手段，这一操作通过计算机算法为每个定单寻找最佳市场。在可用的情况下客户应选择智能传递。如客户将定单直接发送至一个特定的市场，则客户应承担知晓以及根据该市场的规定与政策进行交易的责任（如交易时间、定单类型等）。老虎不能保证所有定单均以最佳的公布价格执行，这是因为：老虎可能不能进入所有市场／交易商；其它定单可能提前交易；市场中心可能不认可公布价或可能重新发送定单进行手工操作；或市场规则、决定或系统故障可能防止／延迟客户定单的执行或导致定单不能接收最佳价格。
5. Order Cancellation/Modification 定单取消/修改
Customer acknowledges that it may not be possible to cancel/modify an order and that Customer is responsible for executions notwithstanding a cancel/modify request.
客户确认可能无法取消／修改定单，并且尽管发出定单取消／修改要求，客户仍需对定单的执行结果负责。
6. Order Execution 定单执行
Tiger shall execute Customer orders as agent, unless otherwise confirmed. Tiger can execute Customer orders as principal. Tiger may use another broker, or an affiliate, to execute orders, and they have benefit of all Tiger's rights hereunder. Tiger may decline any Customer order, or terminate Customer's use of Tiger's services at any time in Tiger's discretion. All transactions are subject to rules and policies of relevant markets and clearinghouses, and applicable laws and regulations. TIGER IS NOT LIABLE FOR ANY ACTION OR DECISION OF ANY EXCHANGE, MARKET, DEALER, CLEARINGHOUSE OR REGULATOR.
除非由客户另外确认，否则老虎应作为代理执行客户定单。 老虎可以作为执行客户定单的首要机构。老虎还可使用另一经纪商或一个分公司执行定单，且他们享有所有老虎的权利。老虎可自行决定拒绝任何客户定单或在任何时候终止客户使用老虎的服务。所有交易应遵守相关市场或清算机构的规定、政策及适用的法规。 老虎对任何交易所、市场、交易商、清算机构或监管机构的任何行动或决定不承担责任。
7. Confirmations 确认：
A. Customer agrees to monitor each order until Tiger confirms execution or cancellation. Customer acknowledges that confirmations of executions or cancellations may be delayed or may be erroneous (e.g. due to computer system issues) or may be cancelled/adjusted by an exchange. Customer is bound by the actual order execution, if consistent with Customer's order. If Tiger confirms execution or cancellation in error and Customer delays reporting such error, Tiger reserves the right to remove the trade from the account or require Customer to accept the trade, in Tiger's discretion.
A. 客户同意监视每个定单直至老虎确认执行或取消定单。客户知晓执行或取消的确认可能会被延误或可能发生错误（如由于计算机系统问题所引起）或可能被交易所取消／调整。如实际执行的定单与客户的定单一致，客户应对实际执行的定单负责。如老虎确认执行或取消有错误，且客户延迟报告上述错误，则老虎保留从账户中取消这一交易或要求客户接受该交易的权利，具体由老虎自行决定。
B. Customer agrees to notify Tiger immediately by telephone or electronically through the Tiger website if: i) Customer fails to receive an accurate confirmation of an execution or cancellation; ii) Customer receives a confirmation that is different than Customer's order; iii) Customer receives a confirmation for an order that Customer did not place; or iv) Customer receives an account statement, confirmation, or other information reflecting inaccurate orders, trades, balances, positions, margin status, or transaction history. Customer acknowledges that Tiger may adjust Customer's account to correct any error. Customer agrees to promptly return to Tiger any assets erroneously distributed to Customer.
B. 在以下情况下，客户同意立即通过电话或通过老虎的网站以电子方式通知老虎: i)客户未能收到定单被执行或被取消的准确确认; ii) 客户收到与客户定单不一致的确认; iii)客户收到一份客户并未下达定单的确认; 或iv)客户收到一个账户报告、确认或其它信息反映出不准确的定单、交易、余额、头寸、保证金状态或交易历史。客户确认老虎可能调整客户账户以更正任何错误。客户同意迅速将老虎由于失误分配给客户的任何资产返还给老虎。
8. Proprietary Trading - Display of Customer Orders 自营交易–显示客户定单
Subject to all laws and regulations, Customer authorizes Tiger to execute proprietary trades of itself and its affiliates, though Tiger may simultaneously hold unexecuted Customer orders for the same products at the same price.
根据所有法律与法规的规定，客户授权老虎执行其与其分支机构的自营交易，虽然老虎可能对同一产品以同一价格同时持有未执行的客户定单。
9. Customer Qualification 客户资质
Customer warrants that his, her or its application is true and complete; will promptly notify Tiger of any information changes; and authorizes Tiger to make any inquiry to verify information.
客户需保证其申请资料的真实及完整性; 如任何信息发生变化，将迅速通知老虎; 客户还授权老虎公司进行任何调查以证实上述信息。
A. Natural Persons: Customer warrants that Customer is over 18; is under no legal incapacity; and has sufficient knowledge and experience to understand the nature and risks of the products to be traded.
A. 自然人： 客户保证已年满18周岁; 具有所有法定资格; 具有足够的知识与经验理解将要交易的产品的性质与风险。
B. Organizations: Customer and its authorized representatives warrant that Customer: (i) is authorized under its governing document(s) and in the jurisdictions in which it is organized and/or regulated to enter this Agreement and trade (including on margin if applicable); (ii) is under no legal incapacity; and (iii) that persons identified to enter orders have proper authority and have sufficient knowledge and experience to understand the nature and risks of the products to be traded.
B. 组织：客户与其授权代表保证，客户:(i)根据其组织文件和其所组建和／或受监管的管辖地内获得授权签署本合同与交易（如适用的话，包括保证金交易）;(ii)具有所有法律资格; 且(iii)确认输入定单的人员具有适当的授权且具有足够的知识与经验理解其所将要交易的产品的性质与风险。
C. Trusts: "Customer" refers to the Trust and/or Trustees. Trustee(s) represent(s) that there are no Trustees other than listed in the application and certifies(y) that Tiger may follow instructions from any Trustee and deliver funds, securities, or any other assets to any Trustee or on any Trustee's instructions, including delivering assets to a Trustee personally. Tiger, in its discretion, may require written consent of any or all Trustee(s) prior to following instructions of any Trustee. Trustee(s) has (have) the power under the Trust documents and applicable law to enter this Agreement, open the type of account applied for, and enter transactions and issue instructions. Such powers include, without limit, authority to buy, sell (including short), exchange, convert, tender, redeem and withdraw assets (including delivery of securities to/from the account) to trade securities on margin or otherwise (including purchase/sale of options), and trade futures and/or options on futures, for the Trust. Should only one Trustee execute this Agreement, Trustee represents that Trustee has the authority to execute this Agreement, without consent by the other Trustees. Trustee(s) certifies(y) that all transactions for this account will comply with the Trust documents and applicable law. Trustee(s), jointly and severally, shall indemnify Tiger and hold Tiger harmless from any claim, loss, expense or liability for effecting any transactions, and acting upon any instructions given by the Trustee(s).
