On receiving any client funds, a Licensed Person shall immediately place such funds into a separate and independent account opened with a Local Bank except in cases where settlement of a Client’s dealings is to be performed in a foreign market in which case these shall be settled in accordance with the relevant settlement procedures. The Licensed Person shall take the Care of a Prudent Person in the selection, appointment and periodic review of the bank where such Clients’ Funds are deposited, ensuring that such Client accounts are segregated from the accounts of the Licensed Person’s accounts. Clients’ funds may be placed in one or more banking account.