Common use of Order Handling Clause in Contracts

Order Handling. I understand that, subject to the terms and conditions of an Order, the method of execution of each Order is in the sole discretion of GTN Asia. If I do not specifically request that my Orders be routed to a particular Financial Market venue to which GTN Asia has access, Orders that are accepted by GTN Asia will be transmitted to the appropriate exchange or other Financial Market (as determined in good faith by GTN Asia ) for placement and execution or may result in an internal crossing transaction (where GTN Asia or the relevant executing broker matches a buy order generated by one client with a sell order generated by another client, without passing the orders to a Financial Market or other external trading venue for execution) or in a principal trade (where GTN Asia or the relevant executing broker takes the other side of the trade) being entered into between me or the relevant clearing broker. Further, to the above I agree to GTN Asia internal crossing of transaction under Omnibus account wherein the orders for buy and sell received from other Client(s) of GTN Asia at the same price may be matched internally against my/our order without relaying the order to the market. This would apply in the event GTN Asia feels that such orders may not be recognized by a stock exchange and there is a possibility that the orders get rejected. In all such cases of internal crossing of orders, GTN Asia provides me/us as Account Holders with fast execution of an order as against obtaining the best possible result for the order. Certain Orders, at GTN Asia’s sole discretion, may be subject to manual review and entry, which may cause delays in the execution of my Orders and may cause my Orders to be executed at prices that are significantly different from the price quotes I obtained when I entered my Order. GTN Asia reserves the right in its sole discretion to decline to accept any Order or to change its requirements with respect to stop or stop-limit Orders for securities or classes of securities without advance notice. I authorize GTN Asia to submit my Orders jointly with other Orders for other customers and I acknowledge that the average price for executions resulting from aggregated Orders will be assigned to my Trading Account. I understand that order aggregation may operate to my advantage or disadvantage on individual trades, but that GTN Asia will seek to ensure that order aggregation will not, on average, result in its customers as a whole being disadvantaged. On request, GTN Asia will make available the underlying records reflecting the actual Transaction prices. Purchases. I promise to pay for all Securities and/or Other Property purchased in my Trading Account by addition of the appropriate cash amount on or before the Settlement Date. Except for conditional offers for the purchase of new issues, GTN Asia reserves the right to require that my Trading Account contains funds in an amount equal to or greater than the purchase price of the securities prior to the trade date. I am responsible for my Orders, including any Order that may exceed the amount of funds available in my Trading Account, and I will not rely on GTN Asia to reject Order(s) that exceed my purchasing power. If full funds are not available in the Trading Account and my Order is processed, I must promptly deliver payment to GTN Asia for receipt on or before the Settlement Date. If payment is not received by the Settlement Date, or as Financial Markets conditions warrant at any time before or after settlement, GTN Asia may in its sole discretion liquidate and close out any or all Securities and/or Other Property in the Trading Account initiating the Transaction to satisfy my payment obligation, without prior notice and without regard for any previous demand or agreement concerning the time for payment. GTN Asia may otherwise liquidate Securities and/or Other Property in one Trading Account to satisfy a payment obligation in another Trading Account. In the event that Securities or Other Property held in one or more of my Trading Accounts are liquidated in accordance with this clause, I will be liable for any Losses incurred by GTN Asia and GTN Asia shall not be responsible for any Losses (including, for the avoidance of doubt, lost profits) that I may incur as a result of the liquidation. Sales. I promise to deliver all Securities and/or Other Property sold in my Trading Account and to provide collateral of a type and amount acceptable to GTN Asia in my Trading Account. GTN Asia generally requires that Securities and/or Other Property be held in a Trading Account prior to the acceptance of a sell Order with respect to such Securities and/or Other Property unless the Order is specifically designated as a "short sale." If Securities and/or Other Property is not held in my Trading Account and a sell Order is processed, I must promptly deliver such Securities and/or Other Property to GTN Asia for receipt in good deliverable form on or before the Settlement Date. Any Order accepted without negotiable certificates or positions in the Trading Account will be subject, at GTN Asia’s sole discretion, to cancellation or buy-in. To help ensure this will not occur, I agree that I will place sell Orders only for Securities and/or Other Property owned by me and held in my Trading Account at the time my Order is placed. Proceeds of a sale will not be paid to me or released into my Trading Account until GTN Asia has received the Securities and/or Other Property in good deliverable form, whether from a transfer agent or from me and the settlement of the Securities and/or Other Property is complete. If the Securities are not received on or before the Settlement Date, or as Financial Markets conditions warrant, GTN Asia may in its sole discretion purchase the Securities on the open Financial Markets for my Trading Account and may liquidate and close out any or all Securities and/or Other Property in any Trading Account in order to pay for such purchase ("buy-in"). In the event that Securities and/or Other Property are bought-in, I will be responsible for all resulting Claims or Losses incurred by GTN Asia.