C. 信托："客户" 指的是信托人和／或受托人。受托人表示除了列明在申请资料上的受托人以外没有其他的受托人，并证实老虎可遵从任何受托人的指示，将资金、证券或任何其它资产交付给任何受托人或根据任何受托人的指示将资金、证券或任何其它资产交付给任何受托人，包括将资产交付给受托人本人。老虎可自行决定要求在遵从任何受托人的指示前获得任何或所有受托人的书面同意。根据信托文件和现行法律，受托人有权签署本合同、打开所申请的账户类型、进行交易及发布指令。上述权力包括但不限于由信托授权买入、卖出（包括卖空）、交易、转换、偿还、赎回与提取资产（包括向／从账户内交付证券）、授权以保证金交易证券或与此相反（包括购买／出售期权）、交易期货和／或交易期货期权。如只有一名受托人执行本合同，受托人表示无需获得其它受托人同意的情况下其有权执行本合同。受托人证明本账户的所有交易将遵守信托文件与适用法律。受托人应共同并各自保障老虎公司免于承担根据受托人指示采取的任何交易和行动所引起的任何索赔、损失、费用或责任。
D. Regulated Persons and Entities: Unless Customer notifies Tiger otherwise, Customer represents that Customer is not a broker-dealer; futures commission merchant; or affiliate, associated person or employee thereof. Customer agrees to notify Tiger immediately by telephone or electronically through the Tiger website if Customer becomes employed or associated with a broker-dealer or futures commission merchant.
D.受监管的个体或实体： 除非客户通知老虎，否则客户表示他不是一名经纪商-交易商、期货佣金商、或其分支机构、关联人士或雇员。如果客户成为一个经纪商-交易商或期货佣金商的雇员或与之相关联，客户同意立即通过电话或通过老虎的网站以电子方式通知老虎。
10. Joint Accounts 联名账户
Each joint account holder agrees that each joint holder has authority, without notice to the other, to: (i) buy/sell securities, futures or other products (including on margin); (ii) receive account confirmations and correspondence; (iii) receive and dispose of money, securities or other assets; (iv) enter, terminate, or agree to modify this Agreement; (v) waive any part of this Agreement; and (vi) deal with Tiger as if each joint holder was the sole holder. Notice to any joint holder constitutes notice to all joint holders. Each joint account holder is jointly and severally liable to Tiger for all account matters. Tiger may follow instructions of any joint holder and make delivery to any joint account holder individually of any account property.
每个联名账户的持有人同意每位联名持有人在不通知其它持有人的情况下有权：(i)买／卖证券、期货或其它产品（包括保证金交易）；(ii)接收账户确认与函件；(iii)接收与处理钱款、证券或其它资产；(iv) 签署、终止或同意修改本合同；(v)放弃本合同的任何部分；和(vi)如每个联名持有人为单独的持有人与老虎进行交道。发给任何联名持有人的通知视为发给所有联名持有人的通知。每个联名账户持有人共同并各自向老虎负责所有账户事宜。老虎可遵从任何一位联名持有人的指示，并可将任何账户财产单独交付给任何账户持有人。
Upon death of any joint holder, the surviving holder shall give Tiger notice by telephone or electronically through the Tiger website and Tiger may, before or after notice, initiate proceedings, require documents, retain assets and/or restrict transactions as it deems advisable to protect itself against any liability or loss. The estate of any deceased joint account holder shall be liable and each survivor will be liable, jointly and severally, to Tiger for any debt or loss in the account or upon liquidation of the account. Unless Customers indicate otherwise, Tiger may presume that account holders are joint tenants with rights of survivorship. Upon death of any joint holder, the account shall be vested in the surviving holders, without in any manner releasing the deceased joint holder's estate from liability.
在任何联名持有人已故后，幸存的持有人应通过电话或通过老虎网站以电子方式通知老虎，老虎可在通知前或通知后，发起诉讼、要求提交文件、保留资金和／或采取其所认为适当的措施限制交易以保护其自身免于任何责任或损失。任何已故联名账户持有人的遗产与每位幸存的联名账户持有人将共同并各自向老虎公司负责赔偿账户内的或账户清算后的任何债务或损失。除非客户另有说明，否则老虎可认为账户持有人是共同财产占有人，对共有财产中死者权利部分享有权利。在任何联名账户持有人死亡后，账户应被授予给幸存的持有人，同时不得以任何方式使死亡的联名持有人的遗产免于承担责任。
11. Margin 保证金
A. Risk of Margin Trading: Margin trading is highly risky and may result in a loss of funds greater than Customer has deposited in the account. Customer represents that he or she has read the "Disclosure of Risks of Margin Trading" provided separately by Tiger.
A.保证金交易的风险：保证金交易具有高风险性，导致的损失可能超过客户账户内的已存资金。客户表示已阅读由老虎公司单独提供的"保证金交易风险披露书"。
B. Requirement to Maintain Sufficient Margin Continuously: Margin transactions are subject to initial and maintenance margin requirements of exchanges, clearinghouses and regulators and also to any additional margin requirement of TIGER, which may be greater ("Margin Requirements"). TIGER MAY MODIFY MARGIN REQUIREMENTS FOR ANY OR ALL CUSTOMERS FOR ANY OPEN OR NEW POSITIONS AT ANY TIME, IN TIGER'S SOLE DISCRETION. Customer shall monitor his, her or its account so that at all times the account contains sufficient equity to meet Margin Requirements. Tiger may reject any order if the account has insufficient equity to meet Margin Requirements, and may delay processing any order while determining margin status. Customer shall maintain, without notice or demand, sufficient equity at all times to continuously meet Margin Requirements. Formulas for calculating Margin Requirements on the Tiger website are indicative only and may not reflect actual Margin Requirements. Customer must at all times satisfy whatever Margin Requirement is calculated by Tiger.
B.要求连续维持足够保证金： 保证金交易应遵守交易所、清算机构、监管机构的初始保证金与维持保证金的要求，同样还应遵守老虎的任何附加保证金规定，老虎的保证金的金额可能会更高("保证金要求")。老虎可自行决定在任何时间对任何开仓或新头寸修改任何或所有客户的保证金要求。客户应监控其账户以保证在任何时候账户均持有的足够的股权满足保证金要求。 如账户内的股权不足以达到保证金要求，则老虎可拒绝任何定单，且可在确定保证金状态时延迟处理任何定单。无需任何通知或要求，客户应在任何时候保持足够的股权以持续满足保证金要求。老虎网站上用的保证金计算公式仅作参考，可能不能反映出实际的保证金要求。客户必须在任何时候满足由老虎计算的保证金要求。
C. Tiger Will Not Issue Margin Calls: Tiger does not have to notify Customer of any failure to meet Margin Requirements prior to Tiger exercising its rights under this Agreement. Customer acknowledges that Tiger generally will not issue margin calls; generally will not credit Customer's account to meet intraday or overnight margin deficiencies; and is authorized to liquidate account positions in order to satisfy Margin Requirements without prior notice.
