FXCM福汇指令执行政策Orde r Ex ecuti on Policy(第3页——共
发布时间：2016-01-06 07:04 编辑：wankai@7788 来源:未知 浏览量:
FXCM福汇指令执行政策Orde r Ex ecuti on Policy(第3页——共5页)
交易 员平台
FXCM also offers rolling spot forex execution via a Dealing Desk execution mo del. FXCM ca n act as a dea ler on all or some currency pairs. Note however, that FXCM is the counterparty to any trades that you undertake. In this m odel FXCM’s compens ation may not be limited to our standard mark up/and or commission and our intere st maybe in direct conflict with yours. Additionally, we face market risk as a result of entering into tra des with you. FXCM may t ake steps to mitigate its risk arsing from market making more e ffectively by, at our sole discretion and at any time without previous consent transferring you r underlying account to our No Dealing Desk (NDD) execution model.
福汇还通过交易员平台执行模式提供滚动即期外汇执行。 福汇将充当所有或某些货币对的交易员。但请注意，福汇将 会作为客户所进行的任何交易的最终对手方。在这个交易执行模式中，福汇的报酬可能不仅限于我们的标准标高点子和 /或佣金以及福汇的利益可能会与客户的利益有直接冲突。此外，福汇会因为跟客户进行交易而面对市场风险。福汇可 能会采取步骤降低因做市而引致的风险，包括全权酌情随时将您的执行类别更改为无交易员平台(NDD)执行模式，以致 福汇能够更有效地管理本身的风险。
When FX CM does not act as the dealer, FXCM em ploys backup liquidity providers that will fill in during these times. Please no te that FXCM’s Dealing Des k employs fewer liquidity providers than th e NDD execution option FXCM does not guarantee that quotes, prices, or spreads will alw ays be better on one form of execution as compared to the other. Customers should cons ider many fa ctors when deciding which execution type best suits th eir needs (e. g. conflict of interest, trading style or strategy, etc).
当福汇不作为交易员时，福汇将采用后备流通量提供者以填补这些时间。请注意，福汇交易员平台所采用的流通量提供 者较无交易员平台(NDD )执行模式选项为少，不能保证其中一种执行方式的报价、价格或买卖差价将会时常优于另一种 方式。客户应在决定哪些执行模式类型最适合他们时考虑各个因素（如直接利益冲突，交易方式或策略等）。
Order execution
交易执行
FXCM shall adhere to the best exec ution requirem ents when ex ecuting client orders, or when routing them to other providers and will take steps to achieve the best result in accordan ce to its policy. When deter mining the strategy for how orders will be executed, FXCM may take in to consi deration certain factors as a ppropriate, in the context of the terms of the client order.
福汇在执行客户订单时将坚持以最佳條件執行交易 指示，或将客户订单传送到其他供应商，按照此政策采取步骤以达到 最佳的结果。在确定将如何执行订单时，福汇可能会在客户订单的条款的情况下酌情考虑多方面因素。
In the absence of a specific instruction from a client FXCM will exercise its own judgement, skill and experience, having regard to available market informatio n when deter mining the factors that are required for the purpose of providing the client with best executio n.
在没有从客户获得具体的指令时，福汇将行使自己的判断，以自己的技能和经验，及考虑到现有的市场信息下确定如何 为客户提供最佳條件執行交易指示。
To achieve the most competitive price spreads in the retail market place FXC M quotes pric es in 1/1000th of a cent (1/10th of a pip). In a v olatile market by virtue of in evitable latency in the elect ronic trading system (principally between the client’s internet access and the FXCM server) the quoted price may hav e moved before the order instruction is received. Unless the pri ce movement is significant i n which case the order may be rejected, favourable price movements (price imp rovements), and adverse price movements, will be passe d on to the client.
为了获得零售市场最具竞争性的价格点差，福汇以1000份之一美仙报价（即10份之一点）。在 波动市场里，由于电子交 易系统里不可避免的延迟（主要存在 于客户网络接 入和福汇服务 器之间），在单子指令送达之 前，报价已经 改变。除非 价格变动大以致单子被拒，否则有利 的价格变动（ 价格改善）和 不利的价格变动将会被传送给 客户。
Induce ment Disclo sure
奖励费披露
FXCM may remunerate introducer(s) of your account. Further details are availabl e on request.