Appears in 2 contracts

Samples: Letter Agreement, Asia Financial Services

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Order Handling. I understand that, subject to the terms and conditions of an Order, the method of execution of each Order is in the sole discretion of GTN AsiaMFS. If I do not specifically request that my Orders be routed to a particular Financial Market venue to which GTN Asia MFS has access, Orders that are accepted by GTN Asia MFS will be transmitted to the appropriate exchange or other Financial Market (as determined in good faith by GTN Asia MFS) for placement and execution or may result in an internal crossing transaction (where GTN Asia MFS or the relevant executing broker matches a buy order generated by one client with a sell order generated by another client, without passing the orders to a Financial Market or other external trading venue for execution) or in a principal trade (where GTN Asia MFS or the relevant executing broker takes the other side of the trade) being entered into between me or the relevant clearing broker. Further, to the above I agree to GTN Asia MFS internal crossing of transaction under Omnibus account wherein the orders for buy and sell received from other Client(s) of GTN Asia MFS at the same price may be matched internally against my/our order without relaying the order to the market. This would apply in the event GTN Asia MFS feels that such orders may not be recognized by a stock exchange and there is a possibility that the orders get rejected. In all such cases of internal crossing of orders, GTN Asia MFS provides me/us as Account Holders with fast execution of an order as against obtaining the best possible result for the order. Certain Orders, at GTN Asia’s MFS's sole discretion, may be subject to manual review and entry, which may cause delays in the execution of my Orders and may cause my Orders to be executed at prices that are significantly different from the price quotes I obtained when I entered my Order. GTN Asia MFS reserves the right in its sole discretion to decline to accept any Order or to change its requirements with respect to stop or stop-stop- limit Orders for particular securities or classes of securities without advance notice. I authorize GTN Asia MFS to submit my Orders jointly with other Orders for other customers and I acknowledge that the average price for executions resulting from aggregated Orders will be assigned to my Trading Account. I understand that order aggregation may operate to my advantage or disadvantage on individual trades, but that GTN Asia MFS will seek to ensure that order aggregation will not, on average, result in its customers as a whole being disadvantaged. On request, GTN Asia MFS will make available the underlying records reflecting the actual Transaction prices. Purchases. I promise to pay for all Securities and/or Other Property purchased in my Trading Account by addition of the appropriate cash amount on or before the Settlement Date. Except for conditional offers for the purchase of new issues, GTN Asia reserves the right to require that my Trading Account contains funds in an amount equal to or greater than the purchase