Dismissal of the client's appeal against the bank's decision to liquidate his position in the foreign exchange market

Facts

- The company [B. SA] is a bank active in online trading, particularly in the foreign exchange market (Forex). On September 3, 2014, client [A.] opened a trading account with this bank and carried out transactions on the EUR/CHF currency pair. - On January 15, 2015, the Swiss National Bank announced the abandonment of the Swiss franc exchange rate floor, which led to a strong appreciation of the franc and "illiquidity" in the foreign exchange market. The bank then automatically liquidated the client's position, in accordance with the clauses of the e-forex contract he had accepted. - The client contested this liquidation, arguing that the bank should have executed his "stop-loss" order for the sale of his position at a rate of 1.194. The bank initiated an action for payment of the negative balance resulting from this liquidation.

Considerations

- The Court of Appeal dismissed the client's appeal and upheld the decision of the lower court. It considered that the evidence of the rate of 1.194 being reached was not provided and that the clauses of the e-forex contract, particularly Article 4.13 providing that the…