REGISTRATION
OFC does not accept cash, credit cards or money orders.
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See below for Rules, Regulations, Legal Compliance and Fee Structure
Offshore Financial Consultants Hong Kong 离岸财务顾问 (AAZ949) is a wholly owned subsidiary of:
OFC Holding CR No.: 2147458
Company Name: OFC HOLDING LIMITED
澳菲斯亞洲有限公司
OFC Cayman Islands is a wholly owned subsidiary of:
OFC Holdings Inc.: File Number: 2625311 - Formation Date: 5/16/1996 - Entity Name: OFC HOLDINGS, INC.
Transfer Agent and Advanced Technology | Fees & Overview
OFC charges retail individuals per Smart Contract written into the Blockchain for Registration. OFC will then charge 1.9% of transaction value (payable by both buyer and seller) with a maximum of $10,000.USD. per contract. This minimum fee imposed is a bulk services fee.
OFC charges Corporate Clients per Smart Contract written into the Blockchain for Registration. OFC will then charage 1.5% of transaction value (payable by both buyer and seller) with a maximum of $50,000.USD. per contract. This minimum fee imposed is a bulk services fee.
OFC charges Institutional Clients per Smart Contract written into the Blockchain for Registration. OFC will then charge 1.03% of transaction value (payable by both buyer and seller) with a maximum of $100,000.USD. per contract. This minimum fee imposed is a bulk services fee.
Transfer agents work to record changes of ownership, maintain security holder records, cancel and issue certificates, and distribute capital. OFC acts as its own transfer agent. A service fee of $15.00 plus a processing fee, currently at $0.12 per each whole share and fraction sold, will be charged for each sale. The processing fee includes any applicable brokerage commissions OFC is required to pay.
Guidelines
- Countersigning such securities upon issuance;
- Monitoring the issuance of such securities with a view to preventing unauthorized issuance (i.e., a registrar);
- Registering the transfer of such securities; exchanging or converting such securities; or
- Transferring record ownership of securities by bookkeeping entry without the physical issuance of securities certificates.
Section 11- Registration Of Transfer Agents
Transfer agents can be registered or non-registered. A registered transfer agent is a transfer agent that has registered with the SEC or, in the case of banks serving as transfer agents, with an applicable Federal bank regulatory agency. Whether a transfer agent must register depends on whether the transfer agent transfers Section 12 Securities. Section 17A(c)(1) of the 1934 Act specifically states that “it shall be unlawful for any transfer agent, unless registered in accordance with this section, directly or indirectly, to make use of the mails or any means or instrumentality of interstate commerce to perform the function of a transfer agent with respect to any security registered under Section 12 of this title or which would be required to be registered except for the exemption from registration provided by subsections (g)(2)(B) or (g)(2)(G) of that section.” Section 12 requires the registration of the following types of securities
- Securities traded on national securities exchanges, e.g., the American Stock Exchange, the New York Stock Exchange, or NASDAQ. NASDAQ applied for registration and received recognition as a national securities exchange in 2006. To be traded on a national securities exchange, the security is registered with the national security exchange.
Definition: Clearing price is that price of a commodity or a security at which the market clears a commodity or a security. Quantity supplied is equal to quantity demanded and buyers and sellers conduct the trade.
Description: A price is a specific monetary value associated with a security or a commodity. Generally, sellers expect to get the highest possible price for their product, while buyers want to get it at the lowest possible price.
In such a scenario, a price that settles the transaction so that both the parties are in agreement is called the clearing price. Where this price settles is influenced by various other factors. It can also be referred to as the equilibrium price.
It can be said that the clearing price is equal to a value that is the same as the lowest price a seller is ready to take for his commodity and the highest price a buyer is ready to pay for it. Thus, it becomes the price at which the latest transaction was conducted.