price of the securities prior to the trade date. I am responsible for my Orders, including any Order that may exceed the amount of funds available in my Trading Account, and I will not rely on GTN Asia to reject Order(s) that exceed my purchasing power. If full funds are not available in the Trading Account and my Order is processed, I must promptly deliver payment to GTN Asia for receipt on or before the Settlement Date. If payment is not received by the Settlement Date, or as Financial Markets conditions warrant at any time before or after settlement, GTN Asia may in its sole discretion liquidate and close out any or all Securities and/or Other Property in the Trading Account initiating the Transaction to satisfy my payment obligation, without prior notice and without regard for any previous demand or agreement concerning the time for payment. GTN Asia may otherwise liquidate Securities and/or Other Property in one Trading Account to satisfy a payment obligation in another Trading Account. In the event that Securities or Other Property held in one or more of my Trading Accounts are liquidated in accordance with this clause, I will be liable for any Losses incurred by GTN Asia and GTN Asia shall not be responsible for any Losses (including, for the avoidance of doubt, lost profits) that I may incur as a result of the liquidation. Sales. I promise to deliver all Securities and/or Other Property sold in my Trading Account and to provide collateral of a type and amount acceptable to GTN Asia in my Trading Account. GTN Asia generally requires that Securities and/or Other Property be held in a Trading Account prior to the acceptance of a sell Order with respect to such Securities and/or Other Property unless the Order is specifically designated as a "short sale." If Securities and/or Other Property is not held in my Trading Account and a sell Order is processed, I must promptly deliver such Securities and/or Other Property to GTN Asia for receipt in good deliverable form on or before the Settlement Date. Any Order accepted without negotiable certificates or positions in the Trading Account will be subject, at GTN Asia’s sole discretion, to cancellation or buy-in. To help ensure this will not occur, I agree that I will place sell Orders only for Securities and/or Other Property owned by me and held in my Trading Account at the time my Order is placed. Proceeds of a sale will not be paid to me or released into my Trading Account until GTN Asia has received the Securities and/or Other Property in good deliverable form, whether from a transfer agent or from me and the settlement of the Securities and/or Other Property is complete. If the Securities are not received on or before the Settlement Date, or as Financial Markets conditions warrant, GTN Asia may in its sole discretion purchase the Securities on the open Financial Markets for my Trading Account and may liquidate and close out any or all Securities and/or Other Property in any Trading Account in order to pay for such purchase ("buy-in"). In the event that Securities and/or Other Property are bought-in, I will be responsible for all resulting Claims or Losses incurred by GTN Asia.

