Clearing Broker definition

Clearing Broker means DriveWealth, LLC.

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Clearing Broker means a Clearing Participant who has entered into a Clearing Brokerage Agreement with a Customer;

Clearing Broker means an intermediary with responsibility to reconcile trade orders between transacting parties. Typically, the clearing broker validates the availability of the appropriate funds, ensures the delivery of the securities in exchange for cash as agreed at the point the trade was executed, and records the transfer;

Examples of Clearing Broker in a sentence

• The Trading Advisor shall receive copies of all daily and monthly brokerage statements for the Company directly from the Clearing Broker.

• The Trading Advisor will not, without the consent of the Manager, trade on a “give up” basis through floor brokers not associated with the Clearing Broker.

• Even if such floor brokers receive the Manager’s consent to execute trades on behalf of the Company, all such trades will be “given-up” to be carried by the Clearing Broker.

• Batched transfers will be sent to the Clearing Broker via a single wire transfer at the end of the relevant trading day rather than immediately upon such instruction by Customer to MSB.

• Such floor brokers shall “give up” all trades on behalf the Company to the Clearing Broker for clearance.

More Definitions of Clearing Broker

Clearing Broker means UBS Securities LLC or such other person for the time being appointed by the Master Fund as its clearing broker.

Clearing Broker means the party that maintains a clearing account for you or, as the case may be, the Executing Broker and to which the positions resulting from Orders executed by an Executing Broker pursuant to services provided under this Agreement ultimately are given up;

Clearing Broker means, as far as trading of Foreign Securities is concerned and where appropriate, any clearing broker as may from time to time be engaged by the Bank in providing clearing and other services relating to the Securities or the One Account;

Clearing Broker means a broker-dealer that has entered into an omnibus clearing arrangement with Jiko Securities, as an Introducing Broker, under which Clearing Broker clears your transactions on an omnibus basis.

Clearing Broker means the futures broker engaged by the Client for the purpose of clearing a Contract on a Futures Exchange and unless specified otherwise shall mean KF;

Clearing Broker means any Person who engages in the business of effecting transaction in Commodities Futures Contracts for the account of others or for his own account.

Clearing Broker means the clearing broker-dealer with which the Sponsor has an agreement pursuant to which the clearing broker-dealer carries and provides clearing services for the accounts of Trading Participants.