Mubasher Capital


means the person, corporation, partnership, trustee, custodian or other entity in whose name a Trading Account is opened. The singular of Account Holder where appropriate shall include the plural;

means a legal entity that controls, is controlled by or is under common control with another legal entity, but only while that control relationship exists. To “Control” means the direct or indirect ownership or power to control more than 50% of the issued shares or other securities of an entity or of the voting rights attached to the issued shares or other securities of such entity; or the power to control, directly or indirectly, the appointment of more than 50% of any board of directors or governing body of such entity;

means all applicable laws, regulations, stock exchange or clearing rules and market conventions in the Kingdom of Bahrain and in any other jurisdiction in which MFS or one of its Affiliates or service providers is providing services under or in connection with this Agreement or in which a Security or Other Property held or traded under or in connection with this Agreement is issued, traded, listed, executed, cleared or custodied.

means, in each Country, the authority that oversees and licenses the Financial Market(s) and brokers in that Country;

means a day on which stock exchanges and banks in the Kingdom of Bahrain are open for business;

means the basic trading account MFS offers in which I make all purchases for cash settlement, without credit; for the avoidance of doubt, a Cash Account does not offer a margin trading facility;

means any responsibilities, rights, losses, damages, penalties, causes, judgments, settlements or other expenses of any kind, including, without limitation, special and punitive damages, direct, indirect, incidental, and consequential losses, administrative expenses, legal and litigation charges, auditors’ fees and expenses;

means cash, marketable Securities and/or Other Assets in the form of collateral acceptable to MFS and any Authority, as advised to me from time to time;

(i) funds necessary to pay for purchase Transactions due to settle on or after the date the Cash Balance is to be determined;

(ii) charges to my Trading Account, including electronic funds transfer and wire transfer charges; and

(iii) credit balances that are designated as collateral for my obligations. Cash Balances are not bank deposits;

mean the fees, charges and/or expenses for the Services;

(i) Stop Loss Orders,
(ii) Take Profit Orders or Limit Orders, and
(iii) Conditional Orders given by the Account Holder to MFS.
These Conditional Trading Orders are given by the Account Holder for execution on his Trading Account and have the following meanings:
Stop Loss Orders: Stop Loss Order is an order placed by the Account Holder that will result in the sale of the designated Securities and/or Other Property as soon as practicable after the price of such Securities and/or Other Property reaches a predetermined level different from the current market price.
Take Profit Orders or Limit Orders: Take Profit Order is an order placed by the Account Holder that closes a particular trade once it reaches a certain level of profit.
Conditional Orders: A Conditional Order is an order that will result in the automatic sale of designated Securities and/or Other Property only upon a specified criteria (specified by the Account Holder) being met;

means the information disclosed by one Party to the other in connection with the provision of the Services and the performance of this Agreement in whatever format or media obtained (and whether verbal or written) including, but not limited to, the existence and content of this Agreement, specifications, records, quotes, analysts’ views and research reports and the contents, information, data, computer programs, drawings, schematics, know-how, notes, models, reports and samples provided that written confidential information shall be clearly marked as confidential or proprietary and that confidential information that was disclosed orally shall be confirmed in writing as confidential or proprietary within thirty (30) Days of disclosure;

includes current and historical securities prices, quotes, news, analysts’ views and research reports and the contents, information, products, applications, services and other information incorporated and made available on the MubasherTrade Web Site at or and provided in connection with the Services;

means the natural person(s) who exercises control over the Entity, generally natural person(s) with a controlling ownership interest in the Entity. Determining a controlling ownership interest will depend on the ownership structure of the Entity and control over the Entity may be exercised by direct ownership (or shareholding) or through indirect ownership (or shareholding) of one or more intermediate Entities.  For example, Controlling Persons include any natural person that holds directly or indirectly more than 25 percent of the shares or voting rights of an Entity as a beneficial owner. If no such person exists, then any natural person that otherwise exercises control over the management of the Entity (e.g., the senior managing official of the company).

