Order Routing and Execution Sample Clauses
The 'Order Routing and Execution' clause defines how orders placed by a client are directed to various markets or trading venues and how those orders are executed. Typically, this clause outlines the criteria or procedures the service provider uses to determine the best venue for execution, such as price, speed, and likelihood of execution, and may specify whether orders can be aggregated or split. Its core practical function is to ensure transparency and fairness in the handling of client orders, addressing potential conflicts of interest and helping clients understand how their trades are managed.
Order Routing and Execution. 4.1 I/We may transmit orders to you through the use of KEHK Electronic Trade and in accordance with all relevant procedures.
4.2 Without prejudice to Clause 3, I/we shall be fully responsible and liable for any orders placed with you, and transactions entered into, through the use of KEHK Electronic Trade accessed using the ID. In particular (but without limitation) I/we shall be bound by such orders notwithstanding any typographical or keystroke errors made when such orders are placed, any corruption or distortion of orders which may occur when such orders are transmitted through KEHK Electronic Trade, or that such orders may exceed any position or transaction limits or restrictions (whether imposed by the relevant exchange, you or otherwise). You shall, notwithstanding that any of such orders may be deemed as being that of yours vis-à-vis any relevantexchange, not be obliged to review, detect, correct or stop any of such orders in any way.
4.3 I/We acknowledge that the placement of an order through KEHK Electronic Trade, including a market order, does not guarantee receipt, acceptance or execution of the order.
4.4 Without prejudice to Clause 3, the cancellation or modification of an order pursuant to my/our request is not guaranteed. The order will be cancelled or modified only if my/our request for cancellation or modification is duly received and the order is successfully cancelled or modified before it is executed.
4.5 I/We accept that quoted prices may change prior to the trade’s execution and not all orders will be executed in chronological sequence with the orders being placed. Any instructions or orders given by me/us shall be deemed to be given or made at the time and in the format received by you. I/We shall not be entitled to presume an order as having been executed, cancelled or modified until it has received a notification from you confirming the same. Any such notification shall be deemed to have been received by me/us when the same is issued by you and I/We shall be bound thereby.