Common use of Control of orders prior to execution Clause in Contracts

Control of orders prior to execution. We have the right (but no obligation) to set limits and/or parameters to control your ability to place orders at our absolute discretion. Such limits and/or parameters may be amended, increased, decreased, removed or added to by us at our absolute discretion and may include (without limitation): (a) controls over maximum order amounts and maximum order sizes; (b) controls over our total exposure to you; (c) controls over prices at which orders may be submitted (to include (without limitation) controls over orders which are at a price which differs greatly from the market price at the time the order is submitted to the order book); (d) controls over the Electronic Services (to include (without limitation) any verification procedures to ensure that any particular order or orders has come from you); or (e) any other limits, parameters or controls which we may be required to implement in accordance with Applicable Regulations. We do not generally operate as a systematic internaliser, or engage in systematic internaliser activities as defined by XxXXX XX, however where we do we shall comply with the Applicable Regulations. Subject to the pre-trade quotation obligations set out in MiFID II, if we act as a systematic internaliser in a particular financial instrument, and we make available quotes to you in relation to such financial instrument, we may limit the number of Transactions in that financial instrument that we undertake with you (or, where applicable, your principal or principals) and/or the total number of Transactions we may enter into in aggregate with you on the basis of such published quote where it exceeds our internal risk limits or where the number and/or volume of orders sought by you and other clients considerably exceeds the norm.

Control of orders prior to execution. We have the right (but no obligation) to set limits and/or parameters to control your ability to place orders at our absolute discretion. Such limits and/or parameters may be amended, increased, decreased, removed or added to by us at our absolute discretion and may include (without limitation): (a) controls over maximum order amounts and maximum order sizes; (b) controls over our total exposure to you; (c) controls over prices at which orders may be submitted (to include (without limitation) controls over orders which are at a price which differs greatly from the market price at the time the order is submitted to the order book); (d) controls over the Electronic Services (to include (without limitation) any verification procedures to ensure that any particular order or orders has come from you); or (e) any other limits, parameters or controls which we may be required to implement in accordance with Applicable Regulations. We do not generally operate as a systematic internaliser, or engage in systematic internaliser activities as defined by XxXXX XXMiFID II, however where we do we shall comply with the Applicable Regulations. Subject to the pre-trade quotation obligations set out in MiFID II, if we act as a systematic internaliser in a particular financial instrument, and we make available quotes to you in relation to such financial instrument, we may limit the number of Transactions in that financial instrument that we undertake with you (or, where applicable, your principal or principals) and/or the total number of Transactions we may enter into in aggregate with you on the basis of such published quote where it exceeds our internal risk limits or where the number and/or volume of orders sought by you and other clients considerably exceeds the norm.