Version #4 (rebranded) 22 February 2008

Online Trading User Guidelines

1.            Scope

These User Guidelines set out the terms upon which we will grant access to our electronic services, RBS Sempra Online Electronic Trading ("SOLe"). SOLe forms part of http://rbssempra.com (the "Website"), which is operated by RBS Sempra Metals ("RBS Sempra Metals", "we", "us"). In these User Guidelines, "User" refers to any person accessing or using SOLe on behalf of any customer of RBS Sempra Metals (the "Customer"), or seeking or purporting to do so.

2.            Live Trading via SOLe

The Live Trading function of SOLe enables your orders to be routed directly to LME Select during LME Select's normal operating hours. Orders matched on LME Select will give rise to a trade between RBS Sempra Metals and another LME broker and to a principal to principal contract between you and RBS Sempra Metals. From GMT 1900 to 0100, when LME Select is closed, your orders will be received into SOLe and may be matched off against another client of RBS Sempra Metals or may remain there until LME Select resumes trading during its normal operating hours.

All transactions routed to LME Select will be subject to the rules of the LME including (without limitation) the rules, notices, requirements and guidelines relating to LME Select ("LME Select Requirements"). By entering into Transactions under on SOLe, you agree to be bound by and to comply with all LME Select Requirements that apply to you.

Further information relating to LME Select and the LME Select Requirements is available from us on request. Certain information may also be available, from time to time, in these User Guidelines as amended and published on the Website. You acknowledge, however, that this information may not be exhaustive and does not relieve you of your obligation to familiarise yourself with the LME Select Requirements.

3.            Responsibilities Relating to SOLe Users

You are responsible for:

1. being sufficiently qualified, experienced and trained in accessing and using SOLe;
2. understanding, agreeing to, and complying with these User Guidelines;
3. treating any Username or password issued to you as confidential and not disclosing them to any third party (including but not limited to anyone else working at your firm) or allowing any third party (including but not limited to anyone else working at your firm) to access SOLe using your Username and password;
4. not letting anyone else use your terminal until you have logged off from SOLe; and
5. understanding and complying with the LME Select Requirements, including without limitation, the procedures for error correction and notification described in these User Guidelines.

The Customer will be bound by all acts or omissions of all Users and of any and all persons using or appearing to us to be using the Username of one of its Users, and you will be held responsible for any use of SOLe made via your Username.

Furthermore, you are responsible for and obligated to abide by all orders entered by using your Username, regardless of whether they contain any errors. Your attention is particularly drawn to the Correction Procedure for SOLe described in Section 4 of these Guidelines, and the time limits for correcting trades and notifying RBS Sempra Metals in the event of erroneous entries on SOLe.

4.            SOLe Correction Procedures

4.1         Input of Incorrect Data - General

You are responsible for any input data into SOLe.

Although there are basic tolerance checks, these are general and set for all users of SOLe and LME Select. Furthermore, due to the manner in which the market operates and in which the tolerance checks are calculated, the tolerance checks may not in all circumstances appear on screen.

4.2         Input of Data - Errors

When trading on SOLe, you are trading directly into LME Select, the London Metal Exchange's automated trading system, except between GMT 1900 and 0100, when LME Select is closed. Therefore, you will be issued with a contract with RBS Sempra Metals that corresponds exactly to the trade you make on LME Select. As a result, the LME rules, particularly those for correction of trades, will apply to all your trades on SOLe and will affect the contract you receive from RBS Sempra Metals. Only those trades that are corrected on LME Select will result in a correction in the contract you receive from RBS Sempra Metals.

The LME has strict rules regarding the correction of trades that result from erroneous input. RBS Sempra Metals has no ability to override or amend these rules and change a trade once it is input. Corrections will only be allowed by the LME as follows:

1. The LME has absolute discretion whether or not to permit the cancellation of trades and will only do so where the LME determines, in its absolute discretion, that the trade was a clear or serious error.
2. The LME may refuse to allow the cancellation of a trade even where the parties agree to the cancellation, if it decides that there was no clear or serious error.
3. If the trade price is less than 2% from the last traded price on Select, no correction will be permitted.
4. If the error is greater than 2% from the last traded price on Select, the LME will allow RBS Sempra Metals to begin the correction process with the other LME Broker ONLY if the LME is notified by RBS Sempra Metals within 15 minutes of you executing the trade. This means that you must notify RBS Sempra Metals immediately, but in any event, NO LATER THAN five minutes after the trade is executed, so that RBS Sempra Metals has time to notify the LME of the error within the 15-minute deadline.
5. When notifying RBS Sempra Metals of an error, you must speak on the telephone to your RBS Sempra Account Executive or another RBS Sempra employee. If you cannot reach your RBS Sempra Account Executive, depending on your location and the time of day, please contact RBS Sempra at one of the following telephone numbers:
   1. London, UK              +44 20 7847 7555
   2. Stamford, CT, USA  +1 203 355 5217
   3. Tokyo, Japan            +81 3 5219 2573
6. Following telephone notification, notice to RBS Sempra Metals must also be confirmed via an email to: SOLeHelpdesk@rbssempra.com clearly stating 'Trade Error' in the subject header and the TIME, CONTRACT, SIZE, and PRICE of the erroneous trade in the body of the email. Notice of an error CANNOT be made by any other form of communication or any procedure other than the telephone call and confirming email as described above.
7. Notwithstanding notification of the error to the LME within the deadline, the other LME Broker with whom the trade is made on LME Select may refuse to agree to the correction. The LME, however, has the power to force the other broker to agree to the correction, but this decision is within the sole discretion of the LME, and RBS Sempra Metals has no authority or ability to change the decision of the LME.
8. The LME has the power to cancel an LME Select trade on its own initiative, if it determines, in its absolute discretion, that the trade was a clear or serious error. This means that the LME could also enforce cancellation of a trade with you that has been erroneously input by another party. In such case, RBS Sempra cannot override the cancellation or have any responsibility for your trade, and you will have to abide by the decision of the LME.