C. 老虎将不发出追加保证金通知：老虎在根据本合同行使其权利前不一定非得通知客户其未能达到保证金要求。客户确认老虎一般不会发出追加保证金的通知；一般来说将不会授信客户账户补足日内或隔夜保证金短缺；且在不事先通知的情况下有权利平仓账户头寸以满足保证金要求。
D. Liquidation of Positions and Offsetting Transactions 清算头寸与抵消交
i. IF AT ANY TIME CUSTOMER'S ACCOUNT HAS INSUFFICIENT EQUITY TO MEET MARGIN REQUIREMENTS OR IS IN DEFICIT, TIGER HAS THE RIGHT, IN ITS SOLE DISCRETION, BUT NOT THE OBLIGATION, TO LIQUIDATE ALL OR ANY PART OF CUSTOMER'S POSITIONS IN ANY OF CUSTOMER'S TIGER ACCOUNTS, INDIVIDUAL OR JOINT, AT ANY TIME AND IN ANY MANNER AND THROUGH ANY MARKET OR DEALER, WITHOUT PRIOR NOTICE OR MARGIN CALL TO CUSTOMER. CUSTOMER SHALL BE LIABLE AND WILL PROMPTLY PAY TIGER FOR ANY DEFICIENCIES IN CUSTOMER'S ACCOUNT THAT ARISE FROM SUCH LIQUIDATION OR REMAIN AFTER SUCH LIQUIDATION. TIGER HAS NO LIABILITY FOR ANY LOSS SUSTAINED BY CUSTOMER IN CONNECTION WITH SUCH LIQUIDATIONS (OR IF THE TIGER SYSTEM DELAYS EFFECTING, OR DOES NOT EFFECT, SUCH LIQUIDATIONS) EVEN IF CUSTOMER RE-ESTABLISHES ITS POSITION AT A WORSE PRICE.
i. 如在任何时候，客户账户中的股权不足以满足保证金要求或为亏缺，则老虎有权自行决定但并非有此义务，在任何时候以任何方式、通过任何市场或交易商，在无事先通知或向客户发出追加保证金通知的情况下，清算在任何客户的老虎账户内所有或任何部分客户头寸（无论是个人的账户或联名账户）。客户应负责且将迅速向老虎支付由于上述平仓或上述平仓后保留的头寸所引起的客户账户账面所短少的金额。老虎对与上述平仓有关的客户所遭受的任何损失均不负有责任（或如老虎系统延迟执行或未能执行上述平仓）即便客户在一个更差的价格重建其仓位。
ii. Tiger may allow Customer to pre-request the order of liquidation in event of a margin deficiency, but such requests are not binding on Tiger and Tiger retains sole discretion to determine the assets to be liquidated and the order/manner of liquidation. Tiger may liquidate through any market or dealer, and Tiger or its affiliates may take the other side of the transactions consistent with laws and regulations. If Tiger liquidates any/all positions in Customer's account, such liquidation shall establish Customer's gain/loss and remaining indebtedness to Tiger, if any. Customer shall reimburse and hold Tiger harmless for all actions, omissions, costs, fees (including, but not limited to, attorney's fees), or liabilities associated with any such transaction undertaken by Tiger. If Tiger executes an order for which Customer did not have sufficient equity, Tiger has the right, without notice, to liquidate the trade and Customer shall be responsible for any resulting loss and shall not be entitled to any resulting profit.
ii. 如出现保证金不足的情况，老虎公司可允许客户预先要求清算顺序，但上述要求对老虎公司不具有约束力，老虎公司有权独自确定要清算的资产、清算顺序及清算方式。老虎可通过任何市场或交易商进行清算，老虎或其分支机构可能按符合法律法规的情况下做为交易的另一方。如老虎清算客户账户中的任何／所有仓位，上述清算仓位应确定客户的收益／损失与所欠老虎的债务，如有的话。客户应对由老虎所承担的任何上述交易相关的所有诉讼、疏忽、成本与费用（包括但不限于律师费）或责任做出补偿或使之不受损害。如老虎公司在客户账户内无足够的股权时执行一个定单，老虎有权在不事先通知客户的情况下清算交易，且客户应对任何由此引起的损失负责，且没有权利获得任何由此所得的利润。
iii. If Tiger does not, for any reason, liquidate under-margined positions, and issues a margin call, Customer must satisfy such call immediately by depositing funds. Customer acknowledges that even if a call is issued, Tiger still may liquidate positions at any time.
iii. 无论出于何种原因，如果老虎未能清算保证金不足的头寸且发出追加保证金通知，客户必须立即存入资金满足上述保证金追缴通知。客户确认如发出追缴通知后，老虎仍可在任何时候平仓头寸。
iv. Customer acknowledges that Tiger also has the right to liquidate all or part of Customer's positions without prior notice: (i) if any dispute arises concerning any Customer trade, (ii) upon any "Default" as described in 16 below, or (iii) whenever Tiger deems liquidation necessary or advisable for Tiger's protection.
iv. 客户确认老虎同样还有权在没有事先通知时清算所有或部分客户的仓位：(i)如在客户的任何交易出现任何争议时，(ii)出现在以下第16条中所述的任何"违约"后，或(iii)任何时候当老虎认为为了保护老虎的利益有必要或适当地进行清算时。
12. Universal Accounts 全能账户
A Tiger Universal Account is two underlying accounts, a SEC-regulated securities account and a CFTC-regulated commodity account. Customer authorizes transfers between the securities and commodity accounts to cover Margin Requirements and other obligations, and acknowledges Tiger may liquidate positions to cover obligations in the other account. Customer authorizes Tiger to provide combined confirmations/statements for both accounts. Customer acknowledges that only assets in the securities account are covered by SIPC protection and excess coverage and not assets in the commodity account.
一个老虎全能账户为两个基础账户, 其中一个是美国证券交易委员会(SEC)监管的证券账户，另一个是美国商品期货交易委员会(CFTC)监管的商品账户。客户授权在证券与商品账户之间进行转账以满足保证金要求与其它债务要求并确认老虎可平仓以支付其它账户内的债务。客户授权老虎为上述账户提供合并确认书／报表。客户确认仅证券账户内的资产受到美国证券投资者保护基金(SIPC)的保护或者额外保护，但不包括商品账户内的资产。
13. Short Sales 卖空
Customer acknowledges that short sales must be done in a margin account, subject to Margin Requirements; that prior to selling short, Tiger must believe it can borrow stock for delivery; and that if Tiger cannot borrow stock (or re-borrow after a recall notice) Tiger may buy-in stock on Customer's behalf, without notice to Customer, to cover short positions and Customer is liable for any losses/costs.
客户确认卖空必须在保证金账户内进行，并符合保证金的要求; 在卖空前，老虎必须确信其能借入股票进行交付；且如老虎不能借入股票（或在召回通知发出后再次借用），老虎可在不通知客户的情况下以客户名义买入股票以补仓，客户对此所引发的任何损失／费用负责。
14. Tiger's Right to Loan/Pledge Customer Assets 老虎借贷/质押客户资产的权利
As allowed by law,Tiger is authorized by Customer to lend to itself or others Customer securities or assets. Tiger may, without notice, pledge, re-pledge, hypothecate or re-hypothecate Customer's securities and assets, separately or together with those of other customers, for any amount due in any Tiger account in which Customer has an interest, without retaining in Tiger's possession or control a like amount of assets. For loans of securities, Tiger may receive financial and other benefits to which Customer is not entitled. Such loans could limit Customer's ability to exercise securities' voting rights.
根据法律规定允许的范围，客户授权老虎可以向其或其它客户借出证券或资产。无需通知客户，老虎可对客户在老虎账户中有股权的任何到期金额单独或与其它客户一起质押、再质押、抵押或再抵押客户的证券与资金，而老虎不必保持对一项相同资产的拥有或控制权。对于证券的借贷，老虎可接受客户无权享有的经济利益与其它利益。该等借贷可能会限制客户行使证券表决权的能力。
15. Security Interest 担保权益
All assets of any kind held by or on behalf of Tiger for Customer's account are hereby pledged to Tiger and are subject to a perfected first priority lien and security interest in Tiger's favor to secure performance of obligations and liabilities to Tiger arising under this or any other Agreement.