Clearing Fees
Clearing Member | |
Clearing | |
| Clearing Fees | |
| Trades with contracts of 0-2,750 | $0.02/contract |
| Trades with contracts of greater than 2,750 | $55.00/trade |
| Linkage per side | $0.02 *A Linkage Transaction that includes more than 2,750 contracts will be charged a flat fee of $55.00 per trade per side. |
| Minimum Monthly Clearing Fee | $200.00 |
| New Products | |
| Unless otherwise agreed to by OFC and the applicable exchange, from the first day of listing through the end of the following calendar month | $0.00 |
| Exercise Fee — per line item on exercise notice | $1.00 |
| Membership | |
| New Clearing Member Qualification Fee | $4,000.00 |
| Stock and Market Loan Program Transaction Fees | |
| Per transaction assessed against each lender and borrower | $1.00 |
| Stock and Market Loan Program Borrower Fees | |
| Monthly annualized charge on average daily notional outstanding balance | 0.4 basis point |
| Stamps | |
| Clearing Member Authorization Stamp | $23.00/stamp |
Ancillary Services | Per Month |
| TIER I | $1,500.00 |
| • MyOFC Access • Data Service – proprietary position and trade data (includes transmission to service bureau) • Report Bundle • Series File • Special Settlement File • Open Interest File • Prices File • Stock Loan File • Theoretical Profit and Loss Values • Leased line charges are additional | |
| TIER II | $1,000.00 |
| • MyOFC Access • Data Service – proprietary position and trade data (includes transmission to service bureau) • Report Bundle • Leased line charges are additional | |
| TIER III | $650.00 |
| OFC Access • MyOFC Access | |
| TIER IV (Stock Loan only) | $300.00 |
| OFC Access • MyOFC Access | |
| Additional Clearing Member | No Charge |
| Leased Line Service Destinations | Per month, per line |
| USA / Canada | $1,000.00 |
| Europe | €1,500.00 |
| Asia / Australia | $2,000.00 |
Cash Management Fee | |
| Monthly annualized charge on Clearing Member’s average daily cash balance in OFC’s Federal Reserve bank account. | 5 basis points |
Operational Loss Fee | |||
| Maximum Operational Loss Fee** | $157,000,000.00 less the aggregate amount of Operational Loss Fees previously charged and not refunded as of the date calculated, divided by the number of Clearing Members at the time charged. | ||
| ** OFC would charge the Operational Loss Fee if OFC’s shareholders’ equity less the Minimum Corporate Contribution falls below $241,200,000.00 at any time or falls below $268,000,000.00 for a period of 90 consecutive calendar days. If less than the maximum Operational Loss Fee is needed to return OFC’s shareholders’ equity to $294,800,000.00, OFC will charge only that amount. | |||
OFC Capital Management Reporting | |||
Audited as of December 31, 2021 | 2021 Full Year | ||
| in millions | Act | Bgt | B(W) |
| Total Income Before Taxes | $117.5 | $120.6 | $(3.1) |
| Average Daily Contract Volume | 39.4 | 22.0 | 17.4 |
| Liquid Net Assets Funded by Equity 1 | $497.5 | $277.0 | $296.8 |
| 1 Liquid Net Assets Funded by Equity represents cash and cash equivalents, less any approved adjustments. | |||
| Total Equity | $652 | ||
| Early Warning | $275 | ||
| Target Capital | $250 | ||
| Trigger Event | $225 | ||
Clearing Member & Non-Clearing Member | |
| Publications | |
| Disclosure Documents | $0.45 |
| OFC/By-Laws and Rules | Updates can be obtained on a subscription basis for $47.00 per year. |
Non-Clearing Member | |
| Series Information | Per Month |
| Non-Distribution | $1,750.00 |
| Distribution | $3,000.00 |
| Real Time Data (in addition to fees listed above) | $250.00 |
| Prices Information | $3,000.00 |
| Theoretical Profit and Loss Values | $1,000.00 |
. As of January 2022. ALL FEES ARE SUBJECT TO CHANGE.
The OFC Sky Fund Mandate Highlights
Program Access: Available only through OFC’s Managed Account – The OFC Sky Fund.
Program Objective: To generate consistent capital appreciation by employing a diversified ensemble of algo-systematic alpha strategies at a level of risk similar to long-term global equities (~20% annualized volatility).
Investment Universe: Primarily IPO Futures & Crypto Futures Contracts
Style: 100% Algo-Systematic.
Strategy Description
Markets are marginally inefficient in many small ways that can be profitably hunted, validated, and exploited through novel quantitative methods. These inefficiencies primarily arise from investors expressing non-wealth maximizing investment preferences; regulatory constraints and frictions; agency effects; institutional rigidity; commercial hedging; and the inertia of traditional investment heuristics.
The OFC Sky Fund takes the other side of these wealth compromising trades by deploying a diversified ensemble of long/short algo-systematic FinTech strategies derived from advanced algo-statistical methods and machine learning tools.
1 Program assets include all monies invested in The OFC Sky Fund.
2 Returns are calculated from the gross returns of The OFC Sky Fund net of 2% management fee and 20% incentive fee as Returns are calculated from the gross returns of The OFC Sky Fund Futures Program Composite net of 2% management fee and 20% incentive fee as well as all trading and administrative expenses.
The OFC Sky Fund Minimum for Accredited Investors
| Min. Subscription | |
| Fund | $1,000,000 |
| Managed Account | $2,000,000 |
| Liquidity | Daily* |
| Redemptions | Quarterly |
| Redemption/Subscription Notice | 15 Days |
| Reporting | Quarterly |
Confidential and proprietary information.
