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Online Platforms User’s Handbook

This Handbook will assist to the users of fictitious money (the “Users”) to whom Ninety Nine, as defined in the User Terms & Conditions (“us”, “our” or “we”) has been granted access to Ninety Nine’s Beta services, to get familiarized with the features, information, data and services available through the Online Platforms, among others: (i) brokerage simulator; (ii) portfolio simulator for your positions, transactions and order history; (iii) third partie’s information: market data and securities quotes, news, reports and other market general information; (iv) discover features; and (v) bank features.

Below is an in-deep description of each of them.

1. Brokerage simulator

The purpose of the brokerage simulator is to enable you to get familiarised with the brokerage services available at the Online Platforms and how the securities markets work.

When we grant you with access to the brokerage simulator, you will be awarded a certain amount of fictitious money (i.e. without legal tender, not accepted as medium of exchange or payment and without any value in the real world). You will be able to use such fictitious money to order fictitious transactions over the securities that are traded on the real securities markets and build a fictitious portfolio of securities.

Instruction and execution of orders

The fictitious transactions that you will be able to order in the brokerage simulator will be “buy” and “sell” trades. Those orders will be “market orders”. This means that the simulator will execute the orders at the stock price that is being exchanged at the market at the time the order is submitted. When “market orders” are instructed, the Online Platforms will block in your account fictitious money amounting to 100% of your fictitious order. No additional security percentage will be retained as a security margin on fictitious transactions.

All orders will be Good till cancelled orders – Which means that they can be executed at any moment until they are cancelled.

Future versions of the simulator will provide the possibility of ordering different types of orders (e.g. limit orders).

In the Online Platforms you will see the price at which the shares are being traded on the real securities markets and will be able to specify the number of shares to which your fictitious order refers. Shares of the same stock may be traded on different securities markets (and prices of the same stock may different from one market to another) and you will be able to specify on which securities markets you wish to execute the transaction. However, you will only be able to sell your fictitious shares on the same market on which you acquired them.

If you wish to buy or sell your fictitious shares while the market that you have selected is closed, your order will remain under the status “Pending” (as specified below) and the status of the order will not cannot until the market opens.

Cost of the securities transactions

The price of the shares over which you will be able to order your fictitious transactions will be the real market price at which the securities are traded on the real securities markets.

However, such price will not include:

  • brokerages fees or commissions that may be charged in the real securities markets for such transactions (either by entities of the same group of Ninety Nine or by third parties);
  • custody fees or commissions that may be charged in the real securities markets for the custody of the real securities over which you order your fictitious transactions; and
  • additional fees, costs and expenses that such transactions may have in the real securities markets, including applicable taxes and currency exchange commissions that may apply for buying/selling stock.

Possible status of orders

Fictitious orders may have the following status:

  • Pending – It means that your fictitious order has been submitted by the Online Platform(s) to the market where the stock is traded, but that it has not been executed yet. While the order remains under this status, although the order is not executed, the funds to which the fictitious order amounts will remain blocked in your account and will not be available for investment.

    Therefore, the item “Pending” will provide you with the total amount of fictitious orders that you have submitted to the Online Platform(s), that the Online Platform(s) have submitted to the relevant intermediaries so that they send them to the market where the stocks are traded, and which have not been executed yet. The amount of such orders will be blocked in your account.

  • Executed – It means that your fictitious order has been executed in the market, and therefore that (i) you have acquired the number of fictitious shares specified in your order (in the case of “buy” orders), or that (ii) you have sold the number of fictitious shares specified in your order (in the case of “sell” orders). The sale of the shares will be performed following a FIFO approach (i.e. first in, first out), which means that the shares of a relevant stock that the User first acquired, will be the first to be sold when the User orders the sale of securities of such stock.
  • Cancelled – It means that you have cancelled your fictitious order and therefore that it will not be executed. Your orders can be cancelled while there are under the status of “Pending”. If they have been “Executed” they cannot be cancelled.

