Common Contracts

Clarity BidRate Alternative Trading SystemSM Subscriber Agreement

Trading Systemsm Subscriber Agreement • September 4th, 2019 • New York

• Contract Type
  Trading Systemsm Subscriber Agreement
• Filed
  September 4th, 2019
• Jurisdiction
  New York

This Clarity BidRate Alternative Trading SystemSM Subscriber Agreement (“Agreement”) is made as of _, 201 (“Effective Date”), by and between Arbor Research & Trading, LLC, a Delaware limited liability company (“Market Agent”), and [ ], a [state of organization and type of entity] (“Subscriber”) (each, a “Party”; together, the “Parties”), and governs, among other things, the transmission of bids, orders and instructions to purchase or sell Eligible Securities (as defined below) by Subscriber (each, an “Order” and collectively, “Orders”) for execution on or through Market Agent’s alternative trading system, the Clarity BidRate Alternative Trading SystemSM (“C-BRATSSM”).