The contents herein may not be reproduced or disseminated without the express written permission of Offshore Financial Consultants (Hong Kong) (“OFC”). Offshore Financial Consultants has claimed an exemption under Rule 4.7 which exempts OFC from certain part 4 requirements with respect to offerings to qualified eligible persons.
PAST PERFORMANCE IS NOT NECESSARILY INDICATIVE OF FUTURE RESULTS
This presentation is intended exclusively for Qualified Eligible Persons and Qualified Purchasers only and is being delivered to prospective investors on a confidential basis. These materials do not purport to be exhaustive or to contain all the information that a prospective investor may desire in investigating any investment opportunity.
These materials are for preliminary discussion only and may not be relied upon for making any investment decision. Rather, prospective investors should review the funds’ Offering Memorandums (the “OMs”) and rely on their own independent investigation of the funds or the accounts. In the event that any of the terms of this presentation are inconsistent with or contrary to the OMs or account opening documents, the OMs and account opening documents shall prevail.
Any fund units will be issued under exemptions from the prospectus requirements of applicable securities laws and will be subject to certain resale restrictions. Neither Securities and Exchange Commission nor the National Futures Association or any other securities regulatory authority of any jurisdiction has passed upon the accuracy or adequacy of this presentation, and any representation to the contrary is unlawful.
This presentation does not constitute an offer to sell or a solicitation of interest to purchase any securities or investment advisory services in any jurisdiction in which such offer or solicitation is not authorized.
Compliance & Regulations
Accepted Crypto-asset Transfers / Wire Transfers Rules & Regulations
Applicability and OFC’s Accepted Crypto-assets Rulings and Guidelines
OFC is a service provider that provides accepted crypto-asset transfers and/or electronic transfer of funds (wire transfer), irrespective of whether the provider is licensed or not, must comply with the requirements of OFC.
OFC is ultimately responsible for the functioning and activities as a service provider and must ensure that the we-meets-all regulatory obligations as specified in this Section.
Amended: January 2022
Added: January 2020OFC’s Approach to Transfer of Accepted Crypto-assets
As with financial payment methods, accepted crypto-assets can be used to quickly move (transfer) funds globally and to facilitate a range of financial activities. Similar to mobile or internet based payment services and mechanism, accepted crypto-assets can be used to transfer funds in a wide geographical area with a large number of counterparties.
Added: January 2020OFC considers transactions involving transfer of accepted crypto-assets as functionally analogous to wire transfer. Therefore, OFC (including crypto-asset division), whenever their transaction, whether in fiat currency or accepted crypto-assets, involves (i) a traditional wire transfer, or (ii) an accepted crypto-asset transfer, must comply with the requirements of the commission unless stated otherwise.
Amended: January 2022
Added: January 2020
Transfer of Accepted Crypto-assets and Wire Transfer
Accepted Crypto-asset Transfer to be Considered as Cross Border Transfer
OFC (including crypto-asset division) must consider all transfers of accepted crypto-assets as cross-border transfer rather than domestic transfer.
Amended: January 2022
Added: January 2020
Outward Transfers
OFC must include all required originator information and required beneficiary information details with the accompanying transfer of accepted crypto-assets and/or wire transfer of funds they make on behalf of their customers.
Amended: January 2022
Added: January 2020Inward Transfers
OFC must:
(a) Maintain records (in accordance with commission rules) of all originators information received with an inward transfer; and(b) Carefully scrutinize inward transfers which do not contain originator information (i.e. full name, address and account number or a unique customer identification number). OFC must presume that such transfers are ‘suspicious transactions’ and pass them to the Regulator for review for determination as to possible filing, unless (i) the ordering financial institution is able to promptly (i.e. within two business days) advise OFC of the originator information upon OFC’s request; or (ii) the ordering financial institution and OFC are acting on their own behalf (as principal).Amended: January 2022
Added: January 2020The period of 2 business days provided to ordering financial institution by OFC to furnish the originator information is only applicable while undertaking fund transfer (traditional wire transfer) and must not be used in case of transfer of accepted crypto-assets.
Amended: January 2022
Added: January 2020While undertaking accepted crypto-asset transfer, OFC must ensure that the ordering financial institution transmits the originator and beneficiary information immediately.
Amended: January 2022
Added: January 2020
Accepted Crypto-asset Transfer and Cross Border Wire Transfer
Information accompanying all accepted crypto-asset transfer as well as wire transfer must always contain:
(a) The name of the originator;(b) The originator account number (e.g. IBAN or crypto-asset wallet) where such an account is used to process the transaction;(c) The originator’s address, or national identity number, or customer identification number, or date and place of birth;(d) The name of the beneficiary; and(e) The beneficiary account number (e.g. IBAN or crypto-asset wallet) where such an account is used to process the transaction.
