Common use of Execution Limit Clause in Contracts

Execution Limit. 3.1 The Client covenants to observe the trading conditions imposed or to be imposed by the Broker on the Client from time to time, including without limitation credit limits imposed on the trading activities of the Client. In the event the trading limits imposed on the Client are breached at any time, the Client shall take all steps necessary to rectify the position and to ensure that it is within the allowed limits. In the event the Client fail to do so, the Broker shall, and is hereby authorised to take such steps as is necessary to ensure that the Client remain within the permitted trading limits, without liability to the Client in respect of any losses thereby sustained. 3.2 The Client acknowledges and agrees that the Broker and/or the Connected Exchange may set specific parameters defining the orders that may be entered by the Client, including restriction to specific instruments or size of orders, and the Broker shall have the right to reject orders that do not fall within the designated parameters of authorised orders. 3.3 For the avoidance of doubt, the Client’s Electronic Orders will be subject to the Filters, including (without limitation) the Filters whose object is to: (a) prevent a breach of the Applicable Laws; or (b) prevent the Electronic Orders being registered with a trading platform where the price at which the Electronic Order is submitted through the Electronic Trading Facilities is too far from the prevailing market price for the relevant futures contract; or (c) ensure that the Electronic Trading Facilities does not interfere with the efficiency and integrity of the market conducted by the Connected Exchange. 3.4 The Broker has, and accepts, no responsibility or liability to the Client or any person claiming through the Client for failing to register such Electronic Orders with the trading platform.