You will receive notifications informing you each time you send a fictitious order to the market as well as providing you with updates on the changes of status of your fictitious orders. You will receive such notifications via email and/or via push at the Online Platforms, at your choice in the set-up options.

The brokerage simulator does not constitute any type of recommendation or investment advice. You cannot base your real investment decisions on the performance of your fictitious investments you have carried out through the brokerage simulator.

2. Portfolio simulator

By providing you with access to the Online Platforms, we will also provide you with access to the portfolio simulator.

The purpose of this portfolio simulator is that you are able to analyze the performance of your fictitious positions, both individually and as a whole, in the securities over which you ordered your fictitious trades.

The portfolio simulator:

  • will register your fictitious positions in the shares that you have fictitiously acquired as a result of your activity in the brokerage simulator;
  • will provide you with the value that such fictitious positions, according to the real price that they would have in the real securities markets as well as to its absolute and relative variation which can be positive, negative or neutral;
  • will provide you with the relative distribution of your fictitious securities portfolio. This feature will enable you to know the weighted distribution of your fictitious securities portfolio, based on the market value of the shares of each stock (number of shares of each stock per shares price of each stock);
  • will provide you with an easy access to the news related to your fictitious securities;
  • will also provide you a graph that visually aggregates the performance of such fictitious positions with the following timeframes: 1 day (1D), 1 week (1W), 1 month (1M), 3 months (3M), 1 year (1Y), All (ALL); and
  • the portfolio simulator will also provide you with a snapshot of the fictitious money that you have, according to the possible status outlined in Section 1 above, as well as the possible status of the orders under that same Section.

The portfolio simulator does not constitute any type of investment advice. You cannot base your real investment decisions on the performance of your fictitious positions in the portfolio simulator.

3. Third partie’s information

Market data and securities quotes, news, reports and other market general information.

By providing you with access to the Online Platforms, we will also provide you with access to market data and securities prices, news, reports and other market general information which will be supplied by a third-party provider, including the main financial ratios and the last corporate transactions concerning the stocks that may be acquired through the brokerage simulator. This information will be individualized according to your profile extracted from the provision of the service itself and this processing is necessary for the performance of the contract with the Online Platform.

All information will be updated on real-time streaming except for the securities quotes which will be updated in streaming on a regular basis, with a delay of not less than 15 minutes.

4. Discover

The “Discover” section of the Online Platforms includes the following functionalities:

  • Search - You can access all the markets, equities, and collections on Ninety Nine’s Online Platforms.
  • Markets – You can access in-deep information about the different international securities markets as well as detailed information on the variety of shares that compose each of them.
  • Collections – You can access lists of companies that may be of your interest. Ninety Nine will create such lists based on the suggestions of our clients. Those collections do not constitute any type of investment advice. You cannot base your real investment decisions on the previous performance of those collections.
  • Favourite share’s list – You can access a list of companies that you have decided to follow, from where you can be redirected to such companie’s official websites. At any given point of time, you will be able to unfollow any company.

5. Money

The “Money” section of the Online Platform provides you with access to the summary of your virtual money distribution. Such fictitious money may have the following status:

  • Investable – Total amount of fictitious money that each User has available to carry out fictitious transactions through the brokerage simulator. The User’s Buying Power can be defined as the sum of Cash plus Unsettled funds.
  • Invested - Market value of the fictitious shares that the User has in its fictitious portfolio and which it has acquired with the fictitious money through the brokerage simulator.
  • Unsettled -
    • Fictitious money that has not been delivered yet to the User because the settlement of the relevant fictitious transaction over securities has not been completed. Therefore, Unsettled funds cannot be used yet by the User within the Online Platforms until settlement is finalised. The average stock market settlement period is 3 days.
    • And / or, Unsettled funds is the fictitious money that is retained by Ninety Nine for security reasons when the User orders a fictitious transaction and until such transaction is executed.
  • Cash – Fictitious money available to carry out fictitious transactions through the Online Platforms, which does not depend of any kind of settlement process but that cannot be withdrawn from the Online Platform.
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