MCEL Client Diclosure Agreement

Dear client,

As a consequence of the UK’s withdrawal from the European Union last year, the Macquarie Equities business will transition the servicing of select EEA institutional clients from Macquarie Capital (Europe) Limited (MCEL) to Macquarie Capital France Société Anonyme (MCF) to ensure the continuation of our brokerage services to You.

We wish to notify You that this transition will be effective from 1 August 2022 or such later day as notified to you by Macquarie.

What will change?

Previously, You have contracted with, and received contract notes/confirmations from MCEL for equity brokerage trades executed in all markets apart from India, Taiwan and Korea (the “ID Markets”).

From the effective date, your contracting entity and legal counterparty for all non-ID Markets will, subject to your agreement, becomes MCF, which will act as your Receipt and Transmission of Orders (RTO) agent. Note that your confirmations and contract notes will be issued by MCF. MCF will effectively intermediate your orders and transmit them to the applicable affiliate for execution. The European based Sales and Sales Traders that You interact with will be employed and licensed to MCF.

What do I need to do?

Please refer to the information on this link for the new terms of business that will apply as between You and MCF (the “MCF Terms”). While You may consider this communication as formal termination of the existing Terms of Business between You and MCEL, You will need to actively accept the MCF Terms in order to ensure that our services may continue on an uninterrupted basis. The existing Terms of Business between You and MCEL shall terminate effective on 1 July 2022 should You accept the MCF Terms, or otherwise 1 October 2022. Should You wish to avail yourself of direct market access and/or China Connect Securities services, You may also agree to enter into the relevant MCF Direct Market Access Agreement and the additional terms for trading China Connect Securities (collectively, “Ancillary Documents”) in the link provided. We CANNOT act as your broker until You have positively confirmed your acceptance of the MCF Terms. Accordingly, we would be grateful if You could confirm your acknowledgement and agreement by clicking the button below.


Where you acknowledge and agree to the MCF Terms and any relevant Ancillary Documents prior to 1 August 2022, they will only take effect and apply from 1 August 2022 or such later day as notified to you by Macquarie.

If You have any questions on the MCF Terms, other changes or the handling of your data, please contact us by return email as soon as possible and in any event within 30 days of receiving this communication.

In addition to the changes referred to above and as part of the transition from MCEL to MCF, we may request for documentation to update our Know Your Client records for You. For the time being the settlement instructions will remain unchanged. Any changes to settlement instructions will be communicated to your settlement team.

If you have not set up MCF as a broker, please contact your Macquarie account manager, who will be happy to assist You

Macquarie Capital, Equities Division