Common use of Programme Trades Clause in Contracts

Programme Trades. Where we accept an order to effect a Programme Trade, you agree that we are not obliged to notify you whether we act as principal or agent. If you would like us to execute a Programme Trade on a market as your agent, you must give instructions to us to that effect. In such case, we shall take all reasonable steps to obtain best execution, subject always to any specific instructions from you. If you do not instruct us to execute the Programme Trade as agent we will execute the Programme Trade as principal subject to Applicable Regulations. Upon request we will provide you with information comparing the execution of your Programme Trade with industry standard benchmarks and/or with any benchmark determined by you. We may execute an own account transaction in any investment included in a Programme Trade. Where you ask us to bid as principal on a Programme Trade that is based on market prices at a designated strike time or on an agreed benchmark, unless otherwise agreed in relation to such Programme Trade, we may at any time following your request for the bid, undertake transactions, including transactions using information provided by you, in the relevant securities or related securities which could have an impact on the strike prices achieved for you in the relevant securities. "Programme Trade" means a transaction or series of transactions executed in order to acquire or dispose of all or part of a basket of securities or a portfolio.

Programme Trades. Where we accept an order to effect a Programme Trade, you agree that we are not obliged to notify you whether we act as principal or agent. If you would like us to execute a Programme Trade on a market Market as your agent, you must give instructions to us to that effect. In such case, we shall take all reasonable steps to obtain best execution, subject always to any specific instructions from you. If you do not instruct us to execute the Programme Trade as agent we will execute the Programme Trade as principal subject to Applicable RegulationsRegula­ tions. Upon request we will provide you with information comparing the execution of your Programme Trade with industry standard benchmarks and/or with any benchmark determined by you. We may execute an own account transaction trans­ action in any investment included in a Programme Trade. Where you ask us to bid as principal on a Programme Trade that is based on market prices at a designated strike time or on an agreed benchmark, unless otherwise agreed in relation to such Programme Trade, we may at any time following your request for the bid, undertake transactions, including transactions trans­ actions using information provided by you, in the relevant securities or related securities which could have an impact on the strike prices achieved for you in the relevant securities. "Programme Trade" means a transaction or series of transactions executed in order to acquire or dispose of all or part of a basket of securities or a portfolio.“

Programme Trades. Where we accept an order to effect a Programme Trade, you agree that we are not obliged to notify you whether we act as principal or agent. If you would like us to execute a Programme Trade on a market as your agent, you must give instructions to us to that effect. In such case, we shall take all reasonable steps to obtain best execution, subject always to any specific instructions from you. If you do not instruct us to execute the Programme Trade as agent we will execute the Programme Trade as principal subject to Applicable Regulations. Upon request we will provide you with information comparing the execution of your Programme Trade with industry standard benchmarks and/or with any benchmark determined by you. We may execute an own account transaction in any investment included in a Programme Trade. Where you ask us to bid as principal on a Programme Trade that is based on market prices at a designated strike time or on an agreed benchmark, unless otherwise agreed in relation to such Programme Trade, we may at any time following your request for the bid, undertake transactions, including transactions using information provided by you, in the relevant securities or related securities which could have an impact on the strike prices achieved for you in the relevant securities. "Programme Trade" means a transaction or series of transactions executed in order to acquire or dispose of all or part of a basket of securities or a portfolio.