This Website is for information purposes only and is not intended to be relied upon as a forecast, research or investment advice. The information on this Website does not constitute a recommendation, offer or solicitation to buy or sell any securities or to adopt any investment strategy. Although this material is based upon information that Mirae Asset Securities (USA) Inc. (“Mirae” hereafter) considers reliable and endeavors to keep current, Mirae does not assure that this material is accurate, current or complete, and it should not be relied upon as such. Any opinions expressed on this Website may change as subsequent conditions vary. Past performance is no guarantee of future results.
Nothing contained on this Website constitutes tax, accounting, regulatory, legal, insurance or investment advice. Neither the information, nor any opinion, contained on this Website constitutes a solicitation or offer by Mirae or its affiliates to buy or sell any securities, futures, options or other financial instruments, nor shall any such security be offered or sold to any person in any jurisdiction in which such offer, solicitation, purchase, or sale would be unlawful under the securities laws of such jurisdiction. Decisions to act or not act that may be based on information contained on this Website are the sole responsibility of the visitor.
The investments and strategies discussed in the Website may not be suitable for all investors and are not obligations of Mirae or its affiliates or guaranteed by Mirae or its affiliates. Mirae makes no representations that the contents are appropriate for use in all locations, or that the transactions, securities, products, instruments, or services discussed on this site are available or appropriate for sale or use in all jurisdictions or countries, or by all investors or counterparties. By making available information on the Website, Mirae does not represent that any investment vehicle is available or suitable for any particular user.
All investments involve risk and may lose value.
The value of your investment can go down depending upon market conditions. BEFORE ACQUIRING THE SHARES OF ANY INVESTMENT FUND BY PURCHASE OR EXCHANGE, IT IS YOUR RESPONSIBILITY TO READ THE FUND’S PROSPECTUS OR OFFERING MATERIALS.
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AFTER-HOURS TRADING RISKS
Customers should note the following risks in connection with trading outside of regular market hours:
CUSTOMERS SHOULD NOTE THE FOLLOWING RISKS IN CONNECTION WITH TRADING OUTSIDE OF REGULAR MARKET HOURS:
- Risk of Lower Liquidity. Liquidity refers to the ability of market participants to buy and sell securities. Generally, the more orders that are available in a market, the greater the liquidity. Liquidity is important because with greater liquidity it is easier for investors to buy or sell securities, and as a result, investors are more likely to pay or receive a competitive price for securities purchased or sold. There may be lower liquidity in extended hours trading as compared to regular market hours. As a result, your order may only be partially executed, or not at all.
- Risk of Higher Volatility. Volatility refers to the changes in price that securities undergo when trading. Generally, the higher the volatility of a security, the greater its price swings. There may be greater volatility in extended hours trading than in regular market hours. As a result, your order may only be partially executed, or not at all, or you may receive an inferior price in extended hours trading than you would during regular markets hours.
- Risk of Changing Prices. The prices of securities traded in extended hours trading may not reflect the prices either at the end of regular market hours, or upon the opening of the next morning. As a result, you may receive an inferior price in extended hours trading than you would during regular market hours.
- Risk of Unlinked Markets. Depending on the extended hours trading system or the time of day, the prices displayed on a particular extended hours system may not reflect the prices in other concurrently operating extended hours trading systems dealing in the same securities. Accordingly, you may receive an inferior price in one extended hours trading system than you would in another extended hours trading system.
- Risk of News Announcements. Normally, issuers make news announcements that may affect the price of their securities after regular market hours. Similarly, important financial information is frequently announced outside of regular market hours. In extended hours trading, these announcements may occur during trading, and if combined with lower liquidity and higher volatility, may cause an exaggerated and unsustainable effect on the price of a security.
- Risk of Wider Spreads. The spread refers to the difference in price between what you can buy a security for and what you can sell it for. Lower liquidity and higher volatility in extended hours trading may result in wider than normal spreads for a particular security.
- Risk of Lack of Calculation or Dissemination of Underlying Index Value or Intraday Indicative Value (“IIV”). For certain Derivative Securities Products, an updated underlying index value or IIV may not be calculated or publicly disseminated in extended trading hours. Since the underlying index value and IIV are not calculated or widely disseminated during the pre-market and post-market sessions an investor who is unable to calculate implied values for certain Derivative Securities Products in those sessions may be at a disadvantage to market professionals.
MIRAE IS A MEMBER OF THE SECURITIES INVESTOR PROTECTION CORPORATION (SIPC). THE STATUE THAT CREATED SIPC PROVIDES THAT CUSTOMERS OF A FAILED BROKERAGE FIRM RECEIVE ALL NON-NEGOTIABLE SECURITIES THAT ARE ALREADY REGISTERED IN THEIR NAMES OR IN THE PROCESS OF BEING REGISTERED. ALL OTHER SO-CALLED “STREET NAME” SECURITIES ARE DISTRIBUTED ON A PRO-RATA BASIS. AT THE SAME TIME, FUNDS FROM THE SIPC RESERVE ARE AVAILABLE TO SATISFY THE REMAINING CLAIMS OF EACH CUSTOMER UP TO A MAXIMUM OF $500,000. THIS FIGURE INCLUDES A MAXIMUM OF $100,000 ON CLAIMS FOR CASH. RECOVERED FUNDS ARE USED TO PAY INVESTORS WHOSE CLAIMS EXCEED SIPC’S PROTECTION LIMIT OF $500,000. SIPC OFTEN DRAWS DOWN ITS RESERVE TO AID INVESTORS. YOU MAY OBTAIN MORE INFORMATION ABOUT SIPC, INCLUDING A BROCHURE, BY CONTACTING SIPC AT:
SECURITIES INVESTOR PROTECTION CORPORATION
805 15TH STREET, N.W. SUITE 800
WASHINGTON, D.C. 20005-2215
TEL: (202) 371-8300
FAX: (202) 371-6728
MIRAE IS A MEMBER OF THE FINANCIAL INDUSTRY REGULATORY AUTHORITY (FINRA), THE LARGEST INDEPENDENT REGULATOR FOR ALL SECURITIES FIRMS THAT CONDUCT BUSINESS IN THE UNITED STATES. YOU MAY OBTAIN MORE INFORMATION ABOUT FINRA THROUGH THEIR WEBSITE, WWW.FINRA.ORG. FINRA’S BROKERCHECK SYSEM, FORMERLY KNOWN AS FINRA’S PUBLIC DISCLOSURE PROGRAM, ALLOWS INVESTORS TO LEARN ABOUT THE PROFESSIONAL BACKGROUND, BUSINESS PRACTICES AND CONDUCT OF FINRA MEMBER FIRMS OR THEIR BROKERS. BROKERCHECK IS ACCESSIBLE VIA FINRA’S WEBSITE AND THROUGH THE BROKERCHECK HOTLINE AT 1-800-289-9999. AN INVESTOR BROCHURE IS ALSO AVAILABLE UPON REQUEST.
MIRAE NEITHER PAYS FOR NOR RECEIVES COMPENSATION FOR DIRECTING ORDER FLOW.