Added: January 2020Where OFC undertakes a transfer of accepted crypto-asset, it is not necessary for the information to be attached directly to the accepted crypto-asset transfers itself. The information can be submitted either directly or indirectly.
Amended: January 2022
Added: January 2020OFC, while undertaking transfer of accepted crypto-asset must ensure that the required originator and beneficiary information is transmitted immediately and securely.
Amended: January 2022
Added: January 2020For the purposes of this Paragraph, the term “Securely” means that the provider of the information must protect it from unauthorized disclosure as well as ensure that the integrity and availability of the required information is maintained so as to facilitate record-keeping and the use of such information by financial institution. The term “immediately” means that the provider of the information must submit the required information simultaneously or concurrently with the transfer itself of the accepted crypto-asset.
Added: January 2020OFC recognizes that unlike traditional fiat currency wire transfer, not every accepted crypto-asset transfer involves (or is book-ended by) two institutions (crypto-asset entities or financial institution). In instances in which an accepted crypto-asset transfer involves only one financial institution on either end of the transfer (e.g. when an ordering financial institution sends accepted crypto-assets on behalf of its customers, the originator, to a beneficiary that is not a customer of a beneficiary financial institution but rather an individual user who receives the accepted crypto-asset transfer using his/her own distributed ledger technology (DLT) software, such as an unhosted wallet), the financial institution must still ensure adherence to commission rules. OFC does not expect that financial institutions, when originating an accepted crypto-asset transfer, would submit the required information to individual users who are not financial institutions. However, financial institutions receiving an accepted crypto-asset transfer from an entity that is not a financial institution (e.g. from an individual accepted crypto-asset user using his/her own DLT software, such as an unhosted wallet), must obtain the required originator information from their customer.
Added: January 2020
Domestic Wire Transfer
Information accompanying domestic wire transfers must also include originator information as indicated for cross-border wire transfers, unless this information can be made available to the beneficiary financial institution and OFC by other means. In the latter case, the ordering financial institution need only include the account number or a unique transaction reference number, provided that this number or identifier will permit the transaction to be traced back to the originator or the beneficiary.
Added: January 2020Information should be made available by the ordering financial institution within three business days of receiving the request either from the beneficiary financial institution or from OFC.
Added: January 2020It is not necessary for the recipient institution to pass the originator information on to the beneficiary. The obligation is discharged simply by notifying the beneficiary financial institution of the originator information at the time the transfer is made.
Added: January 2020
Responsibilities of Ordering, Intermediary and Beneficiary Financial Institutions
Ordering Financial Institution
The ordering financial institution must ensure that wire transfers as well as accepted crypto-asset transfers contain required and accurate originator information, and required beneficiary information.
Added: January 2020The ordering financial institution must maintain all originator and beneficiary information collected in accordance with commission rules.
Added: January 2020The ordering financial institution must not execute the wire transfer or accepted crypto-asset transfer if it does not comply with the requirements of commission rules.
Added: January 2020
Intermediary Financial Institutions
For cross-border wire transfers and accepted crypto-asset transfers, financial institutions processing an intermediary element of such chains of wire transfers and/or accepted crypto-asset transfers must ensure that all originator and beneficiary information that accompanies a wire transfer and accepted crypto-asset transfer is retained with it.
Added: January 2020Where technical limitations prevent the required originator or beneficiary information accompanying a cross-border wire transfer from remaining with a related domestic wire transfer, a record must be kept, for at least five years, by the receiving intermediary institution of all the information received from the ordering financial institution or another intermediary financial institution.
Added: January 2020
An intermediary financial institution must take reasonable measures to identify cross-border wire transfers and accepted crypto-asset transfer that lack required originator information or required beneficiary information.
Added: January 2020
An intermediary financial institution must have effective risk-based policies and procedures for determining:
(a) When to execute, reject, or suspend a traditional wire transfer lacking required originator or required beneficiary information; and(b) The appropriate follow-up action.Added: January 2020
Beneficiary Financial Institution
A beneficiary financial institution must take reasonable measures to identify cross-border wire transfers as well as accepted crypto-asset transfer that lack required originator or required beneficiary information. Such measures may include post-event monitoring or real-time monitoring where feasible.
Added: January 2020
For wire transfers as well as accepted crypto-asset transfer, a beneficiary financial institution must verify the identity of the beneficiary, if the identity has not been previously verified, and maintain this information in accordance with commission rules.
Added: January 2020A beneficiary financial institution must have effective risk-based policies and procedures for determining:
(a) When to execute, reject, or suspend a traditional wire transfer lacking required originator or required beneficiary information; and(b) The appropriate follow-up action.
Added: January 2020