Forex Clearly Erroneous Trade Execution Policy

This Clearly Erroneous Trade Execution Policy ("Policy”) is based on our belief that unjust enrichment by one person because of another person’s mistake is not fair and honorable, and that in such unjust enrichment circumstances, the appropriate trade(s) should be considered for appropriate adjustment including cancellation.

All forex transactions that receive executions through the MBT Navigator are subject to this Policy and are generally considered for review.

Clearly Erroneous Executions
A ‘clearly erroneous transaction’ is defined as, but shall not be limited to, an execution of an order at a price substantially different from, or inconsistent with, the prevailing market for a given currency pair on a trading day (as determined in the interbank market) or, as applicable, outside the traded range for a given currency pair for a particular moment in time (as determined in the interbank market) that may be in question.

Trade Execution Quality
We have designed trade execution quality procedures that take many factors into consideration on a pair-by-pair basis over a period of time to preserve the integrity of trades that receive executions within the MBT Navigator.

Trade execution quality assurance procedures, no matter how well designed, have inherent limitations that include the likelihood of orders executed on the MBT Navigator at a different price than the interbank best bid/offer or any other foreign exchange bid/offer market. Any order executed at a different price than the interbank best bid/offer or any other foreign exchange bid/offer market shall not be deemed to be erroneous solely because it was executed at such different price, provided that the price was within the trade range in the interbank or foreign exchange market at the time the trade was executed.

Filing Deadline for Trade Execution Complaints
If a customer receives an execution on an order that was executed in error, the customer must submit a request to MB Trading Futures ("MBTF”) to review the transaction to determine if it is, in fact, an erroneous trade execution.

A trade execution complaint must be received by MBTF within one (1) hour from the time the disputed or questioned trade was executed. Such complaints may be called into MBTF's Order Desk at (866) 628-3001 or submitted via e-mail at cete@mbtrading.com; please write "Clearly Erroneous Trade Execution" in the subject line.

MBTF may, in its sole discretion, consider customer requests to review transactions received after the one (1) hour time period, depending on the facts and circumstances surrounding such request.

Information Required for Filing a Trade Execution Complaint
A trade execution complaint must include the following information:

• Currency Pair
• Execution Price(s) or range of execution prices
• Time of trade execution(s)
• Number of units executed
• Reason the review is being requested
• Account number
• Name on the account
• Contact telephone number
• Contact e-mail address

If MBTF receives a trade execution complaint that does not contain all the required information, MBTF will immediately notify the customer that the complaint is deficient. A customer’s failure to submit the required information for a trade review or within the specified time period may be rejected at the sole discretion of MBTF.

Factors Considered in Clearly Erroneous Rulings
Factors used to rule on clearly erroneous trade executions are based on the currency pair and include, but are not limited to (1) that day and historical price range; (2) price volatility; (3) relative volume; (4) new highs or lows created; (5) overall market conditions; (6) locked and/or crossed prices; (7) news releases; (8) submission time to review the execution; (9) system malfunctions or disruptions; and (10) other facts and circumstances as the situation may warrant.

Clearly Erroneous Trade Execution Rulings
In the event that MBTF determines, in its sole discretion, that a material term of a trade execution submitted by customer is clearly erroneous, MBTF may break, cancel, nullify, amend or modify the transaction. MBTF will make a final determination within three (3) hours of a customer’s request for a review of a transaction, except under exceptional circumstances. A customer will receive a written determination from MBTF.

Customers are financially responsible for any offsetting transactions entered by the customer that is based on a trade execution complaint submitted to MBTF for review or selected for review by MBTF.

MBTF may also, in its sole discretion, break, cancel, nullify, amend or modify any transaction that is clearly erroneous as defined above regardless of whether a transaction was submitted by a customer; provided, the actions are necessary for the maintenance of a fair and orderly market or the protection of all customer accounts.