TRADING PROCEDURES. As set forth in Appendix I hereto, upon receipt of an F/X trade order, the F/X Desk shall obtain a price from MLIB and at least two (2) other counterparties. The order shall be executed with MLIB if the price quoted by MLIB (which will not include a Service Fee) is as good as or better than the best price quoted by the other counterparties contacted (including the Service Fee). If MLIB is not making a market in a currency in which a CTA wishes to acquire a position, the F/X Desk shall contact three (3) other counterparties for price quotes and shall execute the trade order with the counterparty offering the best price quote. MLFIP shall cause to be documented the counterparties contacted for each F/X trade executed through the F/X Desk and the price offered by each such counterparty. Such documentation shall be retained by the F/X Desk pursuant to MLFIP's standard recordkeeping procedures.
Appears in 5 contracts
Samples: Foreign Exchange Desk Service Agreement (Sector Strategy Fund Iv Lp), Foreign Exchange Desk Service Agreement (Henry John W & Co/Millburn L P), Foreign Exchange Desk Service Agreement (Ml Futures Investments Lp)
