Direct Execution Orders Clause Samples

Direct Execution Orders. (i) The Company shall, in its sole discretion, determine to execute Direct Execution Orders either as principal or by acting as riskless principal or agent, including, where applicable, determining the market center for execution of such Direct Execution Orders, in any case in accordance with Section 2.4(a) (Execution Quality Service Levels); provided, however, if any such Direct Execution Order is a Directed Order, the Company shall execute such Directed Order at the venue for execution specified by such Directed Order. (ii) Subject to Section 3.1(c), all such Direct Execution Orders shall be executed by the Company on a principal, riskless principal or agency basis without commission or commission equivalent.