CAPACITY, INSTRUCTIONS AND TRANSACTIONS. 5.1 Capacity and Affiliation: USL will act as the Client’s agent in effecting Transactions unless USL indicates (in the contract note, statement and/or other trade-related documents for the relevant Transaction or otherwise) that USL is acting as principal.
CAPACITY, INSTRUCTIONS AND TRANSACTIONS. 5.1 Capacity and Affiliation: uSMART SG will act as the Client’s agent on an execution-only basis in effecting Transactions unless uSMART SG indicates (in the contract note, statement and/or other trade- related documents for the relevant Transaction or otherwise) that uSMART SG is acting as principal.
CAPACITY, INSTRUCTIONS AND TRANSACTIONS