In light of this policy, remember to check carefully any data which you have entered into SOLe. Although we will do our best to help you resolve any errors, at first instance, errors are the responsibility of each User and the Customer for which the User is trading.

Copies of the LME rules and updates and notices may be purchased from the LME on www.LME.com. RBS Sempra Metals also have some information about the updates and notices on SOLe under the "Help" section of our website. For further assistance on this or any other SOLe issues, please contact SOLe Support Desk on support@rbssempra.com.

5.            Refusal of Orders and Cancellation of Transactions by RBS Sempra Metals

A transaction shall only become binding when we send an acknowledgement to the Customer, including by electronic means, and RBS Sempra Metals may in its discretion refuse or withdraw any orders submitted by the Customer or its Users on SOLe. RBS Sempra Metals may in its discretion withdraw any unexecuted or part unexecuted orders and shall not be obliged to give the Customer a reason.

RBS Sempra Metals or LME Select may refuse to accept or cancel a transaction executed at a manifestly erroneous price or volume or where a regulator, exchange, or clearing house of competent jurisdiction so requires. You are obligated to take any appropriate follow up action where orders are cancelled or rejected.

6.            Compliance

You agree that you will not use SOLe or the Website for any purpose contrary to any applicable law, regulation or rule. You agree that you will only use SOLe and the Website for ordinary commercial purposes and not for any illegal or improper purpose, including but not limited to any market abuse or manipulation.

You represent and warrant that you have all the necessary authorisations to conduct business through SOLe and the Website and that you will comply with all applicable laws, regulations, and rules in relation of conduct of business through SOLe and/or the Website.

7.            Termination and Suspension of Access to the Website

RBS Sempra Metals reserves the right, at any time in its sole discretion:

1. to deny you access to SOLe;
2. to suspend or terminate immediately your access to SOLe; and/or
3. to disable any Username or password (whether chosen by you or allocated by RBS Sempra Metals).

8.            Intellectual Property Rights

RBS Sempra Metals is the owner or the licensee of all intellectual property rights in the Website and in the materials published on it. Those works are protected by laws and treaties around the world. All such rights are reserved.

All information available to you and your Users on LME Select is similarly protected, and you undertake that neither you nor your Users will copy, distribute or transmit, in whole or in part, any LME information without the prior written consent of the LME.

9.            Disclaimer

Because of the possibility of delays and human and/or mechanical error, as well as other factors, RBS Sempra Metals is not responsible for any delays, errors, inaccuracies or omissions in or on SOLe and/or the Website.

SOLe AND THE WEBSITE are PROVIDED "AS IS" WITHOUT ANY WARRANTY OF ANY KIND. RBS SEMPRA METALS MAKE NO REPRESENTATIONS OR WARRANTIES AND, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, HEREBY EXPRESSLY DISCLAIMS ANY AND ALL EXPRESS, IMPLIED AND STATUTORY REPRESENTATIONS AND WARRANTIES OF ANY KIND TO YOU AND/OR ANY THIRD PARTY INCLUDING, WITHOUT LIMITATION, ANY WARRANTY AS TO ACCURACY, TIMELINESS, COMPLETENESS, RELIABILITY, MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, NON-INFRINGEMENT AND/OR FREEDOM FROM COMPUTER VIRUS. RBS SEMPRA METALS DOES NOT WARRANT THAT ACCESS TO AND/OR USE OF SOLe AND/OR THE WEBSITE WILL BE UNINTERRUPTED OR ERROR-FREE.

10.         Liability

IN NO EVENT SHALL RBS SEMPRA METALS BE LIABLE FOR ANY DIRECT OR INDIRECT, SPECIAL, INCIDENTAL OR CONSEQUENTIAL DAMAGES, LOSSES, LIABILITIES OR EXPENSES ARISING DIRECTLY OR INDIRECTLY OUT OF OR IN CONNECTION WITH SOLe AND/OR THE WEBSITE OR THE USE THEREOF OR INABILITY TO USE BY ANY PARTY, OR IN CONNECTION WITH ANY FAILURE OR PERFORMANCE, ERROR, OMISSION, INTERRUPTION, DEFECT, DELAY IN OPERATION OR TRANSMISSION, COMPUTER VIRUS OR LINE OR SYSTEM FAILURE EVEN IF RBS SEMPRA METALS IS ADVISED OF THE POSSIBILITY OF SUCH DAMAGES, LOSSES, LIABILITIES OR EXPENSES.

RBS Sempra Metals shall have no liability to you (whether in contract or in tort, including negligence) in the event that any viruses are introduced into your computer systems via the Website, SOLe or any software provided to you in order to enable you to use SOLe or the Website, provided that RBS Sempra Metals has taken reasonable steps to prevent any such introduction.

11.        Help

If you have any questions or problems on technical issues relating to SOLe, you can contact us via our Support Desk by email on support@rbssempra.com.