Common use of Securities Buy Orders Clause in Contracts

Securities Buy Orders. Customer must have adequate funds in their Customer MSB Account in order to place a securities buy order with FTX through the Customer Account. For clarity, Customer will be prohibited from placing securities buy orders through their Account in an amount that exceeds their Customer MSB Account balance. In addition, Customer further acknowledges that when they sell a security that the proceeds of such sale will not be immediately available in their Customer MSB Account. When placing a securities buy order, Customer explicitly agrees, acknowledges and instructs MSB to transfer necessary funds for the purchase price of such security from Customer MSB Account to Customer Account held at the Clearing Broker. Customer understands that transfers from Customer MSB Account to the Clearing Broker will be batched with transfers initiated by other Customers on the same trading day. Batched transfers will be sent to the Clearing Broker via a single wire transfer at the end of the relevant trading day rather than immediately upon such instruction by Customer to MSB.

Securities Buy Orders. Customer must have adequate funds in their Customer MSB Account in order to place a securities buy order with FTX through the Customer Account. For clarity, Customer will be prohibited from placing securities buy orders through their Account in an amount that exceeds their Customer MSB Account balance. In addition, Customer further acknowledges that when they sell a security that the proceeds of such sale will not be immediately available in their Customer MSB Account. When placing a securities buy order, Customer Xxxxxxxx explicitly agrees, acknowledges and instructs MSB to transfer necessary funds for the purchase price of such security from Customer MSB Account to Customer Account held at the Clearing Broker. Customer understands that transfers from Customer MSB Account to the Clearing Broker will be batched with transfers initiated by other Customers on the same trading day. Batched transfers will be sent to the Clearing Broker via a single wire transfer at the end of the relevant trading day rather than immediately upon such instruction by Customer to MSB.