Since eToro Australia is liable to you as principal on the contract eToro

Since etoro australia is liable to you as principal

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Since eToro Australia is liable to you as principal on the contract, eToro Australia could be exposed to the insolvency of its Hedge Counterparty or other defaults which affect the Hedge Counterparty. The following information is applicable with respect to eToro Australia’s the main affiliated Hedge Counter party as at the date of this PDS. Please be aware that eToro Australia does not make any representation that it will hedge, or that it will hedge only with the following affiliated Hedge Counterparty. Hedge Counterparty: eToro (Europe) Limited Further information: eToro (Europe) Limited is a company incorporated in Cyprus (registered number HE200585). It is a regulated financial services company and investment firm. It is regulated by the Cyprus Securities and Exchange Commission (licensee number CIF 109/10) and operates in accordance with Markets in Financial Instruments Directive (MiFID) of the European Union. You should note that: eToro (Europe) Ltd has not been involved in the preparation of this PDS nor has authorised any statement made in this PDS relating to it. eToro (Europe) Ltd has no contractual or other legal relationship with you as holder of the CFDs. eToro (Europe) Ltd is not liable to you and you have no legal recourse against eToro (Europe) Ltd (because eToro Australia acts as principal to you and not as agent) nor can you require eToro Australia to act against eToro (Europe) Ltd. eToro Australia gives no assurance as to the solvency or performance of any Hedge Counterparty. The regulation of a Hedge Counterparty is no assurance of the credit quality of the Hedge Counterparty or of any regulated or voluntary scheme for meeting the claims of creditors of the Hedge Counterparty. For example, although a Hedge Counterparty may be regulated by Cyprus financial services law that gives no assurance that the Hedge Counterparty has good credit quality or it will perform its obligations to eToro Australia. The credit quality of the Hedge Counterparty can change quickly. eToro Australia may not be able to make assessments of the credit quality of its Hedge Counterparty at the time the changes occur which it can disclose. Reports by independent credit rating agencies may not be available because of their lack of consent or because they are not licensed to allow such reports to be cited in the PDS given to retail clients. eToro Australia may use other Hedge Counterparties and may do so without prior notice to you of that. For example, in times of exceptional market difficulties or communications technology problems, eToro Australia may decide it is prudent to hedge with other hedge counterparties other than with eToro (Europe) Ltd. If eToro Australia becomes aware that material information about the Hedge Counterparty changes or a significant matter later changes, eToro Australia will issue a supplementary product disclosure statement, or a new product disclosure statement. If the new information is not materially adverse to you, eToro
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  • Spring '17
  • Sui
  • Financial Markets, Foreign exchange market, eToro Australia, eToro Australia PDS

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