Common use of CANCELLATION AND MODIFICATION REQUESTS Clause in Contracts

CANCELLATION AND MODIFICATION REQUESTS. Client acknowledges that it may not be possible to cancel or modify an order. Client understands and agrees that, if an order cannot be canceled or modified, Client is bound by any execution of the original order. GMI is not liable to Client if GMI is unable to cancel or modify an order. Client further acknowledges that attempts to modify or cancel and replace an order can result in an over-execution of the order, or the execution of duplicate orders, that GMI’s systems do not prevent over-execution on duplicate orders from occurring, and that Client shall be responsible for all such executions. Client agrees not to assume that any order has been executed or cancelled until Client has received confirmation from GMI with regard to order execution. Client is responsible for knowing the status of Client ‘s pending orders before entering additional orders. Client agrees to contact GMI in the event Client is unclear on the status of an order. Client agrees to regularly review Client’s online Account Statement to confirm the status of Client’s orders. Each Transaction that is opened or closed for Client’s account is valid and binding on Client, notwithstanding whether the opening or closing of the Transaction causes Client’s account to exceed any credit or other limit GMI has imposed on Client. Each Transaction is also valid and binding on Client regardless of whether it is the result of an inaccuracy or mistake made by Client.

CANCELLATION AND MODIFICATION REQUESTS. Client acknowledges that it may not be possible to cancel or modify an order. Client understands and agrees that, if an order cannot be canceled cancelled or modified, Client is bound by any execution of the original order. GMI EDGE is not liable to Client if GMI EDGE is unable to cancel or modify an order. Client further acknowledges that attempts to modify or cancel and replace an order can result in an over-execution of the order, or the execution of duplicate orders, that GMIGMI EDGE’s systems do not prevent over-execution on duplicate orders from occurring, and that Client shall be responsible for all such executions. Client agrees not to assume that any order has been executed or cancelled until Client has received confirmation from GMI EDGE with regard to order execution. Client is responsible for knowing the status of Client ‘s Client‘s pending orders before entering additional orders. Client agrees to contact GMI EDGE in the event Client is unclear on the status of an order. Client agrees to regularly review Client’s online Account Statement to confirm the status of Client’s orders. Each Transaction that is opened or closed for Client’s account is valid and binding on Client, notwithstanding whether the opening or closing of the Transaction causes Client’s account to exceed any credit or other limit GMI EDGE has imposed on Client. Each Transaction is also valid and binding on Client regardless of whether it is the result of an inaccuracy or mistake made by Client.