Appears in 1 contract

Samples: Agreement

Order Handling. I understand thatThe Custodian’s order handling process will first attempt to electronically match each Trade Order with a Trade Order from another client (on the opposite side) before routing a Trade Order externally. The Client will not know if an executed Trade Order was internally matched or routed away. The internal matching engine prioritizes orders with the highest (buy) or lowest (sell) price over orders with a lower (buy) or higher (sell) price; orders are then ranked on the system by arrival time. Trade Orders that are matched internally at the mid-point of prices that are derived from reference prices from external marketplaces, subject to the terms and conditions requirements of the applicable order type. Limit orders are matched internally if the Limit price is greater than or equal to the best ask for buy orders, or less than or equal to the best bid for sell orders. The Client will not know the execution price of an order before the Trade Order is executed. If a Trade Order is not matched internally, it will be routed away to counterparties that have been previously approved by the Custodian. The composition of the network of approved counterparties available to the Custodian may change at any time. The Custodian does not provide economic incentives to counterparties to attract order flow. The Custodian is not able to honor Client requests or prohibitions about trading with certain counterparties. The identity of the approved counterparties to whom the Client’s Trade Order has been externally routed will not be disclosed to the Client. The routing algorithm prioritizes Trade Orders by price, as described in the second paragraph of this section. The Custodian’s system requests the best prices that are available from approved counterparties; the Custodian’s order handling process will choose the best price from among the prices that are quoted by approved counterparties within a narrow range and will execute the Client’s Trade Order at that price as the execution price, subject to requirements of the applicable order type. The Client will not know the execution price of an order before the Trade Order is executed. Trade Orders are not aggregated, and buy and sell orders are not netted, when quotes are requested from approved counterparties. The Custodian will only execute Trade Orders that have been internally matched with another Trade Order or that have been executed at a price received from an approved counterparty. The Custodian does not mark-up or mark-down any quotes received from approved counterparties. The Custodian may declare a Trade Order to be null and void, or may adjust the execution price or other components of a Trade Order, if it determines, in its sole discretion, that the method execution price of the Trade Order was clearly erroneous. With respect to each executed Trade Order that was routed away (or, with respect to partial executions of a Trade Order, that portion that is executed), the relevant deliver, receive and related payment obligations will be owed to and from the Client and the Custodian (and will be settled through corresponding credits or debits to the Client’s Custody Account) and not to or from the Client and the counterparty that has provided the execution price of the related Trade Order. With respect to each executed Trade Order is that was matched internally, the Custodian will settle the Trade Order through corresponding credits or debits to the Client’s Custody Account, as applicable, without a requirement for any Delivery to occur. Settlement Proceeds from all Trade Orders will be made available to the Client, as reflected in the sole discretion of GTN Asia“Available” balance, on the trade settlement date after the Custodian’s operational processes are complete (generally, T+1). If I do not specifically request that my Orders be routed to a particular Financial Market venue to which GTN Asia has access, Orders that are accepted by GTN Asia will be transmitted to the appropriate exchange or other Financial Market (as determined in good faith by GTN Asia ) for placement and execution or may result in an internal crossing transaction (where GTN Asia or the relevant executing broker matches When a buy order generated is executed on T, the notional U.S. dollar value of the transaction will be debited from the U.S. dollar balance in the Client’s Cash Custody Account, and the quantity of Digital Assets to be received by one client with the Client will be reflected as “Pending” in the Custodian’s custody dashboard. When a sell order generated by another clientis executed on T, without passing the orders to a Financial Market or other external trading venue amount of Digital Assets for execution) or in a principal trade (where GTN Asia or the relevant executing broker takes transaction will be debited from the other side of the trade) being entered into between me or the relevant clearing broker. Further, to the above I agree to GTN Asia internal crossing of transaction under Omnibus account wherein the orders for buy and sell received from other Client(s) of GTN Asia at the same price may be matched internally against my/our order without relaying the order to the market. This would apply Digital Assets balance in the event GTN Asia feels Client’s Digital Asset Custody Account, and the U.S. dollars to be received by the Client will be reflected as “Pending” in the Custodian’s custody dashboard. Once the Custodian’s trade settlement processes are complete, generally on T + 1, the Digital Asset or U.S. dollar