Common use of Trading System communications Clause in Contracts

Trading System communications. (a) Communications between Trading Participants and the Operator relating to trading are to be made in accordance with clause 26.1. (b) A Trading Participant is taken to have submitted an Order on receipt by the Operator of data transmitted electronically by means of the Trading System which indicates that the Trading Participant is willing to enter into a Transaction on the terms specified in the Order. (c) A Trading Participant is taken to have cancelled or modified an Order (as the case may be) on receipt by the Operator of data transmitted electronically by means of the Trading System requesting that the Order be cancelled or modified. (d) The Operator and all Trading Participants are entitled to rely on all Orders submitted by a Participant through the Trading System. The receipt by the Operator of an Order from a Participant through the Trading System will be sufficient to verify that the Participant originated the Order.

Trading System communications. (a) Communications between Trading Participants and the Operator relating to trading are to be made in accordance with clause 26.1. (b) A Trading Participant is taken to have submitted an Order on receipt by the Operator of data transmitted electronically by means of the Trading System which indicates that the Trading Participant is willing to enter into a Transaction on the terms specified in the Order. (c) A Trading Participant is taken to have cancelled or modified an Order (as the case may be) on receipt by the Operator of data transmitted electronically by means of the Trading System requesting that the Order be cancelled or modified. (d) The Operator and all Trading Participants are entitled to rely on all Orders submitted by a Participant through the Trading System. The receipt by the Operator of an Order from a Participant through the Trading System will be sufficient to verify that the Participant originated the Order.