由老虎所持有的或代表老虎的客户账户的所有客户资产在此质押给老虎，且老虎对留置与担保权益应享有完全优先受偿的权利，以确保本合同或任何其它合同项下的所欠下的老虎的债务与欠债得以清偿。
16. Event of Default 违约事件
A "Default" occurs automatically, without notice upon: (i) Customer breach/repudiation of any agreement with Tiger; (ii) Customer failure to provide assurance satisfactory to Tiger of performance of an obligation, after request from Tiger in Tiger's sole discretion; (iii) proceedings by/against Customer under any bankruptcy, insolvency, or similar law; (iv) assignment for the benefit of Customer's creditors; (v) appointment of a receiver, trustee, liquidator or similar officer for Customer or Customer property; (vi) Customer representations being untrue or misleading when made or later becoming untrue; (vii) legal incompetence of Customer; (viii) proceeding to suspend Customer's business or license by any regulator or organization; (ix) Tiger having reason to believe that any of the foregoing is likely to occur imminently.
在不通知的情况下，"违约"在以下情况下自动发生：(i)客户违反／拒绝履行与老虎之间的任何合同；(ii)在老虎自行决定发出要求后，客户未能向老虎提供让老虎满意的清偿债务保证；(iii) 根据任何破产法或相似的法律，由客户发起或针对客户发起诉讼；(iv)为了客户债权人的利益进行转让；(v)指定客户或客户财产的接收人、受托人、财产清算人或类似人员；(vi)客户的陈述在当时进行时不真实或具有误导性，或后来不具有真实性；(vii)客户无法律行为能力；(viii)由任何监管机构或组织终止客户业务或许可；(ix)老虎有理由相信任何以上情况可能即将发生。
Customer unconditionally agrees that, upon a Default, Tiger may terminate any or all Tiger's obligations to Customer and Tiger shall have the right in its discretion, but not the obligation, without prior notice, to liquidate all or any part of Customer's positions in any Tiger account, individual or joint, at any time and any manner and through any market or dealer. Customer shall reimburse and hold Tiger harmless for all actions, omissions, costs, fees (including, but not limited to, attorney's fees), or liabilities associated with any Customer Default or any transaction undertaken by Tiger upon Default.
客户无条件同意一旦违约，老虎可终止履行其对客户的部分或所有义务，且老虎有权自行决定但并非有此义务在无事先告知的情况下，在任何时间以任何方式通过任何市场或交易商清算任何老虎个人账户或联名账户内所有或部分客户的仓位。 客户应对任何客户违约相关的、或者因客户违约由老虎完成的交易相关的所有诉讼、疏忽、成本与费用（包括但不限于律师费）或债务做出补偿或使之不受损害。
17. Suspicious Activity 可疑行为
If Tiger in its sole discretion believes that a Customer account has been involved in any fraud or crime or violation of laws or regulations, or has been accessed unlawfully, or is otherwise involved in any suspicious activity (whether victim or perpetrator or otherwise), Tiger may suspend or freeze the account or any privileges of the account, may freeze or liquidate funds or assets, or may utilize any of the remedies in this Agreement for a "Default".
如老虎根据其自已的判断认为客户的账户参与了任何诈欺或犯罪行为，或违反法律法规，或已被非法侵入或卷入任何可疑行为（无论是作为受害者或犯罪者或其它身份），老虎可终止或冻结账户、或账户的任何特权；可冻结或清算资金或资产；或可利用本合同的"违约事件"的任何法律补偿。
18. Multi-Currency Function in Tiger Accounts 老虎账户内的多币种功能
A. Customers may be able to trade products denominated in different currencies using a base currency chosen by Customer. Upon purchase of a product denominated in a different currency from the base currency, a margin loan is created to fund the purchase, secured by the assets in Customer's accounts. If Customer maintains positions denominated in foreign currencies, Tiger will calculate Margin Requirements by applying exchange rates specified by Tiger. TIGER WILL APPLY "HAIRCUTS" (A PERCENTAGE DISCOUNT ON THE FOREIGN CURRENCY EQUITY AMOUNT) TO REFLECT THE POSSIBILITY OF FLUCTUATING EXCHANGE RATES BETWEEN THE BASE CURRENCY AND THE FOREIGN CURRENCY. CUSTOMER MUST CLOSELY MONITOR MARGIN REQUIREMENTS AT ALL TIMES, PARTICULARLY FOR POSITIONS DENOMINATED IN FOREIGN CURRENCIES, BECAUSE FLUCTUATION IN THE CURRENCY AND THE VALUE OF THE UNDERLYING POSITION CAN CAUSE A MARGIN DEFICIT.
A. 客户可使用一个由客户选定的基础货币对以不同货币计价的产品进行交易。 在购买与基础货币不同的计价货币产品时，创建了为购买产品提供资金的保证金，并由客户账户内的资金提供担保。如客户保持以外币计价的头寸，老虎将利用由其指定的汇率，计算保证金要求。老虎将利用"折扣"基于外币的股权额的一个百分比折扣率) 以反映基础货币与该外币之间的波动汇率的可能性。客户必须随时密切监视保证金要求，特别是以外币计价的头寸的保证金要求。因为该货币与底层证券头寸价值的波动可能引起保证金不足。
B. Customer agrees that Tiger’s obligations to Customer shall be denominated in: (i) the United States dollar; (ii) a currency in which funds were deposited by Customer or were converted at the request of Customer, to the extent of such deposits and conversions; or (iii) a currency in which funds have accrued to the customer as a result of trading conducted on a designated contract market or registered derivatives transaction execution facility, to the extent of such accruals. Information regarding Customer’s currency conversions is provided on the Tiger customer statements. Customer further agrees that Tiger may hold customer funds in: (i) the United States; (ii) a money center country as defined by the US Commodity Exchange Act & regulations thereunder; or (iii) the country of origin of the currency. In addition, Customer acknowledges and authorizes Tiger to hold Customer’s funds outside the United States, in a jurisdiction that is neither a money center country nor the country of origin of the currency in order to facilitate Customer’s trading in investments denominated in that currency.
B. 客户同意老虎对其应尽义务范围按以下所列货币项目为基准进行界定：(i)美元；(ii)客户存入基金的货币或要求转换的货币，包括客户所存放的资金和所转换成的货币的额度；或(iii)客户通过在特定的合约市场进行交易所产生的基金货币，或是客户通过合法衍生性商品交易市场投资获利产生的货币。客户货币转换的相关资讯详载于老虎客户声明中。此外，客户同意在下列地点条件下，老虎可以持管其资金：(i)美国；(ii) 美国商品交易法及其相关规定所认可的货币中心国家境内；或(iii) 该币种的原属国家境内。此外，客户认可同意并授权老虎可以在美国境外持管其资金，以方便老虎能在美国境外用当地的货币来协助客户进行交易投资，上述所称的美国境外，是指货币交易中心或货币原属国以外的地区，其司法管辖权不属美国。
19. Foreign Currency Exchange ("Forex") Transactions 外币兑换（简称"外汇交易"）
A. HIGH RISKS OF FOREX TRADING: FOREX TRADING IS GENERALLY UNREGULATED, IS HIGHLY RISKY DUE TO THE LEVERAGE (MARGIN) INVOLVED, AND MAY RESULT IN LOSS OF FUNDS GREATER THAN CUSTOMER DEPOSITED IN THE ACCOUNT. Customer represents that he or she has read and acknowledges the "Risk Disclosure Statement for Forex Trading and Multi-Currency Accounts" provided separately by Tiger.
A. 外汇交易的高风险性： 外汇交易一般不受监管，由于牵涉到杠杆（保证金），具有高风险性，且所引起的资金损失可能超过账户内客户所存的资金。客户确认老虎公司单独提供的"外汇交易与多币种账户风险披露声明"。
B. For Forex transactions, Tiger generally will act as agent or riskless principal and charge a fee. Tiger may effect Forex transactions through an affiliate or third party, which may profit or lose from such transactions. Customer agrees that Tiger may transfer to or from Customer's regulated futures or securities account(s) from or to any of Customer's non-regulated Forex account any funds or assets that may be required to avoid margin calls, reduce debit balances or for any other lawful reason.