amount, as applicable, that such orders may not is designated as “Pending” in respect of a Trade Order entered on T will be recognized by changed from “Pending” to “Available”. Trading Fees Upon trade execution, Trade Orders will be assessed a stock exchange and there is a possibility that per transaction fixed fee in basis points (based on notional value) in the orders get rejected. In all such cases of internal crossing of orders, GTN Asia provides me/us as Account Holders with fast execution of an order as against obtaining amount specified in the best possible result for the order. Certain Orders, at GTN Asia’s sole discretion, may be subject to manual review and entryCustodial Services Agreement, which may cause delays in be updated from time to time. For purchases of Digital Assets, the execution U.S. dollar value of my Orders and may cause my Orders to be executed at prices that are significantly different from the price quotes I obtained when I entered my Order. GTN Asia reserves the right in its sole discretion to decline to accept any Order or to change its requirements with respect to stop or stop-limit Orders for securities or classes of securities without advance notice. I authorize GTN Asia to submit my Orders jointly with other Orders for other customers and I acknowledge that the average price for executions resulting from aggregated Orders Client’s Cash Custody Account will be assigned to my Trading Account. I understand that reduced at order aggregation may operate to my advantage or disadvantage on individual trades, but that GTN Asia will seek to ensure that order aggregation will not, on average, result in its customers as a whole being disadvantaged. On request, GTN Asia will make available the underlying records reflecting the actual Transaction prices. Purchases. I promise to pay for all Securities and/or Other Property purchased in my Trading Account entry by addition of the appropriate cash amount on or before the Settlement Date. Except for conditional offers for the purchase of new issues, GTN Asia reserves the right to require that my Trading Account contains funds in an amount equal to or greater than the purchase price of the securities prior to the trade date. I am responsible for my Orders, including any Order that may exceed the amount of funds available in my Trading the transaction fee, and the full executed quantity of Digital Assets will be credited to the Client’s Digital Assets Account, and I will not rely on GTN Asia subject to reject Order(s) that exceed my purchasing powerthe settlement procedures described above. If full funds are not available in For sales of Digital Assets, the Trading Account and my Order is processed, I must promptly deliver payment to GTN Asia for receipt on or before the Settlement Date. If payment is not U.S. dollar proceeds received by the Settlement Date, or as Financial Markets conditions warrant at any time before or after settlement, GTN Asia may in its sole discretion liquidate and close out any or all Securities and/or Other Property in the Trading Account initiating the Transaction to satisfy my payment obligation, without prior notice and without regard for any previous demand or agreement concerning the time for payment. GTN Asia may otherwise liquidate Securities and/or Other Property in one Trading Account to satisfy a payment obligation in another Trading Account. In the event that Securities or Other Property held in one or more of my Trading Accounts are liquidated in accordance with this clause, I Client will be liable for any Losses incurred reduced by GTN Asia and GTN Asia shall not be responsible for any Losses (including, for the avoidance of doubt, lost profits) that I may incur as a result amount of the liquidation. Sales. I promise to deliver all Securities and/or Other Property sold in my Trading Account and to provide collateral of a type and amount acceptable to GTN Asia in my Trading Account. GTN Asia generally requires that Securities and/or Other Property be held in a Trading Account prior to the acceptance of a sell Order with respect to such Securities and/or Other Property unless the Order is specifically designated as a "short saletransaction fee." If Securities and/or Other Property is not held in my Trading Account and a sell Order is processed, I must promptly deliver such Securities and/or Other Property to GTN Asia for receipt in good deliverable form on or before the Settlement Date. Any Order accepted without negotiable certificates or positions in the Trading Account will be subject, at GTN Asia’s sole discretion, to cancellation or buy-in. To help ensure this will not occur, I agree that I will place sell Orders only for Securities and/or Other Property owned by me and held in my Trading Account at the time my Order is placed. Proceeds of a sale will not be paid to me or released into my Trading Account until GTN Asia has received the Securities and/or Other Property in good deliverable form, whether from a transfer agent or from me and the settlement of the Securities and/or Other Property is complete. If the Securities are not received on or before the Settlement Date, or as Financial Markets conditions warrant, GTN Asia may in its sole discretion purchase the Securities on the open Financial Markets for my Trading Account and may liquidate and close out any or all Securities and/or Other Property in any Trading Account in order to pay for such purchase ("buy-in"). In the event that Securities and/or Other Property are bought-in, I will be responsible for all resulting Claims or Losses incurred by GTN Asia.

