all exercises of contractual discretions give rise to a reviewable decision based upon capriciousness, irrationality or similar criteria. The court noted that "in the end" the claimant's expert witness did "not really" dispute that there had been price latency trading. Transactions that rely on price latency opportunities may be revoked, without prior notice. Citing Braganza v BP Shipping (2015 the court noted that if the defendant had not been obliged under the contract to act fairly in determining whether there had been a manifest error, there would in any event have been a duty to conduct the determination. The court held that the broker's right to revoke was not subject. It is important to submit expert evidence which is on point. The Court found that the claimant's trades could not be described to be a manifest error by reference to price the DD had operated, with prices changing relatively "slowly as intended. Clause.1 read as follows: " a Manifest Error means a manifest or obvious mi" by the Company or any Market, exchange price providing bank, information source, commentator or official on whom the Company reasonably relies When determining whether a situation amounts to a Manifest.
Shurbanova v Forex Capital Markets Limited Shurbanova v fxcm: Farhaz Khan LMA Quarterly Briefing Q3 2017: Daniela Shurbanova v Forex Capital Markets Ltd: QBD Court finds revocation of trades was justified
The claimant argued that the revocation of the trades was in breach of contract. The defendant's discretion under Clause.1 to revoke the contract for abusive trading was not subject to a Braganza duty. under the contract the claimant also agreed: to act as principal and not as another person's agent or representative (Clause.1(g and to provide information to the defendant (whether in the account opening process or otherwise) which was true, accurate and not misleading in any. The Company reserves the right to make the necessary corrections or adjustments on the Account involved without prior notice. The court also accepted the evidence of the defendant's expert that another hallmark of abusive trading was the placing of many orders at smaller amounts rather than one large order, and found that a combination of many small orders placed within an extremely short time. Parties, key terms of contract, the world best forex system cause of dispute, issues. The materials contained on this website are for general information purposes only and are subject to the disclaimer. The RPC website can be accessed. Key terms of contract, the defendant's terms of business constituted the contract between the parties. Any dispute arising from such"ng or execution errors will be resolved by the Company in its sole and absolute discretion.".
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