OTC FX WITH VELOCITY AND VELOCITY NOMINEES Sample Clauses

OTC FX WITH VELOCITY AND VELOCITY NOMINEES. 12.1 Velocity is authorised to open one or more Accounts in the Client’s name at Velocity Nominees to hold the Client’s contracts in OTC FX (collectively, the “Account”). Velocity is further authorized to purchase and sell OTC FX for the Client’s Account with Velocity Nominees in accordance with the Client’s oral (proper identification required), written (signature required) or electronic (password required) instructions. Unless instructed by the Client to the contrary in writing, Velocity is authorized to execute all orders for the Client’s Account as Velocity deems appropriate and in accordance with the Velocity OTC FX Order Execution Policy (set out below at Appendix A to section 37). Velocity may, at its sole discretion, engage in foreign exchange contracts transactions for the Client where Velocity Nominees will act as the Registered Owner for the Client in such transactions.
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