Securities Sell Orders. When Customer places a sell order through their Customer Account, Customer explicitly agrees, acknowledges and instructs Clearing Broker to transfer the settlement proceeds from such sell transaction from Customer Account to Customer MSB Account. Customer understands that such instructions will result in the proceeds of all securities sales to be transferred, upon settlement, from Customer Account to the Customer MSB Account. These transfers will be batched into a bulk transfer and combined with other Broker Customer transfer requests initiated on the same trading day. Bulk transfers will be made from Clearing Broker to MSB via a single wire transfer at the end of the relevant trading day. BY ENTERING INTO THIS AGREEMENT AND CONSISTENT WITH THIS SECTION 16(B)(3) CUSTOMER UNDERSTANDS AND ACKNOWLEDGES THAT ALL CUSTOMER FREE CASH BALANCES WILL BE TRANSFERRED PER CUSTOMER INSTRUCTION TO CUSTOMER MSB ACCOUNT UPON SETTLEMENT OF ANY SECURITIES SALE TRANSACTION. CUSTOMER UNDERSTANDS AND ACKNOWLEDGES THAT THIS WILL RESULT IN CUSTOMER ACCOUNT HOLDING A ZERO CASH BALANCE.
Securities Sell Orders. When you place a sell order through your Account, you explicitly agree, acknowledge and instruct RQD to transfer the settlement proceeds from such sell transaction from your Account to your Funding Account. You understand that such instructions will result in the proceeds of all securities sales to be transferred, upon settlement, from your Account to your Funding Account. These transfers will be batched into a bulk transfer and combined with other customer transfer requests initiated on the same trading day. Bulk transfers will be made from RQD to Third Party FI via a single wire transfer at the end of the relevant trading day. IN THE EVENT THAT YOU HAVE ANY QUESTIONS REGARDING ANY OF THE DETAILS DESCRIBED IN THIS SECTION OR IF YOU ARE UNCERTAIN AS TO HOW, OR IN WHAT CAPACITY, A SECURITIES BUY OR SELL ORDER WILL BE HANDLED OR TREATED, YOU AGREE THAT YOU WILL IMMEDIATELY CONTACT INTRODUCING FIRM PRIOR TO ENGAGING IN ANY TRADING AND/OR RELATED ACTIVITY WITH RESPECT TO YOUR ACCOUNT.
