Terms and conditions

The conditions set out below govern the relationship between the User of the Tukki-App and SWIC Digital Gateway AG (“SWIC”) as the provider, unless otherwise specified in separate agreements or special provisions for certain categories of business.

1. Independence

SWIC is independent and does not enter into de facto or legal relationships with third parties that allow the third party to exert influence on the exercise of activity on behalf of the User. SWIC does not enter into any exclusivity commitments that restrict it in relation to the fulfillment of instructions with regard to the services offered or choice of investment instruments.

2. Duty of Loyalty

SWIC ensures that its business activities are conducted in a proper manner and undertakes to perform the business entrusted to it with due care. SWIC acts in good faith at all times and complies with the statutory obligations applicable to its business activities.

3. Confidentiality

In accordance with statutory regulations, SWIC employees undertake to maintain confidentiality in respect of all business dealings with the User including beyond the end of a business relationship.

4. Execution of Orders and Stock Market Conventions (“Best Execution”)

SWIC shall process all User orders in good faith and in accordance with the principle of equal treatment and shall ensure that the interests of Users are safeguarded in good faith to the best of its ability. SWIC shall ensure that User orders are correctly registered and allocated. Only orders placed through the Tukki app will be executed.

Furthermore, SWIC is not obliged to execute off-exchange limit orders which are tradable on a regulated market, if they cannot be executed immediately due to their limitation.

The following principles apply to SWIC’s execution of orders in financial instruments (“best execution”):

  • In the interest of the contracting party, SWIC must take all sufficient measures to achieve the best possible result in financial, temporal, and qualitative terms when executing User orders.
  • The best possible result shall be based, in particular, on the total fee resulting from the price of the financial instrument and all costs associated with the execution of the order, including execution venue fees and charges, clearing and settlement costs, and any other fees.

SWIC obtains the execution policies of the executing venues, reviews them, and compares the terms. The criteria for the selection are:

  • Prices of the financial instruments (buy/sell prices)
  • Total costs of order processing
  • Speed of order execution
  • Probability of order execution
  • Practicability of electronic settlement platforms
  • Quality of electronic data exchange within an interface and other services that ensure efficient and optimal cooperation between SWIC and the executing institution in the interest of the User.

During the ongoing business relationship, SWIC monitors whether the executing entities execute the orders in accordance with its execution policy. Once a year, SWIC reviews the execution policies of the executing entities for compliance with the above criteria and would make changes to the selection if necessary.

Stock exchange transactions are subject to the conventions of the corresponding stock exchanges. The User acknowledges that his/her stock-exchange orders may not be processed immediately, or on a round-the-clock basis, and are dependent on the public holidays of the Bank and/or processing unit, as well as the trading days and trading hours of the stock exchange concerned.

5. User Information

In order to fulfill its legal obligations, SWIC collects various information from the contracting party in advance. Information may include, where relevant:

  • His/her knowledge and experience in the investment business, in particular information on the type of services, transactions, and financial instruments with which he/she is familiar, as well as the type, scope, and frequency of his/her transactions with financial instruments, his/her profession or previous professional activities or educational background.
  • His/her investment objectives, in particular information on the planned investment purpose, the time horizon of the investment, the risk tolerance, and the resulting risk profile.
  • His/her financial circumstances, in particular information on the origin and amount of regular income and regular obligations, the total assets including liquid assets and real estate, as well as his/her ability to bear losses.

6. Key Information Document (KID)

SWIC shall provide the Private Client, free of charge and prior to the conclusion of a transaction in financial instruments, with a brief and easily understandable basic information document (KID) on each financial instrument to which a recommendation to buy relates. This applies insofar as no KID needs to be prepared.

7. Costs and Prices

The use of the Tukki app is generally free of charge. No registration or usage fees are applied. However, SWIC reserves the right to charge a transaction fee to the respective product provider for each transaction.

8. Reporting

SWIC always endeavors to ensure the greatest possible transparency about itself and its services. This means that the contracting party receives a statement of assets and liabilities with the option of a benchmark on a regular basis—at least once a year—and at the contracting party’s request. A benchmark may be chosen by the contracting party, such as an index or other asset, or an artificial benchmark consisting of a mixture of these. If no benchmark is selected, an absolute return will apply, i.e., SWIC will apply the standard index of the currency.

9. Valuation of Financial Instruments

SWIC uses the valuation criteria of the respective custodian bank or external data sources for the valuation of the financial instruments held in the User portfolio and limits itself to checking the values provided. The following should be noted:

  • Investment funds are always valued at the redemption values published by the respective fund companies.
  • Listed securities are each determined at the prices of the most liquid market in these securities based on the official closing prices.
  • The valuations of the financial instruments in the User portfolio are usually carried out on each trading day.

10. Documentation & Accountability

SWIC documents in an appropriate manner:

  • The financial services agreed with and provided to the contracting party.
  • Information collected about the contracting party.
  • Appropriateness and suitability assessments, their exceptions and failures, and, in the latter case, about the advice not to use the service.
  • The contracting party’s investment advice needs and the reasons for any recommendation leading to the acquisition or disposal of a financial instrument.

Upon written request, SWIC shall provide, in a timely manner (within 20 working days) and free of charge, a copy of the documents produced on the contracting party. In the event of a renewed and unjustified request, corresponding expenses will be charged.

The contracting party bears the right to free information about his/her own and third-party service and product costs incurred.

11. User Complaints

User complaints relating to the execution or failure to execute instructions of any kind, as well as other communications from the Bank in connection with SWIC’s activities, must be lodged as soon as the notice in question has been received. If an expected notice fails to be sent, the complaint must be lodged at the time the User would have received the notice within the normal course of business.

12. Delegation of Tasks to Third Parties

SWIC performs the contractually awarded mandate itself but may delegate tasks to third parties with prior consent from the User.

13. Compensation by Third Parties

SWIC receives a transaction fee from the product provider for each transaction.

14. Liability

Investments are inherently subject to risk, and SWIC assumes no liability for losses or damages resulting from market volatility, technical issues, system failures, or unauthorized access to the platform. Users are responsible for their investment decisions and are advised to seek professional financial advice.

15. Taxes and Duties

The User should be aware that income from investments may be subject to taxes depending on individual circumstances.

16. Data Protection and Processing

For information on data protection, please refer to our privacy policy.

17. Termination

Users may terminate their account and delete their user profile at any time. All personal data will be deleted in accordance with the privacy policy unless legally required to be retained.

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