Common Contracts
1 similar Uniform Brokerage Execution Services Agreement contracts
ContinueUniform Brokerage Execution Services Agreement • December 11th, 2020
Abandoning is a procedure in the trading of securities or commodities where an executing broker places a transaction on behalf of another broker. This is called an abandonment because the broker running the trade forgoes credit for the transaction on the record books. An abandonment usually occurs because a broker cannot place a transaction for a client based on other workplace obligations. An abandonment may also occur because the original broker works on behalf of an interdalial broker or senior broker. As part of an access agreement, an executing broker places a commodity or security broker on behalf of another broker. This is called an abandonment because the broker running the trade forgoes credit for the transaction on the record books. Giving up was common before e-commerce, but it is generally not practiced in modern financial markets. Acceptance of a abandonment trade is sometimes called a celea. Compensation for abandonment transactions is not clearly defined by industry stan