B. 对于外汇交易，老虎通常作为一个代理人或无风险主体，收取手续费。老虎可通过其分支机构或第三方进行外汇兑换交易，上述分支机构或第三方可从上述交易中获得收益或承担损失。客户同意老虎可将任何资金或资产转出或转入客户的受监管的期货或证券账户、转入或转出客户的任何非监管外汇账户，以便避免保证金追缴通知、减少借方余额或为了任何其它合法理由。
C. Netting: (i) Netting by Novation. Each Forex transaction between Customer and Tiger will immediately be netted with all then existing Forex transactions between Customer and Tiger for the same currencies to constitute one transaction. (ii) Payment Netting. If on any delivery date more than one delivery of a currency is due, each party shall aggregate the amounts deliverable and only the difference shall be delivered. (iii) Close-Out Netting. If Customer: (a) incurs a margin deficit in any Tiger account, (b) defaults on any obligation to Tiger, (c) becomes subject to bankruptcy, insolvency or other similar proceedings, or (d) fails to pay debts when due, Tiger has the right but not the obligation to close-out Customer's Forex transactions, liquidate all or some of Customer's collateral and apply the proceeds to any debt to Tiger. (iv) Upon Close-Out Netting or any "Default", all outstanding Forex transactions will be deemed terminated as of the time immediately preceding the triggering event, petition or proceeding. (v) Tiger's rights herein are in addition to any other rights Tiger has (whether by agreement, by law or otherwise).
C. 净额结算： (i)通知债务更新进行净额结算。客户与老虎之间的每笔外汇兑换交易将立即以相同的币种进行客户与老虎之间的所有现有外汇兑换交易进行净额结算以构成一次交易。(ii)支付净额结算。如在任何一个交割日期，有一种货币的多个到期进行交割，则每一方应计算应交割的总金额，只进行差额的交割。(iii)终止型净额结算。如客户：(a)在任何老虎的账户内出现保证金短缺；(b)在任何对老虎的义务方面违约，(c)进入破产或其它相似程序，或(d)未能支付到期债务，则老虎有权但无此义务终止客户外汇兑换交易、清算所有或部分客户的担保品并将所得用于支付所欠老虎的任何债务。(iv)在终止型净额清算或任何"违约"后，所有未执行的外汇兑换交易将视为在触发事件、请愿或诉讼前即已终止。(v)老虎的权利附加在老虎拥有的任何其它权利上（无论是合同、法律等所赋予的权利）。
D. Nothing herein constitutes a commitment of Tiger to offer Forex transactions generally or to enter into any specific Forex transaction. Tiger reserves the unlimited right to refuse any Forex order or to decline to quote a two-way market in any currency.
D.本合同中任何内容不得视为老虎承诺提供一般的外汇兑换交易或签署任何特定的外汇兑换交易。老虎保留不受限制拒绝任何外汇兑换交易定单或拒绝以任何货币进行双向市场报价的权力。
20. Commodity Options and Futures Not Settled in Cash 不以现金结算的商品期权与期货
Customer acknowledges that: (A) commodity options cannot be exercised and must be closed out by offset; and (B) for futures contracts that settle not in cash but by physical delivery of the commodity (including currencies not on Tiger's Deliverable Currency List), Customer cannot make or receive delivery. If Customer has not offset a commodity option or physical delivery futures position prior to the deadline on the Tiger website, Tiger is authorized to roll or liquidate the position or liquidate any position or commodity resulting from the option or futures contract, and Customer is liable for all losses/costs.
客户确认：(A)商品期权不能行使，必须通过对冲来平仓；且(B) 对于不以现金结算而通过商品实物交割的期货合约（包括不在老虎可交割货币清单上的货币），客户不能进行或接受交割。如客户在老虎网站上公布的最后截止日期前尚未抵销商品期权或实物交割期货仓位，客户授权老虎转仓或平仓或清算由期权或期货合约所引起的任何仓位或商品，客户负责承担所有损失/费用。
21. Commissions and Fees, Interest Charges, Funds 佣金与手续费、利息费用、资金
Commissions and fees are as specified on the Tiger website unless otherwise agreed in writing by an officer of Tiger. Customer acknowledges that Tiger deducts commissions/fees from Customer accounts, which will reduce account equity. Positions will be liquidated if commissions or other charges cause a margin deficiency. Changes to commissions/fees are effective immediately upon either of: posting on the Tiger website or email or other written notice to Customer. Tiger shall pay credit interest to and charge debit interest from Customer at interest rates and terms on the Tiger website. Customer funds will not be disbursed until after transactions are settled. Terms and conditions for deposit and withdrawal of funds (including holding periods) are as specified on the Tiger website.
除非老虎管理人员书面同意，否则佣金与手续费按照老虎网站上确定的收取。客户确认老虎从客户账户扣除佣金／手续费，由此将降低账户的股权。如佣金或其它收费引起保证金出现短缺，将平仓头寸。在以下任何一种情况发生后佣金或手续费变化即生效：登在老虎网站上或以电子邮件或其它书面通知发送给客户。老虎应以其网站上载明的利率与条款向客户支付利息收入，向客户收取借项利息。客户资金只有在交易结算后方可拨付。资金存入与支取条款（包括持有时间）在老虎网站上具体规定。
22. Account Deficits 账户负结余
If a cash account incurs a deficit, margin interest rates will apply until the balance is repaid, and Tiger has the right, but not the obligation, to treat the account as a margin account. Customer agrees to pay reasonable costs of collection for any unpaid Customer deficit, including attorneys' and collection agent fees.
如一个现金账户出现负值，将对差额实行保证金利率直到偿还为止，老虎有权但无义务将此账户作为保证金账户对待。客户同意对任何未支付的客户帐户不足资金支付合理的收款成本，包括律师费与收款代理人手续费。
23. Risks of Foreign Markets; After Hours Trading 外国市场的风险；收盘后交易时段的风险
Customer acknowledges that trading securities, options, futures, currencies, or any product on a foreign market is speculative and involves high risk. There also are special risks of trading outside ordinary market hours, including risk of lower liquidity, higher volatility, changing prices, un-linked markets, news announcements affecting prices, and wider spreads. Customer represents that Customer is knowledgeable and able to assume these risks.
客户确认在外国市场上进行证券、期权、期货、货币或任何产品的交易具有投机性，存在很高的风险。还存在正常交易时间以外的特殊交易风险，包括低流动性风险、高波动率的风险，价格变化风险、未能连接的市场，影响价格的新闻公告与更大差价。客户表示其充分了解上述风险，且有能力承担上述风险。
24. Knowledge of Securities, Warrants and Options; Corporate Actions 证券、权证与期权的知识；公司活动
Customer acknowledges Customer's responsibility for knowing the terms of any securities, options, warrants or other products in Customer's account, including upcoming corporate actions (e.g., tender offers, reorganizations, stock splits, etc.). Tiger has no obligation to notify Customer of deadlines or required actions or dates of meetings, nor is Tiger obligated to take any action without specific written instructions sent by Customer to Tiger electronically through the Tiger website.
