## 1. Introduction
1.1. Hija
Global Market. (the “Company”) is authorized and regulated by the Anjouan Offshore Finance
Authority as a Comoros forex firm under license No: L15817/GL and is incorporated in Comoros
under Government Notice number 005 OF 2005 with registration number 15817.
1.2. This
Policy provides you with information and details on the procedures adopted by the Company,
pursuant to and in accordance with the requirements of Directive 2014/45 of the Union of
Comoros Parliament and Council on financial markets instruments, amending Directive
2005/92/EC and Directive 2011/61, as transposed into Comoros legislation, regarding how the
Company classifies its clients into the available categories defined by applicable rules and
regulations.
1.3. According to the Comoros Securities Market Act (“the Law”), regarding
the provision of investment services, the exercise of investment activities, and the
operation of regulated markets transposed into Comoros legislation, and as stated in section
49 of the User Agreement, Hija Global Market. is required to categorize all its clients into
one of the following three categories: Retail, Professional, or Eligible
Counterparty.
1.4. Hija Global Market. currently accepts Retail clients and clients who
explicitly request to be treated as Professional clients (“Elective Professional Clients”,
“EPC”). The Company accepts both individual and corporate clients.
## 2.
Client Classification Categories
2.1. A “Retail client” is a client who is
not deemed to be a Professional client by default or an Eligible Counterparty. Retail
clients are afforded the highest level of protection under the Law.
2.2. A
“Professional client” is a client who possesses the experience, knowledge, and expertise to
make their own investment decisions and properly assess the risks incurred. Part I of the
Second Appendix of the Law provides a list of entities regarded by default as Professional
clients.
2.3. An “Eligible Counterparty” consists of certain entities deemed to be
Professional clients.
## 3. Request for
Re-classification
3.1. Any Retail client can explicitly request to be
re-classified/re-categorised and treated as a “Professional client,” thereby waiving some
protections afforded by the Law (see section 4 below).
3.2. The Company may treat any
Retail client as a Professional client provided that the relevant criteria and procedures
mentioned below are fulfilled. However, these clients are not presumed to possess market
knowledge and experience comparable to that of default Professional clients (see point 2.2
above).
3.3. Any waiver of protection afforded to such clients shall be considered
valid only if an adequate assessment of their expertise, experience, and
knowledge—undertaken by the Company—provides reasonable assurance that they are capable of
making their own investment decisions considering the nature of envisaged transactions or
services.
3.4. The Company will assess the applicant client's knowledge and experience.
During this assessment, at least two of the following criteria must be satisfied:
3.4.1
The client has carried out transactions in significant size on the relevant market at an
average frequency of 10 per quarter over the previous four quarters.
3.4.2 The size of
the client's financial instrument portfolio (including cash deposits and financial
instruments) exceeds €500,000.
3.4.3 The client has worked in the financial sector for
at least one year in a professional position requiring knowledge of envisaged transactions
or services.
3.5. A Retail client requesting to be treated as a Professional client may
waive benefits associated with Retail client conduct rules only if the following procedure
is followed:
(i) The client notifies/requests that they wish to apply for treatment as
a Professional client;
(ii) The Company provides a clear written warning regarding
protections and investor compensation rights that may be lost;
(iii) The client
explicitly confirms awareness of and consents to losing such protections.
3.6. Requests
from Retail clients to be treated as Professional clients are considered general requests
for re-categorisation for business relationships with the Company concerning all products,
transactions, and services offered by the Company. Re-categorisation for specific services,
products, or transactions is not available.
3.7. Before accepting any request for
re-categorisation from a client, the Company takes all reasonable steps to ensure that the
requesting client meets relevant requirements.
3.8. Any Retail client who has requested
re-categorisation as a Professional client may at any point request re-categorisation back
to a Retail client.
3.9. Elective Professional clients are responsible for possessing
experience comparable to default Professional clients (see point 2.2 above).
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3.10. Client Re-categorisation Requests
Clients may request
re-categorisation to an Elective Professional Client and/or seek more information about the
other categories via the Trading Platform or by contacting us through the “Contact Us” page
on our Website.
4. Protection Rights
4.1. Protection Rights
to which Retail and/or Professional clients (including Elective Professional clients) are
entitled under the Law may include, but are not limited to, the following:
4.1.1 Retail
and Elective Professional clients have a comprehensive right to receive information from the
Company regarding its investment services and financial instruments, fees and charges, and
safeguarding services for client funds.
4.1.2 The Company requests Retail and Elective
Professional clients to provide information regarding their knowledge and experience in
trading financial instruments to assess the appropriateness of the product or service
offered. Based on this assessment, the Company will advise the client on the appropriateness
of the product or service provided. For further information on the Assessment of
Appropriateness, refer to Section 6 of the User Agreement.
4.1.3 Retail and Elective
Professional clients are entitled to receive the best possible result for their orders
(“best execution”), considering factors such as price of financial instruments and costs
related to transmission/execution. Full details of our Order Execution Policy, which is part
of the User Agreement, can be found on our Website.
4.1.4 The Company provides all
required regulatory information regarding the execution of orders for Retail and Elective
Professional clients.
4.1.5 If there are material difficulties in properly executing
Retail and Elective Professional clients’ orders, the Company is obligated to inform
customers when such difficulties become known.
4.1.6 The Company must enter into a
written agreement with Retail and Elective Professional clients, outlining the essential
rights and obligations of both parties.
4.2. Protection Rights that Retail clients are
entitled to under legislation, but not Professional clients (including Elective Professional
clients), may include, but are not limited to, the following:
4.2.1 Retail clients may
be entitled to compensation under the Guarantee Fund Investor Protection Sectoral Fund.
Professional clients are not entitled to compensation under this fund. Full details of our
Investor Compensation Fund Policy, which is part of the User Agreement, can be found on our
Website in the User Agreement.
Hija Global Market. (the “Company”) is authorized and
regulated by the Anjouan Offshore Finance Authority as a Comoros forex firm under license
No: L15817/GL and is incorporated in the UNION OF COMOROS under Government Notice number 005
OF 2005 with registration number 15817.