Trading Activity Functions. Introducing Firm shall perform the following functions as introducing firm for its prime brokerage customers: a. Report all trading activity for the accounts of Introducing Firm’s prime brokerage customers (whether executing with Clearing Agent or away) to Clearing Agent via such method as may agreed upon by Clearing Agent and Introducing Firm) on trade date by a time to be determined by Clearing Agent and Introducing Firm from time to time. b. Accept, via electronic mail (or telephone) on T+1, information regarding all trade breaks and respond to Clearing Agent regarding resolution of such trade breaks by 12:00 noon (NYC time) on T+1. c. Obtain pre-approval from Clearing Agent for any short sales directed by Introducing Firm’s prime brokerage customers. d. Provide all information to Clearing Agent related to the eligibility of any of Introducing Firm’s customers to receive or to continue to receive prime brokerage services.
Appears in 3 contracts
Samples: Fully Disclosed Clearing Agreement (Cowen Group, Inc.), Fully Disclosed Clearing Agreement (Cowen Group, Inc.), Fully Disclosed Clearing Agreement (Cowen Group, Inc.)