客户确认客户有责任了解客户账户内任何证券、期权、权证或其它产品的条款，包括即将发生的公司活动(如股权收购要约、重组与股票分割等)。老虎无义务通知客户截止时间或所需要采取的行动或会议日期，在客户没有通过老虎网站以电子形式发出具体书面指示给老虎的情况下老虎也无义务采取任何行动。
25. Quotes, Market Information, Research and Internet Links 报价、市场信息、研究与网络连接
Quotes, news, research and information accessible through Tiger (including through links to outside websites) ("Information") may be prepared by independent Providers. The Information is the property of Tiger, the Providers or their licensors and is protected by law. Customer agrees not to reproduce, distribute, sell or commercially exploit the Information in any manner without written consent of Tiger or the Providers. Tiger reserves the right to terminate access to the Information. None of the Information constitutes a recommendation by Tiger or a solicitation to buy or sell. Neither Tiger nor the Providers guarantee accuracy, timeliness, or completeness of the Information, and Customer should consult an advisor before making investment decisions. RELIANCE ON QUOTES, DATA OR OTHER INFORMATION IS AT CUSTOMER'S OWN RISK. IN NO EVENT WILL TIGER OR THE PROVIDERS BE LIABLE FOR CONSEQUENTIAL, INCIDENTAL, SPECIAL OR INDIRECT DAMAGES ARISING FROM USE OF THE INFORMATION. THERE IS NO WARRANTY OF ANY KIND, EXPRESS OR IMPLIED, REGARDING THE INFORMATION, INCLUDING WARRANTY OF MERCHANTIBILITY, WARRANTY OF FITNESS FOR A PARTICULAR USE, OR WARRANTY OF NON-INFRINGEMENT.
通过老虎（包括通过连接到外部网站）可访问的报价、新闻、研究与信息（"信息"）可由独立的提供商编制。上述信息是老虎、提供商或其许可方的财产，受法律保护。客户同意如无老虎或提供商的书面同意不会复制、分发、出售或以任何方式将信息用于商业目的。老虎保有终止访问上述信息的权利。信息中的任何内容均不可视为老虎的推荐或买卖诱导。老虎与提供商均不保证本信息的准确性、及时性或完整性，客户在做出投资决策前应向顾问进行咨询。客户信赖报价、数据或其它信息，风险自负。在任何情况下老虎或提供商对使用上述信息所引起的偶然的、特殊的或间接的损害后果均不负有任何责任。不提供任何形式的担保，无论是与信息有关的明示还是暗含的、包括适销性担保、对一种特定的用途适应性的担保或非侵权担保。
26. License to Use Tiger Software 使用老虎软件的许可
Tiger grants Customer a non-exclusive, non-transferable license to use Tiger Software solely as provided herein. Title to Tiger Software and updates shall remain the sole property of Tiger, including all patents, copyrights and trademarks. Customer shall not sell, exchange, or transfer the Tiger Software to others. Customer shall not copy, modify, translate, decompile, reverse engineer, disassemble or reduce to a human readable form, or adapt, the Tiger Software or use it to create a derivative work, unless authorized in writing by an officer of Tiger. Tiger is entitled to immediate injunctive relief for threatened breaches of these undertakings.
老虎授权客户非排他性的、非转让性的根据本合同的规定单独使用老虎软件的许可。老虎对其软件和更新版本仍拥有独家所有权，包括所有专利、版权或商标。客户不应出售、交换或转让老虎的软件给其他人。除非获得老虎管理人员的书面授权，否则客户不应拷贝、修改、翻译、解码、反向工程、反汇编或减化为人们可读取的形式，或改编老虎软件或使用老虎软件创建一个衍生的项目。老虎有权向法庭申请对违反上述承诺的威胁发布禁制令。
27. LIMITATION OF LIABILITY AND LIQUIDATED DAMAGES PROVISION 有限责任与违约赔偿金规定
CUSTOMER ACCEPTS THE TIGER SYSTEM "AS IS", AND WITHOUT WARRANTIES, EXPRESS OR IMPLIED, INCLUDING, BUT NOT LIMITED TO, THE IMPLIED WARRANTIES OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR USE, PURPOSE OR APPLICATION; TIMELINESS; FREEDOM FROM INTERRUPTION; OR ANY IMPLIED WARRANTIES ARISING FROM TRADE USAGE, COURSE OF DEALING OR COURSE OF PERFORMANCE. UNDER NO CIRCUMSTANCES SHALL TIGER BE LIABLE FOR ANY PUNITIVE, INDIRECT, INCIDENTAL, SPECIAL OR CONSEQUENTIAL LOSS OR DAMAGES, INCLUDING LOSS OF BUSINESS, PROFITS OR GOODWILL. TIGER SHALL NOT BE LIABLE TO CUSTOMER BY REASON OF DELAYS OR INTERRUPTIONS OF SERVICE OR TRANSMISSIONS, OR FAILURES OF PERFORMANCE OF THE TIGER SYSTEM, REGARDLESS OF CAUSE, INCLUDING, BUT NOT LIMITED TO, THOSE CAUSED BY HARDWARE OR SOFTWARE MALFUNCTION; GOVERNMENTAL, EXCHANGE OR OTHER REGULATORY ACTION; ACTS OF GOD; WAR, TERRORISM, OR TIGER'S INTENTIONAL ACTS. CUSTOMER RECOGNIZES THAT THERE MAY BE DELAYS OR INTERRUPTIONS IN THE USE OF THE TIGER SYSTEM, INCLUDING, FOR EXAMPLE, THOSE CAUSED INTENTIONALLY BY TIGER FOR PURPOSES OF SERVICING THE TIGER SYSTEM. IN NO EVENT SHALL TIGER'S LIABILITY, REGARDLESS OF THE FORM OF ACTION AND DAMAGES SUFFERED BY CUSTOMER, EXCEED THE HIGHEST TOTAL MONTHLY COMMISSIONS PAID BY CUSTOMER TO TIGER OVER THE 6 MONTHS PRIOR TO ANY INCIDENT.
客户接受老虎系统"现有的"状况，无明示或暗示的担保、包括但不限于对适销性或某特定用途的适应性的担保、应用目的的担保、及时性、免于中断的担保，或任何暗含的由交易使用、交易过程或履行过程所引起的担保。在任何情况下，老虎对任何惩罚性的、间接的、偶然的、特殊的或连带的损失或损害均不承担责任，包括业务、收益或商誉的损失。老虎对由于服务的延迟、中断或传送、或操作老虎的系统故障不承担责任，无论是何原因，包括但不限于那些由硬件或软件故障所引起的故障；政府的、交易所的或其它监管机构的行动所引起的；天灾、战争、恐怖主义或老虎的有意行动。客户确认在使用老虎系统时可能出现延迟或中断情况，例如包括那些由老虎有意为维护其系统所导致的上述问题在任何情况下，无论采取何种行动，无论客户遭受何种损失，老虎的责任不应超过发生的任何事故前六个月内由客户支付给老虎的最高的月佣金总额。
28. Customer Must Maintain Alternative Trading Arrangements 客户必须保持可选择的交易安排
Computer-based systems such as those used by Tiger are inherently vulnerable to disruption, delay or failure. CUSTOMER MUST MAINTAIN ALTERNATIVE TRADING ARRANGEMENTS IN ADDITION TO CUSTOMER'S TIGER ACCOUNT FOR EXECUTION OF CUSTOMER'S ORDERS IN THE EVENT THAT THE TIGER SYSTEM IS UNAVAILABLE. By signing this Agreement, Customer represents that Customer maintains alternative trading arrangements.
基于计算机的系统，例如老虎使用的系统，从本质上说容易中断、延迟或发生故障。 除了客户的老虎账户外，客户必须做出可选择的交易安排以便在老虎系统无法使用时执行客户的定单。通过签署本合同，客户表示其已做出可选择的交易安排。
29.Tiger and Its Affiliates 老虎及其分支机构
A copy of Tiger's audited financial statements shall be posted on the Tiger website and, upon request, mailed to Customer. Customers shall rely only on the financial condition of Tiger, and not on its affiliates, which are not liable for Tiger's acts and omissions.
