Dis document na part of di agreement between you and Deriv, and you suppose read am together wit our General Terms of Use for clients (di “General Terms”). Any defined terms wey dem use for dis additional terms go get di meaning wey dem give dem for di General Terms.
1. Introduction
1.1. Dis additional terms dey apply to all clients wey get account wit Deriv (Mauritius) Ltd.
1.2. If any inconsistency or difference dey between dis additional terms and/or any oda documents wey form part of di Agreement, dis additional terms go take priority for your account wit Deriv (Mauritius) Ltd.
1.3. Deriv (Mauritius) Ltd get licence as an Investment Dealer (Full Service Dealer, excluding Underwriting) pursuant to section 29 of the Securities Act 2005, Rule 4 of the Securities (Licensing) Rules 2007 and the Financial Services (Consolidated Licensing and Fees) Rules 2008. Financial Services Commission, Mauritius authorise and regulate am.
2. Complaints
2.1. If you wan file complaint about our Services, you fit send di details wey concern your complaint give us for complaints@deriv.com. We go acknowledge say we don receive your complaint through email, investigate your complaint, and aim to send you final response within fifteen (15) business days from di date wey we receive di complaint. For more information, make you read our Complaints Policy.
2.2. Financial Commission
2.2.1. If we neva resolve your complaint as e satisfy you, you fit escalate your complaint go meet di Financial Commission. For dat case, your complaint go pass through di following procedure:
2.2.1.1. First phase
2.2.1.1.1. You fit file complaint with di Financial Commission only if our decision no satisfy you, or if we no make di decision within 15 business days.
2.2.1.1.2. You fit file complaint with di Financial Commission within 45 days afta di incident.
2.2.1.1.3. Di Financial Commission get 5 days to confirm say dem don receive your complaint and 14 days to answer di complaint through dia Internal Dispute Resolution (IDR) procedure.
2.2.1.2. Investigation phase
2.2.1.2.1. Di Financial Commission go investigate whether di complaint valid within 5 business days.
2.2.1.2.2. Di Head of di Dispute Resolution Committee ("DRC") go contact both you and us within 5 business days to collect all di necessary information and check if possibility dey to settle di complaint during di investigation phase.
2.2.1.2.3. If dem no fit find opportunity to settle di matter, di complaint go move go determination phase make DRC handle am.
2.2.1.3. Determination phase
2.2.1.3.1. DRC go make decision on di complaint (make you note say DRC no mention any timeframe for wen dem go announce dia decision).
2.2.1.3.2. DRC fit ask you or us for additional information, and di pesin wey dem ask must provide di information wey dem request within 7 days.
2.2.1.4. Decisions and orders
2.2.1.4.1. Di decisions wey DRC make dey binding on us. DRC decisions dey binding on you only if you accept dem.
2.2.1.4.2. If you agree wit DRC decision, you go need accept am within 14 days. If you no respond to DRC decision within 14 days, dem go consider di complaint closed.
2.2.1.4.3. We must pay di settlement within 28 days afta dem don reach di decision.
2.2.1.4.4. If di decision dey in our favour, you must give us a release document within 7 days afta dem make di decision, and dem go consider di complaint as closed.
2.3. Financial Services Commission, Mauritius
2.3.1. If you still no dey satisfied afta you don finish both our internal complaints process and di Financial Commission dispute resolution procedure, you fit escalate your complaint to di Financial Services Commission, Mauritius (di “FSC”) as your final option.
2.3.2. To submit a complaint to di FSC, you must log on to di FSC online complaints portal for dis address: https://complaints.fscmauritius.org/. Di FSC dey emphasise say all di information wey you provide must be genuine, accurate and complete. Dem no go consider submissions wey use fake contact details or wey dey anonymous. Also, dem no go accept complaints wey you submit by telephone, email, through di contact section of di FSC website, in person, or through alternative communication channels.
2.3.3. Di FSC online complaints portal dey accept complaints about a regulated entity wey hold a Global Business Licence from FSC Mauritius.
2.3.4. Your complaint must get relevant documents to support am and you must submit am for either English or French. Since dem dey record and assess all complaints wey dem receive through di Portal according to di FSC im established procedures, you must make sure say all di information wey you provide na genuine, correct, and complete.
3. How we dey execute order
3.1. As we dey provide our Services, we fit execute orders for clients or deal wit our clients on our own account.
3.2. If we execute orders for clients, we dey deal as principal wit our client and, at di same time and under di same terms, enta into a transaction as principal wit a counterparty (usually a liquidity provider). Dis mean say we place ourselves between a buyer and a seller, so we no dey make any profit or loss apart from wetin we fit don disclose before. If we place a client order wit a liquidity provider, na still our responsibility to get best execution for di client on a consistent basis. We dey achieve dis through di selection and continuous monitoring of liquidity providers.
3.3. If we dey deal on our own account, dis mean say we also dey deal as principal wit our client, but we no dey enta into any further transaction wit another counterparty. To assess whether di duty of best execution dey apply for dis situation, we dey consider di following factors:
3.3.1. Whether Deriv na di one wey initiate di transaction wit di client (for which case e dey more likely say di client dey rely on Deriv to protect dia interests), or whether na di client approach Deriv first (for which case e dey less likely say dis reliance go dey);
3.3.2. Questions about market practice and whether e dey legitimate for clients to rely on Deriv;
3.3.3. Di transparency of a market: clients dey more likely to rely on Deriv for pricing for markets wia clients no get easy access to prices; and
3.3.4. Di information wey Deriv provide about our services and di terms of di agreement between Deriv and di client.
4. Requirements for regulatory reporting
4.1. As part of di regulatory obligations of Deriv (Mauritius) Ltd, we go send you a statement of account every month wey summarise all executed transactions inside your Mauritius MT5 account. As you maintain an account wit us, you dey give your consent to receive dese monthly statements through di email address wey dem register for your account profile.
