Broker to Be Used. Apex Clearing Corporation shall maintain the Account and custody of the Assets credited thereof, and perform functions such as executing transactions, clearing and crediting of interest and dividends. The client shall retain ownership of all cash, securities, and other instruments in the Account. Apex, as the custodian, shall also act as the broker-dealer which will execute all orders on behalf of the Account. Newday Impact anticipates aggregating or “batch” orders in order to obtain best execution, to negotiate more favorable commission rates or to allocate equitably among the Newday Impact clients differences in prices and commissions or other transaction costs that might have been obtained had such orders been independent. Under this procedure, transactions will be averaged as to price and transaction costs and will be allocated among Newday Impact clients in proportion to the purchase and sale orders placed for each client account on any given day. If Newday Impact cannot obtain execution of all the combined orders at prices or for transactions costs that Newday Impact believes are desirable, Newday Impact will allocate the securities Newday Impact does buy or sell as part of the combined orders by following Newday Impact’s order allocation procedures. Newday Impact anticipates that Apex will provide best execution for the Client. In the event Newday Impact determines that Apex does not at any time provide best execution in its capacity as a broker-dealer, Newday Impact reserves the right to select a different broker-dealer which will provide best execution with respect to such transaction. “Best execution” includes the amount of broker-dealer fees which will be charged to the Newday Impact Account in connection with any trade, but it may also include other benefits. As such, Newday Impact may retain Apex as the broker-dealer with respect to the Account even if its broker-dealer fees are not the lowest fees which could be charged for such transaction.
Broker to Be Used. Client hereby directs Financial Guard to execute all securities transactions for the Client Account with or through the Custodian who is also the Designated Broker, as described in Financial Guard’s Form ADV Brochure. Client represents and warrants that Client is satisfied with the terms and conditions relating to all services to be provided by Designated Broker and acknowledges and understands that Financial Guard shall not have any responsibility for the commission rates charged by the Designated Broker, if any, or for achieving best execution for or with respect to the Account. Client recognizes and understands that by directing brokerage in this manner, Financial Guard may not obtain most favorable execution of transactions and that this practice may cost Client more money than if Financial Guard had discretion to select broker-dealers other than Designated Broker for trade execution.
Broker to Be Used. Employees will be responsible for setting up their own brokerage and settlement accounts and after clearance of any proposed investment should execute their personal dealing instructions via their nominated broker(s).