is the second participant in a buy or sell agreement of securities.

means the Kingdom of Bahrain and any other country in which (i) MFS is authorized or entitled to provide access to the Financial Markets of that country, or (ii) MFS maintains a relationship with an executing broker that is authorized and entitled to provide MFS and its customers with access to the Financial Markets of that country;

means Common Reporting Standard formulated/introduced by OECD countries in order to improve international tax transparency and reduce international tax evasion.

means a Gregorian calendar day;

means an account balance representing money owed to MFS;

means the operating manuals, user instructions, technical literature, complaints handling procedures, and other related materials supplied to the Account Holder by MFS (whether physically or by electronic means) for aiding the use of the Services, MFS Products and the System, including any part or copy thereof;

means the U.S. Foreign Account Tax Compliance Act which has been signed into law by the U.S Government on 28th March 2010.

means the website operated by MFS under the name “MubasherTrade”;

means the local stock exchange(s) or any other securities and commodities market(s) licensed by an Authority in a Country in which the Account Holder is authorized to execute sale, purchase and/or exchange Order(s) and/or such services as are connected with such business;

mean all legal or natural persons who are Account Holders or who own a legal or beneficial interest in a Trading Account;
mean the sources from which MFS obtains and receives the Contents, including, without limitation, the Financial Markets;

means trading of a company’s securities by persons in possession of material non-public information about that company;

means trading of a company’s securities by persons in possession of material non-public information about that company;

means quotations, transactions and last sale information disseminated by Information Providers in accordance with Applicable Regulations, and all information based on any such information;

means instructions to buy or sell a Security and/or Other Property at the price or prices prevailing in the Financial Market(s) at that point of time which are entered into the System by the Account Holder for execution in his Trading Account.

means the products offered by MFS or its Affiliate(s) in connection with the Services, as listed on MubasherTrade Web Site from time to time;

(i) the computer programs;
(ii) the related Documentation;
(iii) any revised and corrected versions (“Updates”) and enhanced and improved versions (“Upgrades”) of such computer programs and Documentation which MFS (and/or its Affiliates) makes available in the ordinary course of its business on the MubasherTrade Web Site; and
(iv) all copies of the foregoing, including where they are embedded in MFS Products and/or provided by MFS for or in connection with the provision of the Services;

means a Gregorian calendar month;

means an Entity that is not a Financial Institution. NFEs are then split into Passive NFEs or Active NFEs.

means a trading account maintained on behalf of the Client and in the Client’s name with MFS and in the name of MFS with the relevant exchanges. Any sub-accounts also opened under the main account will be segregated using unique code numbers, which shall be disclosed to the Client;

means a client on whose behalf an Omnibus Account is maintained with MFS and the relevant exchanges;

means one or more Market Order(s) and/or one or more Conditional Order(s). If one Order is executed in number of partial executions it is considered one Order for computation purposes;

is a decentralized market of securities not listed on an exchange where market participants trade over the telephone, facsimile or electronic network instead of a physical trading floor.

mean MFS and/or the Account Holder, as applicable;

means an NFE that is not an Active NFE and may include Entities that primarily receive passive income or primarily hold amounts of assets that produce passive income (such as dividends, interest, rents etc.), An exception to this is an Investment Entity that is not a Participating Jurisdiction Financial Institution, which is always treated as a Passive NFE.

means a non-cooperative Customer who

  • Fails to comply with reasonable requests for information necessary to determine whether the account holder is a “U.S. Person”;
  • Fails to provide the name, address and tax identification number (TIN) of each specified “U.S. person” and each substantial U.S. owner of a U.S. owned foreign entity; or
  • Fails to provide a waiver of any foreign law that would prevent a foreign financial institution from reporting information required under FATCA.
means a financial account held by one or more Reportable Persons or by a Passive Non-Financial Entity with one or more Controlling Persons being Reportable Persons.

means a jurisdiction with which an agreement is in place, pursuant to the automatic exchange of information under CRS.