经过审计的老虎财务报表应公布在老虎的网站上，并可在客户要求下邮寄给客户。客户应仅依据老虎而非其分支机构的财务状况，分支机构对老虎的行为与失误不负有责任。
30. DISCLOSURE STATEMENT 披露声明
THIS STATEMENT IS FURNISHED TO YOU BECAUSE RULE 190.10(c) OF THE COMMODITY FUTURES TRADING COMMISSION REQUIRES IT FOR REASONS OF FAIR NOTICE UNRELATED TO TIGER'S CURRENT FINANCIAL CONDITION: (A) YOU SHOULD KNOW THAT IN THE UNLIKELY EVENT OF THIS COMPANY'S BANKRUPTCY, PROPERTY, INCLUDING PROPERTY SPECIFICALLY TRACEABLE TO YOU, WILL BE RETURNED, TRANSFERRED OR DISTRIBUTED TO YOU, OR ON YOUR BEHALF, ONLY TO THE EXTENT OF YOUR PRO RATA SHARE OF ALL PROPERTY AVAILABLE FOR DISTRIBUTION TO CUSTOMERS; (B) NOTICE CONCERNING THE TERMS FOR THE RETURN OF SPECIFICALLY IDENTIFIABLE PROPERTY WILL BE MADE BY PUBLICATION IN A NEWSPAPER OF GENERAL CIRCULATION. (C) THE COMMISSION'S REGULATIONS CONCERNING BANKRUPTCIES OF COMMODITY BROKERS CAN BE FOUND AT TITLE 17 OF THE CODE OF FEDERAL REGULATIONS PART 190.
鉴于商品期货贸易委员会规则190.10(c)要求的与老虎当前的财政状况无关的公平通知原因，特对客户发表以下声明：(A)您应当知悉万一本公司破产，资产（包括客户可明确追查的资产）将被归还、转移或分配给您，或您的代表，按客户资产的比例分摊可分配的资产数额；(B)对于归还明确可识别资产的通知将通过一般流通的报纸发行公告。(C)委员会关于商品经纪人破产的监管条例列于联邦法规条例190第17法令。
31. Consent To Accept Electronic Records And Communications 同意接受电子记录与通信联系
Tiger provides electronic trade confirmations, account statements, tax information and other Customer records and communications (collectively, "Records and Communications") in electronic form. Electronic Records and Communications may be sent to Customer's Trader Workstation or to Customer's e-mail address, or for security purposes may be posted on the Tiger website, with a notification sent to customer to login and retrieve the Communication. By entering into this Agreement, Customer consents to the receipt of electronic Records and Communications. Such consent will apply on an ongoing basis and for every tax year unless withdrawn by Customer. Customer may withdraw such consent at any time by providing electronic notice to Tiger through the Tiger website. If Customer withdraws such consent, Tiger will provide required tax documents in paper form upon request by telephone or via the Tiger website. However, Tiger reserves the right to require Customer to close Customer's account.
老虎通过电子形式提供电子交易确认书、账单、税务信息与其它客户记录与通信联系，(以下简称"电子记录与通信联系")。电子记录与通信联系可发送到客户的交易平台或发送到客户的电子邮件地址或为了安全起见公布在老虎的网站上，同时通知客户登录并检索上述通信联系。通过签署本合同，客户同意接收电子记录与通信联系。除非客户收回其同意，否则上述同意持续适用，并适用于每个税务年度。客户可在任何时候通过老虎的网站以电子方式通知老虎收回其同意。如果客户收回其同意，则当客户通过电话或通过老虎网站要求时，老虎应提供纸质形式的税务文件。但是，老虎保留要求客户关闭其账户的权利。
In order to trade using the Tiger Trader Workstation, and to receive Records and Communications through the Tiger Trader Workstation, there are certain system hardware and software requirements, which are described on the Tiger website at www.tigerbrokers.com. Since these requirements may change, Customer must periodically refer to the Tiger website for current system requirements. To receive electronic mail from Tiger, Customer is responsible for maintaining a valid Internet e-mail address and software allowing customer to read, send and receive e-mail. Customer must notify Tiger immediately of a change in Customer's e-mail address by using those procedures to change a Customer e-mail address that may be available on the Tiger website.
为了使用老虎的交易平台进行交易，和通过交易平台接收电子记录与通信联系，对系统软件和硬件有一些要求，这些要求在老虎的网站 www.tigerbrokers.com 进行说明。由于上述要求可能发生变化，客户必须定期访问老虎网站，了解当前的系统要求。要想收到老虎的电子邮件，客户负责维护一个有效的因特网电子邮件地址和软件，以允许客户阅读、发送、接收电子邮件。当客户邮件地址变化时，客户必须通过这些程序立刻通知老虎，以便更改老虎网站上的客户邮件地址。
32. Miscellaneous 其他
A. This Agreement is governed by the laws of the State of Connecticut, without giving effect to conflict of laws provisions. Courts of Connecticut have exclusive jurisdiction over disputes relating to this Agreement, except when arbitration is provided. IN ALL JUDICIAL ACTIONS, ARBITRATIONS, OR DISPUTE RESOLUTION METHODS, THE PARTIES WAIVE ANY RIGHT TO PUNITIVE DAMAGES.
A. 本合同受美国康涅狄格州法律的管辖，与法律规定相抵触的条款不予生效。康涅狄格州的法院对与本合同有关的争议具有专有管辖权。除了有仲裁规定时例外。在所有司法行为、仲裁或争议的解决方法中，合同各方放弃任何的损害性赔偿的权利。
B. Customer agrees to the provision of this Agreement in English and represents that Customer understands its terms and conditions. This Agreement contains the entire agreement between the parties, who have made no other representations or warranties. If any provision of this Agreement is unenforceable, it shall not invalidate other provisions. Failure of Tiger to enforce any term or condition of this Agreement is not a waiver of the term/condition.
B. 客户同意本合同的规定以英文书写且表示客户理解本合同的条款。本合同包括合同双方之间的完整合同，除此以外，合同双方不做出其它陈述或担保。如本合同中的任何规定不可执行，不应影响其它规定的效力。老虎未能履行本合同的任何条款不可视为其对合同条款的放弃。
C. Customer consents to recording of all telephone conversations. Customer acknowledges the Tiger Privacy Statement and consents to collection/use of Customer information as described therein.
C. 客户同意录音所有电话内容。客户确认老虎隐私声明且同意根据其规定收集／使用客户信息。
D. Customer may not assign or transfer any rights or obligations hereunder without the prior written consent of Tiger. Upon notice to Customer Tiger may assign this Agreement to another broker-dealer or futures commission merchant. This Agreement shall inure to the benefit of Tiger's successors and assigns. Tiger may terminate this Agreement or its services to Customer at any time. Customer may close its account upon notice to Tiger electronically through the Tiger website, but only after all positions are closed and all other requirements specified on the Tiger website regarding account closure are satisfied.
D. 如无老虎的事先书面同意，客户不可出让或转让本合同下的任何权利或义务。在向客户发出通知后，老虎可将本合同转让给另一经纪人－交易商或期货经纪商。本合同应保证老虎继承者或受让人的利益。老虎可在任何时候终止本合同或向客户提供服务。客户可通过老虎的网站以电子方式通知老虎后关闭其账户，但只有在所有仓位清仓后，并满足老虎网站上规定的关闭账户的所有其它要求。
E. Customer authorizes Tiger, directly or through third parties, to make any inquiries that Tiger considers necessary to conduct business with Customer. This may include ordering a credit report and performing other credit checks in the event of any default or breach of the obligations herein by Customer, or verifying the information Customer provides against third party databases. Any information obtained is maintained in accordance with the Tiger Privacy Statement.
