DEALING ROUTING SERVICE Clause Samples
The Dealing Routing Service clause defines the terms under which a service provider routes or directs financial transactions, such as trades or orders, on behalf of a client. This clause typically outlines the scope of the routing service, the responsibilities of the provider in executing or transmitting orders, and any limitations or conditions that apply, such as specific markets, instruments, or timing requirements. By clearly establishing how and when orders are routed, the clause ensures transparency and helps prevent disputes regarding execution quality or responsibility for failed or delayed transactions.
DEALING ROUTING SERVICE. 12.1 By submitting any instruction to transact in securities using the Computershare Dealing Routing Service ("dealing service") the Client agrees to the following provisions:
12.1.1 The Client may only give instructions to transact in any security by means of the telephonic service when operational. Instructions will not be accepted by any other means, including without limitation, fax, electronic mail, and photocopied forms or through the Internet. Computershare reserves the right to alter the times that the telephonic service is available.
12.1.2 Computershare will not carry out any instruction to transact securities on behalf of the Client unless it is satisfied that the Client has been recorded as the owner of the securities in Computershare’s records.
12.1.3 The Client may only use the dealing service if his securities are registered in the South African sub-register maintained and operated by Computershare.
12.1.4 Computershare will endeavour to inform the Client if an instruction given by the Client will not be carried out unless Computershare has good reason for not doing so. Computershare will not be liable for refusing to carry out any instruction if it has good reason for not doing so.
12.1.5 Any instruction submitted by another person on behalf of the Client should not be recognised unless an original power of attorney or other appropriate authority (or a complete copy thereof certified by a Commissioner of Oaths) has been received and accepted by Computershare.
12.1.6 All instructions given by the Client to the dealing service are irrevocable and shall be dealt with on the business day immediately following the business day on which they were received and failing that as soon as reasonably possible thereafter.
12.1.7 In the event that Computershare’s nominated stockbroker is unable to process the entire trade due to there being insufficient buyers or sellers in the market, the balance of the trade will be kept pending by the broker for a 30 day period in terms of standard market practice.
12.1.8 Computershare will thereafter endeavour to notify the Client of the status of the trade and the Client shall upon receipt of Computershare’s notification provide a replacement instruction or cancel the balance of the trade.
12.1.9 No limit order or raise order will be accepted by Computershare. The Client acknowledges that prices may fluctuate from the time the instruction is given until the time that the transaction is executed.
12.1.10 By submitting...