Appears in 1 contract

Samples: Custodial Services Agreement (wShares Bitcoin Fund)

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Order Handling. I understand thatThe Custodian’s order handling process will first attempt to electronically match each Trade Order with a Trade Order from another client (on the opposite side) before routing a Trade Order externally. The Client will not know if an executed Trade Order was internally matched or routed away. The internal matching engine prioritizes orders with the highest (buy) or lowest (sell) price over orders with a lower (buy) or higher (sell) price; orders are then ranked on the system by arrival time. Trade Orders that are matched internally at the mid-point of prices that are derived from reference prices from external marketplaces, subject to the terms and conditions requirements of the applicable order type. Limit orders are matched internally if the Limit price is greater than or equal to the best ask for buy orders, or less than or equal to the best bid for sell orders. The Client will not know the execution price of an order before the Trade Order is executed. If a Trade Order is not matched internally, it will be routed away to counterparties that have been previously approved by the Custodian. The composition of the network of approved counterparties available to the Custodian may change at any time. The Custodian does not provide economic incentives to counterparties to attract order flow. The Custodian is not able to honor Client requests or prohibitions about trading with certain counterparties. The identity of the approved counterparties to whom the Client’s Trade Order has been externally routed will not be disclosed to the Client. The routing algorithm prioritizes Trade Orders by price, as described in the second paragraph of this section. The Custodian’s system requests the best prices that are available from approved counterparties; the Custodian’s order handling process will choose the best price from among the prices that are quoted by approved counterparties within a narrow range and will execute the Client’s Trade Order at that price as the execution price, subject to requirements of the applicable order type. The Client will not know the execution price of an order before the Trade Order is executed. Trade Orders are not aggregated, and buy and sell orders are not netted, when quotes are requested from approved counterparties. The Custodian will only execute Trade Orders that have been internally matched with another Trade Order or that have been executed at a price received from an approved counterparty. The Custodian does not xxxx-up or xxxx-down any quotes received from approved counterparties. The Custodian may declare a Trade Order to be null and void, or may adjust the execution price or other components of a Trade Order, if it determines, in its sole discretion, that the method execution price of the Trade Order was clearly erroneous. With respect to each executed Trade Order that was routed away (or, with respect to partial executions of a Trade Order, that portion that is executed), the relevant deliver, receive and related payment obligations will be owed to and from the Client and the Custodian (and will be settled through corresponding credits or debits to the Client’s Custody Account) and not to or from the Client and the counterparty that has provided the execution price of the related Trade Order. With respect to each executed Trade Order is that was matched internally, the Custodian will settle the Trade Order through corresponding credits or debits to the Client’s Custody Account, as applicable, without a requirement for any Delivery to occur. Settlement Proceeds from all Trade Orders will be made available to the Client, as reflected in the sole discretion of GTN Asia“Available” balance, on the trade settlement date after the Custodian’s operational processes are complete (generally, T+1). If I do not specifically request that my Orders be routed to a particular Financial Market venue to which GTN Asia has access, Orders that are accepted by GTN Asia will be transmitted to the appropriate exchange or other Financial Market (as determined in good faith by GTN Asia ) for placement and execution or may result in an internal crossing transaction (where GTN Asia or the relevant executing broker matches When a buy order generated is executed on T, the notional U.S. dollar value of the transaction will be debited from the U.S. dollar balance in the Client’s Cash Custody Account, and the quantity of Digital Assets to be received by one client with the Client will be reflected as “Pending” in the Custodian’s custody dashboard. When a sell order generated by another clientis executed on T, without passing the orders to a Financial Market or other external trading venue amount of Digital Assets for execution) or in a principal trade (where GTN Asia or the relevant executing broker takes transaction will be debited from the other side of the trade) being entered into between me or the relevant clearing broker. Further, to the above I agree to GTN Asia internal crossing of transaction under Omnibus account wherein the orders for buy and sell received from other Client(s) of GTN Asia at the same price may be matched internally against my/our order without relaying the order to the market. This would apply Digital Assets balance in the event GTN Asia feels Client’s Digital Asset Custody Account, and the U.S. dollars to be received by the Client will be reflected as “Pending” in the Custodian’s custody dashboard. Once the Custodian’s trade settlement processes are complete, generally on T + 1, the Digital Asset or U.S. dollar amount, as applicable, that