E. 客户直接或经第三方授权老虎就其认为其在与客户进行商业活动时所必须的信息询问客户。询问可包括在客户发生任何违约或违法本协议义务时而索取的信用报告及其它信用检查，或核对客户向第三方数据库提供的信息。老虎获取的信息将遵循老虎集团隐私声明保护。
33. Mandatory Arbitration 强制性仲裁
A. This agreement contains a pre-dispute arbitration clause. By signing an arbitration agreement the parties agree as follows
A. 该合同包含预争议仲裁条款。签署仲裁协议代表各方同意以下条款
ALL PARTIES TO THIS AGREEMENT ARE GIVING UP THE RIGHT TO SUE EACH OTHER IN COURT, INCLUDING THE RIGHT TO A TRIAL BY JURY, EXCEPT AS PROVIDED BY THE RULES OF THE ARBITRATION FORUM IN WHICH A CLAIM IS FILED.
本合同的所有各方均放弃将另一方起诉至法庭的权利，包括由陪审团进行审判的权利，除非接受索赔的仲裁机构另有规定。
ARBITRATION AWARDS ARE GENERALLY FINAL AND BINDING; A PARTY'S ABILITY TO HAVE A COURT REVERSE OR MODIFY AN ARBITRATION AWARD IS VERY LIMITED.
仲裁判决一般来说是终局且必须遵守的；一方让法庭推翻或修改仲裁判决的能力是非常有限的。
THE ABILITY OF THE PARTIES TO OBTAIN DOCUMENTS, WITNESS STATEMENTS AND OTHER DISCOVERY IS GENERALLY MORE LIMITED IN ARBITRATION THAN IN COURT PROCEEDINGS.
合同各方在仲裁中获得文件、证人证言与其它证据调查程序的能力通常比在法庭审理程序中更为有限。
THE ARBITRATORS DO NOT HAVE TO EXPLAIN THE REASON(S) FOR THEIR AWARD.
仲裁人员不必解释做出仲裁裁决的原因。
UNLESS, IN AN ELIGIBLE CASE, A JOINT REQUEST FOR AN EXPLAINED DECISION HAS BEEN SUBMITTED BY ALL PARTIES TO THE PANEL AT LEAST 20 DAYS PRIOR TO THE FIRST SCHEDULED HEARING DATE.
除非具有合理的解释，各方至少在首次听证日前不少于20天向陪审员小组提交联名请求，要求审判决定附带解释。
THE PANEL OF ARBITRATORS WILL TYPICALLY INCLUDE A MINORITY OF ARBITRATORS WHO WERE OR ARE AFFILIATED WITH THE SECURITIES INDUSTRY.
仲裁团内通常会包括少数以前或现在与证券行业有关的仲裁员。
THE RULES OF SOME ARBITRATION FORUMS MAY IMPOSE TIME LIMITS FOR BRINGING A CLAIM IN ARBITRATION.
某些仲裁委员会的仲裁规则可能对仲裁中的权利要求施加时间限制。
IN SOME CASES, A CLAIM THAT IS INELIGIBLE FOR ARBITRATION MAY BE BROUGHT IN COURT.
在一些案例中，对于不适合于仲裁的权利要求可向法院提起诉讼。
THE RULES OF THE ARBITRATION FORUM IN WHICH THE CLAIM IS FILED, AND ANY AMENDMENTS THERETO, SHALL BE INCORPORATED INTO THIS AGREEMENT.
接受索赔的仲裁委员会的规则和任何相关修订应纳入本合同。
B.Customer agrees that any controversy, dispute, claim, or grievance between Tiger, any Tiger affiliate or any of their shareholders, officers, directors employees, associates, or agents, on the one hand, and Customer or, if applicable, Customer's shareholders, officers, directors employees, associates, or agents on the other hand, arising out of, or relating to, this Agreement, or any account(s) established hereunder in which securities may be traded; any transactions therein; any transactions between Tiger and Customer; any provision of the Customer Agreement or any other agreement between Tiger and Customer; or any breach of such transactions or agreements, shall be resolved by arbitration, in accordance with the rules then prevailing of any one of the following: (a) The American Arbitration Association; (b) The Financial Industry Regulatory Authority; or (c) any other exchange of which Tiger is a member, as the true claimant-in-interest may elect. If Customer is the claimant-in-interest and has not selected an arbitration forum within ten days of providing notice of Customer's intent to arbitrate, Tiger shall select the forum. The award of the arbitrators, or a majority of them, shall be final, and judgment upon the award rendered may be entered in any court, state or federal, having jurisdiction.
B.客户同意，当作为一方的老虎、任何老虎分支机构或其任何股东、官员、董事雇员、伙伴、或代理与作为另一方的客户、或如适用，其股东、官员、董事雇员、伙伴、或代理之间因为或关于本合同或根据本合同所设立的用于交易证券的任何帐户（证券交易帐户）；其中的任何交易；老虎与客户间完成的任何交易；客户合同或老虎与客户间签订的任何其他合同的任何规定；或违反任何交易或合同等而发生任何争议、纠纷、索赔或不满时，这些争议、纠纷、索赔或不满应通过下列任何其中一家仲裁组织的主要规定仲裁解决：(a) 美国仲裁协会；(b) 美国金融业监管局；或(c)老虎为其成员的任何其它交易所，由具体的权利要求请求人选择决定。如客户为权利要求请求人，但客户在其发出仲裁意向通知后十天内并未选择任何仲裁庭，则老虎应选择仲裁庭。仲裁员或多数仲裁员做出的裁决应为终局的，仲裁做出的判决可记录在具有管辖权的任何州或联邦法庭。
C. No person shall bring a putative or certified class action to arbitration, nor seek to enforce any pre-dispute arbitration agreement against any person who has initiated in court a putative class action; or who is a member of a putative class who has not opted out of the class with respect to any claims encompassed by the putative class action until:
C.任何人均不得将一项法院可能判决或已经判决的集体诉讼提交仲裁，也不得对已认定向法院提起集体诉讼的人士，或已经是集体诉讼中一员且未因集体诉讼所包括的任何索赔而退出的人士，强迫执行预争议仲裁合同，除非：
the class certification is denied; or
集体诉讼被拒绝，或
the class is decertified; or
该集体诉讼的法院受理被取消；或
the customer is excluded from the class by the court. Such forbearance to enforce an agreement to arbitrate shall not constitute a waiver of any rights under this Agreement except to the extent stated herein.
法院已将该客户排除在该集体诉讼之外。除于此说明外，强制以仲裁方式解决合同纠纷的行为并不构成放弃本合同内的任何权利。
THIS AGREEMENT CONTAINS A PRE-DISPUTE ARBITRATION CLAUSE IN PARAGRAPH 33. BY SIGNING THIS AGREEMENT I ACKNOWLEDGE THAT THIS AGREEMENT CONTAINS A PRE-DISPUTE ARBITRATION CLAUSE AND THAT I HAVE RECEIVED, READ AND UNDERSTOOD THE TERMS THEREOF.
本合同在第33段中包含一条预争议仲裁条款。签署合同表示本人知晓合同中包含一条预争议仲裁条款，且本人已收到、阅读并理解上述条款。
4.W-8BEN 表格
https://www.tigerbrokers.com/static/images/account/w-8ben.jpg