means an individual or Entity resident in a Reportable Jurisdiction for tax purposes under the laws of that jurisdiction (or where their effective management is if they do not have a tax residence). The Reportable Jurisdiction Person will then be a Reportable Person unless specifically excluded from being so. In general, the specific exclusions are: a corporation the stock of which is regularly traded on one or more established securities markets and a Related Entity of theirs; a Governmental Entity; an International Organization; a Central Bank; or a Financial Institution (which will itself be subject to the rules and obligations contained in the Standard).

means a financial account maintained by:
A “U.S. person” (whether individual or entity) or by a foreign entity with U.S. ownership of more than 10% of the capital, whether directly or indirectly.

means cash, shares, stocks, derivatives (futures and options), corporate, public and government bonds, exchange-traded equities options, warrants and any other financial instruments (whether certificated or un-certificated) that are admitted to trading on a Financial Market, as well as any related contracts for the present or future delivery of such securities (or the value of which is calculated by reference to the price of such securities) and any and all rights and entitlements thereto;

mean the regulated financial services provided by MFS to the Account Holder under or in connection with this Agreement, including without limitation the opening of customer accounts, holding of customer monies, and the clearing and execution of customer trades (buy and/or sell) on Financial Market(s) or OTC, including without limitation:


(a) the acceptance, through the System, of Orders from the Account Holder for the purchase and/or sale of specified Securities and/or Other Property that MFS may make available from time to time to the type of Trading Account for which the Account Holder has been approved; and

(b) the execution and clearing of such Transactions by or through an appropriately licensed institution in the relevant Country. Pursuant to MFS’s execution and clearing agreements, Transactions may be executed and/or cleared by MFS or an Affiliate(s) of MFS, or a non-affiliated third party;

means the day on which a Transaction is to be completed in a particular Financial Market. On this day, buyers are required to pay for their purchases and/or sellers are required to deliver their securities. For equity Transactions in GCC Financial Markets, the Settlement Date generally falls between zero to three (0-3) Days after a trade is executed;

means the document as requested by the Account Holder and issued by MFS electronically or otherwise to its customers once a month and listing all Transactions entered into during the previous month on the relevant account as well as such other information as is required under Applicable Regulations or as was otherwise agreed between MFS and the Account Holder;

means the online trading platform and trader work station provided by MFS and used by Account Holders to enter Orders;
means each account at MFS established in my name alone, in my name together with other Account Holder(s) or in which I have a beneficial interest. The Cash Account is a special type of Trading Account which does not offer a credit or margin facility;

means the application form prepared by the Account Holder and submitted to MFS in order to open a Trading Account. As part of the Trading Account Opening Application, the Account Holder consents to the provisions set out in this Agreement and provides such information as may be required by MFS in connection with the opening or maintenance of the Trading Account, and any later applications submitted by me to MFS for additional services or Brokerage Account features;

means the transactions taking place in order to give effect to the Orders placed by the Account Holder, including any trading, processing, clearing and settling activities in relation thereto;


  • a person who falls under any of the following categories:


  • a U.S. citizen (sole or dual)- (wherever residing)
  • Holder of a U.S. Green Card- (wherever residing)
  • Is a resident of the U.S.
  • Is a non-U.S. citizen who has substantial presence in the U.S.
  • Is a U.S. tax payer for any other reason


  • an entity domiciled in the United States excluding the publicly traded corporations and affiliates, banks, charity organizations, Real Estate Investment Trusts(REITs), registered mutual funds, etc.);
  • Passive Non Financial Foreign Entities(NFFEs) with “substantial U.S. owners” (or, under a Model 1 IGA, Controlling Persons that are U.S. persons):


-Corporation or partnership of which one of the above owns, directly or indirectly, 10 percent or more (for substantial ownership test) or 25 percent or more (for controlling person test); and


-Investment vehicles: Any level of ownership by one of the above is substantial U.S. ownership

means United States Dollars;
means a Gregorian calendar week.