Client Money Protection

At Saxo Capital Markets UK Ltd ("Saxo") the safety and security of our clients' money and assets is of the utmost importance.

Saxo is a registered company in England & Wales. Saxo is regulated and authorised by the UK Financial Conduct Authority (“FCA”). You can telephone the FCA Consumer Help Line on 0800 111 6768 to ask about our authorisations or other queries. Alternatively, you may write to the FCA at the Financial Conduct Authority, 12 Endeavour Square, London E20 1JN or you can visit www.fca.org.uk.

In accordance with the FCA Client Money and Assets rules, all client money (including cash balances, unrealised profits and funds used as margin collateral) received by Saxo are held in trust in one or more segregated bank accounts. Client assets are held in trust in one or more segregated custodian accounts set up specifically for our clients. Consequently client money and assets are held separately from Saxo’s own money and assets and cannot be used by Saxo in the course of its day-to-day business operations. In the unlikely event of a default by Saxo, clients will have their money and assets returned to them directly rather than become unsecured creditors of the firm. To ensure that the amount of money and assets held in the client bank accounts and custodian accounts accurately reflects the account value of our segregated clients, Saxo performs comprehensive daily reconciliations and on the basis of this reconciliation processes any and all necessary bank transfers. Saxo carries out comprehensive due diligence on the banks and custodians that it intends to hold client money and assets with, not only when selecting the bank and custodians but also on an on-going basis. Banks and custodians are chosen, amongst other things, on the strength of their balance sheet, their credit rating and risk outlook.

As required by the FCA rules, Saxo submits a monthly Client Money & Assets Return to the FCA and Saxo's client money and assets arrangements are audited by our independent auditor on an annual basis, with a copy of their report provided to the FCA.

In accordance with our General Business Terms and the Client Asset Rules, Saxo may hold your Custody Securities in custody through External Custody Providers, which in some cases could be located in overseas jurisdictions. The legal or regulatory requirements that apply to the holding of these Custody Securities may differ from those applicable in the UK. Such External Custody Providers may have a security interest, lien or right of set-off over your Custody Securities due to local law. There is a risk that the External Custody Provider may exercise its rights over and reduce the amount of your Custody Securities. In some cases, it may also not be possible under local laws for your Custody Securities to be separately identified from Custody Securities belonging to the External Custody Provider or other third parties. In the event of the insolvency of the External Custody Provider, different legal and regulatory requirements and local market practices could apply and your rights in relation to those Custody Securities may differ from the UK regulations. Saxo will not be liable for the Insolvency, acts or omissions of such External Custody Providers or third parties.

For more information on the terms used, please refer to our General Business Terms.

Financial Services Compensation Scheme (FSCS)

The FSCS is the UK's statutory fund of last resort for customers of UK authorised financial services firms. This means that the FSCS can pay compensation if a member firm, such as Saxo, is in liquidation and unable to pay client compensation claims against it, including where there is a client money shortfall. In the unlikely event there was a shortfall in the client money account, individual Saxo clients would be able to claim up to a maximum of £85,000 per person from the FSCS.

If a bank holding client money goes into liquidation the losses would be shared by all clients in proportion to their share of Saxo's overall client money position. In respect of a UK authorised bank, these losses would be covered by the FSCS up to a limit of £85,000 per person, per banking group for each individual Saxo client.

For further information you can contact the FSCS on 020 7741 4100 or at www.fscs.org.uk. You can also write to them at FSCS, 10th Floor, Beaufort House, 15 St Botolph Street, London EC3A 7QU.

If you have any further queries about the security of your funds please contact us on 020 7151 2100.