such orders may not is designated as “Pending” in respect of a Trade Order entered on T will be recognized by changed from “Pending” to “Available”. Trading Fees Upon trade execution, Trade Orders will be assessed a stock exchange and there is a possibility that per transaction fixed fee in basis points (based on notional value) in the orders get rejected. In all such cases of internal crossing of orders, GTN Asia provides me/us as Account Holders with fast execution of an order as against obtaining amount specified in the best possible result for the order. Certain Orders, at GTN Asia’s sole discretion, may be subject to manual review and entryCustodial Services Agreement, which may cause delays in be updated from time to time. For purchases of Digital Assets, the execution U.S. dollar value of my Orders and may cause my Orders to be executed at prices that are significantly different from the price quotes I obtained when I entered my Order. GTN Asia reserves the right in its sole discretion to decline to accept any Order or to change its requirements with respect to stop or stop-limit Orders for securities or classes of securities without advance notice. I authorize GTN Asia to submit my Orders jointly with other Orders for other customers and I acknowledge that the average price for executions resulting from aggregated Orders Client’s Cash Custody Account will be assigned to my Trading Account. I understand that reduced at order aggregation may operate to my advantage or disadvantage on individual trades, but that GTN Asia will seek to ensure that order aggregation will not, on average, result in its customers as a whole being disadvantaged. On request, GTN Asia will make available the underlying records reflecting the actual Transaction prices. Purchases. I promise to pay for all Securities and/or Other Property purchased in my Trading Account entry by addition of the appropriate cash amount on or before the Settlement Date. Except for conditional offers for the purchase of new issues, GTN Asia reserves the right to require that my Trading Account contains funds in an amount equal to or greater than the purchase price of the securities prior to the trade date. I am responsible for my Orders, including any Order that may exceed the amount of funds available in my Trading the transaction fee, and the full executed quantity of Digital Assets will be credited to the Client’s Digital Assets Account, and I will not rely on GTN Asia subject to reject Order(s) that exceed my purchasing powerthe settlement procedures described above. If full funds are not available in For sales of Digital Assets, the Trading Account and my Order is processed, I must promptly deliver payment to GTN Asia for receipt on or before the Settlement Date. If payment is not U.S. dollar proceeds received by the Settlement Date, or as Financial Markets conditions warrant at any time before or after settlement, GTN Asia may in its sole discretion liquidate and close out any or all Securities and/or Other Property in the Trading Account initiating the Transaction to satisfy my payment obligation, without prior notice and without regard for any previous demand or agreement concerning the time for payment. GTN Asia may otherwise liquidate Securities and/or Other Property in one Trading Account to satisfy a payment obligation in another Trading Account. In the event that Securities or Other Property held in one or more of my Trading Accounts are liquidated in accordance with this clause, I Client will be liable for any Losses incurred reduced by GTN Asia and GTN Asia shall not be responsible for any Losses (including, for the avoidance of doubt, lost profits) that I may incur as a result amount of the liquidation. Sales. I promise to deliver all Securities and/or Other Property sold in my Trading Account and to provide collateral of a type and amount acceptable to GTN Asia in my Trading Account. GTN Asia generally requires that Securities and/or Other Property be held in a Trading Account prior to the acceptance of a sell Order with respect to such Securities and/or Other Property unless the Order is specifically designated as a "short saletransaction fee." If Securities and/or Other Property is not held in my Trading Account and a sell Order is processed, I must promptly deliver such Securities and/or Other Property to GTN Asia for receipt in good deliverable form on or before the Settlement Date. Any Order accepted without negotiable certificates or positions in the Trading Account will be subject, at GTN Asia’s sole discretion, to cancellation or buy-in. To help ensure this will not occur, I agree that I will place sell Orders only for Securities and/or Other Property owned by me and held in my Trading Account at the time my Order is placed. Proceeds of a sale will not be paid to me or released into my Trading Account until GTN Asia has received the Securities and/or Other Property in good deliverable form, whether from a transfer agent or from me and the settlement of the Securities and/or Other Property is complete. If the Securities are not received on or before the Settlement Date, or as Financial Markets conditions warrant, GTN Asia may in its sole discretion purchase the Securities on the open Financial Markets for my Trading Account and may liquidate and close out any or all Securities and/or Other Property in any Trading Account in order to pay for such purchase ("buy-in"). In the event that Securities and/or Other Property are bought-in, I will be responsible for all resulting Claims or Losses incurred by GTN Asia.

Appears in 1 contract

Samples: Custodial Services Agreement (wShares Bitcoin Fund)

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