Examples of Sponsored Participant in a sentence
The term “Authorized Trader” or “AT” shall mean a person who may submit orders (or who supervises a routing engine that may automatically submit orders) to the Exchange’s trading facilities on behalf of his or her Member or Sponsored Participant.
The term “User” shall mean any Member or Sponsored Participant who is authorized to obtain access to the System pursuant to Rule 11.3.
The term “Sponsoring Member” shall mean a Member that is a registered broker-dealer and that has been designated by a Sponsored Participant to execute, clear and settle transactions resulting from the System.
Notwithstanding Exchange’s execution and delivery to User of a copy of this Agreement, if User is a Sponsored Participant, and not a member of Exchange, as a condition to initiating and continuing access to Exchange, User must enter into and maintain customer agreements with one or more sponsoring members of Exchange establishing proper relationship(s) and account(s) through which User may trade on Exchange.
Unless otherwise required by law, User may not sell, lease, furnish or otherwise permit or provide access to Exchange to any other entity or to any individual that is not User’s employee, customer, agent or Sponsored Participant.
Authorized TraderThe term “authorized trader” or “AT” means a person who may submit orders (or who supervises a routing engine that may automatically submit orders) to the Exchange’s trading facilities on behalf of his or her Member or Sponsored Participant.
If User is a Sponsored Participant, User agrees that all orders executed on its behalf by Cboe Trading shall be cleared and settled, using the relevant sponsoring Exchange Member’s mnemonic (or its clearing firm’s mnemonic, as applicable) and such Exchange Member retains responsibility for the clearance and settlement of all such orders.
The term “Sponsoring Member” shall mean a broker-dealer that has been issued a membership by the Exchange who has been designated by a Sponsored Participant to execute, clear and settle transactions resulting from the System.
The Exchange believes that this requirement is unnecessarily burdensome as the Exchange’s regulatory group may request information about a particular customer relationship as it deems necessary.17 Further, the Exchange is made aware of the existence of ports when the Sponsoring Member Organization requests connectivity to the Exchange and the Members are responsible for all trading activity by its Sponsored Participant.
To the extent you are a registered futures commission merchant, you may provide a non-participant customernon-Participant Customer with access to the SEF as a Sponsored Participant but only in accordance with the terms of the FCM Direct Client Access Addendum (“FDCA”) and the applicable SEF Rules.