Clause 2.10 Allocation and confirmation of trades
This clause is new and has been added because the new EU rules require that our terms and conditions contain certain provisions on trade allocation and confirmation.
These provisions are described in Annex 1 to the terms and conditions.
Annex 1: Allocation and confirmation
Annex 1 is new. The provisions in the annex apply only if the financial instruments you trade are not held in a custody account with Danske Bank, or if the cash funds you use for trading are not held in an account with Danske Bank. If this is the case, the following applies:
Once you have received essential information about the execution of a trade from us, you are obliged to provide us with all relevant information needed to settle the trade which we request in accordance with Article 2 and 3 of the SDR.
The deadline for sending us settlement information for a trade can be found in the annex.
If you trade financial instruments with Danske Bank as a personal customer, this has no practical significance for you. This is because you trade financial instruments held in a custody account with Danske Bank , which means that we have all the necessary information relating to the financial instruments you want to sell .
The same applies if you want to buy financial instruments; you can only buy financial instruments through us using funds held in an account with Danske Bank, because then we know that you have sufficient funds to buy the instruments before you enter into the trade.