Consolidation, Disaggregation and Prioritization of Orders. Partial Execution and lPO Application and Over-the-Counter transactions 14.1 Consolidation and disaggregation orders You authorize us at any time and in our discretion to consolidate and/or disaggregate Instructions to purchase and/or sell Securities on your behalf with similar Instructions received from other clients. 14.2 No less favorable execution We will ensure that such consolidation or disaggregation will not result in the execution of your Instructions at a price less favorable than could have been achieved had your Instructions been executed individually. If insufficient Securities are available to satisfy purchase orders so consolidated, the number of Securities actually purchased shall be divided proportionately between the individual Instructions which were consolidated. 14.3 To prioritize for the best execution (a) Subject to applicable laws and regulations and market requirements, you acknowledge and agree that we and/or our Agents may, in our or our Agents’ sole discretion, at any time prioritize Instructions for the best execution pricing and/or determine the priority in the execution of our clients’ orders, having due regard to the sequence in which such orders were received, and you shall not have any claim of priority to another client in relation to the execution of any order received by us and/or our Agents. (b) You acknowledge that due to trading practices, it may not always be able to execute orders at the prices quoted “at best” or “at market” and you agree in any event to be bound by Transactions executed by us and/or our Agents following Instructions given by you. 14.4 Acceptance of lesser amount Where an Instruction for effecting Transactions in Securities of a specified quantity cannot be effected in full, it may be affected in any lesser amount or quantity. In that event, such portion executed shall be binding on and be accepted by you.
Appears in 5 contracts
Samples: Customer Agreement, Customer Agreement, Customer Agreement
Consolidation, Disaggregation and Prioritization of Orders. Partial Execution and lPO Execution, IPO Application and Over-the-the- Counter transactions
14.1 Consolidation and disaggregation orders You authorize us at any time and in our discretion to consolidate and/or disaggregate Instructions to purchase and/or sell Securities or to sell, purchase or close out Futures Contracts or Option Contracts on your behalf with similar Instructions received from other clients.
14.2 No less favorable execution We will ensure that such consolidation or disaggregation will not result in the execution of your Instructions at a price less favorable than could have been achieved had your Instructions been executed individually. If insufficient Securities Securities, Futures Contracts or Option Contracts (as the case may be) are available to satisfy purchase orders so consolidated, the number of Securities Securities, Futures Contracts or Option Contracts (as the case may be) actually purchased shall be divided proportionately between the individual Instructions which were consolidated.
14.3 To prioritize for the best execution
(a) Subject to applicable laws and regulations and market requirements, you acknowledge and agree that we and/or our Agents may, in our or our Agents’ sole discretion, at any time prioritize Instructions for the best execution pricing and/or determine the priority in the execution of our clients’ orders, having due regard to the sequence in which such orders were received, and you shall not have any claim of priority to another client in relation to the execution of any order received by us and/or our Agents.
(b) You acknowledge that due to trading practices, it may not always be able to execute orders at the prices quoted “at best” or “at market” and you agree in any event to be bound by Transactions executed by us and/or our Agents following Instructions given by you.
14.4 Acceptance of lesser amount Where an Instruction for effecting Transactions in Securities of a specified quantity cannot be effected in full, it may be affected in any lesser amount or quantity. In that event, such portion executed shall be binding on and be accepted by you.
Appears in 5 contracts
Samples: Account Application Form and Client Agreement, Client Agreement, Client Agreement
