a) CFDs on securities and exchange-traded funds;
b) CFDs on indices;
c) CFDs on futures;
d) CFDs on currency pairs and precious metals;
e) CFDs on exchange-traded options.
6. The main features of CFDs offered by Ever Financial AD are:
a) the creator and distributor of CFDs that are offered for trading by Ever Financial AD is the investment intermediary itself;
b) An CFD offered for trading by Ever Financial AD is not a transferable security and is not held in a depositary institution but in an analytical account with the investment intermediary;
c) neither party physically acquires the CFD itself, nor the underlying asset on which it is based;
d) neither party is obliged to purchase, sell, deliver or physically receive the respective underlying asset of the CFD;
e) the rights and obligations of each of the parties to the CFD are solely to make or receive payments in accordance with the order submitted, as the results of the execution of the orders are reflected accordingly in its positions in assets and/or funds;
f) CFD transactions are not subject to centralized clearing.
a) enable it any time to distinguish assets held for one client from assets held for any other client, and from its own assets;
b) accurately reflect the financial instruments and funds held for clients;
c) can be used for documentary traceability (audit trail).
10. The Investment Intermediary (II) maintains analytical accounts of all financial instruments and funds of its clients. Ever Financial AD takes the necessary measures to ensure that all clients’ financial instruments can be clearly distinguished at any time from the investment intermediary’s financial instruments, through accounts held with different names in the investment intermediary’s accounting records or through equivalent measures that achieve the same level of protection.
11. Ever Financial AD does not and cannot use the financial instruments (CFDs) of its clients for its own account, for the account of its other clients or for the account of any other person.
12. Ever Financial AD does not and may not use clients’ funds on its own account except with the express consent of the client.
13. When Ever Financial AD is able to set-off, establish collateral, and other actions (including the exercise of lien) with respect to the client’s financial instruments and/or funds, the investment intermediary shall indicate in the contract and/or the General Terms and Conditions applicable thereto all relevant information relating to the rights or actions relating to clients’ assets.
14. Ever Financial AD shall not be liable to its creditors with the financial instruments and funds of its clients. Enforcement on the funds and financial instruments of clients for the purposes of covering obligations of Ever Financial AD shall not be allowed.
15. The set-off, establishment of collateral and other actions in relation to a client’s financial instruments and/or funds is invalid towards the client, as a result of which a third party acquires the right to dispose of the client’s financial instruments and/or funds for the purpose of recovering a debts that is not related to the client’s obligation or to the services provided by the client’s investment intermediary. This does not apply in cases where such actions result from the applicable law in a third country where the client’s financial instruments and/or funds are held.
16. The II shall set out in the contract and/or in the general terms and conditions applicable thereto and/or this information whether it holds the client’s funds in a third country, in accordance with the applicable legislation of which actions related to set-off, establishment of collateral and other actions with respect to a client’s financial instruments and/or funds are permitted, which will result in a third party acquiring the right to dispose of the client’s funds in order to recover a debt that is not related to the client’s obligation or the services provided by the investment intermediary to the client.
17. Ever Financial AD does not hold the financial instruments (CFDs) of the client in a third country, neither in a person other than itself nor in a country other than Bulgaria.
18. The financial instruments of a client or prospective client cannot be held on an omnibus account by Ever Financial AD or a third party. If Ever Financial AD will hold the client’s funds in such a third country, it shall specify in the contract with the client all relevant information regarding the rights or actions concerning clients’ assets.
19. When Ever Financial AD is informed of the existence of actions for offsetting, establishing collateral and other actions in respect of the client’s funds, as a result of which a third party acquires the right to dispose of the client’s financial instruments and/or funds to recover a debt that is not related to the client’s obligation or to the services provided by the client’s investment intermediary, where such actions stem from the applicable law in a third country where the client’s funds are held, the investment intermediary informs the client thereof through the durable medium stated by it or through its website, and provide the client with all relevant information regarding the rights or actions relating to clients’ assets.
20. Ever Financial AD immediately records in the contract with the client and its own accounts the collateral established or the set-off made or other actions in respect of the client’s funds in the accounts in order to ensure the clarity of the client’s funds status, including in the case of insolvency proceedings.
21. Ever Financial AD informs the client or potential client through the durable medium stated by them or through its website about the cases when that client’s funds can be held by a third party on behalf of the investment intermediary, and about the responsibility of the investment intermediary under the applicable national laws regarding any acts or omissions of the third party, as well as the consequences for the client of the eventual insolvency of the third party.
22. Ever Financial AD informs the client or potential client through the durable medium stated by them or through its website, when the accounts in which that client’s funds are held, are subject to or will be subject to the laws of a jurisdiction other than a EU Member State, and it points out that the rights of the client or potential client related to those funds may be different accordingly.
23. Ever Financial AD will not conclude contracts for securities financing transactions within the meaning of Article 3(11) of Regulation (EU) 2015/2365 of the European Parliament and of the Council of 25 November 2015 on transparency of securities financing transactions and of reuse and amending Regulation (EU) No 648/2012 with respect to the financial instruments held by it on behalf of a client, or otherwise use those financial instruments for its own account or for the account of another person or a client of the investment intermediary.
24. Ever Financial AD will not enter into title transfer financial collateral agreements with the client (retail and professional clients and eligible counterparties) in order to secure current, future, actual, contingent or prospective obligations of the client.
25. Ever Financial AD establishes the necessary organization to minimize the risk of losing or reducing the client’s financial instruments and funds or restricting or losing their rights in relation to those assets as a result of misuse, abuse, fraud, poor administration, inadequate record keeping or negligence in respect of the assets.
26. Ever Financial AD appoints an employee who is responsible for meeting the obligations of the investment intermediary related to the protection of clients’ financial instruments and funds.
-> a central bank;
-> a credit institution licensed under the Credit Institutions Act, respectively in accordance with the requirements of Directive 2013/36/EU of the European Parliament and of the Council of 26 June 2013 on access to the activity of credit institutions and the prudential supervision of credit institutions and investment firms, amending Directive 2002/87/EC and repealing Directives 2006/48/EC and 2006/49/EC;
-> a credit institution licensed in a third country;
-> a qualifying money market fund.
a) details of any financial instruments or funds held by the investment intermediary for the client at the end of the period covered by the statement;
b) the extent to which any financial instrument or funds of the client have been the subject of securities financing transactions;
c) the extent of any benefit that has accrued to the client by virtue of participation in any securities financing transactions, and the basis on which that benefit has accrued;
d) an explicit indication of assets or funds that are subject to the MiFID II rules and its implementing measures and those that are not, such as those that are the subject of a title transfer collateral agreement;
e) an explicit indication of assets that are affected by certain peculiarities with respect to ownership rights, for example which are subject to a security interest;
f) the market value or the estimated value, if not available, of the financial instruments included in the statement explicitly stating that the absence of a market price may be indicative of a lack of liquidity, and the estimated value is determined on a best effort basis.
41. In cases where the client’s portfolio contains proceeds from one or more unsettled transactions, the information referred to in subitem (a) may be based either on the date of the transaction or on the settlement date, provided that the same basis is used consistently to all such information in the statement.
42. The periodic statement of the clients’ assets is not provided when Ever Financial AD provides its clients with access to an online system meeting the criteria for a durable medium, if the latest statements of the client’s financial instruments or funds of is readily accessible by the client and the investment intermediary has evidence that the client has carried out access to that statement at least once in the relevant quarter.