福汇可以报酬奖励账户介绍人。进一步详情可应要求提供
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Dealing Desk交易 员平台
FXCM also offers rolling spot forex execution via a Dealing Desk execution mo del. FXCM ca n act as a dea ler on all or some currency pairs. Note however, that FXCM is the counterparty to any trades that you undertake. In this m odel FXCM’s compens ation may not be limited to our standard mark up/and or commission and our intere st maybe in direct conflict with yours. Additionally, we face market risk as a result of entering into tra des with you. FXCM may t ake steps to mitigate its risk arsing from market making more e ffectively by, at our sole discretion and at any time without previous consent transferring you r underlying account to our No Dealing Desk (NDD) execution model.
福汇还通过交易员平台执行模式提供滚动即期外汇执行。 福汇将充当所有或某些货币对的交易员。但请注意，福汇将 会作为客户所进行的任何交易的最终对手方。在这个交易执行模式中，福汇的报酬可能不仅限于我们的标准标高点子和 /或佣金以及福汇的利益可能会与客户的利益有直接冲突。此外，福汇会因为跟客户进行交易而面对市场风险。福汇可 能会采取步骤降低因做市而引致的风险，包括全权酌情随时将您的执行类别更改为无交易员平台(NDD)执行模式，以致 福汇能够更有效地管理本身的风险。
When FX CM does not act as the dealer, FXCM em ploys backup liquidity providers that will fill in during these times. Please no te that FXCM’s Dealing Des k employs fewer liquidity providers than th e NDD execution option FXCM does not guarantee that quotes, prices, or spreads will alw ays be better on one form of execution as compared to the other. Customers should cons ider many fa ctors when deciding which execution type best suits th eir needs (e. g. conflict of interest, trading style or strategy, etc).
当福汇不作为交易员时，福汇将采用后备流通量提供者以填补这些时间。请注意，福汇交易员平台所采用的流通量提供 者较无交易员平台(NDD )执行模式选项为少，不能保证其中一种执行方式的报价、价格或买卖差价将会时常优于另一种 方式。客户应在决定哪些执行模式类型最适合他们时考虑各个因素（如直接利益冲突，交易方式或策略等）。
Order execution
交易执行
FXCM shall adhere to the best exec ution requirem ents when ex ecuting client orders, or when routing them to other providers and will take steps to achieve the best result in accordan ce to its policy. When deter mining the strategy for how orders will be executed, FXCM may take in to consi deration certain factors as a ppropriate, in the context of the terms of the client order.
福汇在执行客户订单时将坚持以最佳條件執行交易 指示，或将客户订单传送到其他供应商，按照此政策采取步骤以达到 最佳的结果。在确定将如何执行订单时，福汇可能会在客户订单的条款的情况下酌情考虑多方面因素。
In the absence of a specific instruction from a client FXCM will exercise its own judgement, skill and experience, having regard to available market informatio n when deter mining the factors that are required for the purpose of providing the client with best executio n.
在没有从客户获得具体的指令时，福汇将行使自己的判断，以自己的技能和经验，及考虑到现有的市场信息下确定如何 为客户提供最佳條件執行交易指示。
To achieve the most competitive price spreads in the retail market place FXC M quotes pric es in 1/1000th of a cent (1/10th of a pip). In a v olatile market by virtue of in evitable latency in the elect ronic trading system (principally between the client’s internet access and the FXCM server) the quoted price may hav e moved before the order instruction is received. Unless the pri ce movement is significant i n which case the order may be rejected, favourable price movements (price imp rovements), and adverse price movements, will be passe d on to the client.
为了获得零售市场最具竞争性的价格点差，福汇以1000份之一美仙报价（即10份之一点）。在 波动市场里，由于电子交 易系统里不可避免的延迟（主要存在 于客户网络接 入和福汇服务 器之间），在单子指令送达之 前，报价已经 改变。除非 价格变动大以致单子被拒，否则有利 的价格变动（ 价格改善）和 不利的价格变动将会被传送给 客户。
Induce ment Disclo sure
奖励费披露
FXCM may remunerate introducer(s) of your account. Further details are availabl e on request.
福汇可以报酬奖励账户介绍人。进一步详情可应要求提供
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